{"id":78189,"date":"2023-06-26T01:00:25","date_gmt":"2023-06-26T01:00:25","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=78189"},"modified":"2025-12-15T09:09:59","modified_gmt":"2025-12-15T09:09:59","slug":"paris-financing-summit-ends-with-mixed-results","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/paris-financing-summit-ends-with-mixed-results\/","title":{"rendered":"Paris financing summit ends with mixed results"},"content":{"rendered":"<section id=\"78191\" 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=\"78191\">\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\/06\/26\/today-paris-summit-ends-with-mixed-results-european-banks-are-looking-at-climate-related-liquidity-risks\/\">\r\n                            TODAY: Paris summit ends with mixed results + European banks are looking at climate-related liquidity risks                        <\/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\/06\/26\/today-paris-summit-ends-with-mixed-results-european-banks-are-looking-at-climate-related-liquidity-risks\/\" 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\u2019ll be back in your inbox at the usual time on Tuesday, 4 July.<\/p>\n<p><strong>THE BIG CLIMATE STORY- <\/strong>The Summit for a New Global Financing Pact in Paris ended without an agreement to provide much-needed relief for poorer debt-distressed countries ahead of climate talks at COP28 later this year.<\/p>\n<hr class=\"grey-line\">\n<p><strong>THE BIG CLIMATE STORY OUTSIDE THE REGION- There\u2019s no single climate story<\/strong><strong> dominating international headlines this morning<\/strong>, but a climate-focused summit in Paris continued to get coverage by international press over the weekend as they highlighted a growing momentum over climate finance yet a shortfall in providing a much-needed lifeline for debt-distressed nations as the summit concluded.<\/p>\n<p><strong>The summit got coverage over the weekend from<\/strong>: <a href=\"https:\/\/www.reuters.com\/sustainability\/sustainable-finance-reporting\/frances-macron-says-leaders-finalised-accord-100-bln-climate-finance-2023-06-23\/\">Reuters<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-06-23\/paris-climate-finance-summit-five-key-takeaways\">Bloomberg<\/a> | <a href=\"https:\/\/apnews.com\/article\/climate-finance-paris-summit-poverty-united-nations-31fe5a3f7c184bb95759f1338c33bca8\">The Associated Press<\/a> | <a href=\"https:\/\/www.france24.com\/en\/live-news\/20230623-climate-finance-summit-wraps-up-eyeing-bigger-progress-1\">AFP<\/a> | <a href=\"https:\/\/www.nytimes.com\/2023\/06\/22\/world\/europe\/paris-climate-economy-conference.html\">The New York Times<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/widening-wealth-gap-drives-talks-for-green-finance-pact-at-paris-summit-ac69b468\">The Wall Street Journal<\/a> | <a href=\"https:\/\/www.ft.com\/content\/0a87938f-67b7-4abf-a485-8a2de3d99b76\">The Financial Times<\/a><\/p>\n<p><strong>^^ We have the details on this story and more in the news well, below.<\/strong><\/p>\n<hr class=\"grey-line\">\n<p class='web-image'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/6\/1373.jpg?ssl=1\" alt='enterprise'><\/p>\n<p><strong>The Enterprise Finance Forum is our flagship gathering \u2014 the one so many of you have <\/strong><strong>been waiting for. <\/strong>The two-day event takes place this September and will be the latest in our must-attend series of invitation-only, C-suite-level gatherings. Stay tuned for more information on the location.<\/p>\n<p><strong>TAP OR CLICK <\/strong><strong><a href=\"https:\/\/finance.enterprise.news\/\">HERE<\/a><\/strong><strong> if you want to express interest in attending. <\/strong>We\u2019ll be sending out the first batch of invitations just after the 30 June holiday.<\/p>\n<p><strong>Do you want to become a commercial partner? <\/strong>Please click <a href=\"https:\/\/finance.enterprise.news\/sponsor.html\">here<\/a>.<\/p>\n<p><strong>STAY TUNED for more detail <\/strong>about our exciting agenda in the weeks to come.<\/p>\n<hr class=\"grey-line\">\n<p><strong>OVER IN COPLAND- The United Arab Emirates University (UAEU) unveiled its COP28<\/strong><strong> roadmap last week<\/strong>, <a href=\"https:\/\/wam.ae\/en\/details\/1395303172322\">Wam<\/a> reports. The action plan supports initiatives related to clean energy, waste management, and natural resource repurposing under the themes of research and innovation, youth empowerment, and local and international partnerships. UAEU\u2019s strategy includes interactive student activities such as debates on climate action, technical marathons on the use of artificial intelligence on the environmental sustainability front, and a graphic design contest tackling climate awareness, the news agency quotes UAEU\u2019s Associate Provost for Scientific Research Ahmed Murad as saying.<\/p>\n<p><strong>WATCH THIS SPACE #1-<\/strong> <strong>Jordan will announce its green hydrogen strategy next quarter<\/strong>, Assistant Secretary-General of the Energy and Mineral Resources Ministry Hassan Al-Hayari said, <a href=\"https:\/\/bit.ly\/3Npshhg\">Addustour<\/a> reported on Friday. The strategy aims to turn the kingdom into a competitive hub for low-carbon hydrogen production, Al Hayari said. The ministry is currently <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/44bba0d7-5cd1-4b01-be83-2b2326319694\">holding workshops<\/a> where the outcomes of the discussions will be used as the foundation for the hydrogen framework.<\/p>\n<p><strong>REMEMBER-<\/strong> Jordan is joining a list of countries in the region that have been working on <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/c94df3a0-5ef1-4a70-8800-38948f92fa8e\">launching their own national hydrogen strategies<\/a>. To date, Oman is the only country to have released its strategy, while Morocco and the UAE have released a hydrogen roadmap.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>WATCH THIS SPACE #2- European banks are weighing liquidity risks to account for the<\/strong><strong> consequences of a hotter planet<\/strong>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-06-21\/eu-banks-expand-risk-scenarios-they-face-due-to-climate-change\">Bloomberg<\/a> reported on Thursday, citing a joint analysis by the Association for Financial Markets in Europe (AFME) and independent consultancy Oliver Wyman. The survey showed that 87% of the banks polled have begun carrying out their own annual internal stress tests. The results showed that banks are concerned about climate change undermining asset values, with the biggest concern being credit risk, especially for banks that are open to the fossil fuel sector and with those with sizable mortgage books. Some lenders are trying to outline how they\u2019d cope in scenarios where the fossil-fuel sector loses value. Other concerns include business liquidity and interest-rate risks in the banking book, with one-third of the banks surveyed having already modeled these risks, according to the survey.<\/p>\n<p><strong>WATCH THIS SPACE #3- Global carbon pricing in sight? <\/strong>The world should examine ways to introduce global carbon pricing in order to advance the transition to a lower-carbon economy, European Commission President Ursula von der Leyen said, <a href=\"https:\/\/www.reuters.com\/sustainability\/climate-energy\/eus-von-der-leyen-urges-world-examine-global-carbon-pricing-2023-06-22\/\">Reuters<\/a> reported on Thursday. She said at the Summit for a New Global Financing Pact in Paris that the world needs to diversify greenhouse gas emissions that are covered by a carbon price, describing the percentage of emissions currently covered as \u201calmost nothing.\u201d<\/p>\n<p><strong>WATCH THIS SPACE #4- Egypt is getting a new hydrogen processing unit:<\/strong> A consortium of industrial gas producer Gulf Cryo and Emex for Engineering and Construction will establish a unit to process hydrogen gas for various uses in Egypt, and market and sell it under an agreement with the state-owned Egyptian Chemical Industries (Kima), according to a <a href=\"https:\/\/tinyurl.com\/44shceue\">statement<\/a>.The unit will be established within a Kima factory in Alexandria, with Kima committed to supplying hydrogen gas to the alliance of the two companies, the statement reads, without providing further details about the size and timeline of the potential investment.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>WATCH THIS SPACE #5- ReNew Power to resume negotiations on USD 8 bn green hydrogen plant in <\/strong><strong>Egypt: <\/strong>A delegation from India\u2019s largest renewables developer ReNew Power will visit Egypt next month to resume talks with the government on their planned <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/1f8d7402-6d05-4eae-b3b0-b5bb811be7ab\">USD 8 bn<\/a> green hydrogen plant in Egypt\u2019s Ain Al Sokhna, a cabinet <a href=\"https:\/\/cabinet.gov.eg\/News\/Details\/63839#:~:text=%D8%A7%D9%87%D8%AA%D9%85%D8%A7%D9%85%20%D9%87%D9%86%D8%AF%D9%8A%20%D9%84%D8%A5%D9%82%D8%A7%D9%85%D8%A9%20%D9%85%D8%B4%D8%B1%D9%88%D8%B9%D8%A7%D8%AA%20%D9%85%D8%AD%D8%B7%D8%A7%D8%AA,%D8%A7%D9%84%D8%B3%D8%AE%D9%86%D8%A9%20%D9%88%D9%85%D8%B5%D8%B1%20%D8%B3%D9%88%D9%82%20%D9%88%D8%A7%D8%B9%D8%AF%20%D9%83%D8%A8%D9%8A%D8%B1\">statement<\/a> notes. ReNew Power and Elsewedy Electric signed an agreement for the project back in November. ReNew said at the time that it would undertake further studies and make a final investment decision by 1Q 2024. If the project moves forward, the company expects to begin commissioning the pilot phase in 2026.<\/p>\n<p><strong>The project:<\/strong> ReNew and Elsewedy will set up renewables projects generating 570 MW to produce 20k tons of green hydrogen during the pilot phase of the project, the statement said. The green hydrogen would then be converted to 100k tons of green ammonia. The second phase will see the companies build renewable energy projects yielding 5.68 GW to produce 200k tons of green hydrogen, which would then be converted to 1 mn tons of green ammonia.