Public-private partnerships play key role in environmental finance, says EIF official
DUBAI, UAE – Public-private partnerships have the potential to play a significant role in mobilizing private financing for environmental solutions,...
COP28 last chance to keep 1.5C target alive: John Kerry
US climate envoy issued the warning after COP28 president Sultan Al Jaber proposed a draft deal that did not include...
COP28 UAE
Business
Standard Chartered starts sustainable account in UAE, Aldar first to open it
Abu Dhabi-based developer Aldar Properties became the first corporate in the UAE to open a sustainable bank account started by...
- Deposits in the accounts are used to fund sustainable projects.
- The bank has said the surplus cash will be used in addressing the climate crisis and financial exclusion.
Geostrategy
Big gap between COP26 words and climate action
Finance is a crunch issue at the summit, with developing nations demanding rich emitters make good on decade-old promises to...
- That figure is a drop in the ocean compared to the estimated $4 trillion needed annually to decarbonize the economy by 2050.
- Experts say an accord by more than 100 nations to slash methane emissions by 30 percent by 2030 could have a real impact on short-term heating.
Business
Cut meat consumption to avert climate catastrophe: Report
Fossil fuels, energy and transport tend to dominate climate discussions. Governments largely ignore livestock’s contribution to climate change, terrified of...
- Fossil fuels, energy and transport tend to dominate climate discussions
- The livestock sector is responsible for 14.5% of global greenhouse gas (GHG) emissions
Research
Global CO2 emissions set to rebound this year to pre-Covid levels
Overall, CO2 pollution this year will be just shy of the record set in 2019, according to the annual report...
- Emissions from gas and highly polluting coal will rise this year by more than they dropped in 2020
- Capping the rise in global temperature to 1.5 degrees Celsius above pre-industrial levels -- as per the Paris Agreement -- would limit mortality and damage
Geostrategy
19 countries vow to end overseas fossil fuel finance
Major coal, oil and gas funders China, Japan and South Korea were absent from the pledge. The IEA says that...
- Unabated fossil fuel projects are those that do not deploy technology to absorb the carbon pollution they produce.
- G20 nations last month agreed to end financial support for new unabated coal plants abroad.
Science
Global CO2 emissions in 2021 near record levels, says report
CO2 pollution this year will be just shy of the record set in 2019, according to the Global Carbon Project...
- Capping the rise in global temperature to 1.5 degrees Celsius above pre-industrial levels would limit mortality and damage
- However, it requires slashing carbon emissions nearly in half by 2030 and to net zero by 2050
Economy
$4 bn US-UAE effort to help farming adapt to climate change
During the UN talks in Glasgow, Scotland, the two countries launched the Agriculture Innovation Mission for Climate.
- During the UN talks in Glasgow, Scotland, the two countries launched the Agriculture Innovation Mission for Climate
- The AIM is seen as critical for averting the most disastrous impacts of climate change
Economy
Arab nations’ pledge bolsters COP26 message
The UAE, Saudi Arabia, and Egypt have made some strong climate-action pledges at or before COP26.
- The summit may not achieve its target of reducing carbon emissions by 45 percent by 2030
- COP26 wants governments to adopt carbon emission targets through 2030
Geostrategy
UK pledges $68 million for Middle East North Africa green transition
LONDON: The United Kingdom will provide $68 million in funding to help the Middle East and North African countries' energy...
- Britain's Minister for the MENA region James Cleverly announced the funding at the COP26 in Glasgow.
- The funding will go toward the High Impact Partnership on Climate Action, which was launched at the event.
COP26 leaders vow new drive to save forests
The summit's chair, British Prime Minister Boris Johnson, said the agreement on deforestation was pivotal to the overarching ambition of...
- The pledge is backed by almost $20 billion in public and private funding
- Greenpeace slammed the Glasgow initiative for allowing "another decade of deforestation"
Public-private partnerships play key role in environmental finance, says EIF official
DUBAI, UAE – Public-private partnerships have the potential to play a significant role in mobilizing private financing for environmental solutions,...
Company News
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Syria’s ancient adobe houses threatened by war, displacement
"Village Umm Amuda Kabira in Aleppo once had 3,000 to 3,500 residents and some 200 mud houses," said Mahmud al-Mheilej,...
UAE to host faith leaders for climate crisis summit prior to COP28
Abu Dhabi, UAE - A global summit for faith leaders from around the world will take place in Abu Dhabi...
2023 likely to be hottest year in human history, says EU climate monitor
"2023 is the year that climate records were not just broken but smashed," said Mark Maslin, a professor of climatology...
Geostrategy
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Geostrategy
World inches step closer towards plastic pollution deal: UN
Some 175 nations are working to reach a landmark agreement by end-2024 that will curb plastic pollution, which ends up...
- Global plastic production has more than doubled since the start of the century to reach 460 million tons and could triple by 2060 if nothing is done. Only 9% is currently recycled.
- The draft deal, published by the Intergovernmental Negotiating Committee, will form the basis of fresh talks in the Kenyan capital, Nairobi, on November 13-19.
Geostrategy
UAE and Africa strengthen carbon market collaboration
"Our collaboration with the Africa Carbon Markets Initiative provides carbon market buyers in the UAE and wider region with access...
- The UAE Carbon Alliance has signed a Letter of Intent for a US$450 million purchase of African carbon credits by 2030
- Collaboration with Africa Carbon Markets Initiative will provide UAE with access to high-quality carbon credits from Africa
Business
Tech’s carbon footprint: can AI revolutionize responsibly?
The planet's 8,000 or so data centers are the foundation of our online existence, and will grow ever further with...
- In 2019, researchers trained several large language models, and found that training a single AI model can emit the CO2 emission equivalent of five cars over their lifetimes.
- Between 2010 and 2018, global data center energy use rose by only 6 percent, despite a 550 percent increase in workloads and computing instances, according to the IEA.