World Bank boosts climate financing by 10 percent
Washington, United States - The World Bank announced Thursday that it delivered a record $42.6 billion in climate change financing in...
Climate change is slowing heat waves, prolonging misery
While previous research has found climate change is causing heat waves to become longer, more frequent and more intense, the...
Economy
Business
Sustainable finance helps achieve net-zero emissions
"Together, we are working under the direct supervision of the Central Bank of the UAE to further advance sustainable finance...
- Six major UAE banks have dedicated over US$51.8 billion in green financing for renewable energy, waste-to-energy, and green technology projects
- UBF members will play a critical role in integrating environmental values into business and industrial progress during the upcoming COP28, says its chief
Economy
Carbon neutrality strategy to propel green transition
This ambitious strategy, commissioned by the ASEAN Member States and with the support from the Australia for ASEAN Futures (AUS4ASEAN)...
- The ASEAN Strategy for Carbon Neutrality aims to complement national initiatives of ASEAN Member States in meeting their Paris Agreement commitments
- The strategy, supported by AUS4ASEAN initiative, highlights the urgency of pursuing carbon neutrality to unlock the value potential of a green transformation
Economy
Tens of thousands of Canadians flee homes as wildfires spread
Prime Minister Justin Trudeau said he had spoken with British Columbia Premier David Eby about the "rapidly evolving and incredibly...
- Kelowna, a city of 150,000, was choked with thick smoke as it became the latest population center hit in a summer of dramatic wildfires across Canada
- About 40 flights carrying around 3,500 passengers from Yellowknife have arrived in Calgary, said officials in the city, which has made nearly 500 hotel rooms available
Bahrain to build walls against rising sea
But by 2050, sea levels could rise by at least 0.5 metre, according to the minister, citing the United Nations'...
- Most of Bahrain's population and major facilities are located in low-lying coastal areas less than five metres above the water
- Extreme temperatures due to accelerated climate change could make parts of the Gulf unliveable by the end of the century, experts say
Economy
Economists convened by COP28 lay out steps to reform global climate finance
ABU DHABI, UAE - A two-day meeting of world leading economists and finance leaders convened by the COP28 Presidency has...
- Particular areas of focus for the new framework will include addressing debt distress in vulnerable countries.
- Group said that private finance flows need to grow much faster to meet the $2.4 trillion investment estimated nnually.
Geostrategy
Caspian Sea water levels hit 30-year low
Estimates reveal a 9-meter decline in Caspian Sea water levels, shrinking the area by 24 percent, as the northern half...
- Estimates reveal a 9-meter decline in Caspian Sea water levels, shrinking the area by 24%, as the northern half witnesses a more significant drop than the southern part.
- The Caspian Sea supports a vital fishery, provides water for agriculture, and is home to several threatened species, including 90% of the world's last-remaining sturgeon.
Economy
Under UAE Presidency, COP28 will lead global efforts to protect the planet, safeguard future generations
"The UAE possesses essential capabilities such as modern infrastructure, a commendable track record in sustainability and environmental conservation, recognition as...
- Sheikh Mohamed highlights role of youth, women, and civil society in combating climate change
- UAE invites global cooperation for collective climate action, COP28 to lead efforts under UAE Presidency
Geostrategy
Baghdad zoo animals suffer 50C heat
Underfunded and run down by years of unrest, the zoo's dilapidated facilities make matters worse for its 900 animals, including...
- In an attempt to lower the temperature, air coolers have been installed in front of the lion cages, and pools are provided for the bears and tigers
- The veterinarian said the zoo has lost bears, lions and birds in recent years, some of them because of the soaring temperatures caused by climate change.
Business
ADNOC, Tabreed say breakthrough in project to harness geothermal energy
ABU DHABI, UAE – ADNOC and the National Central Cooling Company (Tabreed) on Monday announced a breakthrough following the conclusion...
- The landmark project, the first in the Gulf region, is set to decarbonize the cooling of buildings in Masdar City.
- The project will further diversify the UAE’s energy mix and support the National Energy Strategy 2050.
Iraq drought claims popular lakeside resort
Shorelines at Habbaniyah, about 70 kilometres west of Baghdad, have receded by several dozen meters after years of drought ravaged...
- Shops and holiday homes by the lake now sit empty in the height of summer. On the beach, stray dogs wander between unused umbrellas
- Sada'a Saleh Mohamed, a local official overseeing finances at the Habbaniyah resort, said "the lake has receded" and tourism has become "really very weak"
World Bank boosts climate financing by 10 percent
Washington, United States - The World Bank announced Thursday that it delivered a record $42.6 billion in climate change financing in...
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‘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
‘Tech solutions help make food practices sustainable’
UAE's launch of Food Innovation Hub emphasizes the government's eagerness to innovate and collaborate for sustainable food systems, WEF's Tania...
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...
Economy
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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
Geostrategy
Arab meet calls for more investments in renewable energy
Speaking at the 12th Arab Energy Conference organized by the Organization of Arab Petroleum Exporting Countries (OAPEC), Qatar's Energy Minister...
- OAPEC Secretary General Eng. Jamal Issa Al Loughani emphasized the conference's focus on international energy market developments and their local and global implications.
- He called for a careful balance between emission reduction, energy availability and affordability, while underscoring challenges in building sustainable energy systems.
Geostrategy
Russia, Saudi say sovereign Palestine state vital for regional peace
RIYADH, SAUDI ARABIA – Russia and Saudi Arabia expressed concern on the present situation in Gaza and said that a...
- The two sides discussed the developments in Palestine and expressed their deep concern about the humanitarian catastrophe in Gaza.
- Russia and Saudi Arabia stressed on the need to stop military operations in the Palestinian territories, and the need to protect civilians.