<\/p>\n<p><strong>The Church of England\u2019s Pension Board (CofE) is divesting from several oil companies<\/strong> <strong>as part of its plans to fully exit the fossil fuel sector<\/strong>, according to <a href=\"https:\/\/www.churchofengland.org\/media-and-news\/press-releases\/church-commissioners-england-exclude-oil-and-gas-companies-over\">a statement<\/a>. The CofE \u2014 which in May <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/92f0d10b-8f32-4fdc-9bd4-98913c05514b\">said<\/a> it would vote to oust Shell\u2019s Chairman Andrew Mackenzie and the remainder of the oil giant\u2019s board over climate concerns \u2014 says its exit from Shell and other oil and gas firms stems from big oil\u2019s lack of \u201csufficient ambition to decarbonize in line with the aims of the Paris Agreement,\u201d CofE CEO John Ball said in an emailed statement cited by <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-06-22\/church-of-england-pensions-board-to-exit-shell-on-esg-concerns\">Bloomberg<\/a>. Shell <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/44bba0d7-5cd1-4b01-be83-2b2326319694\">has shelved<\/a> plans to pare back oil production, saying earlier this month it would keep oil output steady until 2030.<\/p>\n<hr class=\"grey-line\">\n<p><strong>DATA POINT #1- Emerging markets must triple clean energy financing to meet <\/strong><strong>climate goals: <\/strong>Emerging and developing countries need to more than triple their annual clean energy investments to c. USD 2.8 tn from the current USD 770 bn, according to a <a href=\"https:\/\/iea.blob.core.windows.net\/assets\/a48fd497-d479-4d21-8d76-10619ce0a982\/ScalingupPrivateFinanceforCleanEnergyinEmergingandDevelopingEconomies.pdf\">new report (pdf)<\/a> by the International Energy Agency (IEA) and International Finance Corporation (IFC). The ramped up investments are necessary to help developing economies meet growing energy needs and correspond with climate goals set forth in the Paris Agreement, it said.<\/p>\n<p><strong>Public financing alone won\u2019t be enough to unlock energy access and fight climate<\/strong><strong> change<\/strong>, the report said, underlining the need for blended financing between public and private financing is necessary to lower project risks. The private sector\u2019s role is crucial; two-thirds of the finance for clean energy projects in such economies outside China need to come from the private sector. Private sector financing should rise to c. USD 1.1 tn annually within the next decade from the current USD 135 bn annually, it added.<\/p>\n<p><strong>More is needed for newer technologies:<\/strong> The report highlights the urgency of concessional financing for projects that include newer technologies that are not yet cost-competitive in most markets, including renewable-powered desalination or low-emissions hydrogen, battery storage, and offshore wind. Some USD 80-100 bn in annual concessional financing is necessary by the early 2030s to help lure in private investment for energy transition in such economies.<\/p>\n<p><strong>DATA POINT #2- More must be done to meet renewable energy targets:<\/strong> Annual renewable power must triple by 2030 to keep the 1.5\u00b0C global warming goal alive, according to a recent <a href=\"https:\/\/mc-cd8320d4-36a1-40ac-83cc-3389-cdn-endpoint.azureedge.net\/-\/media\/Files\/IRENA\/Agency\/Publication\/2023\/Jun\/IRENA_World_energy_transitions_outlook_v_1_2023.pdf?rev=b1d4be858ad549a9a750921d0f2b5d53\">report (pdf)<\/a> by IRENA. In its World Energy Transitions Outlook 2023, IRENA said the world needs to add an average of 1k GW of renewable power capacity \u2014 more than three times the capacity added in 2022 \u2014 annually by 2030. The world must also significantly boost the direct use of renewables in end-use sectors, the report stressed.<\/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>***<\/p>\n<p><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 by 5am Cairo \/ 5am Riyadh \/ 6am UAE.<\/p>\n<p><strong>EXPLORE MORE OF ENTERPRISE ON THE WEB \u2014<\/strong> <a href=\"http:\/\/www.enterprise.news\">tap or click here<\/a> to read EnterpriseAM, EnterprisePM, and The Weekend Edition on our powerful new website packed with reader-friendly features.<\/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.<br \/>\n <strong>***<\/strong><\/p>\n<hr class=\"grey-line\">\n<p><strong>CIRCLE YOUR CALENDAR- <\/strong><\/p>\n<p><strong>Thailand will host the <\/strong><strong><a href=\"https:\/\/unfccc.int\/event\/LD_wksp2\">second workshop on addressing loss and damage<\/a><\/strong><strong> from 15-16 July<\/strong> in Bangkok. The workshop will see discussions on pathways to increasing funding for climate-induced loss and damage. The workshop is being held in preparation for the <a href=\"https:\/\/unfccc.int\/event\/tc3\">third meeting of the COP27 Transitional Committee<\/a> in August. The committee is tasked with operationalizing the Loss and Damage Fund, to be approved during the fourth transitional meeting in <a href=\"https:\/\/ent.news\/2023\/4\/1066.pdf\">October<\/a>.<\/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 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\/carbon-markets\/\">carbon markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/cop28\/\">COP28<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            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class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">CLIMATE POLICY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/06\/26\/paris-summit-concludes-with-some-progress-yet-fails-to-provide-lifeline-for-debt-distressed-nations\/\">\r\n                            Paris summit concludes with some progress, yet fails to provide lifeline for debt-distressed nations                        <\/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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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/6\/1424.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1424.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/6\/1424.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/6\/1424.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78194\" class=\"content-area-description single-story post-78194 post type-post status-publish format-standard has-post-thumbnail hentry category-climate-policy tag-climate-change tag-climate-policy tag-debt tag-enterpriseclimate tag-imf tag-new-global-financing-pact tag-world-bank wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>A lifeline lost for debt distressed nations:<\/strong> A Paris summit last week meant to address global finance sealed some notable victories, but came to a close without securing much-needed relief for poorer debt-distressed countries ahead of climate talks at COP28 later this year. The Summit for a New Global Financing Pact saw 40 world leaders convene in Paris to discuss achieving a more balanced financial partnership between the global North and South amid the climate crisis and developmental challenges.<\/p>\n<p><strong>The gains: <\/strong>A long-delayed target of USD 100 bn in climate finance annually for vulnerable nations is on track to be achieved, <a href=\"https:\/\/www.reuters.com\/business\/finance\/paris-climate-summit-gives-fresh-impetus-development-bank-reform-2023-06-23\/\">Reuters<\/a> reported, citing the summit\u2019s final statement. These funds would come from rechanneled IMF special drawing rights (SDRs), IMF Managing Director Kristalina Georgieva said in a <a href=\"https:\/\/www.imf.org\/en\/News\/Articles\/2023\/06\/22\/sp062223-md-remarks-at-summit-for-new-global-financing-pact\">statement<\/a>. The SDR funds are separate from the USD 100 bn in climate finance promised to help poorer nations address the climate crisis and a landmark loss and damage fund agreed at COP27 in Egypt last year for disaster-hit nations.<\/p>\n<p><strong>Some firsts:<\/strong> The summit\u2019s final statement acknowledged for the first time the potential need for wealthy nations to provide fresh funds to multilateral development institutions like the World Bank, as well as to make use of more of the current assets, some USD 200 bn, over the next decade. \u201cWe ... expect an overall increase of [USD] 200 bn of MDBs\u2019 lending capacity over the next ten years by optimizing their balance sheets and taking more risks,\u201d the statement obtained by <a href=\"https:\/\/www.reuters.com\/sustainability\/sustainable-finance-reporting\/development-banks-can-boost-lending-by-200-bln-paris-summit-statement-2023-06-23\/\">Reuters<\/a> said.<\/p>\n<p><strong>AND- Countries hit by climate disasters can now pause repayments on their loans to the<\/strong><strong> World Bank<\/strong>, according to a bank <a href=\"https:\/\/www.worldbank.org\/en\/news\/factsheet\/2023\/06\/22\/comprehensive-toolkit-to-support-countries-after-natural-disasters\">statement<\/a>. The new measure came as a result of a <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/2b42c6f9-fd08-4890-9d03-c6e4ccee0eea\">campaign<\/a> led by Barbados Prime Minister and climate champion Mia Mottley. The multilateral lender will also allow countries to \u201cquickly redirect\u201d a portion of their funds to emergency response in the event of a crisis, and will work with the private sector to offer new insurance products for development projects. The Washington-based lender will introduce new crisis debt clauses for new loans to the most vulnerable nations.<\/p>\n<p><strong>African countries are also getting some climate financing:<\/strong> A long-delayed debt agreement was also reached for Zambia, according to a separate World Bank <a href=\"https:\/\/www.worldbank.org\/en\/news\/statement\/2023\/06\/22\/world-bank-group-statement-on-official-creditors-committee-agreement-on-zambia-debt\">statement<\/a>. Senegal\u2019s renewable energy capacity will also be getting a boost through a EUR 2.5 bn in new and additional financing under the Senegal Just Energy Transition Partnership (JETP) over three to five years, according to a <a href=\"https:\/\/ec.europa.eu\/commission\/presscorner\/detail\/en\/ip_23_3448\">statement<\/a> by the European Commission.<\/p>\n<p><strong>And some taxation in sight? <\/strong>A reference was made to determining \u201cnew avenues for international taxation,\u201d referring to a <a href=\"http:\/\/climate.enterprise.press\/stories\/2023\/06\/12\/its-time-for-the-tax-free-shipping-industry-to-pay-for-their-emissions-101582\/\">global levy<\/a> for the shipping industry\u2019s carbon emissions and other Bridgetown Initiative requests. \u201cThat was widely discussed here and (there's) lots of support behind an initiative that's happening outside of Paris, at the International Maritime Organisation (IMO) in a couple weeks\u2019 time, on a levy on shipping emissions,\u201d Barbados\u2019 special envoy on climate finance Avinash Persaud told <a href=\"https:\/\/www.reuters.com\/business\/finance\/paris-climate-summit-gives-fresh-impetus-development-bank-reform-2023-06-23\/\">Reuters<\/a>. French President Emmanuel Macron stressed the necessity for a global levy on shipping and aviation to help fund climate action, according to <a href=\"https:\/\/www.theguardian.com\/world\/2023\/jun\/23\/paris-climate-finance-summit-fails-to-deliver-debt-forgiveness-plan\">The Guardian<\/a>. The IMO is set to meet next week for talks on the levy.