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...
Economy
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...
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".
Opinion
Debt financing in climate tech sector set to grow
In climate-related sectors, debt funding is becoming more prevalent outside of traditional project finance opportunities such as solar parks, wind...
- The debt financing universe has evolved over the last decade in response to this phenomenon and debt is no longer just the preserve of large technology companies.
- Lenders are increasingly active within the start up to unicorn universe alongside profitable software businesses. Also, lenders offer a wide range of hybrid financing solutions
Interview
Sustainability key focus of GCC automotive industry
Current trends in the automotive sector such as zero-emission vehicles and carbon-neutral manufacturing demonstrate the growing importance of sustainability, says...
- BMW Group is placing sustainability at the center of their strategic direction across all divisions, says a key BMW Group Middle East official
- By 2030, BMW will release around 10 million fully electric vehicles onto the roads, adds Hamid Haqparwar, Managing Director at BMW Group Middle East
Science
‘Heatwave to make human life unsustainable in certain areas’
GENEVA, SWITZERLAND - Heatwaves will become so extreme in certain regions of the world within decades that human life there...
- Heatwaves are predicted to "exceed human physiological and social limits" in the Sahel, the Horn of Africa and south and southwest Asia.
- "There are clear limits beyond which people exposed to extreme heat and humidity cannot survive," a report by the UN and Red Cross said.
Science
Protecting biodiversity is important, says Egyptian minister
Egypt’s Minister of Environment Yasmine Fouad said that protecting migratory birds and biodiversity is one of the global and regional...
- The conference aims to document mutual understanding between the energy sector and nature conservation organizations.
- Another aim is to strengthen relationship, understanding, and partnership between nature conservation, especially birds and energy infrastructure.
Science
DEWA invites proposals for work on sixth phase of solar park
Dubai Electricity and Water Authority (DEWA) has invited international developers to send their Expressions of Interest (EOI) to implement the...
- The 900 MW sixth phase of the Solar Park will be implemented using photovoltaic solar panels.
- The production capacity of clean energy has reached about 12.1 percent of Dubai’s total energy mix.
Economy
‘Unit 3 of Barakah Plant linked to UAE’s transmission grid’
The Emirates Nuclear Energy Corporation (ENEC) announced that Unit 3 of the Barakah Nuclear Energy Plant has successfully been connected...
- Unit 3 will add another 1,400 megawatts of zero-carbon emission electricity capacity to the national grid.
- The nuclear sector is a vital part of the UAE’s clean energy system of multiple low-carbon technologies.
Business
Deal reached for civil aviation to try for net-zero emissions by 2050
The assembly, which brought together representatives from 193 nations at the International Civil Aviation Organization (ICAO) headquarters in Montreal, reached...
- The agreement, however, was far from satisfying for some NGOs expressing regret it didn't go far enough and was not legally binding
- The air transportation industry has faced growing pressure to deal with its outsized role in the climate crisis
Science
Egypt replants mangrove to fight climate change
Sayed Khalifa, the head of Egypt's agriculture syndicate, calls the unique plants a "treasure" because of their ability to grow...
- After decades of destruction in Egypt that saw the mangroves cleared, all that remained were fragmented patches totaling some 500 hectares
- The stands of trees help filter out water pollution and act as a natural barrier against rising seas and extreme weather, shielding coastal communities from destructive storms
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
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...
Economy
Company News
Latest News
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
ADB plans to invest US$100bn to maximize climate impact
MANILA, PHILIPPINES - Setting the scene for a low-carbon and climate-resilient Asia and the Pacific, the Asian Development Bank (ADB)...
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...
Economy
Most Read
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.
Geostrategy
Fishing nations pledge to protect sharks, rays
CAIRO, EGYPT - Atlantic fishing nations have agreed to better protect sharks and rays by limiting the retention of several bycatch...
- Sharks and rays are facing what conservationists have called an extinction crisis, with nearly two thirds of coral reef species at risk.
- Sharks and rays must be better protected by governments and fisheries said an advocacy coalition advancing conservation policies.
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...
- Methane is the second largest contributor to climate change, accounting for around 16 percent of the warming effect
- It remains in the atmosphere for only about 10 years, but has a much more powerful warming impact than CO2