{"id":78406,"date":"2023-07-12T01:00:27","date_gmt":"2023-07-12T01:00:27","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=78406"},"modified":"2025-12-15T09:13:45","modified_gmt":"2025-12-15T09:13:45","slug":"ksas-snb-capital-acquires-a-stake-worth-usd-100-mn-in-korean-ev-battery-manufacturer","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/ksas-snb-capital-acquires-a-stake-worth-usd-100-mn-in-korean-ev-battery-manufacturer\/","title":{"rendered":"KSA\u2019s SNB Capital acquires a stake worth USD 100 mn in Korean EV battery manufacturer"},"content":{"rendered":"<section id=\"78408\" 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=\"78408\">\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\/12\/today-ksas-snb-capital-acquires-a-stake-in-ev-battery-manufacturer-sk-on\/\">\r\n                            TODAY: KSA\u2019s SNB Capital acquires a stake in EV battery manufacturer SK On                        <\/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\/12\/today-ksas-snb-capital-acquires-a-stake-in-ev-battery-manufacturer-sk-on\/\" 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 proceeds from the acquisition will be used to further the Korean company\u2019s expansion plans.<\/p>\n<p><strong>^^ We have more details on this story and more in the news well, below. <\/strong><\/p>\n<p><strong>THE BIG CLIMATE STORY OUTSIDE THE REGION- With no single climate story <\/strong><strong>dominating international headlines this morning<\/strong>, the European Commission unveiled new measures yesterday aimed at slashing emissions for freight transportation as part of the bloc\u2019s net zero emissions strategy, <a href=\"https:\/\/www.reuters.com\/sustainability\/eu-commission-plans-make-freight-transport-greener-new-measures-2023-07-11\/\">Reuters<\/a> reports. The proposal includes new incentives for zero-emission vehicles and offers access to better tools to help companies calculate their carbon footprint. Such measures will help the EU reach its goal of slashing transport emissions by 90% by 2050. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-07-11\/eu-unveils-measures-to-make-freight-transport-more-sustainable\">Bloomberg<\/a> also took note of the story.<\/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><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>WATCH THIS SPACE #1- UAE is upping its emission cuts game: <\/strong>The UAE has raised its target for slashing carbon emissions to 40% by 2030, up from its previous 31% target, according to a <a href=\"https:\/\/www.zawya.com\/en\/press-release\/government-news\/uae-accelerates-to-net-zero-with-nationwide-emissions-reduction-of-40-by-2030-in-proactive-third-update-to-second-ndc-r0deu47n\">statement<\/a>. The target is part of a third update of the Gulf country\u2019s Nationally Determined Contribution (NDCs). Net greenhouse gas emissions are set to be lowered to 182 metric tons of carbon dioxide equivalent (MtCO2e) by 2030 as announced in the updated second NDC in 2022, the statement said. The target is down from an expected 208 MtCO2e with an emissions reduction of c.19% compared to 2019 base year level.<\/p>\n<p><strong>REMEMBER- The country signed off on an ambitious renewables strategy recently:<\/strong> The UAE government approved its updated National Energy Strategy <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/323aa611-e4ad-4b79-9356-756cbe0a1e35\">earlier this month<\/a> increasing the country\u2019s 2030 renewable capacity goal to 14 GW from 9.2 GW. The new goal represents triple the currently installed renewable energy capacity and will require AED 150-200 bn (around USD 41-55 bn) in funding. The strategy also includes a goal of making renewables account for 30% of the country\u2019s energy mix by 2031, netting AED 100 bn (USD 27 bn) in financial savings by 2030.<\/p>\n<p><strong>ALSO- Could we be seeing more renewables cooperation between the UAE and Japan? <\/strong>The UAE and Japan are discussing tech cooperation to boost regional decarbonization efforts by using green hydrogen and ammonia, <a href=\"https:\/\/japannews.yomiuri.co.jp\/science-nature\/climate-change\/20230711-121974\/\">The Japan News<\/a> reports, citing several unnamed governmental sources. The sources said UAE President Mohammed bin Zayed Al Nahyan and Japanese PM Fumio Kishida are expected to approve the agreement at a summit meeting in the UAE next week. The agreement would outline a plan to develop technologies to produce next-generation energy sources like hydrogen and ammonia. Kishida and a delegation of executives from 30 Japanese companies are expected to visit the UAE, Saudi Arabia, and Qatar between Sunday, 16 July and Wednesday, 19 July, according to the media outlet.<\/p>\n<hr class=\"grey-line\">\n<p><strong>WATCH THIS SPACE #2- Future of critical mineral supply looking bright on the <\/strong><strong>back of investment surge:<\/strong> The supply of critical minerals could approach the levels that are needed to back climate pledges by 2030 following an investment drive, according to a <a href=\"https:\/\/iea.blob.core.windows.net\/assets\/afc35261-41b2-47d4-86d6-d5d77fc259be\/CriticalMineralsMarketReview2023.pdf\">new International Energy Agency (IEA) report (pdf)<\/a>. Investments in critical mineral development rose by 30% in 2022 after a 20% y-o-y increase a year earlier amid increased spending on critical minerals by mining players to back clean energy deployment. The IEA expects the supply of lithium, a major component of EV batteries, to reach 420k metric tons by 2030, which is slightly below the 443k needed to meet announced government pledges. However, this is still well below the 702k necessary for a net zero scenario. The market size of key energy transition minerals doubled over the past five years, hitting USD 320 mn last year on the back of rising demand and elevated prices.<\/p>\n<p><strong>REMEMBER-<\/strong> Copper, cobalt, nickel, and lithium \u2014 <a href=\"https:\/\/www.iea.org\/reports\/the-role-of-critical-minerals-in-clean-energy-transitions\/mineral-requirements-for-clean-energy-transitions\">critical minerals<\/a> for EV and battery storage production \u2014 are expected to see a massive jump in demand in the coming years as countries roll out their plans for energy transition.