INSEAD Day 4 - 728x90

global warming

AD Ports Group acquires CLI

CLI is Brazilian agri-bulk terminal operator.

$1.59bn Makkah project awarded

A consortium will develop two districts in the Holy City.

2PointZero posts profit surge

Growth driven by merger consolidation.

Mashreq Q1 profit rises

Total revenue increased 10% year-on-year.

TECOM profit climbs

High occupancy across assets boosts earnings.
  • Geothermal, desalination: Top 10 solutions for planetary health

    Dubai, UAE--Ten transformative technology solutions could change the way the world powers homes, grows food and secures freshwater, according to a new World Economic Forum report released today. Many of these critical technologies already exist but remain underused. Unlocking their potential as practical, scalable solutions to pressing climate challenges will...
  • UN says 70% chance that 2025-2029 average global warming will exceed 1.5C threshold

    The planet is therefore expected to remain at historic levels of warming after the two hottest years ever recorded in 2023 and 2024, according to an annual climate report published by the World Meteorological Organization, the UN's weather and climate agency.
  • Coal use at record high in 2024, the world’s hottest year: IEA

    Paris, France -- World coal use is set to reach an all-time high in 2024, the International Energy Agency said Wednesday, in a year all but certain to be the hottest in recorded history. Despite calls to halt humanity's burning of the filthiest fossil fuel driving climate change, the energy watchdog...
  • Wealthy nations offer $250bn on climate but pressed for more

    At the COP29 talks in Azerbaijan, developing nations are demanding a bigger commitment from historic polluters most responsible for warming, but rich countries insist that massive financial pledges are not politically realistic. In a draft text revealed hours before two weeks of fraught bargaining were set to end, Azerbaijan said...
  • UN climate chief at deadlocked COP29: ‘Cut the theatrics’

    As the UN climate talks limp into a second week in Azerbaijan, the world is no closer to a finance deal for poorer countries that will determine the success or failure of COP29. UN climate boss Simon Stiell said that "bluffing, brinkmanship and premeditated playbooks burn up precious time and...
  • Summer 2023 was the hottest in 2,000 years: study

    Paris, France -- Last year's northern hemisphere summer was the hottest in 2,000 years, according to a new study published on Tuesday. Scientists say 2023 was the hottest year globally since records began in 1850, but the study in the journal Nature indicates human-caused climate change pushed northern summer highs well...
  • Climate impacts set to cut 2050 global GDP by nearly a fifth

    But slashing greenhouse gas emissions as quickly as possible remains crucial to avoid even more devastating economic impacts after mid-century, researchers reported in the journal Nature. The study projects that -- absent climate impacts after 2020 -- global GDP would double by 2050 from $100 trillion in 2022.
  • Planet ‘on the brink’, with new heat records likely in 2024: UN

    The annual State of the Climate report by the UN weather and climate agency confirmed preliminary data showing 2023 was by far the hottest year ever recorded. And last year capped off "the warmest 10-year period on record", the World Meteorological Organization said, with even hotter temperatures expected.
  • Methane emissions under spotlight at global forum in Geneva

    Methane emissions from the fossil fuel industry have risen for three consecutive years, according to the International Energy Agency (IEA), hitting near record highs in 2023.
  • Middle East leads way in global methane mitigation

    The Middle East is emerging as an important region in the battle against methane emissions, crucial for curbing global warming. say a latest IEA report.
  • UN chief slams ‘distressing’ spending on arms over climate

    Without action, "the situation will deteriorate," he warned. "Conflicts are multiplying. The climate crisis is set to spiral, as emissions continue to rise. And acute food insecurity has been increasing year on year."
  • COP hosts UAE, Azerbaijan, Brazil announce climate ‘troika’

    The UAE hosted last year's COP28 conference in Dubai, while Azerbaijan will host this year's summit followed by Brazil in 2025. The three countries were mandated by 198 signatories to the Dubai agreement to work together on a roadmap to limit global warming to 1.5 degrees Celsius, a key climate...
  • EU seeks 90 percent drop in greenhouse emission by 2040

    Strasbourg, France - The EU on Tuesday urged a 90-percent cut to its greenhouse gas emissions by 2040, even as the bloc's transition to a greener future was clouded by a widespread farmers' revolt. "Based on the best available science, and a detailed impact assessment, we are recommending that the 2040 target...
  • Paris Olympics’ organizers worry heatwave can spell trouble for games

