{"id":74794,"date":"2022-11-15T02:17:51","date_gmt":"2022-11-15T02:17:51","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=74794"},"modified":"2025-12-15T08:09:00","modified_gmt":"2025-12-15T08:09:00","slug":"uaes-alcazar-energy-raises-usd-336-6-mn-for-its-sustainable-infrastructure-fund","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/uaes-alcazar-energy-raises-usd-336-6-mn-for-its-sustainable-infrastructure-fund\/","title":{"rendered":"UAE\u2019s Alcazar Energy raises USD 336.6 mn for its sustainable infrastructure fund"},"content":{"rendered":"<section id=\"74796\" 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=\"74796\">\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\/15\/today-frustrations-arise-at-cop27-investors-love-their-money-more-than-climate-shocker\/\">\r\n                            TODAY: Frustrations arise at COP27 + Investors love their money more than climate (shocker)                        <\/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\/15\/today-frustrations-arise-at-cop27-investors-love-their-money-more-than-climate-shocker\/\" 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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Shoukry told the climate summit yesterday he wanted a comprehensive climate agreement with meaningful outcomes by Friday \u2014 and reminded state and other delegates that \u201c<strong>time is not on our side and the world is watching<\/strong>, let us come together and deliver now,\u201d <a href=\"https:\/\/www.reuters.com\/business\/environment\/world-is-watching-us-says-cop27-president-eyeing-climate-deal-2022-11-14\/\">Reuters<\/a> reports.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>There are just four days left of COP27:<\/strong> That\u2019s just four days for negotiators from developed and developing nations to come to agree on a way forward for emissions reduction and climate finance. COP27 President Sameh Shoukry reiterated his plea for a \u201cmeaningful\u201d climate agreement. \u201cIt is now up to us all here to rise to the occasion and respond to the demands and calls from our communities around the world. We will accept no less than meaningful outcomes at COP27,\u201d he told the summit yesterday. \u201cTime is not on our side and the world is watching. Let us come together and deliver now.\u201d<\/p>\n<p><strong>\u201c\u2018This could be the COP where we lose 1.5\u00b0C,<\/strong>\u201d warned COP26 chief Alok Sharma, as \u201canxiety grows over a push from some countries to weaken the text,\u201d <a href=\"https:\/\/www.theguardian.com\/environment\/live\/2022\/nov\/14\/cop27-egypt-lula-brazil-rainforests-climate-conference-live?CMP=share_btn_tw&page=with%3Ablock-63727f3a8f0879496a1ef12f#block-63727f3a8f0879496a1ef12f\">the Guardian<\/a> reports.<\/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 week <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>MEANWHILE- It\u2019s <\/strong><strong><a href=\"https:\/\/cop27.eg\/#\/presidency\/eventsThematicDetails\/energy-day\">Energy Day<\/a><\/strong><strong> at COP27<\/strong>, with sessions on renewable energy, energy efficiency, and energy transformation focusing on a just transition in the energy sector. Green hydrogen is expected to step into the spotlight as a potential energy source for the future. High-level officials and energy transition champions will kick off the day with a series of opening remarks setting the stage for the \u201cenergy trilemma\u201d the world is facing.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>WATCH THIS SPACE #1- KSA\u2019s <\/strong><strong><a href=\"https:\/\/www.pif.gov.sa\/en\/Pages\/NewsDetails.aspx?NewsId-227\/PIF-signs-MoU-with-BlackRock-to-explore-infrastructure-investments-in-Saudi-Arabia-and-the-Middle-East\">Public Investment Fund<\/a><\/strong><strong> has signed up as anchor investor for global asset manager <\/strong><strong><a href=\"https:\/\/www.blackrock.com\/corporate\/global-directory#bodyWrapper\">BlackRock<\/a><\/strong><strong>\u2019s<\/strong><strong> USD 620 bn (Saudi-focused) MENA infrastructure fund<\/strong>, according to a <a href=\"https:\/\/www.pif.gov.sa\/en\/Pages\/NewsDetails.aspx?NewsId-227\/PIF-signs-MoU-with-BlackRock-to-explore-infrastructure-investments-in-Saudi-Arabia-and-the-Middle-East\">statement<\/a>. BlackRock will set up a \u201cdedicated infrastructure investment team\u201d in Riyadh if the non-binding MoU becomes reality.<\/p>\n<p><strong>What does the BlackRock fund like?<\/strong> Energy, power, utilities, water, environment, transportation, telecommunications and social infrastructure. While the fund will invest across the region, Saudi will be its center of gravity.<\/p>\n<p><strong>WATCH THIS SPACE #2- Masdar, Hassan Allam Utilities and Infinity are lining up a USD 2 bn, 2 GW green hydrogen plant <\/strong>in an agreement they\u2019re expected to sign with the government of Egypt today.<\/p>\n<p><strong>UP NEXT: <\/strong><a href=\"https:\/\/cop27.eg\/#\/presidency\/eventsThematicDetails\/biodiversity-day\">Biodiversity day<\/a> is tomorrow, while Thursday is <a href=\"https:\/\/cop27.eg\/#\/presidency\/eventsThematicDetails\/solutions-day\">solutions day<\/a>.<\/p>\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 class='web-image' ><a href='https:\/\/climatexforum.enterprise.press\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/Enterprise-Climate-X-GEM-En-1600x.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n<p><strong>From Sharm to the Grand Egyptian Museum \u2014 the business community will move the <\/strong><strong>talk about a green transition ahead at the<\/strong> <strong><a href=\"https:\/\/climatexforum.enterprise.press\/index.html\">Enterprise Climate X Forum<\/a><\/strong>, which takes place at the Grand Egyptian Museum on Tuesday, 6 December 2022. We can think of no better place to discuss the world\u2019s most important industry than in a world-class museum that stands as a testament to our nation\u2019s ability to persevere (and innovate) for seven millennia. And it seems you can\u2019t either, judging by the responses and statements of support we\u2019ve been getting.<\/p>\n<p><strong>What\u2019s the Enterprise Climate X Forum? <\/strong>It\u2019s our first industry-specific conference, where CEOs, top execs, investors, bankers and development finance folks have 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. <a href=\"https:\/\/climatexforum.enterprise.press\/index.html\">You can learn more on our conference website here.