Multilateral development banks agree to ramp up climate finance

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WHAT WE’RE TRACKING TODAY

TODAY: Turkey reaffirms its bid to host COP31 + Shell appeals court-mandated emissions cuts

Good morning, friends. It’s another day led primarily by news coming out of COP29 in Baku, although more of the focus is on what’s happening on the sidelines of the annual climate summit. Saudi Arabia launched the Regional Voluntary Carbon Market Company’s new carbon trading platform, with the first auction taking place yesterday, while a handful of agreements and new emissions pledges came out of the summit.

THE BIG CLIMATE STORY OUTSIDE THE REGION- Shell successfully appeals court order: A Dutch appeals court overturned a 2021 ruling that mandated energy giant Shell to cut its carbon emissions by 45% by 2030. The court acknowledged Shell's duty to limit emissions but found insufficient consensus in climate science to enforce a specific reduction percentage. The decision marks a setback for environmental groups like Friends of the Earth, who had celebrated the original ruling as a major victory in the fight against climate change Despite the ruling, Shell maintains its commitment to becoming a net-zero emissions energy business by 2050.

COP WATCH-

Turkey reaffirms bid to host COP31: Turkey is a candidate to host the COP31 summit in 20126, President Recep Tayyip Erdogan said during his address at COP29 in Baku, Anadolu Ajansı reports. Erdogan underscored Turkey's commitment to climate action through initiatives like the Zero Waste Project, which has prevented 5.9 mn tons of greenhouse gas emissions. He also outlined Turkey's renewable energy goals, aiming to expand wind and solar capacity from 31 GW to 120 GW by 2035. Turkey first threw its hat in the ring to host COP31 back in December 2023.

Turkey is competing with Australia for the gig: Australia, with support from Pacific Island nations, is a leading candidate to host COP31, aiming to solidify climate action and boost green energy investment. Australia’s bid has wide national and international support, with several cities vying to host. Preparations are already underway, supported by a AUD 70 mn federal budget for climate diplomacy and summit logistics.

COP29 + FAO partner on farmer initiative: COP29 President Mukhtar Babayev and FAO Director-General Qu Dongyu signed an agreement to launch the Baku Harmoniya Climate Initiative for Farmers, according to a statement. The initiative aims to support farmers through the Agriculture for Sustainable Transformation (FAST) Partnership.

Socar + IntelliGrid partner on smart gas grids: Azerbaijan’s state-owned oil and gas company Socar signed an agreement with Esyasoft and Presight’s JV IntelliGrid to implement a smart gas grid management system, Azerbaijan state news agency Azertac reports. The agreement aims to use AI for data analysis, predictive maintenance, and real-time monitoring to optimize gas consumption and enhance operational efficiency.

WATCH THIS SPACE-

#1- Dubai advances eVTOL taxi project: The first of Joby's four aerial taxi vertiports in Dubai was greenlit for construction near Dubai International Airport, Wam reports. The vertiport will span 3.1 sq km and will include zones for take-off and landing, aircraft charging, and a dedicated aerial taxi apron. The facility is expected to handle approximately 42k landings annually, serving around 170k riders annually.

This has been in the works: Joby Aviation is set to commence commercial services of its battery-powered air taxis in Dubai by late next year. The company plans to have the infrastructure needed to run the electric air vehicles ready this year, before running initial flights in 2H 2025, in preparation for a full commercial launch at the end of 2025. Skyport will design, construct and operate a network of vertiports, and RTA will be responsible for the air mobility services.

#2- Dubai Electricity and Water Authority (Dewa)’s pumped-storage hydroelectric plant in Hatta is 94.2% complete, with generator installations underway for trial operations starting in early 2025, according to a statement. This AED 1.4 bn project, the first of its kind in the Gulf, is designed to store and deliver energy efficiently, using water from an upper dam and clean power from the Mohammed bin Rashid Al Maktoum Solar Park.

