{"id":74743,"date":"2022-11-10T02:18:23","date_gmt":"2022-11-10T02:18:23","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=74743"},"modified":"2025-12-15T08:07:59","modified_gmt":"2025-12-15T08:07:59","slug":"it-was-a-big-day-for-carbon-credits-at-cop27","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/it-was-a-big-day-for-carbon-credits-at-cop27\/","title":{"rendered":"It was a big day for carbon credits at COP27"},"content":{"rendered":"<section id=\"74745\" 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=\"74745\">\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\/10\/today-carbon-markets-take-the-lead-at-cop27-its-science-day\/\">\r\n                            TODAY: Carbon markets take the lead at COP27 + It\u2019s Science Day                        <\/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\/10\/today-carbon-markets-take-the-lead-at-cop27-its-science-day\/\" 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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Egypt\u2019s stock exchange, the EGX, launched Africa\u2019s first regional voluntary carbon market, which will allow companies across the continent to sell certified carbon credits from their emission-reducing projects. US climate envoy John Kerry announced a new carbon offset plan to encourage companies to invest in renewables projects in developing countries and claim carbon credits in return \u2014 although the plan is getting heat from some environmental advocacy groups.<\/p>\n<p><strong>^^ We have the full rundown<\/strong> of what went down on Day 4 \u2014 and what to look out for over the next few days \u2014 in the news well, below.<\/p>\n<p><strong>HAPPENING TODAY-<\/strong> It\u2019s <strong><a href=\"https:\/\/cop27.eg\/#\/presidency\/eventsThematicDetails\/science-day\">Science Day<\/a><\/strong>, where sessions will be focusing on advances in climate science and the impacts of climate change on ecosystems, biodiversity, and global communities in a bid to ensure actionable steps are based on credible science. <strong><a href=\"https:\/\/cop27.eg\/#\/presidency\/eventsThematicDetails\/youth-future-day\">Youth & Future Generations Day<\/a><\/strong> will be happening at the same time, bringing high-level policymakers together with representatives of the <a href=\"https:\/\/unfccc.int\/topics\/education-and-youth\/youngo\/coy\">Conference of Youth<\/a> to present the Global Youth Statement underpinning key policy requests to drive forward climate action and resilience.<\/p>\n<p><strong>REMEMBER- <\/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 to come out of COP27.<\/strong><\/p>\n<p><strong>ALSO- <\/strong>The continued detention of Egyptian activist <strong><a href=\"https:\/\/www.reuters.com\/business\/cop\/alaa-abd-el-fattah-jailed-egyptian-british-dissident-hunger-strike-2022-11-07\/\">Alaa Abdel Fattah<\/a><\/strong> is being widely discussed by COP delegates \u2014 and making global headlines \u2014 as his family ramps up a campaign for his release. Abdel Fattah, who recently became a UK citizen, began a hunger strike on 2 April and was said on Sunday to have stopped drinking water. The leaders of France, Germany and the UK have called on authorities to release Abdel Fattah this week and <a href=\"https:\/\/www.politico.com\/news\/2022\/11\/08\/biden-to-press-human-rights-in-meeting-with-egyptian-president-00065715\">Politico<\/a> reports that US President Joe Biden will raise the issue when he arrives in Egypt tomorrow. <strong>Among those picking up the story: <\/strong><a href=\"https:\/\/www.ft.com\/content\/773679fd-6674-4a3b-9348-771b10919382\">Financial Times<\/a> | <a href=\"https:\/\/www.france24.com\/en\/live-news\/20221109-egypt-dissident-abdel-fattah-s-family-demands-proof-of-life\">AFP<\/a> | <a href=\"https:\/\/www.bbc.com\/news\/world-middle-east-63567581\">BBC<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/world\/2022\/11\/09\/cop27-climate-alaa-prison-strike-sissi\/\">Washington Post<\/a> | <a href=\"https:\/\/foreignpolicy.com\/2022\/11\/09\/egypt-human-rights-cop27-activist-hunger-strike\/\">Foreign Policy<\/a> | <a href=\"https:\/\/www.dw.com\/en\/egypt-alaa-abdel-fattah-close-to-dying-says-sister\/a-63681507\">Deutsche Welle<\/a> | <a href=\"https:\/\/thehill.com\/policy\/energy-environment\/3725442-thunberg-calls-on-egypt-to-release-political-prisoners-amid-climate-summit\/\">The Hill<\/a> | <a href=\"https:\/\/www.economist.com\/the-economist-explains\/2022\/11\/09\/who-is-alaa-abd-el-fattah\">The Economist<\/a> | <a href=\"https:\/\/www.vice.com\/en\/article\/jgpnqp\/egypt-cop27-greenwash\">Vice<\/a> | <a href=\"https:\/\/www.theguardian.com\/world\/2022\/nov\/09\/britain-does-not-know-if-alaa-abd-el-fattah-still-alive-minister-admits\">The Guardian<\/a>.<\/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>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<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>The Enterprise Climate X Forum will give insiders and newcomers alike the chance to talk about how to build a climate-centered business \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>Stay tuned very soon when we reveal the venue. <\/strong>You\u2019ll love it, we promise.<\/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 are going out. <\/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>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><strong>WORTH READING- Fiscal policy is needed to help drive decarbonization in the Middle <\/strong><strong>East<\/strong>, according to a new <a href=\"https:\/\/ent.news\/2022\/11\/6250.pdf\">IMF report (pdf)<\/a>. An investment of USD 770 bn in renewables by countries in the Middle East, North Africa, Afghanistan and Pakistan (MENAP) would achieve the region\u2019s 2030 emission reduction targets if fuel subsidies are reduced by two-thirds and without any carbon tax, the report says.<\/p>\n<p><strong>Fiscal policies should be paired with non-fiscal mitigation policies<\/strong> including raising emissions standards,curbing greenhouse gas emissions, and incentivizing green private investment, the report says.<\/p>\n<p><strong>What else can be done?<\/strong> The report proposes two main strategies that, together, provide a carrot-and-stick approach: Increasing public investment in renewables, along with gradually removing all fuel subsidies and raising the price of energy through a phased carbon tax.<\/p>\n<p><strong>The downsides:<\/strong> Ramping up public investments in renewables would increase debt by 2030, slowing longer-term growth for the region. Removing fuel subsidies and carbon taxation would curb medium-term growth and potentially cause GDP per capita to decline in MENAP and CCA to decline by 5% by 2030.<\/p>\n<hr class=\"grey-line\">\n<p><strong>WATCH THIS SPACE- German developer <\/strong><strong><a href=\"https:\/\/lilium.com\">Lilium<\/a><\/strong><strong> sees the GCC as ripe with<\/strong><strong> potential for its flying taxis<\/strong>, the <a href=\"https:\/\/www.thenationalnews.com\/business\/aviation\/2022\/11\/09\/lilium-eyes-tremendous-opportunities-for-flying-taxis-in-middle-east-after-saudia-deal\/\">National<\/a> reports. The development of mega cities in the region makes it an efficient mobility demand hotspot to reduce congestion and reduce carbon emissions. The new markets Lilium is eyeing are Kuwait, the UAE, Bahrain and Oman. KSA\u2019s national airline, Saudia, KSA\u2019s national airline purchased 100 electric Vertical Take-Off and Landing (eVTOL) vehicles from Lilium <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/83e28974-c493-421c-b05a-4b347d8d69fb\">last month<\/a>.<\/p>\n<p>***<br \/>\n <strong>YOU\u2019RE READING ENTERPRISE CLIMATE, the essential regional publication for senior execs who care about the world\u2019s most important industry. <\/strong>Enterprise Climate covers everything from finance and tech to regulation, products and policy across the Middle East and North Africa. In a nod to the growing geographical ambitions of companies in our corner of the world, we also include an overview of the big trends and data points in nearby countries, including Africa and southern Europe.