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‧DIFC outlines roadmap to reach Net Zero by 2045
The Dubai International Financial Centre (DIFC) has unveiled its ambitious decarbonisation strategy, aiming to achieve Net Zero emissions by 2045. The strategy aligns with the UAE's national goals to reduce carbon emissions and foster sustainability within the financial…
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‧Saudi Presidency Urges Private Sector Action on Land Restoration Funding
Saudi Arabia's presidency of COP16 has spotlighted the pressing need for enhanced funding for land restoration, urging the private sector to take a leading role in addressing the critical financial shortfall. As the world confronts escalating environmental challenges, t…
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‧Global Drought Initiative Secures $12 Billion in Funding
Efforts to mitigate the escalating impact of drought across the globe received a significant boost as the Global Drought Resilience Partnership announced a substantial funding commitment of $12 billion. The initiative aims to address water scarcity and bolster the resilienc…
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‧Saudi Aramco Drives Global Emissions Reduction Efforts with CCS Hub
Saudi Aramco, the world’s leading energy firm, has unveiled plans to establish one of the largest carbon capture and storage (CCS) hubs in Jubail. The project is part of the company’s ambitious initiative to tackle carbon emissions and advance global decarbonization efforts…
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‧Global Collaboration Intensifies at COP16 to Combat Desertification
A pivotal global conference, COP16 of the UN Convention to Combat Desertification (UNCCD), has commenced in Riyadh, marking a significant step in addressing environmental degradation and climate change. This event, the largest multilateral gathering hosted by Saudi Arabia, …
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‧Climate Action Relies on Global Cooperation, Says UAE Leader
Addressing the escalating global climate crisis, His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the United Arab Emirates, emphasized that the solution to the planet’s climate challenges lies in communication and cooperation across borders. Speaking at a key su…
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‧Masdar Completes Major Stake Acquisition in TERNA ENERGY
Masdar, a global leader in renewable energy, has finalized its acquisition of a 70% stake in TERNA ENERGY SA, a prominent Greek clean energy company. This transaction, priced at €20 per share, positions TERNA ENERGY at an enterprise value of €3.2 billion, marking the most s…
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‧Gulf Cryo Partners with Aramco for Lower-Carbon Hydrogen Testing
Gulf Cryo, a prominent player in gas solutions in the Middle East, has teamed up with Saudi Aramco to advance the development and assessment of lower-carbon hydrogen technologies. The collaboration focuses on testing hydrogen solutions with an emphasis on reducing carbon em…
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‧UAE plans large-scale solar projects to meet energy needs by 2030
The UAE is accelerating its efforts to expand solar power capacity, targeting several ambitious large-scale projects to meet the growing electricity demand and ensure energy sustainability. With a strong push towards renewable energy, the UAE aims to significantly increase …
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‧NTPC Green Energy shares soar 12% on strong debut
NTPC Green Energy Limited (NGEL), a subsidiary of NTPC Ltd., made an impressive debut on stock exchanges, recording a 12% rise in its share price on the first day of trading. The shares opened at ₹102, aligning with the lower end of the IPO price band of ₹102-108, and close…
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‧Investment Strategies Need to Align with Sustainability Goals
Investment strategies must be aligned with global sustainability goals to ensure long-term growth that is both economically viable and environmentally responsible, according to James Zhan, chair of the World Investment Conference (WIC) executive board. His comments, made du…
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‧EU Eyes Stronger Green Energy Partnership with Saudi Arabia
The European Union is ramping up efforts to enhance its collaboration with Saudi Arabia in the field of green energy, seeking to bolster clean energy initiatives and investments. This push comes as part of broader EU objectives to reduce its reliance on fossil fuels, accele…
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‧ENEC and ADNOC to Pursue Nuclear Technology in Oil Sector
The Emirates Nuclear Energy Corporation (ENEC) and the Abu Dhabi National Oil Company (ADNOC) have announced a strategic partnership to explore the application of nuclear energy in the oil and gas sector. This collaboration marks a significant step toward expanding the use …
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‧Adani Group's Green Energy Ambitions Tied to U.S. Bribery Indictment
Gautam Adani, the Indian billionaire behind Adani Green Energy, is facing a significant legal challenge as U.S. authorities have charged him and two other executives in connection with a sprawling bribery scheme tied to the company’s massive renewable energy projects. On No…
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‧Bahrain Mall Advances Net Zero Goals with Solar Plant Partnership
A prominent shopping center in Bahrain has joined forces with Yellow Door Energy to launch a 4.7 MWp solar power plant, marking a significant step in the kingdom's efforts to achieve net-zero carbon emissions by 2060. The new solar plant, which will supply clean energy …
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‧Climate Action Insufficient, Thai Minister Urges COP29 to Act
A leading Thai official has underscored the inadequacy of current measures to combat the rising global temperature, emphasizing the need for urgent action at the ongoing UN climate change conference in Baku. Chalermchai Sri-on, Thailand's Minister of Natural Resources a…
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‧Saudi Arabia to Launch UN Forum on Desertification with Green Zone
Saudi Arabia is set to host a groundbreaking United Nations forum focused on combatting desertification, marking a significant step in the global fight against land degradation. This event, which will be held under the Kingdom's presidency of the UN Convention to Combat…
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‧Global Push for Climate Finance Takes Center Stage at COP29
The urgency of addressing climate finance dominated discussions at COP29 in Baku, Azerbaijan, as leaders from across the globe convened to tackle the escalating impacts of climate change. With rising temperatures already affecting vulnerable populations disproportionately, …
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‧Masdar Joins Forces with China’s Silk Road Fund for Green Energy Investment
Masdar, the UAE’s leading renewable energy company, has forged a strategic partnership with China’s Silk Road Fund to advance a series of renewable energy projects. This collaboration is expected to boost global efforts in sustainable energy development, with a particular f…
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‧Saudi Aramco CFO Forced Off Stage During US Climate Forum
Climate activists disrupted a prominent event featuring Saudi Aramco's Chief Financial Officer in the United States, underscoring mounting tensions over fossil fuels at a critical time for energy policy and environmental advocacy. During the talk, protesters interrupted…
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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…