{"id":74656,"date":"2022-11-07T02:13:26","date_gmt":"2022-11-07T02:13:26","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=74656"},"modified":"2025-12-15T08:06:27","modified_gmt":"2025-12-15T08:06:27","slug":"loss-and-damage-financing-is-on-the-cop-agenda","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/loss-and-damage-financing-is-on-the-cop-agenda\/","title":{"rendered":"Loss and damage financing is on the COP agenda"},"content":{"rendered":"<section id=\"74658\" 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=\"74658\">\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\/07\/today-loss-and-damage-financing-on-the-cop-agenda-saudis-ev-strategy-moves-ahead-carbon-markets-are-cropping-up-everywhere\/\">\r\n                            TODAY: Loss and damage financing on the COP agenda + Saudi\u2019s EV strategy moves ahead + Carbon markets are cropping up everywhere                        <\/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\/07\/today-loss-and-damage-financing-on-the-cop-agenda-saudis-ev-strategy-moves-ahead-carbon-markets-are-cropping-up-everywhere\/\" 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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It cuts across every sector, from banking and finance to infrastructure, urban planning, real estate, FMCG and beyond. <strong>Enterprise Climate and the Enterprise X Forum are the regional hub for news, views, discussion and debate about how we build this industry.<\/strong><\/p>\n<p>In panels, live interviews and networking sessions, <strong>the Enterprise Climate X Forum will give <\/strong><strong>insiders and newcomers alike the chance to talk about how to build a climate-centered business <\/strong>\u2014 and how to make sure your business continues to have access to the funds it needs to grow. Expect it to be <strong>heavy on lessons learned in Egypt and other global growth markets \u2014 and lots of success stories.<\/strong><\/p>\n<p><strong>Some of the biggest names in business and finance are on board \u2014 are you? <\/strong>The Enterprise Climate X Forum is taking place with the generous support of our friends, including:<\/p>\n<ul>\n<li><strong>Banking partners: <\/strong>HSBC | Mashreq | Attijariwafa Bank<\/li>\n<li><strong>Telecom partner:<\/strong> Etisalat by e&<\/li>\n<li><strong>Event partners:<\/strong> Hassan Allam Utilities | Infinity Power<\/li>\n<\/ul>\n<p><strong>DO YOU WANT TO ATTEND? The first wave of invites is going out today <\/strong>and seating is limited. If you\u2019re a C-suite exec, business owner, climate professional, DFI staff, investor or banker, please email us at <a href=\"mailto:climatexrsvp@enterprisemea.com\">climatexrsvp@enterprisemea.com<\/a> to signal your interest, letting us know your name, title and where you work.<\/p>\n<p><strong>Business inquiries: <\/strong>Ping a note to Moustafa Taalab, our head of commercial, <a href=\"mailto:mtaalab@inktankir.com\">here<\/a>.<\/p>\n<hr class=\"grey-line\">\n<p><strong>THE BIG CLIMATE STORY HERE AND AROUND THE WORLD- It\u2019s all COP27, all the time.<\/strong> The first day of the gathering \u2014 before the world leaders\u2019 summit gets underway today \u2014 hit the ground running with Egyptian Foreign Minister and COP27 President Sameh Shoukry announcing that loss and damage financing is now officially an agenda item at the summit. Several officials and global figures, including UN Secretary General Antonio Guterres and outgoing COP President Alok Sharma, also stressed on the need to put words into immediate action.<\/p>\n<p><strong>It\u2019s the official opening ceremony of COP27 today, marking the start of the two-day <\/strong><strong>leaders\u2019 <\/strong><strong>summit.<\/strong> President Abdel Fattah <strong>El Sisi<\/strong> will inaugurate the two-week conference alongside UN Secretary-General Antonio <strong>Guterres<\/strong> and UN Framework Convention on Climate Change (UNFCCC) Executive Secretary Simon <strong>Stiell<\/strong>. The session is expected to start soon after 12pm CLT (1pm KSA \/ 2pm UAE) and be attended by heads of state and government from across the globe, according to <a href=\"https:\/\/ent.news\/2022\/11\/Daily_Programme_Sharm-el-Sheikh2022-OD-20221107-en.pdf\">the agenda (pdf)<\/a>.<\/p>\n<p><strong>In the afternoon:<\/strong> COP27 President Sameh Shoukry will open the first high-level session at 14:30 CLT, which will see heads of state give statements until 18.30 CLT. Among those speaking today \u2014 according to the <a href=\"https:\/\/ent.news\/2022\/11\/List-of-Speakers-First-part-of-the-high-level-segment-for-Heads-of-State-and-Government-COP-27.pdf\">list of speakers (pdf)<\/a>:<\/p>\n<ul>\n<li>Arab leaders including UAE President Sheikh <strong>Mohamed bin Zayed<\/strong>, Jordan\u2019s <strong>King Abdullah II<\/strong>, Iraqi President <strong>Abdul Latif Rashid<\/strong>, and Algerian President <strong>Abdelmadjid Tebboune<\/strong>;<\/li>\n<li>European leaders, including German Chancellor <strong>Olaf Scholz<\/strong>, Italian PM <strong>Giorgia Meloni<\/strong>, French President <strong>Emmanuel Macron<\/strong>, and Dutch PM <strong>Mark Rutte<\/strong>.<\/li>\n<li>UK Prime Minister <strong>Rishi Sunak<\/strong>;<\/li>\n<li>Ethiopian Prime Minister <strong>Abiy Ahmed<\/strong>, who is on his first visit to Egypt in four years<\/li>\n<li><strong>Isaac Herzog<\/strong>, president of Israel.<\/li>\n<\/ul>\n<p><strong>Also today:<\/strong> Saudi Arabia\u2019s <a href=\"https:\/\/www.greeninitiatives.gov.sa\/about-mgi\/\">Middle East Green Initiative<\/a> gets underway in Sharm.<\/p>\n<p><strong>^^ We have the full rundown<\/strong> of what went down on Day 1 \u2014 and what to look out for over the next few days \u2014 in the news well, below.<\/p>\n<p><strong>Do you have news coming out of COP? A top exec who would like to have a chat? <\/strong>Send press releases, statements, communiques and interview pitches our way on <a href=\"mailto:editorial@enterprise.press\">editorial@enterprise.press<\/a>.<\/p>\n<p><strong>KEY COP DATES-<\/strong><\/p>\n<p><strong>The Forum will take place on the sidelines of COP27 <\/strong>this Friday and Saturday, 11 and 12 November in <strong>Sharm el Sheikh<\/strong>. The forum will tackle emissions reduction, renewables, clean hydrogen production, the circular carbon economy, sustainability, the importance of climate finance, and the role of the private sector.