{"id":78335,"date":"2023-07-09T22:31:04","date_gmt":"2023-07-09T22:31:04","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=78335"},"modified":"2025-12-15T09:12:35","modified_gmt":"2025-12-15T09:12:35","slug":"egypts-cib-will-receive-usd-100-mn-from-ifc-to-boost-climate-financing","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/egypts-cib-will-receive-usd-100-mn-from-ifc-to-boost-climate-financing\/","title":{"rendered":"Egypt\u2019s CIB will receive USD 100 mn from IFC to boost climate financing"},"content":{"rendered":"<section id=\"78337\" 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=\"78337\">\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\/07\/09\/today-egypts-cib-will-receive-usd-100-mn-from-ifc-to-boost-climate-financing\/\">\r\n                            TODAY: Egypt\u2019s CIB will receive USD 100 mn from IFC to boost climate financing                        <\/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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href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/09\/today-egypts-cib-will-receive-usd-100-mn-from-ifc-to-boost-climate-financing\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1457.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78338\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/09\/today-egypts-cib-will-receive-usd-100-mn-from-ifc-to-boost-climate-financing\/1457-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1457.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1457.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1457.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1457.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78337\" class=\"content-area-description single-story post-78337 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-aramco tag-carbon-offsetting tag-cop28 tag-enterpriseclimate tag-eu tag-infinity tag-renewables tag-saudi-arabia tag-uae tag-waste-to-energy tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Good morning, nice people. <\/strong>We have a busy morning to dive into with climate updates across the region and in all sectors of the industry.<\/p>\n<p><strong>THE BIG CLIMATE STORIES- <\/strong>Egypt\u2019s largest private lender CIB will receive a USD 100 mn loan from the World Bank\u2019s private investment arm the International Finance Corporation to help finance the bank\u2019s climate finance business and Taqa Arabia began trading on Egypt\u2019s bourse yesterday after getting the green light from the EGX\u2019s listing committee.<\/p>\n<p><strong>^^ We have the details on these stories and much more in the news well, below. <\/strong><\/p>\n<p><strong>THE BIG CLIMATE STORY OUTSIDE THE REGION- A shot in the arm for shipping industry<\/strong> <strong>emission cuts:<\/strong> Member countries of the International Maritime Organization (IMO) gave the green light to a revised greenhouse gas strategy that outlines a net zero emissions goal for the shipping industry by mid century. They agreed following talks by the UN shipping agency over last week to reach net zero \u201cby or around, i.e., close to 2050, taking into account different national circumstances.\u201d They also approved \u201cindicative checkpoints\u201d to help lower total annual greenhouse gas emissions from the global shipping industry by at least 20% while aiming for 30% by 2030 compared with 2008 levels. They also seek reducing such emissions by at least 70%, while striving for 80% by 2040.<\/p>\n<p><strong>No sign of the contentious levy:<\/strong> A proposed <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/93f3ec0c-5d58-4e81-b2d3-8aed04137af1\">global levy<\/a> on shipping emissions was not included in the IMO strategy\u2019s text, which did say that several \u201cGHG reduction measures\u201d that include \u201can economic element\u201d should be finalized and approved by 2025.<\/p>\n<p><strong>The story got widespread coverage over the weekend:<\/strong> <a href=\"https:\/\/www.reuters.com\/sustainability\/countries-adopt-new-shipping-greenhouse-gas-emissions-target-2023-07-07\/\">Reuters<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-07-07\/shipping-regulator-falls-short-of-1-5c-aligned-climate-targets?srnd=green\">Bloomberg<\/a> | <a href=\"https:\/\/www.theguardian.com\/environment\/2023\/jul\/07\/shipping-emissions-levy-delayed-but-goals-for-greenhouse-gas-cuts-agreed\">The Guardian<\/a> | <a href=\"https:\/\/www.ft.com\/content\/365781a7-af36-429f-8122-37d93e1f125d\">The Financial Times<\/a> | <a href=\"https:\/\/apnews.com\/article\/shipping-emissions-climate-change-7e41af0c95b5544208731d8df70a986f\">The Associated Press<\/a> | <a href=\"https:\/\/edition.cnn.com\/2023\/07\/07\/world\/shipping-imo-climate-pledge-intl\/index.html\">CNN<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/world\/2023\/07\/07\/imo-shipping-emissions-climate\/\">The Washington Post<\/a> | <a href=\"https:\/\/www.nytimes.com\/2023\/07\/06\/climate\/cargo-ship-emissions-agreement.html\">The New York Times<\/a><\/p>\n<p class='web-image'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1434.jpg?ssl=1\" alt='enterprise'><\/p>\n<p><strong>MARK YOUR CALENDARS- The Enterprise Finance Forum is taking place on 18-19 September at the St. Regis Hotel in Cairo. <\/strong>This flagship forum is the latest in our must-attend series of invitation-only, C-suite-level gatherings that allow senior members of our community to openly and frankly discuss critical issues in key sectors of the economy.<\/p>\n<p><strong>Day one is our Banking Forum<\/strong>, where we\u2019ll dive deep into topics of interest to commercial and investment bankers, from an outlook on the 12 months to come in M&A, IPO, and debt capital markets to the national, regional, and global trends that are (re)shaping our industry.<\/p>\n<p><strong>Day two is all about Fintech and Non-Banking Financial Services. <\/strong>We\u2019ll take a deep dive into everything from the magic of client acquisition to the prospects of consolidation and the coming of challenger banks.<\/p>\n<p><strong>** NEW: MORE NETWORKING TIME- <\/strong>Our agenda includes expanded networking time, including an expanded coffee break and a post-event networking room for you to interact with your peers and speak one-on-one with the team at Enterprise.<\/p>\n<p><strong><a href=\"https:\/\/finance.enterprise.news\/\">TAP OR CLICK 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> <a href=\"mailto:mtaalab@inktankir.com\">Ping a note<\/a> to Moustafa Taalab, our head of commercial, or <a href=\"https:\/\/finance.enterprise.news\/sponsor.html\">fill out this form<\/a> and we\u2019ll be in touch.<\/p>\n<p><strong>STAY TUNED for more detail <\/strong>about our agenda in the weeks to come.<\/p>\n<p><strong>DID YOU MISS THE ENTERPRISE EXPORTS AND FDI FORUM? <\/strong><strong><a href=\"https:\/\/podcasts.apple.com\/eg\/podcast\/the-enterprise-podcast\/id1617987136\">Tune in to the Enterprise Podcast and listen for yourself<\/a><\/strong><strong>:<\/strong> The Enterprise Podcast is back with another installment of our forum series, where we bring you audio recordings of what was said on stage at the Enterprise Exports and FDI Forum, which took place in May.<\/p>\n<p><strong>WANT TO LISTEN? Head to: <\/strong><a href=\"https:\/\/podcasts.apple.com\/eg\/podcast\/the-enterprise-podcast\/id1617987136?i=1000620168782\">Apple Podcast<\/a> | <a href=\"https:\/\/open.spotify.com\/episode\/1Py9gohdBSApgPy8cJ0MHC?si=jucGGDUaT2yNyDsaLKXwQQ&nd=1\">Spotify<\/a> | <a href=\"https:\/\/podcasts.google.com\/feed\/aHR0cHM6Ly93d3cub21ueWNvbnRlbnQuY29tL2QvcGxheWxpc3QvNWE1NmQ3YzMtZjI4MS00NTU3LThlMzEtYWFjODAxN2NjZjA2LzY4NmNmYTU5LTAwOTMtNDEyMS1hMTRjLWFlNmYwMDk3ZjEyMi81NDI0MGE5Ni04YWY5LTRkZGQtODExNi1hZTZmMDA5OTgxMzYvcG9kY2FzdC5yc3M=\">Google Podcast<\/a> | <a href=\"https:\/\/play.anghami.com\/episode\/1116856621?adj_t=dgl0aa8_64v1dnl&adj_campaign=ios&adj_adgroup=episode&adj_creative=126401725\">Anghami<\/a>. <strong>We\u2019re releasing a new episode every Sunday morning.<\/strong><\/p>\n<hr class=\"grey-line\">\n<p><strong>OVER IN COPLAND- COP28\u2019s Al Jaber wants Big Oil to up its game:<\/strong> COP28 President-Designate Sultan Al Jaber has urged the world\u2019s oil and gas industry to \u201cup its game\u201d towards clean energy solutions, <a href=\"https:\/\/wam.ae\/en\/details\/1395303174993\">Wam<\/a> reported on Thursday. During the OPEC International Seminar in Vienna, he reiterated an earlier call for the industry to \u201curgently decarbonise its operations and take collective action to eliminate operational emissions\u201d through three imperatives. These are achieving net-zero by 2050, advancing pledges to phase out methane emissions, and monitoring progress along the plan. \u201cToday I would like to add a fourth imperative \u2026 allocating capital at scale to clean energy solutions, because the energy system of the future will not build itself,\u201d Al Jaber said.