Concerns and optimism on World Environment Day as Arabian Gulf takes bold initiatives
Political and business leaders in the Arabian Gulf region push for sustainability agenda to secure clean environment for the future...
Economy
Sheikh Hamdan praises ADNOC’s efforts in using AI in production process
ABU DHABI, UAE - Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region, said that under the...
Business
Business
Abu Dhabi’s EWEC opens Q4 2023 Clean Energy Certificates auction
ABU DHABI, UAE - Emirates Water and Electricity Company (EWEC) on Monday announced that it will conduct its Q4 2023...
- CECs are the only accredited instruments in the Emirate that prove the environmental and economic benefits of consuming clean energy.
- Issued in units of 1MWh, each CEC certifies that the electricity consumed by the entity originates from a clean energy source.
Geostrategy
COP28 host UAE braces for rising heat risk, targets carbon neutrality
As global temperatures tick higher, with this year on course to be the hottest on record, the UAE is changing...
- The UAE's scorching summers, when many flee for cooler climes and the streets empty, look set to worsen due to climate change, various studies show
- The region's extreme heat and high humidity are a dangerous mix as in such conditions the human body struggles to cool itself by evaporating sweat on the skin
Geostrategy
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...
- "Everyone needs to be part of this process and everyone needs to be held responsible and everyone needs to be held accountable," COP28 president Sultan Al Jaber said
- "That includes all industries and in particular heavy emitting industries like aviation, transportation, aluminum, cement, steel, as well as the oil and gas industry," he added
Economy
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)...
- By 2030, more than 55 percent of the population of Asia and the Pacific will live in urban areas, driving up demand for urban-related services.
- If urban areas continue along the same growth trajectory, Asian cities could contribute over half of the rise in global GHG emissions in the next 20 years.
Business
ADNOC unveils inaugural green hydrogen refueling station
Abu Dhabi, UAE - ADNOC announced on Friday it opened “H2GO”, the region’s first high-speed green hydrogen pilot refueling station,...
- The station will be operated by ADNOC Distribution, and is likely to create green hydrogen from water using an electrolyser powered by clean grid electricity.
- The hydrogen supplied at the pilot station will be certified as “green” from solar sources by the International REC Standard.
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...
- With diverse strategies from GCC to non-GCC nations, the battle against climate change underscores a delicate balance between economic growth and environmental sustainability.
- In the MENA region, resource-rich GCC countries are better equipped to tackle climate change challenges that threaten food security, water resources, and biodiversity.
Business
Masdar City completes first net-zero energy commercial building in region
ABU DHABI, UAE - Masdar City, a sustainable urban community and a business and technology hub here, has just completed...
- NZ1 is designed to consume 53 percent less energy than an equivalent conventional building.
- Solar panels will generate 101 percent of the building’s annual energy needs, making it net-zero energy.
Economy
Oil slides further after OPEC delay as Asian stocks struggle
Both main crude contracts slipped more than one percent on news that the much-anticipated gathering of the major producers would...
- Riyadh and Russia unveiled massive cuts earlier this year in a bid to boost prices
- Many experts believe global supplies were healthier than expected
Business
Indonesia unveils plan to bring $20bn energy investment from West
Jakarta, Indonesia - Indonesia on Tuesday launched an investment plan to attract $20 billion pledged by Western nations in a renewable...
- The roadmap, which comes less than two weeks before the COP28 summit in Dubai, outlines Jakarta's vision to reach net-zero power sector emissions by 2050.
- Under the plan, Indonesia will seek to slash its carbon dioxide emissions to 250 million metric tons for its on-grid power sector by 2030.
Geostrategy
Earth to warm up to 2.9C even with current climate pledges, says UN
PARIS, FRANCE - Countries' greenhouse gas-cutting pledges put Earth on track for warming far beyond key limits, potentially up to a...
- The UN Environment Program's annual Emissions Gap report is released just ahead of crucial COP28 climate talks in Dubai .
- Taking into account countries' carbon-cutting plans, UNEP warned that the planet is on a path for disastrous heating of between 2.5C and 2.9C by 2100.
Concerns and optimism on World Environment Day as Arabian Gulf takes bold initiatives
Political and business leaders in the Arabian Gulf region push for sustainability agenda to secure clean environment for the future...
Economy
Company News
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Europe’s gas demand at 10-year low, to peak in 2025: report
The invasion of Ukraine by Russia triggered a massive shift by European nations away from Russian natural gas delivered by...
Business
Dutch court upholds $50bn payment award in Yukos case
THE HAGUE, NETHERLANDS - A Dutch court quashed an appeal by Russia in a record $50-billion case on Tuesday, paving the...
Geostrategy
WEF24: Pragmatic actions to help in carbon neutrality
Technology investment and corporate partnerships can play a crucial role in driving significant emission reduction, Hans Kobler of Energy Impact...
Interview
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Roadmap out for environmental education, sustainable development at WEEC2024
ABU DHABI, UAE - The Abu Dhabi Roadmap, a high-level plan outlining global recommendations to bolster Environmental Education (EE) and...
Business
QEWC 2023 net profit US$426m
QEWC market share in supply of electricity was 61 percent.
- The earnings per share amounted to US$0.38 (QR 1.41) as of December 31, 2023.
- QEWC reported revenue of $799 million in 2023 compared to $747 million in 2022.
Geostrategy
Saboteurs hit Iran pipelines disrupting gas supply: state media
The saboteurs hit pipelines in the cities of Borujen in the southwestern province of Chaharmahal and Bakhtiari, and Safashahr in...
- State media reported that the sabotage had disrupted gas supplies in at least three provinces -- North Khorasan in the northeast, Lorestan in the west and Zanjan in the northwest
- No group claimed responsibility for the attacks and Iran did not immediately apportion blame, although Iran has generally blamed Israel for similar acts of sabotage in the past