Video Sustainability Space data joins the battle against greenwashing By Shruthi Nair December 12, 2023, 10:57 AM ESG rules needed in region Space data easily verified Cop28 hosts space pavilion Space data is a vital tool for measuring decarbonisation and preventing greenwashing, an industry expert has told AGBI at the Cop28 conference in Dubai. “There is no other way to monitor [decarbonisation and carbon credits] at that scale if it wasn’t for Earth observation data,” said David Merren, assistant director for analytics and spatial at Deloitte. “The best thing about Earth observation data is that it can be taken by other entities and verified, so we can avoid greenwashing scandals that are massively on the radar of a lot of companies, especially in the region,” he added. Most of the demand for space data in the Middle East comes from government agencies and giga-projects. “The environment agency in Abu Dhabi commissions a biodiversity and mapping survey every year that uses Earth observation data,” Merren said. “From business, we are finding a huge amount of demand from giga-projects,” he added. Neom has a total planned area of 26,500 sq km, so “will not be able to monitor through ground observation because of the amount of space they have”. UAE takes next step in developing satellite industry Masdar City exec: Let’s talk about greenwashing Space tech company launches Dubai HQ and listings plan Merren also pointed to the lack of regulations requiring companies in the Gulf to report on environmental, social and corporate governance (ESG), suggesting it is slowing the growth of the region’s space data sector. “New regulations in the EU require roughly 50,000 more companies reporting on their ESG impact. Within the region, only companies listed on ADX need to report on that, but other companies don’t. And without that regulatory requirement to report, companies won’t spend the extra money to do that,” he said. Another challenge is a skills shortage. According to Amar Vora, head of space at Serco Middle East, governments, businesses and academia need to take a more collaborative approach to ensure there are enough skilled workers for the sector to grow in the long term. At Cop28, UAE satellite communications company Yahsat signed an agreement with global emissions monitoring organisation GHGSat to provide methane monitoring services to Abu Dhabi oil giant Adnoc. “Methane emissions is one of the increasingly adopted use cases of space-based remote sensing data. This can support the oil and gas industry and governments to ensure any methane emission leaks are actively acted upon,” Vora said. Given that an average person interacts with 47 satellites every day, the space sector is becoming increasingly prominent. “The fact that this is the first Cop to have a platform for space is an achievement in its own right,” Vora added. How much is a flight ticket to outer space? Watch the full video to find out and learn more about space tourism.
Mining Ma’aden signs $1bn contracts to develop industrial cities Saudi mineral giant Ma’aden has signed three contracts worth a combined $922 million with foreign companies to develop a third phosphate fertiliser project. The majority state-owned Saudi mining company announced the agreements in a note to the Saudi bourse on Thursday, coinciding with the final day of the Future Minerals Forum in Riyadh. Ma’aden is […] 9 hours ago
Tax $660m a year ‘sin tax’ target set by Kuwait Kuwait hopes to raise 200 million dinars ($660 million) a year through a “sin tax” on unhealthy products as part of tax reforms proposed by the International Monetary Fund, the country’s finance minister said on Wednesday. Noora Al-Fassam told the official Kuwaiti news agency that her ministry was working on a new law for a […] 10 hours ago
Transport Tenders issued for high speed Abu Dhabi-Dubai rail link Tenders have been issued for the design and construction of central components in a high-speed rail link between Abu Dhabi and Dubai. Etihad Rail, the national rail company of the UAE, has sent out tenders for designing and constructing civil works and station packages for the line connecting the two cities as part of the […] 11 hours ago
EXCLUSIVE Aviation Wizz Air increases flights from UAE to Israel after ceasefire The budget carrier Wizz Air is increasing the number of flights between Abu Dhabi and Tel Aviv after the ceasefire agreement between Israel and Hamas. The airline had previously scaled back its Tel Aviv-Abu Dhabi service to four flights a week because of the conflict, down from its pre-crisis schedule of two flights a day. […] 12 hours ago