<\/p>\n<p>Among the days and themes that we think are most relevant to MENA business leaders:<\/p>\n<ul>\n<li><strong>World leaders\u2019 summit<\/strong>: 7-8 November (more details <a href=\"https:\/\/bit.ly\/3Nm4VbG\">here<\/a>)<\/li>\n<li><strong>Finance day:<\/strong> 9 November<\/li>\n<li><strong>Decarbonization day:<\/strong> 11 November<\/li>\n<li><strong><a href=\"https:\/\/www.greeninitiatives.gov.sa\/about-sgi\/\">Saudi Green Initiative<\/a><\/strong><strong>:<\/strong> 11-12 November<\/li>\n<li><strong>Adaptation and agriculture day<\/strong>: 12 November<\/li>\n<li><strong>Water day:<\/strong> 14 November<\/li>\n<li><strong>Energy day:<\/strong> 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<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>WATCH THIS SPACE #1- UAE\u2019s <\/strong><strong><a href=\"https:\/\/www.empower.ae\">Empower<\/a><\/strong><strong> has put more shares into its IPO <\/strong><strong>offering, now shopping as much as 20% of the company <\/strong>on the back of high demand, with \u201coversubscription across all tranches,\u201d the company <a href=\"https:\/\/www.empower.ae\/ipo\/uploads\/EN\/PressReleaseIncreaseinOfferingV2.pdf\">announced<\/a> on Friday without disclosing the oversubscription rate. The initial public offering was originally set to see Empower sell a 10% stake before it <a href=\"https:\/\/www.empower.ae\/ipo\/uploads\/EN\/PressReleaseIncreaseinOffering.pdf\">raised the stake size (pdf)<\/a> to 15% last week. The company priced its initial public offering at AED 1.31-1.33 per share <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/6218610a-b20d-4bca-bf57-bb57c6f09111\">last week<\/a> and the subscription period closes today for UAE retail investors and tomorrow for other qualified investors.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>WATCH THIS SPACE #2- UAE\u2019s <\/strong><strong><a href=\"https:\/\/www.adnoc.ae\/en\/\">Adnoc<\/a><\/strong><strong> signs energy agreements worth AED <\/strong><strong>35 bn:<\/strong> The Abu Dhabi National Oil Company has signed agreements with 25 companies including Siemens and Halliburton to localize the manufacturing of energy-related products, the state-owned company said in a <a href=\"https:\/\/www.adnoc.ae\/en\/news-and-media\/press-releases\/2022\/adnoc-signs-agreements-with-25-companies-for-local-manufacturing-opportunities\">statement<\/a> last week. The products include compressors, pipeline inspection gauges, and specialist valves. The agreements fall under the \u201cMake it in the Emirates\u201d initiative focusing on 11 different sectors to develop national industry.<\/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><strong>CLIMATE DIPLOMACY- <\/strong><\/p>\n<p><strong>UAE, US continue discussions for USD 100 bn PACE partnership:<\/strong> US President Joe Biden and UAE President Mohammed bin Zayed Al Nahyan met last week to discuss renewable energy and carbon emissions management projects under the <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/745b1f96-7d6a-4e59-85ba-935e7e6affa8\">PACE<\/a> agreement, <a href=\"https:\/\/wam.ae\/en\/details\/1395303097617\">WAM<\/a> reports. Al Nahyan briefed Biden on the UAE\u2019s funding and assistance for clean energy projects across six continents including dozens of small island developing states in the Caribbean and the Pacific Ocean in addition to a number of projects across the US. PACE\u2019s goal is to accelerate the rollout of low-carbon energy with an eye to seeing an additional 100 GW of clean energy generation capacity built around the world by 2035.<\/p>\n<p><strong>KSA to work with Finland on sustainable projects:<\/strong> A Saudi delegation led by the Kingdom\u2019s Commerce Minister, Majid bin Abdullah Al-Qasabi, signed five MoUs during a four-day visit to Helsinki, the <a href=\"https:\/\/www.spa.gov.sa\/viewfullstory.php?lang=en&newsid=2398273#2398273\">Saudi Press Agency<\/a> reports. The delegation explored avenues for cooperation in sustainable technologies, sustainable mining, and smart cities. No details on the MoUs were provided.<\/p>\n<p><strong>Saudi Arabia is also in talks with the Netherlands on energy:<\/strong> Saudi Energy Minister Prince Abdulaziz bin Salman held a virtual meeting with his Dutch counterpart to discuss further cooperation on energy, the <a href=\"https:\/\/www.spa.gov.sa\/viewfullstory.php?lang=en&newsid=2398205#2398205\">Saudi Press Agency<\/a> reported on Friday, without providing details.<\/p>\n<p><strong>Morocco turns to the UK for renewables investments: <\/strong>Morocco hosted an event at its embassy in London to attract investments in its southern provinces, <a href=\"https:\/\/www.moroccoworldnews.com\/2022\/11\/352239\/morocco-calls-for-british-investment-in-its-emerging-gateway-to-africa\">Morocco World News<\/a> reports. The country is looking to drum up investments in solar, wind, and hydro.<\/p>\n<p><strong>Iraq in talks with Turkey over water security<\/strong>, seeking its \u201cfair share\u201d of water from the Tigris River with Turkey, <a href=\"https:\/\/www.thenationalnews.com\/mena\/iraq\/2022\/11\/03\/iraq-corruption-and-climate-change-top-challenges-facing-new-government\/\">the National<\/a> quotes Iraqi Minister of Water Resources Aoun Diab as saying. Turkey says it will \u201cco-operate with Iraq and exchange visits to reach understandings for a fair share,\u201d according to a cabinet <a href=\"https:\/\/www.facebook.com\/waterresources2\/posts\/pfbid02AupKbqAp4VtkF8Ge5Jw6oQBFQbtqTqytNE3Y9wX3FzY9KsMRFMtfjnkFn8ZS6Cpyl\">statement<\/a>. Water storages stemming from climate-induced weather events and upstream countries\u2019 dams in Turkey and Iran are threatening Iraq\u2019s ability to shore up water supplies for irrigation and potable consumption.<\/p>\n<p><strong>Go deeper: <\/strong>Read our two-part analysis of Iraq\u2019s water crisis <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/6c5c2f6b-090a-4d9f-93c7-308f58d2025c\">here<\/a> and <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9e6cd8b9-dcf5-4c84-ba1e-d7142c3d71eb\">here<\/a>.<\/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 next Tuesday, 15 November in <strong>Dubai<\/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 <strong>Riyadh<\/strong>, bringing together ministers and senior officials from the private and public sectors.<\/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>\n<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><\/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                       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data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/6093.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/6093.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74660\" class=\"content-area-description single-story post-74660 post type-post status-publish format-standard has-post-thumbnail hentry category-cop-watch tag-climate tag-cop-watch tag-cop27 tag-diplomacy tag-enterpriseclimate tag-loss-and-damage tag-sameh-shoukry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-01\" class=\"content-anchor\"><\/a> <strong>Nations will discuss loss and damage financing for the first time at <\/strong><strong>COP27: <\/strong>A \u201cbreakthrough\u201d agreement allowing diplomats to officially debate for the first time who should pay for damage sustained by the countries most vulnerable to climate change was announced on the first day of COP27 yesterday.<\/p>\n<p><strong>High drama: <\/strong>The agreement was hashed out during two days of fraught preliminary talks which saw the opening plenary session <a href=\"https:\/\/www.theguardian.com\/environment\/2022\/nov\/06\/cop27-delayed-start-tussle-over-agenda-for-talks\">delayed for hours<\/a>, with negotiators unable to agree on whether to put it on the agenda.