How it works: The facility, with a capacity of 250 MW and storage of 1.5k MWh, operates by converting water’s potential energy into electricity, capable of supplying power to Dewa’s grid within 90 seconds to meet demand surges. The plant is scheduled for full completion by mid-2025.

#3- Cleantech market to triple over next decade: Based on current policy settings, the global market for clean technologies is set to triple from USD 700 bn to over USD 2 tn by 2035 — almost equal to the projected size of the world’s crude oil market, the International Energy Agency said in a report (pdf). Trade in cleantech is also expected to grow over the coming decade to USD 575 bn, which is more than 50% larger than the projected global natural gas trade.

What’s driving the increase? The growth of the global cleantech market comes on the back of rising investment in the manufacturing of technologies as countries try to increase energy security, maintain economic growth, and reduce emissions. China, the EU, the US, and India are leaders in the sector, but China comes out on top as the leading manufacturer of cleantech with a projected USD 340 bn in exports by 2035. That’s around the same as Saudi Arabia and the UAE’s projected combined oil export revenue.

The Global South also has potential: Southeast Asia, Latin America, and Africa account for under 5% of clean tech market value but have potential to become key players in the global market. Southeast Asia could emerge as one of the cheapest producers of polysilicon and wafers for solar panels over the next decade, Latin America can scale up wind turbine production, North Africa could become an EV manufacturing hub, and several sub-Saharan African countries could produce iron using low-carbon hydrogen.

#4- Indonesia plans to attract international investors for 75 GW of new renewable energy projects over the next 15 years, Reuters quotes Indonesia’s climate envoy Hashim Djojohadikusumo as saying at COP29. The renewable energy projects, including solar, hydro, geothermal, and nuclear, aim to transform Indonesia’s current energy landscape, where coal comprises over half of the energy mix for its 90 GW capacity, while renewables account for less than 15%. In support, Indonesia’s state utility company is developing a 70k km green transmission line to facilitate renewable power distribution.

And carbon credits are on the table: Indonesia also plans to initiate carbon offset programs and a reforestation project for 12.7 mn hectares of degraded land, Reuters writes. With potential support from the Bezos Earth Fund, these projects aim to remove hundreds of mns of metric tons of carbon from the atmosphere and bolster Indonesia’s environmental impact on a global scale.

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The Loss and Damage Fund is ready to accept contributions

The Loss and Damage Fund is now ready to accept contributions and will start financing projects by 2025, according to a statement. The fund has seen pledges surpassing USD 720 mn, with Sweden recently committing an additional USD 19 mn. The announcement comes after the fund’s board signed a Trustee Agreement and the Secretariat Hosting Agreement with the World Bank and the Host Country Agreement with the Republic of the Philippines at COP29.

Next steps are crucial: “Now, the Fund needs to identify projects to get support flowing. All countries that have pledged money must complete their contribution agreements. And we need more pledges so we can meet the urgent needs of climate change victims,” said COP29 President Mukhtar Babayev.

ALSO FROM THE WORLD OF CLIMATE FINANCE-

Development banks to ramp up climate finance: 10 of the world’s biggest multilateral development banks (MDBs) — including the World Bank, European Investment Bank, and Asian Development Bank — have pledged to increase climate finance to low- and middle-income countries to USD 120 bn annually by 2030, according to a press release. Of that amount, USD 42 bn will go towards adaptation measures against extreme weather impacts. High-income countries’ combined financing is set to hit USD 50 bn, with USD 7 bn of that figure similarly earmarked for adaptation.

All eyes on the private sector: With Donald Trump set to head into office and governments cutting back on climate funding, the private sector’s role in increasing climate finance is gaining importance, Reuters says. The MDBs are looking to unlock an additional USD 65 bn in financing from the private sector, according to the press release. In 2023, they provided a record USD 125 bn in global climate finance for both climate change mitigation and adaptation efforts, with USD 74.7 bn allocated to low- and middle-income countries and USD 50.3 bn to high-income economies.

