{"id":74222,"date":"2022-10-05T02:06:28","date_gmt":"2022-10-05T02:06:28","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=74222"},"modified":"2025-12-15T07:57:47","modified_gmt":"2025-12-15T07:57:47","slug":"the-gcc-cant-get-enough-of-its-renewables-ma-spree","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/the-gcc-cant-get-enough-of-its-renewables-ma-spree\/","title":{"rendered":"The GCC can\u2019t get enough of its renewables M&#038;A spree."},"content":{"rendered":"<section id=\"74224\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"74224\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">WHAT WE\u2019RE TRACKING TODAY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/05\/today-saudi-ev-plans-push-ahead-lebanons-solar-scammers-90-country-leaders-are-coming-to-cop27\/\">\r\n                            TODAY: Saudi EV plans push ahead + Lebanon\u2019s solar scammers + 90 country leaders are coming to COP27                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/05\/today-saudi-ev-plans-push-ahead-lebanons-solar-scammers-90-country-leaders-are-coming-to-cop27\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/climate\/2022\/10\/05\/today-saudi-ev-plans-push-ahead-lebanons-solar-scammers-90-country-leaders-are-coming-to-cop27\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/climate\/2022\/10\/05\/today-saudi-ev-plans-push-ahead-lebanons-solar-scammers-90-country-leaders-are-coming-to-cop27\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=TODAY: Saudi EV plans push ahead + Lebanon\u2019s solar scammers + 90 country leaders are coming to COP27&url=https:\/\/enterpriseam.com\/climate\/2022\/10\/05\/today-saudi-ev-plans-push-ahead-lebanons-solar-scammers-90-country-leaders-are-coming-to-cop27\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/climate\/2022\/10\/05\/today-saudi-ev-plans-push-ahead-lebanons-solar-scammers-90-country-leaders-are-coming-to-cop27\/&title=TODAY: Saudi EV plans push ahead + Lebanon\u2019s solar scammers + 90 country leaders are coming to COP27\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=TODAY%3A+Saudi+EV+plans+push+ahead+%2B+Lebanon%E2%80%99s+solar+scammers+%2B+90+country+leaders+are+coming+to+COP27+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F10%2F05%2Ftoday-saudi-ev-plans-push-ahead-lebanons-solar-scammers-90-country-leaders-are-coming-to-cop27%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/05\/today-saudi-ev-plans-push-ahead-lebanons-solar-scammers-90-country-leaders-are-coming-to-cop27\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74224\" class=\"content-area-description single-story post-74224 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-afr100 tag-africa tag-african-union-development-agency-nepad tag-bezos-earth-fund tag-climate-finance-accelerator tag-cop26 tag-cop27 tag-deforestation tag-enterpriseclimate tag-europe tag-germany tag-jeff-bezos tag-king-charles tag-land-degradation-african-development-bank tag-lebanon tag-solar-energy tag-uk tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Good morning, wonderful people. <\/strong>It was a slow news day yesterday, but we\u2019re not complaining. It gave us plenty of time to discuss how the UK government is working on climate change in Egypt. Among those with whom we had the chance to speak was UK Ambassador to Egypt Gareth Bayley.<\/p>\n<p><strong>*** <\/strong><strong><a href=\"https:\/\/www.surveymonkey.com\/r\/9VF6H6Y\">Take our EV survey<\/a><\/strong><strong>:<\/strong> Are you an ex-petrolhead shopping around for your first electric vehicle? EV-curious and wondering what all the fuss is about? Or are you not ready to say goodbye to that sweet smell of benzene as you wait at the gas station?<\/p>\n<p><strong>We want to hear from you:<\/strong> We\u2019re taking the pulse on how the nation feels about Egypt\u2019s nascent EV transition. Take a few minutes to fill out <a href=\"https:\/\/www.surveymonkey.com\/r\/9VF6H6Y\">our short survey<\/a>. We\u2019ll be back with the results in a couple of weeks.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>MEANWHILE- The<\/strong><strong> British Embassy in Egypt launched its Climate Finance Accelerator <\/strong><strong>(CFA) program <\/strong><strong>yesterday. <\/strong>The GBP 10.8 mn, four-year technical assistance program will build a pipeline of bankable low-carbon projects and give them access to financing. Piloted in Colombia, Mexico and Peru, the CFA is now looking to expand in Egypt, Nigeria, Pakistan, South Africa and Turkey. The program \u2014 which is looking to select 8-12 projects \u2014 is currently accepting proposals for projects seeking USD 1 mn in funding. <a href=\"https:\/\/lnkd.in\/dkTXMEdr\">You can apply here through 16 October<\/a>.<\/p>\n<p><strong>Who is involved?<\/strong> The program is funded by International Climate Finance (ICF) through the UK government\u2019s Department for Business, Energy and Industrial Strategy. It is being delivered locally by PricewaterhouseCoopers UK, and implemented by Genesis Analytics and Acumen Consulting Egypt.