<\/p>\n<p><strong>The goal:<\/strong> Delegates are aiming to reach a conclusive decision on loss and damage \u201cno later than 2024,\u201d Egypt\u2019s Foreign Minister and COP27 President Sameh Shoukry said in his <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/pfbid08kfQNo9FadhjW6jFnggLVhwmhBae9WNqQf1dyXkezKVg8spxWtbdEhLH7Bew139Yl?__cft__[0]=AZX6rBy6Hczko0vPw1W0PQjdA0jxbfefDKxCSpbpDJu8bu5dEfodWUt59tjXBR1M8ND_KcjjauF4bDHTH13v5OEq68pePNeboCOLwJDtP5Sx8Uq9eiAZnsoV_x37D9d8WffWjaCOJn1qmjmMCdDL-mUulECF9Doc3ROiJ3_q7I5Rzj70sfMGi0zZCi32el7wgdg&__tn__=%2CO%2CP-R\">opening speech<\/a> (<a href=\"https:\/\/www.youtube.com\/watch?v=e9MEUC_tvek\">watch, runtime: 14:19<\/a>), during which he emphasized the talks would be constructive and focused on \u201ccooperation and facilitation\u201d rather than \u201cliability and compensation.\u201d<\/p>\n<p><strong>Progress:<\/strong> The agreement \u201ccreates for the first time an institutionally stable space on the formal agenda of the COP and the Paris Agreement to discuss the pressing issue of funding arrangements needed to deal with existing gaps in responding to loss and damage,\u201d <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-06\/cop27-climate-talks-begin-with-breakthrough-on-loss-and-damage?srnd=green#xj4y7vzkg\">Bloomberg<\/a> reported Shoukry saying.<\/p>\n<p><strong>But it\u2019ll be a tough two weeks ahead:<\/strong> Harjeet Singh, head of global political strategy at the non-profit Climate Action Network International, <a href=\"https:\/\/www.reuters.com\/business\/cop\/cop27-summit-begin-with-plea-discuss-climate-compensation-2022-11-06\/\">described<\/a> the weekend\u2019s negotiations as \u201cextremely challenging,\u201d and others are voicing trepidation about the likelihood of an agreement over the next two weeks. \u201cThis is going to be a difficult COP,\u201d one delegate told the Guardian.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9c38c6f3-9328-49d0-83b2-330b482a1066\">A showdown<\/a><\/strong><strong> has been brewing for some time:<\/strong> Wealthy nations have opposed official discussions on climate compensation for over a decade and at COP26 blocked a proposal for a dedicated loss and damage financing body, supporting instead a dialogue for funding discussions to take place over three years. With rich nations already <a href=\"https:\/\/news.sky.com\/story\/cop27-historic-moment-as-climate-compensation-to-be-discussed-at-un-talks-for-first-time-12739876\">being accused<\/a> of \u201cbullying\u201d poorer countries during the weekend\u2019s talks, expect the question of who pays for the climate crisis to be a major source of tension at this year\u2019s summit.<\/p>\n<p><strong>Climate finance has been a key area of focus for policymakers in the run-up to the <\/strong><strong>summit<\/strong>, with Egypt climate czar Mahmoud Mohieldin being particularly vocal in calling for compensation for climate change-driven damage and a funding shift away from debt, towards investment (<a href=\"https:\/\/enterprise.press\/stories\/2022\/09\/19\/part-1-of-our-exclusive-sitdown-with-mahmoud-mohieldin-the-un-climate-change-high-level-champion-for-egypt-81455\/\">here<\/a> and <a href=\"https:\/\/enterprise.press\/stories\/2022\/09\/20\/part-2-of-our-exclusive-sitdown-with-mahmoud-mohieldin-the-un-climate-change-high-level-champion-for-egypt-81570\/\">here<\/a>).<\/p>\n<p><strong>FACING \u201cCLIMATE CHAOS\u201d<\/strong><\/p>\n<p><strong>Another note hit hard and early yesterday: The urgent need for action in the face of <\/strong><strong>\u201cclimate chaos.\u201d <\/strong>COP27 must spur urgent and credible climate action, UN Secretary-General Antonio Guterres said in a video message yesterday, terming the UN\u2019s newly-released <a href=\"https:\/\/public.wmo.int\/en\/media\/press-release\/eight-warmest-years-record-witness-upsurge-climate-change-impacts\">State of the Global Climate Report 2022<\/a> a \u201cchronicle of climate chaos\u201d (<a href=\"https:\/\/news.sky.com\/video\/cop27-un-chief-antonio-guterres-warns-planet-is-sending-a-distress-signal-12740022\">watch, runtime: 1:11<\/a>). Guterres echoed the message of special representative for the COP27 presidency Wael Aboulmagd, who <a href=\"https:\/\/enterprise.press\/stories\/2022\/11\/06\/its-cop-oclock-heres-everything-you-need-to-know-86190\/\">emphasized the importance of implementation<\/a> to reporters over the weekend.<\/p>\n<p><strong>And the importance of moving beyond COP26 pledges: <\/strong>It\u2019s time to start delivering on the Paris Agreement and other previously agreed climate pledges, Aboulmagd said. Last year\u2019s summit in Glasgow saw <a href=\"https:\/\/www.cfr.org\/in-brief\/cop26-heres-what-countries-have-pledged\">several important pledges<\/a> agreed on, including \u201cphasing down\u201d the use of coal, halting deforestation by 2030, slashing methane emissions by 30% by 2030, and submitting updated national plans with more ambitious targets.<\/p>\n<p><strong>Passing the torch:<\/strong> Yesterday saw outgoing COP President Alok Sharma hand the presidency to Shoukry, who chaired the opening plenary session.<\/p>\n<p><strong>Sharma also warned against delaying action:<\/strong> \u201cOur shared long-term future does not lie in fossil fuels,\u201d Sharma said in his address yesterday. While \u201cevery major report published this year underscores the point that progress has been made \u2026 there is so much more to be done in this critical decade,\u201d Sharma added.<\/p>\n<p><strong>PAYING THE BILL<\/strong><\/p>\n<p><strong>You can expect to hear lots more about climate finance and the need for<\/strong><strong> implementation over the next two weeks. <\/strong>These were two major conference themes out of four flagged in <a href=\"https:\/\/enterprise.press\/stories\/2022\/11\/06\/its-cop-oclock-heres-everything-you-need-to-know-86190\/\">EnterpriseAM\u2019s<\/a> pre-COP roundup yesterday. To that end:<\/p>\n<p><strong>DFIs ready to scale up mitigation and adaptation support:<\/strong> A group of leading development finance institutions have pledged to expand support to countries for mitigation and adaptation in the face of climate change.<\/p>\n<p><strong>Who\u2019s on board: <\/strong>The African Development Bank, European Bank for Reconstruction and Development (EBRD), European Investment Bank, and the World Bank will help countries and other clients include adaptation and mitigation into their overall economic planning, offering support in areas including policymaking, investment plans and securing funding sources, they said in a <a href=\"https:\/\/ent.news\/2022\/11\/cop27-mdb-joint-statement-en.pdf\">joint statement (pdf)<\/a> yesterday. Boosting adaptation finance for low-income countries, island states, and vulnerable populations, and increasing concessional finance will be among their priorities, it added.