Cop28 Finance challenges burden Egypt’s clean energy goals A week before Cop27 began, the governor of South Sinai, Khaled Fouda, declared Sharm el-Sheikh “the first environmentally friendly tourist city in the Middle East.” His announcement marked the conclusion of the five-month “Green Sharm El-Sheikh” project, which introduced hundreds of electric cars, hybrid and hydrogen buses, and numerous vehicle charging points to the city […] November 8, 2022
Sustainability DP World to invest $500m to cut CO2 emissions over five years Dubai-owned ports giant DP World plans to invest up to $500 million to cut CO2 emissions from its operations by nearly 700,000 tonnes over the next five years, UAE state-owned WAM news agency reported, citing chairman and group CEO Sultan Ahmed Bin Sulayem. He reinforced the company’s commitment to sustainability by taking on the Green […] November 8, 2022
Sustainability What to watch at Cop27 summit in Egypt on Monday Leaders from around the globe will begin making speeches at the UN climate summit in Egypt on Monday as they seek to whip up ambition in the fight against global warming. But their messages will likely differ a lot on key points, and their soaring rhetoric will at times clash with performances that have lagged […] November 7, 2022
Analysis Cop28 ‘Loss and damage’ to take centre stage at Cop27 The United Nation’s Cop27 summit has opened in Egypt with secretary-general Antonio Guterres stating that climate change is happening with “catastrophic speed” and the planet is sending a “distress signal”. More than 120 world leaders are due to arrive at the Cop27 summit being staged in the Red Sea resort of Sharm el-Sheikh. This will […] November 7, 2022
Sustainability Egypt to become Africa’s hub for carbon certificates trading Egyptian Exchange Holding Company for Capital Markets Development, Agricultural Bank of Egypt and Libra Capital Group have signed an agreement to establish a carbon certificates trading company, according to Egypt Today newspaper. The report said no financial and organisational details of the new company were given. Egyptian Stock Exchange executive chairman Ramy El-Dakani said the […] November 7, 2022
Sustainability UK PM to ask leaders to deliver on global warming promises British prime minister Rishi Sunak will on Monday use a speech at the United Nations climate summit in Egypt to tell world leaders to deliver on their promises to tackle global warming. Sunak, who became prime minister late last month, had initially said he would be too busy coming up with a plan to fix […] November 7, 2022
Analysis Sustainability 30 of the most sustainable companies in the Middle East With Cop27 beginning today in Egypt, we focus on 30 businesses tackling the social and environmental challenges that threaten the region Middle Eastern companies large and small are going green as they realise the environmental and commercial potential of being socially conscious. Governments are also focusing on sustainability, placing green projects at the heart of […] November 6, 2022
Sustainability Cop27 climate talks in Egypt are set to get heated The Cop27 climate talks, which begin on Sunday in Sharm El-Sheikh, Egypt on behalf of Africa face the challenges of an energy crisis and the war in Ukraine. These impactful events have dramatically changed the geopolitical context of Cop since Cop26 was held in the UK city of Glasgow last year. A key question expected […] November 6, 2022
Cop28 Egypt to sign 9 projects with $15bn investments at Cop27 Egypt’s Ministry of International Cooperation plans to sign contracts for nine projects with investments worth $15 billion at the Cop27 climate summit. The projects fall in the water, food and energy programme, which is a regional and international approach to move from the pledges stage to the implementation stage, reported Egypt Today, citing a ministry […] November 3, 2022
Sustainability Aramco unveils $1.5bn sustainability fund Saudi Aramco has announced the creation of a $1.5 billion Sustainability Fund to invest in technology to support energy transition. Unveiled at the Future Investment Initiative currently taking place in Riyadh, Aramco said it is among the largest sustainability-focused venture capital funds globally. Managed by Aramco Ventures, its venture capital arm, the Sustainability Fund is […] October 26, 2022
Analysis Sustainability Revealed: Gulf climate targets – and the progress so far The economies of the Middle East differ greatly in size and diversity – partly because of the distribution of oil and gas resources. Their impact on the climate varies accordingly. Governments’ willingness and ability to tackle climate change also differs. Many oil-rich Gulf states are engaged in high-profile renewable energy projects, for example, yet their […] October 26, 2022
