{"id":74576,"date":"2022-11-01T01:52:31","date_gmt":"2022-11-01T01:52:31","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=74576"},"modified":"2025-12-15T08:04:47","modified_gmt":"2025-12-15T08:04:47","slug":"climate-finance-gets-a-push","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/climate-finance-gets-a-push\/","title":{"rendered":"Climate finance gets a push"},"content":{"rendered":"<section id=\"74578\" 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=\"74578\">\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\/11\/01\/today-uaes-empower-prices-its-share-ahead-of-ipo-egypt-lands-usd-2-bn-to-shore-up-food-security-jordan-receives-usd-10-mn-in-green-financing-for-smes\/\">\r\n                            TODAY: UAE\u2019s Empower prices its share ahead of IPO + Egypt lands USD 2 bn to shore up food security + Jordan receives USD 10 mn in green financing for SMEs                        <\/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 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href=\"https:\/\/api.whatsapp.com\/send?text=TODAY%3A+UAE%E2%80%99s+Empower+prices+its+share+ahead+of+IPO+%2B+Egypt+lands+USD+2+bn+to+shore+up+food+security+%2B+Jordan+receives+USD+10+mn+in+green+financing+for+SMEs+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F01%2Ftoday-uaes-empower-prices-its-share-ahead-of-ipo-egypt-lands-usd-2-bn-to-shore-up-food-security-jordan-receives-usd-10-mn-in-green-financing-for-smes%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\/11\/01\/today-uaes-empower-prices-its-share-ahead-of-ipo-egypt-lands-usd-2-bn-to-shore-up-food-security-jordan-receives-usd-10-mn-in-green-financing-for-smes\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74578\" class=\"content-area-description single-story post-74578 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-cop27 tag-egypt tag-enterpriseclimate tag-evs tag-food-security tag-green-finance tag-greenwashing tag-jordan tag-mena tag-renewables tag-sczone tag-uae 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, friends.<\/strong> We have a stacked issue for you this morning, with a little bit of everything from capital markets updates to a slew of financing news.<\/p>\n<p><strong>THE BIG CLIMATE STORY- <\/strong>It\u2019s a big day for climate finance in the region: Egypt landed a USD 2 bn loan to shore up its food security, while Jordan received USD 10 mn in green financing for on-lending to SMEs specialized in climate change adaptation and mitigation tech and services.<\/p>\n<p><strong>MEANWHILE- <\/strong>The UAE\u2019s Empower is out with an indicative price range ahead of its debut on the DFM on 16 November.<\/p>\n<p><strong>AND- We have the results of our Enterprise Reader Survey on the appetite for<\/strong><strong> electric vehicles in Egypt<\/strong>, which has promising results.<\/p>\n<p>^^ We have all the details in our news well below.<\/p>\n<hr class=\"grey-line\">\n<p><strong>THE COUNTDOWN TO COP <\/strong><strong>(5 days to go)<\/strong><strong>- <\/strong><\/p>\n<p><strong>Egypt\u2019s Suez Canal Authority (SCA) will announce incentives for hydrogen-powered <\/strong><strong>ships during COP27<\/strong>, SCA head Osama Rabea said during an interview with Egyptian talk show Haza Al Sabah. (<a href=\"https:\/\/youtu.be\/g_P0gygsRKk?t=75\">watch, runtime 00:01:16<\/a>). The incentives will include reduced tariffs aiming to accelerate the transition from fossil fuels. LNG-powered ships will also be eligible for the tariff reductions, Rabea says.<\/p>\n<p><strong>The UK\u2019s left-leaning Guardian is ramping up pressure on developed and developing <\/strong><strong>countries<\/strong><strong> alike <\/strong>in the final days before COP. You can expect this to become a media pile-on any day now.<\/p>\n<p><strong>The US is under-investing in climate, over-investing in hydrocarbons in Africa: <\/strong>The US has poured USD 9 bn into oil and gas projects on the continent since the Paris Agreement in 2015 despite commitments to stop investments in fossil fuels, <a href=\"https:\/\/www.theguardian.com\/environment\/2022\/oct\/31\/two-thirds-of-us-money-for-fossil-fuel-pours-into-africa-despite-climate-goals\">the Guardian<\/a> reports. Only USD 682 mn have been invested in renewables like solar and wind over the same time period, despite Africa\u2019s immense solar potential.<\/p>\n<p><strong>Swedish climate activist Greta Thunberg will not be attending COP27, saying global <\/strong><strong>leaders use the conference as a chance for \u201cgreenwashing,\u201d<\/strong> <a href=\"https:\/\/www.theguardian.com\/environment\/2022\/oct\/31\/greta-thunberg-to-skip-greenwashing-cop27-climate-summit-in-egypt\">the newspaper adds<\/a>. The annual climate conferences are unlikely to yield any significant transformation or \u201cchange the whole system,\u201d but they do have potential \u201cas a [chance] to mobilize,\u201d the young activist said at her book signing in London.<\/p>\n<p><strong>Greenpeace<\/strong><strong> lands in Egypt: <\/strong>A <a href=\"https:\/\/www.greenpeace.org\/international\/\">Greenpeace<\/a> sailing ship docked in Hurghada this week in what organizers said was a bid to raise awareness about climate change ahead of COP27, the organization announced in a <a href=\"https:\/\/ent.news\/2022\/10\/1424.pdf\">statement (pdf)<\/a> yesterday. Greenpeace is interesting in drawing attention to climate finance and the debate about loss and damage compensation for developing economies.<\/p>\n<p><strong>KEY COP DATES-<\/strong><\/p>\n<ul>\n<li>World leaders\u2019 summit: 7-8 November (more details <a href=\"https:\/\/bit.ly\/3Nm4VbG\">here<\/a>)<\/li>\n<li>Finance day: 9 November<\/li>\n<li>Decarbonization day: 11 November<\/li>\n<li>Adaptation and agriculture day: 12 November<\/li>\n<li>Water day: 14 November<\/li>\n<li>Energy day: 15 November<\/li>\n<\/ul>\n<p><strong>Detailed schedule: <\/strong><a href=\"https:\/\/cop27.eg\/assets\/files\/COP27-PRESIDENCY-VISION-THEMATIC-DAYS-FULL-PROGRAM-New.pdf\">Download as a pdf here<\/a> or check out <a href=\"https:\/\/bit.ly\/3Nm4VbG\">the website here<\/a>.<\/p>\n<p><strong>COP27 app for attendees:<\/strong> <a href=\"https:\/\/apps.apple.com\/gb\/app\/cop27\/id1632885226\">App Store<\/a> and the <a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.mcit.cop27\">Google Play Store<\/a>.<\/p>\n<p><strong>HAPPENING TODAY- <\/strong><\/p>\n<p><strong>In Abu Dhabi:<\/strong> Day two of Adipec kicks off, gathering some 40 ministers from around the world including the UAE, Kuwait, Bahrain, and Egypt. Discussions will partly focus on the transition toward carbon neutrality. Hosted by Adnoc, Adipec bills itself as \u201cthe world's most influential gathering for energy industry professionals.\u201d The event will run through this Thursday, 3 November. <a href=\"https:\/\/www.adipec.com\/visit\/registration\/?utm_source=media-partner&utm_medium=email&utm_term=&utm_content=visitor-pass&utm_campaign=media-partner&actioncode=\">Tap or click here to register<\/a>.