<\/p>\n<p><strong>Egypt\u2019s FRA and UK\u2019s FDS Africa also signed an MoU on environmental ins. at the <\/strong><strong>ceremony: <\/strong>Egypt\u2019s Financial Regulatory Authority and the UK\u2019s Financial Sector Deepening Africa signed an MoU to explore ins. products for issues pertinent to the environment. More on all of this in the embassy\u2019s <a href=\"https:\/\/ent.news\/2022\/10\/UK_CFA_launch_english.pdf\">press release (pdf)<\/a> on the event, out overnight.<\/p>\n<p><strong>We also sat down with UK Ambassador to Egypt Gareth Bayley<\/strong> for a talk about King Charles III not attending COP27 in person and how newly-appointed UK Prime Minister Liz Truss will tackle climate development finance for Egypt.<\/p>\n<p><strong>We\u2019ll have the complete story for you in tomorrow\u2019s issue of Enterprise Climate.<\/strong><\/p>\n<hr class=\"grey-line\">\n<p><strong>THE BIG CLIMATE STORY- It\u2019s got to be UAE\u2019s Multiply Group acquiring an 80% stake in <\/strong><strong>UAE-based International Energy Holding Company. <\/strong>The conglomerate, which is involved in several businesses ranging from media to mobility, is moving forward with its plan to expand its investments in clean energy globally.<\/p>\n<p><strong>ALSO- The GCC has the potential to collect almost 90% of solid waste and recycle 75% of <\/strong><strong>it by 2040<\/strong>, but to achieve this, the region would require a whopping USD 130 bn in investment.<\/p>\n<p><strong>^^We\u2019ve got chapter and verse on these stories in the news well below.<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>W<\/strong><strong>ORTH READING- Lebanon\u2019s transition to renewables is stifled by rampant <\/strong><strong>scamming: <\/strong>Lack of developed solar energy infrastructure and high installation costs In Lebanon are giving way to fraudsters who are duping households into buying defunct and defective solar panels, Reuters <a href=\"https:\/\/www.reuters.com\/article\/lebanon-solar-electricity\/feature-lebanese-solar-energy-scams-hold-back-push-for-green-power-idINL8N30J1GG\">wrote<\/a> yesterday. Additionally, low-quality solar energy parts and installation have also been spreading throughout the country. This is particularly sad considering how many in Lebanon have been turning to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/4d215377-c7ac-48dc-89cc-4115132080d6\">solar panels<\/a>to combat the ongoing energy crisis in the Levantine country.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>WATCH THIS SPACE-<\/strong> <strong>Saudi and Lucid continue to get closer: <\/strong>The Saudi Industry Minister met with Peter Rawlinson, the CEO of US EV manufacturer <a href=\"https:\/\/www.lucidmotors.com\/\">Lucid<\/a>, in the US to discuss investment and trade, state news agency SPA <a href=\"https:\/\/bit.ly\/3RIeP8s\">reported<\/a>. Back in February, Lucid Motors and Saudi Arabia signed an <a href=\"https:\/\/bit.ly\/3EfJ4QR\">agreement<\/a> to build a full production plant in the kingdom that could possibly earn the EV manufacturer USD 3.4 bn over 15 years. Construction of the facility, which targets producing 150k vehicles per year, began in May, according to a <a href=\"https:\/\/bit.ly\/3yiSCGX\">statement<\/a>. In April, Lucid and Saudi Arabia also signed an <a href=\"https:\/\/bit.ly\/3fBejLX\">agreement<\/a> for the purchase of 100k vehicles over a ten-year period.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"climate\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><p>\n <strong>*** YOU\u2019RE READING ENTERPRISE CLIMATE, the essential regional publication for senior execs who care about the world\u2019s most important industry. <\/strong>Enterprise Climate covers everything from finance and tech to regulation, products and policy across the Middle East and North Africa. In a nod to the growing geographical ambitions of companies in our corner of the world, we also include an overview of the big trends and data points in nearby countries, including Africa and southern Europe.<\/p>\n<p><strong>Enterprise Climate is published at 4am CLT \/ 5am Riyadh \/ 6am UAE Monday through Thursday by Enterprise<\/strong>, the folks who bring you Enterprise Egypt, your essential 6am and 3pm read on business, finance, policy and economy in Egypt and emerging markets.<\/p>\n<p><strong><a href=\"https:\/\/climate.enterprise.press\/subscribe\/\">Subscribe to Enterprise Climate here<\/a><\/strong> or reach out to us on <a href=\"mailto:climate@enterprisemea.com\">climate@enterprisemea.com<\/a> with comments, suggestions and story tips.<\/p>\n<hr class=\"grey-line\">\n<p><strong>THE COUNTDOWN TO COP (33 days to go)- <\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>90 country leaders have confirmed attending COP27 so far<\/strong>, Reuters <a href=\"https:\/\/reut.rs\/3SVjnck\">reported<\/a> on Monday. The heads of state will join six roundtables in addition to traditional plenary meetings, the news agency quotes Egypt\u2019s special representative for the COP27 presidency, Wael Aboulmagd, as saying. The roundtables, which will be held on 7-8 November, will include the development of green hydrogen, water, food security, the energy transition and vulnerable communities.