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...
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...
Race against time after deadly Japan quake
The 7.5-magnitude quake, which hit Ishikawa prefecture on the main island of Honshu, triggered tsunami waves more than a meter...
- USGS said the quake had a magnitude of 7.5. Japan's meteorological agency measured it at 7.6 and said it was one of more than 150 to shake Noto peninsula
- Almost 33,000 households were without power in the region, which saw temperatures touch freezing overnight, the local energy provider said
Geostrategy
Sheikh Hamdan issues resolution regulating single-use products in Dubai
DUBAI, UAE - Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive...
- The aim of the resolution is to protect the environment, encourage people to adopt an eco-friendly lifestyle.
- The move also aims to encourage the private sector to promote the use of recycled products.
Business
GCC forges ahead in sustainable tech initiatives
In 2023, the Gulf countries made a strong push towards renewable energy and pioneering green hydrogen projects, signaling a significant...
- In 2023, the Gulf countries made a strong push towards renewable energy and pioneering green hydrogen projects, signaling a significant green transition in the region.
- The GCC's commitment to sustainable technology initiatives, including advancements in renewable energy, green hydrogen, and smart city solutions, make it a global leader.
Business
IsDB, SWCC sign agreement
The collaboration will involve efforts from both parties.
- The agreement includes a mechanism for exchanging knowledge and experiences.
- It would involve transferring the experience of SWCC to the member countries of IsDB.
Economy
Sustainable mobility rises as GCC turns to hydrogen
MENA countries, adopting ambitious clean energy and transportation strategies, aim for significant hydrogen production by 2050, led by UAE's National...
- MENA countries, adopting ambitious clean energy and transportation strategies, aim for significant hydrogen production by 2050, led by UAE's National Hydrogen Strategy.
- The BMW Group's innovative electric and hydrogen vehicles, showcased at COP28, underscore a pivotal shift in the GCC and MENA regions towards a greener, cleaner future.
Economy
ADDED, Siemens Energy to support sustainable industrial development in Emirate
ABU DHABI, UAE - Abu Dhabi Department of Economic Development (ADDED), represented by Industrial Development Bureau (IDB), and Siemens Energy...
- The collaboration supports Abu Dhabi Industrial Strategy's vision to establish the Emirate as the most competitive industrial hub in the region.
- Siemens Energy will support IDB to localize the manufacturing capabilities in Abu Dhabi and provide technological solutions.
Business
Oman to expand production of green hydrogen to boost non-oil economy
Hong Kong - The government of Oman’s targets to expand local green hydrogen production could support key credit metrics, such as...
- The government aims to raise renewable energy-based hydrogen production to at least one million metric tonnes (mt)/year by 2030.
- Local state-owned enterprise Hydrogen Oman (Hydrom) signed six investment agreements, worth over US$38 billion, with partners in 2023.
Business
TAQA, GS Inima and EWEC seal deal
Abu Dhabi's Shuweihat 4 desalination project secures $444 million.
- The S4 RO project is primarily funded 71 percent through debt financing from both local and international banks.
- The financial closing comes after TAQA and GS Inima signed the water purchase agreement with EWEC in August 2023.
Economy
Climate threats haunt GCC’s economy and finance
The GCC faces a critical challenge as climate risks like extreme heat and water stress rise, potentially impacting the region's...
- The GCC faces a critical challenge as climate risks like extreme heat and water stress rise, potentially impacting the region's economic stability and financial health.
- A new S&P Global report underscores the urgency for adaptation and resilience investments to mitigate risks such as climate-induced flooding.
Geostrategy
Turkmenistan worried as Caspian Sea continues to shrink
Turkmenbashi, Turkmenistan - On the Caspian Sea coast in Turkmenistan, Batyr Yusupov can no longer ferry his passengers between two ports....
- It is still not entirely clear why that is happening, but scientists say it is down to naturally occurring processes exacerbated by climate change
- Turkmenistan, a former Soviet republic, is one of five countries on the Caspian Sea together with Azerbaijan, Kazakhstan, Iran and Russia
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...
Company News
Latest News
Poorer countries need money before raising climate targets, says COP29 head
Copenhagen, Denmark - Developing countries should not have to set stricter targets for cutting their carbon emissions before funds are available...
Geostrategy
No oil and gas majors aligned with climate targets: report
An A grade would be potentially aligned with the goals of the 2015 Paris Agreement to limit temperature rise to...
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),...
Geostrategy
Most Read
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
Economy
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.
Interview
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.