WEF24: Catalyzing investment, trade transform Africa
Addressing infrastructure and climate change is crucial for Africa's development, British Robinson, the Coordinator of the Prosper Africa Initiative, tell...
Interview
COP hosts UAE, Azerbaijan, Brazil announce climate ‘troika’
The UAE hosted last year's COP28 conference in Dubai, while Azerbaijan will host this year's summit followed by Brazil in...
Economy
Science
EU uncertain over biodiversity protection despite okaying climate change laws
STOCKHOLM, SWEDEN - EU lawmakers this week adopted new laws boosting Europe's climate change fight, but a parallel drive to protect...
- Negotiations between the European Commission, EU member states and the European Parliament on the issue have run into difficulty over the details.
- Scandinavian countries are worried about forestry sector, while others believe the scope of the text proposed by the commission goes too far.
Economy
WTO, WBG, WEF launch scheme for trade, climate mitigation efforts
GENEVA, SWITZERLAND - The World Trade Organization (WTO), the World Bank Group (WBG) and the World Economic Forum (WEF) on...
- The initiative Action on Climate and Trade (ACT) . which starts with a pilot phase, will focus on working with participating developing economies.
- ACT will provide participating economies with tailored insights so that they can plan for the impacts of climate change on trade.
Science
Green groups sue Europe over false energy label
BRUSSELS, BELGIUM - Environmental groups lodged a lawsuit against the European Commission on Tuesday to challenge its definition of natural gas...
- The lawsuit over gas was launched by WWF, ClientEarth, Transport&Environment and the German NGO BUND.
- Greenpeace, sued the EU executive separately for deciding that nuclear energy was worthy of its sustainable investment label.
Business
UK aviation warns green shift to slow demand growth
Sustainable Aviation urged the UK government to take "urgent" action to support investment in carbon-cutting innovations, pointing to the provision...
- Publishing an update to its Net Zero Carbon Road Map, industry body said, "the increased cost of decarbonising aviation will inevitably reduce passenger demand"
- The aviation industry produces high levels of both carbon dioxide and non-CO2 emissions that contribute to climate change, according to scientists
Science
New tech taps oceans to tackle global warming
Scientists from University of California Los Angeles are working on a project aimed at using the oceans as a big...
- The oceans, covering most of the Earth, are already the planet's main carbon sinks, acting as a critical buffer in the climate crisis.
- They absorb a quarter of all CO2 emissions, as well as 90 percent of the warming that has occurred in recent decades due to increasing greenhouse gases.
Iraq’s ancient treasures blasted by sandstorms linked to climate change
Iraq, one of the countries worst-hit by climate change, endured a dozen major sandstorms last year that turned the sky...
- After a decade of worsening storms, sand at Umm al-Aqarib now "covers a good part of the site", that dates back to around 2350 BC
- Compounding its woes, Iraq is also one of the five countries most impacted by some effects of climate change, including drought, says UN
Economy
G7 climate ministers pledge to end plastic pollution by 2040
A statement put out by G7 said the phase-out will be achieved by "promoting sustainable consumption and production of plastics,...
- The G7 statement said the group remains committed to end plastic pollution, with the resolve to lower additional pollution to zero by 2040
- According to the OECD group of developed countries, during the last 20 years plastic waste has doubled globally and only nine percent is recycled
Geostrategy
Nuclear power reactors to shut down in Germany
BERLIN, GERMANY - Germany will switch off its last three nuclear reactors on Saturday, exiting atomic power even as it seeks...
- The exit decision was popular in a country with a powerful anti-nuclear movement, stoked by lingering fears of Cold War conflict and atomic disasters.
- The challenge caused by Russia's invasion of Ukraine put an end to cheap gas imports and has upped calls in Germany to delay withdrawal from nuclear power.
Economy
G7 starts ‘difficult’ climate talks on fossil fuel commitments
Sapporo, Japan--G7 allies kicked off two days of "difficult" climate talks in northern Japan on Saturday, facing pressure to show progress...
- Differences have deepened among the group as the energy crisis caused by the Ukraine war squeezes G7 countries
- The G7 climate statement draft, seen by AFP, recognizes the primary need to accelerate the clean energy transition
‘Flash drought’ frequency increasing due to climate change: study
For the study, published in the journal Science, researchers analyzed a combination of satellite data and ground moisture readings from...
- Researcher of the study used climate modeling to forecast how flash droughts will change under several possible greenhouse gas emission scenarios
- A commentary piece by two professors in Netherlands, said the study's warning "should be taken seriously" as the threat may be even greater than they suggest
WEF24: Catalyzing investment, trade transform Africa
Addressing infrastructure and climate change is crucial for Africa's development, British Robinson, the Coordinator of the Prosper Africa Initiative, tell...
Interview
Company News
Latest News
‘Unintended consequences’: friction at COP28 over green trade
Inside the negotiating rooms and on the sidelines of the COP28 climate talks, simmering tensions over wealthy countries' "green trade"...
COP28 UAE
‘COP28 makes significant strides in climate action’
"COP28 is a very important conference because what it's doing is not just bringing people together, but it provides certainty...
Economy
Biodiversity credits demand may rise to $180bn annually by 2050
The transformation hinges on nearly all major companies adopting nature-related goals, with biodiversity credits playing a major role.
Business
Most Read
COP28 UAE
We respect climate science, says COP28 head
DUBAI, UAE - The Emirati president of the UN's COP28 talks said on Monday he respects climate science, after a leaked...
- Sultan Al Jaber also repeated his past statements that a phase out of fossil fuels was "inevitable".
- He acknowledged that global greenhouse gas emissions must be cut by 43 percent by 2030.
Geostrategy
Saudi energy minister calls Western climate pledges ‘small change’
"Unlike the small change offered for loss and damage from our partners in developed countries, the Kingdom through its South-South...
- The loss and damage fund for vulnerable nations, a major win at COP28, has attracted about $655m so far, a sum criticized as insufficient by campaigners.
- The prince's remarks were the latest sign of sharp differences around tackling the climate crisis as negotiators from around the world attempt to hammer out an agreement in Dubai.
COP28 UAE
$272 billion sustainable finance pledge by UAE financial sector at COP28
Abu Dhabi, UAE -- The financial sector of the United Arab Emirates commits to mobilizing more than AED 1 trillion...
- The commitment to mobilize AED 1 trillion was made by the UAE Banks Federation at an event held on Finance Day at COP28.
- Financial sector's engagement is critical to realize our collective climate ambitions, ensuring that the 1.5°C target remains within reach, said COP28 President Sultan Al Jaber.