<\/a><\/p>\n<p><strong>Some of the biggest names in business and finance are on board \u2014 are you? <\/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>HAPPENING TODAY-<\/strong><\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/www.hawkamah.org\/event\/5233\">Hawkamah annual conference<\/a><\/strong><strong> kicks off today in Dubai, <\/strong>addressing governance from the perspective of investors and covering 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<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>SMART POLICY- The UAE\u2019s Ras al Khaimah is rolling out a program to help manufacturers cut emissions and boost competitiveness. <\/strong>Early adopters include RAK Ceramics, Stevin Rock, RAK Rock. The program, unveiled at an <a href=\"http:\/\/www.rakenergysummit.com\/\">industry event<\/a>, targets companies making glass, ceramics, and other building materials.<\/p>\n<p><strong>DATA POINT-<\/strong> <strong>Green hydrogen could earn Africa USD 120 bn in GDP by <\/strong><strong>2050 and create 3.7 mn jobs<\/strong>, according to a <a href=\"https:\/\/abudhabisustainabilityweek.com\/-\/media\/adsw-revamp\/media\/adsw-reports\/report-africas-green-energy-revolution.pdf?la=en&hash=57DB36901FCF745AD32AA9BB8948581C60AFDD7A\">report (pdf)<\/a> by <a href=\"https:\/\/masdar.ae\">Masdar<\/a> and the <a href=\"https:\/\/abudhabisustainabilityweek.com\/en\">Abu Dhabi Sustainability Week<\/a>. The report outlines that 10% of the global clean fuel\u2019s production could come from Africa \u2014 which has potential to yield 30 to 60 mn tons annually \u2014 and most can be available for export after covering the continent\u2019s demand.<\/p>\n<p><strong>SIGN OF THE TIMES? ESG funds saw net outflows of USD 108 bn in the first nine months of the year amid fears of recession<\/strong>, <a href=\"https:\/\/www.reuters.com\/business\/cop\/money-before-climate-market-downturn-spurs-esg-fund-exodus-2022-11-11\/\">Reuters<\/a> reports citing data from Refinitiv. \u201cInvestors pulled money out of responsible investment funds \u2026 faster, relative to their size, than broader market funds for all but two months of 2022 through September,\u201d the newswire reports.<\/p>\n<p><strong>Why is this happening? <\/strong>As concerns over a global economic downturn continue, rising fossil fuel prices for instance are making some investors fall back to more lucrative \u2014 not-so-climate-friendly \u2014 funds. <strong>There\u2019s also a continuing backlash<\/strong> in some quarters of business and the finance industry against the mania for ESG reporting and ESG funds (background on that in <a href=\"https:\/\/www.kiplinger.com\/investing\/esg\/605184\/the-esg-investing-backlash\">Kiplinger<\/a> | <a href=\"https:\/\/www.cnbc.com\/2022\/09\/29\/the-esg-backlash-inside-the-executive-ranks-at-top-corporations.html\">CNBC<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-13\/an-abc-on-esg-and-the-kinds-of-backlash-it-s-facing-quicktake?sref=mmeFTDW1\">Bloomberg<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/the-esg-backlash-arrives-blackrock-mark-brnovich-strive-asset-management-attorneys-general-11660600459\">Wall Street Journal<\/a>)<\/p>\n<p><strong>PSA #1-<\/strong> <strong>Climate tech startups can now get support for \u201cscalability and growth\u201d from PwC\u2019s Middle East office<\/strong>, which PwC Middle East partner <a href=\"https:\/\/www.pwc.com\/m1\/en\/media-centre\/2022\/net-zero-future50-launches-support-climate-tech-innovators-region.html\">said<\/a> will help \u201cidentify the top disruptive technologies addressing the biggest climate challenges facing our region that would benefit from investment and scale up.\u201d <a href=\"https:\/\/www.pwc.com\/m1\/en\/esg\/future50.html#content-free-1-7993\">You can learn more about the program here.<\/a><\/p>\n<p><strong>PSA #2- Recycling app <\/strong><a href=\"https:\/\/www.veolia.com\/middleeast\/our-services\/recapp-your-app-recycle-home\">Recapp<\/a><strong> is moving from home recycling into business, <\/strong><strong><a href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/recapp-launches-digital-recycling-platform-in-uae-gorecappcom-ph4h88mg\">saying<\/a><\/strong><strong> it wants businesses in the Emirates to use its new app. <\/strong>The Veolia-owned app is <a href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/recapp-launches-digital-recycling-platform-in-uae-gorecappcom-ph4h88mg\">now targeting<\/a> retail stores, offices, schools, sport facilities, hotels and restaurants, among others. Businesses can sign up for one-time pickups or ask for weekly collection of recycling boxes.<\/p>\n<hr class=\"grey-line\">\n<p><strong>THE DANGER ZONE #1- The window to meet the 1.5\u00b0C warming threshold by 2030 laid out in the Paris Agreement is abruptly closing<\/strong>, according to the annual <a href=\"https:\/\/www.globalcarbonproject.org\/carbonbudget\/\">Global Carbon Budget<\/a> report, the authors said in a <a href=\"https:\/\/ent.news\/2022\/11\/1915.pdf\">press release (pdf)<\/a>. If greenhouse gas emissions continue at the current rate, there\u2019s a 50% chance that the world will breach the longstanding limit in nine years, the report says. To reach net-zero by 2050, emissions need to fall by as much as they did thanks to covid lockdowns every year.<\/p>\n<p><strong>THE DANGER ZONE #2- Emissions levels exceed 2021 forecasts amid a push for gas <\/strong>as countries continue to source their energy needs from gas in the wake of the Russia-Ukraine war, according to a <a href=\"https:\/\/climateactiontracker.org\/publications\/massive-gas-expansion-risks-overtaking-positive-climate-policies\/\">Climate Action Tracker<\/a> (CAT) report.<\/p>\n<p><strong>THE DANGER ZONE #3- Some 56 historical sites in Africa are under threat of erosion due to rising sea levels and flooding<\/strong>, according to a study published in scientific journal <a href=\"https:\/\/www.nature.com\/articles\/s41558-022-01280-1\">Nature Climate Change<\/a>. That number is projected to increase to 198 archaeological sites by 2050, the study notes.