World sees first 12 months above 1.5C warming level, says climate monitor
PARIS, FRANCE - Earth has endured 12 consecutive months of temperatures 1.5C hotter than the pre-industrial era for the first time...
Science
Saudi Arabia to highlight role in dealing with global challenges at WEF meet
RIYADH, SAUDI ARABIA – Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef said that the Kingdom’s participation in the...
Economy
Science
Shamma bint Sultan calls for collaboration on climate change
Executive Director of the UAE Independent Climate Change Accelerators (UICCA) Sheikha Shamma bint Sultan bin Khalifa Al Nahyan highlighted the...
- Sheikha Shamma made the comments at the keynote address at the inaugural London Climate Technology Show.
- She called for greater innovation and collaboration between nations to identify and execute solutions that would drive positive impact.
Economy
Egypt to host 24th meeting of Gas Exporting Countries Forum
The meeting comes amid a global dialogue about energy security and just weeks ahead of the 2022 UN Climate Change...
- The meeting comes amid a global dialogue about energy security and just weeks ahead of the 2022 UN Climate Change Conference (COP27)
- The GECF comprises of 11 member states: Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago and Venezuela
Economy
IEA says fossil fuel CO2 emissions rise marginally in 2022
The International Energy Agency has said that global carbon dioxide emissions from fossil fuel combustion will grow just one percent...
- The increase was far smaller than the two-billion-tonne jump the world experienced last year as countries turned to fossil fuels to power their Covid-19 recoveries
- The IEA analysis showed that solar photovoltaic and wind capacity grew by more than 700 terawatt-hours in 2022, the largest single year rise on record
Business
BP to buy Archaea for US$4.1bn
BP bought US firm to reach net zero emissions by 2050.
- BP, the London-listed energy major, is flush with cash after recent surges in oil prices.
- There have been calls for the cash-strapped UK government to massively enlarge a windfall tax on British energy giants.
Economy
WFP calls for action to avoid another year of record hunger
UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri said that the crises facing the world today...
- The UAE has launched the Agriculture Innovation Mission for Climate (AIM for Climate) in partnership with the US.
- The objective is to raise investments worth US$8 billion in sustainable and climate-smart agrifood systems based on modern technologies.
Business
By 2030, TAQA targets a 25% reduction in greenhouse gas emissions
The strategy includes the national low-carbon power and water champion’s interim greenhouse gas (GHG) emissions reduction goals.
- The strategy includes the national low-carbon power and water champion’s interim greenhouse gas (GHG) emissions reduction goals
- TAQA will focus on the decarbonisation power and water supply, electrification across sectors to support more efficient use of power and water
Business
5.3 billion cell phones to become waste in 2022
Defunct cell phones are just the tip of the 44.48-million-ton iceberg of global electronic waste generated annually that isn't recycled.
- Despite containing valuable gold, copper, silver, palladium and other recyclable components, these devices will be dumped or incinerated, causing environmental harm.
- Studies show 46 percent of the 8,775 households surveyed considered potential future use as the main reason for hoarding small electrical and electronic equipment.
Economy
UN says half the world unprepared for disasters
The UN agencies for weather and for disaster risk reduction found countries with poor early warning systems on average see...
- Proper early warning systems for floods, droughts, heatwaves, storms or other disasters allow for planning to minimize adverse impacts
- The number of people affected by disasters had doubled from an average of 1,147 per 100,000 per year between 2005 and 2014, to 2,066 from 2012 to 2021, the UN report said
Geostrategy
UN urges transformation of global energy system
Climate change risks undermining global energy security unless the use of renewables is dramatically scaled up, the UN warned Tuesday,...
- Energy sector is a major source of the carbon emissions that drive climate change, the UN's World Meteorological Organization said.
- WMO said that increasingly extreme weather events, droughts, floods and sea-level rise - all linked to climate change - were already making energy supply less reliable.
Geostrategy
US climate spending could spark tariff war, says Scholz
German Chancellor Olaf Scholz criticized US climate protection plans that would shield domestic companies from foreign competition, saying they could...
- European Union officials have in recent weeks spoken out against planned US tax credits for the domestic electric vehicle market.
- South Korea has also voiced its displeasure, calling the new rules favoring American e-cars a "betrayal".
World sees first 12 months above 1.5C warming level, says climate monitor
PARIS, FRANCE - Earth has endured 12 consecutive months of temperatures 1.5C hotter than the pre-industrial era for the first time...
Science
Company News
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COP28 turns attention to potent methane emissions
Methane -- which is potent but relatively short-lived -- is a key target for countries wanting to slash emissions quickly...
Norwegian firm expects first cross-border transport of CO2 in 2025
Oslo, Norway -- Norwegian fertilizer group Yara International on Monday signed a contract to begin transporting CO2 produced at its Netherlands...
Business
World’s richest 1% emit as much carbon as bottom two-thirds: report
Among the key findings of this study are that the richest one percent globally -- 77 million people -- were...
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Business
Adoption of electric vehicles in US face infrastructure hurdles
NEW YORK, US - The US transition to electric cars has hit a speed bump, with concerns about vehicle range and...
- Automakers in recent weeks have pushed back EV sales targets and delayed capital projects as they seek to reduce inventories of unsold EVs at dealerships.
- The network of EV charging stations in the US remains dodgy, with many areas either lacking infrastructure or equipped with unreliable machines
UN says greenhouse gas emission reach all time high in 2022
The UN's World Meteorological Organization said levels of the three main greenhouse gases -- the climate-warming carbon dioxide, methane and...
- Such levels of heat-trapping gases will mean further temperature increases, more extreme weather and higher sea levels.
- The global mean temperature in 2022 was 1.15C above the 1850-1900 average, with 2023 likely to be the warmest year on record.
Economy
China emissions to fall in 2024 on renewables jump
The country has been installing renewable energy capacity at breakneck speed, with new solar in 2023 alone amounting to twice...
- China is the largest greenhouse gas emitter and has brushed aside calls for a more ambitious carbon neutrality target
- IEA says the country is projected to account for 45 percent of global emissions from existing fossil fuel assets