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UAE fossil fuels, fossil fuel phase down, fossil fuel phase out

UAE softens on fossil fuel wording, observers say

The UAE, one of the world’s largest oil producers, is considering supporting an unprecedented agreement towards ‘phasing out’ fossil fuels, observers have told AGBI. Some suggest the parties may agree to a phase-out in easier-to-abate sectors such as power generation, where reducing greenhouse gas emissions can be achieved with existing renewable technologies like solar or […]

Oman geologic hydrogen Eden

Oman could become world leader in geologic hydrogen

Green hydrogen has made global headlines as a potential carbon-free alternative to fossil fuels, but some experts believe another, abundant source of the gas could be under our feet. It is known as geologic hydrogen. Geologic hydrogen occurs naturally in the earth’s crust and is produced when water reacts with iron-rich rocks in the subsurface. […]

Contractors cite the $4.9bn expansion of the Dubai Metro as one reason for confidence

Contractors upbeat despite Dubai real estate warning

The mood was decidedly upbeat at the Big 5 construction conference in Dubai this week, despite recent warnings that the emirate’s real estate sector will slacken next year. Dubai residential property prices rose nearly 17 percent year-on-year in the first half of 2023, the fastest pace in nearly a decade. But a senior S&P Global […]

Trending

  1. Gold to glisten despite world’s economic concerns

  2. Moody’s upgrades Oman credit ratings on lower debt burden

  3. Binance pulls out of licence application in Abu Dhabi

  4. Qatari owners of PSG sell minority stake in French club

  5. Mubadala to shift investment focus to Asia says CEO

Cop28

Technology from Independent Growth Solutions will be used at the Dubai 'gigafarm'

Agriculture investment fund doubles since Cop27 to $17bn

Investment in a UAE and US-led global agriculture and food initiative has reached $17 billion, as the Cop 28 conference saw a slew of developments in the sector. The Agriculture Innovation Mission for Climate (Aim for Climate) aims to address climate change and global hunger through increased investment in “climate-smart agriculture and food systems innovation” […]

European Commission's Wopke Hoekstra speaks at the European Union press conference, during the United Nations Climate Change Conference (COP28), in Dubai, United Arab Emirates, December 6, 2023. REUTERS/Amr Alfiky

Europe stands firm on fossil fuel phase-out deal at Cop28

The European Parliament is heading into the final days of negotiation at the Cop28 climate summit in Dubai with a clear mission to see the absolute end of fossil fuels. At a press conference on Friday, European Parliament member Peter Liese told journalists that the delegation is demanding the “tangible phase out of fossil fuels” […]

People, Person, Clothing

UAE’s Masdar to develop green hydrogen in Spain

Abu Dhabi Future Energy Company (Masdar) is exploring developing a green hydrogen plant in central Spain to aid in the decarbonisation of Europe’s hard-to-abate sectors. The Abu Dhabi-based renewables energy company is collaborating with Verbund Green Hydrogen on the proposed venture – in an agreement which was signed at the UN’s Climate Change Conference Cop28 […]

Sheikh Mohammed inaugurates the fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park

Dubai opens world’s largest concentrated solar power project

UAE Vice President and Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum has inaugurated the world’s largest concentrated solar power (CSP) project as the Gulf state accelerates towards becoming net zero by 2050. The project is part of the AED15.78 billion ($4.30 billion) fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park in […]

What is Cop28 UAE? The UN climate change summit begins in Dubai on Thursday Video length: 03:41

Cop28: Everything you need to know 

What is a Cop?  The Conference of the Parties is the decision-making body of the UN Framework Convention on Climate Change. The annual Cop summits bring together the 198 parties – 197 nations plus the European Union – that signed the UN convention to combat “dangerous human interference with the climate system”. The first Cop […]

AGBI Gulf net zero

Download our exclusive report on the Gulf’s path to net zero

As the world shifts towards cleaner sources of energy, the GCC’s oil and gas-producing nations find themselves faced with the dual threat of environmental and economic crisis. What are they doing about it?  In this special report published as the UAE prepares to stage the United Nations’ Cop28 climate change summit, AGBI examines the Gulf’s […]

Electronics, Phone, Mobile Phone

COP28 NEWSLETTER

Get the latest news and analysis from Cop28 every day in your inbox

OPINION & Analysis

BIG 5 CONSTRUCTION SPECIAL

Contractors cite the $4.9bn expansion of the Dubai Metro as one reason for confidence