<\/p>\n<p>***<br \/>\n <strong>YOU\u2019RE READING ENTERPRISE CLIMATE, the essential MENA publication for senior execs who care about the world\u2019s most important industry. <\/strong>We\u2019re out Monday through Thursday at 4am Cairo \/ 5am Riyadh \/ 6am UAE.<\/p>\n<p>Were you forwarded this email? <strong>Get your own <\/strong><strong><a href=\"https:\/\/climate.enterprise.press\/subscribe\/\">subscription without charge 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><strong>CIRCLE YOUR CALENDAR- <\/strong><\/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\/adaptation\/\">adaptation<\/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\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a 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href=\"https:\/\/enterpriseam.com\/climate\/tag\/sustainability\/\">sustainability<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74797\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n\r\n    <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide mx-auto\">\r\n        <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/25497.png?ssl=1\">\r\n        <div class=\"overlay\"><\/div>\r\n        <div class=\"content\">\r\n            <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/25398.svg\" alt=\"\">\r\n            <\/a>\r\n            <span>Opening up a world of opportunity<\/span>\r\n        <\/div>\r\n    <\/div>\r\n\r\n      <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74798\" 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=\"74798\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">RENEWABLES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/15\/alcazar-energy-ii-secures-some-usd-337-mn-for-renewables-projects\/\">\r\n                            Alcazar Energy II secures some USD 337 mn for renewables projects                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" 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<\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/15\/alcazar-energy-ii-secures-some-usd-337-mn-for-renewables-projects\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/253.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"74799\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/15\/alcazar-energy-ii-secures-some-usd-337-mn-for-renewables-projects\/253-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/253.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"253.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/253.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/253.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74798\" class=\"content-area-description single-story post-74798 post type-post status-publish format-standard has-post-thumbnail hentry category-renewables tag-alcazar-energy-ii tag-egypt tag-enterpriseclimate tag-green-hydrogen tag-renewables tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>UAE infrastructure investor <\/strong><strong>Alcazar Energy reached a USD 336.6 mn first close for its second <\/strong><strong>sustainable infrastructure fund<\/strong>, according to a company <a href=\"https:\/\/alcazarenergy.com\/alcazar-energy-partners-ii-reaches-us336-6m-first-close-for-renewable-energy-projects\/\">statement<\/a>. The Alcazar Energy Partners II fund plans to invest in developing a portfolio of 2 GW worth of renewable energy projects across emerging markets, which will power up to 1 mn homes across developing countries offsetting some 3.2 mn tons of CO2 equivalent, the statement notes.<\/p>\n<p><strong>Who\u2019s in? EBRD. <\/strong>Limited partners include the European Bank for Reconstruction and Development (EBRD), which kicked in USD 80 mn to the first close. <strong>And a whole bunch of DFIs:<\/strong> Other LPs include the European Investment Bank, the International Finance Corporation, the Asian Infrastructure Investment Bank, the German Development Institution, and the Dutch Entrepreneurial Development Bank, among others.<\/p>\n<p><strong>The fund has a target to raise USD 500 mn<\/strong>, with a \u201chard cap\u201d of USD 650 mn. Its investments will help mobilize c. USD 2 bn in foreign direct investment and create some 15k construction jobs in EM.<\/p>\n<p><strong>Background:<\/strong> Alcazar Energy Partners I \u2014 the first fund by the UAE\u2019s <a href=\"https:\/\/alcazarenergy.com\/\">Alcazar Energy<\/a> \u2014 was launched in 2014 and raised a total of USD 240 mn to invest in equity for solar and wind energy projects with up to USD 700 mn poured into solar and wind farms in Egypt and Jordan, the statement says. The first fund\u2019s portfolio was acquired in 2021 by Chinese energy firm <a href=\"https:\/\/www.ctg.com.cn\/en\/\">China Three Gorges Corporation<\/a>. Alcazar Energy <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/291deece-f594-411e-9c53-6bb6156efd7d\">inked an agreement<\/a> to invest in a green hydrogen-based ammonia facility with a total production capacity of 230k tons annually with Egypt\u2019s Suez Canal Economic Zone back in August.<\/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\/alcazar-energy-ii\/\">Alcazar Energy II<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74800\" 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=\"74800\">\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\">COP Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/15\/a-peek-at-what-a-loss-and-damage-agreement-could-look-like-g7-launches-small-fund-for-climate-emergencies\/\">\r\n                            A peek at what a loss and damage agreement could look like + G7 launches small fund for climate emergencies                        <\/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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                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\/15\/a-peek-at-what-a-loss-and-damage-agreement-could-look-like-g7-launches-small-fund-for-climate-emergencies\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/3102.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"74801\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/15\/a-peek-at-what-a-loss-and-damage-agreement-could-look-like-g7-launches-small-fund-for-climate-emergencies\/3102-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/3102.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"3102.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/3102.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/3102.