<\/p>\n<p><strong>Bezos wants to establish a land restoration coalition: <\/strong>Jeff Bezos\u2019 environmental fund Bezos Earth Fund (BEF) wants to build a European-African coalition around COP27 to increase land restoration efforts in Africa by 2030, BEF\u2019s chief executive Andrew Steer <a href=\"https:\/\/www.reuters.com\/business\/sustainable-business\/reuter-impact-jeff-bezos-fund-push-africa-land-restoration-around-un-climate-2022-10-04\/\">said<\/a> during the Reuters Impact conference last week. The initiative \u2014 <a href=\"https:\/\/afr100.org\/\">AFR100<\/a> \u2014 is led by an African Union agency and aims to reverse deforestation and land degradation on 100 mn hectares of African soil. BEF, the African Development Bank, Germany and other stakeholders <a href=\"https:\/\/afr100.org\/content\/afr100-issues-cop27-challenge\">called<\/a> at COP26 to mobilize USD 2 bn by COP27.<\/p>\n<p><strong>HAPPENING TODAY- <\/strong><\/p>\n<p><strong>UN\u2019s <\/strong><strong><a href=\"https:\/\/www.unepfi.org\/net-zero-alliance\/\">NZAOA<\/a><\/strong><strong> hosts its virtual <\/strong><strong><a href=\"https:\/\/bit.ly\/3SPCPY8\">forum<\/a><\/strong><strong> on blended finance for climate investments in <\/strong><strong>emerging markets today: <\/strong>The Net-Zero Asset Owner Alliance (NZAOA) will discuss blended finance for climate investment in emerging markets and developing economies, ahead of the <a href=\"https:\/\/live.worldbank.org\/annual-meetings-2022?cid=ECR_GA_worldbank_EN_EXTP_AM22-search-conv-generic-pre&gclid=CjwKCAjw7eSZBhB8EiwA60kCW3XMPCWLpLAi41v-wx7vQxNRuMMKx2PbcA_ObCxfgEWscPtfL--E5RoCET4QAvD_BwE\">IMF-World Bank Annual Meetings<\/a> next week. (Blended finance = using development finance to leverage private capital for countries\u2019 sustainable development plans.) You can register for the event <a href=\"https:\/\/bit.ly\/3rmozKz\">here<\/a>.<\/p>\n<p><strong>CIRCLE YOUR CALENDAR- <\/strong><\/p>\n<p><strong>The IMF and World Bank will hold their annual meetings<\/strong> in Washington, DC, on 10-16 October.<\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/www.cairowaterweek.eg\/\">Cairo Water Week 2022<\/a><\/strong><strong> will kick off on Sunday, 16 October<\/strong> and run for four days. Discussions will revolve around climate change strategies and development plans, sustainable financing solutions, as well as water recycling, among other topics.<\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/era.dz\/\">International Exhibition of Renewable Energies, Clean Energies and<\/a><\/strong><strong><a href=\"https:\/\/era.dz\/\">Sustainable Development will take<\/a><\/strong><strong> place from 24-26 October in Oran, Algeria.<\/strong> The event will include panels focusing on energy efficiency and energy saving, startups\u2019 role in the energy transition, and the bankability of renewable energy projects.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/afr100\/\">AFR100<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/africa\/\">Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/african-union-development-agency-nepad\/\">African Union Development Agency-NEPAD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/bezos-earth-fund\/\">Bezos Earth Fund<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-finance-accelerator\/\">Climate Finance Accelerator<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/cop26\/\">COP26<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/deforestation\/\">deforestation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/europe\/\">Europe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/germany\/\">Germany<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/jeff-bezos\/\">Jeff Bezos<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/king-charles\/\">King Charles<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/land-degradation-african-development-bank\/\">land degradation African Development Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/lebanon\/\">Lebanon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/solar-energy\/\">solar energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uk\/\">UK<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74225\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    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story-section            \"\r\n            id=\"74226\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/05\/multiply-bought-a-majority-stake-in-international-energy-holding-company\/\">\r\n                            Multiply bought a majority stake in International Energy Holding Company                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            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<\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/05\/multiply-bought-a-majority-stake-in-international-energy-holding-company\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/716.png?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"74227\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/05\/multiply-bought-a-majority-stake-in-international-energy-holding-company\/716-png\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/716.png?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"716.png\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/716.png?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/716.png?