COP16 kicks off in Riyadh with a USD 2 bn pledge to help drought-hit countries

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WHAT WE’RE TRACKING TODAY

TODAY: COP16 kicks off in Riyadh with a USD 2 bn pledge to combat drought

Good morning, friends. There’s no mid-week slump in the news cycle as the COP16 UN Convention to Combat Desertification (UNCCD) rolls into Riyadh. This is the first UNCCD summit to be held in the MENA region, so we expect Saudi will roll out the green carpet and offer up lots of progress. First, a big W for environmental groups…

THE BIG CLIMATE STORY OUTSIDE THE REGION- Norway puts deep-sea mining plans on ice: Norway halted plans for a first licensing round in H1 2025 for deep-sea mining set to include 386 exploration blocks in the Arctic sea bed. The government caved to pressure from a small, minority leftwing party whose approval for the government’s budget plan was needed. Plans may not be completely scrapped, with the move described as a “postponement” until the next parliamentary term in 2026 by Norwegian Prime Minister Jonas Gahr Støre. Environmental groups celebrated the move as a major win, blasting the government’s support of ocean mining as “truly embarrassing” given its proclaimed support for the environment.

Market reax- Shares in Norwegian sea bed mining startup Green Minerals plummeted 36% after the government canceled the plans. The company’s timeline for exploration — which targets extracting its first ore by 2030 — will not be altered despite the change in plan, according to a company statement.

REMEMBER- Deep sea mining is controversial: The growing mining industry aims to extract critical minerals essential to EV battery production, including cobalt, copper, nickel, and manganese, but scientists say oceanic mining comes with a substantial impact on the environment, such as the destruction of natural habitats and undermining the ocean’s ability to capture and sequester CO2. A number of countries, including France and the UK, have called to halt the practice until there is more information on the environmental impact

WATCH THIS SPACE-

#1- More regional investments from Green Coast? Dubai-based conglomerate Green Coast plans to invest USD 200 mn in Saudi’s renewable energy sector over five years, CEO Mohamed Abdulghaffar Hussein told Asharq Business. The company also said its mulling a USD 50 mn renewables and infrastructure investment push in Egypt over the next three years earlier this week.

#2- Egypt is exploring the possibility of exporting electricity to Syria through its interconnection link with Jordan, Egypt’s Electricity Minister Mahmoud Esmat told Asharq Business. The plan hinges on stabilizing the security situation in the country and Egypt’s electricity production vs consumption. An unconfirmed report citing a government official earlier this week pencilled in either 2029 or 2030 as when the country will finally be able to close the gap between domestic production and consumption.

ALSO- BP to invest in Egypt’s renewable energy sector? BP CEO Murray Auchincloss signaled the company’s intent to invest in Egypt’s renewables sector and expand its existing hydrocarbon interests in the county in a meeting with President Abdel Fattah El Sisi and Oil Minister Karim Badawy.

#2- UK pledges GBP 1.98 bn in climate finance: The UK is increasing its climate finance contribution to the World Bank (WB) by 40%, pledging GBP 1.98 bn over the next three years, The Guardian reports. The move — revealed ahead of a meeting of the WB-member International Development Association (IDA) in Seoul — aims to enhance climate finance for low-income countries. "Leaders of low-income countries around the world called for stronger IDA contributions and we listened.” said the UK's Development Minister Anneliese Dodds. The move was welcomed by the Green Climate Fund and UK-based climate campaigners. The announcement follows the contentious Cop29 UN climate summit that saw developed nations agree to provide an underwhelming USD 300 bn of the USD 1.3 tn needed annually to combat climate change in developing countries by 2035.

#3- Namibia holds up green bonds sale due to delayed EU support initiative: Namibia is pushing back plans to sell green bonds to fund renewable energy and hydrogen projects due to the EU delaying the financial close of its Global Green Bond Initiative (GGBI), Bloomberg reports, citing an email response from Finance Minister Iipumbu Shiimi. The delay in EU’s GGBI — an initiative that supports EU partners in developing green bond markets by providing technical support and de-risking investments — has undermined the “technical support and capacity-building processes” that the Namibian government was banking on to “enhance readiness for larger-scale issuances,” the minister told Bloomberg. The country’s Environmental Investment Fund plans to set up a green bonds office and list the green debt on the Namibian and Johannesburg stock exchanges, but the specific targeted amount it has planned to raise has not yet been finalized.

