{"id":74688,"date":"2022-11-08T02:10:48","date_gmt":"2022-11-08T02:10:48","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=74688"},"modified":"2025-12-15T08:06:56","modified_gmt":"2025-12-15T08:06:56","slug":"somber-warnings-as-world-leaders-summit-kicks-off-at-cop27","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/somber-warnings-as-world-leaders-summit-kicks-off-at-cop27\/","title":{"rendered":"Somber warnings as world leaders\u2019 summit kicks off at COP27"},"content":{"rendered":"<section id=\"74690\" 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=\"74690\">\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\/08\/today-cop27-world-leaders-summit-kicks-off-the-first-interview-in-our-enterprise-climate-ceo-poll-series-gcc-developments-at-risk-of-rising-sea-levels\/\">\r\n                            TODAY: COP27 world leaders\u2019 summit kicks off + The first interview in our Enterprise Climate CEO Poll series + GCC developments at risk of rising sea levels                        <\/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\/08\/today-cop27-world-leaders-summit-kicks-off-the-first-interview-in-our-enterprise-climate-ceo-poll-series-gcc-developments-at-risk-of-rising-sea-levels\/\" 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\/08\/today-cop27-world-leaders-summit-kicks-off-the-first-interview-in-our-enterprise-climate-ceo-poll-series-gcc-developments-at-risk-of-rising-sea-levels\/')\">\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\/08\/today-cop27-world-leaders-summit-kicks-off-the-first-interview-in-our-enterprise-climate-ceo-poll-series-gcc-developments-at-risk-of-rising-sea-levels\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=TODAY: COP27 world leaders\u2019 summit kicks off + The first interview in our Enterprise Climate CEO Poll series + GCC developments at risk of rising sea levels&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/08\/today-cop27-world-leaders-summit-kicks-off-the-first-interview-in-our-enterprise-climate-ceo-poll-series-gcc-developments-at-risk-of-rising-sea-levels\/\">\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\/08\/today-cop27-world-leaders-summit-kicks-off-the-first-interview-in-our-enterprise-climate-ceo-poll-series-gcc-developments-at-risk-of-rising-sea-levels\/&title=TODAY: COP27 world leaders\u2019 summit kicks off + The first interview in our Enterprise Climate CEO Poll series + GCC developments at risk of rising sea levels\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=TODAY%3A+COP27+world+leaders%E2%80%99+summit+kicks+off+%2B+The+first+interview+in+our+Enterprise+Climate+CEO+Poll+series+%2B+GCC+developments+at+risk+of+rising+sea+levels+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F08%2Ftoday-cop27-world-leaders-summit-kicks-off-the-first-interview-in-our-enterprise-climate-ceo-poll-series-gcc-developments-at-risk-of-rising-sea-levels%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\/08\/today-cop27-world-leaders-summit-kicks-off-the-first-interview-in-our-enterprise-climate-ceo-poll-series-gcc-developments-at-risk-of-rising-sea-levels\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74690\" class=\"content-area-description single-story post-74690 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-climate-change tag-cop27 tag-enterpriseclimate tag-gcc tag-water tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Good morning, ladies and gentlemen.<\/strong> Between the first day of the world leaders\u2019 summit at COP27 and the first interview in our Enterprise Climate CEO Poll series, we have a busy issue for you \u2014 let\u2019s jump right in:<\/p>\n<p><strong>THE BIG CLIMATE STORY EVERYWHERE- COP27, naturally enough. <\/strong>Egypt\u2019s President Abdel Fattah El Sisi opened the conference yesterday, calling on countries to tackle climate change \u201cto the degree that they can,\u201d followed by a series of somber speeches from world leaders filled with warnings of \u201cirreversible\u201d climate chaos.<\/p>\n<p><strong>SOUNDBITE OF THE DAY-<\/strong> UN Secretary General Antonio Guterres said \u201c<strong>we are on a <\/strong><strong>highway to <\/strong><strong>climate hell with our foot still on the accelerator<\/strong>.\u201d<\/p>\n<p><strong>This morning\u2019s Enterprise Climate soundtrack <\/strong>is, naturally enough, <strong><a href=\"https:\/\/www.youtube.com\/watch?v=l482T0yNkeo\">this<\/a><\/strong>. Thank you, Angus Young.<\/p>\n<p><strong>We\u2019re starting the second and final day of<\/strong><strong> the world leaders\u2019 summit, with more national <\/strong><strong>statements on the<\/strong><strong> docket<\/strong><strong>.<\/strong> A video message from Ukrainian President <strong>Volodymyr Zelenskyy <\/strong>will play at the conclusion of the national statements. The session is expected to start at 10:30am CLT (11:30am KSA \/ 12:30pm UAE) and continue until the end of the day, 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>Among those speaking today<\/strong> \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 Libyan President <strong>Mohamed Menfi<\/strong>, Lebanon\u2019s Prime Minister <strong>Mohamad Najib Mikati<\/strong>, Tunisian Prime Minister <strong>Najla Bouden Ep Romdhan<\/strong>, Palestinian Prime Minister <strong>Mohammad I. M. Shtayyeh<\/strong>;<\/li>\n<li>European leaders, including European Council President <strong>Charles Michel<\/strong>, European Commission President <strong>Ursula von der Leyen<\/strong>;<\/li>\n<li>South African President <strong>Matamela Cyril Ramaphosa<\/strong>.<\/li>\n<\/ul>\n<p><strong>AND THEN WHAT\u2026? Don\u2019t expect any big announcements or major breakthroughs after <\/strong><strong>leaders are done giving their speeches today.<\/strong> The key issues at play (loss and damage, emission reduction targets etc.) are being negotiated by government delegations over the next 10 days <strong>so we\u2019ll likely have to wait until 18 November for a final agreement<\/strong> to come out of COP27.<\/p>\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 2 \u2014 and what to look out for over the next few days \u2014 in the news well, below.<\/p>\n<p><strong>KEY COP DATES-<\/strong><\/p>\n<p>Among the days and themes that we think are most relevant to MENA business leaders:<\/p>\n<ul>\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<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<hr class=\"grey-line\">\n<p class='web-image'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/Climate-X-6-Dec-1600px.jpg?ssl=1\" alt='enterprise'><\/p>\n<p><strong>The Enterprise Climate X Forum, our first industry-specific conference is taking place on <\/strong><strong>Tuesday, 6 December. <\/strong>It\u2019s a C-suite event for CEOs and top execs, investors, bankers and development finance folks.