ICYMI- Earlier this week, the US and Japan agreed to underwrite risks for the Asian Development Bank’s (ADB) climate loans, effectively supporting the bank in raising its climate lending by USD 7.2 bn. The ADB said it was in talks with other MDBs to assist them in similarly increasing their own climate lending.

Saudi Arabia’s voluntary carbon market platform is online

Saudi Arabia launched a new carbon trading platform, with an inaugural 2.5 mn tons of carbon credits for projects across 17 countries available for auction starting yesterday, according to a press release (pdf) from the Regional Voluntary Carbon Market Company (RVCMC). The platform — which was first established in 2022 — is 80% owned by the Public Investment Fund (PIF), with Tadawul Group holding the remaining 20%. The story got ink from Bloomberg and S&P Global.

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Trading kicked off yesterday and saw participation from 23 Saudi and international companies including Aramco Trading, Ma’aden, Flynas, SABIC, PIF, Luberef, SNB, Eastern Province Cement, Red Sea Global, and others. International players taking part in the inaugural transactions included US-based Energroup and climate portfolio manager Valitera. The core basket clearing price stood at SAR 37.50 per tonne of carbon credits.

RVCMC’s launch comes one day after negotiators from across the world hammered out new rules for carbon trade at COP29 following years of deadlock, laying the groundwork for a global emissions market administered by the UN.

This has been in the works: RVCMC hired global ESG commodities exchange platform Xpansiv in April to provide a tech base for the carbon credit exchange. The company also signed two MoUs with Kenya’s main dry cell battery maker Eveready East Africa and Carbon Vista Nigeria to set up high-quality and impactful carbon projects in the two countries last year. RVCMC and the National Committee for the Clean Development Mechanism of Saudi Arabia inked an agreement to ensure the carbon markets in the Kingdom are transparent, robust, and credible.

The carbon market is already active: RVCMC auctioned 1.4 mn tons of carbon credits in 2022. Saudi Aramco, Olayan Financing, and Ma’aden purchased the largest number of carbon credits in the auction, with 12 other Saudi and regional companies participating. It also held a voluntary carbon credit in Nairobi in 2022, offering over 2 mn tons of carbon credits to over 15 companies from various countries, including Saudi Arabia. It also signed an MoU with Plastics manufacturer Saudi Top to trade carbon credits in July.

RVCMC applies new guidelines to address greenwashing claims that have stifled previous carbon market initiatives, Bloomberg said. This means that credits from renewable energy projects and clean cooking stoves will no longer make the cut. The platform is also deploying two teams dedicated to due diligence on each credit-generating project, while accreditation must also be secured from independent verifiers Sylvera or BeZero. “It’s a lot of overhead on companies but this is the only way we can protect our buyers and provide some confidence to them,” Bloomberg cites the platform’s CEO Rihm ElGizy as saying.

More than three quarters of the credits on offer are connected to projects in the Global South, including Bangladesh, Brazil, Ethiopia, Malaysia, Pakistan, and Vietnam, the statement said. About a fifth of the auctioned credits are “removal credits,” which are designed to pull greenhouse gasses out of the atmosphere rather than simply cut emissions, in line with international standards. These include landfill gas projects which capture methane emissions, a reforestation drive in Ethiopia that will also boost local incomes, and a US-based construction technology project that looks to embed captured CO2 in concrete.

This is the region’s second go at a carbon offset market: Abu Dhabi was first out of the gate with a carbon exchange in the Middle East, but the platform — dubbed ACX — shut down just one year after launch and moved shop to Singapore due to limited market pull and policy gaps, EnterpriseAM UAE reported previously. A lack of mandates requiring regional firms to offset their emissions and a downturn in the global carbon offset market on the back of widespread greenwashing claims contributed to ACX’s failure to generate traction.