<\/p>\n<p><strong>Enterprise Climate is published at 4am CLT \/ 5am Riyadh \/ 6am UAE Monday through Thursday by Enterprise<\/strong>, the folks who bring you Enterprise Egypt, your essential 6am and 3pm read on business, finance, policy and economy in Egypt and emerging markets.<\/p>\n<p><strong><a href=\"https:\/\/climate.enterprise.press\/subscribe\/\">Subscribe to Enterprise Climate here<\/a><\/strong> or reach out to us on <a href=\"mailto:climate@enterprisemea.com\">climate@enterprisemea.com<\/a> with comments, suggestions and story tips.<\/p>\n<p>***<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>THE DANGER ZONE- Little can be done to prevent the thawing of ice sheets, and the world\u2019s coastal cities will feel sharp effects within a decade. <\/strong>That\u2019s according to new <a href=\"https:\/\/drive.google.com\/file\/d\/1qjXyTPJPvYEcpEIvQKpw3CCU9-0UMOM0\/view\">research<\/a> by the <a href=\"https:\/\/iccinet.org\/\">International Cryosphere Climate Initiative<\/a>. The vanishing of sea ice will result in the Arctic Ocean absorbing more heat than it reflects, ultimately raising global temperatures and eating away at coastal cities. The melting of glaciers will inevitably raise global sea levels by more than 25 cm by the end of this century, twice what scientists had <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/58613255-13d9-4e90-9869-38ceb12e5d9e\">previously forecast<\/a>.<\/p>\n<p><strong>What to expect in MENA:<\/strong> Coastal cities including <a href=\"https:\/\/heritagesciencejournal.springeropen.com\/articles\/10.1186\/s40494-021-00547-8\">Alexandria<\/a> in Egypt and <a href=\"https:\/\/www.scirp.org\/journal\/paperinformation.aspx?paperid=105898\">Basra<\/a> in Iraq, both of which are primed to bear the brunt of climate-induced sea level shifts in our part of the world.<\/p>\n<hr class=\"grey-line\">\n<p><strong>CLIMATE DIPLOMACY- <\/strong><\/p>\n<p><strong>The US, Oman will cooperate on renewable energy and manufacturing, <\/strong>according to a <a href=\"https:\/\/www.state.gov\/joint-statement-on-the-u-s-oman-strategic-dialogue\/\">joint statement<\/a> released by the US Department of State this week, launching the first U.S.-Oman Strategic Dialogue focused on education and cultural exchange, trade and investment, and renewable energy. Through a forthcoming MoU between the Sultanate and the US\u2019s <a href=\"https:\/\/www.exim.gov\/\">Export-Import Bank<\/a>, the two parties reiterated their joint commitment to climate action. Oman\u2019s efforts in desalination, emissions reduction and green hydrogen development were noted, including Oman\u2019s regional role in desalination research through its <a href=\"https:\/\/www.medrc.org\/\">Middle East Desalination Research Centre<\/a> (MEDRC), its recent <a href=\"https:\/\/omannews.gov.om\/topics\/en\/80\/show\/110493\">commitment<\/a> to carbon neutrality by 2050, and its USD 150 bn <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/e806e16c-672f-4775-8776-6f597297731a\">green hydrogen strategy<\/a>.<\/p>\n<p><strong>CIRCLE YOUR CALENDAR- <\/strong><\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/www.hawkamah.org\/event\/5233\">Hawkamah annual conference<\/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>UAE will host<\/strong> <strong><a href=\"https:\/\/www.thebig5.ae\/global-construction-impact-summit\/\">The Big 5 Global Construction Impact Summit<\/a><\/strong> on Wednesday, 7 December at the Dubai World Trade Centre, bringing more than 2k exhibitors from 60 countries, as well as regional and global construction industry leaders together to discuss ways to meet local and global net zero and waste reduction targets.<\/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\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\/air-mobility\/\">Air mobility<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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src=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/232.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"74748\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/10\/carbon-credits-in-the-spotlight-on-day-four\/232-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/232.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"232.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/232.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/232.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74747\" class=\"content-area-description single-story post-74747 post type-post status-publish format-standard has-post-thumbnail hentry category-climate-finance tag-blue-mediterranean-partnership tag-climate-finance tag-climate-resilience tag-cop27 tag-ebrd tag-eib tag-emerging-markets tag-enterpriseclimate tag-green-finance tag-loss-and-damage tag-world-bank 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>Carbon credits were the big theme of day four in Sharm El Sheikh<\/strong>, with:<\/p>\n<ul>\n<li>Egypt kicking off Africa\u2019s first voluntary carbon market<\/li>\n<li>US climate envoy John Kerry unveiling a new carbon offset plan<\/li>\n<li>S&P Global saying it will offer carbon intensity estimates for transport fuels as of next week.<\/li>\n<\/ul>\n<p><strong>A handful of (smaller) climate finance pledges<\/strong> also made news at COP27. Here\u2019s the rundown:<\/p>\n<p><strong>#1- <\/strong><strong>EGX unveils Africa-wide regional voluntary carbon market:<\/strong> Egypt\u2019s stock exchange, the EGX, yesterday <a href=\"https:\/\/ent.news\/2022\/11\/EGX-Voluntary-Carbon-Market-statement-9.11.22.pdf\">said (pdf)<\/a> it would set up a regional voluntary carbon market (VCM) \u2014 the first in Africa. The VCM, which the EGX set up in cooperation with the private sector, will allow companies across the continent to sell certified carbon credits from emission-reducing projects. The credits can be bought by other companies wanting to offset their emissions. EnterpriseAM noted back <a href=\"https:\/\/enterprise.press\/stories\/2022\/05\/10\/what-can-we-expect-from-the-planned-local-carbon-credit-exchange-70593\/\">in May<\/a> that a local carbon trading scheme was in the works.<\/p>\n<p><strong>SOUND SMART- there are two primary types of carbon market:<\/strong> Compliance (which are created as part of a policy or regulatory requirement) and voluntary (where carbon credits are issued, bought, and sold on a voluntary basis).<\/p>\n<p><strong>The structure and regs are still pending:<\/strong> The EGX and Financial Regulatory Authority are still working on the framework, business model, and structure of the VCM. Among the key issues will be governance of certificate creation and registration. Look for announcement later from Egypt\u2019s prime minister, the statement says, without specifying a timeline.<\/p>\n<p><strong>What we still don\u2019t know: <\/strong>The statement didn\u2019t tell us whether participation in the VCM would be limited to specific industries and \u2014 if so \u2014 how eligibility would be determined. Also TBD is guidance on the pricing, size or time for first issuances and how the EGX sees marketing to buyers (local, regional or global) unfolding. The EGX was unable to reply to requests for comment by dispatch time.<\/p>\n<p><strong>We do know that newly-established Libra Carbon will supply the carbon offsets to the<\/strong><strong> VCM: <\/strong>A subsidiary of the EGX recently signed an agreement with the Agricultural Bank of Egypt and Enara Group\u2019s Libra Capital to establish the Egyptian company Libra Carbon, <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f2d24668-bf4a-49e8-8e5a-5ec23423b2aa\">we reported<\/a> earlier this week. Libra Carbon \u201cwill supply high-quality carbon offsets to the VCM,\u201d head of project development Omar El Nemr tells Enterprise Climate.<\/p>\n<p><strong>\u2026And help to increase the volume of carbon offsets that are eligible for trading: <\/strong>As of now, the supply of carbon offsets being issued in the Egyptian market is relatively low, says El Nemr. \u201cAs Libra Carbon, we\u2019ll work towards providing sufficient volume in the new VCM to kickstart trading operations.