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Cop28

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

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 […]

Expo City

Expo City Dubai set to be powered by renewables

Expo City Dubai, which will host the Cop28 summit shortly, will eventually be fully powered by renewables, as the UAE moves to achieve net-zero emissions by 2050. Expanding on Expo City’s current on-site renewable energy capacity, Dewa, the Dubai Electricity and Water Authority, will permanently provide solar energy to the entire Expo City site through […]

Adnoc and Santos are working together on net zero projects

Adnoc and Santos link up to work on net zero goals

Abu Dhabi oil major Adnoc and Australia’s Santos have signed an agreement to develop a joint global carbon management platform aimed at decarbonising markets in the Asia-Pacific region. The companies will also work together on carbon capture and storage (CCS) technologies.  In addition, Adnoc and Santos will jointly explore the development of a carbon dioxide shipping […]

60% of GCC consumers are concerned about sustainability, but only 12% of companies have set a net zero target

Shoppers ‘will pay premium for sustainable products’

Consumers are willing to pay more to be sustainable, a study has found, even as most businesses remain far from meeting their environmental goals.  A survey of 23,000 global consumers by management consultancy Bain & Company found that 64 percent of respondents reported high levels of concern about the environment. Most said their worries had […]

The Burj al Arab, Dubai, in three of its colour phases: the Cop28 occupancy boost for UAE hotels means the city will be close to full capacity

Cop28 brings big boost in occupancy for UAE hotels

Hotels in the UAE are expected to see double-digit growth in occupancy rates over the next month as they prepare to welcome tens of thousands of Cop28 attendees. More than 70,000 participants, including world leaders, non-government organisations, private sector representatives, indigenous peoples and young people are scheduled to attend the 28th annual iteration of the […]