<\/p>\n<p>In panels, live interviews and networking sessions, <strong>the Enterprise Climate X Forum will give 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<\/li>\n<\/ul>\n<p><strong>DO YOU WANT TO ATTEND? The first wave of invites is going out <\/strong><strong>now<\/strong><strong>. <\/strong>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>You\u2019re going to love the venue when we unveil it next week.<\/strong><\/p>\n<p><strong>Want to reach our audience? <\/strong>Ping a note to Moustafa Taalab, our head of commercial, <a href=\"mailto:mtaalab@inktankir.com\">here<\/a>.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"climate\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><p>***<br \/>\n <strong>YOU\u2019RE READING ENTERPRISE CLIMATE, the essential regional publication for senior execs who care about the world\u2019s most important industry. <\/strong>Enterprise Climate covers everything from finance and tech to regulation, products and policy across the Middle East and North Africa. In a nod to the growing geographical ambitions of companies in our corner of the world, we also include an overview of the big trends and data points in nearby countries, including Africa and southern Europe.<\/p>\n<p><strong>Enterprise Climate is published at 4am CLT \/ 5am Riyadh \/ 6am UAE Monday through Thursday by Enterprise<\/strong>, the folks who bring you Enterprise Egypt, your essential 6am and 3pm read on business, finance, policy and economy in Egypt and emerging markets.<\/p>\n<p><strong><a href=\"https:\/\/climate.enterprise.press\/subscribe\/\">Subscribe to Enterprise Climate here<\/a><\/strong> or reach out to us on <a href=\"mailto:climate@enterprisemea.com\">climate@enterprisemea.com<\/a> with comments, suggestions and story tips.<\/p>\n<p>***<\/p>\n<hr class=\"grey-line\">\n<p><strong>DANGER ZONE- <\/strong><strong>GCC coastal region at risk due to rising sea levels:<\/strong> Sea levels are rising faster than many of the Gulf\u2019s coastal developments are built to accommodate, leaving these developments increasingly exposed to climate change, the <a href=\"https:\/\/www.thenationalnews.com\/weekend\/2022\/11\/04\/sea-level-rises-caused-by-climate-change-will-destroy-island-countries\/\">National<\/a> reports, citing engineering consultancy <a href=\"https:\/\/www.wsp.com\/en-AE\">WSP Middle East<\/a>. Many developments are built with conservative expectations that sea levels will rise approximately one meter, although a 2021 <a href=\"https:\/\/report.ipcc.ch\/ar6\/wg1\/IPCC_AR6_WGI_FullReport.pdf\">report (pdf)<\/a> by the <a href=\"http:\/\/v\">Intergovernmental Panel on Climate Change<\/a> says sea levels could rise up to 2 meters if carbon emissions are not reduced significantly. Developers should invest in assessing their projects\u2019 resilience to climate change and creating sand dunes for instance to ward off excess water, WSP says.<\/p>\n<p><strong>Waters are getting higher and warmer:<\/strong> The Arabian Gulf water temperature is expected to rise by 4.26\u00b0C by 2039, resulting in devastating effects on marine biology, including coral bleaching, the National reports. In Egypt, rising water levels could lead to the erosion of the Nile Delta, and global floods are expected to increase tenfold by 2050, endangering people, agricultural land, and wildlife.<\/p>\n<hr class=\"grey-line\">\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<\/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><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/gcc\/\">GCC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/water\/\">water<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a 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category-cop-watch tag-cop-watch tag-cop27 tag-enterpriseclimate wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>COP27 got underway in earnest yesterday with some world leaders <\/strong><strong>pressing calls <\/strong><strong>to action to prevent \u201cclimate catastrophe\u201d:<\/strong> World leaders struck a serious and somber note with warnings of \u201cirreversible\u201d climate chaos and calls for cooperation and shared responsibility on the first day of the COP27 leaders\u2019 summit yesterday. Inaugurating the conference, President Abdel Fattah El Sisi said we are in a \u201cworld of suffering\u201d and called on all countries to assume responsibility to tackle climate change \u201cto the degree that they can\u201d (<a href=\"https:\/\/www.youtube.com\/watch?v=EJzqFOeyTnE&list=PLtD6YOC_kbMjlDTyt4sdAMbnC_SWszBPS&index=4\">watch, runtime: 19:50<\/a>).<\/p>\n<p><strong>One clear message: The status quo can\u2019t continue.<\/strong> \u201cGreenhouse gas emissions keep growing. Global temperatures keep rising. And our planet is fast approaching tipping points that will make climate chaos irreversible,\u201d said UN Secretary General Antonio Guterres (<a href=\"https:\/\/www.youtube.com\/watch?v=YAVgd5XsvbE\">watch, runtime: 10:15<\/a>). \u201c<strong>We are on a highway to climate hell with our foot still on the accelerator.<\/strong>\u201d<\/p>\n<p><strong>THE GREAT ENERGY DEBATE<\/strong><\/p>\n<p><strong>Coming under fire? Slow-to-act developed economies: <\/strong>Global leaders have a \u201ccredibility problem\u201d when it comes to taking action on climate change, said former US Vice President and long-time climate advocate Al Gore (<a href=\"https:\/\/www.youtube.com\/watch?v=qLTcC7srnLw\">watch, runtime: 14:50<\/a>). Developed nations\u2019 continued pursuit of Africa\u2019s gas resources is \u201cfossil fuel colonialism,\u201d said Gore, and will lead to \u201cclimate chaos and bns in stranded assets, especially here in Africa.\u201d<\/p>\n<p><strong>Africa could be the \u201crenewable energy superpower,\u201d<\/strong> Gore said. 40% of the global potential for renewables is in Africa, he added.<\/p>\n<p><strong>Rich countries have already turbocharged climate change \u2014 now they need to help <\/strong><strong>emerging markets cope with the fallout.<\/strong> El Sisi called for \u201cconcrete action that has a clear, tangible impact\u201d \u2014 and that helps emerging markets develop their economies. Guterres called for a \u201cclimate solidarity pact\u201d to increase emissions reduction efforts (a rich-country demand), spur the energy transition and help vulnerable countries adapt to climate change. This pact should focus particularly on \u201cphasing out\u201d coal usage everywhere by 2040: \u201cThe two largest economies \u2014 the United States and China \u2014 have a particular responsibility to join efforts to make this pact a reality,\u201d Guterres added.