Opinion Sustainability Desalination is the answer – but it must be green The path forward in addressing water scarcity and pollution demands pragmatic solutions March 8, 2024
Opinion Markets We must build investors’ trust in carbon markets. This is how Voluntary carbon markets are recovering after a difficult couple of years, but there's more to do March 6, 2024
Opinion Banking & Finance Took them long enough, but at last BlackRock is calling out ESG The US investment giant could have got there sooner if it had listened to the Gulf March 4, 2024
Sustainability Saudi Arabia and UAE back fishing subsidies ban The UAE and Saudi Arabia were the only GCC countries to back a failed bid by the World Trade Organization (WTO) to curb subsidies that contribute to overfishing and wider fishing sector overcapacity. It had been hoped that the Agreement on Fisheries Subsidies (AFS), which, according to WTO director-general Ngozi Okonjo-Iweala, has “been on the […] March 4, 2024
Sustainability 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 […] February 29, 2024
Aviation 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 […] February 29, 2024
Finance 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 […] February 29, 2024
Renewable Energy 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 […] February 28, 2024
Renewable Energy 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 […] February 27, 2024
Sustainability 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 […] February 26, 2024
Energy 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 […] February 23, 2024
Sustainability 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. […] February 22, 2024
Sustainability 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 […] February 21, 2024
Sustainability 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
Markets 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 […] February 19, 2024
Banking & Finance 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, […] February 15, 2024
Manufacturing 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 […] February 14, 2024
Analysis Oil & Gas 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 […] February 14, 2024
Sustainability 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
Tech 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 […] February 12, 2024
Opinion Sustainability Sands of time running out for anti-desertification campaign News that Saudi Arabia will host the largest ever UN convention to combat desertification reflects its urgency February 9, 2024
Analysis Industry 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 […] February 7, 2024