Contractors upbeat despite Dubai real estate warning

The mood was decidedly upbeat at the Big 5 construction conference in Dubai this week, despite recent warnings that the emirate’s real estate sector will slacken next year. Dubai residential property prices rose nearly 17 percent year-on-year in the first half of 2023, the fastest pace in nearly a decade. But a senior S&P Global […]

Construction project delays in the Middle East average more than 22 months

Project overruns remain but payment issues improving

Delays in construction project timelines and payments remain a concern in the Gulf. However, things seem to be on the up on the payment side at least, multiple industry professionals said during the Big 5 Global conference in Dubai this week. The larger Middle East region suffers from some of the worst project overruns in […]

A worker looks out at Riyadh from a tower under construction in the city

Big 5 builders seek answers to Saudi’s $1.5trn question

Saudi Arabia’s mammoth pipeline of giga-projects was the focus of the Big 5 Global conference in Dubai this week, as the region’s main construction players discussed how to juggle fast-approaching 2030 deadlines with the kingdom’s push for sustainable development. Saudi Arabia has signed off on $78 billion of construction projects so far this year, up […]

The Arroyo, in Santa Monica, California, is certified 'platinum' by Leed

US Green Building Council to launch new ratings system

The US Green Building Council is launching a new ratings system to measure structures against tough sustainability targets. It is the first time in 10 years that the organisation has updated its policy, with the industry largely relying on the Leadership in Energy and Environmental Design (Leed) green building system. According to the US Green […]

low carbon building code

Concrete institute launching low carbon building code

The American Concrete Institute is unveiling what it claims is the first-ever low carbon building code at the Cop28 climate conference. Building codes are a set of rules that standardise the construction process. They have historically focused on safety and serviceability, but must now address sustainability needs, Antonio Nanni, a professor at the University of […]

Best of AGBI

Mohammed Al Kuwaiti, head of cybersecurity for the UAE government. Lack of resources and too many manual processes are just a few of the IT safety issues facing companies

UAE cybersecurity is failing, say IT executives

Inadequate technology is one of the primary causes of data breaches suffered by UAE companies, despite huge investments made by IT departments in the Gulf state to combat cyberattacks, say experts. Companies in the Mena region spent $2.8 billion on cybersecurity last year, according to US technology research and consulting firm Gartner.  Yet a report […]

Real estate trusts struggle despite strong Dubai market

Dubai’s resurgent property market has delivered riches to property owners and shareholders of leading developers like Emaar Properties, but investors in two listed Dubai real estate investment trusts – Emirates REIT and ENBD REIT – are nursing sustained losses. Both trusts are listed on Nasdaq Dubai. The emirate’s international bourse launched in 2005 with the […]

Late-year flurry could boost the sukuk market

Sukuk issuance fell in the first nine months of 2023 – but this year’s total could yet equal that of 2022, Fitch Ratings’ Islamic finance chief told AGBI.  Gulf governments and corporations are issuing sharia-compliant bonds to diversify their funding and ease their reliance on bank borrowing. Sukuk were developed as an alternative to conventional […]

UAE sets up bankruptcy court to rule on disputes

The UAE is overhauling its bankruptcy and restructuring law, introducing a specialist court to oversee disputes. The legislation – formally Federal Law Decree No 51 of 2023 – comes into force on May 1, 2024, and replaces the 2016 bankruptcy framework. It will emphasise the importance of amicable resolutions, broadening the scope for debtors to […]

Coffee fuels growth plans for UAE-Colombia trade

The UAE finalised the terms of a trade deal with Colombia on Saturday as a Dubai free zone is also targeting growth with the commodities-rich nation. The comprehensive economic partnership agreement (Cepa) is the first bilateral trade deal between the Gulf and South America. Dubai Multi-Commodities Centre (DMCC) brought its Made for Trade Live roadshow […]

UAE latest

Technology from Independent Growth Solutions will be used at the Dubai 'gigafarm'

Agriculture investment fund doubles since Cop27 to $17bn

Investment in a UAE and US-led global agriculture and food initiative has reached $17 billion, as the Cop 28 conference saw a slew of developments in the sector. The Agriculture Innovation Mission for Climate (Aim for Climate) aims to address climate change and global hunger through increased investment in “climate-smart agriculture and food systems innovation” […]