<\/p>\n<p><strong>In Amman:<\/strong> It\u2019s the final day of the International Investment Forum for Renewable Energy and Energy Efficiency in MENA. Organized by the <a href=\"https:\/\/arec.org.jo\/en\/\">Arab Renewable Energy Commission<\/a>, the three-day event tackles renewable energy, energy efficiency, smart cities and grids, green hydrogen and sustainability.<\/p>\n<p><strong>In Cairo:<\/strong> The three-day Egypt Energy Conference is also on its last day. The event includes three smaller conferences on power generation, transmission, and distribution; sustainability and clean energy; and PPP, foreign investment, and energy funding. Some 120 startups and global exhibiting companies will attend the conference, according to organizers. You can register for the event <a href=\"https:\/\/registration.gesevent.com\/survey\/0nbdqtqfc55nn?actioncode=WEB01\">here<\/a>.<\/p>\n<hr class=\"grey-line\">\n<p><strong>THE GREAT DEBATE- \u201cThe world demands maximum energy production with <\/strong><strong>minimum emissions,\u201d <\/strong><a href=\"https:\/\/www.adnoc.ae\/\">Adnoc<\/a> CEO Sultan Al-Jaber told attendees at the Abu Dhabi International Petroleum Exhibition and Conference yesterday, <a href=\"https:\/\/www.arabnews.com\/node\/2191146\/business-economy\">Arab News<\/a> reports. Al-Jaber said zeroing out investment in hydrocarbon exploration and production could lead to a loss of 5 mn barrels of oil per day annually, extending the energy shock experienced of this past year.<\/p>\n<p><strong>The UAE and KSA are not ready to give up on fossil fuels yet<\/strong> with senior officials from both countries arguing for continued fossil fuel investment, saying that current renewables capacity cannot meet growing demand, as <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/57b63b2a-c61b-42cb-b4c8-817522ccef88\">we reported previously<\/a>.<\/p>\n<p><strong>In parallel, Adnoc is pushing ahead talks with other big hydrocarbon players about a green future: <\/strong>Adnoc Chairman Sheikh Khaled bin Mohamed bin Zayed Al Nahyan met with the CEOs of London-headquartered oil company BP and Japanese oil firm Inpex to discuss energy security and accelerating the energy transition, <a href=\"https:\/\/wam.ae\/en\/details\/1395303096233\">WAM<\/a> reports. The talks touched on ways to drive more cooperation in lower carbon energy solutions and expanding partnerships for renewables and hydrogen projects, WAM notes.<\/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>***<br \/>\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<p>***<\/p>\n<hr class=\"grey-line\">\n<p><strong>WHAT CLIMATE IS COSTING BUSINESS-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>The climate crisis has increased heat-related deaths and the <\/strong><strong>spread of infectious disease,<\/strong> according to <a href=\"https:\/\/www.thelancet.com\/action\/showPdf?pii=S0140-6736%2822%2901540-9\">a report (pdf)<\/a> published last week by medical journal <a href=\"https:\/\/www.thelancet.com\/\">The Lancet<\/a>. Produced by nearly 100 experts from 51 institutions across the globe, the report finds heat-related deaths in the most vulnerable \u2014 babies under a year old and adults over 65 \u2014 have increased by 68% over the last four years compared with 2000-2004.<\/p>\n<p><strong>Extreme heat has slashed productivity with some 470 bn labor hours lost globally in 2021 alone<\/strong> \u2014 bringing estimated economic losses of USD 700 bn and contributing to growing food insecurity and hunger. The transmission of infectious diseases \u2014 including malaria and dengue fever \u2014 has also seen a sizable increase in the past decade, compared with the 1950s.<\/p>\n<p><strong>MEANWHILE- <\/strong><strong>Morocco and Egypt are among the worst regionally for children\u2019s exposure <\/strong><strong>to climate and <\/strong><strong>environmental shocks<\/strong>, according to the <a href=\"https:\/\/ent.news\/2022\/10\/CCRI-Childrens-Climate-Risk-Index-Egypt-Report-2022-English.pdf\">UNICEF Children\u2019s Climate Risk Index (pdf)<\/a>. The two countries have the highest levels of exposure to heat waves in the region, while Jordan had the lowest regional exposure. In Egypt, temperatures rose 0.53\u00b0C on average every 10 years over the past 30 years, the report says.<\/p>\n<p><strong>CIRCLE YOUR CALENDAR- <\/strong><\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/www.hawkamah.org\/event\/5233\">Hawkamah Annual Conference (Building Investor Confidence Through Governance)<\/a><\/strong> will kick off on Tuesday, 15 November in <strong>Du<\/strong><strong>bai<\/strong>. The conference will address governance from the perspective of investors including expectations and interaction with boards as well as the role of regulators and companies in preparing for IPOs to attract the right investors.<\/p>\n<p><strong>Saudi Arabia\u2019s Education Ministry will host the <\/strong><strong><a href=\"https:\/\/www.facebook.com\/moegov.sa\/posts\/pfbid0HSxtqnTELrfrK4xaL84pnTsP9w4mjPCiPdAH2LA81efe7UXPbvjX64zynsc4zBnUl\">Global Conference on Sustainable<\/a><\/strong><strong><a href=\"https:\/\/www.facebook.com\/moegov.sa\/posts\/pfbid0HSxtqnTELrfrK4xaL84pnTsP9w4mjPCiPdAH2LA81efe7UXPbvjX64zynsc4zBnUl\">Partnerships<\/a><\/strong> on Wednesday, 23 November to Thursday, 24 November in Riyadh, bringing together ministers and senior officials from the private and public sectors. The conference will focus on transforming innovations and scientific research to achieve integration between universities, research, development and the innovation sector.<\/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\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/food-security\/\">food security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-finance\/\">green finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/greenwashing\/\">Greenwashing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/jordan\/\">Jordan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/mena\/\">MENA<\/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\/sczone\/\">SCzone<\/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\/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=\"74579\" 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    <\/h4>\r\n\r\n    <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide mx-auto\">\r\n        <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/25497.png?ssl=1\">\r\n        <div class=\"overlay\"><\/div>\r\n        <div class=\"content\">\r\n            <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/25398.svg\" alt=\"\">\r\n            <\/a>\r\n            <span>Opening up a world of opportunity<\/span>\r\n        <\/div>\r\n    <\/div>\r\n\r\n      <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74580\" 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=\"74580\">\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\">POLL<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/01\/egyptian-consumers-are-bullish-on-evs-with-1-in-5-looking-to-buy-an-ev-in-the-next-year\/\">\r\n                            Egyptian consumers are bullish on EVs, with 1 in 5 looking to buy an EV in the next year                        <\/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\/11\/01\/egyptian-consumers-are-bullish-on-evs-with-1-in-5-looking-to-buy-an-ev-in-the-next-year\/\" 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\" 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src=\"https:\/\/i0.wp.com\/ent.news\/2020\/2\/Electric-car-1600px.