IN OTHER CARBON CREDIT NEWS-

Egypt amends carbon credit rules on EGX: Egypt’s Financial Regulatory Authority (FRA) amended the rules for listing and delisting carbon emission reduction certificates on the EGX, according to a statement. The changes aim to cut red tape and encourage companies to participate in carbon reduction projects by simplifying the registration process for emission-reduction projects. The new regulations allow projects to be registered in the database before validation reports are issued, provided that these reports are submitted within a year. The FRA has also introduced a requirement for verification and validation entities to obtain ISO certifications to enhance their capabilities.

FRA has been busy: The authority registered 12 new carbon reduction projects to its newly-launched carbon market in September. All 12 projects are certified under Egyptian Biodynamic Association’s Economy of Love standard, which aims to support small-scale farmers as they switch to organic and biodynamic farming methods. They will offer over 13.2k carbon credits that will help reduce 13.3k tons of carbon emissions.

UK sets new emissions targets + Trump’s anti-climate views will not shape targets, World Bank says

The UK raised its 2035 emissions reduction target by 3 percentage points, setting a new climate goal of reducing greenhouse gas emissions by 81%, up from the previous target of 78%, UK Prime Minister Keir Starmer said at COP29, according to a readout of his remarks. This move aligns with the recommendations of the Climate Change Committee, Bloomberg reported. The UK government is expected to submit a detailed action plan next year, focusing on sectors such as domestic transport and buildings. The target excludes international aviation and shipping emissions.

The higher target is being (relatively) well received: “This is a relatively ambitious target compared with many other nations, and will help build momentum at these talks,” Greenpeace UK’s senior political adviser Rebecca Newsom said, according to Bloomberg. “Starmer’s 2035 carbon-reduction pledge is a step in the right direction but must be seen as a floor to the level of ambition, not a ceiling … if these targets are to be credible, they must be backed by a clear plan to ensure they are met. The UK’s existing 2030 commitment is currently way off course,” Friends of the Earth’s head of campaigns Rosie Downes told The Guardian.

ELSEWHERE IN THE WORLD OF CLIMATE TARGETS-

World Bank remains committed to climate goals despite Trump re-election concerns: Donald Trump’s re-election as US president should not derail the bank’s climate targets, World Bank President Ajay Banga told Bloomberg on the sidelines of COP29. Instead, he urged observers to focus on Trump’s actions rather than his campaign rhetoric. “Let’s watch his actions, watch his deeds and work with him on explaining why these things are good for American business, for European businesses, and for everybody else,” he said.

The World Bank is still on the right path: The World Bank remains on track to meet its climate goals, with 44% of its current loans dedicated to climate projects and an aim to reach 45% by 2025, Banga said. The bank has also expanded debt relief for small island nations impacted by climate crises and plans to launch a Frontier Opportunities Fund to attract investment from pension funds and insurance companies for climate initiatives.

SPEAKING OF WHICH- Trump urged to drop anti-climate agenda: Exxon Mobil CEO Darren Woods urged the US president-elect to reconsider his plan to withdraw the US from the Paris Agreement. In an interview with Bloomberg, Woods emphasized that staying in the pact would allow the US to influence global carbon-cutting policies.

The pitch: Woods argued that participating in international efforts is crucial for balancing emission reductions with the need for affordable energy. Woods also defended the Inflation Reduction Act (IRA), noting its focus on lowering carbon intensity through market-driven solutions. He pointed out that the IRA's tax credits for low-carbon hydrogen production and other green technologies are essential for justifying investments in the energy transition.

Masdar progresses on 1 GW Kazakh wind farm

PROJECT UPDATE- Masdar signs investment agreement for 1 GW Kazakhstan wind farm: UAE renewables giant Masdar and its partners — W Solar, Qazaq Green Power QGP, and the Kazakhstan Investment Development Fund — signed an investment agreement with Kazakhstan’s government to develop for their 1 GW wind farm in Kazakhstan, according to a press release. The agreement was signed on the sidelines of COP29.