<\/p>\n<p><strong>But not everyone\u2019s on board with a move away from fossil fuels: <\/strong>\u201cThe UAE is considered a responsible supplier of energy and it will continue playing this role as long as the world is in need of oil and gas,\u201d said UAE President Mohammed bin Zayed Al Nahyan, who took the stage immediately after Guterres (<a href=\"https:\/\/www.youtube.com\/watch?v=m6iCBzQ0XuE\">watch, runtime: 7:33<\/a>). Dubai will host COP28 next year. Senegal\u2019s President and Chairperson of the African Union Macky Sall, underscored a similar point, saying: \u201cWe are for a green transition that is equitable and just, instead of decisions that jeopardize our development, including universal access to electricity to which 600 mn Africans remain deprived,\u201d he said (<a href=\"https:\/\/www.youtube.com\/watch?v=3FHePsUlpdo\">watch, runtime: 07:48<\/a>).<\/p>\n<p><strong>CLIMATE FINANCE IS THE CARROT-<\/strong><\/p>\n<p><strong>The success of the drive to put climate at the top of the world\u2019s agenda hinges on the <\/strong><strong>delivery of climate finance<\/strong>, former UN climate chief Patricia Espinosa told <a href=\"https:\/\/www.reuters.com\/business\/cop\/cop27-climate-talks-must-wrench-attention-competing-crises-2022-11-07\/\">Reuters<\/a>. World leaders have been focused on the threat of a global recession and the war in Ukraine, making COP27 \u201ca very important conference\u201d to put climate change back at the top of the agenda, she said.<\/p>\n<p><strong>That makes finance for adaptation, loss and damage key<\/strong>, Espinosa told the newswire. Will we see rich countries agree at COP27 to set up a new funding facility for this? \u201cI hope so, but I would not be that optimistic about it,\u201d she said.<\/p>\n<p><strong>A \u201ccommitment to unlocking concessional funding for climate vulnerable countries,\u201d is<\/strong><strong> essential<\/strong>, said Barbados Prime Minister Mia Mottley, speaking at the summit opening (<a href=\"https:\/\/www.youtube.com\/watch?v=5J0egwAfO0w\">watch, runtime: 13:35<\/a>). \u201cThere is no way that developing countries \u2026 can fight this battle\u201d without this funding, she added.<\/p>\n<p><strong>Mottley wants the IMF to give the private sector more money for climate projects<\/strong>, <a href=\"https:\/\/www.reuters.com\/markets\/us\/barbados-mottley-says-imf-must-help-finance-fight-against-climate-change-2021-12-03\/\">reiterating her call<\/a> from last year for the IMF to issue USD 500 bn a year in special drawing rights (SDRs) earmarked specifically for climate finance. SDRs are a kind of international reserve currency or asset designed to act as a supplement to IMF member countries\u2019 reserves, <a href=\"https:\/\/enterprise.press\/stories\/2021\/12\/28\/covid-era-debt-trends-didnt-quite-keep-up-in-2021-61493\/\">EnterpriseAM<\/a> noted previously.<\/p>\n<p><strong>Sobering testimony from Pakistan shows what\u2019s at stake: <\/strong>Pakistan needs immediate debt relief and loss and damage compensation to get back on its feet after disastrous floods earlier this year claimed north of 1k lives, caused more than USD 10 bn of damage, and displaced >30 mn people, Prime Minister Shehbaz Sharif said at a joint press conference with Guterres yesterday (<a href=\"https:\/\/www.youtube.com\/watch?v=vSbqBrsIUMk\">watch, runtime: 13:04<\/a>). Climate compensation advocates \u2014 including Egypt climate czar Mahmoud Mohieldin \u2014 have <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\/\">repeatedly called<\/a> for debt-reduction mechanisms and an emphasis on investment to help emerging market climate change adaptation.<\/p>\n<p><strong>AND THEN THERE ARE STICKS\u2026<\/strong><\/p>\n<p><strong>The price of carbon needs to more than double to average at least USD 75 \/ ton by 2030 <\/strong><strong>for<\/strong><strong> global climate goals to succeed,<\/strong> IMF Managing Director Kristalina Georgieva <a href=\"https:\/\/www.reuters.com\/business\/cop\/exclusive-cop27-imf-chief-says-75ton-carbon-price-needed-by-2030-2022-11-07\/\">told Reuters<\/a> on the sidelines of COP. Without this, \u201cwe simply don't create the incentive for businesses and consumers to shift,\u201d Georgieva added, characterizing the pace of change in the real economy as \u201cway too slow.\u201d In many countries, \u201cthe acceptance of pricing pollution is still low,\u201d said Georgieva. California currently prices carbon allowances at just under USD 30 \/ ton, Reuters notes.<\/p>\n<p><strong>FUNDING ANNOUNCEMENTS<\/strong><\/p>\n<p><strong>We saw now grand single- or muti-nation announcement on climate funding yesterday. <\/strong>Instead:<\/p>\n<p><strong>Saudi Arabia is contributing USD 2.5 bn to its Middle East Green Initiative in the coming <\/strong><strong>10 years<\/strong>, <a href=\"https:\/\/www.reuters.com\/business\/sustainable-business\/saudi-arabia-commits-25-bln-middle-east-green-initiative-crown-prince-2022-11-07\/\">Reuters reports<\/a> Crown Prince Mohammed bin Salman saying yesterday. The initiative \u2014 launched by MbS last year \u2014 aims to reduce CO2 emissions from regional hydrocarbon production by over 60%. KSA previously said it planned to contribute 15% of the USD 10.4 bn needed for the clean energy projects it would run, <a href=\"https:\/\/www.reuters.com\/business\/sustainable-business\/saudi-arabia-commits-25-bln-middle-east-green-initiative-crown-prince-2022-11-07\/\">Reuters notes<\/a>. The Kingdom\u2019s sovereign wealth fund, the Public Investment Fund, is also aiming for net-zero emissions by 2050, MbS added.<\/p>\n<p><strong>The ticket sizes got smaller and smaller from there:<\/strong><\/p>\n<ul>\n<li><strong>Belgium is earmarking EUR 2.5 mn for loss and damage<\/strong> out of a new EUR 25 mn support package to Mozambique from 2023-2028, Minister for Development Cooperation Frank Vandenbroucke said in <a href=\"https:\/\/vandenbroucke.belgium.be\/fr\/nouveau-partenariat-entre-la-belgique-et-le-mozambique-dans-le-cadre-du-changement-climatique\">a statement<\/a> yesterday. It\u2019s a pittance, but Belgium is only the third country \u2014 other than Scotland and Denmark \u2014 to pledge funding for climate change-driven loss and damage, <a href=\"https:\/\/www.reuters.com\/business\/cop\/belgium-pledges-climate-loss-damage-funding-mozambique-2022-11-07\/\">Reuters<\/a>notes. <\/li>\n<li><strong>The UK is investing over GBP 100 mn (USD 115 mn) to help developing countries <\/strong><strong>implement climate change adaptation measures<\/strong>, Foreign Minister James Cleverly <a href=\"https:\/\/www.reuters.com\/world\/uk\/uk-pledges-more-than-115-mln-developing-economies-tackle-climate-change-2022-11-07\/\">said<\/a>.