Namibia is positioning itself as a global green hydrogen leader: Namibia is expected to provide Europe with 750k tons of green fuel annually, and Europe’s second largest port Antwerp Bruges plans to develop a EUR 250 mn hydrogen and ammonia storage and export facility in Namibia’s Port of Walvis Bay. The facility will store and ship hydrogen and ammonia from companies to refuel passing ships and be used for heavy industry operations in Belgium, Germany, and other European countries. In March, Germany said it would provide more financial support for Namibia’s USD 10 bn green hydrogen project Hyphen.

THE SCORECARD-

The steel industry is falling behind on energy transition: The world’s biggest steelmakers relied on fossil fuels for 99% of their energy between 2022 and 2023 despite the availability of alternative technology, such as electric arc furnaces (EAFs) or green hydrogen, Reuters reports, citing a report (pdf) by Sydney-based climate group Action Speaks Louder (ASL). While EAFs accounted for 28.6% of global steel production in 2022, green hydrogen-based production remained at zero percent.

Why it matters: The “hard to abate” sector accounts for 7% of global carbon dioxide emissions, with affordability standing in the way of its decarbonization, says ASL strategy director and survey author Laura Kelly. To achieve net zero emissions by 2050, the International Energy Agency says that at least 44% of the world’s steel production needs to come from green hydrogen and EAFs, and recycled scrap metals must account for 48% of the production’s input.

About the study: The ASL survey looked at the renewables adoption rate in 18 producers from major steel-producing countries and regions, picking the top 3 players in China, the EU, India, Japan, the US, and South Korea. Five failed to have adequate energy information to begin with, and seven did not disclose electricity use figures. To address this information availability gap, the ASL looked at data from BNEF Corporate Power Purchase Agreements.

How did the companies fare: Overall, South Korea’s Hyundai Steel and Dongkuk Steel ranked last with zero renewables use, while Nordic steel company SSAB took the lead, with renewables representing 19% of its energy use. The US-based Cleveland-Cliffs came as a distant second with 2.9%.

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CIRCLE YOUR CALENDAR-

UAE will host the International Mangrove Conservation and Restoration Conference from Tuesday, 10 December to Thursday, 12 December in Abu Dhabi. The conference — happening in parallel to Riyadh’s COP16 on desertification — will gather global scientists and conservation experts dedicated to mangrove and coastal ecosystem restoration, seeking to share research, innovative approaches, and best practices for holistic restoration, including habitat diversity, connectivity, and climate resilience.

The UAE will host the World Energy Summit from Tuesday, 14 January to Thursday, 16 January in Abu Dhabi. The summit will host over 350 speakers including energy industry leaders and policymakers with discussions ranging from eco-waste to sustainable cities. An exhibition will also be held for showcasing green products.

Saudi Arabia will host the Future Minerals Forum from Tuesday, 14 January to Thursday, 16 January in Riyadh. The forum will gather stakeholders from over 170 countries to discuss mineral technology and exploration. Speakers will include senior government officials and CEOs from renowned mining companies Vale, Rio Tinto, and Manara.

Bahrain will host the Sustainability Forum Middle East from Tuesday, 28 January to Wednesday, 29 January in Manama. Climate experts and decision-makers will convene to discuss a number of issues ranging from decarbonization to supporting SMEs on their path to net zero. Speakers will include GCC government officials and industry leaders from the banking and industrial sectors.

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

COP16 kicks off in Riyadh with a USD 2 bn pledge to help drought-hit countries

Big pledges at COP16 in KSA: The Islamic Development Bank and the Opec Fund for International Development have each pledged USD 1 bn to the newly launched Riyadh Global Drought Resilience Partnership to support drought-hit countries at the COP16 UN Convention to Combat Desertification (UNCCD) summit in Riyadh, according to media reports here and here. Saudi Arabia has pledged USD 150 mn over the next 10 years, Saudi Minister of Environment, Water and Agriculture and COP16 President Abdulrahman Abdulmohsen Al-Fadhley said on the sidelines of the summit.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

Let’s back up a bit: UNCCD is less well-known than its counterparts on climate change and biodiversity, which were also conceived during the 1992 Rio Earth Summit with the signing of UNCCD (pdf), the United Nations Framework Convention on Climate Change (UNFCCC), and the Convention on Biological Diversity (CBD).

What’s the goal? COP16 hopes to mobilize action and investment for land restoration and drought resilience, with planned discussions of issues including land and drought resilience, sustainable farming practices, crop resilience, land governance, and scientific and tech-based solutions to the crisis of desertification. You can find the full agenda here (pdf).