<\/p>\n<p><strong>There are still bones to pick:<\/strong> Some argued that the Paris summit has failed to deliver for most debt-distressed nations amid rising interest rates and a strong USD, according to <a href=\"https:\/\/www.theguardian.com\/world\/2023\/jun\/23\/paris-climate-finance-summit-fails-to-deliver-debt-forgiveness-plan\">The Guardian<\/a>. \u201cIt\u2019s a disappointment. The summit did not go far enough to deliver for the people who bear the brunt of climate impacts,\u201d said Walter Mawere, an advocacy coordinator for Care International in Somalia. The fact that the new funding pledges were actually made in the form of loans or temporary debt relief instead of grants was also criticized. \u201cUnfortunately, the Paris Summit has not provided the breakthrough needed to find the funding for our planet's survival,\u201d Teresa Anderson, Global Lead on Climate Justice for ActionAid International, said in statements to <a href=\"https:\/\/www.reuters.com\/business\/finance\/paris-climate-summit-gives-fresh-impetus-development-bank-reform-2023-06-23\/\">Reuters<\/a>.<\/p>\n<p><strong>ALSO FROM THE SUMMIT-<\/strong> COP28 President-Designate Sultan Al Jaber stressed <a href=\"https:\/\/twitter.com\/COP28_UAE\/status\/1672187051096014849?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1672187051096014849%7Ctwgr%5E924039e6178081dd0d20bcce1c035a71e55c73d0%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fpublish.twitter.com%2F%3Fquery%3Dhttps3A2F2Ftwitter.com2FCOP28_UAE2Fstatus2F1672187051096014849widget%3DTweet\">in a speech<\/a> at the closing ceremony of the summit the necessity of scaling up concessional funding to help make climate finance more accessible and affordable. He <a href=\"https:\/\/twitter.com\/COP28_UAE\/status\/1672255364060905473\">also called for<\/a> the integration of sustainable investing principles into mainstream finance to help give momentum towards a new climate-ready financial system. Al Jaber also held meetings with Macron, Mottley, Brazil\u2019s Luiz In\u00e1cio Lula da Silva, and UN Secretary-General Antonio Guterres to discuss climate finance reforms, according to <a href=\"https:\/\/wam.ae\/en\/details\/1395303172385\">Wam<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-policy\/\">CLIMATE POLICY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/new-global-financing-pact\/\">New Global Financing Pact<\/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=\"78196\" 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=\"78196\">\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\">INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/06\/26\/morocco-holland-set-up-eur-300-mn-investment-fund-for-infrastructure-renewables-projects\/\">\r\n                            Morocco, Holland set up EUR 300 mn investment fund for infrastructure + 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\" 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\/06\/26\/morocco-holland-set-up-eur-300-mn-investment-fund-for-infrastructure-renewables-projects\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The fund is part of one of the two MoUs signed between the two nations to bolster cooperation in sustainable development, public infrastructure, and energy transition, Maghreb Arabe Press (<a href=\"https:\/\/www.mapnews.ma\/en\/actualites\/economy\/public-infrastructure-renewable-energy-morocco-netherlands-join-forces\">MAP<\/a>) reported on Wednesday. The agreement was signed in Sal\u00e9 during Dutch Prime Minister Mark Rutte\u2019s <a href=\"http:\/\/climate.enterprise.press\/stories\/2023\/06\/21\/morocco-the-netherlands-strengthening-renewables-cooperation-101693\/\">visit to Morocco<\/a> to bolster bilateral ties.<\/p>\n<p><strong>About the fund:<\/strong> Some 35% of the fund will be in the form of grants, while the remainder will be loans, said Alexandre Wortman, who is in charge of Dutch investment fund <a href=\"https:\/\/investinternational.nl\/\">Invest International<\/a>. Wortman said the fund will finance water and renewable energy projects over a span of three years, and he highlighted his country\u2019s interest in investing in Morocco\u2019s green hydrogen. He signaled a possibility of additional allocations depending on project evaluations.<\/p>\n<p><strong>There was more cooperation agreed between the two countries:<\/strong> Morocco and Invest International also agreed to boost cooperation in water and infrastructure, agriculture, renewable energies, sustainable industry, and health, according to MAP. The second MoU, which was signed by the Dutch PM and Morocco\u2019s Energy Transition and Sustainable Development Minister Leila Benali, aims to develop cooperation in renewable energies and new fuels.<\/p>\n<p><strong>And more:<\/strong> The second MoU would back existing and future international initiatives and alliances related to renewable energies and new fuels, as well as expedite the matching of supply and demand with regards to investment and trade between producers of new renewable fuels and buyers, according to MAP. It also aims to develop new clean energy sources, especially offshore wind power, and new uses of renewable energy sources like seawater desalination.<\/p>\n<p><strong>REMEMBER-<\/strong> Morocco has been pushing to position itself as a hub for renewable energy due to its major solar and wind capabilities. Morocco aims to have 50-52% of its energy come from renewables by 2030, up from the current 38%, the Moroccon PM said <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a966a586-541d-42ac-9d15-1d4a53fa3f75\">earlier this year<\/a>. Meanwhile, the Netherlands has been on a renewables hunt, signing an agreement with Saudi Arabia <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/32eeb75a-1bc1-4e5d-ae84-61a44c152126\">in May<\/a> that will see Saudi Arabia establish a green hydrogen corridor to Europe with the Netherlands facilitating the entry of green fuels produced in the kingdom.<\/p>\n<p><strong>Speaking of renewables: <\/strong>Morocco plans to raise overall energy production from renewables to 1.3 GW annually until 2027, up from 0.16 GW generated annually between 2009 and 2022, <a href=\"https:\/\/snrtnews.com\/article\/77689\">SNRT News<\/a> quotes Benali as saying at the House of Representatives. Appropriations for renewable energy projects will be more than tripled to reach MAD 14 bn (c. USD 1.4 bn) between 2023-2027, up from MAD 4 bn during 2009 to 2022, according to the minister.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/desalination\/\">DESALINATION<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/mark-rutte\/\">Mark Rutte<\/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\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/solar\/\">SOLAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/the-netherlands\/\">the Netherlands<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/wind-energy\/\">Wind Energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"78198\" 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                            \"\r\n            id=\"78198\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/06\/26\/78198\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78198\" class=\"content-area-description single-story post-78198 post type-post status-publish format-standard hentry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/weareiph.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1828.jpg?ssl=1\" alt='enterprise'><\/a><\/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<section id=\"78199\" 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=\"78199\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/06\/26\/egypts-next-sovereign-green-bond-sale-may-see-aiib-as-its-guarantor\/\">\r\n                            Egypt\u2019s next sovereign green bond sale may see AIIB as its guarantor                        <\/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\/06\/26\/egypts-next-sovereign-green-bond-sale-may-see-aiib-as-its-guarantor\/\" 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\/06\/26\/egypts-next-sovereign-green-bond-sale-may-see-aiib-as-its-guarantor\/')\">\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\/06\/26\/egypts-next-sovereign-green-bond-sale-may-see-aiib-as-its-guarantor\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt\u2019s next sovereign green bond sale may see AIIB as its guarantor&url=https:\/\/enterpriseam.com\/climate\/2023\/06\/26\/egypts-next-sovereign-green-bond-sale-may-see-aiib-as-its-guarantor\/\">\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\/06\/26\/egypts-next-sovereign-green-bond-sale-may-see-aiib-as-its-guarantor\/&title=Egypt\u2019s next sovereign green bond sale may see AIIB as its guarantor\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt%E2%80%99s+next+sovereign+green+bond+sale+may+see+AIIB+as+its+guarantor+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F06%2F26%2Fegypts-next-sovereign-green-bond-sale-may-see-aiib-as-its-guarantor%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\/06\/26\/egypts-next-sovereign-green-bond-sale-may-see-aiib-as-its-guarantor\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/591.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78200\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/06\/26\/egypts-next-sovereign-green-bond-sale-may-see-aiib-as-its-guarantor\/591-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/591.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"591.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/591.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/591.