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"74581\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/01\/egyptian-consumers-are-bullish-on-evs-with-1-in-5-looking-to-buy-an-ev-in-the-next-year\/electric-car-1600px-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/2\/Electric-car-1600px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"Electric-car-1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/2\/Electric-car-1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/2\/Electric-car-1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74580\" class=\"content-area-description single-story post-74580 post type-post status-publish format-standard has-post-thumbnail hentry category-poll tag-automotive tag-emissions tag-enterpriseclimate tag-environment tag-evs tag-poll 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-05\"><\/a> <strong>Egypt\u2019s EV industry still has a long way to go \u2014 but you folks seem eager <\/strong><strong>for the<\/strong> <strong>transition: <\/strong>As Egypt begins to make strides in <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/d8c44e38-2cea-4dc5-ba60-de5aac32a3fa\">developing a local electric vehicle industry<\/a> and the <a href=\"https:\/\/enterprise.press\/stories\/2021\/06\/17\/infinity-to-lead-ev-infrastructure-development-as-egypt-gears-up-to-put-electric-vehicles-on-the-road-44648\/\">infrastructure<\/a> to power it, Enterprise readers are excited: 90% of you are planning to buy a EV within the the next 10 years \u2014 and one in five respondents said they\u2019ll make a purchase in the next 12 months.<\/p>\n<p><strong>Before we get into it, what\u2019s the current state of the country\u2019s EV industry?<\/strong> Egypt\u2019s industry is still nascent, with its first locally manufactured EV <a href=\"https:\/\/enterprise.press\/stories\/2022\/01\/12\/egypt-to-see-its-first-locally-assembled-ev-in-2023-62537\/\">expected sometime next year<\/a> \u2014 and that is only after a <a href=\"https:\/\/enterprise.press\/stories\/2022\/09\/05\/el-nasr-could-sign-final-contracts-to-produce-evs-next-month-80313\/\">protracted search<\/a> for a partner with which state-owned El Nasr Automotive can produce the EVs ends. On the infrastructure side, the government is still working on <a href=\"https:\/\/enterprise.press\/stories\/2021\/06\/21\/tuk-tuk-owners-should-be-able-to-swap-their-vehicles-for-natgas-microbuses-next-month-we-have-a-price-tag-for-evs-infrastructure-45578\/\">plans to establish a nationwide charging network<\/a> \u2014 with our friends at renewable energy player Infinity working to set up 6k vehicle charging points at 3k stations across the country. In other efforts to advance the industry, Egypt\u2019s House of Representatives just gave its final approval to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/d8c44e38-2cea-4dc5-ba60-de5aac32a3fa\">a bill<\/a> that will establish a new regulatory body to set policy for auto assembly in the country, including EVs, and provide financial incentives for manufacturers.<\/p>\n<p><strong>Meanwhile: EVs enter the country with zero customs duties. <\/strong>They\u2019re not supported by full authorized aftersales service operation, but we\u2019re aware of at least two importers with stock of Tesla and Volkswagen EVs for sale in the capital city.<\/p>\n<p class='web-image'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/Do-you-own-ev-1600px-en.jpg?ssl=1\" alt='enterprise'><\/p>\n<p><strong>Only a handful of you own an electric car:<\/strong> A whopping 96.9% of you do not own an electric car, but some 20.6% know someone who does, indicating a small but budding trend.<\/p>\n<p class='web-image'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/Consider-buying-ev-1600px-en.jpg?ssl=1\" alt='enterprise'><\/p>\n<p><strong>More than 90% of you intend to buy an electric car at<\/strong><strong> some point over the next decade.<\/strong> Some 20.2% of you intend to buy one in the next year, around 22.1% could go for one within three years, while 30.5% are considering buying one in five years, and another 18.7% said they would buy one after ten years.<\/p>\n<p><strong>Only 7.4% of you have ruled it out for good<\/strong>, citing reasons including a lack of charging infrastructure and doubts over the actual \u201cgreenness\u201d of the industry.<\/p>\n<p><strong>The law of big numbers: <\/strong>Respondents to our poll in Enterprise Climate and EnterpriseAM are, by definition, at the top of the wealth pyramid \u2014 EVs are in no danger of going \u201cmass\u201d anytime soon. But think of it in these terms: If at least 5% of the population can afford to buy an EV (likely an underestimation, in our view), that means <strong>the addressable market for the vehicles in Egypt is roughly the same size as the entire population of Denmark, Ireland, Finland or Norway. <\/strong>And thanks to under-motorization and the continued growth of the middle class, the Egyptian passenger car market in 2021 was nearly 2x the size of Ireland\u2019s.<\/p>\n<p class='web-image'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/Would-encourage-you-1600px-en.jpg?ssl=1\" alt='enterprise'><\/p>\n<p><strong>What could motivate you to hop on the EV bandwagon sooner? <\/strong>More than two thirds of you (67.5%) would choose to buy an electric car if they were cheaper, and some 59.7% want there to be more charging points in their area before they make the switch. About 48.8% percent want electric cars to charge faster, while 42.5% are hoping for more models to become available in the market. Around 42.8% want there to be more spare parts available for EVs, and a quarter of you care about better performance.<\/p>\n<p class='web-image'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/Natgas-or-ev-1600px-en.jpg?ssl=1\" alt='enterprise'><\/p>\n<p><strong>If you do make the switch, a majority of you (55.8%) would go for a hybrid car <\/strong>over a fully electric one, with most saying they want the extra cushion of a combustion engine in case there are no EV charging stations around. Both hybrid and fully electric cars are much more popular among you lot than a natgas- or dual-fuel-run car, with just 3.8% of respondents choosing it over the other two options.