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Sustainability

Sustainability and environmental business news, opinion and analysis from the Middle East

Cop28

Cop28 president Sultan Al Jaber and Cop28 director general Majid Al Suwaidi at the Closing Plenary session

UAE climate fund aims to mobilise $250bn by 2030

Altérra, a $30 billion climate-focused fund set up by the UAE and asset managers BlackRock, TPG and Brookfield, aims to catalyse the investment of $250 billion of private capital by 2030, its chief executive said.  “The vision for Altérra was borne out of the Cop28 agenda for how to make climate finance more available, accessible […]

February 19, 2024
Cop28 president Sultan Al Jaber said 'polarisation and pointing fingers' would not help to maintain the momentum gained at the 2023 event

UAE maintaining Cop28 momentum with ‘Troika’ partnership 

Cop28 host the UAE has reached an agreement with future hosts Azerbaijan and Brazil to make sure the momentum achieved at the event in Dubai continues throughout the next two climate summits. The Cop Presidencies Troika (group of three) was launched at Dubai’s Expo City with the aim of sticking to the 1.5C maximum global […]

February 13, 2024

Latest Sustainability News

'National emissions trading systems are essential to create a global carbon price,' said the European Energy Exchange

Turkey and Europe join up to promote carbon trading

The European Energy Exchange (EEX) and Turkish energy bourse Enerji Piyasalari Isletme A.S (Epias) have signed a memorandum of understanding to develop carbon emissions trading in Turkey. “We look forward to working with Epias in creating a robust emissions trading system (ETS) in Turkey by providing our expertise in carbon markets,” said EEX chief executive […]

An Emirates flight at Cairo International Airport. Emirates last year launched a $200 million fund to produce sustainable aviation fuel

Passengers pay for aviation’s sustainability shortcomings

Penalties imposed on the aviation industry for failing to meet stringent sustainability targets will ultimately lead to higher air fares for passengers, according to an industry expert. “The customer is going to pay the extra cost,” said Wahab Teffaha, secretary general of the Arab Air Carriers’ Organization, speaking at the 11th annual Arab Aviation Summit […]

Abu Dhabi's Offset8 is investing in Indonesia to fund biochar, which is made from burning agricultural waste and used for carbon sequestration

Asset manager Offset8 invests in Indonesia carbon project

Asset manager Offset8 Capital, which specialises in financing climate mitigation projects, has facilitated an undisclosed early-stage investment in a waste management scheme in Indonesia.  The project, run by Singapore-based sustainable waste management company Sawa EcoSolutions and its Indonesian operating arm Legasi Alam Indonesia, is expected to generate around $50 million of carbon credits over the […]

Masdar Arlington Energy is building two battery energy storage system projects in the UK towns of Rochdale and Stockport

Masdar starts work on two UK battery storage projects

Masdar Arlington Energy, a subsidiary of UAE’s Masdar, has started construction on two battery energy storage system (BESS) projects in the UK. The Royle Barn Road plant in Rochdale and Welkin Road plant in Stockport will have a combined capacity of 55 MW and provide enough energy to power 25,700 homes.  Masdar acquired UK-based Arlington Energy in […]

DP World's terminal at Dakar in Senegal, one of the countries in the first phase of the decarbonisation project

DP World and Masdar link up for project to decarbonise ports

Two of the UAE’s biggest companies have formed a partnership that aims to decarbonise ports in the Middle East and Africa. Logistics group DP World has signed a three-year agreement with clean energy giant Masdar. Their initial focus will be on ports in Saudi Arabia, Senegal and Egypt. The companies will identify the best sites […]

'International partnerships are crucial,' says Anne-Marie Mountifield, chair of The Solent Cluster

UK’s Solent Cluster courts Gulf for green investment

The Solent Cluster, a network of 114 companies with interests on the English south coast, is considering working with Gulf companies to deliver $15 billion of green investment.  The group is prioritising decarbonisation and among its proposals are a sustainable aviation fuel (SAF) plant for which Dubai’s national carrier Emirates and other airlines could become […]

An average of 1.4 GW of new solar capacity will be needed per year until 2037 to meet the increasing demand for electricity in Abu Dhabi engineers solar panels hard hats solar power

Abu Dhabi plans decade of solar power launches

Abu Dhabi is to launch a new solar power project each year for a decade, starting in 2027, Bruce Smith, strategy and planning executive director at the Emirates Water and Electricity Company (EWEC), told AGBI. EWEC is also exploring the issuance of a green bond to finance this series of projects, he said. The company […]

UAE France

Climate transition galvanises ties between UAE and France

Climate transition is becoming a central focus of economic cooperation between the UAE and France as the countries agreed to establish a “Bilateral Climate Investment Platform”. The platform aims to accelerate joint projects and investments in clean energy sectors, with a particular focus on advancing the decarbonisation of industries such as steel, cement and petrochemicals. […]

Al Jaber and IAE representatives met in Paris and discussed ways to support climate change commitments