\u201d Among Libra Carbon\u2019s roles is to work with emissions-reduction projects to assess to what degree they are eligible to be issued carbon offsets by international accreditation bodies \u2014 like <a href=\"https:\/\/www.goldstandard.org\/\">Gold Standard<\/a>, Verra or the Global Carbon Council. The company does project assessments and is a link to auditing and accrediting bodies, helping to create a pipeline of carbon offsets that companies will then be able to trade on the national carbon exchange, El Nemr says.<\/p>\n<p><strong>Voluntary carbon markets are gathering steam across the region:<\/strong> Saudi Arabia\u2019s sovereign wealth fund, the Public Investment Fund (PIF) <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/96ce0e75-0c9d-4f03-9e80-cc238211358c\">last month<\/a> set up a regional voluntary carbon market company, <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f3bb1924-9dc1-4866-b00f-d3f50b07744c\">which auctioned<\/a> 1.4 mn tons of carbon credits at Davos in the Desert. Singapore is <a href=\"https:\/\/www.moroccoworldnews.com\/2022\/10\/352027\/singapore-in-talks-with-morocco-to-buy-carbon-credits-meet-climate-goals\">also said<\/a> to be eyeing the purchase of carbon credits from Morocco, we noted.<\/p>\n<p><strong>And Egypt\u2019s broad emissions reduction market \u2014 which includes carbon trading \u2014 is<\/strong><strong> expected to \u201cgrow considerably,\u201d <\/strong>says El Nemr.<\/p>\n<p>#<strong>2- Kerry announces new carbon offset plan to increase investment in emerging markets<\/strong><strong> renewables projects: <\/strong>US climate envoy John Kerry yesterday announced a new carbon offset plan \u2014 known as the Energy Transition Accelerator (ETA) \u2014 to allow companies to claim carbon credits by investing in renewables projects in global growth markets, according to <a href=\"https:\/\/eg.usembassy.gov\/u-s-government-and-foundations-announce-new-public-private-effort-to-unlock-finance-to-accelerate-the-energy-transition\/\">a statement<\/a>. The framework of the plan will be further developed in the coming year, with government, company stakeholder and standard-setting organization involvement, Kerry said. <a href=\"https:\/\/www.reuters.com\/business\/environment\/cop27-us-climate-envoy-kerry-announces-new-carbon-market-initiative-2022-11-09\/\">Reuters<\/a> is among the news outlets picking up the story.<\/p>\n<p><strong>Kerry says the plan will help unlock fresh capital<\/strong><strong> for clean energy: <\/strong>\u201cBy ensuring a predictable finance stream for energy transition, this approach will increase the bankability of clean energy projects, and it will unlock more concessionary, up-front capital,\u201d Kerry said. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-09\/kerry-s-climate-credit-plan-risks-payouts-for-carbon-cutting-mirage?srnd=premium&leadSource=uverify%20wall&sref=mmeFTDW1\">Bloomberg<\/a> and <a href=\"https:\/\/www.reuters.com\/business\/cop\/us-climate-envoy-kerry-launches-carbon-offset-plan-2022-11-09\/\">Reuters<\/a> have more, including the now-standard criticism that voluntary carbon markets don\u2019t guarantee a reduction in emissions.<\/p>\n<p><strong>So what do we know about the plan so far?<\/strong> Eligible projects would involve those aimed at building resilience against the impact of climate change (like infrastructure to limit coastal erosion) or decarbonizing economies, Bloomberg notes. Credits would be tied to government decarbonization plans \u2014 meaning countries still investing in coal can\u2019t apply \u2014 and companies working in oil, gas and coal won\u2019t be able to participate either. \u201cCredits could only be used to supplement \u2014 not substitute for \u2014 deep reductions of companies' own emissions,\u201d Bloomberg tells us.<\/p>\n<p><strong>What\u2019s the critique? <\/strong>Kerry promised safeguards to help avoid the mistakes of the UN\u2019s widely-criticized <a href=\"https:\/\/cdm.unfccc.int\/Projects\/projsearch.html\">clean development mechanism<\/a> \u2014 where some countries\u2019 baseline emissions models were inaccurately calculated. Voluntary carbon markets also came in for a bashing from global securities regulators yesterday for their \u201cpotential vulnerabilities,\u201d and a warning that they should be more closely monitored by regulators, the International Organization of Securities Commissions (<a href=\"https:\/\/www.iosco.org\/about\/?subsection=about_iosco#:~:text=The%20International%20Organization%20of%20Securities,setter%20for%20the%20securities%20sector.\">IOSCO<\/a>) noted in <a href=\"https:\/\/www.iosco.org\/news\/pdf\/IOSCONEWS669.pdf\">a statement<\/a><a href=\"https:\/\/www.iosco.org\/news\/pdf\/IOSCONEWS669.pdf\">(pdf)<\/a> yesterday, <a href=\"https:\/\/www.reuters.com\/business\/cop\/cop27-regulators-plan-closer-scrutiny-carbon-markets-2022-11-09\/\">Reuters<\/a>reports.<\/p>\n<p><strong>Who\u2019s on board? <\/strong>The Bezos Earth Fund and Rockefeller Foundation will develop the program with the US government, \u201cwith input from the public and private sectors which would operate through 2030 and possibly be extended to 2035,\u201d Reuters notes. Chile and Nigeria are among the countries to have expressed interest in the ETA, while Microsoft, PepsiCo, Standard Chartered and Bank of America are eyeing involvement, the newswire adds.<\/p>\n<p><strong>#3- <\/strong><strong>WATCH THIS SPACE- S&P Global Commodity Insights will launch the first carbon<\/strong><strong> intensity estimates and daily offset premiums for transport fuels next week<\/strong>, the company said in a <a href=\"https:\/\/www.prnewswire.com\/news-releases\/sp-global-commodity-insights-launches-first-global-diesel-gasoline--jet-fuel-carbon-intensity-assessments-and-price-premiums-301672750.html\">statement<\/a>. S&P will launch carbon intensity estimates for diesel, gasoline and jet fuel in Northwest Europe, the US Gulf Coast and Singapore, with daily carbon offset price premiums.<\/p>\n<p><strong>What is carbon intensity? <\/strong>Carbon intensity is a metric in low carbon commodity pricing. It <a href=\"https:\/\/carbonintensity.org.uk\/\">refers<\/a> to the number of grams of CO2 needed to make one unit of electricity per KW per hour. Higher carbon intensity means higher greenhouse gas (GHG) emissions.<\/p>\n<p><strong>Why price carbon intensity?<\/strong> Carbon intensity estimates for refined products are meant to provide a more accurate estimate of how much carbon these fuels emit, and by extension, reflect the cost of offsetting them. It is expected that price premiums will soon factor in the carbon intensity attribute, according to the company.<\/p>\n<p><strong>CLIMATE FINANCE-<\/strong><\/p>\n<p><strong>What\u2019s finance got to do with climate action? Everything.<\/strong> The role of financial institutions in driving emissions reduction and helping the world limit global temperature increases to 1.5\u00b0C from pre-industrial levels was the driving theme of yesterday\u2019s Finance Day. Former Bank of England Governor <strong>Mark Carney<\/strong> and Egypt climate czar <strong>Mahmoud Mohieldin<\/strong> were among the bold-face names calling for government and private sector collaboration to unlock the funding that underpins climate action.<\/p>\n<p><strong>The role of governments is key, said Carney: <\/strong>Governments must create frameworks that will boost commitment to emissions reduction by financial markets and \u201calign financial regulation with net-zero\u201d by making transition plans mandatory, Carney said in a panel session yesterday.<\/p>\n<p><strong>While commitment is needed \u201cacross the entire financial system,\u201d Mohieldin argues:<\/strong> \u201cEvery company, bank, [ins. provider] and investor will have to adjust their business models, develop credible plans for the transition and implement them,\u201d the UN Climate Champion wrote in a <a href=\"https:\/\/www.linkedin.com\/pulse\/spending-our-way-out-climate-catastrophe-unclimatechange\/\">LinkedIn op-ed<\/a> published yesterday.