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74226\" class=\"content-area-description single-story post-74226 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-acquisitions tag-enterpriseclimate tag-ma-watch tag-multiply-group tag-renewables tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>ADX-listed <\/strong><strong><a href=\"https:\/\/multiply.ae\/\">Multiply Group<\/a><\/strong><strong> acquired an 80% stake in UAE-based <\/strong><strong>International <\/strong><strong>Energy Holding Company<\/strong>, a subsidiary of International Holding Company (<a href=\"https:\/\/ihcuae.com\/\">IHC<\/a>), it <a href=\"https:\/\/bit.ly\/3Cw9IDV\">announced<\/a>in a statement yesterday. Multiply is a conglomerate with businesses in sectors ranging from media to mobility; it\u2019s now looking to grow its investment in clean energy globally. \u201cThe industry offers strong growth potential as the world transitions towards clean and renewable energy,\u201d said Multiply CEO Samia Bouazza. The other 20% of IEH has been acquired by IHC subsidiary <a href=\"https:\/\/enterprise.press\/stories\/2022\/02\/20\/alpha-dhabi-holding-eyes-egyptian-and-saudi-markets-65328\/\">Alpha Dhabi Holding<\/a>.<\/p>\n<p><strong>What\u2019s IHC? <\/strong>IHC has holdings in nine industries, from finance to real estate, food and beverages, agriculture, industry, utilities, and healthcare \u2014 and it\u2019s now diving deeper into renewables. Back in August, IHC <a href=\"https:\/\/ihcuae.com\/media\/news-45.html\">purchased<\/a> 50% of Turkey\u2019s Kalyon Enerji for approximately USD 517 mn through its subsidiary International Energy Holding. The Turkish company has several solar and wind projects \u2014 ongoing and in the pipeline \u2014 serving over 2 mn people.<\/p>\n<p><strong>GO DEEPER- <\/strong>The high-profile Abu Dhabi company is chaired by Sheikh Tahnoon bin Zayed Al Nahyan, the UAE\u2019s national security advisor and a leading figure in the business community. Sheikh Tahnoon, the brother of UAE President Sheikh Mohamed bin Zayed, chairs high-profile corporations including Abu Dhabi sovereign wealth fund <a href=\"https:\/\/adq.ae\/who-we-are\/our-board-of-directors\">ADQ<\/a>, lender <a href=\"https:\/\/www.bankfab.com\/en-ae\/about-fab\/group\/board-of-directors\">FAB<\/a> and <a href=\"https:\/\/royalgroupuae.com\/about-us.html\">Royal Group<\/a>, among others.<\/p>\n<p><strong>What they said:<\/strong> Multiply Group\u2019s acquisition \u201creflects [a] strategy to build up utilities vertical which has contributed to [the group\u2019s] financial performance,\u201d Bouazza added. Multiply Group will use IEH \u201cto continue expanding its utilities and energy investments globally,\u201d the company said in the statement.<\/p>\n<p><strong>Multiply has a green M&A track record:<\/strong> In 2021, the company <a href=\"https:\/\/bit.ly\/3SyjNpu\">acquired a 100% of Pal Cooling Holding<\/a>, a UAE-based district cooling solutions provider. In March of 2022, the conglomerate <a href=\"https:\/\/bit.ly\/3V2uwde\">invested in the Dubai Electricity and Water Authority\u2019s (DEWA) IPO<\/a> nearly USD 100 mn. 6 months later, the conglomerate <a href=\"https:\/\/bit.ly\/3EbPEbb\">acquired a 7.3% stake<\/a> in the Abu Dhabi National Energy Company PJSC (TAQA) for USD 2.7 bn.<\/p>\n<p><strong>Abu Dhabi is pushing hard into renewables around the world \u2014 and others in the region are following suit: <\/strong>State-owned Abu Dhabi giant Masdar is planning on growing its renewables portfolio through <a href=\"https:\/\/bit.ly\/3eaHe9b\">a string of global acquisitions<\/a>, the company announced last Monday. The Qatar Investment Authority (QIA) is also getting with the programme. The fund recently <a href=\"https:\/\/bit.ly\/3RxL1LC\">announced<\/a> spending EUR 2.4 bn on major German utilities provider RWE in a debt-to-equity swap that will eventually see QIA own 9.09% of RWE.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/acquisitions\/\">acquisitions<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/multiply-group\/\">Multiply group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74228\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"74228\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">WASTE MANAGEMENT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/05\/the-gcc-needs-usd-130-bn-to-achieve-its-circularity-targets\/\">\r\n                            The GCC needs USD 130 bn to achieve its circularity targets                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/05\/the-gcc-needs-usd-130-bn-to-achieve-its-circularity-targets\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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To achieve this, the study found that the region would require a whopping USD 130 bn in investment. It would also need clear regulations and financial incentives, paired with joint action between the public and private sectors.<\/p>\n<p><strong>Why would the GCC bother?<\/strong> <strong>The region stands to increase its GDP by USD 95-105 bn, while adding around 300k jobs, <\/strong>the study found. And that\u2019s just from recycling plastic, concrete and cement, metal, and bio-waste. Recycling typically creates on average more than 50x as many jobs as landfilling and incineration. Additionally, it will allow the GCC to trade more easily with countries that have environmental regulatory pressures and carbon border taxes. Biowaste recycling could help mitigate reliance on fertilizers manufacturing and imports.