<\/p>\n<p><strong>By the numbers:<\/strong> Last year, the lenders collectively channeled USD 51 bn in climate finance to low- and middle-income countries \u2014 split 65% for mitigation and 35% for adaptation, according to <a href=\"https:\/\/www.ebrd.com\/news\/2022\/mdbs-to-expand-support-for-countries-seeking-climateresilient-sustainable-transition-.html\">the EBRD<\/a>. Some USD 31 bn went to high-income countries, with 95% earmarked for mitigation and 5% for adaptation. They mobilized a further USD 41 bn of private finance.<\/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\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/cop-watch\/\">COP WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/diplomacy\/\">diplomacy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/loss-and-damage\/\">loss and damage<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/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=\"74662\" 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=\"74662\">\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\">ELECTRIC VEHICLES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/07\/saudis-local-ev-strategy-moves-full-steam-ahead\/\">\r\n                            Saudi\u2019s local EV strategy moves full steam ahead                        <\/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\/07\/saudis-local-ev-strategy-moves-full-steam-ahead\/\" 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 EVs are set to hit the market in 2025.<\/p>\n<p><strong>BMW tech will be included:<\/strong> Ceer will license component technology from BMW to use in the development process, according to the statement. Foxconn will develop the \u201celectrical architecture\u201d of the EVs \u2014 which will be designed and manufactured in Saudi Arabia \u2014 featuring infotainment, connectivity, and autonomous driving tech, it adds.<\/p>\n<p><strong>It's part of Saudi\u2019s <\/strong><strong>diversification <\/strong><strong>strategy: <\/strong>PIF\u2019s strategic investment in \u201cpromising sectors\u201d aims to diversify Saudi Arabia\u2019s economy, the statement notes. <a href=\"https:\/\/www.lucidmotors.com\/media-room\/lucid-motors-closes-1bn-investment-public-investment-fund-saudi-arabia\">PIF invested<\/a> over USD 1 bn in Lucid Motors in 2018, and construction of the company\u2019s Saudi Arabia production plant <a href=\"https:\/\/www.lucidmotors.com\/media-room\/lucid-group-gearing-up-first-international-plant-saudi-arabia\">began in May<\/a> this year. 80% of all EVs produced by US-based EV manufacturer Lucid Motors <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/dd5f8ad6-48c3-43f9-9f3b-16ec8951b987\">will be made<\/a> in Saudi Arabia by 2030 with 155k EVs produced annually in Saudi Arabia by 2025.<\/p>\n<p><strong>Other MENA countries are working to board the EV train: <\/strong>Turkey unveiled its first <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/dd5f8ad6-48c3-43f9-9f3b-16ec8951b987\">locally-produced EV<\/a> in October, due to go on sale in 3Q 2023 with some 1 mn cars expected to be produced by the end of the decade. Egypt has also been trying for years to <a href=\"https:\/\/enterprise.press\/stories\/2022\/09\/05\/el-nasr-could-sign-final-contracts-to-produce-evs-next-month-80313\/\">bring on board a foreign manufacturer<\/a> to help state-owned El Nasr Automotive produce an Egyptian EV. There\u2019s clearly appetite: 90% of respondents to Enterprise\u2019s recent EV survey <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/0def00ae-57ec-490e-a715-f1d40bca9a97\">plan to buy<\/a> an EV within the next 10 years.<\/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\/ceer\/\">Ceer<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/electric-vehicles\/\">ELECTRIC VEHICLES<\/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\/foxconn\/\">Foxconn<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/lucid-motors\/\">Lucid Motors<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/pif\/\">PIF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74663\" 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=\"74663\">\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\">CARBON MARKET<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/07\/egypts-stock-exchange-sets-up-company-to-manage-carbon-credit-exchange\/\">\r\n                            Egypt\u2019s stock exchange sets up company to manage carbon credit exchange                        <\/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\/07\/egypts-stock-exchange-sets-up-company-to-manage-carbon-credit-exchange\/\" 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\/07\/egypts-stock-exchange-sets-up-company-to-manage-carbon-credit-exchange\/')\">\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\/07\/egypts-stock-exchange-sets-up-company-to-manage-carbon-credit-exchange\/\">\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\u2019s stock exchange sets up company to manage carbon credit exchange&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/07\/egypts-stock-exchange-sets-up-company-to-manage-carbon-credit-exchange\/\">\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\/07\/egypts-stock-exchange-sets-up-company-to-manage-carbon-credit-exchange\/&title=Egypt\u2019s stock exchange sets up company to manage carbon credit exchange\">\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%E2%80%99s+stock+exchange+sets+up+company+to+manage+carbon+credit+exchange+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F07%2Fegypts-stock-exchange-sets-up-company-to-manage-carbon-credit-exchange%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\/07\/egypts-stock-exchange-sets-up-company-to-manage-carbon-credit-exchange\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/135.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"74664\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/07\/egypts-stock-exchange-sets-up-company-to-manage-carbon-credit-exchange\/135-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/135.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"135.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/135.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/135.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74663\" class=\"content-area-description single-story post-74663 post type-post status-publish format-standard has-post-thumbnail hentry category-carbon-market tag-carbon-market tag-carbon-markets tag-egx tag-enterpriseclimate tag-fra tag-mahmoud-mohieldin tag-mohamed-farid tag-rami-el-dokany 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<\/strong> <strong>bourse forms carbon credit company: <\/strong>A subsidiary of the Egyptian Exchange (EGX) has signed an agreement with the <a href=\"https:\/\/abe.com.eg\/\">Agricultural Bank of Egypt<\/a> and Enara Group\u2019s Libra Capital to establish Libra Carbon, the first Egyptian company to develop, manage, and issue carbon certificates, according to a <a href=\"https:\/\/bit.ly\/3Tb7Xkm\">joint statement<\/a>.