<\/p>\n<p><strong>Doubling down on fossil fuel phaseout comments:<\/strong> \u201cThe phase down of fossil fuels is inevitable. It is in fact essential. But it cannot be irresponsible,\u201d Al Jaber told delegates, stressing that the \u201cspeed of the transition will be driven by how quickly we phase up zero carbon alternatives.\u201d<\/p>\n<p><strong>IN OTHER COP28 NEWS- <\/strong>Al Jaber also met with Pakistan\u2019s Federal Minister for Climate Change and Environment Sherry Rehman in Pakistan to discuss the importance of a \u201cglobal reset that enhances support for developing countries on the frontline of climate change\u201d during the upcoming summit, COP28 <a href=\"https:\/\/twitter.com\/COP28_UAE\/status\/1676915180280709120\">said<\/a> on Thursday.<\/p>\n<p><strong>The UAE could be on the lookout for investments in Pakistan\u2019s renewables: <\/strong>The UAE is interested in investment opportunities in Pakistan's renewable energy sector, Pakistani daily <a href=\"https:\/\/www.brecorder.com\/news\/40251305\">Business Recorder<\/a> reported, citing statements by Al Jaber during his meeting with Rehman. \u201cWhether it is in the conventional energy or in the alternative energy space, we are very keen to work with Pakistan in the renewable energy sector, and apply scale and capital in advancing renewable energy assets,\u201d he said.<\/p>\n<hr class=\"grey-line\">\n<p><strong>WATCH THIS SPACE #1- Banks not following EU\u2019s lead in nuclear green energy label:<\/strong> None of the world\u2019s top 30 banks have included nuclear energy in their criteria for issuing green or sustainability-linked bonds, <a href=\"https:\/\/www.reuters.com\/sustainability\/major-banks-yet-match-eu-with-nuclear-green-label-study-2023-07-06\/\">Reuters<\/a> reported on Thursday, citing analysis by Columbia University\u2019s <a href=\"https:\/\/www.energypolicy.columbia.edu\/\">Center on Global Energy Policy<\/a>. According to the analysis, 17 banks have explicitly kept out nuclear energy from their green financing frameworks, 12 do not mention nuclear energy, and one does not have a framework.<\/p>\n<p><strong>The shunning of nuclear energy comes despite the EU deciding last year to add nuclear power plants to the list of investments that are considered green.<\/strong> The report <a href=\"https:\/\/www.reuters.com\/sustainability\/climate-energy\/eu-renewable-energy-law-clears-first-vote-after-french-nuclear-assurances-2023-06-28\/\">comes days<\/a> after a European Parliament committee backed the bloc\u2019s renewable energy targets, yet criticized last-minute tweaks granting France and other nations exceptions regarding the recognition of nuclear energy. The law, which would still require full approval from the EU Parliament and EU countries, <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/08471c12-5188-48b4-8e1d-53099149d52e\">was deadlocked<\/a> for weeks due to a pushback from France and others demanding carve-outs for non-renewable fuels.<\/p>\n<p><strong>And ESG reporting rules need tightening: <\/strong>Some 100 European asset managers are urging the EU to revise planned ESG reporting rules amid concerns that the current proposal doesn\u2019t provide necessary data for filled in decisions, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-07-06\/asset-managers-banks-want-tougher-esg-reporting-rules-for-firms?srnd=green\">Bloomberg<\/a> reported on Thursday. The European Sustainable Investment Forum (Eurosif) said the current proposal leaves companies and advisers \u201cto determine what is, and isn\u2019t, material to report.\u201d Such rules could lead to a decline in the data that investors get, it argued. Instead, they want the EC to oblige companies to report several ESG indicators including climate data, so investors can avoid greenwashing. Once consultation over the planned ESG reporting rules is submitted, the proposal makes its way to the European Parliament and then the EU Council. Implementation is set for 2024 with first corporate reports due in 2025.<\/p>\n<p><strong>IN EU EMISSIONS NEWS-<\/strong><strong> The European Commission (EC) is set to propose measures <\/strong><strong>aimed <\/strong><strong>at lowering emissions from freight transport tomorrow<\/strong>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-07-06\/eu-to-unveil-strategy-to-make-freight-transport-greener?srnd=green\">Bloomberg<\/a> reported on Thursday, citing a draft document it has seen. The measures include reducing red tape, coordinating international rail traffic, and using digital technologies. \u201cUnnecessary regulatory obstacles continue to undermine the efficiency of European freight, limiting the scope for emissions reductions,\u201d the document read. Freight transport accounts for over 30% of carbon dioxide emissions in the transportation sector, according to the document. The sector is expected to grow by 25% by the end of the decade from 2015 levels and 50% by 2050.<\/p>\n<p><strong>And aluminum producers have their feathers ruffled: <\/strong>EU aluminum producers are worried that an escape clause in the EU\u2019s carbon border tax could help heavily polluting exporters like China sidestep the rules and export cheap and emissions heavy aluminum, <a href=\"https:\/\/www.ft.com\/content\/8c048807-bd2a-4ec9-97e3-e1acc7fe4553\">The Financial Times<\/a>reports. Under the proposed rules, a levy is imposed on the amount of carbon emissions produced during the manufacture of goods imported into the EU but doesn\u2019t impose a ban on scraps of the metal being sold as a zero carbon product, even if they\u2019re originally produced using coal or other fossil fuels. This loophole could encourage non-EU producers to import scrap to Europe after remelting, aluminum companies including Norsk Hydro and Speira warned. \u201cThis loophole enables the widespread greenwashing of imported aluminum products and undermines the effectiveness of the <a href=\"https:\/\/taxation-customs.ec.europa.eu\/carbon-border-adjustment-mechanism_en\">Carbon Border Adjustment Mechanism<\/a> in preventing carbon leakage,\u201d Norsk Hydro\u2019s chief executive Hilde Merete Aasheim said.<\/p>\n<hr class=\"grey-line\">\n<p><strong>WATCH THIS SPACE #2- Some progress for Egypt-KSA electricity interconnector: <\/strong>Construction on the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/653bc78e-5d38-4458-975b-249cc9521b61\">USD 1.8 bn Egypt-Saudi electricity interconnection<\/a> project is 20% complete, Egypt\u2019s Electricity Minister Mohamed Shaker told <a href=\"https:\/\/bit.ly\/46zQvy5\">Youm7<\/a> last week, adding that the 3 GW project will begin operation in 2025. The first 1.5 GW phase will go live in June 2025, followed by the second and final 1.5 GW phase in November of the same year.<\/p>\n<p><strong>About the project:<\/strong> The Egypt-Saudi electricity interconnection project will be home to HVDC conversion stations including two stations in Saudi Arabia\u2019s Medina and Tabuk and another in Badr city, east of Cairo. It will flow power along a 1.35k km route through overhead power lines and a 22 km subsea cable in the Red Sea.<\/p>\n<p><strong>IN OTHER KSA NEWS- Saudi oil giant Aramco has <\/strong><strong><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/154b2330-5a84-44d7-95f7-28ab1647cfb7\">reconfirmed plans<\/a><\/strong><strong> to produce 11 mn <\/strong><strong>tons of blue <\/strong><strong>hydrogen annually by 2030<\/strong>, Aramco CEO Amin Al Nasser told <a href=\"https:\/\/www.skynewsarabia.com\/video\/1634828-%D8%A7%D9%94%D8%B1%D8%A7%D9%85%D9%83%D9%88-%D8%AA%D8%AE%D8%B7%D8%B7-%D9%84%D8%A7%D9%95%D9%86%D8%AA%D8%A7%D8%AC-11-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%B7%D9%86-%D9%87%D9%8A%D8%AF%D8%B1%D9%88%D8%AC%D9%8A%D9%86-%D8%A7%D9%94%D8%B2%D8%B1%D9%82-%D8%A8%D8%A7%D9%84%D9%85%D8%B1%D8%AD%D9%84%D8%A9-%D8%A7%D9%84%D8%A7%D9%94%D9%88%D9%84%D9%89\">Sky News Arabia<\/a> last week, dispelling earlier reports that the company was <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/5ed3cfc5-1e04-482a-8599-e2bc7f8da19f\">backtracking<\/a> on its planned hydrogen investments. The clean energy source would not be a near-term cost-effective power source, however, according to Nasser, who <a href=\"https:\/\/www.zawya.com\/en\/projects\/industry\/aramco-ceo-says-blue-hydrogen-cost-equivalent-of-250-a-barrel-of-oil-hz1azrmi\">said<\/a> in May that blue hydrogen would cost the equivalent of USD 250 a barrel of oil. Inadequate hydrogen production infrastructure and ammonia cracking technologies also render hydrogen a more long-term energy source, Nasser told Sky News.