<\/p>\n<p><strong>Mining investments are picking up regionally:<\/strong> Saudi Arabia\u2019s Public Investment Fund (PIF) was recently named <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/3568d992-3c1b-40d3-9bd4-c0076b4ed0a4\">the leading bidder<\/a> for a stake in Brazilian miner Vale\u2019s nickel and copper operations. PIF is reportedly seeking a 10% stake in Vale\u2019s base metals unit at an estimated value of c. USD 2.5 bn. Oman is also in on the bonanza, with its copper mining firm Al Hadeetha Resources <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/8b781f90-be11-48f0-84bc-585c5bd19177\">recently securing<\/a> USD 15 mn in additional financing from its current project finance lender Sohar International Bank for the completion and commissioning of its Al Washi-hi Majaza copper-gold project. Last April, Luxembourg-based Eurasian Resources Group said it is looking to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/13d1fa10-4593-42b2-907b-21886b72947f\">build up a portfolio of energy transition minerals<\/a> by investing in mining activities in MENA and the GCC.<\/p>\n<hr class=\"grey-line\">\n<p><strong>WATCH THIS SPACE #3- Global energy demand is expected to grow by 23% by <\/strong><strong>2045<\/strong>, <a href=\"https:\/\/www.reuters.com\/business\/energy\/opec-sec-gen-global-energy-demand-seen-rising-23-through-2045-2023-07-11\/\">Reuters<\/a> reports, citing statements by OPEC Secretary General Haitham Al Ghais during a Nigeria-hosted oil and gas conference. Al Ghais said calls to lower or stop the funding of new oil projects are not realistic, but acknowledged the need to use technology to address fossil fuel emissions. \u201cGlobal primary energy demand is forecast to increase by a significant 23% in the period up to 2045, which means we will need all forms of energy,\u201d he said. \u201cWe will require innovative solutions such as carbon capture utilization and storage, and hydrogen projects in addition to a circular carbon economy, which has received a positive endorsement from the G20.\u201d<\/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><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\/carbon-offsetting\/\">carbon offsetting<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/minerals\/\">minerals<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/mining\/\">MINING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"78410\" 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\/\" 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href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/12\/ksas-snb-capital-acquires-an-undisclosed-stake-worth-usd-100-mn-in-korean-ev-battery-manufacturer-sk-on\/\">\r\n                            KSA\u2019s SNB Capital acquires an undisclosed stake worth USD 100 mn in Korean EV battery manufacturer SK On                        <\/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\/12\/ksas-snb-capital-acquires-an-undisclosed-stake-worth-usd-100-mn-in-korean-ev-battery-manufacturer-sk-on\/\" target=\"_blank\">\n                    Open in new tab        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   <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/12\/ksas-snb-capital-acquires-an-undisclosed-stake-worth-usd-100-mn-in-korean-ev-battery-manufacturer-sk-on\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/1037.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78412\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/12\/ksas-snb-capital-acquires-an-undisclosed-stake-worth-usd-100-mn-in-korean-ev-battery-manufacturer-sk-on\/1037-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/1037.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1037.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/1037.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/1037.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78411\" class=\"content-area-description single-story post-78411 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-electric-vehicles tag-enterpriseclimate tag-evs tag-ma-watch tag-saudi-arabia tag-sk-on tag-snb-capital tag-south-korea 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>Saudi Arabia\u2019s SNB Capital has acquired an undisclosed stake worth USD 100 mn <\/strong><strong>in Korean battery manufacturer SK On<\/strong>, according to a <a href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/the-snb-capital-ev-batteries-fund-succssfully-acquired-a-stake-in-sk-on-amounted-at-usd-100mln-eb2mboe8\">statement<\/a>. The stake was acquired through the Saudi financial institution\u2019s SNB Capital EV Batteries fund.<\/p>\n<p><strong>Where the funds are going: <\/strong>The proceeds from the acquisition will be used to further the Korean company\u2019s expansion plans, the statement said. It will also help boost its production capacity with part of the proceeds channeled towards research and development.<\/p>\n<p><strong>We knew something of the sort was in the works: <\/strong>SK On said <a href=\"https:\/\/skinnonews.com\/global\/archives\/14491\">in May<\/a> that SNB Capital was in discussions to invest in the Korean manufacturer through the Korea Investment PE EastBridge Consortium and plans to invest up to USD 144 mn in the company.<\/p>\n<p><strong>A smart investment: <\/strong>SK On is one of the leading EV battery makers globally, supplying batteries to automakers such as Ford, Hyundai, Volkswagen, and Mercedes-Benz from its plants in Asia, Europe, and America, according to the statement.