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Climate Change

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Methane emissions under spotlight at global forum in Geneva

Methane emissions from the fossil fuel industry have risen for three consecutive years, according to the International Energy Agency (IEA),...
  • Methane -- which is potent but relatively short-lived -- is a key target for countries wanting to slash emissions quickly and slow climate change
  • It is the second largest contributor to climate change, accounting for roughly 30 percent of global warming since pre-industrial levels

Women, rural poor most affected by climate change, says UN

PARIS, FRANCE – Heatwaves and floods inflict greater economic pain on rural women than men because climate change intensifies existing inequalities,...
  • The report said rural, women-led households in low- and middle-income nations already face more financial burdens than men when disaster strikes.
  • It estimated that if average temperatures increase one degree Celsius, women would face a 34 percent greater loss in total income compared to men.

Above-normal temperatures for March-May due to El Nino: UN

El Nino, the large-scale warming of surface temperatures in the central and eastern equatorial Pacific Ocean, typically has the greatest...
  • Though El Nino is now gradually weakening, its impact will continue over the coming months by fuelling the heat trapped in the atmosphere by greenhouse gases
  • It is a naturally occurring climate pattern typically associated with increased heat worldwide, as well as drought in some parts of the world and heavy rains elsewhere

World resource extraction could surge 60 percent by 2060, UN warns

Paris, France - Extraction of Earth's natural resources could surge 60 percent by 2060, imperiling climate goals and economic prosperity, the...
  • The hunger for natural resources -- everything from food to fossil fuels -- keeps growing by an average of more than 2.3 per cent per year, it said.
  • Extraction and processing of the huge amount of resources accounts for over 60 percent of planet-warming emissions, the report said.

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...
  • Addressing infrastructure and climate change is crucial for Africa's development, British Robinson, the Coordinator of the Prosper Africa Initiative, tell TRENDS in an interview.
  • Prosper Africa is a national security initiative aimed at providing supportive and positive assistance to the continent, ensuring its efforts are beneficial and not exploitative.

Wind-powered Dutch chemical tanker sets sail for greener future

Rotterdam, Netherlands - The world's first chemical tanker ship fitted with massive rigid aluminium "sails" has left Rotterdam, its owner hoping...
  • The MT Chemical Challenger, a 16,000-ton chemicals transporter set sail from Antwerp for Istanbul on Friday, and will undergo sea trials along the way
  • "As an avid sailor myself, I have been thinking for a long time how we can make our industry more sustainable," said Niels Grotz, chief executive of Chemship

Roadmap out for environmental education, sustainable development at WEEC2024

ABU DHABI, UAE - The Abu Dhabi Roadmap, a high-level plan outlining global recommendations to bolster Environmental Education (EE) and...

Big firms with $7trn exit climate investment pressure group

Launched in 2017, Climate Action 100+ aims to work with companies to halve their greenhouse gas emissions by 2030, through...
  • JPMorgan Asset Management, which manages $3.1 trillion in assets, has not renewed its membership in Climate Action 100+
  • BlackRock, the world's biggest asset manager, is also scaling back its work with the group, a spokesperson confirmed

UN chief slams ‘distressing’ spending on arms over climate

Without action, "the situation will deteriorate," he warned. "Conflicts are multiplying. The climate crisis is set to spiral, as emissions...
  • "It is distressing to see governments spending heavily on arms, while starving budgets for food security, climate action, and broader sustainable development," Guterres said
  • "We can break the deadly nexus of hunger, climate chaos, and conflict. And quell the threat they pose to international peace and security," Guterres added further

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...
  • The UAE, Brazil and Azerbaijan were mandated by 198 signatories to the Dubai agreement to work together on a roadmap to limit global warming to 1.5 C
  • The 1.5-degree Celsius limit will probably be reached between 2030 and 2035, according to the Intergovernmental Panel on Climate Change (IPCC)

Restoring sea floor after mining may not be possible, researchers warn

Kingston, Jamaica -- Scientists present at the latest effort to hash out international rules for deep-sea mining say it's unclear...

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Plastic pollution talks South Korea fail to reach landmark deal

Busan, South Korea - Deeply divided negotiators failed on Sunday to reach a landmark global treaty to curb plastic pollution, missing...

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 reaches $300 bn climate finance deal at COP29

A group of 134 developing countries had pushed for at least $500 billion from rich governments to build resilience against...

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Divided G20 fails to agree on climate action, Ukraine war escalation dominates Rio summit talks

G20 leaders in Rio failed to resolve UN climate talks deadlock, merely stating funding for developing countries battling global warming...
  • Ahead of the meeting, the UN had implored the leaders of the world's richest economies to rescue stalled climate talks in Azerbaijan by boosting funding for developing countries
  • G20 members, who are divided on who should pay, did not make such commitments, saying only that the trillions of dollars needed would come "from all sources."

COP29: Why new climate pledges need ambition, finance and action to succeed

Major emitters must take the lead, but every nation has a role in addressing the climate crisis. Success hinges on...
  • Many countries are due to submit their climate action plans – Nationally Determined Contributions – in 2025
  • The collective ability to limit global warming to 1.5°C depends on three key factors: ambition, finance and accelerated action

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...
  • More than 75 leaders are expected in Baku over two days but the heads of some of the most powerful and polluting economies are not attending this year's summit
  • Just a handful of leaders from the G20 -- which accounts for nearly 80 percent of planet-heating greenhouse gas emissions -- are expected in Azerbaijani capital