A woman checks her jewellery in Mumbai. The UAE’s top gold export market is India

Gold to glisten despite world’s economic concerns

Central bank demand helped lift gold prices to all-time highs this month and further accumulation should support the precious metal next year despite a likely slowdown in the global economy, a top industry official has told AGBI. Gold’s performance is important to the United Arab Emirates. The country is a major processor and the world’s […]

UAE fossil fuels, fossil fuel phase down, fossil fuel phase out

UAE softens on fossil fuel wording, observers say

The UAE, one of the world’s largest oil producers, is considering supporting an unprecedented agreement towards ‘phasing out’ fossil fuels, observers have told AGBI. Some suggest the parties may agree to a phase-out in easier-to-abate sectors such as power generation, where reducing greenhouse gas emissions can be achieved with existing renewable technologies like solar or […]

binance abu dhabi

Binance pulls out of licence application in Abu Dhabi

Global cryptocurrency exchange Binance has withdrawn its licence application from Abu Dhabi Global Market, the main regulator in the UAE capital, but still wants to join an international exchange in Dubai. The troubled crypto operator withdrew its application on November 7, according to the regulator’s website. “While assessing our global licensing needs, we decided this […]

Saudi Arabia latest

Chittagong Port will be developed and operated by Saudi company RSGTI

Saudi port operator to develop Bangladesh terminal

Saudi company Red Sea Gateway Terminal International Limited (RSGTI) has signed a 22-year concession to develop a container terminal at Bangladesh’s primary port in a deal worth $170 million. RSGTI, a subsidiary of the Sustained Infrastructure Holding Company (Sisco), signed the deal with the Chittagong Port Authority to develop Patenga Container Terminal. In a filing […]

Mohammed Al Jadaan, Saudi minister of finance. The kingdom has appointed an executive specifically to lead its virtual assets and digital currency programme

Saudi 2024 budget forecasts $21bn deficit but GDP set to rise

Saudi Arabia has approved its 2024 budget, which forecasts a deficit of SAR79 billion ($21.1 billion), accounting for 1.9 percent of the country’s gross domestic product (GDP). The estimated total revenues are SAR1.17 trillion, while total expenditure is forecast to be SAR1.25 trillion, the finance ministry said in a statement. The kingdom projected a budget deficit […]

Executives of Acwa Power, PT Perusahaan Listrik Negara and PT Pupuk Indonesia at a signing ceremony held on the sidelines of Cop28 in Dubai

Acwa Power to develop $1bn green hydrogen project in Indonesia

Saudi-listed Acwa Power will develop a $1 billion green hydrogen facility – the largest in Indonesia – that will start commercial production in 2026. The project will be codeveloped with PT Perusahaan Listrik Negara (PLN), Indonesia’s state-owned electricity provider and PT Pupuk Indonesia, a state-owned fertiliser and chemical producer.  The agreement was signed on the […]

A worker looks out at Riyadh from a tower under construction in the city

Big 5 builders seek answers to Saudi’s $1.5trn question

Saudi Arabia’s mammoth pipeline of giga-projects was the focus of the Big 5 Global conference in Dubai this week, as the region’s main construction players discussed how to juggle fast-approaching 2030 deadlines with the kingdom’s push for sustainable development. Saudi Arabia has signed off on $78 billion of construction projects so far this year, up […]

Around the Middle East

Qatar to sell $644m worth of shares in Barclays

Qatar Holding is looking to sell around £510 million ($643.72 million) of shares in Barclays, one of the banks acting on the deal said on Monday, cutting back on its crisis-era investment in the British bank. The deal is set to price at 141 pence per share, or a discount of about 1.4 percent to […]

Oman has signed an agreement with Port of Amsterdam, Zenith Energy Terminals and GasLog to develop a green-hydrogen corridor between Oman and the Netherlands

Oman plans green-hydrogen corridor to Europe

Oman’s plans to make the world’s first commercial-scale liquid hydrogen corridor are a step closer after the sultanate signed a deal with the fourth largest port in Western Europe. Oman’s Ministry of Energy and Minerals and Hydrogen Oman, better known as Hydrom, have signed an agreement with Port of Amsterdam, Zenith Energy Terminals and GasLog. […]

Kipic said that Kuwait's Al-Zour refinery is 'one of the world's biggest projects'

