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Cop28

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

A programme to install solar-powered lights in Malawi enables people to work and study after sunset.

Emissions-only focus will ‘fail’, clean energy expert says

Efforts to tackle the climate challenge will be a “failure” if they continue with an emissions-only focus, delegates were told at the opening panel discussion at this year’s Cop28 in the UAE. Dennis Pamlin, a Swedish senior adviser at clean energy think tank Mission Innovation, said focusing solely on carbon emissions was a decades-old view […]

Cop28 president Sultan Al Jaber talks to the press at the Cop28 opening day Media Majlis

‘Those who pledged, must act,’ says Al Jaber as Cop28 begins

The United Nations’ Cop28 – the world’s biggest climate change conference – started today, with host country the UAE reiterating calls to accelerate climate action. Cop28 president Sultan Al Jaber rejected claims the UAE intended to use the event to strike commercial oil and gas deals.  The BBC and UK-based Centre for Climate Reporting reported […]

Cop28 president Sultan Al Jaber says allegations against the UAE are 'an attempt to undermine the work of the Cop28 presidency'

Al Jaber dismisses Cop28 oil deal allegations as ‘false’

Cop28 president Sultan Al Jaber has firmly rejected allegations that the UAE, the host of Cop28, intended to use climate talks to strike commercial oil and gas deals. The BBC and the UK-based Centre for Climate Reporting this week reported that leaked briefing documents revealed Al Jaber’s plans to discuss fossil fuel deals with 15 […]

US and China to collaborate for the success of Cop28

The United States will work with China to make the United Nations climate negotiations that begin in the UAE this week a success, Washington’s climate envoy said on Wednesday. Cooperation between the US and China, the world’s two biggest emitters of greenhouse gases, is seen as crucial to securing consensus at the November 30-December 12 […]

Harvesting wheat in Sharkia, Egypt. The Opec Fund is backing food security projects in Egypt and Jordan – both big importers of grain

Opec Fund piles up financing for wheat, wind and water

The Opec Fund for International Development is on track to meet its pledges to increase grants and loans to climate-related projects, its Middle East and North Africa head has told AGBI.  Musab Alomar, the fund’s director of public sector operations for Mena, said climate financing made up 33 percent of all Opec Fund approvals in […]

Suit, Clothing, Overcoat

Politicians lack will for climate action, says ex-chancellor

Former UK chancellor Sajid Javid has suggested that Western politicians lack the will to follow through on climate commitments – because the costs of energy transition can be unpopular with voters. Speaking in the UAE just three days before the Cop28 summit begins in Dubai, Javid said the cost of living crisis had pushed climate […]

Investors at the Abu Dhabi Securities Exchange.

Strong upsurge in UAE green sukuk ahead of Cop28

The UAE has witnessed a strong push for sukuk to finance green projects, according to data released by Fitch Ratings. Sukuk are sharia-compliant bonds that were developed as an alternative to conventional bonds, which are not considered permissible by many Muslims as they pay interest, and also may finance businesses involved in activities not allowed […]

What is Cop28 UAE? The UN climate change summit begins in Dubai on Thursday Video length: 03:41

Cop28: Everything you need to know 

What is a Cop?  The Conference of the Parties is the decision-making body of the UN Framework Convention on Climate Change. The annual Cop summits bring together the 198 parties – 197 nations plus the European Union – that signed the UN convention to combat “dangerous human interference with the climate system”. The first Cop […]

A direct-air capture plant in California. Adnoc is working on DAC and other forms of carbon storage in the UAE and abroad

Adnoc seeks to turn carbon capture into revenue stream

In the mountains of Fujairah, in the north of the UAE, an industrial site built by Adnoc sucks carbon directly from the air and converts it into rock. The CO2 is injected into the Hajar mountains, where the peridotite rock is capable of sequestering the greenhouse gas, thanks to technology developed by 44.01, an award-winning […]

Last-mile delivery company Wize's co-founder and CEO, Alexander Lemzakov

Last-mile delivery drives growth in logistics sector

Last-mile delivery is recording strong growth in the Mena logistics sector, which itself is receiving substantial funding in the region.  Logistics was the third highest-funded sector in the Mena region last year, amounting to $362 million, according to data from advisory service and investor Wamda. Wize, a logistics startup in Dubai which specialises in last-mile […]

Egypt Turkey trade container ship Suez canal

Shipping industry calls for ‘fair access’ to clean fuel

Access to clean fuel is the biggest obstacle to the global shipping industry achieving its decarbonisation goals, but the Gulf region could play a key role in addressing this, according to the head of the International Chamber of Shipping (ICS).  The high-emitting shipping sector has historically burned “the kind of fuel nobody else wants” – […]

Over 100 nations agree to 5% lower emissions by 2030

A meeting of more than 100 countries on Friday agreed to an interim goal for emissions reductions from global aviation by 2030 by using less-polluting fuels, but China, Russia and some others aired concerns about the impact on their economies. The goal, which came after five days of UN-led talks in Dubai, called for five […]

Crude oil drips from a well Taqa Kurdistan oil

Fossil fuel company valuations set to take a hit

The International Energy Agency (IEA) has urged the oil and gas industry to actively participate in the fight against climate change by investing more in clean energy, despite the fact the declining demand for fossil fuels will lead company valuations to decrease by up to 60 percent. The IEA predicts that global demand for oil […]

Fire, Forest Fire, Outdoors

Brazil plans mega fund to conserve forests at Cop28  

Brazil plans to propose a “huge” fund to pay for the conservation of tropical forests at the United Nations Cop28 climate change summit, which begins later this month in Dubai, the country’s top climate negotiator said on Thursday. That fund, not previously reported, would be the latest in a proliferation of multilateral environmental funds. Countries […]

Drake & Scull's trading ceased in November 2018 when the company disclosed losses exceeded 75 percent of its capital

DFM to launch pilot for trading carbon credits

Dubai Financial Market (DFM), the operator of the Dubai stock exchange, will launch a pilot programme for trading carbon credits during Cop28. The pilot programme for institutional investors starts from December 4 to 8, 2023, with the offsetting period ending on January 10, 2024, the UAE state-run Wam news agency reported.  The inaugural pilot will see […]

Executives from Emirates, Airbus and their partners at Wednesday's test flight in Dubai

Mena’s use of green jet fuel ‘needs incentives’ to take off

On Wednesday morning, an Emirates A380 took off from Dubai International Airport and headed down the coastline. It’s a familiar route, but this was something new: one of the Airbus’s four engines was 100 percent powered by sustainable aviation fuel. The 45-minute test flight came in a week of advances for sustainable fuels, known as […]