<\/p>\n<p><strong>How will it work? <\/strong>The company will serve as the building block for \u201can organized market for the trading of carbon certificates, which includes all the necessary components not only for trading but also for issuance,\u201d Egypt\u2019s Financial Regulatory Authority chief Mohamed Farid said. There are still no details on how the company plans to value, issue, and allow the trading of carbon credits.<\/p>\n<p><strong>Explainer:<\/strong> Read more about what Egypt\u2019s local carbon exchange could look like in EnterpriseAM\u2019s recent <a href=\"https:\/\/enterprise.press\/stories\/2022\/05\/10\/what-can-we-expect-from-the-planned-local-carbon-credit-exchange-70593\/\">Going Green<\/a> vertical.<\/p>\n<p><strong>Expect a regional carbon exchange to follow:<\/strong> The move is a first step towards developing a voluntary, Africa-wide carbon credit exchange to encourage and diversify investment in the continent\u2019s green economy, Egypt\u2019s EGX head Rami El Dokany said in the statement. Egypt\u2019s Environment Minister Yasmine Fouad <a href=\"https:\/\/enterprise.press\/stories\/2022\/11\/06\/cop27-dominates-the-conversation-on-the-airwaves-86199\/\">said<\/a> Egypt would launch the exchange \u2014 which has been in the works <a href=\"https:\/\/enterprise.press\/stories\/2018\/02\/21\/environment-ministry-to-launch-egypts-first-carbon-trade-exchange\/\">since 2018<\/a> \u2014 at COP27.<\/p>\n<p><strong>There\u2019s a growing market for carbon credits \u2014 but it needs standardizing:<\/strong> \u201cThe volume of transactions associated with carbon certificates is growing at 20x annually,\u201d <a href=\"https:\/\/www.asharqbusiness.com\/article\/43748\">Bloomberg Asharq<\/a> quotes COP climate czar Mahmoud Mohieldin, who attended the signing ceremony, as saying. But trading prices vary widely, with a certificate for one ton of carbon emissions selling for anything from USD 2 to USD 100 across the continent, he added. The regional exchange will look to standardize prices.<\/p>\n<p><strong>Carbon markets have also been picking up steam across the region<\/strong>, with Saudi Arabia\u2019s sovereign wealth fund, the Public Investment Fund (PIF) setting up a regional voluntary carbon market company <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/96ce0e75-0c9d-4f03-9e80-cc238211358c\">last month<\/a>. The company kicked off the world\u2019s largest credit auction, facilitating an auction of 1 mn tons of carbon credits. Meanwhile, Singapore is looking to buy carbon credits from Morocco and other countries outside the region as the Asian country looks to reduce its emissions.<\/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\/carbon-market\/\">carbon market<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/carbon-markets\/\">carbon markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/fra\/\">FRA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/mahmoud-mohieldin\/\">Mahmoud Mohieldin<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/mohamed-farid\/\">Mohamed Farid<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/rami-el-dokany\/\">Rami El Dokany<\/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=\"74665\" 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=\"74665\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/07\/intl-consortium-acquires-adnoc-refinings-waste-management-plants\/\">\r\n                            Int\u2019l consortium acquires Adnoc Refining\u2019s waste management plants                        <\/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\/07\/intl-consortium-acquires-adnoc-refinings-waste-management-plants\/\" 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\/07\/intl-consortium-acquires-adnoc-refinings-waste-management-plants\/')\">\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\/07\/intl-consortium-acquires-adnoc-refinings-waste-management-plants\/\">\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=Int\u2019l consortium acquires Adnoc Refining\u2019s waste management plants&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/07\/intl-consortium-acquires-adnoc-refinings-waste-management-plants\/\">\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\/07\/intl-consortium-acquires-adnoc-refinings-waste-management-plants\/&title=Int\u2019l consortium acquires Adnoc Refining\u2019s waste management plants\">\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=Int%E2%80%99l+consortium+acquires+Adnoc+Refining%E2%80%99s+waste+management+plants+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F07%2Fintl-consortium-acquires-adnoc-refinings-waste-management-plants%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\/07\/intl-consortium-acquires-adnoc-refinings-waste-management-plants\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/206.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"74666\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/07\/intl-consortium-acquires-adnoc-refinings-waste-management-plants\/206-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/206.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"206.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/206.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/206.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74665\" class=\"content-area-description single-story post-74665 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-acquisitions tag-adnoc-refining tag-enterpriseclimate tag-ma-watch tag-uae tag-waste-management 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>Abu Dhabi-based<\/strong> <strong><a href=\"https:\/\/adq.ae\">ADQ<\/a><\/strong><strong>, France\u2019s <\/strong><strong><a href=\"https:\/\/www.veolia.com\/middleeast\/\">Veolia Middle East<\/a><\/strong><strong>, and KSA\u2019s <\/strong><strong><a href=\"https:\/\/visioninvest.com\/en\/\">Vision Invest<\/a><\/strong><strong> will acquire <\/strong><strong><a href=\"https:\/\/www.adnoc.ae\/en\/adnoc-refining\">Adnoc Refining<\/a><\/strong><strong>\u2019s waste management operations<\/strong>, Adnoc Refining <a href=\"https:\/\/www.adnoc.ae\/en\/news-and-media\/press-releases\/2022\/adnoc-refining-secures-new-international-partners\">announced<\/a> on Thursday. The consortium will own and operate two waste management plants built to treat and dispose of waste produced from Adnoc\u2019s oil and gas extraction and refining processes in Abu Dhabi, according to the statement. Adnoc Refining did not disclose the value or projected timeline for the transaction.<\/p>\n<p><strong>The buyers: <\/strong>Abu Dhabi\u2019s sovereign wealth fund ADQ is a holding company with a portfolio spanning several industries ranging from sustainable energy to mobility and logistics. Vision Invest \u2014 previously known as Acwa Holding \u2014 is a Saudi Arabian holding company. Veolia Middle East is a resource management firm specializing in environmental services such as municipal water and wastewater treatment plants.