    A new study presenting "climate simulations to anticipate worst-case heatwaves during the Paris 2024 Olympics" has focused minds after it warned that the French capital faced a not insignificant risk of record-breaking high temperatures. The research, published in December in the Npj Climate and Atmospheric Science journal, looked at the risk...
  • 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 economic stability and financial health.
  • 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 efficient, equitable climate funding.
  • Coal use to decline next year after record high in 2023: IEA

    The latest forecast came after nearly 200 countries at the COP28 UN climate talks adopted a deal stating that the world will be "transitioning away from fossil fuels" to achieve net-zero emissions by 2050 and limit global warming. Coal is the largest energy-related source of the CO2 emissions responsible along...
  • Clean energy sees marked investment rise since 2020

    With a 40% increase in clean energy investments since 2020 and a focus on innovative policies, the global community is making strides towards a greener future, says an expert.
  • World unites at COP28 to shift away from fossil fuels

    Nearly 200 nations in Dubai have collectively endorsed an agreement to move away from fossil fuels, marking a significant step in addressing climate change.
  • 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.
  • $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.
  • 134 nations to put food, agriculture in national climate plans

    "This declaration is the moment when food truly comes of age in the climate process, sending a powerful signal to the nations of the world that we can only keep the 1.5 degree goal in sight if we act fast," said the group's CEO Ani Dasgupta.
  • Act now as climate crisis has reached critical point

    "Renewable energy is key to our planet's future. It's time to phase out fossil fuels and embrace sustainable solutions. The fate of humanity depends on the decisions made at this COP. I urge you to take the lead. The fate of humanity hangs in the balance. Make this COP count,"...
  • Act now as climate crisis has reached critical point

    "Renewable energy is key to our planet's future. It's time to phase out fossil fuels and embrace sustainable solutions. The fate of humanity depends on the decisions made at this COP. I urge you to take the lead. The fate of humanity hangs in the balance. Make this COP count,"...
  • 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...
  • 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,...
  • 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...
  • 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...
  • COP28 priorities: From climate action progress to energy transition

    Dubai, UAE -- As world leaders and climate experts gear up for the COP28 climate summit scheduled to take place in the United Arab Emirates (UAE), the latest data on global climate conditions issues a compelling and urgent call to action, an expert has said. The National Oceanic and Atmospheric...
  • COP28 summit targets 68% cooling emissions cut by 2050

    "Without policy intervention, direct and indirect emissions from air conditioning and refrigeration are projected to rise 90 percent above 2017 levels by the year 2050," a UN report warned in 2020.
  • Eastern authorities want Libya aid conference in flood-hit Derna

    Benghazi, Libya - Libya's flood-devastated port city of Derna will host an international conference next month to aid reconstruction efforts, authorities in the east of the divided country said. There was no immediate reaction from the internationally recognized government in Tripoli nor any details on how the rival administration would accommodate...
  • King Charles urges joint French-English effort on climate change

    "Just as we stand together against military aggression, so must we strive together to protect the world from our most existential challenge of all -- that of global warming, climate change and the catastrophic destruction of nature," said the king, known for campaigning on environmental issues for the past decades.
  • World falling dangerously short of climate goals: UN report

    Paris, France - A world facing catastrophic climate change is perilously off course in meeting goals for slashing carbon pollution and boosting finance for the developing world, according to the UN's first official progress report out Friday. The 2015 Paris treaty has successfully driven climate action, but "much more is needed...
  • Istanbul dams run low after scorching, dry summer

    The bank of screens in Ismail Aydin's Istanbul water management system control room flashes a worrying number: 29.7 percent. That is the capacity level to which Istanbul's water reservoirs have dropped after another steamy summer put Turkey's largest city on the edge of a potential catastrophe.
  • Global warming induced stress could threaten health of 1 billion cows

    Nearly eight out of 10 cows across the planet are already experiencing excessively high body temperatures, spiked respiration rates, bowed heads and open-mouthed panting -- all symptoms associated with severe heat stress, the study said. In tropical climates, 20 percent of cattle endure those symptoms year-round.
  • Bahrain to build walls against rising sea

    But by 2050, sea levels could rise by at least 0.5 metre, according to the minister, citing the United Nations' Intergovernmental Panel on Climate Change. Some experts view the estimate as conservative. Rising seas aggravate flooding, threaten coastlines and could pollute Bahrain's already scarce groundwater reserves with salty seawater.
  • Iraq’s extreme temperatures a ‘wake-up call’ for world: UN