<\/p>\n<p><strong>Not to mention the obvious environmental benefits,<\/strong> including potentially slashing 1-1.5 bn tonnes of CO2 emissions by 2040.<\/p>\n<p><strong>Especially when considering that the GCC generates between 150-190 mn tonnes of waste annually<\/strong>. Large infrastructure and real estate development projects currently account for the largest waste volumes. Cement and concrete, plastic, metal and bio-waste make up approximately 70% of the region\u2019s waste.<\/p>\n<p><strong>How should this USD 130 bn be deployed? <\/strong>The study estimates that the region needs USD 60-85 bn invested in four key waste streams (plastic, concrete and cement, metal, and bio-waste) over the next 20 years to cover design, collection, sorting and recycling to meet its circularity targets. 65% would go into developing and deploying technology in recycling and expanding recycling capacity, while 20% would go into collection, 10% for sorting and 5% for product design.<\/p>\n<p><strong>The hurdles:<\/strong> With the exception of a handful of large urban centers, the region\u2019s waste management sector remains fragmented, largely managed by small-scale collection companies. There is also an absence of consistent data on waste. Material sorting at source remains minimal in most of the GCC, including in large urban centers, which results in the contamination of waste streams and increases the costs of sorting.<\/p>\n<p><strong>Tighter regulation needed: <\/strong>GCC countries lack comprehensive regulatory frameworks promoting recycling in all sectors, and even those that do may not implement them fully due to weak environmental legislation and enforcement. Additionally, GCC consumers lack awareness about circularity and education about waste separation and plastic pollution.<\/p>\n<p><strong>The economics of recycling are obviously harder: <\/strong>There is also an absence of financial incentives, including low costs for landfilling compared to recycling discourage recycling.<\/p>\n<p><strong>KSA and the UAE produce the most waste, but are also the most active in trying to adopt the circular economy: <\/strong>Both countries account for roughly 75% of the region\u2019s waste. That said, both countries are making strides to change that.<\/p>\n<p><strong>The UAE has adopted a <\/strong><strong><a href=\"https:\/\/u.ae\/en\/about-the-uae\/strategies-initiatives-and-awards\/federal-governments-strategies-and-plans\/uae-circular-economy-policy\">Circular Economy Strategy<\/a><\/strong><strong>,<\/strong> while Dubai issued the <a href=\"https:\/\/www.dm.gov.ae\/municipality-business\/al-safat-dubai-green-building-system\/\">Dubai Green Building System<\/a> \u2014 a set of regulations to increase recycled content in construction. Not to mention the slew of new recycling projects being pushed, including Sharjah, where <a href=\"https:\/\/www.beeahgroup.com\/\">Beeah<\/a> Group <a href=\"https:\/\/www.beeahgroup.com\/beeah-launches-recycling-facility-with-robotics-ai-to-reinforce-zero-waste-to-landfill-ambitions\/\">announced<\/a> a new commercial and industrial recycling facility, which utilizes a robotics and AI system to automatically detect, identify and separate different kinds of waste. The facility will process 156k tons of mixed recyclables annually once it is fully operational. This week, the Abu Dhabi Waste Management Centre (<a href=\"https:\/\/www.tadweer.gov.ae\/\">Tadweer<\/a>) <a href=\"https:\/\/www.zawya.com\/en\/world\/middle-east\/abu-dhabi-over-1-million-tons-of-products-recycled-from-waste-in-first-half-of-2022-wwo2cxl3\">reported<\/a> that it has produced more than 1 mn tons of products from recycled waste materials collected from the Emirate in 1H2022<\/p>\n<p><strong>Meanwhile, Saudi Arabia has pushed forward its <\/strong><strong><a href=\"https:\/\/www.cce.org.sa\/\">Circular Carbon Economy National Program<\/a><\/strong><strong>. <\/strong>KSA has published targets to divert 82% of all landfill waste \u2014 for which it has earmarked USD 27-32 bn, recycle 42% and compost 35% by 2035. The Kingdom\u2019s Public Investment Fund (PIF) intends to invest USD 11 bn by 2035 to increase recycling, with the support of the Saudi Investment Recycling Company (SIRC). The targets of other countries are not mentioned in the report.<\/p>\n<p><strong>AND IF ALL ELSE FAILS, TURN THAT WASTE INTO ENERGY-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Kuwait Municipality has approved a refuse-driven fuel (RDF) project to power up <\/strong><strong>its main cement production plant<\/strong>, Kuwaiti daily <a href=\"https:\/\/www.alqabas.com\/article\/5894931-%D8%AA%D8%AD%D9%88%D9%8A%D9%84-%D9%86%D9%81%D8%A7%D9%8A%D8%A7%D8%AA-%D8%A7%D9%84%D8%A8%D9%84%D8%AF%D9%8A%D8%A9-%D8%A7%D9%84%D8%B5%D9%84%D8%A8%D8%A9-%D8%A5%D9%84%D9%89-%D9%88%D9%82%D9%88%D8%AF-\">Al Qabas<\/a> reported, citing sources close to the matter. The project will utilize solid, non-biodegradable waste to feed kilns at the Kuwait Cement Company (KCC) for further cement production. The media outlet did not mention the project cost.