INSEAD Day 4 - 728x90

Climate Change

Google to invest $6.4bn

The investment is its biggest-ever in Germany.

Pfizer poised to buy Metsera

The pharma giant improved its offer to $10bn.

Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.

UN summit to tackle ’emergency’ in world’s oceans

Nice, France - A global summit on the dire state of the oceans kicks off Monday in France, with calls...

Science

Morocco volunteers on Sahara clean-up mission as part Nomads Festival

M'HAMID EL GHIZLANE, Morocco - It may be the gateway to the vast Sahara desert, but that does not mean...

Economy
Business

ADNOC awards two contracts for Hail and Ghasha Offshore Development project

ABU DHABI, UAE – ADNOC on Thursday announced the final investment decision (FID) and award of contracts for the Hail...
  • The first contract for the offshore facilities has been awarded to a joint venture between National Petroleum Construction Company and Saipem.
  • The second contract will deliver the onshore scope, including carbon dioxide and sulphur recovery and handling and has been awarded to Tecnimont.
Economy

Largest climate fund seeks new funding for vulnerable

The Green Climate Fund (GCF) was set up as part of the landmark 2015 Paris Agreement to funnel grants and...
  • The Green Climate Fund says Thursday's conference in Germany will allow it to invest more in a decade it sees as critical for climate action
  • It has laid out a 50by30 vision to manage $50 billion by 2030, almost triple its current capital of $17bn, to focus efforts on developing countries
Business

ADNOC, Fertiglobe to pilot cost-effective modular carbon capture technology

ABU DHABI, UAE – ADNOC and Fertiglobe on Tuesday announced the pilot deployment of the world’s first cost-effective modular CycloneCC...
  • The CycloneCC technology is designed to improve the economics of point-source carbon capture within industrial facilities.
  • Traditional point source carbon capture technology relies on feeding gas through large absorption and stripping towers.
Geostrategy

Countries pledge to raise $12 billion to help coral

The pledge comes with coral around the world under particularly acute stress because of record warm seas this year.
  • Marine heatwaves -- episodes of abnormally high water temperatures -- have become more frequent and intense.
  • Oceans have absorbed 90 percent of the excess heat produced by human activity since the dawn of the industrial age, according to scientists.
Geostrategy

Oil industry is an integral part of climate solutions, says COP28 head

President of the upcoming COP28 climate talks Sultan Al Jaber, also the head of UAE state-owned oil firm ADNOC, told...
  • The president of the upcoming COP28 urged oil industry leaders to curb emissions associated with energy production.
  • He also encouraged them to embrace "low carbon solutions" like carbon capture and storage,
Economy

ADB capital reforms unlock $100bn to support Asia and the Pacific region

MANILA, PHILIPPINES - The Asian Development Bank (ADB) approved capital management reforms that unlock US$100 billion in new funding capacity...
  • The expansion of available funds will be further leveraged by mobilizing private and domestic capital required to tackle the climate crisis.
  • The reforms also create a Countercyclical Lending Buffer to support ADB developing member countries facing unexpected crises.
Geostrategy

IMF approves $1.3bn for Morocco to help transition to a greener economy  

WASHINGTON, US - The International Monetary Fund (IMF) Executive Board approved a Resilience and Sustainability Facility (RSF) for Morocco of...
  • The arrangement will help Morocco strengthen its preparedness and resilience against natural disasters, including from climate change.
  • The 18-months arrangement, "Will help Morocco address climate vulnerabilities, bolster its resilience against climate change,” the IMF said.
Business

Europe should move faster on energy transition, say IEA, ECB

PARIS, FRANCE - Europe must invest more quickly and massively in its energy transition if it wants to remain a global...
  • Europe must invest more quickly in its energy transition if it wants to remain a global industrial power, top policymakers said.
  • Private sector investment faces barriers including policy uncertainty, bureaucratic red tape and higher energy costs, they said.
Science

Politicians fail to understand scientific facts of climate, says expert

PARIS, FRANCE - Wavering ambition by governments and a growing belief that science is politically subjective are great causes for concern...
  • Several extreme weather events have occurred in 2023, which the European Union's climate monitor says is likely to be the hottest in human history.
  • These underscores the urgency of slashing planet-heating greenhouse gas emissions to avert the catastrophic impacts of greater global warming.
Business

‘Mainstream sustainability for a net-zero future’

“As the UAE gears up to host COP28, it's crucial to involve all partners in hastening climate action, both locally...
  • UAE Minister of Climate Change and Environment, Mariam bint Mohammed Almheiri, emphasizes the importance of integrating sustainability into business operations
  • At the 12th NDCA, Minister Almheiri urges businesses to mainstream sustainability and highlights the pivotal role of carbon registries in achieving Net Zero by 2050

UN summit to tackle ’emergency’ in world’s oceans

Nice, France - A global summit on the dire state of the oceans kicks off Monday in France, with calls...
Science

Company News

Latest News

Makkah region sees 600% surge in green spaces within 5 months

Jeddah, Saudi Arabia - There has been a 600% increase in green spaces in Makkah region from August to December...

Japan quake toll rises to 62 as weather hampers rescuers

The 7.5-magnitude quake on January 1 that rattled Ishikawa prefecture on the main island of Honshu triggered tsunami waves more...

Jordan takes steps to raise position in Global Food Security Index, says minister

AMMAN, JORDAN - Agriculture Minister Khaled Al-Hneifat said the ministry has been working hard over the past year to create...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Geostrategy

Sheikh Hamdan issues resolution regulating single-use products in Dubai

DUBAI, UAE -  Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive...
  • The aim of the resolution is to protect the environment, encourage people to adopt an eco-friendly lifestyle.
  • The move also aims to encourage the private sector to promote the use of recycled products.
Business

GCC forges ahead in sustainable tech initiatives

In 2023, the Gulf countries made a strong push towards renewable energy and pioneering green hydrogen projects, signaling a significant...
  • In 2023, the Gulf countries made a strong push towards renewable energy and pioneering green hydrogen projects, signaling a significant green transition in the region.
  • The GCC's commitment to sustainable technology initiatives, including advancements in renewable energy, green hydrogen, and smart city solutions, make it a global leader.
Business

IsDB, SWCC sign agreement

The collaboration will involve efforts from both parties.
  • The agreement includes a mechanism for exchanging knowledge and experiences.
  • It would involve transferring the experience of SWCC to the member countries of IsDB.