{"id":75454,"date":"2023-01-05T01:51:43","date_gmt":"2023-01-05T01:51:43","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=75454"},"modified":"2025-12-15T08:21:08","modified_gmt":"2025-12-15T08:21:08","slug":"tunisia-will-spend-usd-12-3-bn-on-a-two-year-green-development-plan","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/tunisia-will-spend-usd-12-3-bn-on-a-two-year-green-development-plan\/","title":{"rendered":"Tunisia will spend USD 12.3 bn on a two-year green development plan"},"content":{"rendered":"<section id=\"75456\" 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=\"75456\">\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\/2023\/01\/05\/today-tunisia-reveals-its-new-green-development-plan-the-gcc-had-a-blockbuster-year-for-green-and-sustainable-bonds-and-sukuks\/\">\r\n                            TODAY: Tunisia reveals its new green development plan + the GCC had a blockbuster year for green and sustainable bonds and sukuks                        <\/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\/2023\/01\/05\/today-tunisia-reveals-its-new-green-development-plan-the-gcc-had-a-blockbuster-year-for-green-and-sustainable-bonds-and-sukuks\/\" 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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We have a couple of stories from the region to cap a fairly quiet news week down below.<\/p>\n<p><strong>A quick programming note:<\/strong> Enterprise Climate will be taking a publication holiday on Monday, 9 January. We\u2019ll be back in your inboxes at our usual time on Tuesday, 10 January.<\/p>\n<p><strong>THE BIG CLIMATE STORY- <\/strong>Tunisia has unveiled a two-year development plan in which the government will invest USD 12.3 bn to greenify its agricultural sector, partly by supporting startups working on water scarcity and drought and authorizing the use of agricultural land for renewables projects.<\/p>\n<p><strong>^^ We have chapter and verse on this story and more in the news well, below. <\/strong><\/p>\n<p><strong>THE BIG CLIMATE STORY OUTSIDE THE REGION-<\/strong> <strong>No one major climate story is<\/strong><strong> dominating international press coverage today, but there is big news out there.<\/strong> India approved a USD 2.1 bn incentive plan to promote green hydrogen as it hopes to become a \u201cglobal hub\u201d for green hydrogen, aiming at annual production of 5 mn tons by 2030, <a href=\"https:\/\/www.reuters.com\/business\/environment\/india-approves-2-billion-incentive-plan-green-hydrogen-industry-2023-01-04\/\">Reuters<\/a> quotes Information Minister Anurag Thakur as saying. It also plans to build 60-100 GW of electrolyzer capacity for green hydrogen production, put in place mandatory targets for green hydrogen consumption for specific industries, and offer incentives for electrolyzer manufacturing and green hydrogen production, Thakur noted. Investment in the sector is expected to total USD 96.6 bn by 2030, he added.<\/p>\n<p><strong>India\u2019s green hydrogen push has expanded to MENA: <\/strong>India\u2019s Adani Group <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/1bd39713-2ba8-4e34-be39-10ff1cf51d2a\">recently signed<\/a> an agreement to develop and license Australian electrolyzer technology, and has reportedly been exploring the feasibility of hydrogen production in Morocco and Oman. ReNew Power signed an agreement with El Sewedy Electric <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/1f8d7402-6d05-4eae-b3b0-b5bb811be7ab\">in November<\/a> for an USD 8 bn green hydrogen project in Egypt.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>PSA-<\/strong> <strong>Tunisia slashes customs + VAT on imports of EV charging components:<\/strong> Imports of equipment for electric vehicle charging will be subject to lower customs and value added taxes, after the Tunisian government cut the customs tariff by 10% and the VAT by 7% for these imports, <a href=\"https:\/\/lapresse.tn\/147299\/loi-de-finances-2023-une-taxation-favorable-a-lutilisation-des-voitures-electriques\/\">La Presse de Tunisie<\/a> reports. The tax incentives, which will be valid until 31 December of this year, are meant to accelerate the transition to electric vehicles with hopes of deploying 50k EVs in the North African country by 2025, according to a Tunisian Environment Ministry study cited by the outlet.<\/p>\n<p><strong>WATCH THIS SPACE #1- Saudi Arabia will depend on private sector investments <\/strong><strong>to explore mineral reserves:<\/strong> KSA is looking to its private sector to unlock its full mining potential and will streamline and digitize the license application process under Saudi law, <a href=\"https:\/\/www.forbes.com\/sites\/zengernews\/2023\/01\/03\/saudi-arabia-looks-to-mining-as-way-to-diversify-its-economy\/?sh=1b89cbe95eaa\">Forbes<\/a> quotes Saudi\u2019s Vice Minister for Mining Affairs Khalid Al-Mudaifer as saying. The country is currently undertaking a geological survey to confirm the mining potential of minerals which it believes would amount to USD 1.3 tn, Al-Mudaifer told the news outlet.