<\/li>\n<\/ul>\n<p><strong>OTHER FUNDING- <\/strong><\/p>\n<p><strong>The Bill & Melinda Gates Foundation has pledged USD 1.4 bn to increase resilience in the <\/strong><strong>work practices of smallholder farmers<\/strong> in sub-Saharan Africa and South Asia, to ultimately improve food security, it announced in <a href=\"https:\/\/www.gatesfoundation.org\/ideas\/media-center\/press-releases\/2022\/11\/helping-african-and-asian-farmers-with-climate-change-adaptation\">a statement<\/a> yesterday. The funds will go towards climate smart agriculture projects, applying innovations like digital tech, and supporting women farmers \u2014 who make up some 43% of agricultural laborers in developing countries, but whose access to finance is often restricted, <a href=\"https:\/\/www.reuters.com\/business\/cop\/gates-foundation-gives-14-bln-climate-help-smallholder-farmers-2022-11-07\/\">Reuters notes<\/a>.<\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/www.bezosearthfund.org\/\">Bezos Earth Fund<\/a><\/strong><strong> announced USD 50 mn would be used to support Africa\u2019s \u201clocally <\/strong><strong>led restoration movement,\u201d<\/strong> as part of a USD 1 bn commitment to restoration made last year at COP26, in <a href=\"https:\/\/www.bezosearthfund.org\/press-releases\/bezos-earth-fund-commits-50-million-to-african-restoration\">a statement<\/a>. Still, philanthropic organizations shouldn\u2019t be expected to fill the climate finance gaps left by governments, Bezos Earth Fund President and CEO Andrew Steer told <a href=\"https:\/\/www.theguardian.com\/environment\/2022\/nov\/07\/billionaires-should-not-make-up-climate-finance-gaps-says-bezos-earth-fund-head\">the Guardian<\/a> ahead of COP.<\/p>\n<p><strong>COOPERATION PLEDGES- <\/strong><\/p>\n<p><strong>Over 25 countries launched a group yesterday to spur accountability and action on a<\/strong><strong> pledge to end deforestation by 2030<\/strong> <a href=\"https:\/\/www.gov.uk\/government\/news\/over-100-leaders-make-landmark-pledge-to-end-deforestation-at-cop26\">announced at COP26<\/a>, according to <a href=\"https:\/\/www.gov.uk\/government\/news\/world-leaders-launch-forests-and-climate-leaders-partnership-to-accelerate-momentum-to-halt-and-reverse-forest-loss-and-land-degradation-by-2030\">a statement<\/a> issued by COP26 President Alok Sharma. The countries announced USD bns in additional financing to fulfill the pledge. The group collectively accounts for some 35% of the world\u2019s forests and will aim to meet biannually for progress updates, <a href=\"https:\/\/www.reuters.com\/business\/cop\/cop27-countries-band-together-protect-forests-2022-11-07\/\">Reuters<\/a> notes.<\/p>\n<p><strong>Drought-stricken countries are banding together to share tech and expertise to manage<\/strong><strong> water scarcity<\/strong> \u2014 with Senegal and Spain taking the lead, <a href=\"https:\/\/www.reuters.com\/business\/cop\/cop27-drought-stricken-work-together-fight-water-woes-2022-11-07\/\">Reuters reported<\/a>. The alliance will mobilize resources on an as-needed basis, Spain\u2019s President Pedro S\u00e1nchez P\u00e9rez-Castej\u00f3n is reported to have said in a statement, without revealing what level of funding would be provided.<\/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\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74694\" 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=\"74694\">\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\">CLIMATE CEO POLL<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/08\/the-enterprise-climate-ceo-poll-signifys-mohamed-saad\/\">\r\n                            The Enterprise Climate CEO Poll: Signify\u2019s Mohamed Saad                        <\/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\" 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           <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/08\/the-enterprise-climate-ceo-poll-signifys-mohamed-saad\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/3241.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"74695\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/08\/the-enterprise-climate-ceo-poll-signifys-mohamed-saad\/3241-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/3241.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"3241.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/3241.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/3241.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74694\" class=\"content-area-description single-story post-74694 post type-post status-publish format-standard has-post-thumbnail hentry category-climate-ceo-poll tag-climate-ceo-poll tag-cop27 tag-enterpriseclimate tag-mohamed-saad tag-signify wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-02\" class=\"content-anchor\"><\/a> <strong>Welcome to the Enterprise Climate CEO poll:<\/strong> With all eyes on Sharm El Sheikh as COP27 continues, Enterprise Climate and EnterpriseAM are presenting our inaugural Climate CEO Poll, a series of interviews with top CEOs attending the summit to discuss key issues including climate finance, regulation, and the green economy.<\/p>\n<p><strong>Mohamed Saad<\/strong>\u00a0(<a href=\"https:\/\/www.linkedin.com\/in\/mohamed-mokhtar-saad\/\">LinkedIn<\/a>)<strong> is president and CEO for NEA at <\/strong><strong><a href=\"https:\/\/www.signify.com\/en-gb\">Signify<\/a><\/strong> \u2014 formerly known as Philips Lighting, a global leader in energy-efficient lighting products, systems, and services including <a href=\"https:\/\/www.lighting.philips.com\/main\/prof\/outdoor-luminaires\/solar\/luminaires\/sunstay\">integrated solar street lighting<\/a>, innovative <a href=\"https:\/\/www.lighting.philips.com.eg\/prof\/indoor-luminaires\/solar\/luminaires\/lifelight\">solar lanterns<\/a>, an LED-powered <a href=\"https:\/\/www.signify.com\/en-ca\/innovation\/iot-platform\">internet of things (IoT) platform<\/a>, <a href=\"https:\/\/www.lighting.philips.com\/main\/products\/horticulture\">horticulture lighting<\/a>, and <a href=\"https:\/\/www.signify.com\/global\/innovation\/trulifi\">LiFi<\/a> systems.