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74800\" class=\"content-area-description single-story post-74800 post type-post status-publish format-standard has-post-thumbnail hentry category-cop-watch tag-alliance-for-green-infrastructure-in-africa tag-cop-watch tag-enterpriseclimate tag-g7 tag-global-shield tag-loss-and-damage tag-v20 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>Here\u2019s what a global agreement on loss and damage (read: climate finance for the <\/strong><strong>developing world) could look like:<\/strong> The UN published <a href=\"https:\/\/ent.news\/2022\/11\/Co-facilitators_Elements_paper_COP_8f_CMA8f_0.pdf\">a draft text (pdf)<\/a> for a potential pact on loss and damage financing, giving us a first glimpse of what a global agreement on climate financing could look like.<\/p>\n<p><strong>Loss and damage funding could involve: <\/strong><\/p>\n<ul>\n<li>A new UNFCCC \u201cfit-for-purpose\u201d fund;<\/li>\n<li>An entity to operate the fund and strengthen existing operating entities;<\/li>\n<li>Public finance, including grants, and multi-sourced grant-based funding;<\/li>\n<li>Development finance and debt relief;<\/li>\n<li>Reform of multilateral development banks and international financial institutions;<\/li>\n<li>Humanitarian assistance.<\/li>\n<\/ul>\n<p><strong>This is still very much a work in progress<\/strong> and could change before being adopted at the end of the summit, <a href=\"https:\/\/www.reuters.com\/business\/environment\/cop27-considering-loss-damage-fund-among-other-finance-options-draft-text-2022-11-14\/\">Reuters<\/a> reports. We won\u2019t even begin to highlight all the areas that are going to require far more specific, concrete commitments if poorer nations are ever going to acquire the financial resources necessary to decarbonize their economies \u2014 let alone adapt to the damage that has (and will) be done.<\/p>\n<p><strong>Landing an agreement won\u2019t be easy: <\/strong>Wealthy nations have long refused to discuss the subject of compensation and fought tooth and nail to try and get it off the agenda for the summit. US climate envoy John Kerry put it bluntly last week, telling the conference that \u201cit\u2019s just not happening.\u201d<\/p>\n<p><strong>Progress in week one was slow, to say the least:<\/strong> Representatives from developing countries have spoken in harsh terms about the lack of progress in negotiations over financing, with one <a href=\"https:\/\/www.reuters.com\/business\/cop\/final-week-cop27-climate-talks-success-hinges-loss-damage-2022-11-14\/\">calling it<\/a> a \u201cbetrayal of vulnerable communities\u201d and nations. \u201cAll of the crunch issues have gotten logjammed,\u201d <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-14\/cop27-deal-looks-distant-as-loss-and-damage-slows-process?srnd=green-united-nations-climate-summit&leadSource=uverify%20wall&sref=mmeFTDW1\">another said<\/a>. \u201cYou\u2019re going into the second [week] with most of the big negotiating issues unresolved.\u201d<\/p>\n<p><strong>Egypt thinks the summit is salvageable:<\/strong> Egypt wants to get all countries on board with a \u201ccover text\u201d by Friday, COP27 President Sameh Shoukry <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-14\/cop27-deal-looks-distant-as-loss-and-damage-slows-process?srnd=green-united-nations-climate-summit&leadSource=uverify%20wall&sref=mmeFTDW1\">told the summit<\/a> yesterday. This will set out agreed targets and commitments and provide a framework for negotiations to continue at next year\u2019s COP28.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>MEANWHILE- The G7 will provide (a little bit) climate disaster relief:<\/strong> G7 countries yesterday <a href=\"https:\/\/www.bmz.de\/en\/news\/press-releases\/v20-g7-launch-global-shield-against-cllimate-risks-at-cop27-128244\">announced<\/a> a EUR 210 mn \u201cGlobal Shield\u201d initiative that will pay out ins. to countries affected by climate-related disasters. The initiative will be backed by EUR 170 mn from Germany and EUR 40 mn from other countries and when it is set up in <a href=\"https:\/\/www.reuters.com\/business\/cop\/plan-shield-people-climate-disasters-unveiled-cop27-2022-11-14\/\">January 2023<\/a> will provide money to <a href=\"https:\/\/www.reuters.com\/business\/cop\/pakistan-will-be-among-first-receive-g7-global-shield-climate-funding-2022-11-14\/\">Pakistan<\/a>, Ghana, Fiji and Senegal.<\/p>\n<p><strong>But some are calling it a distraction from the wider conversation on loss and damage and questioned its focus on ins:<\/strong> Harjeet Singh, head of global political strategy at the Climate Action Network, <a href=\"https:\/\/www.theguardian.com\/environment\/live\/2022\/nov\/14\/cop27-egypt-lula-brazil-rainforests-climate-conference-live?filterKeyEvents=false&page=with:block-63722a718f0813d2e7b589bd\">called it<\/a> \u201cyet another distraction strategy \u2026 to delay progress on loss and damage.\u201d Barbados climate envoy said they are \u201cnot yet persuaded\u201d on the ins. elements of the plan. \u201cUsing insurance is a method in which the victim pays, just in installments in the beginning,\u201d he said, calling for grants to be issued instead.<\/p>\n<p><strong>MORE FUNDS FOR GREEN INFRASTRUCTURE-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>AU, AfDB and Africa50 launch new alliance:<\/strong> The African Union, African Development Bank Group and <a href=\"https:\/\/www.africa50.com\/\">Africa50<\/a> launched the Alliance for Green Infrastructure in Africa (AGIA), saying that committing some USD 500 mn in funding will help deliver another USD 10 bn in capital for green infrastructure projects on the continent, according to <a href=\"https:\/\/www.afdb.org\/en\/news-and-events\/press-releases\/cop27-african-and-global-partners-launch-multi-billion-alliance-green-infrastructure-56403\">a statement<\/a>.<\/p>\n<p><strong>Who\u2019s on board? <\/strong>The European Investment Bank, EBRD, French Development Agency and others.<\/p>\n<p><strong>The details: <\/strong>AGIA intends to raise up to USD 500 mn to offer early-stage project development capital \u2014 with the aim to drumming up to USD 10 bn worth of green infrastructure investment on the continent, the statement says. Investment will be mobilized through co-investments, co-financing, risk mitigation and blended finance from alliance members.