Eight-country coalition aims to tax luxury air travel
Seville, Spain -- Countries including France, Kenya, Barbados and Spain on Monday launched a coalition to push for taxes on...
Business
UAE orders all companies to monitor emissions in new climate law
Under the new law, companies are required to report and reduce their emissions of the greenhouse gases that are responsible...
Geostrategy
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
Business
London’s transport shifts gears with TfL’s cargo bike action plan
London, United Kingdom - On a busy north London street, plumber Ben Hume-Wright zipped through the heavy rush-hour traffic to his...
- Transport for London (TfL), the local government body responsible for most of the British capital's transport network, launched its first "Cargo Bike Action Plan" earlier this year
- The use of cargo bikes also increased during lockdown and encouraging their use chimes with Mayor Sadiq Khan's aim of a carbon net-zero city by 2030
Business
ENEC announces completion of Unit 4 of Barakah Nuclear Energy Plant
The Federal Authority for Nuclear Regulation (FANR), the UAE's independent nuclear regulator, recently issued the Operating License for Unit 4...
- The three current commercially operating Units at Barakah, delivered in three consecutive years, are already generating more than 30TWh of zero-emission electricity every year.
- The Barakah Plant, a pivotal player in the international nuclear energy sector, boasts four APR-1400 units, marking it as one of the largest nuclear energy facilities globally.
COP28 UAE
New platform to revolutionize global sustainability
World Wide Generation's and e& join hands to combine innovative technology and global collaboration to address critical environmental, social, and...
- World Wide Generation's and e& join hands to combine innovative technology and global collaboration to address critical environmental, social, and economic challenges.
- The G17Eco platform, powered by WWG, equips organizations to effectively access and utilize sustainability data, integrating solutions and finances for comprehensive reporting.
COP28 UAE
Innovative solutions crucial for marine conservation
The MENA Oceans Network, launched at the COP28, marks a pivotal step in addressing urgent ocean-related challenges in the region,...
- The MENA Oceans Network, launched at the COP28, marks a pivotal step in addressing urgent ocean-related challenges in the region, says Tatiana Antonelli Abella of Goumbook.
- This multi-stakeholder initiative, supported by the UN-UAE Office, aims to enhance marine conservation, promote a sustainable blue economy, and support SDG14 drive, she adds.
COP28 UAE
COP28 initiatives to narrow climate finance disparity
Antoine Samaha of BCG applauds the launch of a Loss and Damage Fund for developing countries, emphasizing the need for...
- At COP28, a significant focus was placed on climate finance, with the establishment of a Loss and Damage Fund to aid developing countries.
- Antoine Samaha of BCG underscores the urgency of securing more funds and ensuring its equitable distribution to combat climate change.
Geostrategy
UAE, Turkey explore ways to enhance bilateral relations
Abu Dhabi, UAE - UAE President Sheikh Mohamed bin Zayed Al Nahyan discussed bilateral ties with Recep Tayyip Erdogan, President...
- UAE President Al Nahyan and Turkish president Erdogan also exchanged views on various regional and international issues of mutual interest.
- The two leaders emphasized the importance of an immediate ceasefire in the Gaza Strip, ensuring the protection of civilians .
Eight-country coalition aims to tax luxury air travel
Seville, Spain -- Countries including France, Kenya, Barbados and Spain on Monday launched a coalition to push for taxes on...
Business
Company News
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Can biodiversity credits unlock billions for nature?
Paris, France - For supporters, biodiversity credits could unlock billions in much-needed funding for nature, but critics fear a repeat of...
World Bank boosts climate financing by 10 percent
Washington, United States - The World Bank announced Thursday that it delivered a record $42.6 billion in climate change financing in...
UN draft on climate finance highlights deep divisions ahead of COP29
Paris, France - The UN has published a draft on climate financing due to be presented at the COP29 in November,...
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Geostrategy
Top Europe rights court to issue landmark climate verdicts
STRASBOURG, FRANCE – Europe's top rights court will on Tuesday issue unprecedented verdicts in three separate cases on the responsibility of...
- In a sign of the importance of the issue, the cases have all been treated as priority by the Grand Chamber of the ECHR.
- All three cases accuse European governments of inaction or insufficient action in their measures against global warming.
Business
Electric cars credited with lower CO2 emissions in US neighborhoods
LOS ANGELES, US – The booming use of electric vehicles in parts of California is reducing CO2 emissions in those areas,...
- Scientists at the University of California, Berkeley, say a network of sensors has logged a small drop in the volume of carbon dioxide.
- Carbon dioxide is one of the main contributors to global warming, the human-caused phenomenon of rising temperatures.
Economy
Climate change is slowing heat waves, prolonging misery
While previous research has found climate change is causing heat waves to become longer, more frequent and more intense, the...
- "If a heatwave is moving slower, that means heat can stay in a region longer, so that has effects on communities," senior author Wei Zhang of Utah State University told
- Researchers used climate models to determine what the results would have looked like absent human-caused climate change, and found manmade factors loomed large