<\/p>\n<p><strong>Aramco had big blue plans:<\/strong> The company said it was earmarking \u201c<a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/5345ee93-0434-4642-a343-fe5c4310bdb4\">multiple bns of USD<\/a>\u201d in a bid to establish itself as a major blue hydrogen exporter last November. In March, the company <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/352f89df-14cd-4a1e-aabd-bbac1fed17a9\">signed<\/a> a cooperation agreement with British chemicals company Linde to jointly develop ammonia cracking technology and establish a demonstration facility in northern Germany. The company is also <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/0e9d0144-d27b-4e12-bf51-61df76c4cee9\">one of several<\/a> energy firms mulling the establishment of a large-scale ammonia cracking plant at the Port of Rotterdam. In March, the Saudi oil giant and Sabic Agri-Nutrients <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/d4df196c-3864-4226-9fc9-2dffbdaef025\">shipped<\/a> 25k tons of low-carbon blue ammonia to South Korea\u2019s Lotte Fine Chemical.<\/p>\n<hr class=\"grey-line\">\n<p><strong>WATCH THIS SPACE #3- The first phase of Dubai\u2019s mega WtE plant is coming online <\/strong><strong>soon<\/strong><strong>: <\/strong>The first two waste-to-energy (WtE) production lines of the <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/38bffa14-04ce-4f2e-9eae-a4dfafa34495\">newly inaugurated<\/a> AED 4 bn (c. USD 1.1bn) 220 MW Dubai Waste Management Centre will kick off operations next month, according to a <a href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/besix-and-hitachi-zosen-inova-celebrate-the-successful-first-fire-at-dubai-waste-to-energy-facility-wwdhgi0x\">statement<\/a> released last week. The two production lines are expected to generate some 80 MWh of clean energy by processing 2k tons of solid waste daily, according to an earlier <a href=\"https:\/\/www.dm.gov.ae\/2022\/07\/26\/dubai-waste-management-centre-to-start-initial-operations-in-2023\/\">statement<\/a>. The 400k sqm plant \u2014 set to become fully operational by 1Q 2024 \u2014 will process and convert 2 mn tons of waste annually, providing clean electricity to power some 135k residential units. Once it comes online, HZI and BESIX will form a joint venture to operate and maintain the project under a 35-year agreement with Dubai Municipality, the statement notes.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a><strong> WATCH THIS SPACE #4- Infinity Power is eyeing Kenyan green energy:<\/strong> Infinity Power \u2014 a JV between the UAE\u2019s Masdar and Egyptian renewables player Infinity \u2014 is seeking local partners in Kenya\u2019s green energy sector to capitalize on the African country\u2019s renewable energy potential, Deputy CEO Ahmed Mulla told <a href=\"https:\/\/www.capitalfm.co.ke\/business\/2023\/07\/infinity-power-eyes-a-piece-of-kenyas-promising-green-energy-sector\/\">Capital Business<\/a> in an interview last week. \u201cWe plan to grow and growth is not driven by our ambitions to be the largest but also to serve. We are here to serve the continent. We are here to serve the people of Kenya. We can only do that with the support of the government,\u201d Mulla said, without providing details on the kind of partnership that Infinity Power is seeking. He said that the East African country is one of the most attractive markets in Africa to set up green energy reserves, adding that his company is on the lookout for local companies with a strong outlook and track record of delivery. Mulla\u2019s statements came days before a Kenyan delegation led by Cabinet Secretary for the Ministry of Investments, Trade and Industry Moses Kuria visited Masdar HQ for talks, the company <a href=\"https:\/\/twitter.com\/Masdar\/status\/1677336051436642307\">said<\/a> on Friday.<\/p>\n<hr class=\"grey-line\">\n<p><strong>DATA POINT- Developing nations are in need of renewable energy investments of <\/strong><strong>c. USD 1.7 tn annually<\/strong>, more than triple the amount they received last year, the United Nations Conference on Trade and Development (UNCTAD) said in its recent <a href=\"https:\/\/unctad.org\/publication\/world-investment-report-2023\">World Investment Report<\/a>. UNCTAD said that developing countries only saw USD 544 bn in clear energy foreign direct investments last year. It said that although investments in renewable energy have nearly tripled since 2015, most of these investments were directed to developed countries. \u201cA significant increase in investment in sustainable energy systems in developing countries is crucial for the world to reach climate goals by 2030,\u201d UNCTAD Secretary General Rebeca Grynspan said.<\/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<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>THE DANGER ZONE- The world\u2019s hottest week on record is ringing the alarm bell: <\/strong>UN Secretary General Ant\u00f3nio Guterres warned that \u201cclimate change is out of control\u201d as unofficial data showed the world hitting its hottest week on record last week, <a href=\"https:\/\/www.theguardian.com\/environment\/2023\/jul\/07\/un-climate-change-hottest-week-world\">The Guardian<\/a> reported on Friday. \u201cIf we persist in delaying key measures that are needed, I think we are moving into a catastrophic situation, as the last two records in temperature demonstrates,\u201d Guterres said. His statements come as the average global air temperature recorded 17.18\u00b0C on Tuesday, surpassing the record 17.01\u00b0C a day earlier, according to data by the UN National Centers for Environmental Prediction (NCEP). The daily average temperature for the seven-day period ending on Wednesday was estimated at 0.04\u00b0C higher than any week in the 44 years of record-keeping, according to the University of Maine\u2019s Climate Reanalyzer data.<\/p>\n<p><strong>El Ni\u00f1o\u2019s comeback is bad news: <\/strong>The UN\u2019s weather agency warned <a href=\"https:\/\/www.cnbc.com\/2023\/07\/04\/el-nio-un-says-climate-phenomenon-likely-to-break-temperature-records.html\">last week<\/a> that the return of the naturally occurring El Ni\u00f1o weather pattern could pave the way for a surge in global temperatures as greenhouse gas emissions rise. \u201cThe onset of El Ni\u00f1o will greatly increase the likelihood of breaking temperature records and triggering more extreme heat in many parts of the world and in the ocean,\u201d World Meteorological Organization Petteri Secretary General Taalas said.<\/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 Saturday, <\/strong><strong>15 July to Sunday, 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>Egypt will host the <\/strong><strong><a href=\"https:\/\/www.egyptminingforum.com\/\">Egypt Mining Forum<\/a><\/strong><strong> from Tuesday, 18 July to Wednesday, 19 July<\/strong> in Cairo. The event \u2014 organized by the country\u2019s Oil Ministry \u2014 will gather regional players as well as global mining firms in a bid to attract regional and foreign direct investments in the country\u2019s mining industry.<\/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\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\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/carbon-offsetting\/\">carbon offsetting<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/cop28\/\">COP28<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/infinity\/\">Infinity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/waste-to-energy\/\">WASTE TO ENERGY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"78339\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n\r\n    <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide mx-auto\">\r\n        <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/25497.png?ssl=1\">\r\n        <div class=\"overlay\"><\/div>\r\n        <div class=\"content\">\r\n            <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/25398.svg\" alt=\"\">\r\n            <\/a>\r\n            <span>Opening up a world of opportunity<\/span>\r\n        <\/div>\r\n    <\/div>\r\n\r\n      <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"78340\" 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=\"78340\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/09\/egypts-cib-will-receive-usd-100-mn-from-ifc-to-boost-climate-financing\/\">\r\n                            Egypt\u2019s CIB will receive USD 100 mn from IFC to boost climate financing                        <\/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\" 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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\/07\/09\/egypts-cib-will-receive-usd-100-mn-from-ifc-to-boost-climate-financing\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/CIB-branch-1600px.