<\/p>\n<p><strong>Roadblocks still stand in the way:<\/strong> The main impediment is that the kingdom lacks a <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/551f255a-0fdc-447b-992d-0d0134c533b6\">ready<\/a><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/551f255a-0fdc-447b-992d-0d0134c533b6\">supply of water<\/a> which is key for mining and the transportation of resources from mines in the north to the east of the country, where reserves will be processed and shipped. Saudi Arabia\u2019s <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/62956b40-b26b-4240-966f-8ff1376b9cf6\">2023 budget<\/a> may address this, with a portion of its SAR 72 bn earmarked for the kingdom\u2019s economic resource development including environmental infrastructure, energy sources, and desalination.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>SIGN OF THE TIMES- Global lending to green projects surpasses fossil <\/strong><strong>fuel ventures for the first time: <\/strong>2022 saw the amount of money raised for climate-friendly ventures in global debt markets edge out the funds raised for fossil-fuel companies for the first time, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-01-04\/green-lending-exceeds-fossil-fuel-financing-for-first-time-green-insight?srnd=green&leadSource=uverify%20wall\">Bloomberg data<\/a> shared yesterday. Some USD 580 bn was raised in debt markets last year for green projects, while the oil gas and coal industries secured funds closer to USD 530 bn, Bloomberg notes. Revenue generated in 2022 from the sale of green bonds and loans stood at some USD 3.3 bn in 2022, while the sale of bonds and loans for the highest-polluting energy sectors stood at some USD 2.5 bn, Bloomberg data indicates.<\/p>\n<p><strong>But Big Oil is probably getting more funds from other sources:<\/strong> Last year\u2019s high oil prices likely reduced fossil fuel companies\u2019 dependence on capital markets, and they could also be securing capital from other sources like private equity, research manager at nonprofit Rainforest Action Network April Merleaux tells Bloomberg.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"climate\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><p>***<br \/>\n <strong>YOU\u2019RE READING ENTERPRISE CLIMATE, the essential regional publication for senior execs who care about the world\u2019s most important industry. <\/strong>Enterprise Climate covers everything from finance and tech to regulation, products and policy across the Middle East and North Africa. In a nod to the growing geographical ambitions of companies in our corner of the world, we also include an overview of the big trends and data points in nearby countries, including Africa and southern Europe.<\/p>\n<p><strong>Enterprise Climate is published at 4am CLT \/ 5am Riyadh \/ 6am UAE Monday through Thursday by Enterprise<\/strong>, the folks who bring you Enterprise Egypt, your essential 6am and 3pm read on business, finance, policy and economy in Egypt and emerging markets.<\/p>\n<p><strong><a href=\"https:\/\/climate.enterprise.press\/subscribe\/\">Subscribe to Enterprise Climate here<\/a><\/strong> or reach out to us on <a href=\"mailto:climate@enterprisemea.com\">climate@enterprisemea.com<\/a> with comments, suggestions and story tips.<\/p>\n<p><strong>***<\/strong><\/p>\n<p><strong>CIRCLE YOUR CALENDAR-<\/strong> <strong>Saudi Arabia will host <\/strong><strong><a href=\"https:\/\/www.futuremineralsforum.com\/\">The Future Minerals Forum<\/a><\/strong> from Tuesday, 10 January to Thursday, 12 January at the King Abdul Aziz International Conference Center in Riyadh. The event will gather 200 industry leaders and over 50 ministers to discuss attracting investments to the mining industry and decarbonizing mining projects globally. You can register for the event <a href=\"https:\/\/www.futuremineralsforum.com\/attend\/\">here<\/a>.<\/p>\n<p><strong>UAE renewable energy firm Masdar will host <\/strong><strong><a href=\"https:\/\/abudhabisustainabilityweek.com\/\">Abu Dhabi<\/a><\/strong><strong><a href=\"https:\/\/abudhabisustainabilityweek.com\/\">Sustainability Week<\/a><\/strong> from Saturday, 14 January to Saturday, 21 January. The event will gather eight presidents and prime ministers and 30k participants in a series of conferences and summits including the Atlantic Council\u2019s <a href=\"https:\/\/abudhabisustainabilityweek.com\/ADSW\/ADSW-Events\/Abu-Dhabi-Sustainable-Finance-Forum\">Global Energy Forum<\/a>, the <a href=\"https:\/\/abudhabisustainabilityweek.com\/ADSW\/ADSW-Events\/World-Future-Energy-Summit\">World Future Energy Summit<\/a>, Masdar\u2019s <a href=\"https:\/\/abudhabisustainabilityweek.com\/ADSW\/ADSW-Events\/Green-Hydrogen-Summit\">Green Hydrogen Summit<\/a>, The International Renewable Energy Agency\u2019s <a href=\"https:\/\/www.irena.org\/events\/2023\/Jan\/The-New-Generation-of-Decision-Makers-IRENA-Youth-Forum\">Youth Forum<\/a>, and the <a href=\"https:\/\/abudhabisustainabilityweek.com\/ADSW\/ADSW-Events\/Abu-Dhabi-Sustainable-Finance-Forum\">Abu Dhabi Sustainable Finance Forum<\/a>.<\/p>\n<p><strong>The UAE is hosting the Atlantic Council\u2019s <\/strong><strong><a href=\"https:\/\/www.atlanticcouncil.org\/programs\/global-energy-center\/global-energy-forum\/\">Global Energy Forum<\/a><\/strong> on Saturday, 14 January and Sunday, 15 January in Abu Dhabi. The forum will discuss the ongoing global energy crisis and its impact on the green transition, energy security, and decarbonization.