<\/p>\n<p><strong>About Adnoc Refining:<\/strong> The refinery is a joint venture between UAE-owned Adnoc, Italian energy giant <a href=\"https:\/\/www.eni.com\/en-IT\/home.html\">Eni<\/a>, and Austria-based integrated oil and gas company <a href=\"https:\/\/www.omv.com\/en\">OMV<\/a>. The refinery was established in 1982 and is reportedly the world\u2019s fourth largest single-site refinery where liquefied petroleum gas, unleaded gasoline, diesel, jet fuel, and other fuels are produced.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/acquisitions\/\">acquisitions<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/adnoc-refining\/\">Adnoc Refining<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/waste-management\/\">waste management<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74667\" 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=\"74667\">\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\">SOLAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/07\/acwa-power-gets-green-light-on-floating-solar-plants-in-indonesia\/\">\r\n                            Acwa Power gets green light on floating solar plants in Indonesia                        <\/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\/07\/acwa-power-gets-green-light-on-floating-solar-plants-in-indonesia\/\" 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\/07\/acwa-power-gets-green-light-on-floating-solar-plants-in-indonesia\/')\">\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\/07\/acwa-power-gets-green-light-on-floating-solar-plants-in-indonesia\/\">\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=Acwa Power gets green light on floating solar plants in Indonesia&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/07\/acwa-power-gets-green-light-on-floating-solar-plants-in-indonesia\/\">\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\/07\/acwa-power-gets-green-light-on-floating-solar-plants-in-indonesia\/&title=Acwa Power gets green light on floating solar plants in Indonesia\">\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=Acwa+Power+gets+green+light+on+floating+solar+plants+in+Indonesia+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F07%2Facwa-power-gets-green-light-on-floating-solar-plants-in-indonesia%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\/07\/acwa-power-gets-green-light-on-floating-solar-plants-in-indonesia\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/6412.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"74668\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/07\/acwa-power-gets-green-light-on-floating-solar-plants-in-indonesia\/6412-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/6412.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"6412.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/6412.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/6412.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74667\" class=\"content-area-description single-story post-74667 post type-post status-publish format-standard has-post-thumbnail hentry category-solar tag-enterpriseclimate tag-indonesia tag-renewables tag-saudi-arabia tag-solar tag-solar-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-04\"><\/a> <strong>Tadawul-listed<\/strong> <strong><a href=\"https:\/\/acwapower.com\/en\/\">Acwa Power<\/a><\/strong><strong> enters Indonesia: <\/strong>Indonesia\u2019s state-owned electricity utility company <a href=\"https:\/\/ecc.co.id\/company\/site\/view\/188\">PT Perusahaan Listrik Negara<\/a> (PLN) has tapped Acwa Power to develop two floating solar PV solar projects worth USD 105 mn, according to a <a href=\"https:\/\/www.acwapower.com\/news\/acwa-power-set-to-enter-indonesia-with-two-floating-solar-pv-projects\/\">company statement<\/a>.<\/p>\n<p><strong>The details: <\/strong>The floating projects will yield 60 and 50 MW of AC power (<a href=\"https:\/\/www.lawinsider.com\/dictionary\/mwac\">MWac<\/a>) each and will be the first of their kind for Acwa Power, whose equity in the projects amounts to 49%. The majority stake will be held by <a href=\"https:\/\/www.plnindonesiapower.co.id\/id\/Default.aspx\">Indonesia Power<\/a> \u2014 a subsidiary of PLN.<\/p>\n<p><strong>Indonesia has a renewables target:<\/strong> The country\u2019s National General Energy Plan aims to secure 23% of Indonesia\u2019s energy needs from renewables by 2025.<\/p>\n<p><strong>IN CONTEXT<\/strong>- Entry into the Indonesian market is one of many moves <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/22d4a955-7c97-4dfa-8f6b-ada43e3ad760\">planned to take<\/a>, in addition to eyeing a project in Thailand, CEO Paddy Padmanathan told <a href=\"https:\/\/www.arabnews.com\/node\/2188796\/business-economy\">Arab News<\/a> last month. Acwa Power is also mulling new projects in existing markets like Uzbekistan, Azerbaijan, South Africa, Morocco, Senegal, and Egypt. The energy giant\u2019s 700 MW solar power plant in Dubai is set to come online in 2023, Padmanathan said.<\/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\/indonesia\/\">Indonesia<\/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\/saudi-arabia\/\">Saudi Arabia<\/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\/solar-energy\/\">solar 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=\"74669\" 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=\"74669\">\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\">REGULATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/07\/egypts-cbe-issues-binding-sustainable-finance-regulations\/\">\r\n                            Egypt\u2019s CBE issues binding sustainable finance regulations                        <\/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\/07\/egypts-cbe-issues-binding-sustainable-finance-regulations\/\" 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\/07\/egypts-cbe-issues-binding-sustainable-finance-regulations\/')\">\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\/07\/egypts-cbe-issues-binding-sustainable-finance-regulations\/\">\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\u2019s CBE issues binding sustainable finance regulations&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/07\/egypts-cbe-issues-binding-sustainable-finance-regulations\/\">\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\/07\/egypts-cbe-issues-binding-sustainable-finance-regulations\/&title=Egypt\u2019s CBE issues binding sustainable finance regulations\">\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%E2%80%99s+CBE+issues+binding+sustainable+finance+regulations+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F07%2Fegypts-cbe-issues-binding-sustainable-finance-regulations%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\/07\/egypts-cbe-issues-binding-sustainable-finance-regulations\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/245.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"74670\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/07\/egypts-cbe-issues-binding-sustainable-finance-regulations\/245-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/245.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"245.