Kuwait’s Al-Zour refinery increases capacity by 50%

State-owned Kuwait Integrated Petroleum Industries Company (Kipic) said that the third and final unit at the Al-Zour refinery is now operational. The plant is now fully operational and refining will reach full capacity of 615,000 barrels per day (bpd), up from 410,000 bpd, the oil company said in a statement. Kipic CEO Walid Al-Bader said […]

Consumer concern over food prices has boosted the rise of discount supermarkets in the UAE

Food inflation leads to rise of Gulf discount operators

Rising food costs in the Gulf over the last two years have spurred an increase in the number of discount operators entering the market.  The food and beverage category of the UAE’s consumer price index rose from 100.3 in 2021 to 107.5 in 2022, and is forecast to rise further to 111.8 in 2023, according […]

Bahrain's Investcorp says the $750m Climate Solutions Partners platform will help companies trying to accelerate decarbonisation

Bahrain anchors Investcorp’s $750m climate fund

Bahrain’s sovereign wealth fund, Mumtalakat Holding Company (Mumtalakat), will anchor Manama-based alternative asset manager Investcorp’s $750 million climate fund. The launch comes as Cop28 kicks off in the UAE, with negotiators striking the first deal of the summit – agreeing to set up a fund to help vulnerable countries recover from damage caused by climate […]

TotalEnergies has joined Octopus and Taqa in funding the Xlinks renewables project

TotalEnergies invests $25m in Xlinks

TotalEnergies announced on Wednesday that it has invested £20 million ($25.4 million) to acquire a minority stake in Xlinks, the company overseeing the £22 billion Morocco-UK renewables project.  The French oil and gas major joins fellow investors Octopus Energy and Abu Dhabi National Energy Company (Taqa), the UAE’s largest power producer, which gave a substantial […]

Aster expects the sale of its GCC business to be completed in the fourth quarter of 2024

Aster DM to sell majority stake in Gulf business for $1bn

UAE-based hospital chain Aster DM Healthcare will sell a majority stake in its Gulf business to a regional consortium for $1 billion as part of a plan to separate the unit from its Indian operations. A consortium led by state-backed Fajr Capital will own 65 percent of the Gulf business, while Azad Moopen, the founder […]

Opec secretary general Haitham Al Ghais has responded to the IEA

Opec says IEA has ‘vilified’ oil and gas producers

Opec has hit out at the International Energy Agency, saying the IEA has “unjustly vilified” the oil and gas industry by accusing it of being behind the climate crisis. The organisation of leading oil producers responded on Monday to the IEA’s latest report about the industry’s transition to net zero. Its statement highlighted the divergence […]

Topics:

Cop28
Neom
HYDROGEN
SAUDI ARABIA VISION 2030
BLOCKCHAIN
FOOD SECURITY
OPEC

Turkey Latest

Turkish president Tayyip Erdoğan is welcomed by Qatar's Emir Sheikh Tamim Bin Hamad Al Thani in Doha

Turkey and Qatar aim to double trade to $5bn

Turkey and Qatar have set a $5 billion bilateral trade target, more than double the level reported last year, a Turkish minister has confirmed. The figure is expected to be reached once the trade and economic partnership agreement between the two countries comes into force, Turkish trade minister Ömer Bolat said on the social messaging […]

Turkey’s central bank increased the inflation forecast for 2023 to 65 percent from its previous estimate of 58 percent

Turkey’s total reserves reach record high of $140bn

The Turkish central bank’s total reserves have jumped to a record level exceeding $140 billion, five bankers’ calculations showed on Tuesday, sustaining an uptrend after it adopted more orthodox policies following May elections. The rising reserves, alongside 3,150 basis points in interest rate hikes since June, have marked a departure from years of unorthodox and […]

Masked and socially distanced pupils at a Saudi school in 2021. The OECD's Pisa tests show the impact of the pandemic on education

Saudi schools ‘doing better at maths but still lagging behind’

Saudi Arabia’s schools have improved in the past few years, but are still below the international average and a long way behind the best performers, according to the OECD. Teenagers from 81 countries were tested for the OECD Programme for International Student Assessment (Pisa), which published its 2022 report on Tuesday. The tests measured the […]