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78341\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/09\/egypts-cib-will-receive-usd-100-mn-from-ifc-to-boost-climate-financing\/cib-branch-1600px-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/CIB-branch-1600px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"CIB-branch-1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/CIB-branch-1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/CIB-branch-1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78340\" class=\"content-area-description single-story post-78340 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-cib tag-debt-watch tag-enterpriseclimate tag-green-finance tag-ifc 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>CIB is getting a helping hand from the IFC for its green push:<\/strong> Egypt\u2019s largest private lender, CIB, will receive a USD 100 mn loan from the World Bank\u2019s private investment arm the International Finance Corporation (IFC) to help fund the bank\u2019s climate finance endeavors, CIB\u2019s head of financial institutions Heba Abdel Latif told <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-07-09\/egypt-s-cib-gets-250-million-in-ifc-loans-with-eye-on-green-work\">Bloomberg<\/a> on Sunday.<\/p>\n<p><strong>Where\u2019s the money going?<\/strong> The seven-year USD 100 mn loan aims to fund unidentified climate-friendly projects that include water treatment and efficiency, green buildings, renewables, and sustainable agriculture projects, Abdel Latif said.<\/p>\n<p><strong>REFRESHER- <\/strong>The loan expands on CIB\u2019s USD 100 mn green bond issuance in 2021, which saw the IFC <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ea5e3510-53bf-4f7b-b5ed-f3ae5b19eb31\">fully subscribe<\/a> to the bonds, according to Abdellatif. CIB said at the time that it would use the proceeds from the country\u2019s first-ever corporate green bond issuance to finance businesses looking to invest in green buildings, renewable energy, and other eco-friendly solutions.<\/p>\n<p><strong>More IFC funds coming CIB\u2019s way:<\/strong> The bank will also receive a 10-year USD 150 mn Tier 2 facility from the IFC to \u201cprovide capital support for the bank\u2019s sustainable growth plans,\u201d Abdel Latif says. It is unclear whether the funds will be used to scale CIB\u2019s growth plans or be used to greenify operations. According to the IFC\u2019s <a href=\"https:\/\/disclosures.ifc.org\/project-detail\/SII\/47310\/cib-sl-subdebt\">website<\/a>, CIB will \u201cuse the funding and capital support to grow its climate and MSME finance operation.\u201d The loans were agreed upon on 26 June, the website showed.<\/p>\n<p><strong>And that\u2019s not all:<\/strong> CIB is also in talks with other development financial institutions for additional green financing this year to \u201csupport our clients on their transition path,\u201d Abdel Latif said, without providing further details.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/cib\/\">CIB<\/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\/green-finance\/\">green finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/ifc\/\">IFC<\/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=\"78342\" 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=\"78342\">\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\">CAPITAL MARKETS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/09\/taqa-arabia-kicks-off-a-bumpy-day-of-trading-on-egypts-egx\/\">\r\n                            Taqa Arabia kicks off a bumpy day of trading on Egypt\u2019s EGX                        <\/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\/07\/09\/taqa-arabia-kicks-off-a-bumpy-day-of-trading-on-egypts-egx\/\" 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 EGX board decided to reverse all transactions carried out on the shares of the Qalaa Holdings energy distribution subsidiary and reset the company\u2019s share price to EGP 0.50 apiece, the bulletin read.<\/p>\n<p><strong>A bumpy start: <\/strong>The EGX board\u2019s decision came on the heels of a request by the transaction\u2019s broker, EFG Hermes, along with other brokerage companies to reverse all transactions that happened on the share saying that some 75 transactions worth EGP 395k were executed by mistake, according to <a href=\"https:\/\/ent.news\/2023\/7\/305.png\">a separate news bulletin<\/a>. These were compounded by another EGP 3.7 bn block transaction, leading the share price to close up 83,500% at EGP 418.5 apiece at the end of trading.<\/p>\n<p><strong>What we know about the listing:<\/strong> Taqa sold shares to public investors via a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f74bc612-225d-46ed-b938-e05bf7e980bf\">direct offering<\/a>, rather than going the conventional IPO route. Under the scheme, Taqa Arabia sold 1.35 mn shares at a nominal value of EGP 0.50 per share and an issued capital of EGP 676.1 mn, according to the statement.<\/p>\n<p><strong>Advisors<\/strong><strong>:<\/strong> EFG Hermes is quarterbacking the transaction, while Zulficar & Partners are providing counsel. Baker Tilly is the independent financial advisor and PwC is the auditor, according to <a href=\"https:\/\/ent.news\/2023\/7\/246.pdf\">a regulatory filing (pdf)<\/a> released last week.<\/p>\n<p><strong>About the company:<\/strong> Taqa Arabia is one of Egypt's leading energy distribution and utility companies, with operations spanning gas transmission and distribution, power, renewable energy, and water. The company\u2019s shares were valued at EGP 8.90 a piece, handing the company an EGP 12 bn (USD 393 mn) valuation, according to the regulatory filing, and has EGP 676.2 mn in capital split between 1.352 bn shares. Qalaa indirectly owns about 55% of the company, with the remaining shares reportedly split between at least 300 other shareholders.<\/p>\n<p><strong>Green project bonanza in Egypt:<\/strong> Taqa Arabia said in the statement that it plans to \u201cadvance its projects in the fields of clean and green energy across various governorates\u201d through the listing. Taqa Arabia is among 17 regional and international consortiums that <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/d1c572ed-19b8-4119-9e77-ab2ed628d2d9\">prequalified<\/a> recently for the tender process for several desalination plants in Egypt as part of the first phase of the government\u2019s desalination program. They are also part of a consortium conducting feasibility studies on new projects to setting up a <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/4b9ad0d5-1d50-40df-8fd1-9831cd23db5b\">USD 4 bn green hydrogen project<\/a> with France\u2019s Voltalia in Egypt, CEO Pakinam Kafafi told Asharq Business (<a href=\"https:\/\/twitter.com\/AsharqbEGY\/status\/1678026312898813954?s=20\">watch, runtime: 2:08<\/a>), adding that the first phase set to realize a 100 MW electrolyzer capacity.<\/p>\n<p><strong>T<\/strong><strong>aqa is also spreading regionally: <\/strong>The company plans to soon set up a company focused on new and renewable energy in Saudi Arabia, Kafafi told <a href=\"https:\/\/bit.ly\/43gMJ9N\">Mubasher<\/a> in an interview. Taqa Arabia is hoping to finalize procedures for establishing the company within a month, she added, saying a Gulf expansion is anticipated amid the region\u2019s accelerated renewable energy transition. Kafafi added that Taqa is also eyeing an East African expansion, especially in Mozambique.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/capital-markets\/\">CAPITAL MARKETS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/egx\/\">EGX<\/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\/taqa-arabia\/\">TAQA Arabia<\/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=\"78344\" 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=\"78344\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">CLIMATE DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/09\/ksa-france-expand-discussions-on-renewable-energy-and-hydrogen-cooperation\/\">\r\n                            KSA + France expand discussions on renewable energy and hydrogen cooperation                        <\/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\/07\/09\/ksa-france-expand-discussions-on-renewable-energy-and-hydrogen-cooperation\/\" 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\/07\/09\/ksa-france-expand-discussions-on-renewable-energy-and-hydrogen-cooperation\/')\">\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\/07\/09\/ksa-france-expand-discussions-on-renewable-energy-and-hydrogen-cooperation\/\">\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 + France expand discussions on renewable energy and hydrogen cooperation&url=https:\/\/enterpriseam.com\/climate\/2023\/07\/09\/ksa-france-expand-discussions-on-renewable-energy-and-hydrogen-cooperation\/\">\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\/07\/09\/ksa-france-expand-discussions-on-renewable-energy-and-hydrogen-cooperation\/&title=KSA + France expand discussions on renewable energy and hydrogen cooperation\">\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+France+expand+discussions+on+renewable+energy+and+hydrogen+cooperation+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F07%2F09%2Fksa-france-expand-discussions-on-renewable-energy-and-hydrogen-cooperation%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\/07\/09\/ksa-france-expand-discussions-on-renewable-energy-and-hydrogen-cooperation\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1460.