<\/p>\n<p class='web-image'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/Natgas-or-gasoline-1600px-en.jpg?ssl=1\" alt='enterprise'><\/p>\n<p><strong>In fact, most of you seem to dislike natgas-run cars<\/strong>, with three quarters of respondents saying they would stick with a gasoline-run car over a natgas-run or dual-fuel one if they were not able to buy an EV.<\/p>\n<p><strong>Why do you dislike natgas-powered cars? <\/strong>Loss of trunk space, where the CNG cylinder goes.<\/p>\n<p class='web-image'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/main-reasons-1600px-en.jpg?ssl=1\" alt='enterprise'><\/p>\n<p><strong>But you are an environmentally conscious lot: <\/strong>Some 43.7% of you say you would buy an electric car for their environmental benefits. More than 34% had look at the money, saying they would go the EV route so they could save on fuel. Only 21.8% would choose to buy an EV to stay up to date with the latest technology, while an even smaller minority would choose an electric car for its resale value.<\/p>\n<p class='web-image'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/Future-1600px-en.jpg?ssl=1\" alt='enterprise'><\/p>\n<p><strong>A wide majority of you (85.4%) believes electric vehicles are the future.<\/strong> That\u2019s much more than the 5.3% of you that don\u2019t see EVs dominating the automotive industry in the coming years.<\/p>\n<p><strong>Plenty of you have your eyes on a Tesla:<\/strong> Some 24% said they would opt for a Tesla if they chose to buy an electric car. Other EV makers getting interest were Mercedes, BMW, Volvo, Volkswagen, and Toyota. Many survey takers were unaware of the options available in the local market, while others said they are waiting for more models to drop.<\/p>\n<p><strong>A handful of you just don\u2019t plan on owning cars at all in a few years<\/strong>, choosing instead to opt for Uber or rentals. A number of you also think owning a regular car \u2014 let alone an electric one \u2014 at this point is just too expensive, while others are holding out hope for an improvement in public transport infrastructure down the line.<\/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\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/emissions\/\">emissions<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/environment\/\">environment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/poll\/\">POLL<\/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=\"74582\" 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=\"74582\">\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\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/01\/uaes-empower-announces-price-range-for-its-ipo\/\">\r\n                            UAE\u2019s Empower announces price range for its IPO                        <\/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\/11\/01\/uaes-empower-announces-price-range-for-its-ipo\/\" 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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The transaction will see 10% \u2014 or some <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f77e35c5-bad2-4263-a58c-ff151bdfe34d\">1 bn ordinary shares<\/a> \u2014 of the company sold on the Dubai Financial Market (DFM). The indicative price range values the company, pre-offering, at between AED 13.1 bn and 13.3 bn (USD 3.5-3.6 bn)<\/p>\n<p><strong>Who\u2019s selling?<\/strong> Majority shareholder <a href=\"http:\/\/www.dewa.gov.ae\/en\">Dubai Electricity and Water Authority<\/a> (DEWA) is contributing 7 percentage points of their stake and <a href=\"https:\/\/www.difc.ae\/public-register\/ema-power-investment-limited\/\">Emirates Power Investment<\/a> (a <a href=\"https:\/\/dubaiholding.com\/en\/\">Dubai Holding<\/a> subsidiary) is offering 3 percentage points. Following the offering, DEWA will hold a 63% stake and Emirates Power\u2019s stake will be 27%.<\/p>\n<p><strong>Who\u2019s buying?<\/strong> <a href=\"https:\/\/www.swfinstitute.org\/profile\/623d41ca5f8f2f0c11198342\">UAE Strategic Investment Fund<\/a>, <a href=\"https:\/\/shamalholding.com\/\">Shamal Holding<\/a>, and <a href=\"https:\/\/www.pension.gov.ae\/en-us\/pages\/default.aspx\">Abu Dhabi Pension<\/a><a href=\"https:\/\/www.pension.gov.ae\/en-us\/pages\/default.aspx\">Fund<\/a> are set to become key investors in the IPO with a commitment of up to AED 335 mn, according to Empower\u2019s price range release.<\/p>\n<p><strong>The timeline:<\/strong> The subscription period kicked off yesterday and will close next Monday, 7 November for UAE retail investors and Tuesday, 8 November for other qualified investors. Following the bookbuilding process, the final offer price will be set next Wednesday, 9 November. The company\u2019s shares are expected to begin trading on the DFM on 16 November, according to the statement.<\/p>\n<p><strong>Empower is one of 10 state-owned firms to list as part of the Dubai government\u2019s<\/strong><strong> privatization program<\/strong>, as <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f77e35c5-bad2-4263-a58c-ff151bdfe34d\">we reported previously<\/a>.<\/p>\n<p><strong>ADVISORS-<\/strong> Empower appointed Merrill Lynch, Citigroup and Emirates NBD as joint global coordinators on its IPO, with our friends at EFG Hermes acting as joint bookrunner. Moelis and Emirates NBD are acting as financial advisers. Emirates NBD is the lead receiving bank for the transaction, while our friends at Mashreq Bank are receiving bank alongside Abu Dhabi Islamic Bank, Ajman Bank, Commercial Bank of Dubai, Dubai Islamic Bank, Emirates Islamic Bank, First Abu Dhabi Bank, MBank, and Sharjah Islamic Bank.<\/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\/abu-dhabi-pension-fund\/\">Abu Dhabi Pension Fund<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/difc\/\">DIFC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/empower\/\">Empower<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/shamal-holding\/\">Shamal Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae-strategic-investment-fund\/\">UAE Strategic Investment Fund<\/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=\"74584\" 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=\"74584\">\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\">CLIMATE FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/01\/egypt-lands-usd-2-bn-loan-to-shore-up-food-security\/\">\r\n                            Egypt lands USD 2 bn loan to shore up food security                        <\/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\/11\/01\/egypt-lands-usd-2-bn-loan-to-shore-up-food-security\/\" 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\/11\/01\/egypt-lands-usd-2-bn-loan-to-shore-up-food-security\/')\">\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\/11\/01\/egypt-lands-usd-2-bn-loan-to-shore-up-food-security\/\">\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=Egypt lands USD 2 bn loan to shore up food security&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/01\/egypt-lands-usd-2-bn-loan-to-shore-up-food-security\/\">\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\/11\/01\/egypt-lands-usd-2-bn-loan-to-shore-up-food-security\/&title=Egypt lands USD 2 bn loan to shore up food security\">\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=Egypt+lands+USD+2+bn+loan+to+shore+up+food+security+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F01%2Fegypt-lands-usd-2-bn-loan-to-shore-up-food-security%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\/11\/01\/egypt-lands-usd-2-bn-loan-to-shore-up-food-security\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/136.