Turkish housing construction Turkey

Turkish housing crisis persists despite construction surge

Activity in the Turkish construction industry is picking up pace, fuelled by the need to rebuild after the February earthquakes — but economic woes mean the road could be long, experts tell AGBI. Even before the February earthquakes, which killed 50,000 people, injured 100,000 more, and made 3 million homeless overnight, the country of 83 […]

A worker counts Turkish lira at a currency exchange in Ankara. S&P Global Ratings this month upgraded Turkey to 'stable' from 'negative'

Turkish inflation hits highest in 2023 as housing costs soar

Turkey’s annual inflation rate surged to 61.98 percent in November, its highest level this year, according to data released by the Turkish Statistical Institute. Consumer price inflation (CPI) rose 3.28 percent month on month, beating a Reuters poll forecast of 3.9 percent. The higher inflation was due to an 11 percent climb month on month […]

Egypt Latest

Shoppers look for bargains at a Cairo supermarket. Egypt's debt crisis. is worsening

Egypt stable for now but vulnerable, economists warn

A few days after Israeli forces launched a ground offensive in Gaza, Fitch Ratings downgraded Egypt’s credit score to B- from B. The conflict could scare off tourists and investors, the ratings agency said in November, posing a risk to Egypt’s economy. This was Fitch’s second downgrade in six months: it stripped Egypt of B+ status […]

Egyptian billionaire moves family office to Abu Dhabi

Egyptian billionaire Nassef Sawiris is moving his family office to Abu Dhabi, as global investors choose the emirate as a key hub for their operations, Bloomberg reported. Sawiris intends to re-domicile NNS Group in the Abu Dhabi Global Market (ADGM), an international financial centre, subject to regulatory approval, Bloomberg reported. Sawiris, Egypt’s wealthiest man, has […]

Egypt strikes Cop28 deals to drive green energy goals

Egypt has signed several major agreements at the Cop28 climate conference in Dubai, as part of its drive to achieve its green energy goals, a local daily reported.  Minister of international cooperation Rania Al-Mashat oversaw the signing of agreements with the Norwegian company Scatec, the African Development Bank (AfDB), and the British International Investment (BII) […]

Egypt economy election

Currency and inflation in focus ahead of Egypt polls

In the run-up to Egypt’s December 10-12 presidential election, financially strapped people queue at state-managed cooperatives trying to buy scarce rations of subsidised sugar. It is the latest sign of economic pressures that have risen sharply since early last year, leaving Egyptians grappling with soaring prices and an unresolved foreign currency crunch, and overshadowing pledges […]

Dubai Islamic Bank is among major UAE banks that have increased green financing commitments, but fossil fuel finance is more complex Video length: 06:23

How banks are navigating fossil fuel financing

Banks are navigating a complex battleground over fossil fuel phase-out: deciding whether or not to fund companies in oil and gas and other high-emitting sectors, they told a Dubai event staged in parallel with the Cop28 summit.  The chief executive of ING, the Netherlands’ biggest retail bank, said the company had stopped providing dedicated finance […]

Features

Dhayah Fort is a heritage attraction in the wadis of Ras Al Khaimah

Oman-RAK tourism tie-up could spur more alliances

Oman and Ras Al Khaimah are drawing up plans to jointly promote tourism, with ambitions to become a destination for adventure holidays. Ras Al Khaimah Tourism Development Authority (Raktda) and Oman Tourism Development Company (Omran) said the deal was a “first of its kind”. Officials described the partnership as a natural fit, with just a […]

No need to fear AI, says Indian music legend

New technologies such as artificial intelligence should be embraced, famed Indian composer A.R. Rahman said at the Red Sea International Film Festival in Jeddah this week.  “It’s not new… human beings are constantly evolving, they will rise up to something that they can do.” AI has become something of a bogeyman in people’s minds, but […]

Download our exclusive report on the Gulf’s path to net zero

As the world shifts towards cleaner sources of energy, the GCC’s oil and gas-producing nations find themselves faced with the dual threat of environmental and economic crisis. What are they doing about it?  In this special report published as the UAE prepares to stage the United Nations’ Cop28 climate change summit, AGBI examines the Gulf’s […]

Ancient rock art to draw modern tourists to Saudi Arabia

Saudi Arabia is funding research and excavation of the ancient rock art in its caves and mountains as it seeks to develop cultural tourism, an archaeologist has told AGBI. Dr Majeed Khan, who acts as a consultant to the kingdom’s Ministry of Culture, has been researching its petroglyphs – images carved out of rock thousands […]