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78345\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/09\/ksa-france-expand-discussions-on-renewable-energy-and-hydrogen-cooperation\/1460-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1460.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1460.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1460.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1460.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78344\" class=\"content-area-description single-story post-78344 post type-post status-publish format-standard has-post-thumbnail hentry category-climate-diplomacy tag-climate-diplomacy tag-enterpriseclimate tag-france tag-hydrogen tag-pakistan tag-renewables tag-saudi-arabia tag-south-korea tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a><strong> KSA + France energy cooperation framework is taking shape:<\/strong> Saudi Energy Minister Abdulaziz bin Salman met with his French counterpart Agnes Pannier-Runacher in Riyadh to discuss a previously signed energy agreement, the <a href=\"https:\/\/sp.spa.gov.sa\/viewstory.php?lang=en&newsid=2468901\">Saudi Press Agency<\/a> reports, citing a joint statement. Bin Salman and French Foreign Affairs Minister Catherine Colonna signed an MoU in <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/88c92852-db0e-4997-84df-8d4537e709f2\">February<\/a> to increase cooperation in renewable energy, energy efficiency and storage, and smart grids. The agreement was also designed to enhance collaboration in fields like climate change-mitigation tech and opened up avenues for cooperation between the two countries on nuclear energy use, clean hydrogen, and electricity interconnection.<\/p>\n<p><strong>Low-carbon hydrogen production will be taking center stage: <\/strong>Clean hydrogen and the technology fuelling its production will be a focus area within the agreement, the statement notes. Enhanced cooperation between the two countries on the tech behind hydrogen production, transmission, and distribution stages will aim to advance the rollout of renewable energy and low-carbon hydrogen. Increased business cooperation is also included in the agreement\u2019s scope to facilitate more private sector investments to unlock future hydrogen partnerships. Finally, regulation will also play a large role within the agreement, with the two countries intending to draft a roadmap to establish a common certification for emission life cycle assessments to boost hydrogen trading.<\/p>\n<p><strong>France has been ramping up its investments in Saudi this year:<\/strong> French oil and gas giant TotalEnergies joined a Saudi-Japanese consortium to build a <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/0ad08aa7-b135-42e8-b7d5-5b5536dbc523\">119 MW solar plant<\/a> in Saudi Arabia costing a total of USD 100 mn earlier this month. A JV between TotalEnergies and KSA\u2019s Zahid Group is <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/d7079796-2c56-4e26-be90-a276e2f06f12\">involved<\/a> in a variety of large solar projects in different regions in KSA, eyeing growth in wind projects, and looking at partnerships with local players to build the circular economy through projects in plastic recycling and used cooking oil. On the sidelines of the France-Saudi Arabia Investment Forum in June, Saudi Arabia and France signed <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/97f1b7ac-95b5-452f-bac5-2077918cd785\">24 preliminary agreements<\/a> worth USD 2.9 bn in a number sectors including low-carbon energy.<\/p>\n<p><strong>IN OTHER CLIMATE DIPLO NEWS- The UAE is expanding renewables cooperation with <\/strong><strong>Pakistan and South Korea: <\/strong>UAE's Energy Ministry signed an MoU with Pakistan to boost UAE renewable energy investments in the Southeast Asian country, COP28 <a href=\"https:\/\/twitter.com\/COP28_UAE\/status\/1677027804507000834\">said<\/a> on Thursday. COP28 President-Designate Sultan Al Jaber attended the signing ceremony, which took place on the sidelines of a meeting discussing the COP28 agenda, climate financing, and operationalising the loss and damage fund, amongst other topics, <a href=\"https:\/\/wam.ae\/en\/details\/1395303175404\">Wam<\/a> reported. The UAE also agreed with South Korea to expand economic cooperation in 11 strategic sectors at the UAE-South Korea Joint Economic Committee, including in the green economy and clean energy, <a href=\"https:\/\/en.yna.co.kr\/view\/AEN20230707004500320\">Yonhap News Agency<\/a> reported on Friday.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-diplomacy\/\">CLIMATE DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/france\/\">France<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/hydrogen\/\">hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/pakistan\/\">Pakistan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/south-korea\/\">South Korea<\/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=\"78346\" 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=\"78346\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/09\/78346\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78346\" class=\"content-area-description single-story post-78346 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\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=\"78347\" 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=\"78347\">\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\">INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/09\/bp-invests-usd-10-mn-in-us-startup-planning-a-uae-based-biofuels-plant\/\">\r\n                            BP invests USD 10 mn in US startup planning a UAE-based biofuels plant                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/09\/bp-invests-usd-10-mn-in-us-startup-planning-a-uae-based-biofuels-plant\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/climate\/2023\/07\/09\/bp-invests-usd-10-mn-in-us-startup-planning-a-uae-based-biofuels-plant\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/climate\/2023\/07\/09\/bp-invests-usd-10-mn-in-us-startup-planning-a-uae-based-biofuels-plant\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=BP invests USD 10 mn in US startup planning a UAE-based biofuels plant&url=https:\/\/enterpriseam.com\/climate\/2023\/07\/09\/bp-invests-usd-10-mn-in-us-startup-planning-a-uae-based-biofuels-plant\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/climate\/2023\/07\/09\/bp-invests-usd-10-mn-in-us-startup-planning-a-uae-based-biofuels-plant\/&title=BP invests USD 10 mn in US startup planning a UAE-based biofuels plant\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=BP+invests+USD+10+mn+in+US+startup+planning+a+UAE-based+biofuels+plant+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F07%2F09%2Fbp-invests-usd-10-mn-in-us-startup-planning-a-uae-based-biofuels-plant%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/09\/bp-invests-usd-10-mn-in-us-startup-planning-a-uae-based-biofuels-plant\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/5204.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78348\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/09\/bp-invests-usd-10-mn-in-us-startup-planning-a-uae-based-biofuels-plant\/5204-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/5204.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"5204.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/5204.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/5204.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78347\" class=\"content-area-description single-story post-78347 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-biofuels tag-enterpriseclimate tag-investment-watch tag-uae tag-waste-management tag-waste-to-energy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a><strong> BP invests in WasteFuel on WtE ambitions:<\/strong> British oil and gas company BP invested USD 10 mn in WasteFuel\u2019s series B funding round in a bid to help the US-based biofuel company establish its first waste-to-energy (WtE) production facility in Dubai, according to a <a href=\"https:\/\/www.bp.com\/en\/global\/corporate\/news-and-insights\/press-releases\/bp-expands-investment-in-bioenergy-collaborating-with-us-biofuels-developer-wastefuel.html\">statement<\/a> released on Thursday. BP also signed an agreement to offtake the bio-methanol that WasteFuel would generate as part of its targets to decarbonize shipping and produce c.100k barrels of the green fuel per day by 2030.