SOUND SMART- Desertification is a human activities-linked land degradation process in which vegetation in drylands decreases and eventually disappears. The phenomenon specifically references non-desert ecosystems losing vegetation and becoming desert-like rather than the expansion of existing deserts. It can be caused by deforestation, overexploitation of natural resources like water, soil, and vegetation, and harmful agricultural practices. Extreme weather patterns, which are exacerbated by human activity, also contribute to the problem through increased droughts, hurricanes, and fires.

Financing will be in the spotlight: To meet the summit’s targets, an estimated USD 355 bn is needed annually between 2025 and 2030 — or a total cumulative investment of at least USD 2.1 bn, according to a financial needs assessment (FNA) (pdf) commissioned by COP15. However, this figure is far below the current investments, which grew from USD 37 bn in 2016 to USD 66 bn by 2022. 72% of these investments came from domestic sources, while 22% came from bilateral and multilateral sources, and only 6% came from the private sector. Under current projections, investments would grow to only USD 77 bn between 2025 and 2030, leaving a USD 278 mn funding gap. The assessment covered 139 countries out of the 196 member nations of the UNCCD.

Africa is in most need: Africa is facing the largest funding gap of USD 191 bn per year, having made ambitious land restoration commitments such as pledging to restore over 600 mn hectares of land. Africa also had a larger number of countries assessed in the FNA.

Have previous summits been fruitful? Up until now, UNCCD is the only convention from Rio’s climate triplet treaties that has not established a solid set of well-defined action and finance targets. For example, a key goal of the UNCCD is working to achieve Land Degradation Neutrality (LDN), yet concrete action and timeline are lacking. But at COP15 in Abidjan, 38 the countries agreed to commit to ramping up efforts to restore one bn hectares of degraded land by 2030.

SOUND SMART- What is LDN? LDN aims to reverse land degradation by maintaining existing healthy land, reducing existing degradation through sustainable practices, and restoring degraded land.

Why is all this critical? Over 24 bn tons of fertile soil disappear yearly, according to the UN, and about two-thirds of the Earth is already experiencing desertification. At the moment, almost 15 mn sq km of land is already degraded, which is an area the size of Antarctica, The Guardian reports. If not mitigated, the world could lose 1.5 mn sq km of agricultural land — an area the size of India’s arable land — by 2050, according to Iberdrola. The area of degraded land is set to expand at the rate of 1m sqkm per year, the news outlet added.

The economic costs are immense: The challenges of land degradation, desertification, and drought cost the global economy an estimated loss of USD 10 tn annually, according to the UN.

That’s not all: Land ecosystems typically absorbed almost a third of human-induced carbon dioxide pollution until recently, but due to deforestation and climate change, that capacity has shrunk by 20%, according to a report (pdf) by the Potsdam Institute for Climate Impact Research. The drop in absorption is mainly due to unsustainable agricultural practices, which is alone responsible for about 80% of forest loss. If this trend is not reversed in time, land could become a net source of emissions, the report warns.

MENA is one of the regions vulnerable to desertification trends: MENA is especially vulnerable to climate change, and particularly to desertification and aridity due to severe water shortages and frequent sandstorms, according to the Carnegie Endowment for International Peace. In turn, food insecurity is expected to increase through lower rainfall, higher temperatures, shorter growing periods, drier soil and decreased crop yields, and reduced drinking water for livestock. MENA is the most water-stressed region in the world and is home to 12 of the world’s 17 most water-stressed countries, ABC reported, citing World Bank data. Water scarcity is expected to cost MENA countries 6-14% of their GDP by 2050.

Tunisia approves 2025 finance bill, includes support for green sector

Tunisia’s parliament has approved the Finance Bill 2025 (pdf) which includes proposals on green funding and EV and solar panel taxes, according to a statement (watch, run time: 05:34). Here’s what we know so far about the green sector portions of the bill.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

#1- EV-related taxes: The bill maintains previously passed reduced tax rates and fees on EVs, while extending some of the incentives to hybrid vehicles. It maintains a 2022 exemption of customs duty on EVs, a 2023 reduced value-added tax rate of 7%, and a 50% reduction in registration fees. Meanwhile, it also proposes removing the consumption tax imposed on hybrids similar to EVs, as well as reducing the value-added tax from 19% to the lowest possible tax of 7%, similar to EVs. It also proposes extending the reduced customs duty of 10% on EV chargers and the value-added tax rate of 7% until December 2027.