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78199\" class=\"content-area-description single-story post-78199 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-asian-infrastructure-investment-bank tag-debt-watch tag-egypt tag-enterpriseclimate tag-green-economy 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>AIIB may back Egypt\u2019s upcoming second sovereign green bond sale:<\/strong> Egypt\u2019s government is reportedly in talks with the Asian Infrastructure Investment Bank (AIIB) to guarantee an upcoming green bond issuance, AIIB President and Chairman Jin Liqun is quoted as telling <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-06-22\/egypt-climate-bond-may-receive-vital-guarantee-from-asian-bank\">Bloomberg<\/a> on the sidelines of the Summit for a New Global Financing Pact in Paris on Thursday. The guarantee will be \u201cthe first such backstop it has ever issued,\u201d according to Jin, who did not disclose any information about the size, timeline, or currency denomination of the bond sale or what portion would potentially be guaranteed by AIIB.<\/p>\n<p><strong>SOUND SMART-<\/strong> Guaranteed instruments issued by development banks provide a <a href=\"https:\/\/www.investopedia.com\/terms\/f\/financial-guarantee.asp#:~:text=A%20financial%20guarantee%20is%20an,its%20payments%20to%20the%20creditor.\">safety net<\/a> for investors by guaranteeing a debt will be repaid to a lender by a third party in the case the borrower defaults.<\/p>\n<p><strong>The agreement would expand accessibility + affordability for Egypt\u2019s climate projects:<\/strong> The guarantee would give Egypt easier access to capital markets at low borrowing costs and allow access to finance for wind farms and other climate projects, Jin said, adding that this will be the first time the AIIB will act as a guarantor for this kind of bond.<\/p>\n<p><strong>AIIB\u2019s move follows those of its peers:<\/strong> The Inter-American Development Bank recently guaranteed repayment of loans in debt-for-nature swaps in <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/2889f15a-a842-473c-9569-d33c1f9bddce\">Ecuador<\/a> and Barbados, which Jin notes is a \u201cvery interesting\u201d tool that his bank may consider in the future. The UK has provided a <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/642fb753-d523-4793-a84c-f19144081957\">guarantee of EUR 80 mn<\/a> to the AfDB to support phase 3 of Egypt\u2019s El Gabal El Asfar water treatment plant.<\/p>\n<p><strong>When we know about the issuance so far:<\/strong> Egyptian Finance Minister Mohamed Maait said in September that the government is looking at the possibility of issuing a green eurobond \u201csoon,\u201d depending on market conditions. The country\u2019s Finance Ministry <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/11eb3081-75f6-433f-b7b0-62d2c029fe7a\">signaled<\/a> in 2022 that it is looking to take a USD 750 mn green bond issuance to market, matching Egypt and the Middle East\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5d1b54d5-5efa-41c9-ac8b-728b105b2ef0\">first sovereign green bond issuance<\/a> in 2020.<\/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\/asian-infrastructure-investment-bank\/\">Asian Infrastructure Investment Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/debt-watch\/\">DEBT WATCH<\/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-economy\/\">Green Economy<\/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=\"78201\" 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=\"78201\">\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\">CLIMATE FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/06\/26\/world-bank-lends-tunisia-usd-268-mn-for-its-planned-interconnector-with-italy\/\">\r\n                            World Bank lends Tunisia USD 268 mn for its planned interconnector with Italy                        <\/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\/06\/26\/world-bank-lends-tunisia-usd-268-mn-for-its-planned-interconnector-with-italy\/\" 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\/06\/26\/world-bank-lends-tunisia-usd-268-mn-for-its-planned-interconnector-with-italy\/')\">\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\/06\/26\/world-bank-lends-tunisia-usd-268-mn-for-its-planned-interconnector-with-italy\/\">\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=World Bank lends Tunisia USD 268 mn for its planned interconnector with Italy&url=https:\/\/enterpriseam.com\/climate\/2023\/06\/26\/world-bank-lends-tunisia-usd-268-mn-for-its-planned-interconnector-with-italy\/\">\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\/06\/26\/world-bank-lends-tunisia-usd-268-mn-for-its-planned-interconnector-with-italy\/&title=World Bank lends Tunisia USD 268 mn for its planned interconnector with Italy\">\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=World+Bank+lends+Tunisia+USD+268+mn+for+its+planned+interconnector+with+Italy+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F06%2F26%2Fworld-bank-lends-tunisia-usd-268-mn-for-its-planned-interconnector-with-italy%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\/06\/26\/world-bank-lends-tunisia-usd-268-mn-for-its-planned-interconnector-with-italy\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/World-Bank-1600.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78202\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/06\/26\/world-bank-lends-tunisia-usd-268-mn-for-its-planned-interconnector-with-italy\/world-bank-1600-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/World-Bank-1600.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"World-Bank-1600.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/World-Bank-1600.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/World-Bank-1600.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78201\" class=\"content-area-description single-story post-78201 post type-post status-publish format-standard has-post-thumbnail hentry category-climate-finance tag-climate-finance tag-enterpriseclimate tag-green-finance tag-renewables tag-tunisia 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-04\"><\/a> <strong>World Bank approves USD 268 mn Tunisia-Italy interconnector: <\/strong>The World Bank Group (WBG) signed off on Wednesday on a USD 268.4 mn loan to Tunisia that will be used to finance its planned electrical interconnection project with Italy, the bank noted in a <a href=\"https:\/\/www.worldbank.org\/en\/news\/press-release\/2023\/06\/22\/world-bank-approves-268-million-project-linking-tunisia-s-energy-grids-with-europe\">statement<\/a>.<\/p>\n<p><strong>The project:<\/strong> Dubbed Elmed, the 600 MW subsea interconnector would link the Tunisian and EU power grids, enabling the trade in renewable energy between Tunisia and Europe, the statement said. The project is estimated to cost EUR 850 mn (c.USD 929 mn), according to <a href=\"https:\/\/www.reuters.com\/world\/africa\/world-bank-lends-tunisia-268-mln-power-line-with-italy-2023-06-22\/\">Reuters<\/a>. The project\u2019s launch date has not been revealed.<\/p>\n<p><strong>Where exactly is the money going? <\/strong>The funds will be used to build a main converter station and accompanying substations on the Tunisian side as well as support the implementation of the interconnector, the statement notes.<\/p>\n<p><strong>Who else is on board? <\/strong>The Elmed interconnector \u2014 which is set to receive an additional USD 25 mn in concessional loans from the Green Climate Fund \u2014 is backed by the European Union, the government of Italy, the German Development Bank KfW, the European Bank for Reconstruction and Development, and the European Investment Bank, according to World Bank statement.<\/p>\n<p><strong>Tunisia is also getting a renewables center of excellence courtesy of WBG:<\/strong> As part of its technical assistance package, the World Bank is also planning to set up a renewable energy center of excellence in Tunisia in a bid to position the country \u201cas a training hub for renewable energy projects in the North Africa region,\u201d the statement said.<\/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-finance\/\">climate finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-finance\/\">green finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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\/tunisia\/\">Tunisia<\/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=\"78203\" 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=\"78203\">\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\">GREEN HYDROGEN<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/06\/26\/omans-hydrom-awards-two-new-green-hydrogen-blocks\/\">\r\n                            Oman\u2019s Hydrom awards two new green hydrogen blocks                        <\/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\/06\/26\/omans-hydrom-awards-two-new-green-hydrogen-blocks\/\" 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\/06\/26\/omans-hydrom-awards-two-new-green-hydrogen-blocks\/')\">\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\/06\/26\/omans-hydrom-awards-two-new-green-hydrogen-blocks\/\">\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=Oman\u2019s Hydrom awards two new green hydrogen blocks&url=https:\/\/enterpriseam.com\/climate\/2023\/06\/26\/omans-hydrom-awards-two-new-green-hydrogen-blocks\/\">\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\/06\/26\/omans-hydrom-awards-two-new-green-hydrogen-blocks\/&title=Oman\u2019s Hydrom awards two new green hydrogen blocks\">\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=Oman%E2%80%99s+Hydrom+awards+two+new+green+hydrogen+blocks+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F06%2F26%2Fomans-hydrom-awards-two-new-green-hydrogen-blocks%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\/06\/26\/omans-hydrom-awards-two-new-green-hydrogen-blocks\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/780.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78204\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/06\/26\/omans-hydrom-awards-two-new-green-hydrogen-blocks\/780-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/780.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"780.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/780.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/780.