Energy 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 […] February 6, 2024
Sustainability 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 […] February 5, 2024
Sustainability 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 […] January 31, 2024
Opinion Sustainability Baku gets planning for Cop29 – with a little help from the UAE Azerbaijan to underline the role of petrostates in climate change policy January 30, 2024
Manufacturing 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 […] January 30, 2024
Construction Neom reveals Zardun: a luxury eco-resort Neom, the smart city being developed in the north west of Saudi Arabia, has announced another luxury ecotourism resort on the Gulf of Aqaba, called Zardun. Neom has rolled out plans for a range of luxury resorts in recent months. These include Aquellum, with a floating marina; a tower complex called Epicon; the mountain hotel […] January 25, 2024
Oil & Gas Adnoc raises decarbonisation budget to $23bn Adnoc is to allocate $23 billion for decarbonisation and lower-carbon projects, it said on Monday, up from a previous target of $15 billion. The state oil company made the announcement at its annual board meeting, which was chaired by Sheikh Mohamed bin Zayed Al Nahyan, the president of the UAE. “The increased allocation will include investments […] January 22, 2024
Opinion Markets Carbon credit futures can be the next big thing for markets This emerging sector opens up opportunities for financial hubs across the GCC January 17, 2024
Opinion Sustainability Gulf industrial decarbonising needs ambition and urgency The UAE has published a pathway to carbon zero by 2050. It now needs support from policy January 17, 2024
Sustainability Turkish steel producers to invest $3.2bn to cut emissions Turkey’s two largest steel producers Erdemir and Isdemir will invest $3.2 billion (96.3 billion lira) to boost production and cut carbon emissions by 25 percent by 2030. Erdemir steel mill will reduce coal consumption by using biomass and natural gas while building new electric arc furnaces at its facilities in southern and northern Türkiye, Daily […] January 15, 2024
Construction Saudis to build carbon-negative concrete factory The Saudi real estate company Roshn Group and the Bahamas-based startup Partanna have agreed to build a factory to produce carbon-negative concrete in the kingdom. The specifics of the agreement, including the facility’s size and location, are still being finalised, a Partanna spokesperson told AGBI. The factory could have the capacity to produce enough concrete […] January 12, 2024
Retail Retailers point up savings as Dubai bans plastic bags Supermarket operators have told AGBI that Dubai’s ban on single-use plastic bags is an opportunity to cut costs – and pass on savings to customers. The emirate’s prohibition on the import, production and circulation of single-use plastic shopping bags came into force on January 1, in an attempt to reduce waste and pollution. The Gulf […] January 10, 2024
Sustainability Adnoc builds CCS portfolio with Storegga stake Abu Dhabi’s state oil company, Adnoc, has taken a 10 percent equity stake in Storegga, a UK developer of decarbonisation and hydrogen projects. The deal is Adnoc’s first international equity investment in a carbon management platform. The total amount of the investment was not disclosed. Storegga is one of the joint venture partners behind the Acorn […] January 9, 2024
Opinion Economy GCC can emerge as ‘Middle Powers’ in second Cold War Three factors will enable the GCC to benefit from the fragmentation January 9, 2024
Banking & Finance Bahrain Steel lands $450m loan for green transition Bahrain Steel, a supplier of high-grade iron ore pellets, has secured a $450 million sustainability-linked loan from a consortium of regional banks as part of its carbon footprint reduction drive. The loan will be used to build the world’s largest stockyard shed with rooftop solar panels, in addition to meeting working capital requirements, Dubai-headquartered lender […] January 9, 2024
Sustainability Gulf’s recycling industry grows with mega-projects The volume of Gulf construction projects will increase the use of recycled materials, the head of the Bureau of Middle East Recycling has told AGBI. Ibrahim Aboura, who is also managing director of Aboura Metals in Dubai and a committee chairman of the Bureau of International Recycling (BIR), added that it will also raise the […] January 8, 2024
Real Estate Aldar’s green retrofits lead to ‘phenomenal payback’, says CEO Aldar Properties has increased the value of buildings in its portfolio by up to 10 percent through green retrofits, its group chief executive said. The Abu Dhabi developer has seen “phenomenal” payback, Talal Al Dhiyebi told AGBI, after investing around $40 million to improve the energy efficiency of residential and other real estate. “We’ve done […] January 3, 2024
Sustainability Oman targets 22,000 EVs on its roads by 2030 Oman plans to have 22,000 electric vehicles on the road by 2030 as part of its decarbonisation strategy, according to local media. A combination of technological advancements and robust charging infrastructure will accelerate the adoption of EVs, Oman Daily Observer reported, citing Said Hamood Al Maawali, the minister for transport, communications and IT. “The public […] January 1, 2024
Sustainability Dubai bans single-use plastic bags in new year recycling push A ban on single-use plastic bags has come into force in Dubai. The January 1 ban follows a resolution issued by Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, reported the UAE state-run news agency Wam. It aims to encourage the private sector to promote the use of recycled products, aligning with […] January 1, 2024
Sustainability Abu Dhabi uses drones and AI to reseed desert land Abu Dhabi has begun trials to restore arid desert land in the Al Dhafra region by using drones for aerial reseeding. The pilot is being undertaken by the Environment Agency Abu Dhabi (EAD) and the investment and holding company ADQ, along with a UK-based environmental technology company, Dendra. The companies will use advanced seeding drones […] December 28, 2023
Sustainability Abu Dhabi takes initiative to decarbonise industrial sector Industrial Development Bureau (IDB), the industrial development arm of Abu Dhabi Department of Economic Development, and Germany’s Siemens Energy have signed an agreement to decarbonise Abu Dhabi’s industrial sector. The collaboration will support Abu Dhabi’s industrial strategy to establish the emirate as the most competitive industrial hub in the region, the UAE state-run Wam news […] December 26, 2023
Sustainability Egypt firm to defend its water after dam talks fail Egypt said on Tuesday that the latest talks over the Grand Ethiopian Renaissance Dam (Gerd) have failed, but it will closely monitor the process of filling and operating the dam and reserve the right to defend its water. “Egypt reserves its right, in accordance with international charters and accords, to defend its water and national […] December 21, 2023