<\/p>\n<p><strong>There\u2019s been progress:<\/strong> Mohieldin hailed \u201cgrowing ambition and action\u201d from non-state actors, noting that \u201cthe world\u2019s largest asset owners and managers\u201d \u2014 who collectively control over USD 37 tn \u2014 have joined the UN\u2019s <a href=\"https:\/\/unfccc.int\/climate-action\/race-to-zero-campaign#Minimum-criteria-required-for-participation-in-the-Race-to-Zero-campaign\">Race to Zero<\/a> campaign, which tracks and verifies pledges and transition plans from the corporate and financial sectors, among other activities. At the start of 2021, \u201cnot a single bank had set a science-based 2030 target,\u201d Mohieldin notes. Now, over 500 members of the Glasgow Financial Alliance for Net Zero (<a href=\"https:\/\/www.gfanzero.com\/about\/\">GFANZ<\/a>) \u2014 which Carney launched in April 2021 and now co-chairs \u2014 \u201care committed to transitioning the global economy to net-zero greenhouse gas emissions,\u201d Mohieldin adds.<\/p>\n<p><strong>But funds must go where they\u2019re needed most: <\/strong>\u201cAdditional finance needs to flow into those countries least responsible for but suffering the most from climate change,\u201d Mohieldin argues, echoing previous conversations he\u2019s had with Enterprise Climate (<a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/95e5d7e3-db69-4e6e-a81c-d28c4eef1ec6\">here<\/a> and <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/0698eac3-ac68-4421-914b-d5579693e634\">here<\/a>). Developed economies have provided USD 80 bn of the USD 100 bn they pledged in annual climate finance to developing nations \u2014 and Africa saw less than USD 20 bn of this between 2016 and 2019, he noted. In the run-up to COP27, five <a href=\"https:\/\/enterprise.press\/greeneconomys\/climate-finance-roadshow-begins-ahead-cop27\/\">UN regional finance forums<\/a> identified a shortlist of fifty projects, ready for investment and <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/db607b02-9fe9-4aa1-8cba-baa10e98c0ad\">being showcased<\/a> at the summit, he said.<\/p>\n<p><strong>And for financial institutions, abandoning fossil fuels isn\u2019t as easy as all that: <\/strong>Amid the current energy crisis and uneven economic headwinds, banks and investors are struggling to leave fossil fuels behind, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-09\/cop27-latest-alliancebernstein-joins-net-zero-finance-coalition?srnd=premium-middle-east&leadSource=uverify%20wall\">Bloomberg<\/a> notes. \u201cThere\u2019s also a legal risk involved in making climate promises that firms don\u2019t live up to,\u201d it adds.<\/p>\n<p><strong>While GFANZ itself may be caught in the middle of conflicting priorities: <\/strong>Although Race to Zero was initially supposed to vet GFANZ members and help direct the decarbonization of their portfolios \u2014 to help avert corporate greenwashing \u2014 the UN-backed organization was \u201crelegated\u2026to the status of one adviser among many at the end of last month,\u201d the <a href=\"https:\/\/www.ft.com\/content\/8d0c1064-881e-42b4-9075-18e646f3e1ad\">Financial Times<\/a> notes. This \u201creflects the difficulties Carney\u2019s team has had keeping this self-governing club of financiers together,\u201d amid banks unwilling to divest from fossil fuels and critics arguing the financial sector\u2019s first priority should be its shareholders, the salmon-colored paper adds.<\/p>\n<p><strong>ALSO FROM THE CLIMATE FINANCE FRONT-<\/strong><\/p>\n<p><strong>Half of the World Bank\u2019s USD 32 bn climate financing will be allocated to climate<\/strong><strong> adaptation<\/strong>, president David Malpass said yesterday according to <a href=\"https:\/\/www.reuters.com\/business\/sustainable-business\/cop27-world-banks-malpass-half-world-banks-climate-finance-is-adaptation-2022-11-09\/\">Reuters<\/a>.<\/p>\n<p><strong>At least USD 24 bn in climate finance is coming from the Arab Coordination<\/strong><strong> Group: <\/strong>The <a href=\"https:\/\/www.arabfund.org\/default.aspx?pageId=610\">Arab Coordination Group<\/a> \u2014 a \u201c<a href=\"https:\/\/opecfund.org\/news\/arab-coordination-group-acg-institutions-launch-food-security-action\">strategic alliance<\/a> that provides a coordinated response to development finance\u201d and consists of regional development funds and the OPEC Fund for International Development \u2014 pledged to provide at least USD 24 bn in climate finance by 2030, in <a href=\"https:\/\/opecfund.org\/media-center\/press-releases\/arab-coordination-group-commits-to-us-24-billion-of-climate-action-financing-by-2030\">a statement<\/a> issued yesterday, <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/arab-coordination-group-pledges-least-24-bln-tackle-climate-crisis-2022-11-09\/\">Reuters reports<\/a>.<\/p>\n<p><strong>EBRD, EIB, UfM kick off Blue Mediterranean Partnership to help bridge EUR 6 bn<\/strong><strong> investment gap:<\/strong> The <a href=\"https:\/\/www.ebrd.com\/home\">European Bank for Reconstruction and Development<\/a> (EBRD), the <a href=\"https:\/\/ufmsecretariat.org\">Union for the Mediterranean<\/a> (UfM) and the <a href=\"https:\/\/www.eib.org\/en\/index.htm\">European Investment Bank<\/a> (EIB) launched a new partnership for a sustainable \u2018blue economy\u2019 in the Mediterranean basin, the EBRD <a href=\"https:\/\/www.ebrd.com\/news\/2022\/ebrd-eib-and-ufm-with-eu-support-launch-blue-mediterranean-partnership-.html\">announced<\/a> on Tuesday at COP27. The new partnership will be supported by a financial mechanism to expedite clean investments in the region through capex spending and technical assistance grants.<\/p>\n<p><strong>The Netherlands will contribute EUR 1.8 bn by 2025 to emerging countries and<\/strong><strong> over EUR 100 mn to the Africa Adaptation Acceleration Program<\/strong> developed jointly by the African Development Bank and the Global Center on Adaptation, according to a <a href=\"https:\/\/www.afdb.org\/en\/topics-and-sectors\/initiatives-partnerships\/africa-adaptation-acceleration-program\">statement<\/a>. The pledge to emerging economies is a 50% increase from 2021 contributions.<\/p>\n<p><strong>UK Export Finance will provide sovereign loans with Climate Resilient Debt<\/strong><strong> Clauses for climate-vulnerable nations<\/strong>, according to a <a href=\"https:\/\/www.gov.uk\/government\/news\/uk-export-finance-launches-new-debt-solution-to-help-developing-countries-with-climate-shocks\">statement<\/a>. The clauses the export credit agency will introduce into its loan agreements will allow low-income countries and small island developing states the chance to defer debt repayments in the event of severe climate shocks or natural disasters.<\/p>\n<p><strong>South Africa landed concessional policy loans worth USD 300 mn from France and<\/strong><strong> Germany for Just Energy Transition (JET) Plan<\/strong>, according to the <a href=\"https:\/\/ec.europa.eu\/commission\/presscorner\/detail\/en\/STATEMENT_22_6664\">European Commission<\/a>. France and Germany\u2019s loans are \u201ca first step towards the fulfillment of our USD 1 bn commitment\u201d each, French President Emmanuel Macron said. Last year, a handful of <a href=\"https:\/\/climate.enterprise.press\">wealthy countries pledged USD 8.5 bn<\/a> in the form of grants, loans, investments, and \u201crisk-sharing instruments\u201d to help South Africa decarbonize its economy.<\/p>\n<p><strong>PLUS- <\/strong><\/p>\n<ul>\n<li><strong>China is willing to participate in loss and damage compensation<\/strong> to climate vulnerable countries, <a href=\"https:\/\/www.reuters.com\/business\/environment\/china-willing-contribute-climate-compensation-mechanism-chinese-climate-envoy-2022-11-09\/\">Reuters<\/a> reports.<\/li>\n<li><strong><a href=\"https:\/\/www.cdri.world\/\">The Coalition for Disaster Resilient Infrastructure<\/a><\/strong><strong> launched a USD 50 mn<\/strong> multi-partner Infrastructure Resilience Accelerator Fund to provide technical assistance and capacity building for emerging economies, according to <a href=\"https:\/\/www.cdri.world\/press-releases\/cdri-announces-infrastructure-resilience-accelerator-fund-iraf-a-us50-million-trust-fund-to-support-global-action-on-disaster-resilience-of-infrastructure-systems\">a statement<\/a>.