Barclays bank to stop financing new oil, gas projects
London, United Kingdom -- British bank Barclays said Friday it would stop directly financing its energy clients' new oil and gas...
Business
Embracing renewables secures UAE’s green future
"COP28 saw all parties reach an agreement on the historic ‘UAE Consensus.’ This consensus includes achieving a well-organized, responsible, fair,...
Economy
Geostrategy
‘UAE President’s speech at COP27 outlined vision for climate action’
SHARM EL SHEIKH, EGYPT - UAE Minister of Industry and Advanced Technology Dr. Sultan bin Ahmed Al Jaber said that...
- UAE Minister of Industry said effective climate action accelerates opportunities for sustainable economic and social development.
- The minister said that the President's speech emphasized that continuity and perseverance are at the core of the UAE’s strategy.
Geostrategy
COP27: Choose climate solidarity or collective suicide, UN chief tells world leaders
Humanity is in "the fight of our lives" as climate change intensifies droughts, floods and heatwaves, UN chief Antonio Guterres...
- The UN chief called for a "historic" deal between rich countries and emerging economies that would aim to reduce emissions.
- The UN chief said the target should be to provide renewable and affordable energy for all.
Economy
WTO urges countries to lift green trade barriers
The World Trade Organization urged countries to abolish trade barriers in environmental goods and services to help fight climate change....
- Trade is a force for good for climate and part of the solution for achieving a low-carbon, resilient and just transition, the WTO said.
- Reducing tariffs and non-tariff measures on energy-related environmental goods could increase exports of these products by five percent by 2030, the WTO said.
Economy
UAE to unveil its Net Zero by 2050 roadmap at COP27: Almheiri
‘The UAE is also working on a comprehensive assessment of the status and movement of sustainable financing solutions, including green...
- ‘The UAE is also working on a comprehensive assessment of the status and movement of sustainable financing solutions, including green bonds’
- ‘The country would focus on intensifying efforts to promote climate-smart initiatives to benefit the private sector, through a set of reports and evidence’
Science
Global warming rising at alarming rate, says UN
Greenhouse gases accounting for over 95 percent of warming are at record levels, with methane showing the largest one-year jump...
- Earth has warmed more than 1.1 degrees Celsius since the late 19th century, with roughly half of that increase occurring in the past 30 years.
- Driven by melting ice sheets and glaciers, the pace of sea level rise doubled in the past 30 years, threatening millions in low-lying coastal areas.
Science
‘UAE to reveal implementation map of Net Zero 2050 at COP27’
Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri said the UAE’s participation in the 27th session of...
- A UAE minister said the COP27 focuses on financing and ensuring equitable participation of developing countries in climate action efforts.
- She said the UAE will invite the world to participate in the efforts to spread and use renewable energy.
Geostrategy
COP27 summit opens as world races against climate clock
Just in the past few months, climate-induced catastrophes have killed thousands, displaced millions and cost billions in damages across the...
- The COP27 summit will focus like never before on money. Developing nations have "high expectations" for the creation of a dedicated funding facility to cover "loss and damage"
- The most conspicuous no-show will be China's Xi Jinping, whose leadership was renewed last month at a Communist Party Congress.
Economy
COP27 summit in Egypt reckons with gravest threat to humanity
The already daunting task of decarbonizing the global economy in a few years has been made even harder by a...
- Current trends would see carbon pollution increase 10 percent by the end of the decade and Earth's surface heat up 2.8C, according to findings unveiled last week
- The already daunting task of decarbonizing the global economy in a few years has been made even harder by a global energy crunch and rapid inflation
Business
Climate activists deface Goya frames at Spain’s Prado
Saturday's stunt in Madrid was the latest increasingly daring action taken by climate activists to grab the headlines, including throwing...
- The protest at the famed Prado museum damaged neither painting, but the protesters scrawled "+1,5°C" on the wall between the two artworks and both were detained
- Spanish Culture Minister Miquel Iceta denounced the attack, writing on Twitter that it was an "act of vandalism" and that "no cause justifies attacking everyone's heritage"
Science
COP27 must shift from talk to action says UN climate chief
The upcoming COP27 climate summit in Egypt must mark a leap from the process of hammering out a treaty to...
- Diplomats from nearly 200 countries are gathering in the Red Sea resort for the November 6-18 conference.
- The US and the European Union - fearful of creating an open-ended reparations framework - have dragged their feet.
Barclays bank to stop financing new oil, gas projects
London, United Kingdom -- British bank Barclays said Friday it would stop directly financing its energy clients' new oil and gas...
Business
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Climate change already reducing global GDP: report
Low- and middle-income countries have experienced a combined loss in capital and GDP totaling $21 trillion, about half of the...
COP28 host UAE braces for rising heat risk, targets carbon neutrality
As global temperatures tick higher, with this year on course to be the hottest on record, the UAE is changing...
Geostrategy
Every industry should be held accountable on climate, says COP28 president
Paris, France - The president of a pivotal UN climate summit defended on Saturday the large presence of industry representatives at...
Geostrategy
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Economy
Rising temperatures worry MENA region
The Middle East and North Africa (MENA) region faces severe climate change challenges, including water scarcity and extreme temperatures, with...
- With diverse strategies from GCC to non-GCC nations, the battle against climate change underscores a delicate balance between economic growth and environmental sustainability.
- In the MENA region, resource-rich GCC countries are better equipped to tackle climate change challenges that threaten food security, water resources, and biodiversity.
Business
UAE company secures African land the size of the UK for carbon offset projects: report
Dubai, UAE - Blue Carbon, a Dubai-based company has secured expansive forested land across several African nations, a CNN report...
- The area is earmarked for conservation projects aimed at safeguarding forests and preventing significant amounts of carbon dioxide from entering the atmosphere
- Forest conservation agreements involving Zimbabwe, Zambia, Kenya, Liberia, and Tanzania were announced in the months leading up to the COP28 climate summit
Economy
MENA’s $2trn construction boom boosts sustainability
With innovative technologies and a focus on reducing emissions, this transformation could position the region as a global leader in...
- With innovative technologies and a focus on reducing emissions, this transformation could position the region as a global leader in sustainable urban development.
- The region sees a unique chance to pioneer sustainable technologies, potentially reducing lifecycle emissions by 50-60%, highlights Strategy& Middle East and Dar.