About the plant: The wind farm will have a 600 MWh capacity Battery Energy Storage System (BESS) and will be located in the Jambyl region. Constriction is set to begin in Q1 2026. Once completed, the plant is expected to produce enough power for 300k homes in south Kazakhstan to offset 2 mn tons of emissions per annum.

Timeline and impact: The construction will commence in 1Q 2026, and when completed, it will provide power to 300k homes in the south of Kazakhstan, eliminating 2 mn tons of annual carbon emissions. The new facility is located in the Jambyl region, and will feature a 600 MWh battery energy storage system.

REMEMBER- The company signed a joint development agreement (JDA) with W Solar, Qazaq Green Power QGP — owned by Kazakh sovereign wealth fund Samruk-Kazyna — and the Kazakhstan Investment Development Fund to develop the wind farm in December 2023 as part of a slate of agreements signed during COP28. The project marks Masdar’s first entry into Kazakhstan.

Masdar has been heavily investing in Asian green energy projects, signing an agreement with Malaysia to proceed with the development of 10 GW worth of clean energy projects late last year. The company is also developing a 2 GW wind farm and 250 MW solar plant in Uzbekistan, as well as 1 GW worth of solar and wind projects in Azerbaijan. The company is also developing projects in Indonesia, including a plan to triple the size of its Cirata 145 MW floating solar plant and to explore green hydrogen projects. It also signed an agreement with Kyrgyzstan’s Ministry of Energy to establish 3.6 GW of hydropower and renewable energy projects.

UN-backed ITA cooperates with UAE and Bahrain to boost decarbonization

ITA partners with UAE and Bahrain to boost MENA industrial decarbonization: The Industrial Transition Accelerator (ITA) launched partnerships with the UAE and Bahrain to accelerate industrial decarbonization across the MENA region, Bahrain News Agency reports. The UAE’s Industry and Advanced Technology Ministry and Bahrain’s Industry and Commerce Ministry are the ITA's inaugural partners in the region.

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Who’s involved? UAE-based companies EMSteel, Emirates Global Aluminium, and Arabian Gulf Steel Industries (AGSI) signed on as formal partners. EMSteel is piloting green hydrogen to produce low-carbon steel with Masdar, while Emirates Global Aluminium and AGSI emphasize collaboration to address shared decarbonization challenges and improve policy frameworks for sustainable solutions.

REFRESHER- The ITA was launched in December 2023 at the World Climate Action Summit and aims to gather investment to bolster decarbonization efforts in heavy-emitting industries — aluminum, cement, chemicals, steel, shipping, and aviation. The accelerator also supports scaling clean industrial projects to help them reach final investment decisions.

What will it do? The ITA aims to support large-scale industrial projects to reach Final Investment Decisions (FID) by 2026 and become operational by 2030, a critical timeline to meet Paris Agreement goals, BNA reports. Through its Mission Possible Partnership (MPP) Global Project Tracker, ITA has identified key net-zero aligned projects in the UAE, which, if realized, could meet 30% of the UAE’s 2030 climate target. ITA provides tailored support, helping address policy needs, stimulate demand for green goods, and build low-emissions value chains to de-risk investments.

Egypt greenlights EV ins. policies guidelines

EVs-

Egypt’s Financial Regulatory Authority (FRA) approved two guiding documents for ins. policies covering electric vehicles (EVs) for personal and commercial use, Al Mal reports, citing the Insurance Federation of Egypt’s auto division head, Arabi Al Sayed.

The details: The guiding documents see ins. plans covering accidents, repairs, fires, theft, third-party liability, and passenger protection for EV owners — though only if they follow manufacturer guidelines to avoid issues, such as only using original chargers and safely disposing of damaged batteries. Cyberattacks are excluded from coverage. Each ins. company must get FRA approval before issuing either of the approved policies.

