Paris Olympics’ organizers worry heatwave can spell trouble for games
A new study presenting "climate simulations to anticipate worst-case heatwaves during the Paris 2024 Olympics" has focused minds after it...
Energy companies to test CO2 capture in Brazil undersea oil field
PARIS, FRANCE  - A consortium of Brazilian, British, French and Chinese energy firms will test new technology aimed at capturing CO2...
Business
Economy
Winter rains bring life back to Iraq’s drought-hit marshlands
The relief of rainfall early this month was welcomed by the UN agency, which noted in a statement that in...
- A UNESCO World Heritage Site, the marshes were parched and dusty last summer by drought in the climate-stressed country and by reduced flow from the Tigris and Euphrates river
- In July, the UN Food and Agriculture Organization deplored the "unprecedented low water levels" in the marshes, highlighting "the disastrous impact" for more than 6,000 families
Business
‘Saudi to invest US$266bn in cleaner energy’
Saudi Arabia plans to invest more than US$266 billion to produce cleaner electricity and expand its power grid, the kingdom's...
- Despite its goal of achieving net zero carbon emissions by 2060, Saudi Arabia remains hugely dependent on crude oil exports.
- The Saudi minister said the Kingdom is determined to be the leading exporter of clean hydrogen.
Geostrategy
Fight global warming without harming economic growth: COP28 chief
The UAE is pushing the merits of carbon capture -- removing carbon dioxide as fuel is burned, or from the...
- Sultan Al Jaber, the UAE's special envoy for climate change and CEO of oil giant ADNOC, said the energy transition needed to make the planet "wealthier and healthier".
- The UAE, one of the world's biggest oil producers, argues that crude remains indispensable to the global economy and is needed to finance the energy transition.
Economy
Year of Sustainability a springboard for global climate action, says Sheikha Shamma of UICCA
Containing the fallout of climate change, addressing related damage and losses, and meeting the relevant needs of developing countries are...
- Containing the fallout of climate change, addressing related damage and losses, and meeting the relevant needs of developing countries are key challenges, says Sheikha Shamma
- The UAE’s leadership is prioritising the issue of climate change and has taken proactive steps to accelerate the pace of its climate action efforts, she adds
UN faults climate change for jump in human trafficking risks
The UN drugs agency noted that an increase in cases of human trafficking had been observed in Bangladesh and the...
- The continuing war in Ukraine is also another risk factor for increased human trafficking, UNODC said
- The UN report is based on data from 141 countries collected from 2017 to 2020, and the analysis of 800 court cases
UAE President announces 2023 as ‘Year of Sustainability’
The country will also focus on environmental sustainability and showcasing the UAE’s commitment towards fostering a global collaboration for innovative...
- The country will also focus on environmental sustainability and showcasing the UAE’s commitment towards fostering a global collaboration for innovative environmental solutions
- The announcement follows the successful conclusion of Abu Dhabi Sustainability Week 2023, which saw the participation of numerous state leaders and officials worldwide
World Economic Forum
Carbon pricing standards key to boost green energy
Public resistance to a carbon tax has prevented many nations from establishing carbon pricing via taxation, but taxation is not...
- In order to reach 2050 emissions reduction targets, trillions of dollars in public and private capital are needed to adopt and scale green energy technologies
- Carbon trading, regulation and different pricing schemes are alternative strategies that countries have used to impose costs for emissions, believe experts
Science
WEF launches initiative to channelize US$3trn for climate and nature
The World Economic Forum launched the Giving to Amplify Earth Action (GAEA), to help unlock the US$3 trillion of financing...
- Present funding is slow and inadequate, and a new approach is needed to get capital flowing.
- Philanthropic giving is nimble, more tolerant of risks and is driven by values and long-term outcomes rather than quarterly returns.
Business
Four firms to partner for Co2 removal
ADNOC, FNRC, Masdar and 44.01 to pilot a technology in Fujairah.
- The technology permanently mineralizes carbon dioxide (CO2) within rock formations found in the Emirate of Fujairah.
- Fujairah has been selected for this pilot for to its abundance of peridotite, a form of rock that naturally reacts with CO2 to mineralize it.
Economy
Countries which transform food system can meet net-zero goals, says WEF report
DAVOS, SWITZERLAND – A  report launched Monday at the World Economic Forum Annual Meeting 2023 shows how countries can accelerate...
- Food systems, when transformed, can help solve some of the world’s toughest problems, from climate change to resilient livelihoods.
- The report identifies models for businesses and policy-makers and a roadmap of priorities for countries to improve productivity and sustainability.
Paris Olympics’ organizers worry heatwave can spell trouble for games
A new study presenting "climate simulations to anticipate worst-case heatwaves during the Paris 2024 Olympics" has focused minds after it...
Company News
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Abu Dhabi Global Market announced as home to $30 billion ALTÉRRA
Abu Dhabi, UAE - The Abu Dhabi Global Market (ADGM) was announced as the home of the newly launched catalytic...
COP28 UAE
134 nations to put food, agriculture in national climate plans
"This declaration is the moment when food truly comes of age in the climate process, sending a powerful signal to...
COP28 UAE
Dubai COP28: Record attendance marks largest ever UN climate summit
Among the host country's guests are Bill Gates and Antoine Arnault, the son of LVMH boss Bernard Arnault, the second...
COP28 UAE
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Geostrategy
UAE President announces $30bn Global Climate Fund at COP28 meet
In a groundbreaking announcement at the World Climate Action Summit during the UN Climate Change Conference (COP28), UAE President Sheikh...
- The fund, designed to address the critical gap in climate financing, aims to enable affordable access to climate finance.
- The UAE President highlighted the global urgency of addressing climate change and its pervasive impacts on life.
COP28 puts spotlight on state oil giants
Western energy firms are the usual suspects when it comes to criticism about the sector's role in climate change, but...
- National oil companies, or NOCs, "account for more than half of global production and close to 60 percent of the world's oil and gas reserves," the IEA said
- NOCs and the oil majors - which include BP, Chevron, ExxonMobil, Shell and TotalEnergies - will all be "critical to efforts to achieve net zero" emissions by 2050
COP28 UAE
COP28’s Green Zone: A central hub for climate-related activities
Dubai, UAE - The Green Zone at the COP28, overseen and managed by the conference presidency team, serves as a...
- Starting on December 3, the Green Zone will host attendees throughout the COP28 week, providing access to exhibitions, artistic installations, film screenings etc
- Specialized centres within the Green Zone provide opportunities for learning, skill development, and collaboration to address climate change