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/245.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/245.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74669\" class=\"content-area-description single-story post-74669 post type-post status-publish format-standard has-post-thumbnail hentry category-regulation-watch tag-central-bank-of-egypt tag-egypt tag-enterpriseclimate tag-green-finance tag-regulation-watch 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-06\"><\/a> <strong>The Central Bank of Egypt (CBE) has issued a series of binding regulations to <\/strong><strong>promote sustainable finance<\/strong>, according to a circular (<a href=\"https:\/\/ent.news\/2022\/11\/Circular-dated-3-November-2022-regarding-Sustainable-Finance-Regulations.pdf\">pdf<\/a>) released last week. The regulations come in a bid to realize sustainable development goals after a recent bank survey indicated sustainable finance activities in banks needed to be bolstered by a \u201cbinding framework.\u201d<\/p>\n<p><strong>What do the regulations mean for banks in Egypt? <\/strong>The regulations mandate that all banks operating in Egypt will establish an independent unit to overlook sustainable and sustainable finance by 1 April, 2023 and submit quarterly and yearly reports tracking their sustainable finance activities by 31 March of each year starting 2024. Each bank will hire an Environment Ministry-certified consultant to assess environmental risks for major projects seeking funding starting July 2023 and incorporate sustainable finance policies into lending and investment.<\/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\/central-bank-of-egypt\/\">Central Bank of Egypt<\/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\/green-finance\/\">green finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/regulation-watch\/\">REGULATION WATCH<\/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=\"74671\" 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=\"74671\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/07\/acwa-power-back-in-the-black\/\">\r\n                            Acwa Power back in the black                        <\/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\/07\/acwa-power-back-in-the-black\/\" 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\/07\/acwa-power-back-in-the-black\/')\">\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\/07\/acwa-power-back-in-the-black\/\">\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=Acwa Power back in the black&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/07\/acwa-power-back-in-the-black\/\">\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\/07\/acwa-power-back-in-the-black\/&title=Acwa Power back in the black\">\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=Acwa+Power+back+in+the+black+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F07%2Facwa-power-back-in-the-black%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\/07\/acwa-power-back-in-the-black\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74671\" class=\"content-area-description single-story post-74671 post type-post status-publish format-standard hentry category-earnings-watch tag-acwa-power tag-earnings-watch tag-enterpriseclimate tag-ipo-watch tag-renewables tag-saudi-arabia 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>Acwa Power reported SAR 341.7k in net income after Zakat and tax<\/strong><strong> in 3Q 2022, reversing its net loss position of SAR 27k during the same quarter last year,<\/strong> according to its <a href=\"https:\/\/tools.euroland.com\/tools\/PressReleases\/GetPressRelease\/?ID=4184797&lang=en-GB&companycode=services\">earning release (pdf)<\/a>. Revenues for the quarter came in at SAR 1.26 mn, remaining essentially flat y-o-y. The improvement in Acwa\u2019s bottom line was mainly due to lower development costs, provisions and write-offs in 3Q 2022 compared to 3Q 2021, higher-than-normal share-based payment expenses in 3Q 2021 following the company\u2019s IPO, and increased income from a higher fair value of its derivatives, the earnings release noted.<\/p>\n<p><strong>On a nine-month basis, Acwa\u2019s net income jumped 110% y-o-y to SAR 883k<\/strong>, on revenues of SAR 3.7 mn, slipping 1.5% y-o-y. The company attributed the higher revenues in 9M 2022 to the same factors as its improved 3Q 2022 bottom 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\/acwa-power\/\">ACWA Power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/earnings-watch\/\">EARNINGS WATCH<\/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\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74672\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74673\" 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=\"74673\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/07\/egypts-sczone-could-get-investment-wing-morocco-tests-patented-tech-for-renewables-production\/\">\r\n                            Egypt\u2019s SCZone could get investment wing + Morocco tests patented tech for renewables production                        <\/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\/07\/egypts-sczone-could-get-investment-wing-morocco-tests-patented-tech-for-renewables-production\/\" 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\/07\/egypts-sczone-could-get-investment-wing-morocco-tests-patented-tech-for-renewables-production\/')\">\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\/07\/egypts-sczone-could-get-investment-wing-morocco-tests-patented-tech-for-renewables-production\/\">\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\u2019s SCZone could get investment wing + Morocco tests patented tech for renewables production&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/07\/egypts-sczone-could-get-investment-wing-morocco-tests-patented-tech-for-renewables-production\/\">\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\/07\/egypts-sczone-could-get-investment-wing-morocco-tests-patented-tech-for-renewables-production\/&title=Egypt\u2019s SCZone could get investment wing + Morocco tests patented tech for renewables production\">\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%E2%80%99s+SCZone+could+get+investment+wing+%2B+Morocco+tests+patented+tech+for+renewables+production+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F07%2Fegypts-sczone-could-get-investment-wing-morocco-tests-patented-tech-for-renewables-production%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\/07\/egypts-sczone-could-get-investment-wing-morocco-tests-patented-tech-for-renewables-production\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74673\" class=\"content-area-description single-story post-74673 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-cop27 tag-enterpriseclimate tag-green-ammonia tag-green-hydrogen tag-gutech tag-marafiq tag-morocco tag-oq-group tag-pif tag-renewables tag-sczone wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Egypt\u2019s SCZone could be getting its own investment company:<\/strong> Egypt\u2019s Suez Canal Economic Zone (SCZone) intends to set up an investment company to channel funds into the zone\u2019s projects as part of a raft of measures designed to spur FDI, SCZone head Walid Gamal El Din <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02QxddqTy6wumF1XwcUgkbJcz84NYjHqej5p5posKdXrSn4TLLPaVEmh8BE5Ca9sbVl\">said<\/a> on Saturday. The board also discussed plans to turn the SCZone into <a href=\"https:\/\/enterprise.press\/stories\/2022\/11\/06\/sczone-might-be-getting-an-investment-arm-86195\/\">a regional hub<\/a> for green hydrogen, green ammonia and other clean energy initiatives.