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78203\" class=\"content-area-description single-story post-78203 post type-post status-publish format-standard has-post-thumbnail hentry category-green-hydrogen tag-engie tag-enterpriseclimate tag-green-hydrogen tag-hydrom tag-oman tag-solar-energy tag-wind-energy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Oman\u2019s state-owned hydrogen company Hydrom has awarded two green<\/strong><strong> hydrogen blocks that are expected to rake in investments exceeding USD 10 bn<\/strong>, the <a href=\"https:\/\/timesofoman.com\/article\/132527-hydrom-signs-two-agreements-awarding-green-hydrogen-projects-in-oman-announces-launch-of-round-2-public-auction\">Times of Oman<\/a> reported last week. A USD <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f13d49f5-621e-4fc7-84f9-c254d8a9b06f\">6.7 bn contract<\/a> was awarded to a consortium led by South Korea\u2019s steelmaking company Posco Group, and another was secured by the Hyport Coordination Company, which is a joint venture between DEME Concessions and OQ Alternative Energy. Both green hydrogen production facilities \u2014 to be powered by 6.5 GW of renewable energy \u2014 are expected to generate 250k tons annually once operational.<\/p>\n<p><strong>The Posco consortium: <\/strong>The consortium consists of Mescat Middle East DMCC, Samsung Engineering , Futuretech Energy Ventures, Korea East-West Power, and Korea Southern Power. Posco will hold a 28% stake in the group, while French energy firm Engie will hold a 25% stake, according to <a href=\"https:\/\/www.kedglobal.com\/hydrogen-economy\/newsView\/ked202306160032\">The Korea Economic Daily<\/a>. The remaining ownership will be divided among Korea East-West Power and Korea Southern Power with a 24% stake each, a 12% stake for Samsung Engineering, and the remaining 11% for Thai\u2019s PTT Exploration and Production company.<\/p>\n<p><strong>The project: <\/strong>The consortium will build the green hydrogen plant in the Port of Duqm and will power it with some 5 GW from wind and solar energy farms, the news outlet noted. The group aims to produce some 200k tons of green hydrogen by 2030. The hydrogen will be converted into ammonia as part of the consortium\u2019s export targets. The exact annual production capacity of the plant, and whether all the ammonia would be exported, was not disclosed.<\/p>\n<p><strong>Who\u2019s doing what:<\/strong> Posco Holdings, the group\u2019s investment arm, is set to lead the project and manage the plant-building processes in the country. Samsung\u2019s construction unit will be tasked with the engineering, procurement, and construction (EPC) of the facilities, while the other companies will either produce or sell the green hydrogen generated by the plant.<\/p>\n<p><strong>Hyport Coordination Company\u2019s project:<\/strong> Hyport\u2019s plant will be located in Duqm, Oman, and will be powered by 1.3 GW of renewable energy, the company <a href=\"https:\/\/www.deme-group.com\/news\/hyport-coordination-company-signs-second-land-reservation-agreement-green-hydrogen-and-ammonia\">notes<\/a>. Hyport will build a solar energy farm and a wind power plant to power its green hydrogen production facility, which will produce some 50k tons by 2029 in its first phase. The green hydrogen the company will produce will also be converted into ammonia then shipped to export markets, according to Hyport. A timeline on the project\u2019s expected launch date was not provided.<\/p>\n<p><strong>What\u2019s next:<\/strong> Hydrom kicked off bidding for its second round last week with the aim of awarding three green hydrogen blocks in the country\u2019s Dhofar region before the end of 1Q 2024, the Times of Oman noted. Meanwhile, the state-owned company is looking to finalize six green hydrogen agreements worth USD 20 bn before the end of the year, according to the news outlet. Hydrom had signed the binding term sheet agreements for green hydrogen projects back <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/40455595-d905-4d49-a583-ee97e18a20cb\">in March<\/a> with several regional and international developers.<\/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\/engie\/\">Engie<\/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\/hydrom\/\">Hydrom<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/oman\/\">Oman<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/wind-energy\/\">Wind Energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"78205\" 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=\"78205\">\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\">CLIMATE DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/06\/26\/ksa-south-korea-talk-green-hydrogen-sign-ev-charging-agreement\/\">\r\n                            KSA + South Korea talk green hydrogen + sign EV charging agreement                        <\/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\/06\/26\/ksa-south-korea-talk-green-hydrogen-sign-ev-charging-agreement\/\" 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\/06\/26\/ksa-south-korea-talk-green-hydrogen-sign-ev-charging-agreement\/')\">\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\/06\/26\/ksa-south-korea-talk-green-hydrogen-sign-ev-charging-agreement\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=KSA + South Korea talk green hydrogen + sign EV charging agreement&url=https:\/\/enterpriseam.com\/climate\/2023\/06\/26\/ksa-south-korea-talk-green-hydrogen-sign-ev-charging-agreement\/\">\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\/06\/26\/ksa-south-korea-talk-green-hydrogen-sign-ev-charging-agreement\/&title=KSA + South Korea talk green hydrogen + sign EV charging agreement\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=KSA+%2B+South+Korea+talk+green+hydrogen+%2B+sign+EV+charging+agreement+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F06%2F26%2Fksa-south-korea-talk-green-hydrogen-sign-ev-charging-agreement%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\/06\/26\/ksa-south-korea-talk-green-hydrogen-sign-ev-charging-agreement\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/6\/1425.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78206\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/06\/26\/ksa-south-korea-talk-green-hydrogen-sign-ev-charging-agreement\/1425-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/6\/1425.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1425.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/6\/1425.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/6\/1425.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78205\" class=\"content-area-description single-story post-78205 post type-post status-publish format-standard has-post-thumbnail hentry category-climate-diplomacy tag-climate-diplomacy tag-egypt tag-enterpriseclimate tag-evs tag-green-finance tag-green-hydrogen tag-oman tag-opec-fund tag-renewables tag-south-korea wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Saudi Arabia + South Korea discuss green hydrogen cooperation:<\/strong> Saudi Arabia\u2019s Energy Minister Abdulaziz bin Salman met with South Korea\u2019s Land, Infrastructure, and Transport Minister Won Hee-ryong to discuss cooperation in green hydrogen production and export to South Korea, the <a href=\"https:\/\/sp.spa.gov.sa\/viewstory.php?lang=ar&newsid=2464677\">Saudi Press Agency<\/a> reported on Thursday. The two sides also touched on the use of artificial intelligence in the energy sector, and suggested exploring practical agendas for the development of green hydrogen projects in joint workshops with the private sector\u2019s participation.<\/p>\n<p><strong>ALSO- <\/strong>South Korea and Saudi Arabia EV charging companies Chaevi and Eshhen signed an MoU to supply more than 500 of Chaevi\u2019s fast and ultra-fast charging devices to the kingdom, <a href=\"https:\/\/attaqa.net\/2023\/06\/23\/%d8%b4%d8%ad%d9%86-%d8%a7%d9%84%d8%b3%d9%8a%d8%a7%d8%b1%d8%a7%d8%aa-%d8%a7%d9%84%d9%83%d9%87%d8%b1%d8%a8%d8%a7%d8%a6%d9%8a%d8%a9-%d9%88%d8%a7%d9%84%d9%87%d9%8a%d8%af%d8%b1%d9%88%d8%ac%d9%8a%d9%86\/\">Attaqa<\/a> reported on Friday.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>Egypt\u2019s International Cooperation Minister <\/strong>Rania Al Mashat met with the <strong>OPEC Fund\u2019s Director-General <\/strong>Abdulhamid Alkhalifa last week to discuss <strong>increasing support for the country's <\/strong><strong><a href=\"https:\/\/enterprise.press\/stories\/2022\/11\/29\/this-morning-one-week-to-go-until-the-enterprise-climate-x-forum-more-friendly-winks-from-turkey-89425\/\">Nexus on Water, Food, and Energy<\/a><\/strong> program, according to a cabinet <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0o75B4AwwvDFy3CcQvgFt3M6vvwzzhb4geKZbbuGiQgimBfehpe5oJbTZ2RzHNdsPl\">statement<\/a>. The program focuses on securing climate finance to some of Egypt\u2019s most important green projects.<\/li>\n<li><strong>The<\/strong> <strong>UAE\u2019s Assistant Minister for Economic and Trade Affairs <\/strong>Saeed Al Hajeri and <strong>President of Cyprus<\/strong> Nikos Christodoulides discussed on Friday <strong>increasing cooperation<\/strong> in <strong>renewables.<\/strong> (<a href=\"https:\/\/wam.ae\/en\/details\/1395303172365\">Wam<\/a>)<\/li>\n<li>The <strong>Undersecretary of Oman\u2019s Energy and Minerals Ministry<\/strong> Mohsin Al-Hadrami was in <strong>Italy <\/strong>yesterday to discuss, among other things, knowledge transfer opportunities in <strong>renewables, green hydrogen, and energy storage<\/strong>, according to a cabinet <a href=\"https:\/\/twitter.com\/memgovom\/status\/1672913494289657856?s=20\">statement<\/a>.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-diplomacy\/\">CLIMATE DIPLOMACY<\/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\/evs\/\">EVs<\/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-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/oman\/\">Oman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/opec-fund\/\">OPEC Fund<\/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\/south-korea\/\">South Korea<\/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=\"78207\" 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=\"78207\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">CLIMATE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/06\/26\/technical-faults-in-wind-turbines-manufactured-by-siemens-gamesa-to-cost-over-eur-1-bn\/\">\r\n                            Technical faults in wind turbines manufactured by Siemens Gamesa to cost over EUR 1 bn                        <\/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\/06\/26\/technical-faults-in-wind-turbines-manufactured-by-siemens-gamesa-to-cost-over-eur-1-bn\/\" 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\/06\/26\/technical-faults-in-wind-turbines-manufactured-by-siemens-gamesa-to-cost-over-eur-1-bn\/')\">\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\/06\/26\/technical-faults-in-wind-turbines-manufactured-by-siemens-gamesa-to-cost-over-eur-1-bn\/\">\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=Technical faults in wind turbines manufactured by Siemens Gamesa to cost over EUR 1 bn&url=https:\/\/enterpriseam.com\/climate\/2023\/06\/26\/technical-faults-in-wind-turbines-manufactured-by-siemens-gamesa-to-cost-over-eur-1-bn\/\">\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\/06\/26\/technical-faults-in-wind-turbines-manufactured-by-siemens-gamesa-to-cost-over-eur-1-bn\/&title=Technical faults in wind turbines manufactured by Siemens Gamesa to cost over EUR 1 bn\">\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=Technical+faults+in+wind+turbines+manufactured+by+Siemens+Gamesa+to+cost+over+EUR+1+bn+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F06%2F26%2Ftechnical-faults-in-wind-turbines-manufactured-by-siemens-gamesa-to-cost-over-eur-1-bn%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\/06\/26\/technical-faults-in-wind-turbines-manufactured-by-siemens-gamesa-to-cost-over-eur-1-bn\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/675.