Saudi Arabia hosts UN talks on drought, desertification
Riyadh, Saudi Arabia - Saudi Arabia will host the COP16 UN conference on land degradation and desertification next week as the...
World leaders meet for climate talks, but big names missing raising concerns over global climate commitment
The small group of developed countries that currently contributes the money wants the donor pool expanded to include other rich...
Business
GCC ramps up ESG efforts amid green investment push
Businesses are getting ready for COP28 by moving from starting ESG programs to growing them, and those who know the...
- Businesses are getting ready for COP28 by moving from starting their ESG programs to growing them, and those who know the benefits of ESG Reporting may gain a lot, say experts
- Companies in the region have also been cautioned against viewing ESG as synonymous with Corporate Social Responsibility or merely as a "tick the box" obligation
Business
Greenpeace denounces UK energy firm over coal-fired power station
LONDON, UK - Greenpeace slammed Britain's power grid operator on Monday after it requested the reactivation of a coal-fired power station...
- National Grid ESO has asked energy firm Uniper to fire up a coal unit of its power station in Ratcliffe-on-Soar, central England.
- Temperatures in Britain could exceed 30 degrees Celsius (86 degrees Fahrenheit) on Monday and remain high this week, forecasters say.
Geostrategy
SEWA, US delegation explore collaboration in innovation, sustainability
Sharjah, UAE - Abdullah Abdul Rahman Al Shamsi, Director-General of SEWA Sunday discussed the authority's initiatives to reduce emissions and...
- The two discussed the authority's initiatives to reduce carbon emissions and combat climate change and its vision for the upcoming COP28 conference.
- They also explored potential collaborations between the authority and American companies in innovation and sustainable development.
The phase down of fossil fuels is inevitable: Emirati COP28 chief
Al-Jaber, who runs the Abu Dhabi National Oil Company (Adnoc), defended a COP28 roadmap that includes a "global goal to...
- "The phase down of fossil fuels is inevitable," Sultan al-Jaber said on the sidelines of technical climate talks six months ahead of the summit
- On Wednesday, al-Jaber signed a statement with EU Commission chief calling for “a transition towards energy systems free of unabated fossil fuels"
Business
Saudi Arabia’s RVCMC to hold biggest carbon credit auction in Nairobi
The event on Jun 14 aims to sell more than 2 million tons of high-quality CORSIA carbon credits registered with...
- An auction held by RVCMC last year at Future Investment Initiative (FII) in Riyadh was then the largest-ever auction with 1.4 million tons of carbon credits sold.
- RVCMC was established by PIF and Tadawul Group to help MENA businesses play their role in the global transition to zero neutrality.
Geostrategy
US official meets UAE diplomats to discuss climate change
DUBAI, UAE - US special climate envoy John Kerry has met senior Emirati officials in Abu Dhabi, including the head of...
- Oil producers have for year touted carbon capture as a potential global warming solution.
- With little investment, carbon capture technology is nowhere near the scale needed to make a significant difference.
Science
How chocolate could counter climate change
Biochar, a substance produced by heating the cocoa husks in oxygen-free environment, could be used to capture 2.6 billion of...
- While the biochar industry is still in its infancy, the technology offers a novel way to remove carbon from the Earth's atmosphere, experts say.
- Across Europe, biochar projects have begun to multiply. The biochar industry federation says production is set to almost double to 90,000 tons this year compared with 2022.
Business
US firms to pay $1.2bn to clear claims of contaminating water sources
Three major chemical manufacturers announced that they will pay nearly $1.2 billion to settle claims that they contaminated water sources...
- Chemours would contribute $592 million, DuPont $400 million and Corteva $193 million to the settlement fund.
- The group of chemicals known as PFAS, per- and polyfluoroalkyl substances, have been found to cause cancer and other health problems.
Business
MoIAT, Shahin sign strategic partnership to enhance UAE’s green mobility
ABU DHABI, UAE - UAE Ministry of Industry and Advanced Technology (MoIAT) has signed a Letter of Intent (LoI) with...
- According to the Global Electric Mobility Readiness Index (2022), the demand for electric vehicles in the UAE has been rising over the past few years.
- The report shows the UAE, which has more than 300 charging stations, has one of the largest charging-station-to-vehicle-ratios in the world.
Carbon pricing needed to finance transition to clean energy: IMF official
Gita Gopinath said she believes there are grounds to provide subsidies to help stimulate innovation. Gopinath's intervention into the debate...
- Carbon pricing is also very effective in channeling investment where it needs to go, and providing the right kinds of incentives for buyers, Gita Gopinath said at a conference
- World needs to avoid a race in subsidies, where richer countries would sideline smaller countries' competitiveness with generous support, said IMF's First Deputy Managing Director
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Saudi Arabia hosts UN talks on drought, desertification
Riyadh, Saudi Arabia - Saudi Arabia will host the COP16 UN conference on land degradation and desertification next week as the...
Company News
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COP28 draft deal calls for ‘reducing’ fossil fuel production, consumption
The draft no longer mentioned a "phase-out". The text prepared under COP28 president Sultan Al Jaber, the head of the...
COP28 UAE
Global health crisis looms amid climate change: WEF
Global coalition and trillions of dollars are required to prevent escalating human deaths due to climate change, Dr. Shyam Bishen...
COP28 UAE
ITFC looks to ramp up green financing to 30% of its portfolio
Dubai, UAE-- The International Islamic Trade Finance Corporation (ITFC) is looking to ramp up its sustainable and green financing to...
COP28 UAE
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COP28 UAE
UN climate talks home in on fossil fuel deal
Negotiators have failed to produce a new draft agreement since the last text was released on Friday. The document includes...
- Jaber, the head of the national oil company of the United Arab Emirates, has urged countries to find a "consensus and common ground" on fossil fuel
- Saudi Arabia has opposed any phase-out or phase-down of fossil fuels and told COP28 that its "perspectives and concerns" must be taken into account
COP28 UAE
‘Private sector plays key role in climate resilience’
Private sector has the ability to mobilize resources and foster innovative solutions for vulnerable communities, Dominica's Environment Minister Cozier Frederick...
- Private sector has the ability to mobilize resources and foster innovative solutions for vulnerable communities, Dominica's Environment Minister Cozier Frederick tells TRENDS.
- Optimistic about COP28's impact and the crucial Loss and Damage Fund, the minister underscores the need for a bottom-up approach and community involvement in climate action.
Business
NEOM launches ‘Topian’ to ensure climate-proof agriculture in Saudi
NEOM, Saudi Arabia: NEOM, a mega-city project in Saudi Arabia characterized by futuristic urban planning and advanced technologies, Sunday announced the...
- Topian has been launched with the support of the Saudi Ministry of Environment, Water and Agriculture (MEWA).
- Topian has signed numerous local and international strategic partnership agreements with organizations that share Topian’s commitment to reshaping the future of food.