    It has been experiencing its fourth consecutive summer of drought, and temperatures in the country have been around 50 degrees Celsius. "Rising temperatures plus the drought, and the fact that the loss of diversity is a reality, is a wake-up call for Iraq and for the world," UN human rights...
  • Kuwait’s scorching summers a warning for heating planet

    Kuwait City, Kuwait -- As the blazing summer sun beats down on Kuwait, shoppers stroll down a promenade lined with palm trees and European-style boutiques, all without breaking a sweat. In one of the world's hottest desert countries, it's all made possible by architecture and technology: the entire street is located...
  • Will climate change hit Mediterranean tourism?

    In Spain, the thermometer has shot 15 degrees above normal summer season levels. Italy has also laboured under heatwaves with the island of Sardinia melting under 48 Celsius while, on Monday, Tunis endured 49C. Tourism plays a key role in the region's economies -- the sector accounts for nearly a...
  • July likely to be warmest month on record: NASA scientist

    This month has already seen daily records shattered according to tools run by the European Union and the University of Maine, which combine ground and satellite data into models to generate preliminary estimates. Though they differ slightly from one another, the trend of extreme heat is unmistakable and will likely...
  • UAE, India pledge for success of Dubai’s COP28 event

    The UAE and India vowed to make this year's COP28 conference in Dubai a success, as Indian Prime Minister Narendra Modi paid a visit to the Gulf state. The oil-rich UAE will host the COP28 UN climate talks in November and December, as nations are still far on means to...
  • COP host UAE vows to cut more emissions in latest plan

    The oil-rich Gulf monarchy, which will host this year's COP28 UN climate talks, last week unveiled plans to cut domestic emissions by 19 percent of 2019 levels by 2030. Under these plans, the UAE would contribute to keeping warming to "just below" 2.0 degrees Celsius above pre-industrial levels, the UAE's...
  • World saw hottest June on record, Tuesday hottest day ever

    Petteri Taalas, secretary-general of the UN's World Meteorological Organization, warned on Monday that El Nino "will greatly increase the likelihood of breaking temperature records and triggering more extreme heat in many parts of the world and in the ocean."
  • Europe world’s fastest warming continent, says EU climate report

    The report by the World Meteorological Organization and the European Union's Copernicus Climate Change Service said the continent was some 2.3 degrees Celsius hotter last year than in pre-industrial times. Crop-withering drought, record sea-surface temperatures and unprecedented glacier melt are among the consequences laid out in the report.
  • Investment in solar to eclipse oil for the first time

    "Almost all our indicators on climate are pointing in the wrong direction”, with emissions hitting record highs; finance commitments remaining unmet; and the World Meteorological Organization's warning that the next five years are likely be the hottest on record," she adds on the sidelines of the Climate Ambition Summit.
  • The phase down of fossil fuels is inevitable: Emirati COP28 chief

    Al-Jaber, who runs the Abu Dhabi National Oil Company (Adnoc), defended a COP28 roadmap that includes a "global goal to triple renewable energy, double energy efficiency, and double clean hydrogen, all by 2030." His comments came as numerous participants and observers in the UN climate negotiations have called on al-Jaber...
  • Gulf oil giants turn to start-ups in bid to promote carbon capture

    With little investment and few projects in operation around the world so far, the technology to capture carbon before it goes into the atmosphere as a potential global warming solution is currently nowhere near the scale needed to make a difference to global emissions.
  • World should prepare for El Nino, new record temperatures: UN

    Since 2020 though, the world has been hit with an exceptionally long La Nina -- El Nino's cooling opposite -- which ended earlier this year, ceding way to the current neutral conditions. And yet, the UN has said the last eight years were the warmest ever recorded, despite La Nina's...
  • BP faces angry shareholders over climate plans

    BP in February announced that it expected to boost its profits between now and 2030 by investing more in both renewable energy and hydrocarbons, slowing the pace of its transition. Environmental group Greenpeace, which only last year was calling BP "the most ambitious" of the global majors, criticised the plans,...
  • DEWA, RTA ink deal to sponsor Green Economy Summit

    Dubai, UAE - Dubai Electricity and Water Authority (DEWA) has signed a sponsorship agreement with the Roads and Transport Authority in Dubai (RTA), allowing RTA to be the Platinum Sponsor of the World Green Economy Summit (WGES) for three sessions from 2023 to 2025. The Summit is organized by the...