<\/p>\n<p><strong>Where will the funding go? <\/strong>AGIA is focusing on the energy, transport, water and sanitation sectors, as well as health, broadband, urban and rural infrastructure. Both large-scale projects \u2014 like huge solar or green hydrogen plants \u2014 and smaller initiatives like cleantech, energy storage or e-mobility projects will be eligible for support.<\/p>\n<p><strong>IN COP POLICY NEWS- <\/strong><\/p>\n<p><strong>Egypt\u2019s COP27 Presidency launched the <\/strong><strong><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/db607b02-9fe9-4aa1-8cba-baa10e98c0ad\">Aware (Action for water adaptation and resilience) initiative<\/a><\/strong> yesterday in partnership with the World Meteorological Organization in a bid to address inclusive cooperation to water related challenges and solutions, according to a <a href=\"https:\/\/ent.news\/2022\/11\/2927.pdf\">statement (pdf)<\/a>. The program aims to develop policies that will ultimately help improve and preserve access to water as communities adapt to water scarcity. Its focus will include support for sustainable wastewater management, sanitation policies and strategies, and improve early warning systems for extreme weather events.<\/p>\n<p><strong>DECARBONIZING THE GULF OF SUEZ-<\/strong><\/p>\n<p><strong>Egypt to work on decarbonizing the Gulf of Suez: <\/strong>The Egyptian Natural Gas Holding Company (EGAS) signed an MoU with US conglomerate General Electric and subsea robotics firm <a href=\"https:\/\/seasplit.com\/\">Seasplit Technologies<\/a> to explore developing 1.5 GW of offshore wind power in the Gulf of Suez, according to a joint <a href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/egas-seasplit-technologies-and-ge-announce-mou-for-the-industrial-decarbonization-of-the-gulf-of-suez-s2dua4h4\">statement<\/a>. The facilities will be used to power offshore oil and gas facilities.<\/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\/alliance-for-green-infrastructure-in-africa\/\">Alliance for Green Infrastructure in Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/cop-watch\/\">COP WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/g7\/\">G7<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/global-shield\/\">global shield<\/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\/v20\/\">V20<\/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=\"74802\" 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=\"74802\">\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\">MACRO PICTURE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/15\/climate-change-poses-a-risk-to-egypts-long-term-growth-says-world-bank-report\/\">\r\n                            Climate change poses a risk to Egypt\u2019s long-term growth, says World Bank report                        <\/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\/15\/climate-change-poses-a-risk-to-egypts-long-term-growth-says-world-bank-report\/\" 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\/15\/climate-change-poses-a-risk-to-egypts-long-term-growth-says-world-bank-report\/')\">\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\/15\/climate-change-poses-a-risk-to-egypts-long-term-growth-says-world-bank-report\/\">\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=Climate change poses a risk to Egypt\u2019s long-term growth, says World Bank report&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/15\/climate-change-poses-a-risk-to-egypts-long-term-growth-says-world-bank-report\/\">\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\/15\/climate-change-poses-a-risk-to-egypts-long-term-growth-says-world-bank-report\/&title=Climate change poses a risk to Egypt\u2019s long-term growth, says World Bank report\">\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=Climate+change+poses+a+risk+to+Egypt%E2%80%99s+long-term+growth%2C+says+World+Bank+report+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F15%2Fclimate-change-poses-a-risk-to-egypts-long-term-growth-says-world-bank-report%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\/15\/climate-change-poses-a-risk-to-egypts-long-term-growth-says-world-bank-report\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/306.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"74803\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/15\/climate-change-poses-a-risk-to-egypts-long-term-growth-says-world-bank-report\/306-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/306.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"306.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/306.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/306.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74802\" class=\"content-area-description single-story post-74802 post type-post status-publish format-standard has-post-thumbnail hentry category-macro-picture tag-climate-change tag-cop27 tag-egypt tag-enterpriseclimate tag-macro-picture tag-nexus-of-water-food-and-energy 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-05\"><\/a> <strong>Climate change is set to cost Egypt some 2-6% of its GDP by 2060, further<\/strong> <strong>exacerbating the country\u2019s development challenges<\/strong>, according to a <a href=\"https:\/\/ent.news\/2022\/11\/3074.pdf\">report (pdf)<\/a> from the World Bank, the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA). This figure is based on the impact climate change is expected to have on \u201cwater resources, tourism revenue, coastal resources, agriculture and human health,\u201d according to the report.<\/p>\n<p><strong>Egypt\u2019s biggest challenges?<\/strong> Impending water scarcity, a rapidly-increasing population and the current strong relationship between economic growth and rising emissions are all areas of particular concern, the report notes.<\/p>\n<p><strong>Sobering stats show the road ahead without reform:<\/strong> Without increasing agricultural water efficiency, \u201cwater scarcity will increase <a href=\"https:\/\/www.cropin.com\/blogs\/virtual-water-trade-in-the-context-of-agricultural-production#:~:text=Virtual%20water%20trade%20exactly%20means,water%20inevitably%20for%20their%20production.