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78208\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/06\/26\/technical-faults-in-wind-turbines-manufactured-by-siemens-gamesa-to-cost-over-eur-1-bn\/675-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/675.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"675.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/675.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/675.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78207\" class=\"content-area-description single-story post-78207 post type-post status-publish format-standard has-post-thumbnail hentry category-climate-in-the-news tag-climate-in-the-news tag-egypt tag-enterpriseclimate tag-renewables tag-siemens 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-08\"><\/a> <strong>Siemens Energy dealt a huge blow after major faults found in wind turbines: <\/strong>Siemens Gamesa \u2014 a subsidiary of Siemens Energy \u2014 has found a \u201csubstantial increase in failure rates of wind turbine components\u201d that could cost the company over EUR 1 bn, <a href=\"https:\/\/www.reuters.com\/business\/energy\/siemens-energy-ceo-setback-turbine-troubles-more-severe-than-thought-possible-2023-06-23\/\">Reuters<\/a> reported on Friday. The technical issues identified will affect 15-30% of the more than 132 GW worth of turbines used in wind plants worldwide. Siemens Energy\u2019s shares plunged over 37% on Friday after the company \u201cscrapped its [net income] forecast and warned that costly problems at its wind turbine unit could last for years,\u201d according to <a href=\"https:\/\/www.cnbc.com\/2023\/06\/23\/siemens-energy-scraps-profit-outlook-as-wind-turbine-troubles-deepen.html\">CNBC<\/a>. Gamesa is one of the largest suppliers of wind turbines in the world.<\/p>\n<p><strong>REMEMBER-<\/strong> Gamesa and other wind turbine makers had already been facing <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9937a04f-6ea9-404b-9570-be0c966ed015\">major hurdles<\/a> over the last few years, including rising maintenance costs, supply chain risks, rising inflation, and reduced power installations, all of which have contributed to the sector\u2019s growing losses.<\/p>\n<p><strong>Egypt wind plants at risk?<\/strong> Gamesa is a major player in Egypt\u2019s wind energy sector, and is involved in the <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a2657cbe-36cc-4b18-8bb3-cd06b3652cd6\">500 MW Gulf of Suez wind farm<\/a> \u2014 formerly known as the <a href=\"https:\/\/enterprise.press\/stories\/2020\/06\/28\/siemens-to-announce-lekela-wind-farm-electric-works-bid-winner-next-month-17626\/\">Ras Gharib<\/a> wind plant \u2014 the <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/16\/siemens-gamesa-starts-work-on-lekelas-250-mw-west-bakr-wind-plant\/\">250 MW West Bakr wind farm<\/a>, and the <a href=\"https:\/\/enterprise.press\/stories\/2021\/02\/22\/siemens-wants-all-the-wind-projects-32931\/\">220 MW Gabal El Zeit 2<\/a> wind project in the Gulf of Suez.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Lithium iron phosphate (LFP) batteries are gaining traction globally as an <\/strong><strong>alternative to commercial lithium-ion batteries<\/strong>, <a href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/ev-batteries-lithium-iron-phosphate-narrows-gap-with-nickel-cobalt-2023-06-22\/\">Reuters<\/a> reported last week. Two of the world\u2019s largest automakers, Toyota Motor and Hyundai Motor, have announced plans to equip their future vehicles with LFP batteries, and seven EV battery manufacturing facilities in the US have pledged <a href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/electric-cars-take-off-makers-pledge-143-billion-us-lithium-iron-phosphate-2023-06-22\/\">USD 14 bn<\/a> for LFP production, including US giant automakers Ford and General Motors. Tesla and Rivian are reportedly considering similar investments, according to the newswire. Commercial lithium-ion batteries are also known as NMC batteries due to the battery cell being made of a combination of nickel, manganese, and cobalt.<\/p>\n<p><strong>LFP vs. NMC batteries: <\/strong>LFP is becoming the more attractive battery choice partly due to environmental and geopolitical concerns given that their production \u201cdoes not use nickel or cobalt \u2014 two metals in dwindling supply and often questionably sourced,\u201d battery make <a href=\"https:\/\/blog.ecoflow.com\/us\/lifepo4-vs-lithium-ion-batteries\/#:~:text=In%20most%20ways%2C%20LiFePO4%20batteries,up%20to%20five%20times%20longer.\">EcoFlow<\/a> explains. LFP batteries are also more stable and less prone to thermal runaway and overheating issues, making them a safer choice, EcoFlow adds. Lithium-ion batteries, however, have a one-up on LFPs in storage power per unit of volume or weight, but the addition of manganese has enabled them to hold more energy than previously possible, Reuters cited Toyota as saying.<\/p>\n<p><strong>Morocco is preparing to ride the wave:<\/strong> Morocco\u2019s state-owned OCP Group \u2014 which mines phosphate, manufactures phosphoric acid, and produces fertilizer \u2014 plans to develop 20k tons of fluorine and 30k tons of other specialized chemicals <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/434e731f-e4bc-4677-986b-17f8ac733437\">to be used in the production of lithium iron phosphate<\/a> batteries by 2027.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li>Payment company <strong>Mastercard<\/strong> has launched a global project to <strong>recycle credit <\/strong><strong>and debit cards<\/strong>, which should prevent bns of cards in circulation from ending up in landfills. (<a href=\"https:\/\/www.reuters.com\/sustainability\/mastercard-launches-global-plan-recycle-credit-cards-2023-06-21\/\">Reuters<\/a>)<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-in-the-news\/\">CLIMATE IN THE NEWS<\/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\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/siemens\/\">Siemens<\/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=\"78209\" 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=\"78209\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/06\/26\/uae-launches-fintech-sustainability-pledge-ksa-govt-businesses-talk-energy-transition-funding\/\">\r\n                            UAE launches fintech sustainability pledge + KSA gov\u2019t, businesses talk energy transition funding                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/06\/26\/uae-launches-fintech-sustainability-pledge-ksa-govt-businesses-talk-energy-transition-funding\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/climate\/2023\/06\/26\/uae-launches-fintech-sustainability-pledge-ksa-govt-businesses-talk-energy-transition-funding\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/climate\/2023\/06\/26\/uae-launches-fintech-sustainability-pledge-ksa-govt-businesses-talk-energy-transition-funding\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=UAE launches fintech sustainability pledge + KSA gov\u2019t, businesses talk energy transition funding&url=https:\/\/enterpriseam.com\/climate\/2023\/06\/26\/uae-launches-fintech-sustainability-pledge-ksa-govt-businesses-talk-energy-transition-funding\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/climate\/2023\/06\/26\/uae-launches-fintech-sustainability-pledge-ksa-govt-businesses-talk-energy-transition-funding\/&title=UAE launches fintech sustainability pledge + KSA gov\u2019t, businesses talk energy transition funding\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=UAE+launches+fintech+sustainability+pledge+%2B+KSA+gov%E2%80%99t%2C+businesses+talk+energy+transition+funding+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F06%2F26%2Fuae-launches-fintech-sustainability-pledge-ksa-govt-businesses-talk-energy-transition-funding%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/06\/26\/uae-launches-fintech-sustainability-pledge-ksa-govt-businesses-talk-energy-transition-funding\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/6\/1427.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78210\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/06\/26\/uae-launches-fintech-sustainability-pledge-ksa-govt-businesses-talk-energy-transition-funding\/1427-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/6\/1427.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1427.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/6\/1427.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/6\/1427.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78209\" class=\"content-area-description single-story post-78209 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-energy-efficiency tag-enterpriseclimate tag-fintech tag-jordan tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>UAE + MENA Fintech Association make sustainability pledge:<\/strong> The UAE\u2019s Climate Change and Environment Ministry and the Middle East and North Africa Fintech Association (MFTA) have launched the Sustainable Fintech Pledge with the aim of integrating sustainability practices at fintech companies, <a href=\"https:\/\/wam.ae\/en\/details\/1395303172485\">Wam<\/a> reported yesterday. The pledge outlines five core principles: Embedding sustainability in business operations, maintaining transparency and accountability, inspiring change beyond organizational boundaries, unlocking climate innovation in finance, and encouraging the development of sustainable fintech products and services. Signatories of the pledge include the Abu Dhabi Global Market, the Dubai International Financial Centre, and Building Products Company.