Dubai airport diverts flights as ‘exceptional weather’ hits Gulf
Dubai, the Middle East's financial centre, has been paralyzed by the torrential rain that caused floods across the UAE and...
Poorer countries need money before raising climate targets, says COP29 head
Copenhagen, Denmark - Developing countries should not have to set stricter targets for cutting their carbon emissions before funds are available...
Geostrategy
Geostrategy
World inches step closer towards plastic pollution deal: UN
Some 175 nations are working to reach a landmark agreement by end-2024 that will curb plastic pollution, which ends up...
- Global plastic production has more than doubled since the start of the century to reach 460 million tons and could triple by 2060 if nothing is done. Only 9% is currently recycled.
- The draft deal, published by the Intergovernmental Negotiating Committee, will form the basis of fresh talks in the Kenyan capital, Nairobi, on November 13-19.
Geostrategy
UAE and Africa strengthen carbon market collaboration
"Our collaboration with the Africa Carbon Markets Initiative provides carbon market buyers in the UAE and wider region with access...
- The UAE Carbon Alliance has signed a Letter of Intent for a US$450 million purchase of African carbon credits by 2030
- Collaboration with Africa Carbon Markets Initiative will provide UAE with access to high-quality carbon credits from Africa
Business
Tech’s carbon footprint: can AI revolutionize responsibly?
The planet's 8,000 or so data centers are the foundation of our online existence, and will grow ever further with...
- In 2019, researchers trained several large language models, and found that training a single AI model can emit the CO2 emission equivalent of five cars over their lifetimes.
- Between 2010 and 2018, global data center energy use rose by only 6 percent, despite a 550 percent increase in workloads and computing instances, according to the IEA.
Istanbul dams run low after scorching, dry summer
The bank of screens in Ismail Aydin's Istanbul water management system control room flashes a worrying number: 29.7 percent. That...
- Turkey as a whole experienced the hottest July on record and broke the 50-degree Celsius (122-degrees Fahrenheit) mark for the first time in modern history on August 14
- The city could ship in extra supplies of water by sea or road should the dams run completely dry -- although no specific plans have been laid yet for that gloomy possibility
Economy
UAE economy expected to grow by 3.5 percent in 2023, says UBS
ABU DHABI, UAE - Chief Investment Officer, Emerging Markets at UBS Global Wealth Management Michael Bolliger forecasts the UAE's gross...
- The bank's positive outlook on the UAE’s medium-term growth prospects is supported by strong demand for its oil exports and energy investments.
- The bank also expects a strong 4.5 percent expansion for the non-energy part of the economy for this year.
Geostrategy
Renewables helped save $520bn fuel costs globally in 2022: Report
In non-OECD countries, just the saving over the lifetime of new capacity additions in 2022 will reduce costs by up...
- In addition to these direct cost savings, there would be substantial economic benefits from reducing CO2 emissions and local air pollutants.
- IRENA’s Director-General Francesco La Camera said the world must add 1,000 GW of renewable power annually on average every year until 2030 to keep 1.5°C within reach.
China, Arab nations establish centre to solve desertification, land degradation
Beijing, China - China and Arab nations have agreed to establish China-Arab International Research Centre for Drought, Desertification, and Land...
- China is one of the leading countries in desertification control and the country also has technologies that can be exemplars for Mongolia and the rest of the world
- Government representatives in attendance at the meeting signed the MoU on building the centre and launched the first batch of collaborative projects
Geostrategy
Years of coal plant expansion torment Turkey’s villagers
Villagers and environmental activists have been locked in clashes with the police in the southwestern Mugla province since their plant...
- An AFP tour of five Turkish coal-fired power plant villages witnessed the high human cost of relying on the outdated, highly polluting energy source.
- Turkey was the last among the G20 economies to ratify the Paris Climate Accords, doing so only after the environment became a top issue in the wake of deadly wildfires.
Canada’s fires in north force another town to evacuate
Canada is suffering through its worst forest fire season in recorded history, with much of the country hit by high...
- The threat to Hay River, a town of about 4,000, was so great that even firefighters and essential workers were ordered to leave, authorities said
- At this point, some two-thirds of the entire population of Northwest Territories has been evacuated to neighboring provinces, sometimes 1,200 miles away
Economy
COP28 to help green transition in developing nations
"International reports indicate that the countries in the Middle East and North Africa region are most vulnerable to climate change...
- The UAE's hosting of the COP28 will act as a leverage for international focus on climate action in the region
- Reports indicate that the Middle East and North Africa region is the most vulnerable to climate change risks
Dubai airport diverts flights as ‘exceptional weather’ hits Gulf
Dubai, the Middle East's financial centre, has been paralyzed by the torrential rain that caused floods across the UAE and...
Company News
Latest News
COP28 goes into overtime as negotiators wrestle over fossil fuel
COP28 has debated a historic first-ever global "phase-out" from oil, gas and coal, the main culprits in a planetary crisis...
COP28 UAE
Public-private partnerships play key role in environmental finance, says EIF official
DUBAI, UAE – Public-private partnerships have the potential to play a significant role in mobilizing private financing for environmental solutions,...
‘Investment policies must align with net-zero goals’
An alliance of public and private sectors is crucial for advancing the green agenda and effectively managing supply chain emissions,...
COP28 UAE
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Economy
UAE witnesses 7% rise in youth green skills in 2023
“We will work to create about 135,000 jobs in the field of green transition worldwide, and therefore ensuring that there...
- The World Bank's Green Initiative dedicates 45% of its annual financing to climate-related projects, with a strong emphasis on developing green skills.
- The apex global bank has a focused plan to create 135,000 jobs globally in the green transition sector, says Safaa El Tayeb El-Kogali of the World Bank.
COP28 UAE
Protecting nature may avert $2.7trn global economic losses: World Bank
Dubai, UAE-- Protecting nature could avert global economic losses by 2030 of US$2.7 trillion per year, or 2.3 percent annually,...
- Hickey said low-income countries may lose nearly 10 percent of their GDP annually by 2030 if select ecosystem services, such as forests, fisheries collapse
- She said that the loss of nature is at the core of central development challenges, mainly health, inequality, climate change, food security and energy
COP28 UAE
COP28 last chance to keep 1.5C target alive: John Kerry
US climate envoy issued the warning after COP28 president Sultan Al Jaber proposed a draft deal that did not include...
- He said that nobody at COP28 wants to be part of the failure to live up to this responsibility
- The 2015 Paris Agreement set the increasingly elusive target of limiting warming to 1.5 degrees Celsius