\">net virtual water imports<\/a> by 15% by 2030, reaching 45% in drought periods,\u201d the report says. And though Egypt is on track to meet emissions-reduction targets in its Nationally Determined Contribution (NDC) <a href=\"https:\/\/enterprise.press\/stories\/2022\/07\/26\/new-details-on-egypts-updated-emissions-targets-76549\/\">commitments<\/a> by 2030, projected annual power sector emissions are later expected to grow \u2014 reaching 121 metric tons (MT) of CO2 equivalent in 2050, up from a current estimated 78 MT, unless policies change.<\/p>\n<p><strong>An alternative vision: Low-carbon growth and increased global competitiveness. <\/strong>The report identifies key short- and medium-term policies and investments to mitigate climate change impact and improve resource allocation efficiency and global competitiveness.<\/p>\n<p><strong>Egypt\u2019s taken important policy steps to address climate change\u2026 <\/strong>The country\u2019s overall climate change policy has shifted to a long-term strategy linked to its aspirations to be a regional green leader, the report notes. Updating its NDCs, issuing green bonds, and launching its National Climate Change Strategy 2050 (<a href=\"https:\/\/enterprise.press\/stories\/2022\/05\/19\/this-evening-were-waiting-on-the-cbes-decision-on-rates-environment-ministry-to-go-in-depth-on-egypts-national-climate-strategy-for-2050-71428\/\">NCCS<\/a>) and Nexus of Water, Food and Energy (<a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/0f89aaa1-522d-4e62-bf5f-f6239fcb84a3\">NWFE<\/a>) Program were all key developments, it notes.<\/p>\n<p><strong>\u2026But lags on implementation: <\/strong>Climate action has so far been fragmented, regulation needs to be more comprehensive and applicable \u2014 rather than a series of decrees \u2014 and governance, institutional and human capacity needs to be built, the report says.<\/p>\n<p><strong>Key action recommendations outlined in the report:<\/strong><\/p>\n<p><strong>1- Build resilience to prepare for future uncertainty \u2014 especially stemming from water<\/strong> <strong>shortages: <\/strong>Climate change resilience needs to be built through targeted strategies, focusing on coastal areas, ports and logistics, cities and infrastructure, and transport. Overall risk can be managed through better information sharing, early warning systems, population behavior change, and resource allocation. In rural areas, investing in storage infrastructure for strategic grains will be essential. Drought management and other information systems should be made use of. Investment and innovation in \u201ckey adaptation sectors\u201d \u2014 water, agriculture, urban development and environmental management \u2014 needs to be streamlined. All of this needs to be underpinned by effective policy.<\/p>\n<p><strong>2- Move to a \u201clow-carbon trajectory\u201d to enhance export competitiveness and avoid<\/strong> <strong>carbon-intensive lock-in\u2026 <\/strong>Egypt should move full steam ahead towards decarbonization, particularly in energy, transport and industry. Renewable energy should be scaled up and integrated further into the national grid, which could \u201creduce exposure to external price shocks, shift domestic use of surplus gas production to value chains with higher value added, and potentially expand exports.\u201d Egypt\u2019s \u201csignificant\u201d potential in blue hydrogen, and carbon capture utilization and storage (CCUS) should also be leveraged.<\/p>\n<p><strong>\u2026through targeted investment and regulatory reform:<\/strong> Transitioning to a low-carbon economy requires more private investment, underpinned by more scope for competition in the energy sector and regulatory reforms, such as setting decarbonization and carbon-intensity targets, measurement standards, and reporting requirements. It would also require better strategic use of public funds.<\/p>\n<p><strong>3- Reduce energy inefficiency in electricity and industry: <\/strong>Egypt needs to remove or reduce the \u201csizable explicit subsidies\u201d in the electricity sector (standing at some USD 8 bn) and diesel for transport (around USD 4 bn). \u201cThis USD 12 bn total (about 3% of GDP) would alone finance most of the annualized adaptation investment needs for cities,\u201d the report says. Egypt should also remove non-tariff barriers \u2014 including price controls and technical barriers to trade \u2014 which affect renewable energy, waste management and recycling product imports.<\/p>\n<p><strong>4- Bring the private sector on board, strengthen green finance, and use policy<\/strong> <strong>instruments to reduce investment needs: <\/strong>Egypt could boost green public investment by ensuring better coordination between public sector bodies through public-private partnerships, and using more innovative green financial instruments. More private investment could be spurred by \u201cleveling the playing field for private sector participation\u201d and ensuring more transparency in emissions reporting. Various policy instruments should be used to help reduce investment needs, including carbon pricing, regulation and taxation. And financing sources \u2014 including taxes, debts and reprioritization \u2014 should be balanced.<\/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\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/macro-picture\/\">MACRO PICTURE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/nexus-of-water-food-and-energy\/\">Nexus of Water Food and Energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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=\"74804\" 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=\"74804\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/15\/earnings-watch-taqa-group-reports-3q-earnings\/\">\r\n                            Earnings watch: Taqa Group reports 3Q earnings                        <\/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\/15\/earnings-watch-taqa-group-reports-3q-earnings\/\" 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\/15\/earnings-watch-taqa-group-reports-3q-earnings\/')\">\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\/15\/earnings-watch-taqa-group-reports-3q-earnings\/\">\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=Earnings watch: Taqa Group reports 3Q earnings&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/15\/earnings-watch-taqa-group-reports-3q-earnings\/\">\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\/15\/earnings-watch-taqa-group-reports-3q-earnings\/&title=Earnings