<\/p>\n<p><strong>KSA officials, business leaders discuss funding for the energy transition + <\/strong><strong>establish business council:<\/strong> Government officials and private sector leaders from Saudi Arabia and Estonia held a three-day investment forum last week where they discussed potential funding in technology, startups, and the energy transition, <a href=\"https:\/\/www.arabnews.com\/node\/2326216\/business-economy\">Arab News<\/a> reported on Thursday. The Saudi-Estonian Investment Forum \u2014 held in Tallinn, Estonia \u2014 also saw the establishment of a business council between the Council of Saudi Chambers and the Estonian Chamber of Commerce and Industry.<\/p>\n<p><strong>Six energy and chemical companies are developing a roadmap for the import of <\/strong><strong>green hydrogen to Bavaria, Germany from North Africa<\/strong>, according to a joint statement <a href=\"https:\/\/ent.news\/2023\/6\/1426.pdf\">(pdf)<\/a> published on Wednesday. The six giant German and Austrian based companies \u2014 <a href=\"https:\/\/www.bayernets.de\/\">Bayernets<\/a>, <a href=\"https:\/\/www.bayernoil.de\/\">Bayernoil<\/a>, <a href=\"https:\/\/www.gasconnect.at\/\">Gas Connect Austria<\/a>, <a href=\"https:\/\/www.wacker.com\/cms\/en-us\/home\/home.html\">Wacker<\/a>, <a href=\"https:\/\/www.westlakevinnolit.com\/en\/\">Westlake Vinnolit<\/a>, and <a href=\"https:\/\/www.verbund.com\/\">Verbund<\/a> \u2014 will be looking to transport the green fuel via existing natural gas pipelines repurposed for hydrogen use, cutting costs and allowing for scalability, the statement said. The consortium is looking at transporting the hydrogen from Tunisia via Italy and Austria. Once completed, the hydrogen pipeline will be available for use by other market participants.<\/p>\n<p><strong>REMEMBER-<\/strong> Existing natural gas pipelines may become an essential asset in the green transition, offering the MENA region <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a826ad24-7a75-4bc4-a4e5-94d5cd5bc2cc\">an edge<\/a> due to its extensive natural gas pipelines, including the Arab Gas Pipeline and the EastMed pipeline. Bavaria\u2019s existing gas infrastructure is also expected to play an important role in Europe\u2019s hydrogen network, according to the statement.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>Jordan\u2019s Energy and Mineral Resources Ministry <\/strong>signed an MoU with <strong>11 <\/strong><strong>hotels<\/strong> in Aqaba to enable them to implement <strong>energy conservation<\/strong> <strong>projects <\/strong>under the country\u2019s JD 3 mn (c. USD 4.2 mn) <strong>Tourism Sector Energy Efficiency Program. <\/strong>(<a href=\"https:\/\/petra.gov.jo\/Include\/InnerPage.jsp?ID=50869&lang=en&name=en_news\">Jordan News Agency<\/a>)<\/li>\n<li><strong>Dubai-based multinational logistics company DP World<\/strong> is converting <strong>22 <\/strong><strong>diesel-powered cranes<\/strong> to <strong>electric power<\/strong> in Brazil\u2019s leading multipurpose terminal Port of Santos. (<a href=\"https:\/\/wam.ae\/en\/details\/1395303171924\">Wam<\/a>)<\/li>\n<li>The<strong> UAE <\/strong>Council for Environmental and Municipal Work has approved a plan for <strong>phasing out single-use plastics <\/strong><strong><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/47ae39f4-f032-4a9a-bf31-2dfc619bd5c3\">by 2024<\/a><\/strong>. (<a href=\"https:\/\/wam.ae\/en\/details\/1395303172319\">Wam<\/a>)<\/li>\n<li><strong>Bahrain\u2019s Electricity and Water Authority<\/strong> is working on establishing <strong>five rapid electric car charging stations <\/strong>in the country. (<a href=\"https:\/\/www.newsofbahrain.com\/about\/\">The Daily Tribune<\/a>)<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/energy-efficiency\/\">energy efficiency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/jordan\/\">Jordan<\/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=\"78211\" 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=\"78211\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/06\/26\/another-saf-venture-anything-for-the-eyes-of-renewables-for-the-dutch\/\">\r\n                            Another SAF venture + anything for the eyes of renewables for the Dutch                        <\/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\/06\/26\/another-saf-venture-anything-for-the-eyes-of-renewables-for-the-dutch\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The 50\/50 JV \u201caims to develop, build, own, and operate SAF plants and promote SAF derived primarily from non-fossil feedstock, utilizing green hydrogen, sustainable sources of CO2 and biomass,\u201d the statement said.<\/p>\n<p><strong>REMEMBER- <\/strong>The EU <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/73bdc340-7f9c-4518-b78d-3f4344260307\">agreed in April<\/a> to set binding targets for European aviation to boost its use of SAF in a bid to decarbonize the industry. The proposal aims to increase the use of SAF by ensuring fuel suppliers have 2% of the fuel accessible at EU airports as SAF in 2025, rising to 6% in 2030, 20% in 2035 and 70% in 2050. The EU carbon market is set to provide about EUR 2 bn to help airlines switch to SAF. Some 1.2% of fuels must also be synthetic fuels from 2030, rising to 35% in 2050. Aviation is a difficult sector to decarbonize and net zero aircrafts are not expected for another 10 years.<\/p>\n<p><strong>Japan\u2019s Mitsubishi UFJ Financial Group launches a USD 1.5 bn climate finance <\/strong><strong>platform: <\/strong>Japanese financial services company Mitsubishi UFJ Financial Group has announced the launch of a USD 1.5 bn finance platform to help push climate investments to developing countries, <a href=\"https:\/\/www.reuters.com\/sustainability\/sustainable-finance-reporting\/mufg-partners-launch-15-bln-climate-finance-platform-2023-06-22\/\">Reuters<\/a> reported on Thursday. The new green finance joint venture, Gaia, is backed by various UN organizations and aims to channel needed capital to some 20 mn people across 25 climate-vulnerable countries. Gaia, which will fund renewable energy and low carbon mobility ventures, will channel 70% of its funds toward climate adaptation projects and will allocate a quarter of its financing to small island countries and the least developed countries.<\/p>\n<p><strong>Anything for renewables for the Dutch:<\/strong> The Netherlands plans to raise subsidies for green hydrogen production by EUR 1 bn in 2024 and another EUR 3.9 bn in the following years, <a href=\"https:\/\/www.reuters.com\/sustainability\/climate-energy\/netherlands-increases-subsidies-green-hydrogen-production-2023-06-23\/#:~:text=AMSTERDAM%2C%20June%2023%20(Reuters),euros%20in%20the%20years%20after.\">Reuters<\/a> reported on Friday. It aims to have the capacity to produce at least 4 GW of green hydrogen in 2030 and grow it by two-fold in 2030, depending on the availability of wind power. \u201cWe want to significantly increase hydrogen production in the Netherlands, which is indispensable for reaching our CO2 reduction targets,\u201d Dutch Climate Minister Rob Jetten said.<\/p>\n<p><strong>USAID will provide a five-year USD 88.9 mn grant to East and Central African countries to<\/strong><strong> increase their clean energy production capacity<\/strong> and widen access to clean energy, according to a <a href=\"https:\/\/www.usaid.gov\/news-information\/press-releases\/jun-21-2023-united-states-announces-89-million-award-advance-access-clean-reliable-energy-sub-saharan-africa\">statement<\/a>. The financing will go towards adding some 1.2 GW of renewable energy to the region and developing 1.5k km of electricity transmission lines to enhance connectivity to the region\u2019s power grids. The grant will help support 10 mn on- and off-grid electricity connections, providing some 50 mn residents of the region with clean energy sources. Separately, the US Embassy in Nairobi said it would work to unlock c.USD 4.7 bn in public and private financing under its Power Africa program to support renewable energy projects in the region, <a href=\"https:\/\/www.zawya.com\/en\/economy\/africa\/us-gives-89mln-for-clean-energy-projects-in-east-africa-pqhxdiyj\">Zawya<\/a> reports.<\/p>\n<p><strong>France-based firms acquire Actis\u2019 Africa-focused renewables company BTE <\/strong><strong>Renewables:<\/strong> French energy firm Engie and Paris-based infrastructure investor <a href=\"https:\/\/www.meridiam.com\/\">Meridiam<\/a> have signed an agreement with Atis to acquire its South Africa-based renewables firm BTE Renewables, the company said in <a href=\"https:\/\/ent.news\/2023\/6\/1428.pdf\">a statement (pdf)<\/a> last week. The agreement will add 50 MW of onshore wind and 190 MW of solar to Engie\u2019s renewables assets, as well as a portfolio of more than 3 GW of \u201cadvanced development projects,\u201d the statement said, without providing further details. Meridiam, on the other hand, will acquire Kenya\u2019s 100 MW <a href=\"https:\/\/kipetoenergy.co.ke\/\">Kipeto wind farm<\/a> and its neighboring 50 MW Siruai wind and storage project. The transaction is expected to close in 4Q 2023.<\/p>\n<p><strong>The sale was a long time coming:<\/strong> Last year, Actis was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c636f569-fcd3-4997-87a2-f5c20bc5691a\">looking to sell<\/a> its South African business BTE Renewables for around USD 1 bn and hired Citigroup as advisors.<\/p>\n<hr class=\"grey-line\">\n<p><strong>EU Carbon emissions could be up for a drop again:<\/strong> The EU\u2019s greenhouse gas emissions could fall again starting this year on the back of a rise in renewable energy generation capacity, <a href=\"https:\/\/www.thenationalnews.com\/climate\/road-to-net-zero\/2023\/06\/25\/eu-emissions-to-begin-falling-again-from-this-year-after-pandemic-surge\/\">The National<\/a> reported yesterday, citing statements by Goldman Sachs analysts. The EU\u2019s emissions grew 9% from 2020-2022 after a growth in transport demand following the pandemic and a sizable gas-to-coal switch for energy generation. The Russian-Ukrainian crisis saw natural gas prices surge to record levels, pushing power stations to raise their coal use. The investment bank\u2019s analysts see a continued growth in renewable energy capacity and a \u201cmore sustainable\u201d transition away from coal and back into gas from 2025, which should help slash emissions in the bloc by another 16% by 2030.