Good morning, ladies and gents. The news cycle shows no signs of slowing down this week with M&A news flowing in from Tunisia and further away in the great state of Texas. We also have more details trickling in from the Tunisian green hydrogen agreement bonanza that kicked off last week. Let’s jump right in.

THE BIG CLIMATE STORY OUTSIDE THE REGION- It’s a quiet news day in the international press, but deepsea mining and the controversies that follow is grabbing some ink with the election of Brazil’s former oil regulator as The International Seabed Authority (ISA)’s secretary general. Leticia Carvalho has been elected to head the UN-mandated seafloor mining regulatory body on the heels of the 36 member council drafting a mining code to regulate minerals exploration and extraction from the ocean floor. Despite some companies pushing to secure a license before 2025, Carvalho expects this process to last until next year and says no mining application should be approved before studies are complete. The ISA first began accepting permit applications from corporations looking to launch deep-sea mining projects in July 2023.

Many want to put the process on hold: There has been mounting pressure from as many as 32 states to pause seafloor mining for critical energy transition minerals until further scientific-understanding is available to inform the development of a regulatory framework, the Deep Sea Conservation Coalition told Reuters. Environmental groups have called for the mining to be banned altogether in fear of irreversible biodiversity loss. Carvalho’s campaign centered around conservation which opposed former secretary general Michael Lodge’s pro-exploration stance.

The story grabbed ink in Reuters and the Financial Times.

WATCH THIS SPACE-

#1- UAE introduces unified pricing for EV charging: The UAE has established a unified pricing structure for charging EVs nationwide, effective from September 6, Khaleej Times reported, citing a Cabinet resolution published last month. The revised fees mandate that service providers charge a minimum of AED 1.20 per kWh for express charging and AED 0.70 per kWh for slow charging, excluding VAT fees. The resolution aims to regulate and standardize the current wide variation in rates, reduce crowding around superchargers, and increase the number of charging points on highways and inside cites.

We’ve been waiting for this: A unified EV charging price was supposed to be announced before the end of last year, Undersecretary for Energy and Petroleum Affairs under the UAE’s Energy and Infrastructure Ministry Sharif Al Olama said at the time.

Part of a broader charging strategy: Earlier this year, UAEV, the first government-owned EV charging network, announced plans to install 100 charging stations, while Adnoc Distribution plans to have installed 200 fast EV chargers by the end of the year across the UAE, up from 90 currently.

#2- Egypt and the UN talk climate resilience: Egypt and the United Nations Human Settlements Programme (UN-Habitat) are looking to collaborate on a project aimed at enhancing urban development and climate resilience, according to a statement. The project will concentrate on three main areas: enhancing human capital for future city expansions, attracting investments to boost the economy, and enabling cities and rural communities to tackle climate change. The project aims to create a new framework for cities to become significant regional and national centers, starting with pilot projects in Damietta and Assiut.

#3- ABAC pushes for currency-indexed climate bonds: The Asia-Pacific EconomicCooperation's (APEC) Business Advisory Council (ABAC) — made up of a group of business executives — is urging countries in the region to issue climate bonds that are pegged to different currencies in efforts to mitigate foreign exchange risks for green financing, Reuters reports, citing comments by ABAC’s finance and investment task force head Hiroshi Nakaso. They also proposed a pilot program to develop a voluntary carbon market for the Asia-Pacific region, creating an interoperable carbon credit network that will support the energy transition.

Behind the suggestion: The proposals highlight the need for collaboration between the private and public sectors to finance the substantial costs of energy transition, Reuters adds. ABAC's recommendations, which will be presented at the APEC leaders' summit in November, include issuing 10-year bonds to help developing nations access hard currency for renewable energy projects. Asia is highly vulnerable to climate-related natural disasters and is heavily reliant on fossil fuels, making the initiative crucial for overcoming the challenges of transitioning to a net zero economy.

DANGER ZONE-

Climate change hits Saudi mangrove honey production: Eastern Saudi Arabia’s production of mangrove honey yielded 12 tons — significantly less than the expected 20 tons — due to increased temperatures and low humidity, Al Arabiya reports, citing data from the kingdom’s National Center for Vegetation Development. The changes in weather have caused flowers to dry prematurely and reduced nectar availability, impacting production, Saleh Mahdi Al-Milad, a member of the Eastern Province Beekeepers Cooperative Association, told the news outlet.

Mangroves can mitigate climate impacts: Not only do the trees produce highly nutritious honey that strengthen the immune system and act as antioxidants, but they also store ten times more carbon than other forests and serve as nurseries for fish and crustaceans, Al Arabiya writes. They also protect shores from erosion and hurricanes, and maintain water quality and ecosystem balance.

The number of trees is declining at an alarming rate: Mangrove forests are declining at a rate of three to five times faster than overall forest losses worldwide, according to UNESCO. Mangrove coverage has been cut in half within the past 40 years.

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CIRCLE YOUR CALENDAR-

The UAE will host the World ESG Summit from Tuesday, 20 August to Wednesday, 21 August in Dubai. The summit will gather experts and industry leaders to explore new ways to integrate Environmental, Social, and Governance (ESG) principles into business practices.

Turkey will host the International Conference on Clean and Green Energy Engineering from Saturday, 24 August to Monday, 26 August in Izmir. The event will gather researchers and professionals to share advances in clean energy. It will also offer a platform to discuss the latest research, practices, and applications in clean and green energy engineering.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

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