TRADE-

The UAE has launched the Trade, Sustainability and Artificial Intelligence initiative, designed to use artificial intelligence to increase global trade’s role in fighting climate change, Wam reports. Unveiled at the World Trade Organization’s Ministerial Conference in Abu Dhabi, the initiative aims to reduce shipping emissions as well as improve inventory management, freight movements, and supply chain traceability, and build climate resilient infrastructure. The initiative entails building a research network and an international coalition to propose regulations for using AI in trade.

INVESTMENT-

Adnoc named top national investor in low-carbon solutions: Adnoc ranked first on the list of national oil company investors in low-carbon solutions and was named fifth largest globally in 2023, according to Energy Intelligence ’s Low-Carbon Investment Tracker report (pdf), which reviews the low-carbon investments of 34 national and international oil companies made over the year. The report noted Adnoc’s growing investments in low-carbon projects in 2023, which amounted to over 50 projects with an estimated value of some USD 5.5 bn.

ELECTRIC VEHICLES-

Parkin to charge for EV parking: Dubai's public parking operator Parkin is looking at avenues for monetization following its IPO on the Dubai Financial Market, including by charging for EV parking, Khaleej Times reports. The company, which currently offers free limited-time parking for EVs in designated green-painted spaces, is set to introduce paid parking for EVs as part of its monetization strategy. Dewa has reported a significant rise in EV adoption in Dubai since 2015. By the end of 2023, there were 25.9k electric cars registered, up from just 14 owners who enrolled in Dewa's EV Green Charger initiative in 2015.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

  • E& partnering with Huawei on green networks: UAE’se& and Huawei will partner on deploying energy-efficient networks in the UAE to slash emissions in e&'s ICT infrastructure. (Statement)
  • QIB to offer auto finance program in Ramadan: Qatar Islamic Bank (QIB) has announced a car finance offer until the end of April at a flat rate of 2.36%. (Statement)
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