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‧Saudi Investment Bank Sukuk Yield Set at 6.375%
Saudi Investment Bank has priced its first Additional Tier 1 (AT1) sukuk at 6.375%, marking a significant milestone in the Islamic finance sector. The deal, which was announced to global investors this week, is expected to bolster the bank's capital position and strengt…
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‧Adani Green’s Subsidiaries Appoint Banks for Green Bonds
Adani Green Energy’s subsidiaries have mandated banks for the issuance of USD-denominated green bonds, marking a significant step in the company's expansion of its sustainable financing efforts. This move follows a broader trend in the renewable energy sector, where cor…
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‧Emirates NBD leads with a sustainability-linked loan initiative
Emirates NBD, one of the largest banking groups in the Middle East, has engaged multiple banks for a five-year sustainability-linked loan. This initiative represents a significant step in aligning its financial strategies with environmental, social, and governance (ESG) pri…
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‧Saudi Arabia unveils ambitious initiatives at UNCCD COP16
Saudi Arabia is set to host the 16th session of the United Nations Convention to Combat Desertification (UNCCD COP16) in Riyadh, marking the first time this global conference is held in the Middle East. Scheduled for December 2-13, 2024, the event will convene representativ…
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‧Climate Action Must Adapt to New Realities
Global climate goals are facing an escalating challenge as the 1.5°C target, a key ambition set under the Paris Agreement, increasingly appears unattainable. Despite decades of concerted global efforts, the pace of emissions reductions has remained insufficient to halt the …
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‧Masdar strengthens renewable energy footprint with Kazakhstan wind farm deal
Masdar, the UAE’s prominent renewable energy company, has signed a landmark power purchase agreement for a 1GW wind power project in Kazakhstan's Jambyl region. This ambitious initiative aligns with both nations’ shared commitment to expanding renewable energy capacitie…
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‧Masdar and SOCAR Achieve Milestone with 760MW Solar Projects in Azerbaijan
Masdar, the Abu Dhabi-based renewable energy firm, and the State Oil Company of Azerbaijan (SOCAR) have finalized financing for their solar ventures in Azerbaijan, marking a significant step in the region’s transition to renewable energy. The projects, totaling a combined c…
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‧Global Glacier Retreat Accelerates, New Study Highlights Urgency
The pace at which glaciers are retreating across the globe has quickened, according to a new study that underscores the alarming consequences of climate change. The research, conducted by a group of international scientists, reveals a significant uptick in the speed of ice …
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‧Saudi Arabia Deepens Green Energy Ties with Central Asia at COP29
Saudi Arabia has further solidified its leadership in global green energy initiatives by signing a groundbreaking pact with Central Asian nations at COP29, amplifying efforts to address climate challenges and push for a greener future. This move, which underscores Riyadh…
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‧Climate Finance Takes Center Stage at COP29
As COP29 convenes in the United Arab Emirates, the growing urgency surrounding climate finance has emerged as one of the central themes of discussions. With world leaders absent from the talks, the focus has shifted to the pressing need for increased financial commitments t…
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‧Masdar to Build 1GW Wind Farm in Uzbekistan
Masdar, the clean energy powerhouse based in the United Arab Emirates, has announced plans to develop a 1GW wind farm in the Mingbulak region of Uzbekistan. This significant renewable energy project underscores Masdar's ongoing expansion in Central Asia, positioning the…
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‧Masdar Eyes Gigawatt-Scale Projects in Albania
Masdar, a prominent UAE-based energy developer, has embarked on exploring the potential for large-scale renewable energy projects in Albania, as part of its broader strategy to expand its global footprint in the clean energy sector. The company, known for its vast experienc…
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‧Rhodolith Beds Face Growing Threat from Ocean Climate Change
Rhodolith beds, critical marine ecosystems formed by free-living coralline algae, are increasingly vulnerable to the accelerating impacts of ocean climate change. These habitats, often referred to as "marine rainforests," are vital for supporting marine biodiversi…
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‧Masdar Reaches Key Milestone in Kazakhstan Wind Farm Project
Abu Dhabi-based renewable energy giant Masdar has announced a significant milestone in its efforts to expand global clean energy projects, with its 1-gigawatt (GW) wind farm in Kazakhstan nearing its final stages of development. This marks a crucial step in the Middle Easte…
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‧Fertiglobe CEO Optimistic on Tax Credit Approval for Texas Hydrogen Initiative
Fertiglobe, a major player in the global fertilizer industry, remains confident about securing tax credits for its ambitious hydrogen project in Texas, despite potential regulatory challenges that could arise with the re-election of former President Donald Trump. As one of …
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‧Global Urban Green Spaces Face Unchecked Decline
The world's cities are witnessing a concerning and sustained reduction in green spaces, a trend documented in recent studies and environmental reports that highlight a variety of contributing factors, from rapid urbanization to climate impacts. As metropolises expand an…
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‧Avaada Explores Green Hydrogen Project in UAE
Avaada, a renewable energy firm backed by Brookfield, is making strides toward entering the green hydrogen sector with a major project in the UAE. The company, which has already established a significant footprint in solar energy, has announced plans to invest in green hydr…
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‧Dubai unveils first net-positive mosque in Middle East
Dubai has launched the Middle East's first net-positive mosque, a pioneering structure at the crossroads of spirituality and sustainability. With its energy-efficient design, the eco-friendly mosque generates more energy than it consumes, marking a significant step in D…
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‧Dubai Surpasses Regional Peers in 2024 Global City Index
Dubai has secured the top position among Middle Eastern and North African cities in the 2024 Global City Index, outperforming other regional hubs in several key metrics including economic activity, global connectivity, and infrastructure. The ranking highlights Dubai's …
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‧Masdar, Sarawak Energy, and Gentari to Assess Floating Solar Feasibility in Malaysia
Masdar, Sarawak Energy, and Gentari have joined forces to explore the feasibility of a large-scale floating solar energy project in Malaysia. The initiative, part of broader efforts to advance renewable energy in the region, seeks to harness Malaysia's vast water bodies…
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‧EDGE Group and Fincantieri Collaborate on Advanced Underwater Technologies
EDGE Group, a key player in the UAE’s defense and advanced technology sector, has entered into a strategic partnership with Italian shipbuilding giant Fincantieri to develop next-generation underwater solutions. This collaboration, announced in a series of formal statements…
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‧AI and Low-Carbon Projects to Shape Future Partnerships
ADNOC, Masdar, and Microsoft are joining forces to spearhead initiatives that fuse artificial intelligence with low-carbon technology, aiming to accelerate the energy sector's transition to a more sustainable and efficient future. The collaboration among the three compa…
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‧Saudi Arabia Calls for Urgent Global Action at COP16 as Land Degradation Reaches Crisis Levels
Saudi Arabia, as host of the 16th United Nations Convention to Combat Desertification (UNCCD) Conference of the Parties (COP16), is intensifying its call for comprehensive global efforts to address the escalating crises of land degradation, desertification, and drought. Wit…
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‧AI Technology Fuels Decarbonization and Energy Efficiency
Top executives across various industries have expressed strong optimism about the role of artificial intelligence (AI) in driving decarbonization efforts and enhancing energy efficiency. As the world grapples with climate change and strives to meet net-zero goals, AI's …