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RECYCLING-

Tadweeer + Re to collaborate on recycling: Saudi Arabia’s National Environmental Recycling Co. (Tadweeer) and Dubai-based Re Sustainability Middle East signed an MoU to explore jointly establishing metal refineries and recycling units in Saudi Arabia, according to a Tadawul disclosure. The collaboration would also include the development of a joint venture company which will be set up later on.

ICYMI- Tadweeer just got a boost: Tadweeer received approval last week from the Capital Market Authority for its proposal to double the company's capital by issuing bonus shares. The plan — initially recommended by the board in August — will capitalize SAR 58.08 mn from retained earnings, providing freeshares to existing shareholders.

SOLAR-

EWA issues 44 MW solar tender: Bahrain’s Electricity and Water Authority issued a call for bids for the engineering, design, supply, installation, testining, and commissioning of a 44 MW-peak solar PV plant for the University of Bahrain, Zawya Projects reports. The plant will generate around 75 GWh of electricity per year using car park solar PV systems. The deadline to submit proposals is 21 November and the chosen contractor will have two years to complete the project.

INFRASTRUCTURE-

Hyundai Engineering and Construction (E&C) secured a USD 713.9 mn contract from the Saudi Electricity Company for high-voltage transmission lines, Korea’s Yonhap news agency reports, citing a regulatory filing. The agreement will see Hyundai E&C build out a 369-km section of the 500-kilovolt 1,089-km high-voltage direct current (HVDC) transmission line connecting Riyadh with Kudmi in the southwestern Saudi Arabia.

Hyundai E&C is doing plenty in Saudi: The engineering firm secured a contract last year to build another HVDC transmission line linking Neom with the southwestern port city of Yanbu. Reports also emerged earlier this year indicating that a Hyundai E&C-led consortium will be working on the second phase of Aramco’s Jafurah Gas Field in a USD multi-bn contract. Hyundai was also awarded a USD 145 mn contract last year to build a 525 KV HVDC transmission line connecting Saudi Arabia’s net zero city Neom to cities across the country.

GREEN CEMENT-

A partnership between local cement supplier Saudi Readymix and Finnish tech firm Betolar rolled out two low-emission concrete products for use in Saudi Arabia’s construction sector, according to a press release. The low-carbon concrete solutions look to bolster the construction sector’s push to contribute to national sustainability goals.

Siemens nabs major turbine order

Siemens secures USD 1.3 bn turbine order: Siemens Energy’s wind division Siemens Gamesa has been selected for a wind turbine order worth USD 1.3 bn (GBP 1 bn) by ScottishPower — a subsidiary of Spain’s Iberdrola — for its 960 MW offshore East Anglia TWO wind farm, Reuters reports. The GBP 4 bn project is located in the North Sea and will incorporate 64 of Siemens’ SG 14-236 DD offshore wind turbines to produce enough energy to power almost 1 mn homes.

Iberdrola benefited from the UK’s renewables auction: In September, the UK awarded 131 subsidy contracts in its latest renewable energy auction — the sixth of its kind — to back nearly 10 GW of capacity, including for East Anglia Two and East Anglia Three.

CALENDAR

NOVEMBER 2024

11-22 November (Monday-Friday): United Nations Climate Change Conference or Conference of the Parties (COP29), Baku, Azerbaijan.

11-14 November (Monday-Thursday): Abu Dhabi International Petroleum Exhibition & Conference, Abu Dhabi, UAE.

18-19 November (Monday-Tuesday): G20 Summit, Rio de Janeiro, Brazil.

19-22 November (Tuesday-Friday) Aquaculture Africa 2024, Hammamet, Tunisia.

26- 27 November: (Tuesday - Wednesday): World Food Security Summit, Abu Dhabi, UAE.

26-28 November (Tuesday-Thursday): Egypt Energy Show, Cairo, Egypt.

27-28 November (Wednesday-Thursday): RAK Energy Summit, Ras Al Khaimah, UAE.

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.

15-16 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, Riyadh, Saudi Arabia.

FEBRUARY 2025

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 2025

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

JUNE 2025

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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