Climate Change

Amazon triples quarterly profit

The company's cloud, ads, and retail businesses thrive.

McDonald’s profits up 7%

The quarterly profits increased despite weak Middle East sales.

ADQ buys stake in Plenary Group

The deal is aimed at expanding public and social infrastructure.

FPT and Nvidia to build AI factory

Nvidia had invested around $250 million in Vietnam.

Swiss reserve hike hits UBS

The reserve requirement will increase from 2.5% to 4% from July 1.
  • 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, a study showed on Thursday, bolstering a key pillar of the state's drive towards net zero. Scientists at the University of California, Berkeley, say a network of sensors set up...
  • ‘Private sector plays key role in climate resilience’

    Private sector has the ability to mobilize resources and foster innovative solutions for vulnerable communities, Dominica's Environment Minister Cozier Frederick tells TRENDS.
  • OPEC chief says ‘single solution’ non existent for energy transition

    Dubai, UAE - The OPEC oil cartel said Saturday there was no "single solution" to the energy transition as pressure grows to agree a phase-out of fossil fuels at the COP28 climate talks. "There is no single solution or path to achieve a sustainable energy future," said a speech by OPEC secretary...
  • China pushes for ‘acceptable’ to all deal on fossil fuel at COP28

    Despite efforts by the OPEC oil cartel to block any text targeting fossil fuels at COP28, Chinese envoy Xie Zhenhua told reporters that "some progress" has been made on the issue. "If we do not resolve this issue, I don't see much chance in having a successful COP28," he said.
  • UAE leads global renewable energy drive: IRENA envoy

    The UAE plays a pivotal role as IRENA headquarters and key renewable energy hub, Dr Nawal Al Hosany, the permanent representative of the UAE to IRENA, tells TRENDS.
  • Fossil fuels usage must end by 2040 to restrict warming to 1.5C

    In a note to the UN Secretary-General Antonio Guterres and UN Climate Change body, shared with AFP, climate scientists from the Potsdam Institute for Climate Impact Research (PIK) and Exeter University said there was very little room for anything but a total phase-out of fossil fuels.
  • COP28 president Sultan Jaber pushes for rapid fossil fuels draft deal

    Climate campaigners have viewed Jaber with deep suspicion due to his position as the head of UAE national oil firm ADNOC, but he has sought to assure sceptics by stating that a phase down of fossil fuels was "inevitable".
  • Renewable energy, sustainability drive GCC growth

    The GCC's transformation towards sustainability encompasses economic growth, job creation, and resource management, shaping a resilient and green future for the region.
  • US pledges climate aid for cities, more private sector finance

    Samantha Power, administrator of the US Agency for International Development, is visiting the COP28 summit where nations are wrangling over whether to promise a phasedown of fossil fuels. Power, the latest senior US official to join lead negotiator John Kerry, is focusing efforts on helping developing countries adapt to the...
  • UAE banks align with global sustainability standards

    “The pledge made by our UBF Chairman, Abdulaziz Al Ghurair, to mobilize over AED 1 trillion in sustainable finance, represents the collective efforts of our leading national member banks and is a true testament to our financial sector’s commitment to supporting the building of a better future," he adds.
  • UAE launches Industrial Decarbonization Roadmap at COP28

    Dubai, UAE - The UAE announced the launch of the Industrial Decarbonization Roadmap at COP28 on Tuesday with the aim of reducing industrial carbon emissions by 2.9 gigatonnes cumulatively until 2050. Focusing on manufacturing and hard-to-abate sectors, including cement, iron, steel and aluminium, the strategic initiative reflects the country’s commitment...
  • Mashreq commits $30bn to UAE banking sector’s sustainable finance by 2030 pledge

    DUBAI, UAE -Mashreq bank has been announced as one of the top contributors to the UAE Banks Federation’s (UBF) pledge, to mobilize US$272 billion (AED 1 trillion) in sustainable finance by 2030 at COP 28. The event was hosted by the Central bank of the UAE in Global Climate Action...
  • COP28 draft agreement includes option to do nothing on fossil fuels