<\/p>\n<p><strong>When you aside what he does for a living and think about it, Saad\u2019s message hits home: Efficient lighting is among the keys to our energy transition. <\/strong>Switching all conventional light bulbs to LED could reduce electricity consumption by 50%. Using <a href=\"https:\/\/www.signify.com\/global\/our-company\/about-us\">connected lighting<\/a> to power devices through the IoT could save another 30%, Saad says.<\/p>\n<p><strong>Lighting can even boost food security: <\/strong>The horticulture lighting Signify has installed in Egypt has improved agricultural growth efficiency, he notes. \u201cThe point of the energy transition is both to get the world to carbon neutrality and to help us to do more using fewer resources,\u201d Saad says. Careful use of energy \u2014 like efficient lighting \u2014 could help Africa <a href=\"https:\/\/www.csis.org\/analysis\/need-leapfrog-strategy\">\u201cleapfrog\u201d<\/a> its development, he adds.<\/p>\n<p><strong>Saad hopes both the public and private sectors will be receptive: <\/strong>Governments need to push for all lighting to be LED or ultra-efficient, he says. For private sector players, it\u2019s about spurring a mindset shift. \u201cI\u2019d like them to think of reducing their operating costs by using LED, ultra-efficient light or connected lighting \u2014 where they could see a return on investment in just a few months \u2014 rather than the initial CAPEX costs.\u201d<\/p>\n<p><strong>What does Saad want to see from COP? <\/strong>Concrete and faster action on climate-friendly tech deployment. \u201cMy biggest frustration with previous COPs is that we haven\u2019t moved fast enough,\u201d Saad told us. \u201cRegulatory amendments are happening in Europe and in some parts of Africa, but not at the speed I\u2019d like.\u201d<\/p>\n<p><strong>How could this be done?<\/strong><\/p>\n<p><strong>#1- Regulation and quota-setting: <\/strong>\u201cI\u2019d like to forbid all conventional lighting, which generates heat and weighs very heavily on national grids,\u201d Saad says. He advocates for sustainability obligations on all new private sector projects, covering lighting, water consumption, circularity, and recycling. Governments should set the tone by measuring and reducing their own use of these resources \u2014 which some are already working on, he says.<\/p>\n<p><strong>#2- Regional collaboration:<\/strong> Encouraging the uptake of global tech could happen through large multinational companies and by establishing small regional innovation hubs \u2014 which is particularly important for MENA and Africa, says Saad.<\/p>\n<p><strong>#3- Financing: <\/strong>Large companies often don\u2019t prioritize investment in \u201cnon-core\u201d activities like lighting. If public and private equity funds finance efficient lighting or energy solutions through the <a href=\"https:\/\/www.techtarget.com\/searchcloudcomputing\/definition\/XaaS-anything-as-a-service\">\u201cas-a-service\u201d concept<\/a> \u2014 where consumers don\u2019t pay an initial investment, but only for what they consume \u2014 uptake could accelerate hugely, says Saad. \u201cI\u2019m definitely hoping to see progress on this during COP.\u201d<\/p>\n<p><strong>For Signify, Saad hopes COP will open up large-scale partnership prospects with public and private sector organizations for more efficient lighting.<\/strong> Discussions about public lighting should focus on efficiency \u2014 for street lighting, residential and commercial compounds, or sports stadiums, he notes. \u201cWe hear a lot of talk today about saving energy by switching off public street lights, but I don\u2019t think this is the solution,\u201d he says. \u201cWe need to make public lighting smarter and more efficient. This has environmental benefits and a very direct link to safety and security.\u201d<\/p>\n<p><strong>Africa, MENA, Turkey, and Pakistan are key markets for Signify\u2019s future expansion: <\/strong>It\u2019s eyeing more investment, an expanded footprint, and manufacturing localization, especially in Egypt, Morocco, Tunisia, South Africa, and Kenya, Saad says.<\/p>\n<p><strong>Egypt, Turkey and Saudi Arabia are potential export hubs: <\/strong>Signify is eyeing Egypt as an export hub for Africa, says Saad. As a signatory to multiple trade agreements with excellent shipping and transportation links and a qualified labor force, the country has major export advantages, he notes. Turkey could serve as an export hub to Eastern Europe and the Middle East, while Saudi Arabia \u2014 already a huge market \u2014 could be an export hub for the GCC.<\/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-ceo-poll\/\">CLIMATE CEO POLL<\/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\/mohamed-saad\/\">Mohamed Saad<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/signify\/\">Signify<\/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=\"74696\" 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=\"74696\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">CLIMATE FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/08\/apicorp-signs-usd-75-mn-islamic-financing-agreement-for-voluntary-carbon-offsets\/\">\r\n                            Apicorp signs USD 75 mn Islamic financing agreement for voluntary carbon offsets                        <\/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\/08\/apicorp-signs-usd-75-mn-islamic-financing-agreement-for-voluntary-carbon-offsets\/\" 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\/08\/apicorp-signs-usd-75-mn-islamic-financing-agreement-for-voluntary-carbon-offsets\/')\">\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\/08\/apicorp-signs-usd-75-mn-islamic-financing-agreement-for-voluntary-carbon-offsets\/\">\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=Apicorp signs USD 75 mn Islamic financing agreement for voluntary carbon offsets&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/08\/apicorp-signs-usd-75-mn-islamic-financing-agreement-for-voluntary-carbon-offsets\/\">\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\/08\/apicorp-signs-usd-75-mn-islamic-financing-agreement-for-voluntary-carbon-offsets\/&title=Apicorp signs USD 75 mn Islamic financing agreement for voluntary carbon offsets\">\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=Apicorp+signs+USD+75+mn+Islamic+financing+agreement+for+voluntary+carbon+offsets+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F08%2Fapicorp-signs-usd-75-mn-islamic-financing-agreement-for-voluntary-carbon-offsets%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\/08\/apicorp-signs-usd-75-mn-islamic-financing-agreement-for-voluntary-carbon-offsets\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74696\" class=\"content-area-description single-story post-74696 post type-post status-publish format-standard hentry category-climate-finance tag-carbon-markets tag-climate-finance tag-enterpriseclimate tag-green-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>A<\/strong><strong>picorp inks MENA region\u2019s first Islamic financing agreement for voluntary<\/strong><strong> carbon offsets:<\/strong> Saudi Arabian energy-focused multilateral financial institution <a href=\"https:\/\/www.apicorp.org\/\">Arab Petroleum Investment Corporation<\/a> (Apicorp) has signed a USD 75 mn murabaha agreement with global energy and commodities firm <a href=\"https:\/\/www.hartreepartners.com\/\">Hartree Partners<\/a> to fund voluntary carbon offsets, according to a company <a href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/apicorp-and-hartree-sign-usd-75mln-islamic-facility-for-voluntary-carbon-offsets-aankn0px\">press release<\/a>.