Take action to keep climate goal in reach, urges Al Jaber

The UAE consensus achieved at the Cop28 summit in Dubai set a clear roadmap for keeping global temperature rise to within 1.5C. Now the world must turn the plan into action and results, said Cop28 president Sultan Al Jaber.  Al Jaber told the International Energy Agency roundtable in Paris on Tuesday that all stakeholders must […]

ADGM

ADGM predicts fresh wave of green finance companies

Abu Dhabi Global Market has a “strong pipeline” of green and sustainable finance companies due to open in the free zone this year as the sector expands and matures, a senior ADGM official has told AGBI. “There are a number of asset managers and others establishing themselves here that are green and climate transition-focused,” said […]

green bond fee waiver Emirates NBD

Emirates NBD wins first UAE green bond fee waiver

Emirates NBD has become the first financial institution to benefit from a fee waiver intended to boost sustainability-related debt security issuances in the UAE. The Dubai Financial Services Authority, which announced the green bond fee waiver during the Cop28 summit last year, said more financial institutions were submitting applications to benefit from the scheme. However, […]

Kezad and Titan executives sign the deal for the lithium processing plant, described as a 'turning point' for the UAE's EV strategy

Abu Dhabi plans lithium plant to support EV growth

A $1.4 billion lithium processing plant is being planned in Abu Dhabi by Kezad Group and Titan Lithium, a UAE-based company, to support the region’s fledgling electric vehicle (EV) industry. Kezad (Khalifa Economic Zones Abu Dhabi) and Titan have signed a 50-year land lease agreement for the AED5 billion plant. The plant, to be developed […]

An Aramco worker cycles around the Hawiyah gas plant. The state oil major is planning to expand the facility

Experts wonder if Saudi Arabia has enough gas to go around

Saudi Arabia is investing hundreds of billions of dollars in natural gas, but analysts are divided about the chances of the world’s largest oil exporter becoming a gas-exporting powerhouse too. The kingdom’s biggest gas play is the Jafurah basin, located in the Tuwaiq mountains about 185 miles from Dammam and southeast of the massive Ghawar […]

A NASA engineer tests a CubeSat's solar array. Small, modular CubeSats can help a range of Saudi monitoring programmes.

Saudi CubeSats could send green monitoring into orbit

Saudi Arabia plans to launch two nanosatellites – also known as CubeSats – per year to help with environmental issues such as finding water and locating oil spills. These will also play a security role in monitoring the large territory, a space cybersecurity expert said at a Saudi defence forum.  CubeSats – low-altitude, cheap-to-produce microsatellites […]

Steel production in the Gulf produces less emissions than traditional coal-fired furnaces used in other regions

Gulf steel has a keen edge on Chinese and Indian rivals

While the Gulf is currently a minor player on the global steel-making stage, economic diversification and the energy transition may be about to change all that. As the world seeks to decarbonise, Gulf steel makers have a head start, already producing lower-carbon steel than global sector leaders China and India. The region’s ample supplies of […]

A green hydrogen complex in south-west France. The UAE wants to be a top 10 producer of green hydrogen by 2031

Abu Dhabi and UK partner plan green hydrogen complex

Abu Dhabi has linked up with Hycap, an asset manager that funds net zero projects, to develop an industrial complex for green hydrogen. The facility will include an electrolysis plant, hydrogen storage and tankers for transport. The partnership between Abu Dhabi Department of Economic Development (ADDED) and UK business Hycap hopes to attract international companies […]

Dubai has recorded an increase in the use of EVs since 2015, with the numbers reaching 25,929 by the end of 2023

Dubai records 59% surge in EV charging sessions in 2023

Dubai recorded a 59 percent year-on-year increase in electric vehicle (EV) charging sessions last year, as green mobility rapidly accelerates in the emirate. The EV green charger initiative recorded 1,145,427 charging sessions in 2023, Dubai Electricity and Water Authority (Dewa) said in a statement.   Through this initiative, the Dubai utility provider provided 23419.821 megawatt hours (MWh) of […]

Mohammad Abdelqader El Ramahi, Masdar chief green hydrogen officer, and CMA CGM's Christine Cabau Woehrel sign the strategic supply partnership on green fuel

UAE’s Masdar to supply green fuel to CMA CGM

Abu Dhabi state-owned renewable energy company Masdar has signed a strategic supply partnership to explore long-term green alternative fuels for French shipping major CMA CGM Group’s vessels. The partnership aims to source, supply and deliver green alternative fuels, such as biofuels based on methane and methanol, for CMA CGM’s dual-fuel vessels in Abu Dhabi port from 2025 until […]

Lucid's factory in Saudi Arabia's King Abdullah Economic City will have the capacity to assemble 5,000 vehicles per annum in the first phase

Saudi’s Maaden unit strikes deal with EV maker Lucid

A subsidiary of the Saudi Arabian Mining Company (Maaden) has signed an agreement to supply aluminium sheets to US electric vehicle maker Lucid Motors. Maaden Rolling Company signed the deal with Lucid – which is 60.2 percent owned by Saudi Arabia’s Public Investment Fund – during the Future Minerals Forum in Riyadh. The deal will […]