<\/p>\n<p><strong>What we know about the project: <\/strong>It is expected to be completed within 18 months of signing the contract, and will probably be built near a waste site at Abdallah Port. KCC will act as the project\u2019s investor and manager for 20 years, during which it will produce biogas, biofuel, fertilizers and other products.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/beeah-2\/\">BEEAH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/circular-economy\/\">circular economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/circularity\/\">circularity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/gcc\/\">GCC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/recycling\/\">recycling<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/united-arab-emirates\/\">United Arab Emirates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/waste-management\/\">waste management<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74230\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74231\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"74231\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/05\/nestle-to-the-rescue\/\">\r\n                            Nestl\u00e9 to the rescue                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/05\/nestle-to-the-rescue\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/climate\/2022\/10\/05\/nestle-to-the-rescue\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/climate\/2022\/10\/05\/nestle-to-the-rescue\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Nestl\u00e9 to the rescue&url=https:\/\/enterpriseam.com\/climate\/2022\/10\/05\/nestle-to-the-rescue\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/climate\/2022\/10\/05\/nestle-to-the-rescue\/&title=Nestl\u00e9 to the rescue\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Nestl%C3%A9+to+the+rescue+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F10%2F05%2Fnestle-to-the-rescue%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/05\/nestle-to-the-rescue\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/1916.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"74232\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/05\/nestle-to-the-rescue\/1916-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/1916.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1916.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/1916.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/1916.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74231\" class=\"content-area-description single-story post-74231 post type-post status-publish format-standard has-post-thumbnail hentry category-on-your-way-out tag-climate-change tag-coffee tag-enterpriseclimate tag-extreme-weather tag-nestle tag-on-your-way-out wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Nestl\u00e9 will invest USD 1 bn to save coffee from climate-related <\/strong><strong>threats. <\/strong>The world\u2019s largest coffee company, <a href=\"https:\/\/www.nestle.com\/\">Nestle<\/a>, has committed to investing upward of CHF 1 bn (USD 1 bn) to encourage sustainable farming among suppliers, as farmers contend with extreme weather and other climate change-related challenges, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-04\/nestle-commits-1-billion-to-protect-coffee-from-climate-threat?srnd=green&sref=mmeFTDW1\">Bloomberg<\/a> writes. The Swiss company, which works with upward of 500k farmers, will train them on best planting techniques and offer them cash incentives to take action to mitigate crop threats to improve soil health, plant fertility and optimize water usage. The company is looking to source all of its coffee responsibly by the middle of this decade, up from 82% in 2021.<\/p>\n<p><strong>Coffee-arable land is shrinking due to extreme weather, and coffee growers are taking the <\/strong><strong>hit<\/strong>, as <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/b21f40f8-395a-49a8-bb2b-a6931378deb8\">we noted<\/a> last week. One estimate predicted that the area suitable for growing coffee will shrink by almost 50% by 2050. Coffee growers have been among the most impacted by climate change, leading some foodtech innovators to explore <a href=\"https:\/\/enterprise.press\/stories\/2022\/02\/10\/first-veggie-burgers-now-sunflower-seed-coffee-64726\/\">beanless coffee<\/a>, which uses upcycled plant-based ingredients like sunflower seed husks and watermelon seeds (please, God, save us from Frankenfoods). Droughts followed by severe, unseasonal frost earlier this year in Brazil\u2019s coffee-growing regions <a href=\"https:\/\/enterprise.press\/stories\/2022\/01\/13\/how-supply-shortages-and-climate-change-will-affect-food-security-this-year-62676\/\">slashed<\/a> the country\u2019s arabica harvests by 40% and damaged trees, making it likely that next season\u2019s harvest will be affected as well.