    The fate of oil, gas and coal is the thorniest issue being thrashed out at the COP28 UN climate talks in Dubai and divisions around their future have dominated the conference. The second version of the negotiating text puts three options on the table, setting the stage for a grueling...
  • Masdar City to construct region’s first net-zero energy mosque

    Abu Dhabi, UAE - Masdar City, an Abu Dhabi, UAE-based sustainability and innovation hub dedicated to making all cities a solution to climate change, has announced the region’s first net-zero energy mosque. Masdar City hopes to set a new industry standard for houses of worship in the region through an...
  • We respect climate science, says COP28 head

    DUBAI, UAE - The Emirati president of the UN's COP28 talks said on Monday he respects climate science, after a leaked video showed him declaring that no science says phasing out fossil fuel will achieve climate goals. Sultan Al Jaber also repeated his past statements that a phase out of fossil...
  • Saudi energy minister calls Western climate pledges ‘small change’

    "Unlike the small change offered for loss and damage from our partners in developed countries, the Kingdom through its South-South cooperation announced in the Saudi Africa Summit in Riyadh last month the allocation of up to $50 billion," Prince Abdulaziz said in a video message to the Saudi Green Initiative...
  • $272 billion sustainable finance pledge by UAE financial sector at COP28

    Abu Dhabi, UAE -- The financial sector of the United Arab Emirates commits to mobilizing more than AED 1 trillion ($272 billion) in sustainable finance by 2030, the UAE Banks Federation announced at an event on Monday. Coinciding with the UAE’s hosting of COP28, the Central Bank of the United...
  • Saudi Arabia, Turkiye strengthen collaboration in agriculture, water management

    RIYADH, SAUDI ARABIA – The Kingdom's Minister of Environment, Water and Agriculture Eng. Abdurrahman bin Abdul Mohsen Al-Fadhli signed a memorandum of understanding (MoU) with the Turkish Minister of Agriculture and Forestry İbrahim Yumaklı. The MoU aims to strengthen cooperation and enhance production capabilities in the domains of agriculture, livestock...
  • Tunisia aims to reach 30% renewable energy by 2030: Delegate to COP28

    Dubai, UAE - Tunisia has set a goal to reduce greenhouse gas emissions by 45 percent by 2030, and is one of the first countries to announce its intention to achieve carbon neutrality by 2050, Mohamed Zmerli, Official Representative of Tunisia in the United Nations Framework Convention on Climate Change...
  • MENA region can create 10m jobs by 2050 via climate action, says ILO

    DUBAI, UAE - International Labor Organization (ILO) Deputy Regional Director for the Arab States Peter Rademaker has confirmed that the Middle East and North Africa (MENA) region could create 10 million new jobs and accelerate GDP to 7.2 percent by 2050 via taking a serious approach to climate action. In...
  • Maghreb farmers fight climate change with drones

    The use of modern technologies in agriculture is globally on the rise, including in North Africa where countries rank among the world's 33 most water-stressed
  • Morocco gardening school cultivates hope for marginalised youth

    Launched by the Islamic Culture Foundation in 2018, Bouregreg Med-O-Med school provides free training to dropouts and other marginalized youths threatened with unemployment. Every year, the school takes in up to 90 apprentices, "young people who come from complicated family situations... and from really precarious and difficult surrounding neighborhoods, said...
  • COP28 ignites key climate change talks in Arab world

    "The event focuses on transitioning the energy sector, demonstrating how strategic investments can foster prosperity without solely relying on fossil fuels," he adds, pointing out the importance of the US$30 billion climate-focused investment fund recently announced by the UAE, supporting international climate action efforts in service of humanity.
  • US pledges $3bn to a global climate fund at COP28 meet

    Developing countries least responsible for climate change are seeking support from richer polluting nations to adapt to the increasingly ferocious and expensive consequences of extreme weather, and for their transitions to cleaner energy sources. The failure of wealthy nations to fulfill financial pledges to help developing nations cope with climate...
  • $656 million committed to Loss & Damage Fund so far