<\/p>\n<p><strong>What is <\/strong><strong><a href=\"https:\/\/www.investopedia.com\/terms\/m\/murabaha.asp\">murabaha<\/a><\/strong><strong>? <\/strong>It\u2019s an Islamic financing structure where the seller and buyer agree to the cost and markup of an asset, making it sharia-compliant since it does not bear interest.<\/p>\n<p><strong>What will the agreement do?<\/strong> The facility will fund high-quality voluntary carbon offsets to develop environmentally friendly projects registered with the nonprofit platform <a href=\"https:\/\/verra.org\/\">Verra<\/a>, a global registry for nature-based offsets.<\/p>\n<p><strong>A first in MENA:<\/strong> \u201cThe facility\u2019s shariah compliance and syndication features can have major implications because they make it convenient for the regional market to adopt and enable additional banks to join and gain exposure to this asset class,\u201d Apicorp CEO Khalid Ali Al-Ruwaigh said.<\/p>\n<p><strong>Advisers: <\/strong>Norton Rose Fulbright Dubai acted as the lender\u2019s counsel and Reed Smith LPP Dubai provided counsel to Hartree Partners. Shariah advisory services and the issuance of an operating fatwa were provided by Shape Knowledge Services. DD&Co Limited supplied the London Metals Exchange with approved non-ferrous base metals for each Shariah-compliant murabaha transaction.<\/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-markets\/\">carbon markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-finance\/\">climate finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-finance\/\">green finance<\/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=\"74697\" 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=\"74697\">\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\">SOLAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/08\/arabian-cement-company-inks-ppa-for-phase-two-of-solar-plant\/\">\r\n                            Arabian Cement Company inks PPA for phase two of solar plant                        <\/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\/08\/arabian-cement-company-inks-ppa-for-phase-two-of-solar-plant\/\" 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\/08\/arabian-cement-company-inks-ppa-for-phase-two-of-solar-plant\/')\">\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\/08\/arabian-cement-company-inks-ppa-for-phase-two-of-solar-plant\/\">\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=Arabian Cement Company inks PPA for phase two of solar plant&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/08\/arabian-cement-company-inks-ppa-for-phase-two-of-solar-plant\/\">\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\/08\/arabian-cement-company-inks-ppa-for-phase-two-of-solar-plant\/&title=Arabian Cement Company inks PPA for phase two of solar plant\">\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=Arabian+Cement+Company+inks+PPA+for+phase+two+of+solar+plant+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F08%2Farabian-cement-company-inks-ppa-for-phase-two-of-solar-plant%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\/08\/arabian-cement-company-inks-ppa-for-phase-two-of-solar-plant\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/6189.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"74698\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/08\/arabian-cement-company-inks-ppa-for-phase-two-of-solar-plant\/6189-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/6189.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"6189.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/6189.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/6189.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74697\" class=\"content-area-description single-story post-74697 post type-post status-publish format-standard has-post-thumbnail hentry category-solar tag-cement tag-egypt tag-enterpriseclimate 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>Arabian Cement Company signs new PPA for Suez facility solar plant: <\/strong>Egypt\u2019s <a href=\"https:\/\/www.arabiancement.com\/\">Arabian Cement Company<\/a> (ACC) signed a PPA with utility firm <a href=\"https:\/\/www.solarizegypt.com\/\">Amarenco SolarizEgypt<\/a><a href=\"https:\/\/www.solarizegypt.com\/\">(ASE)<\/a> for a 13.2 MW second phase of <a href=\"https:\/\/enterprise.press\/stories\/2019\/01\/20\/arabian-cement-solarizegypt-sign-egp-100-mn-solar-power-plant-agreement\/\">its solar plant in Suez<\/a>, Egypt according to a company <a href=\"https:\/\/ent.news\/2022\/11\/ACC-SolarizEgypt-new-amended-agreement-PRL_En.docx.pdf\">press release (pdf)<\/a>. The new phase will see investments between EGP 170-190 mn, SolarizEgypt Managing Director Yaseen Abdelghaffar tells Enterprise Climate.<\/p>\n<p><strong>The details: <\/strong>The second phase of the project will bring the solar plant\u2019s total capacity to 20.6 MW. The project should be completed and brought online by September 2023.<\/p>\n<p><strong>Emissions savings:<\/strong> The new phase will eliminate some 13k tons of CO2 per year of emissions, in addition to the current savings of around 5.5k tons per year of CO2 emissions out of phase one, the statement says.<\/p>\n<p><strong>ACC wants more green energy:<\/strong> Phase 1 of the project generated some 3% of ACC\u2019s operational energy needs. The addition of the second phase \u2014 which will use bifacial solar cells and solar energy tracker technology \u2014 could generate 10% of ACC\u2019s total energy needs, Abdelghaffar tells us.