ELECTRIC VEHICLES-

Taqa Volt + Wadi Degla partner on EV stations: Taqa Volt, a subsidiary of TaqaPower, and real estate developer Wadi Degla Developments have announced a partnership to install 14 EV charging stations across Wadi Degla’s projects in Egypt, according to a statement. The agreement aims to address market research stating that 40% of EV buyers are discouraged by a lack of sufficient charging infrastructure. The charging stations will be compatible with all types of EVs, the statement said.

Taqa is upping its infrastructure game: Taqa Volt also partnered with Al-Futtaim Real Estate to install nine EV charging stations in Cairo last month.

DEBT WATCH-

UAE’sBeeah Group has secured an environmental, social, and governance (ESG) linked financing facility fromEmirates Islamic Bank, according to a press release. The facility includes a Shariah-compliant term financing and a liquidity murabaha structure based on tradable certificates.

Where the funds will go: The funding will support Beeah’s clean energy, green mobility, and waste management projects, and will also be used to invest in modern technologies for sustainability initiatives in the UAE and the GCC. Emirates Islamic will also partner with BEEAH on education and awareness initiatives for promoting sustainable practices.

SUSTAINABILITY-

UAE’s DMCC unveils sustainability hub: The UAE’s Dubai Multi Commodities Centre (DMCC) has launched a sustainability hub in a bid to promote environmental, social and governance (ESG) practices across its 24k member companies, according to a press release. The hub, which will be run in partnership with social enterprise C3, will allow companies to network, and will provide them with mentorship and access to financing through ESG-focused venture capital firms and accelerator programs. Existing DMCC members can gain membership without charge following an evaluation process.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

  • Tunisia + Italy ink environmental protection agreements: Tunisia’s National Agency for Environmental Protection (ANPE) and the Regional Environmental Protection Agency of Sicily (ARPA) have signed four framework agreements aimed at fostering environmental education in Tunisia and Sicily. The agreements focus on water quality management, biodiversity preservation, climate change mitigation, and air quality control. (TAP)
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