    The fund will be housed in the World Bank for four years, a decision accepted by developing nations despite concerns about the institution's Western-dominated structure.
  • UAE President attends Group of 77 and China meeting at COP28

    DUBAI, UAE – At the UN Climate Change Conference (COP28) here, UAE President Sheikh Mohamed bin Zayed Al Nahyan attended part of the Group of 77 and China meeting. The President extended a warm welcome to the leaders present, underscoring the significance of collaboration among developing nations to enhance common...
  • Over 20 nations call for tripling of nuclear energy

    The other countries that signed up to the declaration include Britain, Bulgaria, Canada, the Czech Republic, Finland,  France, Hungary, South Korea,  Moldova, Mongolia, Morocco, the Netherlands, Poland, Romania,  Slovakia, Slovenia, Sweden,  Ukraine and the United Arab Emirates.
  • Dubai COP28: Record attendance marks largest ever UN climate summit

    Among the host country's guests are Bill Gates and Antoine Arnault, the son of LVMH boss Bernard Arnault, the second richest man in the world after Elon Musk, according to Forbes magazine.
  • UAE President announces $30bn Global Climate Fund at COP28 meet

    In a groundbreaking announcement at the World Climate Action Summit during the UN Climate Change Conference (COP28), UAE President Sheikh Mohamed bin Zayed Al Nahyan unveiled a $30 billion fund dedicated to global climate solutions. He said UAE has plans to invest $130 billion over the next seven years to...
  • COP28’s Green Zone: A central hub for climate-related activities

    Dubai, UAE - The Green Zone at the COP28, overseen and managed by the conference presidency team, serves as a central hub for climate-related activities, enriching the experience for visitors to the world's premier climate event hosted by the UAE. It facilitates constructive dialogues on climate action, welcoming participants from...
  • Climate and Gaza crises share spotlight as world leaders attend COP28

    The spotlight now turns to more than 140 kings, presidents and prime ministers who will address delegates at the sprawling Expo City Dubai complex on Friday and Saturday. Britain's King Charles III will kick off those addresses, followed by leaders from nations including the likes of Brazil, Kenya, Tonga and...
  • UAE a pioneer in renewable energy: Palau President

    “COP28 is attracting significant interest from various participating countries and will serve as an important forum for climate enthusiasts. This reflects the commitment of people who are eager to enact change and preserve the planet by taking serious steps towards a better future,” President Whipps adds.
  • Indian spiritual leader Sadhguru to kick off COP28 faith pavilion

    Dubai, UAE – Indian spiritual leader Sadhguru will address the first-ever Faith Pavilion at COP28 on Friday December 1, kicking off a programme of over 70 sessions on interfaith cooperation on climate action. Head of the Isha Foundation and founder of the Save Soil movement will present his vision on...
  • COP28: Halting global warming, financial aid for vulnerable nations on agenda

    Dubai, UAE - The world is turning its attention to Dubai where COP28 gathers some of the world’s top leaders from November 30 to December 12, to unite over a vision for the global fight against climate change. Climate change is an indiscriminate killer that has not spared a country...
  • UAE to pump CO2 into rock as carbon capture debate rages

    Fujairah, UAE - High in remote mountains in the oil-rich Emirates, a new plant will soon take atmospheric CO2 and pump it into rock -- part of controversial attempts to target planet-heating emissions without abandoning fossil fuels. Using novel technology developed by Omani start-up 44.01, the solar-powered plant will suck carbon...
  • FAB becomes first MENA bank to publish TCFD climate report

    Abu Dhabi, UAE -- First Abu Dhabi Bank (FAB) became the first MENA bank to publish a Task Force for Climate-Related Financial Disclosures (TCFD) aligned climate report. The TCFD standard, promoted by the Financial Stability Board since 2015, urges entities to specify the resilience of their strategies to climate-related risks...
  • Water stress levels vary in Arab countries