Analysis Sustainability Egypt’s Cop27 will see developing nations call for ‘climate justice’ Drought and famine haunt the Middle East. The Dead Sea has fallen to its lowest level in centuries. Starved of food and fresh water, desperate migrants criss-cross the Mediterranean, fomenting social unrest and violence. Within a few decades, a healthy global trade network has collapsed. Every major settlement has been abandoned or razed to the […] October 21, 2022
Analysis UAE investors keen to fund $226m net zero village in UK UAE investors are in talks to help finance a 21st-century net zero development inspired by a Victorian English village. A planning application has been submitted for the Heath Park project in Runcorn, northwest England, which aims to test future living trends in areas such as employment, housing, leisure, community, transport and energy consumption. Heath Park […] October 19, 2022
Sustainability Mubadala buys stake in German offshore wind power giant Mubadala Investment Company has announced the acquisition of a stake in Skyborn Renewables, the world’s largest private offshore wind developer. The deal by the Abu Dhabi-based sovereign investor, which manages a global portfolio of assets valued at $284 billion, bolsters its rapidly growing clean and sustainable energy portfolio. Global Infrastructure Partners (GIP) also has a […] October 19, 2022
Transport UK firm in talks in Dubai to launch high-speed, electric ferries Belfast-based Artemis Technologies is in talks to with Dubai authorities to launch its electric, high-speed passenger ferries in the emirate, part of the UAE government’s AED600 billion ($163bn) Net Zero 2050 Strategy. The Northern Irish company’s marine vehicles, which are 24 metres in length and accommodate up to 150 passengers, can achieve a top speed […] October 16, 2022
Sustainability Siemens innovation centre to help accelerate UAE’s ‘net zero’ goals The Abu Dhabi Investment Office (ADIO) and Germany’s Siemens Energy AG have joined together to accelerate the UAE’s goal to become ‘net zero’. Under the partnership, Siemens Energy will receive support to set up its Middle East Innovation Centre in Abu Dhabi, as part of ADIO’s AED 2 billion ($545 million) innovation programme, according to […] October 12, 2022
Sustainability UAE backs use of robotic planes to charge fog clouds in arid areas The UAE is continuing its support for scientific experiments involving robotic, unmanned aircraft releasing electric charges into fog clouds, in a bid to encourage more rainfall in the skies above the emirates. Real-world ‘cloud seeding’ experiments conducted by the UK’s University of Reading, and supported by the UAE’s National Centre for Meteorology, confirmed that releasing […] October 10, 2022
Sustainability King Charles will not attend Cop27 climate summit in Egypt Britain’s King Charles III will not attend the United Nations climate change summit in Egypt next month, a royal source said on Sunday, as the new monarch steps back from his previous high-profile campaigning. Buckingham Palace sought government advice about the Cop27 summit and it was unanimously agreed that it would not be right for […] October 3, 2022
Sustainability Volkswagen faces Israeli emissions class action suit Volkswagen faces a class action suit in Israel after a court ruled in favour of petitioners seeking compensation from the German carmaker over diesel emissions cheating. A Tel Aviv district court ruled that the class action suit will represent the car owners as well as the general public who were exposed to higher pollution levels, […] September 30, 2022
Sustainability Egypt wants to discuss climate change compensation at Cop27 Egypt, which is hosting the upcoming Cop27 climate negotiations, is working on how to include compensation for economic losses due to climate catastrophes on the formal agenda of the November summit, as pressure grows from vulnerable countries to prioritise the issue, the country’s special representative of the summit said on Wednesday. Wael Aboulmagd, Egypt’s special […] September 29, 2022
Sustainability Egypt’s new fund eyes agritech startups in Mideast and Africa A new climate resilience fund in Egypt plans to raise $25 million to invest in nature-positive and sustainable agriculture startups across the Middle East and Africa, The National newspaper reported. The fund will invest $12.5 million in Egyptian ventures, while the rest will be equally split between the two regions. It will target pre-seed startups, […] September 28, 2022
Sustainability Fears mount over Iran’s inaction on climate change In just over a year, Iran has endured deadly flash floods, crop-ruining drought, punishing dust storms and heatwaves that have pushed temperatures as high as 48 degrees Celsius – all crises likely fuelled by climate change. But for the people affected, finding help is proving very difficult. Iran is one of just four countries that have […] September 26, 2022