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/coffee\/\">coffee<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/extreme-weather\/\">extreme weather<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/nestle\/\">Nestl\u00e9<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/on-your-way-out\/\">ON YOUR WAY OUT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74233\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/05\/74233\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74233\" class=\"content-area-description single-story post-74233 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>OCTOBER<\/strong><\/p>\n<p>4-5 October (Tuesday- Wednesday): <a href=\"https:\/\/greenenergyafricasummit.com\/Home\">Green Energy Africa<\/a>, Cape Town International Convention Centre 2, South Africa.<\/p>\n<p>12 October (Wednesday): Top 50 Women Forum and Egyptian Institute of National Planning\u2019s <a href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/top-50-women-forum-launches-integrated-program-to-support-green-economy-transition-and-climate-action-umg21qxv\">Women Towards Sustainability seminar<\/a>, Egypt.<\/p>\n<p>16-19 October (Sunday-Wednesday): <a href=\"https:\/\/www.cairowaterweek.eg\/\">Cairo Water Week 2022<\/a>, Nile Ritz Carlton, Cairo.<\/p>\n<p>24-26 October (Monday-Wednesday): <a href=\"https:\/\/era.dz\/\">International Exhibition of Renewable Energies Clean Energies and Sustainable Development<\/a>, Centre Des Conventions Mohammed Ben Ahmed, Oran, Algeria.<\/p>\n<p>31 October (Monday): Deadline for proposals for Jordan\u2019s <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/18206ee2-c4a0-4f8c-8c1f-4f239e34f91b\">USD 2 bn Aqaba-Amman desalination project<\/a>.<\/p>\n<p>Approval of <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ea65a4f2-e77c-426b-8ad0-9120704954f6\">EU draft document<\/a> pushing countries participating in COP27 to improve their climate change targets.<\/p>\n<p><strong>NOVEMBER<\/strong><\/p>\n<p>Sustainability Forum Middle East is taking place in Bahrain.<\/p>\n<p>Nigeria hopes to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ea65a4f2-e77c-426b-8ad0-9120704954f6\">secure USD 10 bn<\/a> support package for green energy transition before COP27.<\/p>\n<p>7-18 November (Monday-Friday): Egypt will host <a href=\"https:\/\/www.cop27egy.com\/\">COP27<\/a> in Sharm El Sheikh.<\/p>\n<p>23-24 November (Wednesday-Thursday): <a href=\"https:\/\/www.facebook.com\/moegov.sa\/posts\/pfbid0HSxtqnTELrfrK4xaL84pnTsP9w4mjPCiPdAH2LA81efe7UXPbvjX64zynsc4zBnUl\">Global Conference on Sustainable Partnerships<\/a>, The Ritz-Carlton, Riyadh, Saudi Arabia.<\/p>\n<p>Deadline of bid submissions for the Ras Mohaisen - Baha \u2013 Makkah Independent Water Transmission Pipeline in Saudi Arabia.<\/p>\n<p><strong>COP27 sub-events:<\/strong><\/p>\n<p><a href=\"https:\/\/www.sustainable-markets.org\/terra-carta\/\">Terra Carta Action Forum<\/a> (2 days) organized by the Prince of Wales\u2019 Sustainable Markets Initiative.<\/p>\n<p>UNFCCC\u2019s <a href=\"https:\/\/unfccc.int\/capacity-building-hub\">capacity building hub<\/a>.<\/p>\n<p><strong>DECEMBER<\/strong><\/p>\n<p>13-15 December (Tuesday-Thursday): <a href=\"https:\/\/irec-conference.com\/\">International Renewable Energy Congress<\/a>, Hammamet, Tunisia.<\/p>\n<p>15 December (Thursday) The<a href=\"https:\/\/www.un.org\/en\/climatechange\/events\">UN\u2019s 15th meeting of the Conference of the Parties to the Convention on Biological Diversity<\/a> (COP15), Montreal, Canada.<\/p>\n<p><strong>JANUARY 2023<\/strong><\/p>\n<p>14-21 January (Saturday-Saturday): <a href=\"https:\/\/abudhabisustainabilityweek.com\/\">Abu Dhabi Sustainability Week<\/a> takes place in the UAE.<\/p>\n<p>16-18 January (Monday-Wednesday): <a href=\"https:\/\/www.neventum.com\/tradeshows\/ecowaste\">EcoWASTE<\/a>, Abu Dhabi National Exhibition Center (ADNEC), UAE.<\/p>\n<p><strong>FEBRUARY 2023<\/strong><\/p>\n<p>6-8 February (Monday-Wednesday): <a href=\"https:\/\/www.simec-expo.com\/\">Saudi International Marine Exhibition and Conference<\/a>, Hilton Riyadh, Saudi Arabia.<\/p>\n<p>The second edition of The Arab Green Summit (TAGS), Dubai, UAE<\/p>\n<p><strong>MARCH 2023<\/strong><\/p>\n<p>15-19 March (Wednesday-Sunday): <a href=\"https:\/\/agriteq.com\/en\/the-conference\/\">Qatar International Agricultural and Environmental Exhibition<\/a>, Doha, Qatar.<\/p>\n<p><strong>JUNE 2023<\/strong><\/p>\n<p>1-3 June (Thursday-Saturday): <a href=\"http:\/\/www.envirotecener-expo.com\/\">Envirotec and Energie Expo<\/a>, UTICA, Tunis, Tunisia.<\/p>\n<p><strong>SEPTEMBER 2023<\/strong><\/p>\n<p><a href=\"https:\/\/www.chariotenergygroup.com\/\">Chariot Limited<\/a> and <a href=\"https:\/\/www.total-eren.com\/\">Total Eren<\/a>\u2019s feasibility study on a 10 GW green hydrogen plant in Mauritania to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f1323428-033c-4ff9-a0b6-716f87613360\">be completed<\/a>.<\/p>\n<p><strong>NOVEMBER 2023<\/strong><\/p>\n<p>6-17 November (Monday-Friday): The UAE will host <a href=\"https:\/\/sdg.iisd.org\/events\/2022-un-climate-change-conference-unfccc-cop-28\/#:~:text=The%2028th%20session%20of%20the,in%20the%20United%20Arab%20Emirates.\">COP28<\/a>.<\/p>\n<p><strong>EVENTS WITH NO SET DATE<\/strong><\/p>\n<p><strong>End-2022 <\/strong><\/p>\n<p>KSA\u2019s Neom wants to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/41c4acda-ffa5-4e25-ae17-48b53fc7df69\">tender three concrete water reservoir<\/a> projects to up its water storage capacity by 6 mn liters.