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Cop28

Cop28 is the climate change conference held in Dubai, in the United Arab Emirates in 2023

Abu Dhabi Sustainability Week goes under the theme of "United on Climate Action Toward Cop28' which will be held this year in Dubai

Clean energy investment may be hit by economic slowdown

The global economic downturn could have serious implications on investment into clean energy and cause climate change targets to be pushed back, experts have warned. Elias Hajj, senior partner at McKinsey & Co, said during Abu Dhabi Sustainability Week that an estimated $6 trillion is needed annually to fund the transition to clean energy. But […]

After criticism of oil producers at Cop27, Egypt's environment minister Yasmine Fouad said all stakeholders need to be part of the conversation

$100bn ‘a drop in the ocean’ for climate action, says Cop27 host

The world still urgently needs to address the “elephant in the room” in the climate crisis, which is financing action for vulnerable developing countries, officials from Cop27 host nation Egypt said. In 2020 combined adaptation and mitigation finance flows fell at least $17 billion short of the $100 billion pledged annually to developing countries, according […]

Sultan Al Jaber speaks at Cop26 in Glasgow. He is president of this year's UN climate conference, taking place in Dubai

Cop28 chief sets out UAE’s vision for climate finance

The UAE intends to make financing for climate change projects “more affordable [and] much more accessible”, the country’s oil chief and Cop28 president has said. Dr. Sultan Al Jaber said finance reforms were needed because the world was “way off track” the goals of the 2015 Paris climate accord, during a speech to the Atlantic […]

Adnoc

Adnoc chasing global growth with latest venture

Abu Dhabi National Oil Company (Adnoc) is creating a dedicated unit for low carbon solutions and international business. It is an attempt to monetise the decarbonisation strategy mandated to it by its board and the wider UAE government.  But the company must ensure that any future overseas work does not cannibalise that of the Abu […]

UK foreign secretary James Cleverly

UK minister stresses commitment to GCC’s clean energy transition

The UK is committed to remaining a “steadfast friend and partner” to Gulf countries as they continue to drive the clean energy transition and one of the most rapid economic transformations in history. British foreign secretary James Cleverly also hailed the development of “spectacular cities” rising from empty deserts in a speech at the Manama […]

Ministers deliver statements during the closing plenary at Cop27

Cop27 deal delivers landmark on ‘loss and damage’, but little else

Countries adopted a hard-fought final agreement at the Cop27 climate summit early on Sunday that sets up a fund to help poor countries being battered by climate disasters – but does not boost efforts to tackle the emissions causing them. After tense negotiations that ran through the night, the Egyptian Cop27 presidency released the final […]

Dispute over ‘loss and damage’ may extend talks for days

Backroom disagreements on what should have been the final day of Cop27 have ensured that talks would spill over into Saturday and possibly beyond. Delegates have for the last few days been predicting that the talks would be extended. It was only on Friday morning that the conference presidency released the first official draft of […]

Solar panels

The dark side of a renewables future

With solar panel and wind turbine production absorbing resources and causing waste, the renewables sector must find recycling solutions to establish a circular economy that truly helps decarbonise energy footprints

Venturesouq climate investment fund

Mena VC firm VentureSouq to set up climate-focused fund

Middle East and North Africa-based Venture capital firm VentureSouq is to launch a new climate-focused fund to support companies developing solutions for the green economy. Achieving net zero carbon emissions by 2050 globally will require as much as $173 trillion in investments in the energy transition, according to BloombergNEF’s (BNEF) New Energy Outlook 2021 (NEO), […]

Egyptian foreign minister and Cop27 president Sameh Shoukry, left, and United Nations secretary general Antonio Guterres on what should be the penultimate day of the climate summit

‘Blame game’ and tension over lack of final proposal

Cop27 attendees are preparing for a long weekend as it appears increasingly likely that talks in Sharm el-Sheikh will be extended. Speaking on Thursday evening at a press conference that was due to begin the process of wrapping up the summit, Cop27 president Sameh Shoukry told reporters that “there are still a number of issues […]

New Egyptian fund to invest in projects issuing carbon certificates

Egypt has launched the first domestic fund to invest in projects that issue carbon certificates (EgyCop), Egypt Today newspaper reported. The Egyptian fund for investment in projects that issue EgyCOP has an authorised capital of EGP1 billion ($40.78 million). It funds projects of local companies that reduce emissions in the country and issues them internationally […]

Luiz Inacio Lula da Silva, who won Brazil's presidential election in October, is meeting climate envoys and leaders in Egypt

Lula arrives at Cop27 to deliver message that ‘Brazil is back’

Bringing the message that “Brazil is back” in the fight against global warming, Luiz Inacio Lula da Silva arrived at Cop27 in Egypt on Tuesday – his first foreign trip since his presidential election victory. Brazil’s president-elect planned to hold meetings with envoys from Washington and Beijing on Tuesday, an aide said, as he seeks […]

Cop27 sign in Sharm el-Sheikh, Egypt

Sticking points slow crunch talks to agree final deal at Cop27

Government ministers and negotiators from nearly 200 countries began working towards a Cop27 final deal on Tuesday, with the summit host Egypt issuing assurances that the slow-moving talks remain on track. On the conference floor in Sharm El Sheikh, however, some delegates have begun to speculate that the UN talks could run over time into […]

$186bn needed for Mena to achieve Paris Agreement goals

The Middle East and North Africa (Mena) need an estimated $186 billion to help countries achieve their goals under the Paris Agreement, Vivek Pathak, director and global head for climate business at International Finance Corporation (IFC), told the UAE state-owned WAM news agency. Between 2020 and 2030, a green recovery in the region could generate […]

Slump in plastic bag usage as Dubai tackles carbon footprint

Plastic bag use has plummeted at UAE retail outlets operated by Majid Al Futtaim following the emirate’s introduction of a mandatory AED25 ($6.81) bag charge. In a small, but notable step towards reducing the UAE’s vast carbon footprint, Majid Al Futtaim said plastic bag use fell 85 percent in the three months since charges began […]

World Bank tells rich countries to give more cash for climate

The World Bank is ready to step up financing of action to tackle climate change in the world’s poorest countries, but needs fresh funds from wealthy donor countries to do so, its managing director of operations told Reuters. Axel van Trotsenburg made his comments on the sidelines of the Cop27 climate talks in Sharm El-Sheikh. […]