Tunisia has two taxes on consumption: The country alleviates two main indirect taxes on consumption, namely the VAT and the consumption tax. They are applied through single rates, and are dubbed as “regressive tax” in a report (pdf) by the German international thinktank Friedrich-Ebert-Stiftung. Combined together, these taxes raised 37.7% of the country’s tax revenues.

EV uptake in the Tunisian market has been very slow due to infrastructure limitations, Independent Arabia reported in September. The country is yet to expand its charging stations, which currently stand at around 100 charging points, according to government data cited by Independent Arabia.

What is the government doing about it? A new law regulating EV charging as a utility is currently being prepared by the government, Independent Arabia reports citing the energy transition secretary at the Ministry of Industry and Energy Wael Chouchane. The law will open the door for private providers to sell charging services, a first in the country that currently limits electricity sales to government entities.

#2- Solar panel taxes: The new bill proposes extending the current 10% customs duty rate imposed on solar panel imports in Tunisia since 2022, which was set for an increase to 30% starting in 2025 after law changes this year. The bill cites local companies' inability to meet market demands in terms of both quantity and quality, and the need to keep the cost of electricity production down, which is borne by the state.

#3- Support for green + blue companies: The bill proposes expanding the scope of the Pollution Control Fund to include a new TND 20 mn financing line for investments in the green, blue, and circular economy projects. The line would focus primarily on medium and long-term loans, with favorable conditions for entrepreneurs and companies. The management of the fund is to be entrusted to banks through agreements with the Ministry of Finance and the Ministry of Environment, which will determine terms and procedures.

About the fund: The fund contributes to financing operations aimed at reducing pollution, particularly those related to the collection and recycling of plastic waste, financing public waste management systems, and covering the operational expenses of the National Waste Management Agency. It also contributes to the costs of household waste treatment, and the fixed and operational costs related to the treatment of industrial and special waste.

Aramco finalizes acquiring a minority stake in Horse Powertrain

Aramco finalized its purchase of a 10% stake in London-based HorsePowertrain — a JV between French carmaker Renault and China’s Geely — following the signing of definitive agreements back in June, according to a joint press release. Aramco had initially pursued a 20% stake in the powertrain technology venture under a preliminary agreement with Renault and Geely last year.

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The agreement values Horse Powertrain at EUR 7.4 bn, implying a transaction value of EUR 740 mn. The agreement will see Renault and Geely each retain a 45% stake. Aramco Senior Vice President of Technology Oversight & Coordination Ali Al Meshari (Linkedin) will have a seat on the board, while the other owners will have three seats each.

Where’s the money going? “Aramco’s investment is expected to accelerate Horse Powertrain’s efforts to develop next‑generation ICE (internal combustion engine) and hybrid powertrains, along with complementary technologies like alternative fuel and hydrogen solutions. As part of the transaction, Aramco and affiliate Valvoline Global Operations will collaborate with Horse Powertrain on innovations in ICE technology, fuels, and lubricants,” according to the press release.

About Horse Powertrain: The London-based JV was set up to manufacture next-generation powertrain solutions, including internal combustion engines that use alternative fuels such as ethanol, methanol, and hydrogen, as well as full hybrids and long-range plug-in hybrids, according to its website. It currently operates 17 global plants and five R&D centers with 10 industrial customers in 130 countries, according to the release. It expects to produce some 5 mn powertrain units annually.

UAE inks agreement with the Philippines on energy transition

the works

UAE + Philippines partner on energy transition: The Philippines and the UAE have signed an MoU to cooperate on energy transition, according to a press release. The agreement outlines collaboration in renewable energy, nuclear energy, energy efficiency, and alternative fuels, among other things.

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What’s next? An Implementation Agreement with a UAE state-owned company is currently in

the works, with an anticipated signing date next January.

REMEMBER- Saudi Arabia and the Philippines inked an agreement to enhance cooperation in the energy sector in October, with a focus on renewable energy and energy efficiency. The agreement also includes collaboration in carbon capture and circular economy technologies aimed at reducing climate change impacts.

Cemex inks agreement for its third waste-to-energy project.

Cemex to manage and operate waste WtE facility in Minya: Cemex signed an agreement with Egypt’s Minya Governorate for the management and operation of a EGP 90 mn waste-to-energy (WtE) facility in Tuna El Gabal in Minya, according to a statement. The plant is part of a EGP 278 mn initiative in Minya for waste recycling.

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The details: The facility will have a recycling capacity of 20 tonnes per hour, and 320 tonnes per day. The waste will be treated to produce alternative fuel and organic fertilizer, with the rejected waste being disposed of in landfills in the governorate.