<\/p>\n<p><strong>The Saudis are backing EVs big time:<\/strong> Saudi Arabia has been focusing on the EV industry in recent years as it wagers on its long-term benefit and attempts to diversify its economy. Saudi Arabia\u2019s sovereign wealth fund the Public Investment Fund (PIF) owns a 60.46% stake in EV company Lucid, and provided the majority of the funds for a USD 3 bn stock offering by the US EV maker back <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f001c139-291a-40f8-94a0-a23f766f2b5f\">in June<\/a>. Lucid said late last year that 80% of EVs will be <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/dd5f8ad6-48c3-43f9-9f3b-16ec8951b987\">made in Saudi Arabia<\/a> by 2030. The company also plans to produce 155k EVs yearly in Saudi Arabia once full-fledged production capacity is achieved by 2025. The PIF also became Aston Martin\u2019s second-largest shareholder with a c. 17% stake <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/29826a3b-6f1c-488a-8ffe-eb2838793aa6\">last year<\/a> as the British luxury maker shifts focus on transitioning to electric and plug-in hybrid models in the coming years.<\/p>\n<p><strong>REMEMBER- Global demand for electric vehicles is <\/strong><strong><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/73bdc340-7f9c-4518-b78d-3f4344260307\">set to rise by 35% this year<\/a><\/strong> to 14 mn vehicles as the industry continues to pick up pace, according to an International Energy Agency (IEA) <a href=\"https:\/\/ent.news\/2023\/4\/1062.pdf\">report (pdf)<\/a>. The EV share of the total auto market is expected to surge to 18% in 2023, up 4 percentage points from 14% in 2022. The growing shift to EVs could help slash global demand for oil by 5 mn barrels a day by 2030, according to IEA projections.<\/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\/electric-vehicles\/\">ELECTRIC VEHICLES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/ma-watch\/\">M&amp;A WATCH<\/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\/sk-on\/\">SK On<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/snb-capital\/\">SNB Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/south-korea\/\">South Korea<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"78413\" 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=\"78413\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/12\/78413\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78413\" class=\"content-area-description single-story post-78413 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=\"78414\" 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=\"78414\">\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\">Coffee With\u2026<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/12\/global-carbon-councils-coo-kishor-rajhansa-talks-mena-carbon-markets\/\">\r\n                            Global Carbon Council\u2019s COO Kishor Rajhansa talks MENA carbon markets                        <\/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\/12\/global-carbon-councils-coo-kishor-rajhansa-talks-mena-carbon-markets\/\" 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\/12\/global-carbon-councils-coo-kishor-rajhansa-talks-mena-carbon-markets\/')\">\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\/12\/global-carbon-councils-coo-kishor-rajhansa-talks-mena-carbon-markets\/\">\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=Global Carbon Council\u2019s COO Kishor Rajhansa talks MENA carbon markets&url=https:\/\/enterpriseam.com\/climate\/2023\/07\/12\/global-carbon-councils-coo-kishor-rajhansa-talks-mena-carbon-markets\/\">\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\/12\/global-carbon-councils-coo-kishor-rajhansa-talks-mena-carbon-markets\/&title=Global Carbon Council\u2019s COO Kishor Rajhansa talks MENA carbon markets\">\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=Global+Carbon+Council%E2%80%99s+COO+Kishor+Rajhansa+talks+MENA+carbon+markets+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F07%2F12%2Fglobal-carbon-councils-coo-kishor-rajhansa-talks-mena-carbon-markets%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\/12\/global-carbon-councils-coo-kishor-rajhansa-talks-mena-carbon-markets\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1465.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78415\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/12\/global-carbon-councils-coo-kishor-rajhansa-talks-mena-carbon-markets\/1465-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1465.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1465.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1465.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1465.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78414\" class=\"content-area-description single-story post-78414 post type-post status-publish format-standard has-post-thumbnail hentry category-coffee-with-2 tag-carbon-markets tag-coffee-with-5 tag-egypt tag-enterpriseclimate tag-qatar 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-04\"><\/a><strong> Coffee with: Kishor Rajhansa, Chief Operations Officer of the Global Carbon <\/strong><strong>Council:<\/strong> Kishor Rajhansa (<a href=\"https:\/\/qa.linkedin.com\/in\/kishor-rajhansa-81343aa\">LinkedIn<\/a>) serves as the chief operations officer of the <a href=\"https:\/\/www.globalcarboncouncil.com\/\">Global Carbon Council<\/a> (GCC). Prior to his appointment as COO, he served as the technical and strategy director of the GCC and the Carbon and Climate Action Executive Director of the <a href=\"https:\/\/www.gord.qa\/\">Gulf Organization for Research & Development<\/a>. He is also a member of the United Nations Framework Convention on Climate Change\u2019s Clean Development Mechanism (CDM) Methodologies Panel.<\/p>\n<p><strong>Enterprise Climate sat down with Rajhansa<\/strong> to discuss the credits GCC offers, projects in the pipeline, expansion plans, partnerships with MENA\u2019s private and public sectors, and what GCC\u2019s involvement in COP28 will look like.<\/p>\n<p><strong>Edited excerpts of our conversation follow:<\/strong><\/p>\n<p><strong>Enterprise: <\/strong>Tell us a bit about the idea behind establishing GCC.<\/p>\n<p><strong>Kishor Rajhansa: <\/strong>The MENA region remained underrepresented in the carbon markets and we wanted to launch a platform that would adequately give the global south access to verifiable carbon credits to help the region reach its climate targets. We spent three years in the interim between launching GCC and kicking off operations accumulating some 1.5k projects in 42 countries that could generate carbon credits.