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"74585\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/01\/egypt-lands-usd-2-bn-loan-to-shore-up-food-security\/136-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/136.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"136.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/136.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/136.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74584\" class=\"content-area-description single-story post-74584 post type-post status-publish format-standard has-post-thumbnail hentry category-climate-finance tag-afdb tag-agriculture tag-climate-finance tag-enterpriseclimate tag-european-bank-for-reconstruction-and-development tag-green-finance tag-international-fund-for-agricultural-development tag-nexus-of-water-food-and-energy 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-02\"><\/a> <strong>Egypt will receive USD 2 bn to boost food security:<\/strong> The UN\u2019s International Fund for Agricultural Development (<a href=\"https:\/\/www.ifad.org\/en\/\">IFAD<\/a>) is providing Egypt with a USD 2 bn loan to boost investment in food, energy, and water, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-31\/egypt-will-get-2-billion-from-ifad-to-boost-its-food-security#xj4y7vzkg\">Bloomberg<\/a>reports. The funds will be provided to the Egyptian government until 2030.<\/p>\n<p><strong>Where is the money going?<\/strong> The funds will be disbursed through a new program \u2014 the Nexus of Water, Food and Energy (<a href=\"https:\/\/www.youm7.com\/story\/2022\/7\/11\/%D9%85%D8%A7-%D9%87%D9%88-%D8%A8%D8%B1%D9%86%D8%A7%D9%85%D8%AC-%D9%86%D9%88%D9%81%D9%89-%D9%84%D8%AC%D8%B0%D8%A8-%D8%A7%D9%84%D8%AA%D9%85%D9%88%D9%8A%D9%84%D8%A7%D8%AA-%D9%88%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D9%84%D9%85%D8%B4%D8%B1%D9%88%D8%B9%D8%A7%D8%AA-%D8%A7%D9%84%D8%AA%D9%86%D9%85%D9%8A%D8%A9-%D8%A7%D9%84%D8%AE%D8%B6%D8%B1%D8%A7%D8%A1\/5833497\">NWFE<\/a>) \u2014 that\u2019s <a href=\"https:\/\/www.sis.gov.eg\/Story\/169930\/Egypt-aspires-to-present-success-story-in-COP27?lang=en-us\">set to be unveiled<\/a> at COP27. IFAD will \u201clead coordination\u201d of the food part of the program, which is set to target \u201cproduction, food storage and food transportation\u201d and will connect markets with \u201csmallholder\u201d farmers, Bloomberg cited IFAD President Alvario Lario as saying in an interview last week. The European Bank for Reconstruction and Development (<a href=\"https:\/\/www.ebrd.com\/\">EBRD<\/a>) will oversee the <a href=\"https:\/\/enterprise.press\/stories\/2022\/10\/20\/what-to-expect-from-ebrd-at-cop27-84607\/\">energy part<\/a> of the program and the African Development Bank (<a href=\"https:\/\/www.afdb.org\/en\">AfDB<\/a>) will oversee water, Bloomberg added. The EBRD is pledging USD 1 bn to the private sector to support bringing 10 GW of renewable energy online, and another USD 300 mn in concessional or IFI financing to support the grid, EBRD Egypt head Khalid Hamza <a href=\"https:\/\/enterprise.press\/stories\/2022\/10\/20\/what-to-expect-from-ebrd-at-cop27-84607\/\">told EnterpriseAM<\/a> in October.<\/p>\n<p><strong>The funds will target small-scale, rural farmers in Egypt<\/strong>, Bloomberg noted. Small-scale farmers currently receive only 1.7% of global climate finance, though they produce one-third of the world\u2019s food, it added, citing IFAD.<\/p>\n<p><strong>Background:<\/strong> NWFE is the mechanism by which Egypt\u2019s International Cooperation Ministry will promote its pipeline of low-carbon projects to investors, <a href=\"https:\/\/enterprise.press\/stories\/2022\/08\/21\/this-morning-introducing-our-newest-pillar-advertiser-a-lot-of-climate-events-are-taking-place-this-week-78525\/\">EnterpriseAM reported<\/a> in August. It <a href=\"https:\/\/enterprise.press\/stories\/2022\/09\/08\/ebrd-could-commit-usd-1-3-bn-to-egypt-clean-energy-projects-80700\/\">got props<\/a> from US climate envoy John Kerry for having \u201cthe potential to attract bns in investments from donor governments, philanthropy, development finance institutions and the private sector.\u201d<\/p>\n<p><strong>IN CONTEXT- Climate change has hit Egypt\u2019s agriculture sector hard recently: <\/strong>Egypt\u2019s olive production fell by some 60-80% last season thanks to an unusually warm 2020-2021 winter, while the long 2021-2022 winter adversely affected the crop\u2019s pollination and pruning process, local farmers <a href=\"https:\/\/enterprise.press\/greeneconomys\/the-year-so-far-in-agriculture\/\">told EnterpriseAM<\/a>. Mango production took a 40% hit <a href=\"https:\/\/enterprise.press\/greeneconomys\/climate-change-hitting-egypts-mango-olive-farmers\/\">last year<\/a> on the back of a Ramadan heatwave, though it recovered in 2022. <a href=\"https:\/\/enterprise.press\/greeneconomys\/climate-change-is-threatening-the-future-of-our-dairy-farms\/\">Egypt\u2019s dairy industry<\/a> has been hit by climate change-induced extreme heat \u2014 which affects the growth, milk production, and reproductive rates of cattle, and growing conditions for livestock feed. And even honey production has taken a knock, with one local farmer estimating that it fell to about half its usual rate <a href=\"https:\/\/enterprise.press\/greeneconomys\/climate-change-putting-egypts-honey-industry-threat\/\">this year<\/a>.<\/p>\n<p><strong>ON A WIDER SCALE- Global farming productivity is expected to decline by some 15%<\/strong><strong> globally by 2050 due to rising temperatures and weather instability<\/strong>, <a href=\"https:\/\/www.fao.org\/neareast\/news\/view\/en\/c\/1530039\/\">according to<\/a> the UN Food and Agriculture Organization.