Good morning, friends. We have a compact issue for you this morning with some big news emerging from the UAE and advancements in EV battery tech, but first…

A quick programming note: Enterprise Climate will be taking a publication holiday tomorrow and be back in your inboxes at our regularly scheduled time on Monday morning.

THE BIG CLIMATE STORY- UAE aluminum producer Emirates Global Aluminium started construction on the UAE's largest aluminum recycling plant. The facility will process around 170k tons of aluminum scraps annually into low-carbon aluminum billets to supply local and global markets.

^^ We have the details on this story and more in the news well, below.

THE BIG CLIMATE STORY OUTSIDE THE REGION- EUR bns heading to the African green energy market: The German government says it will invest EUR 4 bn toward supporting Africa’s green energy sector between now and 2030 in a bid to source some of the clean energy it needs and meet its climate action targets. We have the details on this story in Climate Diplomacy below.

The story made headlines in the international press:Reuters | AP News | Washington Post | Bloomberg | ABC News

OVER AT COPLAND- France + US will push for an end to financing coal-fired plants: With a backing from the US, France plans to propose a halt to private financing for coal-based power plants at COP28, Reuters reports, citing three sources familiar with the negotiations. The proposition was communicated to India earlier this month, the newswire said, adding that it is expected to “deepen divisions” at the UN climate summit given India and China’s pro-coal stance. The “New Coal Exclusion Policy” put forth by France suggests that the Organisation for Economic Co-operation and Development (OECD) set “coal-exit standards for private finance firms whose financing could be tracked by regulators, rating agencies and non-governmental organizations,” the two Indian officials that spoke to Reuters said.

China + India continue to invest big in heavy-emitting coal: “Some 490 GW of new coal capacity, roughly equal to one-fifth of existing global capacity, is planned or under construction, mostly in India and China,” the officials said.

REMEMBER- The coal fight has been ongoing for some time: 60 countries are on board with a phase down coal by 2030, according to a draft pledge seen by Reuters last week. The energy plans of the fossil fuel producers would lead to a de facto increase in coal production by 460%. A G7 ministerial meeting on climate policy in April failed to agree on a deadline for phasing out coal. The International Energy Agency said in September that global demand for fossil fuels, including coal is likely to peak by 2030, which Saudi Aramco pushed back against, claiming that demand will remain strong.

ALSO- The US intends to lay out a strategy for fusion power commercialization: Following the US’s second breakthrough on achieving net energy gain from nuclear fusion reaction experiments, the country will continue to explore pathways to commercializing the tech at COP28, according to a statement. “I will have much more to say on the US’ vision for international partnerships for an inclusive fusion energy future at COP28, during an event on December 5,” US Special Envoy for Climate John Kerry said during a tour of a US-based fusion factory with Eni CEO Claudio Descalzi. Eni has four different nuclear fusion research projects under development both in Italy and the US, Reuters notes.

The road is long and costly though: Energy companies looking to set up nuclear fusion power plants will need to invest approximately USD 7 bn to realize their targets. Scientists and researchers have cautioned that it will likely be decades before the technology is commercially viable — if ever. The total addressable market for fusion stands at some USD 1 tn annually as of 2022.

WATCH THIS SPACE #1- UAE launches SAF research initiative: A consortium of UAE entities has launched a research initiative — called Air-Craft — to develop, produce, and scale sustainable aviation fuel (SAF) technologies, according to a statement. The initiative’s founding partners — Adnoc, Masdar, Boeing, Emirates, Enoc Group, Etihad, Honeywell, and Khalifa University — are currently in advanced discussions with key global players to join the consortium. The US gov't also said it supports the linking of the initiative to the intergovernmental US-UAE partnership Accelerating Clean Energy (PACE).

And just in time: SAF production currently meets less than 1% of the sector's demands, International Air Transport Association’s Gulf and Near East Area manager Khalid Al-Essawy told Wam on the sidelines of the ICAO Conference on Aviation and Alternative Fuels in Dubai. More government support and investment are needed to meet the growing demand and to achieve the aviation sector's goal of zero emissions by 2050, the path to which depends on alternative fuels by more than 65%, he added.

WATCH THIS SPACE #2- EU to launch world’s first hydrogen bank: The European Commission will inaugurate the world's first hydrogen bank this week in efforts to facilitate green hydrogen financing and increase the share of the green fuel in Europe's energy mix, Euronews reports. The bank will provide EUR 800 mn from European funds to help the industry and incentivize private investment. Amongst the projects that could see funds pumped into is a hydrogen pipeline in the North Sea that Germany and others have asked the UK to consider, as well as the underwater pipeline currently under construction between Spain and France, the news outlet adds.

It's been a long time coming: The European Commission revealed plans to invest EUR 3 bn to develop the green hydrogen market from a new hydrogen bank last year, without disclosing further details. The bloc aims to produce 10 mn tons of green hydrogen and import another 10 mn by 2030.

WATCH THIS SPACE #3- The EU + UK aren’t giving up on wind: Despite ongoing challenges in the wind sector — including rising costs of wind turbine materials, higher borrowing costs, and a supply chain crisis — the UK and EU are boosting support for new offshore wind plants through new funding packages and expediting licensing for new projects, Bloomberg writes. Some EU countries are leading the way in supporting their local wind sector, with Germany planning to simplify its permitting process of connecting wind projects to the national grid, and Poland offering government support that takes into account inflation, thus alleviating the impact of rising costs, notes Bloomberg. Poland’s initiative has already moved wind projects forward as reflected by a large volume of orders made to Denmark-based giant wind turbine manufacturer Vestas.

REMEMBER- It's been a whirlwind for the wind sector: The wind sector’s hurdles have affected the bottomline of wind energy giants like Vestas and Siemens Gamesa, on top of the latter’s reported technical issues that cost it bns. Governmental pricing for PPAs on wind energy projects in countries like the UK, where the state modeled electricity offtakes on 2012 prices this year, has also led to disastrous wind power auctions, Bloomberg adds.

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CIRCLE YOUR CALENDAR-

The UAE will host the World Green Economy Summit from Tuesday, 28 November through to Wednesday, 29 November in Dubai. The event will bring together green tech developers and policymakers to explore pathways to accelerate the transition to net-zero sources and meet the Paris-agreed 1.5 °C warming threshold.

The UAE will host the Abu Dhabi Finance Week (ADFW) from Monday, 27 November to Thursday, 30 November in Abu Dhabi. The event will gather government officials, banks, financial institutions, and VCs to delve into today’s most pressing economic, technological, and sustainability issues.

The UAE will host the Conference of the Parties (COP28) from Thursday, 30 November through to Tuesday, 12 December in Dubai. COP28 will be divided into Blue and Green zones with the former reserved for heads of states, government delegations, and UN bodies. The green zone — which will be open to the public — will serve as a central hub where developers, industry leaders, NGOs, and climate activists come together to explore pathways to accelerate the transition to clean energy. The zone will host over 300 talks tackling the climate crisis and showcase climate-focused interactive exhibits.

Oman will host its Green Hydrogen Summit from Tuesday 12, December through to Thursday, 14 December in Muscat. The two-day event will bring together green fuels developers, renewables companies, and policy makers in a bid to chart a course toward carbon-neutrality by 2050. Aside from the conference, the summit will also include masterclasses delving into the specifics of the green hydrogen value chain, from green electricity production to H2 production, distribution and storage. You can register for the event here.

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