People & Lifestyle

Indian composer A.R. Rahman at the Red Sea International Film Festival in Jeddah

No need to fear AI, says Indian music legend

New technologies such as artificial intelligence should be embraced, famed Indian composer A.R. Rahman said at the Red Sea International Film Festival in Jeddah this week.  “It’s not new… human beings are constantly evolving, they will rise up to something that they can do.” AI has become something of a bogeyman in people’s minds, but […]

Gaia London, Mayfair. The restaurant will open on December 10

Dubai’s Gaia to open fourth outlet in London next month

UAE-headquartered Fundamental Hospitality Group will open its fourth international Gaia restaurant – a luxury dining concept created in Dubai – in London next month as part of its global expansion plan. The restaurant will also house NYX, a signature lounge, in the fashionable London neighbourhood of Mayfair. Gaia London spans almost 10,000 square feet and 160 […]

Gary Neville

UAE buyers help ex-England footballer hit property goals

The former Manchester United and England footballer Gary Neville has revealed that one in five properties in his luxury residential development have been snapped up by UAE investors. Neville, a Champions League-winning defender turned entrepreneur, visited the Emirates this week to gauge Middle Eastern interest in his £400 million ($501 million) hotel and apartment project […]

Women on computers Video length: 03:47

IT opportunities in UAE to leap 80% thanks to AI uptake

Job opportunities in the UAE’s information technology sector will rise 80 percent as IT leaders plan to augment their teams in the next 12 months, according to a survey.  The driving force behind this surge in demand for IT professionals is the advance of technology such as artificial intelligence (AI), generative AI and machine learning, […]

Time for a change: Saudi Arabia is to use the Western calendar for all purposes except in Islamic contexts

Saudi Arabia shifts to Western calendar

Saudi Arabia is to shift towards using the Gregorian calendar in all official transactions, reserving the Islamic system only for religious occasions, the cabinet said this week, in a move that could presage aligning the weekend with international norms.  A statement was issued on October 31 after a cabinet meeting chaired by Crown Prince Mohammed […]

Aula greg silverman

Hollywood mogul is AlUla’s hero in Saudi movie twist

The ancient city of AlUla in Saudi Arabia has turned to a former Warner Bros movie mogul to further its ambitions to become a world-class hub for the film and creative industry. Film AlUla, the Royal Commission for AlUla’s film agency, has signed a three-year deal with Stampede Ventures, led by founder and CEO Greg […]

Whisky investors may be tempted to taste their purchases, but the real value grows when it is left in the bottle or barrel

Middle East whisky investors toast strong returns

Investors in rare whisky could be forgiven for raising a glass to the success of their investment over the past 10 years. Just maybe not using the expensive stuff. The latest Knight Frank Luxury Investments report revealed the value of rare whisky has soared by 322 percent in that time. That is a higher return […]

Around the world

Total CEO backs renewables to phase out fossil fuels

TotalEnergies’s CEO gave his backing to an international pledge to triple renewable energy generation at the Cop28 climate summit, calling it necessary to phase out fossil fuels and decarbonise. “It’s the right way to frame the object, tripling renewables, because if we don’t do that, there’s no way to phase out fossil energy,” Patrick Pouyanne […]

Lula says Brazil will never be a full member of Opec+

Brazil will never join the Opec+ group of oil-producing nations as a full member and instead only seeks to participate as an observer, Brazilian President Luiz Inacio Lula da Silva said on Sunday. Lula’s remarks to reporters at the UN Cop28 climate summit in Dubai clarified his statements a day earlier that Brazil would “participate” […]

Over 100 nations agree to 5% lower emissions by 2030

A meeting of more than 100 countries on Friday agreed to an interim goal for emissions reductions from global aviation by 2030 by using less-polluting fuels, but China, Russia and some others aired concerns about the impact on their economies. The goal, which came after five days of UN-led talks in Dubai, called for five […]

Fire, Forest Fire, Outdoors

Brazil plans mega fund to conserve forests at Cop28  

Brazil plans to propose a “huge” fund to pay for the conservation of tropical forests at the United Nations Cop28 climate change summit, which begins later this month in Dubai, the country’s top climate negotiator said on Thursday. That fund, not previously reported, would be the latest in a proliferation of multilateral environmental funds. Countries […]