<\/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\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/india\/\">India<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/mining\/\">MINING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/tunisia\/\">Tunisia<\/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=\"75458\" 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 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href=\"https:\/\/enterpriseam.com\/climate\/2023\/01\/05\/tunisia-earmarks-usd-12-3-bn-in-public-spending-for-new-green-development-plan\/\">\r\n                            Tunisia earmarks USD 12.3 bn in public spending for new green development plan                        <\/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\/2023\/01\/05\/tunisia-earmarks-usd-12-3-bn-in-public-spending-for-new-green-development-plan\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/910.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"75460\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/01\/05\/tunisia-earmarks-usd-12-3-bn-in-public-spending-for-new-green-development-plan\/910-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/910.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"910.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/910.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/910.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-75459\" class=\"content-area-description single-story post-75459 post type-post status-publish format-standard has-post-thumbnail hentry category-climate-policy tag-agriculture tag-climate-policy tag-enterpriseclimate tag-food-security tag-investment tag-phosphates tag-tunisia 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>Tunisia\u2019s new public policy targets greener agriculture: <\/strong>Tunisia\u2019s government unveiled a 2023-2025 development plan aiming to \u201cgreenify\u201d its agricultural industry, increase phosphate production, address rising poverty and spur more private sector investment, French daily publication <a href=\"https:\/\/www.lemonde.fr\/afrique\/article\/2023\/01\/04\/en-tunisie-le-secteur-prive-au-c-ur-du-plan-de-developpement-du-gouvernement_6156559_3212.html\">Le Monde<\/a> reports.<\/p>\n<p><strong>The financials:<\/strong> The country plans to allocate some USD 12.3 bn for the development program through public spending from 2023-2025, Le Monde notes. It\u2019s also looking to bring in private sector participation through facilitating public-private partnerships, among other things. Tunisia is hoping to increase the private sector\u2019s share of investments in the program to 60% over the three years.<\/p>\n<p><strong>The recently-agreed IMF loan could help drive these developments: <\/strong>Tunisia\u2019s USD 1.9 bn IMF package, <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ea7b7de0-d874-45fa-adb2-05d58b7bb353\">agreed upon in October<\/a>, contains provisions designed to help the country build climate change resilience, we noted at the time. These requirements include measures to promote investment in renewables, land and water management, to preserve the country\u2019s coastline, and support agriculture, health, and tourism. Tunisia is still awaiting the final green light from the IMF for the dispersal of funds \u2014 which should then spur other international support \u2014 Le Monde notes.<\/p>\n<p><strong>The \u201cgreen\u201d elements of the plan are focused on resource use:<\/strong> Tunisian authorities will seek to support startups that are addressing the issues of water scarcity and drought through innovations in water reuse, Le Monde notes. The government is also set to authorize the use of agricultural land for renewables projects \u2014 notably in wind and solar energy, it adds.<\/p>\n<p><strong>And a leap in phosphate production: <\/strong>Tunisia\u2019s three-year plan is targeting an increase in annual phosphate production to 5.6 mn tons in 2023 and 12 mn tons in 2025 \u2014 up from its current 3.7 mn tons, Le Monde notes. Phosphates are among the country\u2019s few natural resources, but their production has decreased dramatically over the past decade, the outlet adds.<\/p>\n<p><strong>We can assume this is meant to enhance food security: <\/strong>Phosphorus \u2014 the mineral found in phosphates \u2014 is essential for the growth of food, but its supply is \u201cincreasingly disrupted,\u201d raising the risk of a global food crisis, notes a recent article in <a href=\"https:\/\/theconversation.com\/phosphorus-supply-is-increasingly-disrupted-we-are-sleepwalking-into-a-global-food-crisis-196538\">the Conversation<\/a>. Tunisia is particularly vulnerable to food crises, having been <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/369e745f-e39d-4548-85db-4f10f38e2c18\">recently identified<\/a> by the IFC as one of several Arab countries (including Yemen, Iraq, Lebanon, and Libya) potentially in need of support from its soon-to-be-launched USD 6 bn global food security platform.<\/p>\n<p><strong>But there\u2019s a catch:<\/strong> Phosphate mining has <a href=\"https:\/\/www.biologicaldiversity.org\/campaigns\/phosphate_mining\/\">substantial environmental impacts<\/a>, including air pollution, water contamination, and the degradation of wildlife.