<\/p>\n<p><strong>2023 <\/strong><\/p>\n<p>Early 2023: Egypt\u2019s <a href=\"https:\/\/www.karmsolar.com\/\">KarmSolar<\/a> to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/afa55bc3-dec6-4f46-b806-25518b05cda1\">launch KarmCharge<\/a>, the company\u2019s EV charging venture.<\/p>\n<p>Mid-2023: Sale of Sembcorp Energy India Limited to consortium of Omani investors <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/dbe558b6-6166-404f-8aa3-2bd7b56647dd\">to close<\/a>.<\/p>\n<p>Phase C of the 900-MW of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai to <a href=\"https:\/\/enterprise.news\/egypt\/ar\/news\/story\/4e6652c1-2ac9-473b-b0a1-300d69de9a69\">be completed<\/a>.<\/p>\n<p>Saudi Basic Industries Corporation (<a href=\"https:\/\/www.sabic.com\/en\">Sabic<\/a>) steam cracker furnace powered by renewable energy to <a href=\"https:\/\/enterprise.news\/egypt\/ar\/news\/story\/2afaf853-a8d1-49e1-bce4-af9ac6dc7a93\">come online<\/a>.<\/p>\n<p><strong>2024 <\/strong><\/p>\n<p>End-2024: Emirati <a href=\"http:\/\/ar.ae\">Masdar<\/a>\u2019s 500 MW wind farm in Uzbekistan to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/13a804af-a659-4152-82b2-a3c920862f2b\">begin commercial operations<\/a>.<\/p>\n<p><a href=\"https:\/\/www.qatarenergy.qa\/en\/Pages\/Home.aspx\">QatarEnergy<\/a>\u2019s industrial cities solar power project <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/afa55bc3-dec6-4f46-b806-25518b05cda1\">will start electricity<\/a> production.<\/p>\n<p>First 1.5 GW phase of Morocco\u2019s <a href=\"https:\/\/xlinks.co\/morocco-uk-power-project\/\">Xlinks<\/a> solar and wind energy project to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/52aefc63-82e3-42e3-8afc-960461fa5288\">be operational<\/a>.<\/p>\n<p><strong>2025 <\/strong><\/p>\n<p>Second 1.5 GW phase of Morocco\u2019s <a href=\"https:\/\/xlinks.co\/morocco-uk-power-project\/\">Xlinks<\/a> solar and wind energy project to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/52aefc63-82e3-42e3-8afc-960461fa5288\">be operational<\/a>.<\/p>\n<p>UAE to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9ec60000-0539-4d85-baf5-5beaf020a34f\">have over 1k<\/a> EV charging stations installed.<\/p>\n<p><strong>2026 <\/strong><\/p>\n<p>1Q 2026: <a href=\"https:\/\/www.qatarenergy.qa\/en\/Pages\/Home.aspx\">QatarEnergy<\/a>\u2019s USD 1 bn blue ammonia plant <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/77469f6c-f938-4a97-8cac-3146b39b6cbe\">to be completed<\/a>.<\/p>\n<p>End-2026: HSBC Bahrain to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a2ead528-71fb-423b-a6f8-e18b2c9897d8\">eliminate single-use<\/a> PVC plastic cards.<\/p>\n<p>Iraq\u2019s <a href=\"http:\/\/www.massgroupholding.com\/English\/default.aspx\">Mass Group Holding<\/a> wants to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/0239be52-0fa8-43fd-8db9-68f967fb1529\">invest EUR 1 bn<\/a> on its thermal plant Mintia in Romania to have 62% of run on renewable energy, while expanding its energy capacity to at least 1.29k MWh.<\/p>\n<p><strong>2027<\/strong><\/p>\n<p>MENA\u2019s district cooling market is <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/59376411-8296-47dc-87cc-43ddc792bba4\">expected to reach<\/a> USD 15 bn.<\/p>\n<p><strong>2030 <\/strong><\/p>\n<p>UAE\u2019s Abu Dhabi Commercial Bank (ADCB) wants to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ea65a4f2-e77c-426b-8ad0-9120704954f6\">provide AED 35 bn<\/a> in green financing.<\/p>\n<p>UAE <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a9c832ed-f423-479e-884d-90cabefe3a0b\">targets 14 GW<\/a> in clean energy capacity.<\/p>\n<p>Tunisia <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/7c5659c7-cf17-4cd6-9d18-c8afb5c643fb\">targets 30%<\/a> of renewables in its energy mix.<\/p>\n<p>Qatar wants to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/7881b1d2-724a-4914-ba85-0545e72901c9\">generate USD 17 bn<\/a> from its circular economy, creating 9k-19k jobs.<\/p>\n<p>Morocco\u2019s <a href=\"https:\/\/xlinks.co\/morocco-uk-power-project\/\">Xlinks<\/a> solar and wind energy project to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/52aefc63-82e3-42e3-8afc-960461fa5288\">generate 10.5 GW<\/a> of energy.<\/p>\n<p><strong>2035 <\/strong><\/p>\n<p>Qatar to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/77469f6c-f938-4a97-8cac-3146b39b6cbe\">capture up to 11 mn tons<\/a> of CO2 annually.<\/p>\n<p><strong>2045 <\/strong><\/p>\n<p>Qatar\u2019s Public Works Authority\u2019s (Ashghal) USD 1.5 bn sewage treatment facility to reach 600k cm\/d capacity.<\/p>\n<p><strong>2060 <\/strong><\/p>\n<p>Nigeria aims to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ea65a4f2-e77c-426b-8ad0-9120704954f6\">achieve its net-zero<\/a> emissions target.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":74223,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-74222","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"d3adba1a-e5ea-4389-bac9-495a286d3dbd","teaser":"","photo_url":"https:\/\/ent.news\/2021\/2\/123.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The GCC can\u2019t get enough of its renewables M&amp;A spree. - Climate<\/title>\n<meta name=\"robots\" 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