<\/li>\n<\/ul>\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\/blue-mediterranean-partnership\/\">Blue Mediterranean Partnership<\/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\/climate-resilience\/\">climate resilience<\/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\/ebrd\/\">EBRD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/eib\/\">EIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-finance\/\">green finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/loss-and-damage\/\">loss and damage<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/world-bank\/\">World Bank<\/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=\"74749\" 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=\"74749\">\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\">WIND<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/10\/international-consortium-inks-agreement-for-3-gw-wind-farm-in-egypt\/\">\r\n                            International consortium inks agreement for 3 GW wind farm in Egypt                        <\/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\/10\/international-consortium-inks-agreement-for-3-gw-wind-farm-in-egypt\/\" target=\"_blank\">\n                    Open in new tab            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<\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=International+consortium+inks+agreement+for+3+GW+wind+farm+in+Egypt+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F10%2Finternational-consortium-inks-agreement-for-3-gw-wind-farm-in-egypt%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\/10\/international-consortium-inks-agreement-for-3-gw-wind-farm-in-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/284.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"74750\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/10\/international-consortium-inks-agreement-for-3-gw-wind-farm-in-egypt\/284-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/284.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"284.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/284.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/284.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74749\" class=\"content-area-description single-story post-74749 post type-post status-publish format-standard has-post-thumbnail hentry category-wind tag-egypt tag-enterpriseclimate tag-orascom-construction tag-renewables tag-wind tag-wind-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>Another mega wind farm in Egypt:<\/strong> Egyptian contracting firm Orascom Construction\u2019s (OC) consortium with France\u2019s Engie and Japan\u2019s Toyota Tsusho has signed up to build a 3 GW wind farm, just days after <a href=\"https:\/\/enterprise.press\/stories\/2022\/11\/01\/oc-breaks-ground-on-ras-ghareb-wind-farm-suez-cement-adds-more-solar-to-its-energy-mix-85774\/\">breaking ground<\/a> on their 500 MW wind project in Ras Ghareb, according to an <a href=\"https:\/\/ent.news\/2022\/11\/OC-Consortium-Signs-MOU-to-Develop-3GW-Wind-Farm.pdf\">OC statement (pdf)<\/a>. The consortium signed an MoU for the wind farm with Egyptian energy authorities on the sidelines of COP, with the country\u2019s Prime Minister Moustafa Madbouly attending the signing ceremony. There are no details on the location or timeline for the project.<\/p>\n<p><strong>The details:<\/strong> OC is responsible for construction and will take an unspecified equity stake in the wind farm, which will be set up under a build, own, operate (BOO) framework. This will be the OC consortium\u2019s third local wind farm. Its Ras Ghareb project should go live in 2025, and it completed a 262.5 MW wind farm, also in Ras Ghareb, <a href=\"https:\/\/enterprise.press\/stories\/2019\/02\/24\/oc-consortium-to-complete-250-mw-wind-farm-in-ras-gharib-two-months-ahead-of-schedule\/\">in 2019<\/a>.<\/p>\n<p><strong>Wind is one of the front runners at COP:<\/strong> The project brings the total new wind-power generation capacity Egypt has locked down <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/952ee209-52e7-435e-860b-caf16ba6251b\">in recent days to 28 GW<\/a>. That\u2019s nearly half of the country\u2019s current installed capacity, which at the end of 2021 stood at 59.5 GW. It is also <a href=\"https:\/\/www.meed.com\/egypt-eyes-10bn-renewables-to-replace-thermal-plants\">more than 8x<\/a> greater than the country\u2019s total renewable-energy generation capacity, which was 3.4 GW at the end of last year. The new projects include two separate 10 GW wind farms that are set to be two of the world\u2019s largest: One from our friends at Infinity Power and Hassan Allam Utilities together with long-time partner Masdar; and <a href=\"https:\/\/enterprise.press\/stories\/2022\/11\/02\/acwa-unit-looks-to-build-worlds-second-largest-wind-farm-in-egypt-85890\/\">the other<\/a> from Saudi renewable energy developer Acwa Power.<\/p>\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\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/orascom-construction\/\">Orascom Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/wind\/\">wind<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/wind-energy\/\">Wind 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=\"74751\" 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=\"74751\">\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\">GREEN HYDROGEN<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/10\/eu-and-egypt-partner-on-green-hydrogen-morocco-and-israel-ink-agreement-for-hydrogen-production\/\">\r\n                            EU and Egypt partner on green hydrogen + Morocco and Israel ink agreement for hydrogen production                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/10\/eu-and-egypt-partner-on-green-hydrogen-morocco-and-israel-ink-agreement-for-hydrogen-production\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/climate\/2022\/11\/10\/eu-and-egypt-partner-on-green-hydrogen-morocco-and-israel-ink-agreement-for-hydrogen-production\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/climate\/2022\/11\/10\/eu-and-egypt-partner-on-green-hydrogen-morocco-and-israel-ink-agreement-for-hydrogen-production\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=EU and Egypt partner on green hydrogen + Morocco and Israel ink agreement for hydrogen production&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/10\/eu-and-egypt-partner-on-green-hydrogen-morocco-and-israel-ink-agreement-for-hydrogen-production\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/10\/eu-and-egypt-partner-on-green-hydrogen-morocco-and-israel-ink-agreement-for-hydrogen-production\/&title=EU and Egypt partner on green hydrogen + Morocco and Israel ink agreement for hydrogen production\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=EU+and+Egypt+partner+on+green+hydrogen+%2B+Morocco+and+Israel+ink+agreement+for+hydrogen+production+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F10%2Feu-and-egypt-partner-on-green-hydrogen-morocco-and-israel-ink-agreement-for-hydrogen-production%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/10\/eu-and-egypt-partner-on-green-hydrogen-morocco-and-israel-ink-agreement-for-hydrogen-production\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74751\" class=\"content-area-description single-story post-74751 post type-post status-publish format-standard hentry category-green-hydrogen tag-cop27 tag-egypt-eu-relations tag-enterpriseclimate tag-green-hydrogen tag-israel tag-morocco wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Green hydrogen continued to get plenty of attention at COP27 yesterday<\/strong>, with a few more agreements and partnerships moving forward on the sidelines of the summit.