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
Jordan takes steps to raise position in Global Food Security Index, says minister
AMMAN, JORDAN - Agriculture Minister Khaled Al-Hneifat said the ministry has been working hard over the past year to create...
Geostrategy
Economy
Dubai Supreme Council of Energy approves 2030 carbon strategy
The approval came at a meeting chaired by the council’s chairman Sheikh Ahmed bin Saeed Al Maktoum.
- The council approved the updated plans and objectives to reduce carbon emissions by 30 percent by the end of 2030
- This move is expected to, among other things, support the UAE’s efforts to achieve carbon neutrality by 2050
Business
US judge cancels major oil and gas exploration sale
A US judge on Thursday canceled the sale of oil and gas exploration leases of some 80 million acres in...
- US Federal District Court Judge Rudolph Contreras declared existing contracts invalid
- He said the Department of the Interior did not adequately consider the leases' impact on climate change
Business
Dubai to host international aid conference in March
The 18th annual Dubai International Humanitarian Aid and Development Conference and Exhibition - DIHAD 2022, will take place from 14th...
- The event will highlight the importance of strengthening partnerships and the need for global cooperation to tackle humanitarian issues
- DIHAD is the first-ever humanitarian aid and development event in the Gulf, supported by Mohammed bin Rashid Al Maktoum Global Initiatives
Economy
EU nations debate whether nuclear, natural gas energy ‘sustainable’
Hours before the window for lodging objections closed, EU environment and energy ministers meeting in France on Friday differed sharply...
- The controversy pits countries led by France against Germany, Austria, and others in the EU
- Nuclear power is carbon-free, while gas is significantly less polluting than coal
Business
‘World first’ hydrogen shipment set to leave Australia for Japan
A state-of-the-art liquid hydrogen tanker readied for loading in Australia Friday ahead of shipment to Japan, in what Canberra described...
- The Suiso Frontier is docked near Melbourne and is being loaded with super-cooled hydrogen, a source of fuel that supporters hope could one day rival LNG.
- Hydrogen produces only steam and no carbon dioxide when burnt, making it an attractive possible alternative to dirtier fossil fuels.
Geostrategy
UN confirms 2021 among seven hottest years on record
The past seven years have been the hottest on record, the United Nations confirmed Wednesday, adding that 2021 temperatures remained...
- The warmest seven years have all been since 2015, the UN's World Meteorological Organization said.
- 2021 also marked the seventh consecutive year that global temperatures were more than 1C above pre-industrial levels.
Science
Abu Dhabi’s Blue Carbon Project to check emissions, climate change: EAD
Abu Dhabi's Blue Carbon Project is a promising initiative to prevent increased carbon emissions caused by the destruction of ecosystems,...
- Blue Carbon refers to the ability of coastal vegetation to store carbon and if this vegetation is destroyed, buried carbon could be released into atmosphere.
- Blue carbon ecosystems, which include mangrove forests, salt marshes, and seagrass beds, store and sequester carbon in biomass and sediments
Economy
IRENA sees rapid growth of hydrogen economy
The development may bring significant geo-economic and geopolitical shifts in the energy market, which is currently valued at $174 billion.
- IRENA estimates hydrogen to cover up to 12 percent of global energy use by 2050
- This is due to the climate urgency and countries’ commitments to net-zero emissions
Geostrategy
Last nine years all among 10 hottest-ever: US agency
The nine years spanning 2013-2021 all rank among the 10 hottest on record, according to an annual report by the...
- A separate analysis of global temperature released by NASA had 2021 tying with 2018 as the sixth-warmest on record
- Last year also saw nearly 700 people die in the contiguous United States due to extreme weather events, such as Hurricane Ida
Geostrategy
Covid and its effects continue to pose threat to world: WEF risks report
The Global Risks Report 2022 released by the World Economic Forum said vaccine inequality and a resultant uneven economic recovery...
- In the poorest 52 countries—home to 20 percent of the world’s people—only 6 percent of the population had been vaccinated so far.
- By 2024, developing economies (excluding China) will have fallen 5.5 percent below their pre-pandemic expected GDP growth,
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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
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Oil industry is an integral part of climate solutions, says COP28 head
President of the upcoming COP28 climate talks Sultan Al Jaber, also the head of UAE state-owned oil firm ADNOC, told...
Geostrategy
ADB capital reforms unlock $100bn to support Asia and the Pacific region
MANILA, PHILIPPINES - The Asian Development Bank (ADB) approved capital management reforms that unlock US$100 billion in new funding capacity...
Economy
IMF approves $1.3bn for Morocco to help transition to a greener economy
WASHINGTON, US - The International Monetary Fund (IMF) Executive Board approved a Resilience and Sustainability Facility (RSF) for Morocco of...
Geostrategy
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Science
Politicians fail to understand scientific facts of climate, says expert
PARIS, FRANCE - Wavering ambition by governments and a growing belief that science is politically subjective are great causes for concern...
- Several extreme weather events have occurred in 2023, which the European Union's climate monitor says is likely to be the hottest in human history.
- These underscores the urgency of slashing planet-heating greenhouse gas emissions to avert the catastrophic impacts of greater global warming.
Business
‘Mainstream sustainability for a net-zero future’
“As the UAE gears up to host COP28, it's crucial to involve all partners in hastening climate action, both locally...
- UAE Minister of Climate Change and Environment, Mariam bint Mohammed Almheiri, emphasizes the importance of integrating sustainability into business operations
- At the 12th NDCA, Minister Almheiri urges businesses to mainstream sustainability and highlights the pivotal role of carbon registries in achieving Net Zero by 2050
Science
Antarctic sea ice hits lowest winter maximum on record, says data
WASHINGTON, US - The sea ice around Antarctica likely had a record low surface area when it was at its maximum...
- The ice pack typically reaches its largest size during the colder winter months, so the September 10 reading will likely remain this year's maximum.
- At its high-point this year, the sea ice was 1.03 million square kilometers smaller than the previous record.