This isn’t Cemex’s only WtE projects in the pipeline: Cemex took steps to establish its first waste conversion facility in Gharbia Governorate back in May, with the company signing a partnership agreement to manage and operate a non-hazardous waste recycling and processing plant in El Mahalla El Kubra. More recently, the company inked an agreement with Assiut Governorate for a WtE facility with a monthly processing capacity of 7k tons of waste in September.

India to launch first offshore minerals auction

India is set to announce its first auction of offshore minerals worth USD 17.8 bn, a government source involved in the process told Reuters. Initially, 13 blocks will be auctioned, including three for construction sand and three for lime mud. Seven of the blocks contain polymetallic nodules and are yet to be priced, the source added.

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What are polymetallic nodules? These nodules — also known as manganese nodules — are only found at seafloors and usually contain multiple metals, including four essential battery metals: cobalt, nickel, copper, and manganese.

Exploiting them could be risky: Some conservationists are warning about the repercussions of tapping into this mineral wealth as recent research reveals their critical importance for the production of Oxygen in deep waters, which is critical for the ecosystem balance sustaining deep-sea species.

UK’s wind sector has a GBP 1 bn waste problem: The UK is facing mounting costs from its overwhelmed electricity grid, spending over GBP 1 bn in "congestion costs" this year alone as its grid struggles to absorb the massive expansion capacity from its wind projects, Bloomberg reports. The grid's inability to cope has forced the government to pay wind farms to shut down even during favorable weather conditions, unnecessarily raising costs for consumers.

A poor grid has consequences: The grid's expansion hasn't kept pace with the UK's offshore wind expansion — which grew by 50% in the last five years — leading to frequent shutdowns of wind farms, especially in Scotland, Bloomberg adds. “The outdated rules of our energy system mean vast amounts of cheap green power go to waste," Octopus Energy Group external affairs director Clem Cowton said.

Norway might show the world what an all-EV car market looks like

Norway is on track to establish the world’s first fully electric car market due to valiant efforts to encourage EV purchases, Bloomberg reports. The EV uptake happened so quickly, only picking up over the last few years. Today, one of every four cars on the road in the country is either electric or hybrid, and last October, EVs accounted for 94% of new car sales in the country, a rate double that of China and way ahead of the rest of Europe.

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How are they doing it? The country’s accumulated oil wealth and successive governments with stable policy support to the sector played a key role. Policy support included eliminating value-added tax, allowing bus lane access, cheaper parking, and not charging EV drivers for ferries or tolls. Fuel stations have been replacing pumps with EV chargers, and a large variety of electric vehicles — around 160 models — has been made available to accommodate different preferences. Businesses also had to get on board or be left behind, fueling stations had to rethink their business models and repair shops have had to invest in high-voltage facilities.

Infrastructure was key: Norway’s grid operator had to expand networks’ capacity to accommodate the increasing electricity demand and build new transformers and stations in remote areas. Private sector players also supported the transition. For example, the convenience store chain Circle K — which owns hundreds of fuel stations across the country — made significant investments in charging infrastructure, adding over 1k charging stations, including the USD 140k fast chargers. At the moment, the country has over 29k public chargers, with an EV charger density of 1 for every 100 cars, way ahead of the UK’s average of 175 cars, for example.

Which countries may be next in line? 31 countries have reached their transition “tipping point” — identified as a point in which 5% of all car sales are electric, according to a Bloomberg Green analysis of 2023 data. On top of the list after Norway are four Scandinavian neighboring countries, Netherlands, Ireland, Belgium, Portugal, Switzerland, and China. From our region, only Turkey made it to the list after hitting the 5% mark in 3Q of 2023, and jumping to 12% in 4Q of the same year. Norway was the first country to hit that tipping point as early as 2013. Iceland was the second country to hit that threshold in 2019, six years after Norway.

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Why 5%? According to the analysis, hitting the 5% mark usually means that EV sales could jump to 25% in less than four years. It indicates that a market has entered “mainstream acceptance” and overcome early adoption barriers, such as cost and insufficient infrastructure. “More EVs popping up means more people seeing them as mainstream, automakers more willing to invest in the market, and the charging infrastructure expanding on a good trajectory,” says BloombergNEF EV analyst Corey Cantor.

CALENDAR

DECEMBER 2024

2-13 December (Monday-Friday): Conference of the Parties (COP16) to the United Nation Convention to Combat Desertification, Riyadh, Saudi Arabia.

3-4 December (Tuesday-Wednesday): MSGBC Oil, Gas & Power 2024 conference, Dakar, Senegal.