<\/p>\n<p><strong>We had a clue this was in the works: <\/strong>WasteFuel <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/952ee209-52e7-435e-860b-caf16ba6251b\">inked an agreement<\/a> with UAE-based waste management company Averda last November to set up a commercial-scale biofuels production facility in MENA, agreeing to source the non-recyclable waste it would use to generate low-carbon fuels from Averda. At the time, the plant\u2019s location was not determined, but was expected to be located in the UAE\u2019s Jebel Ali.<\/p>\n<p><strong>And they have big plans:<\/strong> The company plans to develop multiple bio-methanol plants globally by setting up local strategic partnerships including waste companies, the statement notes.<\/p>\n<p><strong>About WasteFuel: <\/strong>Founded in 2018, the company has raised USD 28.7 mn to date over three funding rounds, according to <a href=\"https:\/\/www.crunchbase.com\/organization\/wastefuel\">Crunchbase<\/a>. The startup\u2019s WtE generation tech involves the treatment and conversion of agricultural and municipal waste into biomethanol and other green fuels that would \u201cachieve up to 90% reductions in CO2 emissions and other greenhouse gasses and pollutants compared to conventional fuels,\u201d it <a href=\"https:\/\/www.wastefuel.com\/averda-wastefuel-partnership-middle-east?utm_source=linkedin&utm_medium=social&utm_campaign=Averda_Partnership\">noted<\/a> last week. Its new agreement with BP will see them partner on upscaling bio-methanol production tech, the statement notes.<\/p>\n<p><strong>Maersk and NetJets are backing the company:<\/strong> In 2021, the world\u2019s largest private jet company NetJets and Danish shipping firm Maersk <a href=\"https:\/\/www.maersk.com\/news\/articles\/2021\/09\/08\/maersk-invests-in-wastefuel-to-develop-green-bio-methanol\">invested<\/a> undisclosed sums in the US startup to help scale up the company\u2019s operations in Asia and the Americas. WasteFuel plans to kickoff operations on its planned biorefinery in the Philippines by 2025, and has plans to develop others in emerging countries in coming years, NetJets <a href=\"https:\/\/www.netjets.com\/en-us\/waste-fuel-sustainable-aviation-partnership\">notes<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/biofuels\/\">biofuels<\/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\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/waste-management\/\">waste management<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/waste-to-energy\/\">WASTE TO 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=\"78349\" 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=\"78349\">\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\">SOLAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/09\/project-update-red-sea-global-installs-750k-solar-panels-for-red-sea-project\/\">\r\n                            Project update: Red Sea Global installs 750k solar panels for Red Sea Project                        <\/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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update: Red Sea Global installs 750k solar panels for Red Sea Project\">\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=Project+update%3A+Red+Sea+Global+installs+750k+solar+panels+for+Red+Sea+Project+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F07%2F09%2Fproject-update-red-sea-global-installs-750k-solar-panels-for-red-sea-project%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\/07\/09\/project-update-red-sea-global-installs-750k-solar-panels-for-red-sea-project\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/1016.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78350\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/09\/project-update-red-sea-global-installs-750k-solar-panels-for-red-sea-project\/1016-jpeg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/1016.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1016.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/1016.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/1016.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78349\" class=\"content-area-description single-story post-78349 post type-post status-publish format-standard has-post-thumbnail hentry category-solar tag-enterpriseclimate tag-red-sea-global tag-renewables tag-saudi-arabia tag-solar tag-solar-energy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Energy infrastructure under construction for KSA\u2019s Red Sea Project:<\/strong> Red Sea Global, a global multi-project developer fully owned by Saudi Arabia\u2019s sovereign wealth fund the Public Investment Fund, has installed 750k solar panels and five solar stations for the first phase of the kingdom\u2019s luxury <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/4462380b-8c5d-4073-9989-79f8893efd61\">Red Sea Project<\/a> (RSP), <a href=\"https:\/\/sp.spa.gov.sa\/viewstory.php?lang=en&newsid=2468635\">SPA<\/a> reported on Friday.<\/p>\n<p><strong>What we know: <\/strong>ILF Consulting Engineers was tapped as an independent engineer for the construction of RSP\u2019s USD 1.5 bn net-carbon multi-utility system <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/4462380b-8c5d-4073-9989-79f8893efd61\">last April<\/a>, is set to power 16 hotels, retail and entertainment venues with renewable energy.<\/p>\n<p><strong>The details: <\/strong>The renewable energy for the project will be generated through a 340 MW solar plant, a 1.2 GWh battery energy storage system (BESS) facility and an internal combustion engine with a capacity of 108.98 MW capacity. Potable water will be delivered using a seawater reverse osmosis (SWRO) desalination plant, with district cooling made possible with a capacity of 32.5k refrigeration tons.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/red-sea-global\/\">Red Sea Global<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/solar\/\">SOLAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/solar-energy\/\">solar energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"78351\" 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=\"78351\">\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\">POLICY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/09\/usaid-backed-power-tunisia-to-provide-subsidies-for-the-countrys-renewables-transition\/\">\r\n                            USAID-backed Power Tunisia to provide subsidies for the country\u2019s renewables transition                        <\/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\/07\/09\/usaid-backed-power-tunisia-to-provide-subsidies-for-the-countrys-renewables-transition\/\" target=\"_blank\">\n                    Open in new tab      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href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/09\/usaid-backed-power-tunisia-to-provide-subsidies-for-the-countrys-renewables-transition\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1461.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78352\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/09\/usaid-backed-power-tunisia-to-provide-subsidies-for-the-countrys-renewables-transition\/1461-jpeg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1461.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1461.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1461.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1461.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78351\" class=\"content-area-description single-story post-78351 post type-post status-publish format-standard has-post-thumbnail hentry category-policy tag-carbon-offsetting tag-climate-policy tag-enterpriseclimate tag-renewables tag-tunisia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>A helping hand for Tunisia\u2019s green transition: <\/strong>The USAID-backed Tunisian Private Sector Energy Transition Support Program (Power Tunisia) is set to offer subsidies and technical assistance to private companies in the country to help back their green transition, <a href=\"https:\/\/www.tap.info.tn\/en\/Portal-Economy\/16431513-power-tunisia-two\">Tunis Africa Press Agency<\/a> (TAP) reported last week.<\/p>\n<p><strong>Who is involved: <\/strong>Two agreements were signed last Wednesday between Power Tunisia and the <a href=\"https:\/\/worldgbc.org\/gbc\/tunisia-green-building-council\/\">Tunisia Green Building Council<\/a> and the <a href=\"http:\/\/cspv.tn\/\">Chambre Syndicale du Photovolta\u00efque de Tunisie<\/a>, Deputy Project Manager of Power Tunisia Sam Losow <a href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7083125724554870784\/\">said<\/a>.<\/p>\n<p><strong>What we know: <\/strong>The two agreements will help promote the development of innovative solutions for the accessibility of clean energy for industrial facilities, commercial establishments, agricultural businesses, among others, according to TAP. They would also pave the way for the joint development of programs and campaigns to spur energy efficiency practices and raise awareness about energy saving.