<\/p>\n<p><strong>EU + Egypt working on green hydrogen cooperation:<\/strong> The EU and Egypt are currently working on setting up a \u201clong-term partnership on renewable hydrogen\u201d to support the decarbonization of the two sides\u2019 energy systems by relying on renewable hydrogen (including green hydrogen), according to <a href=\"https:\/\/ent.news\/2022\/11\/Joint-Statement-on-the-EU-Egypt-Renewable-Hydrogen-Partnership.pdf\">a joint statement<\/a><a href=\"https:\/\/ent.news\/2022\/11\/Joint-Statement-on-the-EU-Egypt-Renewable-Hydrogen-Partnership.pdf\">(pdf)<\/a>. The partnership will see the two sides facilitating access to finance and investment along the green hydrogen value chain, with an eye to reduce emissions and achieve sustainable economic growth. It will also see them work on setting up policy and regulatory frameworks to support \u201cthe development of a hydrogen economy.\u201d<\/p>\n<p><strong>Morocco, Israel ink agreement on green hydrogen: <\/strong>Morocco\u2019s <a href=\"http:\/\/gaiaenergyre.com\/en\/\">Gaia Energy<\/a> will use Israeli <a href=\"https:\/\/www.h2pro.co\/\">H2Pro<\/a>\u2019s electrolyzer tech to accelerate its green hydrogen generational capacity for export to Europe, according to <a href=\"https:\/\/www.jpost.com\/israel-news\/article-721822\">The Jerusalem Post<\/a>. Details of both parties\u2019 investments for the agreement were not disclosed.<\/p>\n<p><strong>Israel signs adaptation and mitigation agreement with MENA countries:<\/strong> Israeli Environmental Protection Minister Tamar Zandberg signed an MoU with regional countries including Lebanon and Iraq to collaborate on minimizing regional carbon emissions and cooperate on adaptation projects, <a href=\"https:\/\/www.timesofisrael.com\/israel-joins-mideast-nations-including-iraq-lebanon-to-agree-on-climate-action\/\">The Times of Israel<\/a> reports. Signatories of the agreement committed to meeting again in four years to discuss the agreement\u2019s progress.<\/p>\n<p><strong><a href=\"https:\/\/www.masen.ma\/en\">The Moroccan Agency for Sustainable Energy<\/a><\/strong><strong> signed an agreement to establish a<\/strong><strong> clean energy transport network <\/strong>with Germany, Spain, France and Portugal. The five countries will transport clean energy between North Africa and Europe, according to a <a href=\"https:\/\/twitter.com\/MasenOfficiel\/status\/1590301987920564224\">statement<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/egypt-eu-relations\/\">Egypt-EU relations<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/morocco\/\">Morocco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74752\" 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=\"74752\">\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\">PUBLIC POLICY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/10\/ksa-introduces-66-new-climate-programs\/\">\r\n                            KSA introduces 66 new climate programs                        <\/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\/10\/ksa-introduces-66-new-climate-programs\/\" 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\/10\/ksa-introduces-66-new-climate-programs\/')\">\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\/10\/ksa-introduces-66-new-climate-programs\/\">\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=KSA introduces 66 new climate programs&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/10\/ksa-introduces-66-new-climate-programs\/\">\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\/10\/ksa-introduces-66-new-climate-programs\/&title=KSA introduces 66 new climate programs\">\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=KSA+introduces+66+new+climate+programs+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F10%2Fksa-introduces-66-new-climate-programs%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\/10\/ksa-introduces-66-new-climate-programs\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/3251.png?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"74753\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/10\/ksa-introduces-66-new-climate-programs\/3251-png\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/3251.png?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"3251.png\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/3251.png?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/3251.png?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74752\" class=\"content-area-description single-story post-74752 post type-post status-publish format-standard has-post-thumbnail hentry category-public-policy tag-cop27 tag-emissions tag-enterpriseclimate tag-greenhouse-gasses tag-net-zero tag-oil-and-gas tag-public-policy 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>KSA unveils 66 new climate programs to scale climate action: <\/strong>Saudi Arabia presented 66 new initiatives designed to scale climate action as part of the <a href=\"https:\/\/www.greeninitiatives.gov.sa\/about-sgi\/\">Saudi Green Initiative<\/a> (SGI) launched at COP26, <a href=\"https:\/\/www.arabnews.com\/node\/2195796\/business-economy\">Arab News<\/a> reports. The new programs are classified according to four thematic areas, SGI project manager Albaraa Aldhahri told the news outlet: The circular carbon economy; extending vegetation coverage and reducing degraded land; protecting wildlife habitats and biodiversity; and promoting sustainability.<\/p>\n<p><strong>New targets announced: <\/strong>The SGI is aiming to reduce emissions by 278 mn tons\/year by 2030, Aldhahri is quoted as saying. It aims to plant 10 bn trees \u201cin the coming decades\u201d and increase protected coastal areas and land by \u201cmore than 30% of the total area of Saudi Arabia,\u201d he added. The vast majority of the approved initiatives will extend vegetation coverage or reduce degraded land, he\u2019s quoted as saying.<\/p>\n<p><strong>About the Saudi Green Initiative:<\/strong> The SGI\u2019s overall goal is to promote programs that support environmental protection, energy transition and sustainability, to \u201crapidly scale climate action,\u201d <a href=\"https:\/\/www.greeninitiatives.gov.sa\/about-sgi\/\">its website notes<\/a>. It does this by bringing together Saudi government ministries, the private sector, and non-Saudi players, facilitating collaboration, the website adds.<\/p>\n<hr class=\"grey-line\">\n<p><strong>ALSO FROM THE POLICY FRONT-<\/strong><\/p>\n<p><strong>GHG emissions will be fully tracked:<\/strong> <a href=\"https:\/\/climatetrace.org\/\">Climate Trace<\/a>, an online platform monitoring and publishing greenhouse gas emissions for the top 72k polluters worldwide across 20 sectors, will monitor power plants, steel mills, oil and gas fields, cement and aluminum producers, among other contributors to climate change across the world, according to a <a href=\"https:\/\/climatetrace.org\/news\/more-than-70000-of-the-highest-emitting-greenhouse-gas\">statement<\/a>. Founded by a group of research NGOs, backed by former US Vice President and longtime climate activist Al Gore, it is the first platform identifying and tracking the most prominent emission producers, using AI to help its fleet of experts analyze and calculate emissions that previously-used methodologies would have missed. Catch more in <a href=\"https:\/\/enterprise.press\/stories\/2022\/11\/09\/al-gore-backed-group-launches-the-most-complete-ghg-emission-tracker-to-date-social-jet-lag-might-be-causing-your-long-term-fatigue-86711\/\">EnterprisePM<\/a>.<\/p>\n<p><strong>Big corporate is on board for carbon neutrality efforts:<\/strong> <a href=\"https:\/\/www.bechtel.com\/\">Bechtel<\/a>, <a href=\"https:\/\/www.ge.com\/\">General Electric<\/a>, <a href=\"https:\/\/www.gm.com\/\">General Motors<\/a>, <a href=\"https:\/\/www.honeywell.com\/us\/en\">Honeywell<\/a>, <a href=\"https:\/\/invenergy.com\/\">Invenergy<\/a>, and <a href=\"https:\/\/www.johnsoncontrols.com\/\">Johnson Controls<\/a> launched their Corporate Coalition for Innovation & Technology toward Net Zero Initiative to help countries achieve their net-zero ambitions, according to a <a href=\"https:\/\/www.honeywell.com\/us\/en\/press\/2022\/11\/six-businesses-launch-corporate-coalition-for-innovation-and-technology-toward-net-zero\">statement<\/a>. The initiative will provide nations with a platform for cost-effective tech solutions to realize climate targets and raise awareness on public and private sector partnerships to achieve decarbonization and net zero goals.