<\/p>\n<p>We were initially focused on the MENA region, but since our launch, we have obtained certifications from organizations like the <a href=\"https:\/\/www.icao.int\/corsia\">Carbon Offsetting and Reduction Scheme for International Civil Aviation Organization<\/a>, expanding our reach globally.<\/p>\n<p><strong>E: <\/strong>How does it work?<\/p>\n<p><strong>KR:<\/strong> These 1.5k projects will reduce emissions in 10 years\u2019 time and our crediting period for each project is 10 years. The crediting system entails a period of 10 years for the energy ventures for which we issue credits. The energy projects we back \u2014 with the exception of renewable energy assets \u2014 will enable us to issue some 2 bn carbon credits over a 10-year period. We have received proposals to issue credits for a variety of projects from the MENA region including micro and large scale renewables projects, waste management ventures, and biofuels.<\/p>\n<p><strong>E:<\/strong> Are there specific selection criteria and exceptions for projects?<\/p>\n<p><strong>KR: <\/strong>As one of the few voluntary carbon markets in the global south, we understand the developing world faces unique challenges which hinders comparable adoption of net zero energy sources compared to the western hemisphere, so we do allow for projects associated with methane generation. We do not allow nuclear energy projects, however, because they are hazardous and require unique evaluation and regulation standards. The projects we issue credits for are compliant with the UNFCCC\u2019s 16 sector scopes.<\/p>\n<p><strong>E: <\/strong>Does GCC have expansion plans in the pipeline?<\/p>\n<p><strong>KR: <\/strong>We are currently working on partnering with new stock exchanges and aim to issue our credits in Saudi Arabia, the Abu Dhabi Global Market, and India. We are also developing methodologies for the issuance of carbon credits from a variety of new sectors including the building sector, waste management, direct air capture, and carbon capture \u2014 which is particularly useful in MENA. We will use our methodologies to connect governments with each other under the Paris Agreement\u2019s Article 6.2 \u2014 which allows for the trade and transfer of emission reductions \u2014 in order to push the region\u2019s climate action forward and establish the GCC as a regional carbon market.<\/p>\n<p><strong>E: <\/strong>Is a certain MENA country that excels at carbon reduction efforts from the GCC\u2019s standpoint?<\/p>\n<p><strong>KR:<\/strong> The UAE holds the lion\u2019s share of the region\u2019s contribution to emissions reduction, with Egypt following closely behind in terms of projects submitted to us for evaluation. Saudi Arabia is next, with Oman and Qatar rounding out the top five contributors.<\/p>\n<p><strong>E: <\/strong>There\u2019s been a lot of talk about how carbon offsetting helps corporations <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-17\/how-the-2022-world-cup-rebuilt-a-market-for-renewable-energy-carbon-offsets?srnd=green&leadSource=uverify%20wall\">greenwash their<\/a><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-17\/how-the-2022-world-cup-rebuilt-a-market-for-renewable-energy-carbon-offsets?srnd=green&leadSource=uverify%20wall\">operations<\/a> without actually compensating for their emissions given a lack of global checks and balances. What are your thoughts on that point of view?<\/p>\n<p><strong>KR: <\/strong>Carbon offsets play a vital role in the path to carbon neutrality, and VCMs bring economic value while doing so. However, I completely agree that companies must do their part fully and not heavily rely on carbon credits: They must work to slash their carbon footprint and only compensate unavoidable emissions through carbon offsets.<\/p>\n<p>Renewable energy projects are a great path to carbon-neutrality with 84% of Nationally Determined Contributions (NDCs) relying on them for decarbonization. Critics think that the overall expenses associated with renewable energy are falling, however it must be noted tariffs are also falling by greater proportions. For example, the cost of green technologies such as solar panels fell almost 5x in the last decade in some Indian provinces, but the tariff which is paid by these provinces to renewable energy developers also plummeted by 7-8x, leaving the developer\u2019s return on investment affected.<\/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-markets\/\">carbon markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/coffee-with-5\/\">COFFEE WITH\u2026<\/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\/qatar\/\">Qatar<\/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=\"78416\" 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=\"78416\">\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\/12\/russia-and-the-gcc-want-to-partner-on-renewables-nuclear-power-and-green-hydrogen\/\">\r\n                            Russia and the GCC want to partner on renewables, nuclear power, and green hydrogen                        <\/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\/12\/russia-and-the-gcc-want-to-partner-on-renewables-nuclear-power-and-green-hydrogen\/\" 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\/12\/russia-and-the-gcc-want-to-partner-on-renewables-nuclear-power-and-green-hydrogen\/')\">\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\/12\/russia-and-the-gcc-want-to-partner-on-renewables-nuclear-power-and-green-hydrogen\/\">\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=Russia and the GCC want to partner on renewables, nuclear power, and green hydrogen&url=https:\/\/enterpriseam.com\/climate\/2023\/07\/12\/russia-and-the-gcc-want-to-partner-on-renewables-nuclear-power-and-green-hydrogen\/\">\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\/12\/russia-and-the-gcc-want-to-partner-on-renewables-nuclear-power-and-green-hydrogen\/&title=Russia and the GCC want to partner on renewables, nuclear power, and green hydrogen\">\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=Russia+and+the+GCC+want+to+partner+on+renewables%2C+nuclear+power%2C+and+green+hydrogen+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F07%2F12%2Frussia-and-the-gcc-want-to-partner-on-renewables-nuclear-power-and-green-hydrogen%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\/12\/russia-and-the-gcc-want-to-partner-on-renewables-nuclear-power-and-green-hydrogen\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/791.