<\/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\/afdb\/\">AfDB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-finance\/\">climate finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/european-bank-for-reconstruction-and-development\/\">European Bank for Reconstruction and Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-finance\/\">green finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/international-fund-for-agricultural-development\/\">International Fund for Agricultural Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/nexus-of-water-food-and-energy\/\">Nexus of Water Food and Energy<\/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=\"74586\" 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=\"74586\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">CLIMATE FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/01\/green-finance-for-jordans-smes-courtesy-of-the-ebrd-eu-and-gcf\/\">\r\n                            Green finance for Jordan\u2019s SMEs, courtesy of the EBRD, EU and GCF                        <\/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\/11\/01\/green-finance-for-jordans-smes-courtesy-of-the-ebrd-eu-and-gcf\/\" 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\/11\/01\/green-finance-for-jordans-smes-courtesy-of-the-ebrd-eu-and-gcf\/')\">\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\/11\/01\/green-finance-for-jordans-smes-courtesy-of-the-ebrd-eu-and-gcf\/\">\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=Green finance for Jordan\u2019s SMEs, courtesy of the EBRD, EU and GCF&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/01\/green-finance-for-jordans-smes-courtesy-of-the-ebrd-eu-and-gcf\/\">\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\/11\/01\/green-finance-for-jordans-smes-courtesy-of-the-ebrd-eu-and-gcf\/&title=Green finance for Jordan\u2019s SMEs, courtesy of the EBRD, EU and GCF\">\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=Green+finance+for+Jordan%E2%80%99s+SMEs%2C+courtesy+of+the+EBRD%2C+EU+and+GCF+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F01%2Fgreen-finance-for-jordans-smes-courtesy-of-the-ebrd-eu-and-gcf%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\/11\/01\/green-finance-for-jordans-smes-courtesy-of-the-ebrd-eu-and-gcf\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/ebrd-1600px.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"74587\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/01\/green-finance-for-jordans-smes-courtesy-of-the-ebrd-eu-and-gcf\/ebrd-1600px-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/ebrd-1600px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"ebrd-1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/ebrd-1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/ebrd-1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74586\" class=\"content-area-description single-story post-74586 post type-post status-publish format-standard has-post-thumbnail hentry category-climate-finance tag-cairo-amman-bank tag-climate-finance tag-ebrd tag-enterpriseclimate tag-eu tag-gcf tag-geff tag-green-finance tag-jordan 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-03\"><\/a> <strong>Jordan\u2019s SMEs in line for USD 10 mn in EBRD-led climate financing:<\/strong> The European Bank for Reconstruction and Development (EBRD) and the Green Climate Fund (GCF) are providing a USD 10 mn loan to Jordan\u2019s Cairo Amman Bank (CAB) to on-lend to SMEs working on climate change adaptation and mitigation tech and services, according to <a href=\"https:\/\/ent.news\/2022\/10\/3760.pdf\">a statement (pdf)<\/a> issued by the EBRD yesterday.<\/p>\n<p><strong>The details: <\/strong>The USD 10 mn package \u2014 of which USD 2.5 mn is being co-financed by the GCF \u2014 will also include a technical cooperation package funded by the EBRD, EU, and GCF to provide support on tech usage to integrate climate change adaptation and mitigation. It will also advise on where and how to direct investment. The EU will also provide unspecified investment incentives, the statement says.<\/p>\n<p><strong>BACKGROUND- <\/strong>This is the third loan provided to Jordan by the EBRD, EU and GCF under the <a href=\"https:\/\/ebrdgeff.com\/egypt\/ebrd-and-green-climate-fund-to-continue-partnership\/\">Green Economy Financing Facility<\/a>, the EBRD confirmed to Enterprise Climate. It\u2019s the first facility being provided to CAB under the GCF-GEFF Regional Framework in Jordan, the statement notes.<\/p>\n<p><strong>IN CONTEXT- It\u2019s part of a raft of recent regional loans for on-lending to climate-focused SMEs.<\/strong> The EBRD signed an agreement with Jordan\u2019s <a href=\"https:\/\/www.ebrd.com\/news\/2022\/ebrd-eu-and-gcf-support-green-investments-in-jordan.html\">Bank al Etihad<\/a> to provide a USD 10 mn GEFF, with USD 500k of co-financing from the GCF in August this year. Morocco\u2019s Bank of Africa \u2013 BMCE Group recently <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a443b122-36c6-4495-a183-bbe0e9cfb4d3\">secured EUR 13 mn in loans<\/a> to use for on-lending to SMEs, with EUR 9.75 mn of this funding coming from the EBRD and EUR 3.25 mn from the GCF, and the EU providing a separate EUR 1.43 mn grant. Last year, the EBRD greenlit a USD 25 mn loan to the <a href=\"https:\/\/www.ebrd.com\/work-with-us\/projects\/psd\/51935.html\">National Bank of Kuwait Egypt<\/a> in April, a USD 50 mn loan to <a href=\"https:\/\/enterprise.press\/stories\/2021\/06\/10\/ebrd-plans-for-more-green-loans-to-egypt-43338\/\">QNB AlAhli<\/a> in June, and a USD 100 mn facility to Egypt\u2019s <a href=\"https:\/\/enterprise.press\/stories\/2021\/11\/14\/more-green-finance-for-smes-courtesy-of-the-ebrd-58041\/\">Banque Misr<\/a> in November.<\/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\/cairo-amman-bank\/\">Cairo-Amman Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-finance\/\">climate finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/ebrd\/\">EBRD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/gcf\/\">GCF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/geff\/\">GEFF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-finance\/\">green finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/jordan\/\">Jordan<\/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=\"74588\" 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=\"74588\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">RENEWABLES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/01\/oc-led-consortium-kicks-of-work-on-egypt-wind-farm-other-renewables-updates-from-the-region\/\">\r\n                            OC-led consortium kicks of work on Egypt wind farm + other renewables updates from the region                        <\/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\/11\/01\/oc-led-consortium-kicks-of-work-on-egypt-wind-farm-other-renewables-updates-from-the-region\/\" 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\/11\/01\/oc-led-consortium-kicks-of-work-on-egypt-wind-farm-other-renewables-updates-from-the-region\/')\">\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\/11\/01\/oc-led-consortium-kicks-of-work-on-egypt-wind-farm-other-renewables-updates-from-the-region\/\">\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=OC-led