<\/p>\n<ul>\n<li><strong>The clean energy transition is \u201cgood for business\u201d <\/strong>with wealthy countries standing to make huge economic, social and environmental gains by relying on cheaper power, UN climate chief Simon Stiell said, according to <a href=\"https:\/\/www.reuters.com\/business\/cop\/climate-action-is-good-business-says-new-un-climate-chief-2022-11-09\/\">Reuters<\/a>. <\/li>\n<li><strong>New regulations<\/strong> from the UAE\u2019s Department of Energy will require <strong>60% of Abu<\/strong><strong> Dhabi\u2019s electricity<\/strong> demands be sourced from <strong>renewable energy sources by 2035<\/strong>, according to <a href=\"https:\/\/wam.ae\/en\/details\/1395303099950\">WAM<\/a>.<\/li>\n<\/ul>\n<p><strong>MEANWHILE, OUTSIDE COP LAND-<\/strong><\/p>\n<p><strong>China will curb peak building-related emissions in 2030 \u2014 years after its cement <\/strong><strong>and building materials industries<\/strong>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-09\/china-delivers-blow-to-climate-with-new-building-emissions-deadline?srnd=green&leadSource=uverify%20wall\">Bloomberg<\/a> reports. The country\u2019s cement and building materials industries have set targets for 2023 and 2025 respectively, allowing China to ensure its growth remains on course even as it makes the transition to clean energy. China <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-31\/china-wants-more-coal-power-and-to-hit-climate-change-targets?leadSource=uverify%20wall\">invested<\/a> in expanding its coal-fired power capacity earlier this year as it aggressively expands its renewable capacity in tandem in order to source <a href=\"https:\/\/www.reuters.com\/business\/sustainable-business\/china-says-third-electricity-will-come-renewables-by-2025-2022-06-01\/\">a third of its electricity<\/a> from renewables by 2025.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/emissions\/\">emissions<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/greenhouse-gasses\/\">greenhouse gasses<\/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\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/public-policy\/\">PUBLIC POLICY<\/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=\"74754\" 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=\"74754\">\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\">DESALINATION<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/10\/uaes-metito-will-double-capacity-of-fujairah-port-desalination-plant\/\">\r\n                            UAE\u2019s Metito will double capacity of Fujairah Port desalination 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\/10\/uaes-metito-will-double-capacity-of-fujairah-port-desalination-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\/10\/uaes-metito-will-double-capacity-of-fujairah-port-desalination-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\/10\/uaes-metito-will-double-capacity-of-fujairah-port-desalination-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=UAE\u2019s Metito will double capacity of Fujairah Port desalination plant&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/10\/uaes-metito-will-double-capacity-of-fujairah-port-desalination-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\/10\/uaes-metito-will-double-capacity-of-fujairah-port-desalination-plant\/&title=UAE\u2019s Metito will double capacity of Fujairah Port desalination 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=UAE%E2%80%99s+Metito+will+double+capacity+of+Fujairah+Port+desalination+plant+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F10%2Fuaes-metito-will-double-capacity-of-fujairah-port-desalination-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\/10\/uaes-metito-will-double-capacity-of-fujairah-port-desalination-plant\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74754\" class=\"content-area-description single-story post-74754 post type-post status-publish format-standard hentry category-desalination tag-desalination tag-enterpriseclimate tag-fujairah-port tag-metito tag-united-arab-emirates tag-wastewater-treatment 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>UAE-based<\/strong> <strong><a href=\"https:\/\/www.metito.com\">Metito<\/a><\/strong><strong> will develop phase 2 of the country\u2019s <\/strong><strong><a href=\"https:\/\/fujairahport.ae\">Fujairah Port<\/a><\/strong><strong> desalination plant<\/strong>, <a href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/fujairah-port-awards-metito-the-second-phase-of-the-fujairah-port-desalination-plant-vmhq2vj7\">Zawya<\/a> reports. The sustainable water management solutions company will lead the engineering, procurement, and construction of a water treatment facility with a capacity of 3.5k cubic meters (cbm) of water per day. No financial details were announced as of yet.<\/p>\n<p><strong>Expansion will double the plant\u2019s current capacity: <\/strong>The project, due to be completed in under a year, will be connected to the first phase of the Fujairah Port desalination plant, which has a capacity of 3k cbm of water per day.<\/p>\n<p><strong>IN CONTEXT- Desalination is growing regionally.<\/strong> The UAE is investing heavily in the industry with <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/144d5922-10b7-44be-a637-2e0b4a9dcfed\">several other projects<\/a> in the pipeline, even piloting a <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/2b518cb4-4985-4564-ac19-536352fefeaa\">zero-carbon<\/a> desalination system. Dewa\u2019s solar-powered desalination plant entered the Guinness World Records last month as <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/2ae30bb0-d216-4aec-a969-3bf3a2e7dee4\">the world\u2019s largest<\/a>. Morocco\u2019s Agriculture Ministry issued a tender for a MAD 2.5 bn (USD 233 mn) wind-powered desalination plant <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/2ef80c4a-d382-4d72-8849-1c13f3d5cf87\">in September<\/a>, and Hassan Allam Holding is looking to invest USD 50-150 mn in renewable energy and desalination plants in the country, the company\u2019s CEO Amr Allam said <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/b45de912-e322-4b2a-bf2b-88d4e1060db4\">last month<\/a>.<\/p>\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\/desalination\/\">DESALINATION<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/fujairah-port\/\">Fujairah Port<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/metito\/\">Metito<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/united-arab-emirates\/\">United Arab Emirates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/wastewater-treatment\/\">wastewater treatment<\/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=\"74755\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74756\" 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=\"74756\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/10\/israels-biotic-gets-eur-2-mn-in-funding\/\">\r\n                            Israel\u2019s Biotic gets EUR 2 mn in funding                        <\/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\/10\/israels-biotic-gets-eur-2-mn-in-funding\/\" 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\/10\/israels-biotic-gets-eur-2-mn-in-funding\/')\">\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\/10\/israels-biotic-gets-eur-2-mn-in-funding\/\">\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=Israel\u2019s Biotic gets EUR 2 mn in funding&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/10\/israels-biotic-gets-eur-2-mn-in-funding\/\">\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\/10\/israels-biotic-gets-eur-2-mn-in-funding\/&title=Israel\u2019s Biotic gets EUR 2 mn in funding\">\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=Israel%E2%80%99s+Biotic+gets+EUR+2+mn+in+funding+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F10%2Fisraels-biotic-gets-eur-2-mn-in-funding%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\/10\/israels-biotic-gets-eur-2-mn-in-funding\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74756\" class=\"content-area-description single-story post-74756 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-carbon-offsetting tag-carbontek tag-climate-change tag-enterpriseclimate tag-farnek tag-germany tag-hydrogen tag-israel tag-net-zero tag-united-arab-emirates wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Israeli plastic-substitute company <\/strong><strong><a href=\"https:\/\/www.biotic-labs.com\/\">Biotic<\/a><\/strong><strong> raised EUR 2 mn (USD 2.01 mn) in a seed <\/strong><strong>round<\/strong>, according to a <a href=\"https:\/\/rockstart.pr.co\/219935-biotic-raises-2m-seed-round-to-commodify-biodegradable-plastic-materials\">press release<\/a>. Biotic produces biodegradable plastic by processing extracts of the carbon source of biomass \u2014 a macroalgae which grows in the ocean \u2014 using saline water. The funds will be used to increase the range of polymer types and build a plant to ramp up production capacity.