watch: Taqa Group reports 3Q earnings\">\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=Earnings+watch%3A+Taqa+Group+reports+3Q+earnings+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F15%2Fearnings-watch-taqa-group-reports-3q-earnings%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\/15\/earnings-watch-taqa-group-reports-3q-earnings\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74804\" class=\"content-area-description single-story post-74804 post type-post status-publish format-standard hentry category-earnings-watch tag-earnings-watch tag-enterpriseclimate tag-taqa-group wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>The UAE\u2019s Taqa Group reported AED 2.2 bn in net income in 3Q 2022, up 59% y-o-y<\/strong>, according to its <a href=\"https:\/\/www.taqa.com\/wp-content\/uploads\/2022\/11\/14112022-TAQA-Q3-MDA-En.pdf\">management discussion and analysis presentation (pdf<\/a><a href=\"https:\/\/www.taqa.com\/wp-content\/uploads\/2022\/11\/14112022-TAQA-Q3-MDA-En.pdf\">)<\/a>. The company saw AED 13.7 bn in gross revenues during the quarter, rising 14.3% y-o-y. On a nine-month basis, Taqa\u2019s bottom line rose 53% y-o-y to AED 6.5 bn on AED 38.7 bn in revenues, up 14% y-o-y, according to its <a href=\"https:\/\/www.taqa.com\/press-releases\/taqa-group-reports-net-income-of-aed-6-5-billion-for-first-nine-months-of-2022\/\">earnings release<\/a>. Oil and gas was \u201ca significant contributor to bottom line growth,\u201d the earnings release noted.<\/p>\n<p><strong>Taqa Group has also committed to a 2030 ESG strategy that will see a 25% reduction of<\/strong><strong> scope 1 and scope 2 emissions across the Group<\/strong>, \u201cincluding a 33% reduction of UAE portfolio emissions compared to the 2019 baseline,\u201d it added. Scope 1 and scope 2 emissions are defined by the <a href=\"https:\/\/ghgprotocol.org\/sites\/default\/files\/standards_supporting\/FAQ.pdf\">GHG Protocol Corporate Standard (pdf)<\/a> as \u201cdirect emissions from owned or controlled sources\u201d and \u201cindirect emissions from the generation of purchased energy.\u201d<\/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\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/taqa-group\/\">Taqa Group<\/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=\"74805\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74806\" 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=\"74806\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/15\/morocco-belgium-ink-agreement-on-solar-thermal-energy-eu-earmarks-eur-8-mn-for-sustainable-fishing-in-the-med-ksa-and-indonesia-explore-green-energy-value-chain\/\">\r\n                            Morocco + Belgium ink agreement on solar thermal energy, EU earmarks EUR 8 mn for sustainable fishing in the Med, KSA and Indonesia explore green energy value chain                        <\/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\/15\/morocco-belgium-ink-agreement-on-solar-thermal-energy-eu-earmarks-eur-8-mn-for-sustainable-fishing-in-the-med-ksa-and-indonesia-explore-green-energy-value-chain\/\" 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\/15\/morocco-belgium-ink-agreement-on-solar-thermal-energy-eu-earmarks-eur-8-mn-for-sustainable-fishing-in-the-med-ksa-and-indonesia-explore-green-energy-value-chain\/')\">\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\/15\/morocco-belgium-ink-agreement-on-solar-thermal-energy-eu-earmarks-eur-8-mn-for-sustainable-fishing-in-the-med-ksa-and-indonesia-explore-green-energy-value-chain\/\">\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=Morocco + Belgium ink agreement on solar thermal energy, EU earmarks EUR 8 mn for sustainable fishing in the Med, KSA and Indonesia explore green energy value chain&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/15\/morocco-belgium-ink-agreement-on-solar-thermal-energy-eu-earmarks-eur-8-mn-for-sustainable-fishing-in-the-med-ksa-and-indonesia-explore-green-energy-value-chain\/\">\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\/15\/morocco-belgium-ink-agreement-on-solar-thermal-energy-eu-earmarks-eur-8-mn-for-sustainable-fishing-in-the-med-ksa-and-indonesia-explore-green-energy-value-chain\/&title=Morocco + Belgium ink agreement on solar thermal energy, EU earmarks EUR 8 mn for sustainable fishing in the Med, KSA and Indonesia explore green energy value chain\">\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=Morocco+%2B+Belgium+ink+agreement+on+solar+thermal+energy%2C+EU+earmarks+EUR+8+mn+for+sustainable+fishing+in+the+Med%2C+KSA+and+Indonesia+explore+green+energy+value+chain+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F15%2Fmorocco-belgium-ink-agreement-on-solar-thermal-energy-eu-earmarks-eur-8-mn-for-sustainable-fishing-in-the-med-ksa-and-indonesia-explore-green-energy-value-chain%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\/15\/morocco-belgium-ink-agreement-on-solar-thermal-energy-eu-earmarks-eur-8-mn-for-sustainable-fishing-in-the-med-ksa-and-indonesia-explore-green-energy-value-chain\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74806\" class=\"content-area-description single-story post-74806 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-ammonia tag-belgium tag-carbon-storage tag-enterpriseclimate tag-indonesia tag-morocco tag-saudi-arabia tag-solar-energy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Morocco, Belgium ink agreement on renewables:<\/strong> Morocco and Belgium will collaborate on a project for the production and storage of solar thermal energy (STE) from renewable sources, <a href=\"https:\/\/www.moroccoworldnews.com\/2022\/11\/352350\/morocco-belgium-launch-green-energy-storage-project\">Morocco World News<\/a> reports. The facility will harness the thermal energy produced from Morocco\u2019s 580 MW Noor Ouarzazate solar energy farm and transform it into electricity to offset carbon emissions, the news outlet notes. STE converts radiant solar energy into heat to be repurposed for power generation, according to research published in <a href=\"https:\/\/www.sciencedirect.com\/topics\/engineering\/solar-thermal-energy\">Science Direct<\/a>.