consortium kicks of work on Egypt wind farm + other renewables updates from the region&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/01\/oc-led-consortium-kicks-of-work-on-egypt-wind-farm-other-renewables-updates-from-the-region\/\">\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\/11\/01\/oc-led-consortium-kicks-of-work-on-egypt-wind-farm-other-renewables-updates-from-the-region\/&title=OC-led consortium kicks of work on Egypt wind farm + other renewables updates from the region\">\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=OC-led+consortium+kicks+of+work+on+Egypt+wind+farm+%2B+other+renewables+updates+from+the+region+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F01%2Foc-led-consortium-kicks-of-work-on-egypt-wind-farm-other-renewables-updates-from-the-region%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\/11\/01\/oc-led-consortium-kicks-of-work-on-egypt-wind-farm-other-renewables-updates-from-the-region\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/49.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"74589\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/01\/oc-led-consortium-kicks-of-work-on-egypt-wind-farm-other-renewables-updates-from-the-region\/49-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/49.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"49.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/49.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/49.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74588\" class=\"content-area-description single-story post-74588 post type-post status-publish format-standard has-post-thumbnail hentry category-renewables tag-cement tag-enterpriseclimate tag-renewable tag-renewables tag-sczone tag-solar tag-sustainability 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-04\"><\/a> <strong>We have a smattering of renewables stories from the region<\/strong>, including a new 45 GWh solar plant for a cement plant in Egypt\u2019s Suez, the expansion of solar capacity at the UAE\u2019s Al Maktoum Solar Park, and the kick-off of a wind farm project in Egypt\u2019s Ras Ghareb.<\/p>\n<p><strong>OC-led consortium kicks off work on 500 MW<\/strong><strong> wind farm in Egypt:<\/strong> A consortium of EGX- and Nasdaq Dubai-listed Orascom Construction, Japan\u2019s Toyota Tsusho, and France\u2019s Engie broke ground yesterday on a 500 MW wind farm in Egypt\u2019s Ras Ghareb, according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0B14DxuBMLVosNjkYE3CZxHnBf227nE4hDXXA2PcygTLAXhg7cq21cBzXoB4yfVMsl\">statement<\/a> from the country\u2019s cabinet. The consortium will develop, construct, and operate the wind farm under a 20-year contract. Implementation is expected to take 30 months, Orascom Construction said in <a href=\"https:\/\/ent.news\/2021\/10\/OC-Consortium-to-Develop-a-500-MW-Build-Own-Operate-Wind-Farm-in-Egypt.pdf\">a statement (pdf)<\/a> last October.<\/p>\n<p><strong>SUEZ CEMENT INKS SOLAR PACT<\/strong><\/p>\n<p><strong><a href=\"https:\/\/www.suezcement.com.eg\/en\">Suez Cement Group of Companies<\/a><\/strong><strong> (SCGC) and <\/strong><strong><a href=\"https:\/\/introgroup.org\/intro\/Intro-solar.html\">Intro Power and Utilities<\/a><\/strong><strong> signed an<\/strong> <strong>EGP 350 mn (USD 14.48 mn) power purchase agreement (PPA) for a new solar plant<\/strong>, SCGC <a href=\"https:\/\/www.suezcement.com.eg\/en\/scgc%20and%20intro\">announced<\/a> yesterday. The solar facility will supply the HeidelbergCement subsidiary\u2019s Suez plant with nearly 45 GWh of solar energy, accounting for 20% of the plant\u2019s power supply and offsetting approximately 22k tons of CO2 emissions annually.<\/p>\n<p><strong>The details: <\/strong>Construction of the new solar plant will begin next year and is expected to come online in 1H 2023. It will be connected to the Egyptian national grid by 2H 2023 and is expected to supply renewable energy for the Suez plant through to 2043. The plant will be developed, managed, operated and maintained by Intro Group.<\/p>\n<p><strong>Reducing emissions<\/strong><strong>:<\/strong> \u201cThis step toward using more affordable and cleaner energy will help us significantly reduce power costs and bring us closer to our 2030 target of reducing net CO2 emissions to 400kg\/t corresponding to a reduction of 47% compared with the base year 1990,\u201d SCGC Managing Director Mohamed Hegazy said in the statement.<\/p>\n<p><strong>In context: <\/strong>Cement generates <a href=\"https:\/\/bit.ly\/3NorCfn\">the most carbon emissions per USD of revenue<\/a> globally with 6.9 kg of CO2 released \u2014 5x more than steel \u2014 according to <a href=\"https:\/\/ent.news\/2022\/10\/2028.pdf\">findings (pdf)<\/a> by the World Cement Association during its annual conference. MENA cement producers account for nearly 7% of the global cement output.<\/p>\n<p><strong>DEWA ADDS 300 MW OF PV CAPACITY<\/strong><\/p>\n<p><strong>ALSO- UAE\u2019s <\/strong><strong><a href=\"https:\/\/www.dewa.gov.ae\/en\">Dubai Water and Electricity Authority<\/a><\/strong><strong> added 300 MW of photovoltaic<\/strong><strong> solar energy to <\/strong><strong><a href=\"https:\/\/bit.ly\/3DmFsKW\">Al Maktoum Solar Park<\/a><\/strong><strong>\u2019s phase 5 in 2022<\/strong>, the Government of Dubai <a href=\"https:\/\/mediaoffice.ae\/en\/news\/2022\/October\/31-10\/DEWA-adds-600MW-of-clean-energy-production-capacity\">announced<\/a>yesterday. The latest addition upgrades phase 5\u2019s production capacity to 600 MW \u2014 two thirds of the 900 MW planned to come online by 2023. The Solar Park will have a production capacity of 5 GW by 2030.<\/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\/cement\/\">cement<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewable\/\">renewable<\/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\/sczone\/\">SCzone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/solar\/\">SOLAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/sustainability\/\">sustainability<\/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=\"74590\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74591\" 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=\"74591\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/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\/11\/01\/happy-feet-fans-rejoice-emperor-penguins-to-receive-protections-under-esa\/\">\r\n                            Happy Feet fans rejoice: Emperor penguins to receive protections under ESA                        <\/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\/11\/01\/happy-feet-fans-rejoice-emperor-penguins-to-receive-protections-under-esa\/\" 