    Some countries face more intense competition for water resources, leading to potentially severe environmental impacts. The contrast underscores the diverse challenges they face in water resource management.
  • Climate crises drove 27 million children into hunger in 2022, says charity

    Out of the 12, countries in the Horn of Africa were most affected, with Ethiopia and Somalia accounting for about half of the 27 million children facing hunger, Save said.
  • Climate change already reducing global GDP: report

    Low- and middle-income countries have experienced a combined loss in capital and GDP totaling $21 trillion, about half of the total 2023 GDP of the developing world, in the last 30 years, the report said. The authors specify that losses are "conservative estimates" because the analysis does not account for...
  • 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 its building designs and urban planning to create cooler living environments, even outdoors, Almheiri said.
  • Climate change is the single biggest health threat facing humanity, says WHO

    PARIS, FRANCE -  Growing calls for the world to come to grips with the many ways that global warming affects human health have prompted the first day dedicated to the issue at crunch UN climate talks starting next week. Extreme heat, air pollution and the increasing spread of deadly infectious diseases...
  • 56% Saudi consumers willing to pay premium for green transportation

    Riyadh, Saudi Arabia -- An overwhelming 80 percent of consumers across 16 diverse nations now identify climate change as the foremost global challenge, according to a study conducted by GSMA Intelligence in collaboration with Huawei. The participating countries, including Saudi Arabia, Turkey, Egypt, South Africa, Argentina, Brazil, France, Germany, Indonesia,...
  • Brazil, UAE forge ahead with stronger bilateral ties

    “We would like the UAE to be a partner in our current process of investing in infrastructure. It is a marriage that pleases both parties. They are interested in investing in long-term projects, lasting twenty or 30 years, such as ports, highways, airports, and the food security sector. And we...
  • 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 the negotiations, saying private sector engagement was essential to curb global heating. "Everyone needs to be part of this process and everyone needs to be held responsible and everyone needs...
  • Saudi, Turkey, Egypt among 16 nations viewing climate change as top concern

    Riyadh, Saudi Arabia: Around 80% of consumers surveyed across 16 countries now view climate change as the world’s No. 1 challenge, a recent research conducted by GSMA Intelligence with support from Huawei, revealed. The countries include Saudi Arabia, Turkey, Egypt, South Africa, Argentina, Brazil, France, Germany, Indonesia, Italy, Japan, Pakistan,...
  • 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 the area warming at twice the global average rate. This could lead to a temperature rise of 4 degrees Celsius by 2050, impacting daily life and the economy. While GCC...
  • Iraqis haunted by war battle mental health issues

    Ravaged by war and rocked by Islamic State group attacks, Iraq's demand for mental health professionals is great, but help is hard to come by. Baghdad's Al-Rashad psychiatric hospital receives patients suffering from serious psychological illnesses, such as schizophrenia, and offers outpatient treatment for depression, anxiety and post-traumatic stress disorder.
  • Norwegian firm expects first cross-border transport of CO2 in 2025

    Oslo, Norway -- Norwegian fertilizer group Yara International on Monday signed a contract to begin transporting CO2 produced at its Netherlands plant to Norway so it can be buried under the seabed, as of 2025. The agreement with Northern Lights, a joint venture grouping oil giants Equinor of Norway, Anglo-Dutch Shell...
  • World’s richest 1% emit as much carbon as bottom two-thirds: report

    Among the key findings of this study are that the richest one percent globally -- 77 million people -- were responsible for 16 percent of global emissions related to their consumption. That is the same share as the bottom 66 percent of the global population by income, or 5.11 billion...
  • GCC leads in climate action despite fossil fuel reliance

    The UAE, Saudi Arabia, and Qatar outperform 17 other countries in key areas of green investment, sustainable infrastructure, and energy transition, says a report.
  • UN says greenhouse gas emission reach all time high in 2022

    The UN's World Meteorological Organization said levels of the three main greenhouse gases -- the climate-warming carbon dioxide, methane and nitrous oxide -- all broke records last year.