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78417\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/12\/russia-and-the-gcc-want-to-partner-on-renewables-nuclear-power-and-green-hydrogen\/791-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/791.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"791.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/791.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/791.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78416\" class=\"content-area-description single-story post-78416 post type-post status-publish format-standard has-post-thumbnail hentry category-climate-diplomacy tag-climate-diplomacy tag-enterpriseclimate tag-nuclear-energy tag-renewables tag-russia tag-saudi-arabia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Russia + GCC want to partner on renewables, nuclear power, and green <\/strong><strong>hydrogen:<\/strong> The Gulf Cooperation Council (GCC) and Russia are adopting a <a href=\"https:\/\/tass.com\/politics\/1644851\">joint action plan<\/a> for 2023 to 2028 that will see them set up frameworks for partnership in renewables, nuclear power, energy efficiency, circular carbon economy, and green hydrogen production, the <a href=\"https:\/\/sp.spa.gov.sa\/viewstory.php?lang=en&newsid=2469440\">Saudi Press Agency<\/a> reports. The announcement was made during the joint ministerial meeting of strategic dialogue between the Gulf Cooperation Council and the Russian Federation on Monday.<\/p>\n<p><strong>Russia is already making nuclear moves in the region: <\/strong>Russia\u2019s state-owned Rosatom nuclear power company is building Egypt\u2019s Dabaa nuclear plant. Egypt and Rosatom <a href=\"https:\/\/enterprise.press\/stories\/2022\/07\/21\/rosatom-starts-construction-of-dabaa-nuclear-plant-76321\/\">began construction<\/a> on the USD 30 bn plant in July 2022 and it should come online at the start of the next decade. Rosatom was contracted in 2015 to handle the construction and provide fuel for the plant, which will hold four 1.2 GW reactors. 85% of the facility\u2019s financing is through a USD 25 bn loan from Russia. The Egyptian Nuclear & Radiological Regulatory Authority (ENRRA) granted permission for the construction of the plant\u2019s third reactor <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/0123f325-d5c6-4d30-bb09-a3f3a6de38a3\">in April<\/a>.<\/p>\n<p><strong>Rosatom is also looking at opportunities in Algeria:<\/strong> Earlier this month, a delegation from the company met with Algeria\u2019s Energy and Mining Minister Mohamed Arkab to explore cooperation opportunities in nuclear power, according to a <a href=\"https:\/\/www.facebook.com\/energyalgeria2021\/posts\/pfbid0YiH3rjzJtggDfx1HwB6BSBEDhsQsGW7DHbumxBvg7Z6qR8ToQAYDwLNS1ZoFBoeal?_rdc=1&_rdr\">statement<\/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\/climate-diplomacy\/\">CLIMATE DIPLOMACY<\/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                            <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\/russia\/\">Russia<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"78418\" 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=\"78418\">\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\">FROM THE CLIMATE STORE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/12\/the-all-electric-luxury-bmw-ix-lands-in-saudi-arabia\/\">\r\n                            The all-electric luxury BMW iX lands in Saudi Arabia                        <\/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\/12\/the-all-electric-luxury-bmw-ix-lands-in-saudi-arabia\/\" 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\/12\/the-all-electric-luxury-bmw-ix-lands-in-saudi-arabia\/')\">\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\/12\/the-all-electric-luxury-bmw-ix-lands-in-saudi-arabia\/\">\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=The all-electric luxury BMW iX lands in Saudi Arabia&url=https:\/\/enterpriseam.com\/climate\/2023\/07\/12\/the-all-electric-luxury-bmw-ix-lands-in-saudi-arabia\/\">\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\/12\/the-all-electric-luxury-bmw-ix-lands-in-saudi-arabia\/&title=The all-electric luxury BMW iX lands in Saudi Arabia\">\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=The+all-electric+luxury+BMW+iX+lands+in+Saudi+Arabia+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F07%2F12%2Fthe-all-electric-luxury-bmw-ix-lands-in-saudi-arabia%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\/12\/the-all-electric-luxury-bmw-ix-lands-in-saudi-arabia\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1466.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78419\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/12\/the-all-electric-luxury-bmw-ix-lands-in-saudi-arabia\/1466-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1466.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1466.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1466.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1466.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78418\" class=\"content-area-description single-story post-78418 post type-post status-publish format-standard has-post-thumbnail hentry category-from-the-climate-store tag-bmw tag-enterpriseclimate tag-evs tag-from-the-climate-store tag-saudi-arabia 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>BMW iX EV now available in KSA: <\/strong>BMW\u2019s all-electric EV iX is now available in the KSA courtesy of Mohamed Yousuf Naghi Motors, the licensed importer of BMW vehicles in Saudi Arabia, according to a <a href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/fully-electric-bmw-ix-now-available-in-the-kingdom-of-saudi-arabia-c33amvj5\">statement<\/a>. The new luxury EV comes in two all-wheel drive, dual motor all-electric models: the <a href=\"https:\/\/www.bmwusa.com\/vehicles\/all-electric\/ix\/sports-activity-vehicle\/electric.html\">iX xDrive50<\/a> and the <a href=\"https:\/\/www.bmwusa.com\/vehicles\/all-electric\/ix\/sports-activity-vehicle\/electric-bmw-m.html\">iX M60<\/a>.