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li>Australian grid operator <strong>Transgrid <\/strong>is investing<strong> USD 11.2 bn<\/strong> in energy storage systems and <strong>2.5k km of transmission lines <\/strong>to prepare <strong>Australia\u2019s New South Wales<\/strong> to rely 100% on <strong>renewables <\/strong>within 10 years. (<a href=\"https:\/\/www.reuters.com\/business\/energy\/transgrid-spend-11-bln-prepare-australian-state-100-renewables-2023-06-21\/\">Reuters<\/a>)<\/li>\n<li>In the biggest ever award of its kind, the <strong>US Energy Department <\/strong>will provide up to <strong>USD 9.2 bn<\/strong> in a <strong>low-cost government loan<\/strong> to a joint venture between Ford Motor and South Korea\u2019s SK On to help it build <strong>three battery plants in the US.<\/strong> (<a href=\"https:\/\/www.reuters.com\/markets\/asia\/ford-sk-joint-venture-set-receive-92-billion-us-government-loan-battery-plants-2023-06-22\/\">Reuters<\/a>)<\/li>\n<li><strong>VSK Energy LLC<\/strong> \u2014 a JV between Indian solar panel manufacturer <strong>Vikram <\/strong><strong>Solar Ltd<\/strong>, US-based renewables investor <strong>Phalanx Impact Partners,<\/strong> and US financial services firm <strong>Das & Co<\/strong> \u2014 will <strong>invest USD 1.5 bn <\/strong>to build two <strong>solar panel manufacturing facilities in the US. <\/strong><a href=\"https:\/\/www.reuters.com\/business\/energy\/group-backed-by-indias-vikram-solar-invest-15-billion-new-us-factories-2023-06-22\/\">(Reuters)<\/a><\/li>\n<li><strong><a href=\"https:\/\/www.rolls-royce.com\/\">Rolls-Royce Holdings<\/a><\/strong> is opening its <strong>first office<\/strong> in <strong>East Africa<\/strong> to produce sustainable fuels for electricity and to power locomotives and ships. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-06-22\/rolls-royce-sets-up-in-east-africa-to-provide-engines-for-power-transport\">Bloomberg<\/a>)<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/africa\/\">Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/australia\/\">Australia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/aviation\/\">Aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/europe\/\">Europe<\/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-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/japan\/\">Japan<\/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\/sasol\/\">Sasol<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/sustainable-aviation-fuels\/\">sustainable aviation fuels<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/topsoe\/\">Topsoe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/usa\/\">USA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/wildfires\/\">wildfires<\/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=\"78213\" 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\/06\/26\/78213\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78213\" class=\"content-area-description single-story post-78213 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>JULY 2023<\/strong><\/p>\n<p>3-7 July (Monday-Friday): <a href=\"https:\/\/aic2023.geo.unibuc.ro\/en\/\">The 36th Conference of the International Association of Climatology<\/a>, Bucharest, Romania.<\/p>\n<p>15-16 July (Saturday-Sunday): <a href=\"https:\/\/unfccc.int\/event\/LD_wksp2\">Second COP27 transitional committee workshop<\/a>, Bangkok, Thailand.<\/p>\n<p>TBD: <a href=\"https:\/\/www.facebook.com\/EGY.Environment\/posts\/pfbid02AYrL9tbYtkBKjqFzfhVFqssS5ZazH3KNVfq1awDFEEPuszMVK6Ytkg2WzUVisy4fl\">Egypt\u2019s post-COP27 Environmental and Climate Investment Forum<\/a>, hosted by Egypt, Switzerland and UNIDO.<\/p>\n<p><strong>AUGUST 2023<\/strong><\/p>\n<p>20-24 August (Sunday-Wednesday): <a href=\"https:\/\/www.worldwaterweek.org\/\">World Water Week 2023<\/a>, Stockholm, Sweden.<\/p>\n<p>21-22 August (Monday-Tuesday): <a href=\"https:\/\/crgconferences.com\/recycling\/\">International Conference on Recycling and Waste Management<\/a>, USA.<\/p>\n<p>21-22 August (Monday-Tuesday): <a href=\"https:\/\/crgconferences.com\/environmental\/\">International Conference on Environmental Sustainability and Climate Change<\/a>, USA.<\/p>\n<p>29 August-1 September (Tuesday-Friday): <a href=\"https:\/\/ent.news\/2023\/4\/1066.pdf\">Third meeting of the COP27 Transitional Committee<\/a>, TBD.<\/p>\n<p><strong>SEPTEMBER 2023<\/strong><\/p>\n<p>9-10 September (Saturday-Sunday): <a href=\"https:\/\/www.g20.org\/en\/g20-india-2023\/new-delhi-summit\/\">G20 Heads of State and Government Summit<\/a>, New Delhi, India.<\/p>\n<p>9-20 September (Saturday-Wednesday): <a href=\"https:\/\/www.un.org\/en\/conferences\/SDGSummit2023\">2023 Sustainable Development Goals Summit<\/a>, New York, USA.<\/p>\n<p>11-13 September (Monday-Wednesday): <a href=\"https:\/\/10times.com\/e1r3-x4p2-z8sd\">Global Congress on Renewable and Non-Renewable Energy<\/a>, Dubai, UAE.<\/p>\n<p>12-15 September (Tuesday-Friday): <a href=\"https:\/\/www.wto.org\/english\/forums_e\/public_forum_e\/public_forum_e.htm\">WTO Public Forum<\/a>, Geneva, Switzerland.<\/p>\n<p>19-21 September (Tuesday-Thursday): <a href=\"https:\/\/www.worldptxsummit.com\/\">World Power-to-X Summit<\/a>, Marrakesh, Morocco.<\/p>\n<p>28 September (Thursday):<a href=\"https:\/\/www.iea.org\/news\/first-ever-iea-critical-minerals-and-clean-energy-summit-to-take-place-on-28-september\">International Energy Agency Critical Minerals and Clean Energy Summit<\/a>, Paris, France.<\/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>Egypt set to <a href=\"https:\/\/bit.ly\/3MTNCjG\">launch alliance<\/a> to shore up climate financing in developing countries<\/p>\n<p><strong>OCTOBER 2023<\/strong><\/p>\n<p>4 October (Wednesday): Arabia CSR Gala Awarding Ceremony, UAE.<\/p>\n<p>9-15 October (Monday-Sunday): <a href=\"https:\/\/www.imf.org\/en\/News\/Seminars\/Campaigns\/2023\/Marrakech2023\">World Bank\/IMF 2023 Annual Meetings<\/a>, Marrakech, Morocco.<\/p>\n<p>10-12 October (Tuesday-Thursday): <a href=\"https:\/\/aemobforum.com\/\">Autonomous E-Mobility Forum<\/a>, Doha, Qatar.<\/p>\n<p>16-18 October (Monday-Wednesday): <a href=\"https:\/\/www.climatelinks.org\/events\/climate-week-2022-2nd-world-conference-climate-change-sustainability\">Climate Week<\/a>, Rome, Italy.<\/p>\n<p>17-20 October (Tuesday-Friday): <a href=\"https:\/\/ent.news\/2023\/4\/1066.pdf\">Fourth meeting of the COP27 Transitional Committee<\/a>, TBD.<\/p>\n<p>29 October- 2 November (Sunday-Thursday): <a href=\"https:\/\/bit.ly\/40YIn6F\">Cairo Water Week<\/a>, Cairo, Egypt<\/p>\n<p>31 October \u2013 2 November (Tuesday-Thursday): <a href=\"https:\/\/www.worldhydropowercongress.org\/\">World Hydropower Congress<\/a>, Bali, Indonesia.<\/p>\n<p><strong>NOVEMBER 2023<\/strong><\/p>\n<p>9-10 November (Thursday-Friday): <a href=\"https:\/\/www.irena.org\/News\/pressreleases\/2023\/Mar\/IRENA-To-Hold-First-Latin-American-Investment-Forum-in-Uruguay\">International Renewable Energy Agency Investment Forum<\/a>, Uruguay.<\/p>\n<p>15-17 November (Wednesday-Friday): <a href=\"https:\/\/www.wetex.ae\/\">WETEX and Dubai Solar Show,<\/a> Dubai, UAE.<\/p>\n<p>16-17 November (Thursday-Friday): <a href=\"https:\/\/www.dwtc.com\/en\/events\/world-green-economy-summit-wges-2023\/\">World Green Economy Summit (WGES)<\/a>, Dubai, UAE.<\/p>\n<p>15-18 November (Wednesday-Saturday): DEWA\u2019s <a href=\"https:\/\/mediaoffice.ae\/en\/news\/2023\/May\/07-05\/DEWA-MENA-Solar-Conference\">First MENA Solar Conference<\/a>, Dubai, UAE.<\/p>\n<p>20-24 November (Monday-Friday) I<a href=\"https:\/\/wam.ae\/en\/details\/1395303172305\">nternational Civil Aviation Organisation\u2019s Aviation and Alternative Fuels conference<\/a>, Dubai, UAE.<\/p>\n<p>27-30 November (Monday-Thursday) <a href=\"https:\/\/twitter.com\/ADGlobalMarket\/status\/1672228350046224384\">Abu Dhabi Finance Week (ADFW)<\/a>, Abu Dhabi, UAE.<\/p>\n<p>30 November - 12 December: <a href=\"https:\/\/unfccc.int\/\">Conference of the Parties (COP 28)<\/a>, Dubai, UAE.<\/p>\n<p><strong>FEBRUARY 2024<\/strong><\/p>\n<p>26-28 February (Monday-Wednesday): <a href=\"https:\/\/conferences.uaeu.ac.ae\/warms2024\/en\/index.shtml\">Management and Sustainability of Water Resources<\/a>, Dubai, UAE.<\/p>\n<p><strong>APRIL 2024<\/strong><\/p>\n<p>16-18 April (Tuesday-Thursday): <a href=\"https:\/\/www.worldfutureenergysummit.com\/\">World Future Energy Summit<\/a>, Abu Dhabi, UAE.<\/p>\n<p>23-25 April (Tuesday-Thursday): <a href=\"https:\/\/www.mena.gh2events.com\/\">Connecting Green Hydrogen MENA<\/a>, Dubai, UAE.<\/p>\n<p><strong>EVENTS WITH NO SET DATE<\/strong><\/p>\n<p><strong>2023 <\/strong><\/p>\n<p>Mid-2023: Oman <a href=\"https:\/\/www.meed.com\/oman-to-sign-multibillion-dollar-hydrogen-contracts\">set to sign contracts<\/a> for green hydrogen projects.<\/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><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><strong>2025 <\/strong><\/p>\n<p><a href=\"https:\/\/www.iucn.org\/our-union\/iucn-world-conservation-congress\">International Union for Conservation of Nature World Conservation Congress<\/a>, Abu Dhabi, UAE.<\/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><a href=\"https:\/\/uitpsummit.org\/\">UITP Global Public Transport Summit<\/a>, Dubai, UAE.<\/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><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>2050<\/strong><\/p>\n<p><a href=\"https:\/\/www.facebook.com\/Presidencedugouvernementtunisien\/posts\/pfbid02urYKuUDF91i7dtVRR3yrSFzM4p5aG1JUormqfgnbjuUMTSGzmL2DrY8Z7wyfA7vBl?locale=ar_AR\">Tunisia\u2019s carbon neutrality target<\/a>.<\/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":78190,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-78189","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"b4c03ebb-1323-4f11-8a6a-ff7fb6898ed4","teaser":"","photo_url":"https:\/\/ent.news\/2021\/1\/100.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>Paris financing summit ends with mixed results - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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