<\/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\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-policy\/\">CLIMATE POLICY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/food-security\/\">food security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/investment\/\">investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/phosphates\/\">phosphates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/tunisia\/\">Tunisia<\/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=\"75461\" 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=\"75461\">\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\">GREEN BONDS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/01\/05\/gccs-green-bonds-and-sukuks-had-a-better-2022-than-we-thought\/\">\r\n                            GCC\u2019s green bonds and sukuks had a better 2022 than we thought                        <\/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\/2023\/01\/05\/gccs-green-bonds-and-sukuks-had-a-better-2022-than-we-thought\/\" 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\/2023\/01\/05\/gccs-green-bonds-and-sukuks-had-a-better-2022-than-we-thought\/')\">\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\/2023\/01\/05\/gccs-green-bonds-and-sukuks-had-a-better-2022-than-we-thought\/\">\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=GCC\u2019s green bonds and sukuks had a better 2022 than we thought&url=https:\/\/enterpriseam.com\/climate\/2023\/01\/05\/gccs-green-bonds-and-sukuks-had-a-better-2022-than-we-thought\/\">\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\/2023\/01\/05\/gccs-green-bonds-and-sukuks-had-a-better-2022-than-we-thought\/&title=GCC\u2019s green bonds and sukuks had a better 2022 than we thought\">\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=GCC%E2%80%99s+green+bonds+and+sukuks+had+a+better+2022+than+we+thought+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F01%2F05%2Fgccs-green-bonds-and-sukuks-had-a-better-2022-than-we-thought%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\/2023\/01\/05\/gccs-green-bonds-and-sukuks-had-a-better-2022-than-we-thought\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/1457.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"75462\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/01\/05\/gccs-green-bonds-and-sukuks-had-a-better-2022-than-we-thought\/1457-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/1457.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1457.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/1457.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/1457.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-75461\" class=\"content-area-description single-story post-75461 post type-post status-publish format-standard has-post-thumbnail hentry category-green-bonds tag-adcb tag-dubai-islamic-bank tag-enterpriseclimate tag-first-abu-dhabi-bank tag-green-bonds tag-green-finance tag-green-sukuk tag-pif tag-saudi-national-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-02\"><\/a> <strong>GCC green and sustainable bond and sukuk issuances saw massive growth in<\/strong><strong> volume and value last year<\/strong>, with some USD 8.5 bn raised from 15 issuances \u2014 a sizable increase from the USD 605 mn raised from six issuances in 2021, according to data from Bloomberg\u2019s Capital Markets League Tables picked up by <a href=\"https:\/\/www.zawya.com\/en\/markets\/fixed-income\/gulfs-green-sustainable-bond-and-sukuk-market-hits-85bln-s7agrmj3\">Zawya<\/a>. The Bloomberg data isn\u2019t publicly available.<\/p>\n<p><strong>Saudi Arabia came in hot \u2014 and the UAE wasn\u2019t far behind: <\/strong>KSA was the region\u2019s leading issuer, accounting for over 50% of total issuance volumes, with the remainder coming out of the UAE. In 2021, all GCC green and sustainable bond and sukuk issuances came from the UAE, Zawya cites Bloomberg data showing.<\/p>\n<p><strong>Who were the big players? <\/strong>First Abu Dhabi Bank (FAB) played a leading role in the region, raising some USD 1.49 bn through three green bond issuances, Zawya notes. Also name-checked were the GCC\u2019s major debut issuances: A USD 3 bn green bond issuance by Saudi Arabia\u2019s <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/29128c1e-0d05-4a99-b8e2-f05247e4258d\">Public Investment Fund (PIF)<\/a>, a USD 750 mn sustainable sukuk issuance by <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/6e6ee2c2-c2c7-4f60-93cd-237f2f8b0999\">Dubai Islamic Bank (DIB)<\/a>, a USD 750 mn sustainable sukuk by <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-national-bank-debut-sustainable-sukuk-top-19-bln-orders-2022-01-12\/\">Saudi National Bank (SNB)<\/a> and a USD 500 mn green bond by <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/039de4e2-7078-4457-8904-11d3d4430560\">Abu Dhabi Commercial Bank (ADCB)<\/a>.<\/p>\n<p><strong>All this growth despite a year of volatility:<\/strong> As we noted in our <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/0042e226-6388-4f21-acbc-dfe6819222fa\">Year in Review on climate finance<\/a>, MENA green bonds and sukuk had a good year \u2014 despite global bond market volatility. Globally, sales of new green and sustainable bonds and sukuk decreased 14% y-o-y in 2022, falling to USD 635 bn \u2014 in part, off the back of rising interest rates and overall volatility, according to the Bloomberg data.