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>Google\u2019s flood forecasting program<\/strong> can now provide life-saving forecasts <strong>one<\/strong><strong> week in advance<\/strong>, <a href=\"https:\/\/fortune.com\/2022\/11\/08\/google-ai-global-flood-hub-prediction-tool\/\">Fortune<\/a> reports. The tech offering is now available in 18 across Africa, South America, and southeast Asia, <a href=\"https:\/\/www.wired.com\/story\/google-ai-wildfire-flood-tracking\/\">Wired<\/a> reports.<\/li>\n<li>German energy company <strong>Uniper<\/strong> and Israeli oil and gas firm <strong>NewMed Energy<\/strong> signed an MoU that will see both parties collaborate on exporting blue and green hydrogen from Israel to Europe, according to <a href=\"https:\/\/www.offshore-energy.biz\/uniper-partners-with-newmed-energy-on-lng-and-hydrogen-to-minimise-energy-crisis\/\">Offshore Energy<\/a>.<\/li>\n<li><strong>UAE-based <\/strong><strong><a href=\"https:\/\/www.farnek.com\">Farnek<\/a><\/strong> launched <a href=\"https:\/\/www.carbon-tek.com\/\">CarbonTek<\/a>, an <strong>online carbon footprint<\/strong><strong> calculator<\/strong> to assist companies in achieving net zero, according to a <a href=\"https:\/\/www.farnek.com\/farnek-launches-digital-solution-to-support-uae-businesses-on-their-journey-to-net-zero\/\">company statement<\/a>.<\/li>\n<\/ul>\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\/carbon-offsetting\/\">carbon offsetting<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/carbontek\/\">CarbonTek<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/farnek\/\">Farnek<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/germany\/\">Germany<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/hydrogen\/\">hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/israel\/\">Israel<\/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\/united-arab-emirates\/\">United Arab Emirates<\/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=\"74757\" 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=\"74757\">\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\/10\/good-and-bad-news-we-might-have-fewer-insects-bugging-us-but-their-climate-induced-forced-migration-has-serious-impacts-on-our-ecosystem\/\">\r\n                            Good and bad news: We might have fewer insects bugging us, but their climate-induced forced migration has serious impacts on our ecosystem                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/5550.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"74758\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/10\/good-and-bad-news-we-might-have-fewer-insects-bugging-us-but-their-climate-induced-forced-migration-has-serious-impacts-on-our-ecosystem\/5550-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/5550.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"5550.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/5550.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/5550.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74757\" class=\"content-area-description single-story post-74757 post type-post status-publish format-standard has-post-thumbnail hentry category-on-your-way-out tag-climate-change tag-enterpriseclimate tag-environmental-protection tag-on-your-way-out tag-wildlife wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Global warming is causing insects to decamp to colder pastures:<\/strong> Bees, butterflies, and other pollinating insects critical to our food supplies are migrating to cooler climates to escape rising global temperatures, according to research out of the University of Maryland published in <a href=\"https:\/\/www.sciencedaily.com\/releases\/2022\/11\/221107110028.htm\">Science Daily<\/a>. Most insects are ectothermic, which means they are unable to regulate their own body temperatures, leading them to seek out naturally cooler areas as global warming upturns their ecosystems.<\/p>\n<p><strong>Why do insects matter at all? <\/strong>They comprise 80% of all the species that live on land, keep pest populations in check, clean up most of the earth\u2019s biowaste, and have provided significant remedies to many human ailments; bee venom has been utilized to combat multiple sclerosis, osteoarthritis, and chronic fatigue syndrome, according to research from the <a href=\"https:\/\/entomology.unl.edu\/scilit\/medicinal\">University of Nebraska-Lincoln.<\/a><\/p>\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\/environmental-protection\/\">environmental protection<\/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\/wildlife\/\">wildlife<\/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=\"74759\" 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\/10\/74759\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74759\" class=\"content-area-description single-story post-74759 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 hosts <a href=\"https:\/\/www.cop27egy.com\/\">COP27<\/a> in Sharm El Sheikh.<\/p>\n<p>15 November (Tuesday): <a href=\"https:\/\/www.hawkamah.org\/event\/5233\">Hawkamah Annual Conference (Building Investor Confidence Through Governance)<\/a>, Dubai, UAE.<\/p>\n<p>23-24 November (Wednesday-Thursday): <a href=\"https:\/\/www.facebook.com\/moegov.sa\/posts\/pfbid0HSxtqnTELrfrK4xaL84pnTsP9w4mjPCiPdAH2LA81efe7UXPbvjX64zynsc4zBnUl\">Global Conference on Sustainable Partnerships<\/a>, The Ritz-Carlton, Riyadh, Saudi Arabia.<\/p>\n<p>Deadline of bid submissions for the Ras Mohaisen \u2013 Baha \u2013 Makkah Independent Water Transmission Pipeline in Saudi Arabia.<\/p>\n<p><strong>COP27 sub-events:<\/strong><\/p>\n<p>UNFCCC\u2019s <a href=\"https:\/\/unfccc.int\/capacity-building-hub\">capacity building hub<\/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>7 December (Wednesday): <a href=\"https:\/\/www.thebig5.ae\/global-construction-impact-summit\/\">The Big 5 Global Construction Impact Summit<\/a>, Dubai World Trade Center, Dubai, UAE.<\/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>10-12 January (Tuesday-Thursday): <a href=\"https:\/\/www.futuremineralssummit.com\/\">The Future Minerals Forum<\/a>, Riyadh, Saudi Arabia.<\/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<\/a>, Abu Dhabi, UAE.<\/p>\n<p>14-21 January (Saturday-Saturday): <a href=\"https:\/\/abudhabisustainabilityweek.com\/\">Abu Dhabi Sustainability Week<\/a>, Abu Dhabi, 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>21-22 February (Tuesday-Wednesday): <a href=\"https:\/\/thearabgreensummit.com\/\">The Arab Green Summit<\/a>, Dubai, UAE.<\/p>\n<p>21-23 February (Tuesday-Thursday): <a href=\"https:\/\/worldesgsummit.com\/\">World Environment, Social and Governance (ESG) Summit<\/a>, 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>2-4 October (Monday-Wednesday): <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\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":74744,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-74743","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"6531c536-22eb-4c74-9b26-4335d4631806","teaser":"","photo_url":"https:\/\/ent.news\/2022\/11\/6877.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>It was a big day for carbon credits 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\/it-was-a-big-day-for-carbon-credits-at-cop27\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" 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