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/cement\/\">cement<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/egypt\/\">Egypt<\/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=\"74699\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74700\" 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=\"74700\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/08\/oc-brings-sustainable-3d-printing-tech-to-egypt-germany-egypt-to-share-green-hydrogen-production-tech\/\">\r\n                            OC brings sustainable 3D printing tech to Egypt + Germany, Egypt to share green hydrogen production tech                        <\/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\/08\/oc-brings-sustainable-3d-printing-tech-to-egypt-germany-egypt-to-share-green-hydrogen-production-tech\/\" 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\/08\/oc-brings-sustainable-3d-printing-tech-to-egypt-germany-egypt-to-share-green-hydrogen-production-tech\/')\">\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\/08\/oc-brings-sustainable-3d-printing-tech-to-egypt-germany-egypt-to-share-green-hydrogen-production-tech\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=OC brings sustainable 3D printing tech to Egypt + Germany, Egypt to share green hydrogen production tech&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/08\/oc-brings-sustainable-3d-printing-tech-to-egypt-germany-egypt-to-share-green-hydrogen-production-tech\/\">\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\/08\/oc-brings-sustainable-3d-printing-tech-to-egypt-germany-egypt-to-share-green-hydrogen-production-tech\/&title=OC brings sustainable 3D printing tech to Egypt + Germany, Egypt to share green hydrogen production tech\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=OC+brings+sustainable+3D+printing+tech+to+Egypt+%2B+Germany%2C+Egypt+to+share+green+hydrogen+production+tech+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F08%2Foc-brings-sustainable-3d-printing-tech-to-egypt-germany-egypt-to-share-green-hydrogen-production-tech%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\/08\/oc-brings-sustainable-3d-printing-tech-to-egypt-germany-egypt-to-share-green-hydrogen-production-tech\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74700\" class=\"content-area-description single-story post-74700 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-construction tag-desalination tag-dewa tag-electromin tag-enterpriseclimate tag-innovation tag-mohammed-bin-rashid-al-maktoum tag-neom tag-orascom tag-quantron 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-05\"><\/a> <strong><a href=\"https:\/\/orascom.com\">Orascom Construction<\/a><\/strong> <strong>explores 3D printing construction tech: <\/strong>Global engineering and construction contractor Orascom Construction is collaborating with Denmark\u2019s <a href=\"https:\/\/cobod.com\">COBOD<\/a> to begin using 3D printing construction technology in Egypt, according to <a href=\"https:\/\/ent.news\/2022\/11\/6293.pdf\">a statement (pdf)<\/a> released last week. The Egyptian-Dutch cooperation will explore using the technology in printing entire buildings for more environmentally sustainable construction by reducing material consumption, construction waste, and reducing carbon footprint.<\/p>\n<p><strong>Egypt and Germany are looking to share technology for green hydrogen<\/strong> <strong>production<\/strong>, with the two countries signing a letter of intent last week, according to statements from Germany\u2019s <a href=\"https:\/\/www.bmz.de\/de\/aktuelles\/aktuelle-meldungen\/de-egy-partnerschaft-gruener-wasserstoff-fluessig-erdgas-127370\">Federal Ministry for Economic Affairs<\/a> and Climate Change and Egypt\u2019s <a href=\"https:\/\/www.sis.gov.eg\/Story\/172488\/Germany%2C-Egypt-agree-on-enhancing-partnership-in-green-hydrogen%2C-LNG-fields?lang=en-us\">State Information Service<\/a>. The two sides have agreed to cooperate on specific green hydrogen projects in Egypt and promote joint investment and research in the budding industry, as <a href=\"https:\/\/enterprise.press\/stories\/2022\/11\/06\/its-cop-oclock-heres-everything-you-need-to-know-86190\/\">we reported previously<\/a>.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li>The Saudi <strong>Public Investment Fund<\/strong>-backed <strong><a href=\"https:\/\/www.marafiq.com.sa\/\">Marafiq<\/a><\/strong>\u2019s IPO was 6.32x oversubscribed, closing with almost SAR 6.37 bn (USD 1.7 bn) worth of total orders, <a href=\"https:\/\/www.arabnews.com\/node\/2193651\/business-economy\">Arab News<\/a> reports. Marafiq has core businesses including water supply, sewage and waste management and treatment.<\/li>\n<li>Italian chemical manufacturing company <strong><a href=\"https:\/\/nextchem.it\/\">NextChem<\/a><\/strong> \u2014 a subsidiary of <a href=\"https:\/\/www.mairetecnimont.com\/en\">Maire<\/a><a href=\"https:\/\/www.mairetecnimont.com\/en\"><\/a><a href=\"https:\/\/www.mairetecnimont.com\/en\">Tecnimont<\/a> \u2014 is setting up a plant for <strong>reprocessing and upcycling polymers <\/strong>in the <strong>UAE<\/strong>, according to a <a href=\"https:\/\/ent.news\/2022\/11\/4454.pdf\">company statement (pdf)<\/a>.<\/li>\n<li>The <strong><a href=\"http:\/\/www.adssc.ae\/en-us\/Pages\/default.aspx\">Abu Dhabi Sewerage Services Company<\/a><\/strong> will develop a wastewater treatment plant in Tashkent, Uzbekistan in partnership with <strong><a href=\"https:\/\/uzsuv.uz\/en\">Uzsuvtaminot JSC<\/a><\/strong>, according to a company statement picked up by <a href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/adssc-signs-moa-with-uzsuvtaminot-jsc-a0bu73ix\">Zawya<\/a>. The plant will have a daily capacity of 1.5 mn cubic meters.<\/li>\n<li>UAE\u2019s <strong>Etihad Airways<\/strong> inked an agreement with Spanish oil company <strong><a href=\"https:\/\/www.cepsa.com\/en\/the-company\">Cepsa<\/a><\/strong> to accelerate its adoption of <strong>sustainable aviation fuels <\/strong>(SAF), according to a company <a href=\"https:\/\/www.etihad.com\/en-ae\/news\/cepsa-and-etihad-join-forces-to-accelerate-the-decarbonisation-of-air-transport\">statement<\/a>. Using SAF will reduce 80% of CO2-equivalent emissions compared to traditional kerosene, the statement notes.