<\/p>\n<p><strong>The specs: <\/strong>The iX xDrive50 goes from 0-60 miles per hour in 4.4 seconds, has a 90 mile (c.149 km) driving range on 10 minutes of direct current (DC) fast charging, with a 516 maximum horsepower, BMW notes. The IX M60 is a bit faster, going from 0-60 miles per hour in 3.6 seconds. It has 610 maximum horsepower and a driving range of up to 296 miles (c.467 km) on a full charge and has a 90 mile range on 10 minutes of DC fast charges. Both models have a torque of 811 lb-ft. The iX EV equipped with cloud-based navigation systems that notify drivers of their charge volumes and using GPS can alert motorists to nearby charging networks, the automaker notes.<\/p>\n<p><strong>Chargers: <\/strong>BMW offers its Wallbox charging solution to enable quick charging in residential settings, enabling car owners to fully charge the EV in under 12 hours through alternate current (AC) charges at 240V outlets, according to BMW\u2019s <a href=\"https:\/\/www.bmwusa.com\/vehicles\/all-electric\/ix\/sports-activity-vehicle\/overview.html\">website<\/a>. The charger is also compatible with 120V outlets for faster charging at home.<\/p>\n<p><strong>Plush and spacious interiors: <\/strong>The models sport roomy interiors designed to inspire the feeling of lounging, <a href=\"https:\/\/www.topgear.com\/car-reviews\/bmw\/ix\">Top Gear<\/a> notes in its review of the car. BMW says it built its spacious cabin to \u201ccocoon\u201d every passenger. The cabin is kitted out in matte wood with lit graphics shining through and a glass iDrive knob, Top Gear adds. BMW notes that \u201cat the touch of a button\u201d liquid crystals implanted in the roof of the EV can create an instantaneous shading effect.<\/p>\n<p><strong>Sustainable through and through: <\/strong>The EVs are fully manufactured using renewables at the automaker Dingolfing production plant in Germany, and the car\u2019s interior is designed with sustainability in mind including \u201colive-leaf tanned leathers, Forest Stewardship Council-certified wood, and floor mats made from regenerated nylon made from ocean waste,\u201d according to BMW.<\/p>\n<p><strong>Stellar reviews: <\/strong>Top Gear hails the EV for its \u201coutstanding comfort and refinement\u201d and for being \u201cchockful of tech that works pretty well\u201d with \u201cadded glitz and glam.\u201d Meanwhile, <a href=\"https:\/\/www.caranddriver.com\/bmw\/ix\">Car and Driver<\/a> praises the automaker for the EV\u2019s \u201cluxurious ride, impressive driving range, and chic cabin design.\u201d<\/p>\n<p><strong>How much it will cost you: <\/strong>The starting price for the EV in the Saudi market is c. SAR 465k (c. USD 124k), Zawya notes, without specifying the retail price tag of each model.<\/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\/bmw\/\">BMW<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/from-the-climate-store\/\">FROM THE CLIMATE STORE<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"78420\" 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=\"78420\">\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\">CLIMATE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/12\/subsea-mining-jeopardizes-the-worlds-usd-5-5-bn-tuna-sector\/\">\r\n                            Subsea mining jeopardizes the world\u2019s USD 5.5 bn tuna sector                        <\/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\/12\/subsea-mining-jeopardizes-the-worlds-usd-5-5-bn-tuna-sector\/\" 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\/12\/subsea-mining-jeopardizes-the-worlds-usd-5-5-bn-tuna-sector\/')\">\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\/12\/subsea-mining-jeopardizes-the-worlds-usd-5-5-bn-tuna-sector\/\">\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=Subsea mining jeopardizes the world\u2019s USD 5.5 bn tuna sector&url=https:\/\/enterpriseam.com\/climate\/2023\/07\/12\/subsea-mining-jeopardizes-the-worlds-usd-5-5-bn-tuna-sector\/\">\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\/12\/subsea-mining-jeopardizes-the-worlds-usd-5-5-bn-tuna-sector\/&title=Subsea mining jeopardizes the world\u2019s USD 5.5 bn tuna sector\">\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=Subsea+mining+jeopardizes+the+world%E2%80%99s+USD+5.5+bn+tuna+sector+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F07%2F12%2Fsubsea-mining-jeopardizes-the-worlds-usd-5-5-bn-tuna-sector%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\/12\/subsea-mining-jeopardizes-the-worlds-usd-5-5-bn-tuna-sector\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1467.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78421\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/12\/subsea-mining-jeopardizes-the-worlds-usd-5-5-bn-tuna-sector\/1467-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1467.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1467.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1467.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1467.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78420\" class=\"content-area-description single-story post-78420 post type-post status-publish format-standard has-post-thumbnail hentry category-climate-in-the-news tag-climate-in-the-news tag-enterpriseclimate tag-mining 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>Tuna industry on a collision course with subsea mining sector: <\/strong>Rising sea temperatures are expected to drive a number of tuna species into a potential mining hotspot, threatening the USD 5.5 bn tuna industry, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-07-11\/deep-sea-mining-threatens-5-5-billion-tuna-industry-study-finds\">Bloomberg<\/a> writes, citing research in <a href=\"https:\/\/www.nature.com\/articles\/s44183-023-00016-8\">Nature<\/a>. Global warming will drive tuna to migrate toward the Clarion-Clipperton Zone between Hawaii and Mexico, which has been pegged for deep sea mining of metals including cobalt and nickel. The mining operations would have a devastating effect on the breathing and feeding patterns of both tuna and the prey on which they rely for sustenance, the research cautions.