<\/p>\n<p><strong>And there\u2019s more to come: <\/strong>As <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/b3599423-c563-41aa-945b-10de45f07194\">we noted yesterday<\/a>, we can expect the boom to continue in 2023 as last year\u2019s major debut issuances \u201csuggest sustainable finance is continuing to enter the mainstream in the region,\u201d Zawya quotes Venty Mulani, Bloomberg LP data specialist in sustainable fixed income as saying.<\/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\/adcb\/\">ADCB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/dubai-islamic-bank\/\">Dubai Islamic Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/first-abu-dhabi-bank\/\">First Abu Dhabi Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-bonds\/\">green bonds<\/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\/green-sukuk\/\">Green sukuk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/pif\/\">PIF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-national-bank\/\">Saudi National 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=\"75463\" 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=\"75463\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/01\/05\/2023-will-likely-see-gcc-sovereign-wealth-funds-continue-their-renewables-shopping-spree\/\">\r\n                            2023 will likely see GCC sovereign wealth funds continue their renewables shopping spree                        <\/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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<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/climate\/2023\/01\/05\/2023-will-likely-see-gcc-sovereign-wealth-funds-continue-their-renewables-shopping-spree\/&title=2023 will likely see GCC sovereign wealth funds continue their renewables shopping spree\">\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=2023+will+likely+see+GCC+sovereign+wealth+funds+continue+their+renewables+shopping+spree+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F01%2F05%2F2023-will-likely-see-gcc-sovereign-wealth-funds-continue-their-renewables-shopping-spree%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/3655.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"3655.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/3655.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/3655.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-75463\" class=\"content-area-description single-story post-75463 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-enterpriseclimate tag-gcc tag-ma tag-ma-watch tag-renewables tag-sovereign-wealth-funds 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>The GCC\u2019s Western renewables acquisitions trend is poised to continue in 2023:<\/strong> Among the key trends we noted in 2022\u2019s MENA climate investment landscape was the push by sovereign wealth funds (SWFs) to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/0a1e7ed6-2e80-4307-920c-831186731106\">snap up renewables assets<\/a> outside the region \u2014 notably in Europe and the US. <a href=\"https:\/\/globalswf.com\/reports\/2023annual#a-diverse-village-9\">A report<\/a> published on Sunday by data platform <a href=\"https:\/\/globalswf.com\/\">Global SWF<\/a> \u2014 which tracks over 400 SWFs and public pension funds \u2014 predicts the trend will carry on into 2023, with GCC SWFs set to accelerate their interest and investments towards renewables and Western assets.<\/p>\n<p><strong>Green investment by SWFs saw a substantial boost in 2022: <\/strong>Globally, state-owned investment (SOI) in renewables assets stood at USD 18.7 bn in 2022, the Global SWF report notes. Although this comes in at just below 2021 figures, if we were to exclude a 2021 USD 6 bn investment by Abu Dhabi\u2019s ADQ and Kazakhstan\u2019s SWF Samruk-Kazyna in building wind farms, 2022 \u201cwould have been a record high for green investing,\u201d the report notes. SOI vehicles upped their investment in European renewables by 45% to USD 8.4 bn in 2022, it adds.<\/p>\n<p><strong>GCC SWFs played a big role here:<\/strong> GCC investment funds put forward 29% of the total SOI capital poured into renewables in 2022 \u2014 making them one of three major contributors (Canadian funds contributed 33% and Singapore contributed 26%). The UAE\u2019s Mubadala was the second-largest single SWF investor in renewables in 2022, the report adds.<\/p>\n<p><strong>Green investment is a major trend that\u2019s \u201chere to stay,\u201d and GCC SWFs will seek to <\/strong><strong>capitalize on this<\/strong>, the report tells us. \u201cThe transition to low-carbon energy sources is at the top of the agenda of GCC SWFs as they seek to diversify domestic and regional economies and gain exposure to progress towards the Paris Agreement\u2019s net zero goals,\u201d it adds. Renewable energy investment is highly attractive for SOIs in general, as renewables assets are largely stable, can withstand inflation, and investing in them supports net-zero goals, the report argues.<\/p>\n<p><strong>GCC SWFs\u2019 pivot to Western assets set to continue: <\/strong>GCC SWFs more than doubled their investments in Western economies in 2022 to USD 51.6 bn from USD 21.8 bn in 2021, the Global SWF report notes. Out of 60 \u201cmega\u201d investments (with ticket sizes of at least USD 1 bn), 26 were undertaken by GCC SWFs \u2014 17 of which were in US or European assets, it tells us. \u201cIn 2023 and beyond, Middle Eastern sovereign investors will likely continue to be very active in Europe and North America,\u201d the report adds.