<\/li>\n<\/ul>\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\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/desalination\/\">DESALINATION<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/dewa\/\">DEWA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/electromin\/\">electromin<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/innovation\/\">innovation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/mohammed-bin-rashid-al-maktoum\/\">Mohammed bin Rashid Al Maktoum<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/neom\/\">Neom<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/orascom\/\">Orascom<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/quantron\/\">quantron<\/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=\"74701\" 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=\"74701\">\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\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/08\/abdul-latif-jameel-energys-frv-acquires-majority-stake-in-greek-battery-energy-storage-company-wootis-sa\/\">\r\n                            Abdul Latif Jameel Energy\u2019s FRV acquires majority stake in Greek battery energy storage company Wootis SA                        <\/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\/08\/abdul-latif-jameel-energys-frv-acquires-majority-stake-in-greek-battery-energy-storage-company-wootis-sa\/\" 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\/08\/abdul-latif-jameel-energys-frv-acquires-majority-stake-in-greek-battery-energy-storage-company-wootis-sa\/')\">\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\/08\/abdul-latif-jameel-energys-frv-acquires-majority-stake-in-greek-battery-energy-storage-company-wootis-sa\/\">\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=Abdul Latif Jameel Energy\u2019s FRV acquires majority stake in Greek battery energy storage company Wootis SA&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/08\/abdul-latif-jameel-energys-frv-acquires-majority-stake-in-greek-battery-energy-storage-company-wootis-sa\/\">\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\/08\/abdul-latif-jameel-energys-frv-acquires-majority-stake-in-greek-battery-energy-storage-company-wootis-sa\/&title=Abdul Latif Jameel Energy\u2019s FRV acquires majority stake in Greek battery energy storage company Wootis SA\">\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=Abdul+Latif+Jameel+Energy%E2%80%99s+FRV+acquires+majority+stake+in+Greek+battery+energy+storage+company+Wootis+SA+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F08%2Fabdul-latif-jameel-energys-frv-acquires-majority-stake-in-greek-battery-energy-storage-company-wootis-sa%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\/08\/abdul-latif-jameel-energys-frv-acquires-majority-stake-in-greek-battery-energy-storage-company-wootis-sa\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74701\" class=\"content-area-description single-story post-74701 post type-post status-publish format-standard hentry category-around-the-world tag-around-the-world tag-bess tag-enterpriseclimate tag-greece tag-renewables 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>FRV buys majority stake in Greek BESS facility:<\/strong> Spain-headquartered <a href=\"https:\/\/frv.com\/en\/\">Fotowatio Renewable Ventures (FRV)<\/a> acquired a majority stake in Greek renewables company <a href=\"https:\/\/wootis.gr\/\">Wootis SA<\/a>\u2019s 600 MW battery energy storage system (BESS) project, according to a <a href=\"https:\/\/alj.com\/en\/news\/abdul-latif-jameel-energys-frv-acquires-majority-stake-in-one-of-the-largest-battery-energy-storage-systems-in-greece\/\">company statement<\/a>. The BESS facility is set to become operational between 4Q 2023 and 2Q 2024, the statement notes. The details of FRV\u2019s investment were not disclosed.<\/p>\n<p><strong>FRV is on a renewables buying streak: <\/strong>FRV \u2014 a subsidiary of Saudi solar PV developer <a href=\"https:\/\/alj.com\/en\/energy-and-environmental-services\/energy-overview\/\">Abdul Latif Jameel Energy and Environmental Services<\/a>\u2014 acquired two battery energy storage (BESS) projects in the UK with a combined capacity of up to 100 MW <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/1f816da0-8c47-4276-8dfc-2fd2255e12fa\">last month<\/a>. FRV also has five battery energy storage projects in various stages of construction and development with a combined capacity of 340 MW, a company <a href=\"https:\/\/frv.com\/en\/frv-to-acquire-2-new-battery-energy-storage-projects-in-the-uk\/\">statement<\/a> notes.<\/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\/around-the-world\/\">AROUND THE WORLD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/bess\/\">BESS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/greece\/\">Greece<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74702\" 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=\"74702\">\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\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/08\/amphibious-electric-aircraft-powered-by-solar-in-the-works\/\">\r\n                            Amphibious electric aircraft powered by solar in the works                        <\/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\/08\/amphibious-electric-aircraft-powered-by-solar-in-the-works\/\" 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 fully electric sea-faring aircraft is able to land on water and dry land, traveling within cities and decongesting roads by taking rivers, seas, and lakes as viable travel routes. The prototype of its EUR 280 mn hydro aircraft will be rolled out in 2026.<\/p>\n<p><strong>Specs:<\/strong> The fully electric aircraft \u2014 made from fiberglass, kevlar, and carbon materials \u2014 comes equipped with a solar power plant and a flight range of two hours and a cruising speed up to 130 knots. The aircraft will have a maximum flying altitude of 13k meters and can withstand wave heights up to 1.2 meters when sailing. Jekta aims to have it available for purchase in 2028 (<a href=\"https:\/\/youtu.be\/F9lgIxbmtew?t=160\">watch, runtime: 02:35<\/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\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/net-zero\/\">net-zero<\/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\/sustainability\/\">sustainability<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74704\" 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\/08\/74704\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74704\" class=\"content-area-description single-story post-74704 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><strong>:<\/strong><\/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":74689,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-74688","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"d1489a0a-f553-4719-a04a-b6b2009a875b","teaser":"","photo_url":"https:\/\/ent.news\/2022\/11\/3467.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>Somber warnings as world leaders\u2019 summit kicks off at COP27 - 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\/somber-warnings-as-world-leaders-summit-kicks-off-at-cop27\/\" \/>\n<meta property=\"og:locale\" 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