<\/p>\n<p><strong><a href=\"http:\/\/www.um6p.ma\/index.php\/en\">Mohammed VI Polytechnic University<\/a><\/strong> in Morocco, London-headquartered renewables company <strong><a href=\"https:\/\/www.oortenergy.com\/\">Oort Energy<\/a><\/strong> and UK-based energy firm <strong><a href=\"https:\/\/www.chariotenergygroup.com\/\">Chariot<\/a><\/strong> will launch pilot projects to test the feasibility of implementing Oort\u2019s patented water splitting technology in the use of large-scale green hydrogen and ammonia production, according to <a href=\"https:\/\/www.meed.com\/chariot-to-work-with-morocco-on-hydrogen\">MEED<\/a>.<\/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\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-ammonia\/\">GREEN AMMONIA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/gutech\/\">GUtech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/marafiq\/\">marafiq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/morocco\/\">Morocco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/oq-group\/\">OQ Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/pif\/\">PIF<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74674\" 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=\"74674\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/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\/07\/egyptians-need-to-have-fewer-babies-to-survive-water-absolute-water-scarcity\/\">\r\n                            Egyptians need to have fewer babies to survive water \u2018absolute water scarcity\u2019                        <\/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\/07\/egyptians-need-to-have-fewer-babies-to-survive-water-absolute-water-scarcity\/\" 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\/07\/egyptians-need-to-have-fewer-babies-to-survive-water-absolute-water-scarcity\/')\">\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\/07\/egyptians-need-to-have-fewer-babies-to-survive-water-absolute-water-scarcity\/\">\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=Egyptians need to have fewer babies to survive water \u2018absolute water scarcity\u2019&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/07\/egyptians-need-to-have-fewer-babies-to-survive-water-absolute-water-scarcity\/\">\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\/07\/egyptians-need-to-have-fewer-babies-to-survive-water-absolute-water-scarcity\/&title=Egyptians need to have fewer babies to survive water \u2018absolute water scarcity\u2019\">\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=Egyptians+need+to+have+fewer+babies+to+survive+water+%E2%80%98absolute+water+scarcity%E2%80%99+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F07%2Fegyptians-need-to-have-fewer-babies-to-survive-water-absolute-water-scarcity%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\/07\/egyptians-need-to-have-fewer-babies-to-survive-water-absolute-water-scarcity\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/191.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"74675\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/07\/egyptians-need-to-have-fewer-babies-to-survive-water-absolute-water-scarcity\/191-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/191.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"191.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/191.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/191.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74674\" class=\"content-area-description single-story post-74674 post type-post status-publish format-standard has-post-thumbnail hentry category-on-your-way-out tag-enterpriseclimate tag-food-security tag-on-your-way-out tag-population-growth tag-water-security wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Egypt's population has nearly quadrupled over the last 60 years while water<\/strong> <strong>scarcity continues to threaten the nation, <\/strong>the <a href=\"https:\/\/www.washingtonpost.com\/world\/2022\/11\/06\/egypt-cop27-climate-change-population\/\">Washington Post<\/a> reports. Between 2014 and 2021, Egypt\u2019s birth rate has dropped 20% from 3.5 to 2.8 children per woman, WaPo reports citing <a href=\"https:\/\/www.capmas.gov.eg\">CAPMAS<\/a> figures. The Egyptian government continues to push family planning \u2014 including with its <a href=\"https:\/\/enterprise.press\/stories\/2018\/05\/27\/social-solidarity-ministry-launches-two-is-enough-family-planning-program\/\">\u201cTwo is Enough\u201d family planning program<\/a> \u2014 as the country nears \u201cabsolute water scarcity,\u201d according to <a href=\"https:\/\/www.unicef.org\/egypt\/media\/9321\/file\/The%20Road%20to%20COP27_%20Shifting%20Behaviors%20to%20Address%20Climate%20Change%20in%20Egypt.pdf\">a recent report<\/a> published by UNICEF and the American University in Cairo. To manage resource shortages, the country would need to reduce yearly births by over half \u2014 400k down from over 2 mn last year, the government has said \u2014 but over 1 mn babies were born in the past seven months alone, WaPo reports.<\/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\/food-security\/\">food security<\/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\/population-growth\/\">population growth<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/water-security\/\">Water security<\/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=\"74676\" 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\/07\/74676\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74676\" class=\"content-area-description single-story post-74676 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>7-18 November (Monday-Friday): Egypt will host <a href=\"https:\/\/www.cop27egy.com\/\">COP27<\/a> in Sharm El Sheikh.<\/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>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":74657,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-74656","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"84f7f480-d695-4abe-afba-dc9fc4d5fd99","teaser":"","photo_url":"https:\/\/ent.news\/2022\/11\/115.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Loss and damage financing is on the COP agenda - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/issues\/loss-and-damage-financing-is-on-the-cop-agenda\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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