<\/p>\n<p><strong>How will it take a toll on the fishing industry? <\/strong>Mining would send up sediment plumes that could span hundreds of feet and affect the breathing patterns of fish and spike their stress hormone levels, the research explains. Excavation of deep sea minerals could also unearth toxic metals that further impact the longevity of the species.<\/p>\n<p><strong>REMEMBER- There\u2019s more deep sea mining coming: <\/strong>The UN\u2019s International Seabed Authority (ISA) said it would begin accepting permit applications from corporations looking to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/b7cdbbc9-c813-406f-9241-cc0ff828a1c2\">launch deep-sea mining projects<\/a> this month following two weeks of negotiations on standards and requirements of the new practice last April. The deep-sea mining projects aim to extract critical minerals essential to EV battery production including cobalt, copper, nickel, and manganese. A notable sticking point in the decision is the lack of a standard mining code that would guide ISA in its application reviewing process.<\/p>\n<hr class=\"grey-line\">\n<p><strong>An unlikely tie-up between KSA\u2019s Aramco, ESG is raising <\/strong><strong>questions:<\/strong> Saudi Aramco has emerged as an unorthodox beneficiary of sustainable investment funds as a result of complex processes used to raise money from its pipelines, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-07-11\/saudi-aramco-getting-cash-meant-for-sustainable-investment-reveals-esg-loophole\">Bloomberg<\/a> reports. The link between Aramco and ESG began with the setting up of two subsidiaries \u2014 the Aramco Oil Pipelines Company and the Aramco Gas Pipelines Company. Aramco sold 49% of the shares in each to consortiums led EIG Global Energy Partners and BlackRock Inc., respectively. In a bid to generate necessary funds to repay bank loans for the transaction, both asset managers created two SPVs \u2014 EIG Pearl Holdings and GreenSaif Pipelines Bidco. They sold the bonds which at the time got an above-average score in the JPMorgan Chase & Co. sustainability screening. The bonds then made their way to JPMorgan\u2019s ESG indexes.<\/p>\n<p><strong>Major flaws:<\/strong> The existence of such complex financial structures arise as an issue for ESG investors who want their funds going into climate-friendly firms, founder and CEO of the Anthropocene Fixed Income Institute Ulf Erlandsson said. \u201cSome ESG investors have invested in these package deals, even though it seems unlikely that they would have bought the oil and gas companies\u2019 bonds on a stand-alone basis,\u201d Erlandsson said.<\/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-in-the-news\/\">CLIMATE IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/mining\/\">MINING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"78422\" 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=\"78422\">\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\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/12\/jlen-group-to-invest-usd-10-mn-in-germany-based-green-hydrogen-plant\/\">\r\n                            JLEN Group to invest USD 10 mn in Germany-based green hydrogen 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\/12\/jlen-group-to-invest-usd-10-mn-in-germany-based-green-hydrogen-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\/12\/jlen-group-to-invest-usd-10-mn-in-germany-based-green-hydrogen-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\/12\/jlen-group-to-invest-usd-10-mn-in-germany-based-green-hydrogen-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=JLEN Group to invest USD 10 mn in Germany-based green hydrogen plant&url=https:\/\/enterpriseam.com\/climate\/2023\/07\/12\/jlen-group-to-invest-usd-10-mn-in-germany-based-green-hydrogen-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\/12\/jlen-group-to-invest-usd-10-mn-in-germany-based-green-hydrogen-plant\/&title=JLEN Group to invest USD 10 mn in Germany-based green hydrogen 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=JLEN+Group+to+invest+USD+10+mn+in+Germany-based+green+hydrogen+plant+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F07%2F12%2Fjlen-group-to-invest-usd-10-mn-in-germany-based-green-hydrogen-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\/12\/jlen-group-to-invest-usd-10-mn-in-germany-based-green-hydrogen-plant\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/425.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78423\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/12\/jlen-group-to-invest-usd-10-mn-in-germany-based-green-hydrogen-plant\/425-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/425.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"425.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/425.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/425.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78422\" class=\"content-area-description single-story post-78422 post type-post status-publish format-standard has-post-thumbnail hentry category-around-the-world tag-around-the-world tag-enterpriseclimate tag-germany tag-green-hydrogen tag-green-mobility tag-hydrogen tag-toyota wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>JLEN Group to invest USD 10 mn in Germany-based green hydrogen plant: <\/strong>Guernsey-based investment firm <a href=\"https:\/\/gg.linkedin.com\/showcase\/jlen\/\">JLEN Environmental Assets Group<\/a> (JLEN) said it will invest EUR 9.2 mn (c. USD 10 mn) along with Berlin-based clean energy supplier <a href=\"https:\/\/www.hh2e.de\/\">HH2E<\/a> and a number of investment funds in a green hydrogen facility with an annual production capacity of 6k tons in its first phase, <a href=\"https:\/\/www.reuters.com\/business\/energy\/jlen-invest-german-green-hydrogen-production-site-2023-07-10\/\">Reuters<\/a> reports. The green hydrogen plant \u2014 to be built and operated by HH2E in Lubmin \u2014 is expected to increase its electrolyzer capacity to 1 GW in upcoming phases and have a generation volume in excess of 60k tons annually when fully operational, the newswire notes. For context, 1 ton of green hydrogen generates the equivalent of <a href=\"https:\/\/www.carboncommentary.com\/blog\/2021\/6\/11\/some-rules-of-thumb-of-the-hydrogen-economy\">33 MWh<\/a> in clean energy. A final investment decision on the project is expected within the coming months.