<\/p>\n<p><strong>The EU is earmarking EUR 8 mn annually for more sustainable fishing in the <\/strong><strong>Mediterranean<\/strong>, according to <a href=\"https:\/\/ec.europa.eu\/commission\/presscorner\/detail\/en\/ip_22_6842\">a statement<\/a>. The EU and a number of its Mediterranean neighbors agreed on five multi-annual management plans to make fishing more sustainable in the basin. The measures proposed include \u201c[managing] and [controlling] fisheries, aquaculture and the protection of sensitive habitats.\u201d<\/p>\n<p><strong>KSA and Indonesia explore hydrogen and ammonia value chain:<\/strong> Saudi-based energy company Aramco signed an agreement with Jakarta-headquartered oil company Pertamina to individually conduct feasibility studies on the creation of a hydrogen and ammonia value chain in Indonesia, according to a <a href=\"https:\/\/www.aramco.com\/en\/news-media\/news\/2022\/aramco-and-pertamina-explore-hydrogen-and-ammonia-value-chain\">statement<\/a>. Both firms will also work on developing a carbon capture, storage and utilization facility in Pertamina\u2019s existing plants. The statement does not disclose whether the ammonia referenced will be green or blue.<\/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\/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\/ammonia\/\">AMMONIA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/belgium\/\">Belgium<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/carbon-storage\/\">CARBON STORAGE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/indonesia\/\">Indonesia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/morocco\/\">Morocco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/solar-energy\/\">solar energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74807\" 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=\"74807\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/15\/in-a-continuation-of-heaven-and-hell-references-at-cop27\/\">\r\n                            In a continuation of heaven and hell references at COP27\u2026                        <\/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\/15\/in-a-continuation-of-heaven-and-hell-references-at-cop27\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/climate\/2022\/11\/15\/in-a-continuation-of-heaven-and-hell-references-at-cop27\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/climate\/2022\/11\/15\/in-a-continuation-of-heaven-and-hell-references-at-cop27\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=In a continuation of heaven and hell references at COP27\u2026&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/15\/in-a-continuation-of-heaven-and-hell-references-at-cop27\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/15\/in-a-continuation-of-heaven-and-hell-references-at-cop27\/&title=In a continuation of heaven and hell references at COP27\u2026\">\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=In+a+continuation+of+heaven+and+hell+references+at+COP27%E2%80%A6+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F15%2Fin-a-continuation-of-heaven-and-hell-references-at-cop27%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/15\/in-a-continuation-of-heaven-and-hell-references-at-cop27\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/1302.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"74808\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/15\/in-a-continuation-of-heaven-and-hell-references-at-cop27\/1302-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/1302.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1302.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/1302.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/1302.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74807\" class=\"content-area-description single-story post-74807 post type-post status-publish format-standard has-post-thumbnail hentry category-on-your-way-out tag-art tag-climate-change tag-cop27 tag-egypt tag-enterpriseclimate tag-on-your-way-out wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Step into the future of the planet through art: <\/strong>Egyptian-Lebanese artist <a href=\"https:\/\/www.bahiashehab.com\/\">Bahia<\/a><a href=\"https:\/\/www.bahiashehab.com\/\">Shehab<\/a> partnered with art studio Fine Acts for an art installation dubbed \u201cHeaven and Hell in the Anthropocene\u201d where COP27 attendees could envision two different climate change outcome scenarios based on their climate action choices, according to a <a href=\"https:\/\/www.prnewswire.com\/news-releases\/climate-change-art-installation-commissioned-by-fine-acts-makes-global-leaders-sweat-at-cop27-301676061.html\">statement<\/a>. Attendees answered a few questions on what they would be willing to do to mitigate climate change, and were sent to either the \u201cheaven\u201d or \u201chell\u201d room based on their answers. The dark hell room\u2019s temperature was hot and smelled like decomposing fruits and hospital rooms, while the bright heaven room\u2019s weather was around 24\u00b0C and smelled like fresh blossoms, engulfed with natural sounds, <a href=\"https:\/\/www.washingtonpost.com\/arts-entertainment\/2022\/11\/12\/cop-27-art-installation\/\">the Washington Post<\/a> reports. The aim was to make participants see how their daily actions can affect climate change.<\/p>\n<p><strong>The good news? <\/strong>Shehab sent 537 individuals to \u201chell\u201d and 969 to \u201cheaven.\u201d<\/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\/art\/\">art<\/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\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/on-your-way-out\/\">ON YOUR WAY OUT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74809\" 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\/15\/74809\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74809\" class=\"content-area-description single-story post-74809 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":74795,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-74794","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"a378e8d7-72a9-4756-8513-8b03c8c9c9d5","teaser":"","photo_url":"https:\/\/ent.news\/2022\/11\/3349.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>UAE\u2019s Alcazar Energy raises USD 336.6 mn for its sustainable infrastructure fund - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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