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\/11\/01\/happy-feet-fans-rejoice-emperor-penguins-to-receive-protections-under-esa\/')\">\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\/11\/01\/happy-feet-fans-rejoice-emperor-penguins-to-receive-protections-under-esa\/\">\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=Happy Feet fans rejoice: Emperor penguins to receive protections under ESA&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/01\/happy-feet-fans-rejoice-emperor-penguins-to-receive-protections-under-esa\/\">\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\/11\/01\/happy-feet-fans-rejoice-emperor-penguins-to-receive-protections-under-esa\/&title=Happy Feet fans rejoice: Emperor penguins to receive protections under ESA\">\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=Happy+Feet+fans+rejoice%3A+Emperor+penguins+to+receive+protections+under+ESA+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F01%2Fhappy-feet-fans-rejoice-emperor-penguins-to-receive-protections-under-esa%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\/11\/01\/happy-feet-fans-rejoice-emperor-penguins-to-receive-protections-under-esa\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/1372.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"74592\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/01\/happy-feet-fans-rejoice-emperor-penguins-to-receive-protections-under-esa\/1372-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/1372.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1372.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/1372.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/1372.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74591\" class=\"content-area-description single-story post-74591 post type-post status-publish format-standard has-post-thumbnail hentry category-on-your-way-out tag-climate-change tag-endangered-species-act tag-enterpriseclimate tag-extinction tag-on-your-way-out tag-penguins 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>Emperor penguins get protection under the US Endangered Species Act:<\/strong> Their longevity on our planet is becoming increasingly untenable as global warming accelerates the rate of sea ice melting in Antarctica, but now the shuffling flightless birds will receive protections under the US Endangered Species Act, the <a href=\"https:\/\/public-inspection.federalregister.gov\/2022-23164.pdf\">US Fish and Wildlife Service says<\/a>.<\/p>\n<p><strong>Danger in Antarctica:<\/strong> The US Fish and Wildlife Service currently lists the birds as a \u201cthreatened\u201d species due to rapid sea ice loss. Early thawing of sea ice \u2014 where the penguins search for food, breed, and evade predators \u2014 can cause severe declines in colonies, according to a study published in <a href=\"https:\/\/onlinelibrary.wiley.com\/doi\/epdf\/10.1111\/gcb.15806\">Global Change Biology<\/a>. Up to 70% of emperor penguin colonies in Antarctica could die out by 2050 under current energy system trends and policies, the study warns.<\/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\/endangered-species-act\/\">Endangered Species Act<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/extinction\/\">extinction<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/penguins\/\">penguins<\/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=\"74593\" 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\/11\/01\/74593\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74593\" class=\"content-area-description single-story post-74593 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>NOVEMBER<\/strong><\/p>\n<p>31 October-3 November (Monday-Thursday): <a href=\"https:\/\/www.adipec.com\/\">ADIPEC<\/a>, Abu Dhabi National Exhibition Centre, Abu Dhabi, UAE.<\/p>\n<p>1 November (Tuesday) at 12pm: <a href=\"https:\/\/bit.ly\/3F9Nmda\">Mohammed Bin Rashid Al Maktoum Solar Park<\/a> EOI submission deadline, UAE.<\/p>\n<p>15 November (Tuesday): <a href=\"https:\/\/www.hawkamah.org\/event\/5233\">Hawkamah Annual Conference (Building Investor Confidence Through Governance)<\/a>, Dubai, UAE.<\/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 \u2013 Baha \u2013 Makkah Independent Water Transmission Pipeline in Saudi Arabia.<\/p>\n<p><strong>COP27 sub-events:<\/strong><\/p>\n<p>7-8 November (Monday-Tuesday): <a href=\"https:\/\/www.sustainable-markets.org\/terra-carta\/\">Terra Carta Action Forum<\/a> 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>7 November (Monday): Saudi Arabia\u2019s <a href=\"https:\/\/www.greeninitiatives.gov.sa\/ar-sa\/mgi-summit\/\">Middle East Green Initiative<\/a> event.<\/p>\n<p>8 November ( Tuesday): <a href=\"https:\/\/gca.org\/events\/cop27-leaders-event\/\">COP27 Leaders\u2019 Event: Accelerating Adaptation in Africa<\/a>.<\/p>\n<p>10 November (Thursday): <a href=\"https:\/\/climatechrun.com\/\">ClimaTech Run competition\u2019s pitching day<\/a>.<\/p>\n<p>11-12 November (Friday-Saturday): <a href=\"https:\/\/www.saudigreeninitiative.org\/ar\/events-2021\/saudi-green-initiative-forum\/\">Saudi Green Initiative<\/a> event.<\/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>13 January (Friday): <a href=\"https:\/\/www.irena.org\/events\/2023\/Jan\/The-New-Generation-of-Decision-Makers-IRENA-Youth-Forum\">The International Renewable Energy Agency\u2019s Youth Forum, Abu Dhabi, UAE.<\/a><\/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>16-18 January (Monday-Wednesday): <a href=\"https:\/\/www.worldfutureenergysummit.com\/\">World Future Energy Summit<\/a>, Abu Dhabi National Exhibition Center (ADNEC), UAE.<\/p>\n<p>January 2023: Bid submission deadline for green hydrogen projects to <a href=\"https:\/\/hydrom.om\/tender.html\">Hydrogen Oman (Hydrom)<\/a>.<\/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>OCTOBER 2023<\/strong><\/p>\n<p><strong>2-4 October (Monday-Wednesday): <\/strong><a href=\"https:\/\/www.showsbee.com\/fairs\/84868-WETEX-2023.html\">WETEX and Dubai Solar Show<\/a>, Dubai World Trade Centre, Dubai, United Arab Emirates.<\/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>1Q2023: Oman will award two blocks of land for green hydrogen projects in Duqm, Oman.<\/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\/climate\/en\/news\/story\/f2f525f9-dc10-477e-a2d5-67e7d6d790c2\">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\/climate\/en\/news\/story\/c6bbb030-2107-4aec-bc3c-9dfbe4d55975\">come online<\/a>.<\/p>\n<p>4Q2023: Oman to award four blocks of land for green hydrogen projects in Thumrait, Oman.<\/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":74577,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-74576","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"e95f1b3b-445f-4c86-8bbc-556d0f810e55","teaser":"","photo_url":"https:\/\/ent.news\/2019\/6\/moneymoneymoney-1600px.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO 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