<\/p>\n<p><strong>Toyota is increasing its focus on hydrogen-powered vehicles:<\/strong> Japanese automaker Toyota will focus on the sale of hydrogen-powered trucks and vehicles in Europe and China under a plan to sell 200k of such vehicles by 2030, <a href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/toyota-targets-europe-china-hydrogen-sales-pivot-2023-07-11\/\">Reuters<\/a> reports, citing company executives. Toyota established a separate hydrogen-focused unit earlier this month aimed at boosting the application of fuel-cell technology into large scale uses, including industrial power generation and commercial trucks. The focus on China and Europe, which are both seeing a demand on hydrogen, will help slash costs for Toyota, Toyota's Chief Technology Officer Hiroki Nakajima said. The move by Toyota marks a shift from the Japanese automaker\u2019s focus on passenger cars and the market in North America.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li>The<strong> European Investment Bank<\/strong> approved a 25-year <strong>EUR 79 mn <\/strong>financing package for <strong>Djibouti<\/strong> to support <strong>desalination and wastewater treatment<\/strong> projects in the country. (<a href=\"https:\/\/www.eib.org\/en\/press\/all\/2023-261-global-gateway-eur-79m-eib-support-for-water-desalination-and-wastewater-treatment-in-djibouti\">Statement<\/a>)<\/li>\n<li><strong>The world\u2019s largest solar energy plant<\/strong> \u2014 located in a salt farm in the north of <strong>China <\/strong>and boasting a generation capacity of <strong>1 GW <\/strong>\u2014 has been <strong>connected to the country\u2019s electricity grid<\/strong>. (<a href=\"https:\/\/www.globaltimes.cn\/page\/202307\/1294010.shtml\">Global Times<\/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\/germany\/\">Germany<\/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\/green-mobility\/\">green mobility<\/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\/toyota\/\">Toyota<\/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=\"78424\" 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=\"78424\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/12\/these-rock-eating-microbes-could-help-make-the-global-steelmaking-industry-carbon-free\/\">\r\n                            These rock-eating microbes could help make the global steelmaking industry carbon-free                        <\/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\/12\/these-rock-eating-microbes-could-help-make-the-global-steelmaking-industry-carbon-free\/\" 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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However, this process only works on high-quality iron ore, and most of BHP Group\u2019s ore comes from Western Australia\u2019s Pilbara region, where raw materials contain excessive impurities that need to be refined using anything other than coal.<\/p>\n<p><strong>By the numbers:<\/strong> Steelmaking produces c. 8% of global greenhouse gas emissions annually, according to the <a href=\"https:\/\/www.iea.org\/reports\/emissions-measurement-and-data-collection-for-a-net-zero-steel-industry\/executive-summary\">International Energy Agency (IEA)<\/a>. BHP is targeting a reduction of its Scope 3 emissions to net zero by 2050, a difficult task given that its emissions are equivalent to 365 mn tons of CO2 annually. This is about as much as the UK's annual emissions.<\/p>\n<p><strong>A golden opportunity:<\/strong> US-based biotech startup <a href=\"https:\/\/allonnia.com\/\">Allonnia<\/a> discovered that BHP\u2019s iron ore contains phosphorus-consuming organisms that can be used in a natural refining process, BHP Vice President Paul Perry said. \u201cAll living things eat phosphorus,\u201d he said, but this specific microbe is believed to clear alumina from the ore.<\/p>\n<p><strong>Big potential:<\/strong> If such microbes are used on big stacks of iron ore, they could eat the redundant gunk \u2014 known as gangue \u2014 and make a product that can be used in most hydrogen-powered steel mills. This could allow the steelmaking industry to reach net-zero once the tech shifts to utility-scale operations.<\/p>\n<p><strong>Not the only one:<\/strong> BHP isn\u2019t alone in its venture. Rio Tinto is looking into the use of biomass and microwave energy to process lower-grade ore. Fortescue Metals is also joining forces with Japan\u2019s Mitsubishi and European steelmaker Voestalpine AG for a hydrogen-based pilot plant in Austria, which will test refining various grades of ore.<\/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\/decarbonization\/\">decarbonization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/on-your-way-out\/\">ON YOUR WAY OUT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"78426\" 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\/12\/78426\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78426\" class=\"content-area-description single-story post-78426 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>9-15 November (Thursday-Wednesday): <a href=\"https:\/\/www.intrafricantradefair.com\/\">Intra-African Trade Fair 2023<\/a>, Cairo, Egypt.<\/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":78407,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-78406","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"9f863996-f7e8-4d28-967f-e260ae60fb19","teaser":"","photo_url":"https:\/\/ent.news\/2020\/1\/723.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>KSA\u2019s SNB Capital acquires a stake worth USD 100 mn in Korean EV battery manufacturer - 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\/ksas-snb-capital-acquires-a-stake-worth-usd-100-mn-in-korean-ev-battery-manufacturer\/\" \/>\n<meta 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