<\/p>\n<p><strong>GCC SWFs are also in a much stronger position than their peers: <\/strong>\u201cIn the global context of geopolitical, economic, and financial uncertainty, Middle Eastern funds are shining more than ever,\u201d the Global SWF report notes. MENA oil and gas producers are set to benefit from additional revenues of USD 1.3 tn over the coming four years, thanks to the energy crisis spurred by the Ukraine war, the <a href=\"https:\/\/www.ft.com\/content\/33a985a5-6955-4f44-869f-82e82e620581\">Financial Times<\/a> notes, citing IMF forecasts. Much of that extra wealth will be funneled into the region\u2019s SWFs, the FT adds.<\/p>\n<p><strong>And they\u2019ll likely retain this advantage in 2023: <\/strong>High oil prices and currency stability in the GCC mean that large, liquid funds like Abu Dhabi\u2019s ADIA, Kuwait\u2019s KIA and Qatar\u2019s QIA are set to receive substantial capital inflows this year. Meanwhile, funds like Abu Dhabi\u2019s Mubadala and ADQ, Dubai\u2019s ICD and Bahrain\u2019s Mumtalakat may not see large amounts of new capital but also won\u2019t suffer major losses, because of their limited exposure to traditional stocks and bonds, the Global SWF report adds. \u201cInvestors from the region will emerge even stronger from the current economic scenario,\u201d it predicts.<\/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\/gcc\/\">GCC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/ma\/\">M&amp;A<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/sovereign-wealth-funds\/\">Sovereign wealth funds<\/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=\"75465\" 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=\"75465\">\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\">MACRO PICTURE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/01\/05\/menas-state-owned-companies-are-bearing-the-burden-of-the-regions-decarbonization-efforts\/\">\r\n                            MENA\u2019s state-owned companies are bearing the burden of the region\u2019s decarbonization efforts                        <\/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\/2023\/01\/05\/menas-state-owned-companies-are-bearing-the-burden-of-the-regions-decarbonization-efforts\/\" 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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These SOEs will be essential to meeting decarbonization efforts as they represent a significant share of the region\u2019s economic activity and a definitive drop in their emissions \u2014 spurred by programs in initiatives currently being implemented \u2014 would have a significant impact on regional emissions as a whole.<\/p>\n<p><strong>Which companies are we talking about?<\/strong> Some of these 20 SOEs include Emirates Airlines, Saudi Aramco, and the Saudi Electricity Company.<\/p>\n<p><strong>These companies have massive climate plans in the works, which will have an outsized impact on regional decarbonization: <\/strong>In its examination of 20 of MENA\u2019s largest state-owned emitters that disclose their scope one and scope two emissions, the WEF found that these companies were ahead of other businesses in the region in their climate-related initiatives. Some 44% of the firms were found to be pushing down toxic emissions levels from nitrogen and sulfur oxides, while over 70% launched programs to minimize water consumption and inaugurated wastewater management initiatives. Similarly, 67% of the SOEs had initiatives on waste reduction.<\/p>\n<p><strong>Why does it matter?<\/strong> GHG reductions from energy giants like Aramco would spell out a massive push down in carbon generation for MENA as a whole, the WEF notes, and as industry leaders, the companies would also encourage smaller businesses to follow their footsteps by setting an example. Since SOEs in MENA also make up most of the utility providers in our region, they can guide citizens on energy-efficient practices that conserve power and push down emissions, <a href=\"https:\/\/www.weforum.org\/agenda\/2023\/01\/state-owned-companies-accelerating-sustainability-in-the-middle-east-and-north-africa-davos2023\/\">WEF<\/a> notes.<\/p>\n<p><strong>The largest emitters in the region are also eyeing power from renewables:<\/strong> Almost 90% of the SOEs have plans to source a chunk of their power needs from renewable energy sources and 50% laid the groundwork to use clean hydrogen and carbon capture tech to push down their carbon footprint. Aramco, for instance, <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/11783b31-2cc0-4e20-8474-8a10600554ee\">signed an MoU<\/a> with China\u2019s state-owned coal mining company Shandong Energy to cooperate in technologies ranging from renewables to hydrogen and carbon capture and storage. 30% have plans to use sustainable aviation fuels.<\/p>\n<p><strong>The Achilles heel? Carbon neutrality targets:<\/strong> While companies like ADNOC and Aramco declared ambitions to be carbon neutral by 2050, the research found that publicly-owned firms in MENA still have a long way to go on the decarbonization front. Only 30% of MENA SOEs declared goals to pursue a net-zero target, 20% have devised a plan to attain carbon neutrality, and only 5% have enforced climate change disclosure frameworks.