Opinion Banking & Finance Despite ‘greenlash’, UAE banks will stick to net zero commitment US banks may have withdrawn from the Net Zero Banking Alliance, but FAB and ADCB should stay put January 7, 2025
Opinion Tourism The future of Middle East tourism must be regenerative How can we shift from reducing harm to regenerating the environments on which we depend? January 7, 2025
Industry As prices rise, Saudi cement companies may seek alternatives Cement companies in Saudi Arabia may be forced to turn to more sustainable alternatives after the prices of fuel products used in production rose for the second successive year. Saudi businesses have been given notice of the price increases, which came into effect from the start of this month. The price of methane, the main […] January 3, 2025
Opinion Agriculture Without Assad, Syria is ripe for a new crop of farming investment Relying solely on international markets far away from home is risky January 3, 2025
Opinion Energy DP World, energy and AI: five predictions for 2025 Let the guessing game begin – but no promises... December 27, 2024
Sustainability DP World’s ‘blue bond’ to fund sustainable maritime projects Dubai-based DP World has launched a $100 million blue bond to fund sustainable maritime and water-related projects. It will be the first such issuance across the Middle East and North Africa region, aiming to address critical funding gaps related to UN sustainable development goals. The blue bond aligns with DP World’s ocean strategy and long-standing […] December 20, 2024
Energy Former BP boss named on Adnoc’s investment board Bernard Looney, the former CEO of BP, is among the board members of Abu Dhabi National Oil Company’s new lower carbon energy and chemicals investment company, XRG. Formed by Adnoc last month, XRG aims to more than double its $80 billion asset value over the next decade by capitalising on the demand for low-carbon energy […] December 13, 2024
Sustainability UAE to get first lithium battery recycling plant The UAE’s first lithium battery recycling plant will become fully operational by the second quarter of 2027. The facility, a collaboration with state-backed Kezad Group and Witthal Gulf Industries, a unit of Singapore-based Witthal Group of Companies, will have the capacity to recycle 5,000 tonnes of battery waste annually by 2027. The plant is expected […] December 13, 2024
Sustainability Morocco partners with central African nations on EV plan Morocco, the Democratic Republic of Congo (DRC) and Zambia have joined together to develop the infrastructure needed for electric vehicles (EVs), as they strive to lower their dependence on fossil fuels. The three nations will club their resources and experiences to support the development of EV batteries and battery precursors. Developing carbon-free transportation is essential […] December 12, 2024
EXCLUSIVE Construction Masdar City struggles to find contractors for cutting-edge projects Masdar City, Abu Dhabi’s flagship sustainable eco-city project, is facing a shortage of contractors skilled enough to meet the demands of its ambitious projects, a senior executive has warned. Masdar, the UAE’s clean energy company, is the anchor tenant at Masdar City, with the Mubadala Investment Company, one of Abu Dhabi’s sovereign wealth funds, ashareholder […] December 12, 2024
Sustainability Saudi Arabia to invest $10m in sandstorm warning system Saudi Arabia will invest $10 million over the next five years to support its global sand and dust storm monitoring initiative. The initiative, launched through its United Nations Convention to Combat Desertification (UNCCD) Cop16 presidency, will expand on existing international sand and dust storm capacity, overseen by the World Meteorological Organisation (WMO). Two billion tonnes […] December 12, 2024
Analysis Sustainability Red Sea coral to get extra protection from tourists Saudi Arabia has vowed to implement a series of measures to protect its Red Sea coral reef over the next five years as it pushes ahead with major tourism projects in the area. But experts have warned that Saudi coral remains at risk, even with major spending policies. According to the National Red Sea Sustainability […] December 12, 2024
Sustainability Landmark Group opens textile recycling unit Retailer Landmark Group has opened a textile recycling facility at Dubai World Central that will convert clothes into fibre for new garments. The Dubai company launched a takeback programme last year at its Centrepoint and Max Fashion stores, and more recently at Home Centre and Home Box stores. Clothes are brought to the recycling centre […] December 10, 2024
Analysis Finance Gulf could turn a crisis into opportunity with catastrophe bonds Torrential rains, flash floods, cars adrift in streets turned into rivers – these are scenes often seen these days, from Malaysia to Valencia. They are also becoming more common in the Gulf. Flooding in April 2024 in the UAE, for example, killed five people and cost $1.8-$2.3 billion in property damage, according to Gallagher Re […] December 6, 2024
Sustainability Arab funds pledge $10bn to fight desertification The Arab Coordination Group, an alliance of 10 development funds, is to provide $10 billion by 2030 to combat land degradation, desertification and drought, it was announced on the second day of the United Nations Convention to Combat Desertification event in Riyadh. The commitment brings the total pledged to these interrelated causes at the two-week […] December 4, 2024
Sustainability Saudi and French companies link up for green projects Saudi Arabia and France have signed commercial agreements to push the development of renewables and green fuel production in the kingdom. The agreements were signed at the Saudi-French Investment Forum, attended by French president Emmanuel Macron in Riyadh. Saudi Aramco, Saudi Investment Recycling Company (SIRC), a subsidiary of the Public Investment Fund (PIF), and France’s […] December 4, 2024
Sustainability Latest talks on global plastics treaty end in stalemate Negotiations over creating a legally binding global treaty to combat plastic pollution adjourned on Monday with the 170 participating nations failing again to reach agreement. Some oil-producing countries, including Saudi Arabia and Russia, objected to proposals supported by more than 100 other nations to limit plastic production, Reuters reported. Plastics are made from hydrocarbons – […] December 2, 2024
Sustainability Adnoc launches $80bn unit for low-carbon transition State-backed energy major Abu Dhabi National Oil Company (Adnoc) has launched a new global lower-carbon energy and chemicals investment company valued at more than $80 billion. XRG will aim to more than double its asset value over the next decade by capitalising on the demand for low-carbon energy and chemicals. The three factors driving demand […] November 28, 2024
Opinion Sustainability Baku’s Cop29 makes the best of a bad hand The 'finance Cop' has delivered the biggest ever financial commitment of any UN climate summit November 25, 2024
Opinion Sustainability Grass skirts, keffiyehs and the polis – Baku’s Cop29 has it all The second biggest Cop in history was an efficient and well-organised event November 22, 2024
Sustainability Governments urged to agree carbon credit rules at Cop29 Experts have said governments need to reach binding agreements on carbon credits at Cop29 underway in Baku, Azerbaijan, to improve transparency, accountability and quality. Among the topics being debated over the two weeks at the UN conference is Article 6 of the Paris Accord, which aims to help set rules on global carbon trade. Countries […] November 21, 2024
Analysis Sustainability UAE’s ambitious NDCs balanced by criticism over oil expansion The UAE has pledged to cut greenhouse gas emissions nearly in half by 2035 under its updated Nationally Determined Contributions (NDCs), marking its most ambitious climate target to date under the Paris Agreement. While the UAE’s commitment to a 47 percent reduction positions it as a regional leader in climate action, its concurrent expansion of […] November 20, 2024