<\/p>\n<p><strong>All part of a bigger scheme:<\/strong> Power Tunisia aims to expedite the adoption of renewable energy solutions for Tunisian companies through the deployment of 70 MW of renewable energy and lowering greenhouse gas emissions by one mn metric tons per year, Losow said. The project would pave the way to raise USD 40 mn for investments in clean energies with support directed to over 1.75k Tunisian companies, he said. The program will target leading enterprises with projects estimated at USD 2 mn, medium-sized enterprises ranging from USD 20k to USD 2 mn and small-sized enterprises with projects valued at lower than USD 20k.<\/p>\n<p><strong>It's all needed on the road to decarbonization:<\/strong> The new subsidies program would allow private sector businesses to slash energy bills and raise competitiveness and profitability while adhering to the EU's <a href=\"https:\/\/taxation-customs.ec.europa.eu\/carbon-border-adjustment-mechanism_en\">Carbon Border Adjustment Mechanism<\/a> starting from 2026. According to TAP, Tunisian steel, cement, fertilizer, and aluminum companies exporting to Europe will have to declare their carbon emissions starting October 2023. They will have to obtain carbon certificates or pay financial adjustments later when the mechanism comes into force in 2026.<\/p>\n<p><strong>REMEMBER- <\/strong>Tunisia aims to increase the share of renewables in its <a href=\"https:\/\/www.enerdata.net\/publications\/daily-energy-news\/tunisia-raises-renewable-target-power-mix-35-starts-2-gw-tenders.html\">energy mix to 35%<\/a> by 2030, equivalent to an additional installed capacity of approximately 4 GW. It also plans to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ce51b4cc-5bad-4809-867e-c6eddaf29032\">become carbon neutral<\/a> by 2050 under the country\u2019s energy strategy for 2035, according to officials. Tunisia has unconditionally committed to pushing down its emissions from 2010 levels by 27% by 2030, and has set a conditional target to slash its emissions by 45% compared to 2010 by the end of the decade if it receives additional international support, according to the <a href=\"https:\/\/climatepromise.undp.org\/what-we-do\/where-we-work\/tunisia\">UNDP<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/carbon-offsetting\/\">carbon offsetting<\/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\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"78353\" 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=\"78353\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/09\/jordan-and-oman-get-more-waste-treatment-for-neoms-green-hydrogen-project-can-officially-proceed-and-theres-more-uae-desalination-projects-coming\/\">\r\n                            Jordan and Oman get more waste treatment for, Neom\u2019s green hydrogen project can officially proceed, and there\u2019s more UAE desalination projects coming                        <\/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\/07\/09\/jordan-and-oman-get-more-waste-treatment-for-neoms-green-hydrogen-project-can-officially-proceed-and-theres-more-uae-desalination-projects-coming\/\" 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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USD 10.7 mn) agreement for a treated water carrier project backed by Germany's Development Bank (KfW), according to a <a href=\"https:\/\/bit.ly\/3PW0KGS\">statement<\/a>. The project in Irbid would provide 10 mn cubic meters of treated water annually under efforts by the government to expand the kingdom\u2019s sanitation and irrigation services. It would also help slash greenhouse gas emissions by 6.6k tons annually, the statement notes.<\/p>\n<p><strong>A new waste management plant in Oman<\/strong>: Oman\u2019s Sohar Port and Freezone signed a land lease agreement with Elite Hazardous Waste Management Solution (FZC) to build a USD 3.5 mn hazardous waste treatment plant in the zone, according to a <a href=\"https:\/\/soharportandfreezone.om\/en\/media\/news-events\/5544\">statement<\/a> on Saturday. The plant, which will span an area of 10k sqm, will treat industrial waste to produce heavy oil for use in slow-moving machines and a low-contamination carbon dust fit for cement and road construction industries. It is set to have an initial production capacity of 40 tons per day, with the capacity slated to increase to 80 tons per day within one year.<\/p>\n<p><strong>Neom\u2019s mega hydrogen plant is officially underway:<\/strong> KSA\u2019s Neom Green Hydrogen Company (NGHC) \u2014 an affiliate of Saudi renewables giant Acwa Power \u2014 says its planned mega hydrogen project is officially underway after the execution of all related agreements, according to a <a href=\"https:\/\/bit.ly\/3pyx0Fx\">disclosure<\/a> to Tadawul on Thursday. It said the notice to proceed (NTP) was issued after shareholders agreed to manage defined risks related to the engineering, procurement, and construction (EPC) of the project.<\/p>\n<p><strong>More UAE desalination projects incoming:<\/strong> UAE state-owned Emirates Water and Electricity Company has issued requests for proposals (RFPs) for the Abu Dhabi Islands Reverse Osmosis (RO) Independent Water Project, <a href=\"https:\/\/wam.ae\/en\/details\/1395303174719\">Wam<\/a> reported last week. The low-carbon desalination facility will have a daily conversion capacity of 455k cubic meters. Nineteen companies out of the 41 firms that expressed interest in developing the project have qualified for the RFP phase, the news agency reports.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li>Building materials supplier <strong>Cemex UAE<\/strong> has signed an agreement with UAE-based construction company <strong>Concrete Industries Complex<\/strong> to supply a range of <strong>low-carbon <\/strong>and <strong>net-zero raw construction materials<\/strong>. (<a href=\"https:\/\/www.zawya.com\/en\/projects\/construction\/cemex-uae-and-cic-partner-to-decarbonise-concrete-production-nm65199n\">Zawya<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/desalination\/\">DESALINATION<\/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\/jordan\/\">Jordan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/neom\/\">Neom<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/oman\/\">Oman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/waste-management\/\">waste management<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/wastewater-treatment\/\">wastewater treatment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"78355\" 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=\"78355\">\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\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/09\/canada-is-on-track-to-have-the-worlds-largest-nuclear-facility\/\">\r\n                            Canada is on track to have the world\u2019s largest nuclear facility                        <\/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\/07\/09\/canada-is-on-track-to-have-the-worlds-largest-nuclear-facility\/\" 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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It will conduct an environmental assessment to add c. 4.8 GW of capacity at its current facility in Ontario. Its eight reactors currently have a capacity of 6.2 GW and supply 30% of the province\u2019s energy. The expansion of the facility would make the project larger than Japan\u2019s <a href=\"https:\/\/www.power-technology.com\/projects\/kashiwazaki\/\">Kashiwazaki-Kariwa plant<\/a>, which is currently the biggest globally with seven reactors and over 8 GW of capacity.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>India<\/strong> may outline mandates for <strong>green hydrogen <\/strong>use by industries after consultations, according to its renewable energy secretary Bhupinder Singh Bhalla. (<a href=\"https:\/\/www.reuters.com\/business\/energy\/india-may-set-mandates-green-hydrogen-use-by-industries-official-2023-07-07\/\">Reuters<\/a>)<\/li>\n<li><strong>Deforestation<\/strong> in <strong>Brazil's Amazon<\/strong> dropped to its lowest level in four years with a 34% decline in the first half of 2023, according to preliminary data. (<a href=\"https:\/\/www.reuters.com\/business\/environment\/deforestation-brazils-amazon-drops-34-first-half-2023-2023-07-06\/\">Reuters<\/a>)<\/li>\n<li>US-based <strong><a href=\"https:\/\/www.duke-energy.com\/\">Duke Energy<\/a><\/strong> will sell its <strong>commercial decentralized energy <\/strong><strong>generation business<\/strong> to US investment firm <strong><a href=\"https:\/\/arclight.com\/\">ArcLight<\/a><\/strong> to finance incorporating <strong>30 GW of green energy <\/strong>across its operations. (<a href=\"https:\/\/www.reuters.com\/markets\/deals\/duke-energy-sell-distributed-generation-portfolio-364-mln-deal-2023-07-05\/\">Reuters<\/a>)<\/li>\n<li>Denmark\u2019s largest labor market pension fund <strong>PensionDanmark<\/strong> will invest up to DKK 7 bn (c. USD 1 bn) in the <strong>Port of Esbjerg<\/strong>\u2019s <strong>green transition<\/strong>. (<a href=\"https:\/\/www.pensiondanmark.com\/en\/press\/news\/2023\/pensiondanmark-and-the-port-of-esbjerg-enter-cooperation-agreement-on-investments-in-development-projects-at-the-port-of-esbjerg\/\">Statement<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/around-the-world\/\">AROUND THE WORLD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/canada\/\">Canada<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/nuclear-energy\/\">Nuclear 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=\"78357\" 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=\"78357\">\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\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/09\/can-capitalizing-on-soils-natural-carbon-sink-qualities-massively-cut-emissions\/\">\r\n                            Can capitalizing on soil\u2019s natural carbon sink qualities massively cut emissions?                        <\/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\/07\/09\/can-capitalizing-on-soils-natural-carbon-sink-qualities-massively-cut-emissions\/\" 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\/07\/09\/can-capitalizing-on-soils-natural-carbon-sink-qualities-massively-cut-emissions\/')\">\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\/07\/09\/can-capitalizing-on-soils-natural-carbon-sink-qualities-massively-cut-emissions\/\">\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=Can capitalizing on soil\u2019s natural carbon sink qualities massively cut emissions?&url=https:\/\/enterpriseam.com\/climate\/2023\/07\/09\/can-capitalizing-on-soils-natural-carbon-sink-qualities-massively-cut-emissions\/\">\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\/07\/09\/can-capitalizing-on-soils-natural-carbon-sink-qualities-massively-cut-emissions\/&title=Can capitalizing on soil\u2019s natural carbon sink qualities massively cut emissions?\">\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=Can+capitalizing+on+soil%E2%80%99s+natural+carbon+sink+qualities+massively+cut+emissions%3F+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F07%2F09%2Fcan-capitalizing-on-soils-natural-carbon-sink-qualities-massively-cut-emissions%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\/07\/09\/can-capitalizing-on-soils-natural-carbon-sink-qualities-massively-cut-emissions\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/269.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78358\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/09\/can-capitalizing-on-soils-natural-carbon-sink-qualities-massively-cut-emissions\/269-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/269.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"269.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/269.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/269.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78357\" class=\"content-area-description single-story post-78357 post type-post status-publish format-standard has-post-thumbnail hentry category-on-your-way-out tag-climate-change tag-enterpriseclimate tag-on-your-way-out tag-sustainability 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-10\"><\/a> <strong>Tweaking agricultural practices could help store some 31 gigatons of greenhouse <\/strong><strong>gasses per year and avoid surpassing the 1.5<\/strong><strong>\u00b0<\/strong><strong>C warming threshold<\/strong>, <a href=\"https:\/\/www.theguardian.com\/environment\/2023\/jul\/04\/improving-farming-soil-carbon-store-global-heating-target\">The Guardian<\/a> writes, referencing new research by former chief scientist at the UN environment program Jacqueline McGlade. Increasing agricultural soil carbon-storage capacities by just 1% across half of global farming soils could help plug the <a href=\"https:\/\/www.unep.org\/resources\/emissions-gap-report-2022?gclid=CjwKCAjw-vmkBhBMEiwAlrMeF2RXxBC0am9tu8mkEYC6-UkrODFNYXy2sWMghns7-fJxaW996PRXNhoCirgQAvD_BwE\">32 gigaton emissions gap<\/a> between current CO2 slashing targets and the carbon volumes that must be cut by 2030 to remain within the 1.5\u00b0C warming limit, the news outlet notes.<\/p>\n<p><strong>Soil is a major natural carbon sink:<\/strong> The planet\u2019s soils store some 2.5k gigatons of CO2, containing more carbon than all plant life, which is more than three times the volumes of CO2 in the atmosphere, according to <a href=\"https:\/\/news.climate.columbia.edu\/2018\/02\/21\/can-soil-help-combat-climate-change\/#:~:text=The%20Earth's%2520soils%2520contain%2520about,all%2520living%2520plants%2520and%2520animals.\">research<\/a> out of Columbia University,<\/p>\n<p><strong>How can we get soil to store even more carbon?<\/strong> The research suggests that a divestment from artificial fertilizer usage in the top 30 centimeters of about 50% global farming soils would improve crop yields and enhance soil carbon storage capacity.<\/p>\n<p><strong>Fertilizers aren\u2019t helping with dangerous emissions: <\/strong>According to researchers at the Massachusetts Institute of Technology, synthetic fertilizers have led to an <a href=\"https:\/\/climate.mit.edu\/explainers\/fertilizer-and-climate-change\">uptick in greenhouse gas emissions<\/a> in the last century. Ammonia fertilizers consume a lot of energy to be manufactured resulting in increased carbon dioxide emissions and crops only use approximately half of the nitrogen from fertilizers, with the rest broken down by microbes in the soil to release the potent greenhouse gas nitrous oxide back into the atmosphere.<\/p>\n<p><strong>By the numbers<\/strong>: According to a <a href=\"https:\/\/reliefweb.int\/report\/world\/oecd-fao-agricultural-outlook-2023-32-maps-key-output-consumption-and-trade-trends\">recent report<\/a> by the Food and Agriculture Organization of the Organisation for Economic Co-operation and Development, greenhouse gas emissions from agriculture are projected to rise by 7.5% in the next decade, representing less than half of the projected output growth. This signals a major drop in the carbon intensity of agricultural production, it said. Livestock is set to account for 86% of the increased emissions over the decade.<\/p>\n<p><strong>A price tag with carbon credits: <\/strong>Restoring some 40k hectares of degraded soil in Kenya, for example, would cost some USD 1 mn, according to McGlade. While farmers would pay a pretty penny in the first two-three years of shifting away from over usage of fertilizers, the new technique\u2019s enhanced carbon-storage capacity could turn their farmlands carbon-negative, enabling them to sell the CO2 their lands absorb in the form of carbon credits in the future.<\/p>\n<p><strong>The EU already has plans to push down pesticide and artificial fertilizer use: <\/strong>Last week, the EU proposed draft legislation to reduce restrictions on genetically-modified crops that would be climate-tolerant and consume fewer volumes of artificial fertilizers, <a href=\"https:\/\/www.reuters.com\/markets\/commodities\/eu-seeks-revised-gmo-rules-loosen-curbs-gene-edited-crops-2023-07-05\/\">Reuters<\/a>reported.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/on-your-way-out\/\">ON YOUR WAY OUT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/sustainability\/\">sustainability<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"78359\" 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\/07\/09\/78359\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78359\" class=\"content-area-description single-story post-78359 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>15-16 July (Saturday-Sunday): <a href=\"https:\/\/unfccc.int\/event\/LD_wksp2\">Second COP27 transitional committee workshop<\/a>, Bangkok, Thailand.<\/p>\n<p>18-19 July (Tuesday-Wednesday): <a href=\"https:\/\/www.egyptminingforum.com\/\">Egypt Mining Forum<\/a>, Cairo, Egypt.<\/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>5-7 September (Tuesday-Thursday): <a href=\"https:\/\/www.gweccc.com\/assets\/PDF\/GWECCC%202023_EVENT%20BROCHURE.pdf\">Global Water, Energy and Climate Change Congress<\/a>(GWECCC), Manama, Bahrain.<\/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\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":78336,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-78335","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"ff6f9903-6f0d-4e7e-a71c-335584ad2f18","teaser":"","photo_url":"https:\/\/ent.news\/2020\/11\/325.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>Egypt\u2019s CIB will receive USD 100 mn from IFC to boost climate financing - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/issues\/egypts-cib-will-receive-usd-100-mn-from-ifc-to-boost-climate-financing\/\" \/>\n<meta property=\"og:locale\" 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