<\/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\/decarbonization\/\">decarbonization<\/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\/macro-picture\/\">MACRO PICTURE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/mena\/\">MENA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/net-zero\/\">net-zero<\/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=\"75467\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"75468\" 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=\"75468\">\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\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/01\/05\/germanys-misses-decarbonization-target-for-2022\/\">\r\n                            Germany\u2019s misses decarbonization target for 2022                        <\/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\/2023\/01\/05\/germanys-misses-decarbonization-target-for-2022\/\" 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\/2023\/01\/05\/germanys-misses-decarbonization-target-for-2022\/')\">\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\/2023\/01\/05\/germanys-misses-decarbonization-target-for-2022\/\">\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=Germany\u2019s misses decarbonization target for 2022&url=https:\/\/enterpriseam.com\/climate\/2023\/01\/05\/germanys-misses-decarbonization-target-for-2022\/\">\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\/2023\/01\/05\/germanys-misses-decarbonization-target-for-2022\/&title=Germany\u2019s misses decarbonization target for 2022\">\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=Germany%E2%80%99s+misses+decarbonization+target+for+2022+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F01%2F05%2Fgermanys-misses-decarbonization-target-for-2022%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\/2023\/01\/05\/germanys-misses-decarbonization-target-for-2022\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/1182.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"75469\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/01\/05\/germanys-misses-decarbonization-target-for-2022\/1182-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/1182.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1182.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/1182.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/1182.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-75468\" class=\"content-area-description single-story post-75468 post type-post status-publish format-standard has-post-thumbnail hentry category-around-the-world tag-around-the-world tag-decarbonization tag-enterpriseclimate tag-germany tag-net-zero 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>Auf Wiedersehen, 2022 decarbonization goal:<\/strong> Germany\u2019s energy consumption dropped 4.7% y-o-y, but a reliance on coal and oil due to natural gas shortages more than canceled out the reduced energy consumption\u2019s effect on the country\u2019s emissions, <a href=\"https:\/\/www.reuters.com\/business\/environment\/germany-lagging-emissions-goals-despite-renewables-boom-think-tank-2023-01-04\/\">Reuters<\/a> reports, citing research by Berlin-based green think tank Agora Energiewende. The increase in coal and oil use comes despite renewables accounting for 46% of Germany\u2019s energy mix. The country generated 761 mn tons of GHG in 2022, missing its target of reducing emission to 756 mn tons.<\/p>\n<p><strong>Not just Germany:<\/strong> Coal consumption is rising to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f3356771-674a-4036-91ee-75f81c6a81f9\">record highs<\/a> with no signs of abating until 2025 amid a continued energy supply crunch. The use of coal rose by 1.2% in 2022 surpassing 8 bn tons in a world first as the Russia-Ukraine war\u2019s impact has forced countries to increase their reliance on coal amid supply chain disruptions.<\/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\/around-the-world\/\">AROUND THE WORLD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/decarbonization\/\">decarbonization<\/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\/net-zero\/\">net-zero<\/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=\"75470\" 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=\"75470\">\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\">KUDOS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/01\/05\/egypt-pv-project-wins-best-sustainable-energy-provider-award-from-international-finance-magazine\/\">\r\n                            Egypt PV project wins best sustainable energy provider award from International Finance Magazine                        <\/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\/2023\/01\/05\/egypt-pv-project-wins-best-sustainable-energy-provider-award-from-international-finance-magazine\/\" 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\/2023\/01\/05\/egypt-pv-project-wins-best-sustainable-energy-provider-award-from-international-finance-magazine\/')\">\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\/2023\/01\/05\/egypt-pv-project-wins-best-sustainable-energy-provider-award-from-international-finance-magazine\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt PV project wins best sustainable energy provider award from