3-5 December (Tuesday-Thursday): World Energy Storage Conference, Doha, Qatar.

4-6 December (Wednesday-Friday): International Conference on Smart Power & Internet Energy Systems, Abu Dhabi, UAE.

10-12 December (Tuesday to Thursday): International Mangrove Conservation and Restoration Conference, Abu Dhabi, UAE.

16-18 December (Monday-Wednesday): Saudi Arabia Smart Grid Conference, Riyadh, Saudi Arabia.

22-24 December (Sunday-Tuesday): Renewable & Sustainable Energies And Green Processes Conference, Sousse, Tunisia.

JANUARY 2025

12-15 January (Sunday-Wednesday): World Renewable Energy Congress, Manama, Bahrain.

14-16 January (Tuesday-Thursday): World Energy Summit, Abu Dhabi, UAE.

14-16 January (Wednesday-Thursday): Future Minerals Forum, Riyadh, Saudi Arabia.

18-19 January (Saturday-Sunday): Libya Energy & Economic Summit, Tripoli, Libya.

28-29 January (Tuesday-Wednesday): Sustainability Forum Middle East, Manama, Bahrain.

FEBRUARY

17-19 February (Monday-Wednesday): Egypt Energy Show, Cairo, Egypt.

23-25 February (Sunday- Tuesday): Global Water Energy and Climate Change Congress, Manama, Bahrain.

24-26 February (Monday-Wednesday): Connecting Hydrogen MENA, Dubai, UAE.

24-27 February (Monday-Thursday): Oman Climate Week, Muscat, Oman.

APRIL

7-9 April (Monday-Wednesday): Middle East Energy, Dubai, UAE.

14-15 April (Monday-Tuesday): Istanbul Carbon Summit, Istanbul, Turkey.

21-23 April (Monday-Wednesday): Electric Vehicle Innovation Summit (EVIS), Abu Dhabi, UAE.

MAY

7-9 May (Wednesday-Friday): International Renewable Energy Conference (IRENEC), Istanbul, Turkey.

JUNE

17-20 June (Tuesday-Friday): Mediterranean Water, Irrigation and Photovoltaic Exhibition, Tunisia.

EVENTS WITH NO SET DATE

2024

End-2024: Emirati Masdar’s 500 MW wind farm in Uzbekistan to begin commercial operations.

QatarEnergy’s industrial cities solar power project will start electricity production.

November: Arab Forum for Renewable Energy and Energy Efficiency, Amman, Jordan.

2025

International Union for Conservation of Nature World Conservation Congress, Abu Dhabi, UAE.

UAE to have over 1k EV charging stations installed.

Middle East Electric Vehicle Show, Sharjah, UAE.

2026

26-29 October (Monday-Thursday): World Energy Congress, Riyadh, Saudi Arabia.

UITP Global Public Transport Summit, Dubai, UAE.

Annual Meetings of the World Bank and the International Monetary Fund, Bangkok, Thailand.

1Q 2026: QatarEnergy’s USD 1 bn blue ammonia plant to be completed.

End-2026: HSBC Bahrain to eliminate single-use PVC plastic cards.

2027

MENA’s district cooling market is expected to reach USD 15 bn.

World Water Forum, Riyadh, Saudi Arabia.

2030

UAE’s Abu Dhabi Commercial Bank (ADCB) wants to provide AED 35 bn in green financing.

UAE targets 14 GW in clean energy capacity.

Tunisia targets 30% of renewables in its energy mix.

Qatar wants to generate USD 17 bn from its circular economy, creating 9k-19k jobs.

Morocco’s Xlinks solar and wind energy project to generate 10.5 GW of energy.

2035

Qatar to capture up to 11 mn tons of CO2 annually.

2045

Qatar’s Public Works Authority’s (Ashghal) USD 1.5 bn sewage treatment facility to reach 600k cm/d capacity.

2050

Tunisia’s carbon neutrality target.

2060

Nigeria aims to achieve its net-zero emissions target.

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COP16 kicks off in Riyadh with a USD 2 bn pledge to help drought-hit countries

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COP16 kicks off in Riyadh with a USD 2 bn pledge to help drought-hit countries

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Tunisia approves 2025 finance bill, includes support for green sector

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Aramco finalizes acquiring a minority stake in Horse Powertrain

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UAE inks agreement with the Philippines on energy transition

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Cemex inks agreement for its third waste-to-energy project.

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Norway might show the world what an all-EV car market looks like

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