International Finance Magazine&url=https:\/\/enterpriseam.com\/climate\/2023\/01\/05\/egypt-pv-project-wins-best-sustainable-energy-provider-award-from-international-finance-magazine\/\">\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\/2023\/01\/05\/egypt-pv-project-wins-best-sustainable-energy-provider-award-from-international-finance-magazine\/&title=Egypt PV project wins best sustainable energy provider award from International Finance Magazine\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+PV+project+wins+best+sustainable+energy+provider+award+from+International+Finance+Magazine+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F01%2F05%2Fegypt-pv-project-wins-best-sustainable-energy-provider-award-from-international-finance-magazine%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\/2023\/01\/05\/egypt-pv-project-wins-best-sustainable-energy-provider-award-from-international-finance-magazine\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/911.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"75471\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/01\/05\/egypt-pv-project-wins-best-sustainable-energy-provider-award-from-international-finance-magazine\/911-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/911.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"911.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/911.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/911.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-75470\" class=\"content-area-description single-story post-75470 post type-post status-publish format-standard has-post-thumbnail hentry category-kudos tag-egypt tag-enterpriseclimate tag-kudos tag-renewables wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Egypt\u2019s solar panel project lands international award:<\/strong> The Egyptian government\u2019s <a href=\"https:\/\/egypt-pv.org\/?lang=en\">Egypt PV program<\/a> \u2014 which offers cash incentives to businesses and individuals looking to implement small-scale solar energy systems \u2014 bagged the International Finance Magazine\u2019s most sustainable energy provider in Egypt award for 2022, according to a <a href=\"https:\/\/www.linkedin.com\/posts\/egypt-pv_aetaezaeraeaabraesaevaexaeyaetabraepaesaedaeuaepaehaer-activity-7016123993103437824-Wj57?utm_source=share&utm_medium=member_desktop\">statement<\/a>. Egypt PV won the British Energy Institute\u2019s award in its \u201cLow Carbon\u201d category <a href=\"https:\/\/egypt-pv.org\/%D8%A7%D9%84%D8%B5%D9%86%D8%A7%D8%B9%D8%A9-%D9%81%D9%88%D8%B2-%D9%85%D8%B4%D8%B1%D9%88%D8%B9-%D9%86%D8%B8%D9%85-%D8%A7%D9%84%D8%AE%D9%84%D8%A7%D9%8A%D8%A7-%D8%A7%D9%84%D8%B4%D9%85\/?lang=en\">in 2020<\/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\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/kudos\/\">KUDOS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"75472\" 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\/2023\/01\/05\/75472\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-75472\" class=\"content-area-description single-story post-75472 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>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>12 January (Thursday): Business Transition to Net-Zero \u2013 the Path Towards a Successful Low-Carbon Future Forum, Bahrain.<\/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>14-15 (Saturday-Sunday): <a href=\"https:\/\/www.atlanticcouncil.org\/programs\/global-energy-center\/global-energy-forum\/\">Global Energy Forum<\/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>22-24 January (Sunday-Tuesday): <a href=\"https:\/\/europetro.com\/esfmena\">ESF MENA 2023<\/a> - Energy and Sustainability Forum, Manama, Bahrain.<\/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>4-9 February (Saturday- Wednesday)<a href=\"https:\/\/iaee2023.saudi-aee.sa\/\">International Association for Energy Economics\u2019 International Conference<\/a>, King Abdullah Petroleum Studies and Research Center, Riyadh, Saudi Arabia.<\/p>\n<p>13-15 February (Monday-Wednesday): <a href=\"https:\/\/www.google.com\/aclk?sa=l&ai=DChcSEwi57sHU9IL8AhXT4VEKHZgYCTAYABAAGgJ3cw&sig=AOD64_3DcfDWXN3u_BifQPcUCEg-jnP1xA&q&adurl&ved=2ahUKEwin87nU9IL8AhWlxYUKHaADC0cQ0Qx6BAgJEAE\">The Egypt Petroleum Show<\/a> (EGYPS) 2023, Cairo, Egypt.<\/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>MAY 2023<\/strong><\/p>\n<p>1-4 May (Monday-Thursday): Arabian Travel Market, Dubai World Trade Centre, Dubai, UAE. Register <a href=\"https:\/\/www.wtm.com\/atm\/en-gb.html\">here<\/a>.<\/p>\n<p>29-31 May (Monday-Wednesday): <a href=\"https:\/\/www.evinnovationsummit.com\">Electric Vehicle Innovation Summit<\/a>, Abu Dhabi National Exhibition Centre, Abu Dhabi, UAE.<\/p>\n<p><strong>JUNE 2023<\/strong><\/p>\n<p><a href=\"https:\/\/www.bloombergneweconomy.com\/news\/bloomberg-announces-inaugural-new-economy-gateway-africa-in-morocco\/\">Bloomberg New Economy Gateway Africa Conference<\/a>, Marrakesh, Morocco.<\/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":75455,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-75454","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"6d394bb7-27f8-428b-842e-d9dfbdc82b9d","teaser":"","photo_url":"https:\/\/ent.news\/2021\/10\/269.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 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