{"id":80977,"date":"2023-12-04T07:00:00","date_gmt":"2023-12-04T07:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=80977"},"modified":"2025-12-15T09:58:28","modified_gmt":"2025-12-15T09:58:28","slug":"cop28-kicks-off-with-a-bang-the-loss-and-damage-fund-is-finalized-and-operational","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/cop28-kicks-off-with-a-bang-the-loss-and-damage-fund-is-finalized-and-operational\/","title":{"rendered":"COP28 kicks off with a bang, the loss and damage fund is finalized and operational"},"content":{"rendered":"<section id=\"80979\" 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=\"80979\">\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\/12\/04\/today-the-loss-and-damage-fund-is-finalized-and-operational\/\">\r\n                            TODAY: The loss and damage fund is finalized and operational                        <\/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\/12\/04\/today-the-loss-and-damage-fund-is-finalized-and-operational\/\" 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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Head to the official <a target=\"_blank\" href=\"https:\/\/www.cop28.com\/en\/schedule\" style=\"\" rel=\"noopener\">events schedule<\/a> for a full rundown of all the panels, workshops, discussions, debates, and keynote speeches. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DAYS TO LOOK FORWARD TO-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>5 December:<\/strong> Energy and Industry + Just Transition<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>6 December: <\/strong>Transport<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>10 December:<\/strong> Food, Agriculture, and Water<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>10-11 December:<\/strong> Final Negotiations<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAPPENING TODAY-<\/strong><strong>Finance and Trade Day. <\/strong>Discussions will focus on three key aspects: scaling up efforts, improving access, and enhancing affordability. Stakeholders will explore reforms to the international financial system, enhanced delivery of concessional support, the development of sustainable finance markets, and voluntary carbon markets. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG CLIMATE STORY EVERYWHERE- The loss and damage fund is operational:<\/strong> 200 countries participating at the UN climate summit have signed off on operationalizing the long-awaited loss and damage fund established a year ago at COP27. The fund is set up to finance adaptation and mitigation efforts in climate vulnerable countries facing hurricanes, floods, droughts, and rising sea levels. The UAE, Germany, US, UK, the EU, Portugal, Spain, Canada, and Japan have all pledged amounts to the fund. <strong>We have all the details on the story in the news well, below. <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story made headlines in the international press:<\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/environment\/cop28-summit-opens-with-hopes-early-deal-climate-damage-fund-2023-11-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/science-environment-67581277\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/environment\/2023\/nov\/30\/agreement-on-loss-and-damage-deal-expected-on-first-day-of-cop28-talks\" style=\"\" rel=\"noopener\">The Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2023\/11\/30\/climate\/loss-damage-fund-adopted-cop28\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a><a target=\"_blank\" href=\"https:\/\/abcnews.go.com\/Health\/wireStory\/1st-day-climate-conference-sets-fund-countries-hit-105269216\" style=\"\" rel=\"noopener\">ABC News<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2023\/11\/30\/cop28-delivers-breakthrough-by-way-of-climate-disaster-fund-details.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/e4c0c0fc-cb2f-495a-ba22-4bad1ef4a7dc\" style=\"\" rel=\"noopener\">The Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/climate-environment\/2023\/11\/30\/climate-summit-cop28-financing\/\" style=\"\" rel=\"noopener\">The Washington Post<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/11\/30\/climate\/cop28-loss-and-damage.html\" style=\"\" rel=\"noopener\">The New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.dw.com\/en\/cop28-launches-climate-loss-and-damage-fund\/video-67595921\" style=\"\" rel=\"noopener\">Deutsche Welle<\/a> | <a target=\"_blank\" href=\"https:\/\/www.france24.com\/en\/video\/20231130-cop28-opens-with-historic-launch-of-loss-and-damage-fund\" style=\"\" rel=\"noopener\">France 24<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/11\/30\/climate\/cop28-loss-and-damage.html\" style=\"\" rel=\"noopener\">Associated Press<\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt1\"><\/a>A BRIEF LOOK AT COPLAND- Al Jaber sets COP28 in motion with a plea for flexibility:<\/strong>UAE\u2019s Sultan Al Jaber launched the two-week climate with his opening statement on Thursday, officially assuming the role of COP28 President-Designate in the formal passing of the gavel from his Egyptian predecessor, COP27 president Sameh Shoukry. In a 20-minute speech (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=LJ3Jma5fNtQ\" style=\"\" rel=\"noopener\">watch, runtime: 20:00<\/a>), Al Jaber urges delegates to be flexible in their negotiations and urged for inclusion of the fossil fuel industry in negotiations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Follow the leader? <\/strong>Al Jaber <a target=\"_blank\" href=\"https:\/\/www.cop28.com\/en\/news\/2023\/11\/COP28-President-DrSultan-Al-Jabers-Opening--Plenary-Speech\" style=\"\" rel=\"noopener\">said in his speech<\/a> that oil and gas companies \u201ccan lead the way\u201d in the green energy transition, pointing to the minor steps that the sector has reluctantly taken such as committing to net-zero methane emissions by 2030, and adopting net-zero by 2050 targets. Al Jaber admits that this is \u201cnot enough\u201d, while also pointing to the responsibility of high-emitting sectors like heavy transportation, aluminum, steel, and cement to \u201caccelerate decarbonization at scale.\u201d Earlier this year, fossil fuel companies including Shell <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/eaf1b7f0-1a54-4bbc-accb-96c9bdfcfcec\" style=\"\" rel=\"noopener\">excluded end-user (Scope 3) emissions<\/a> from its climate targets, thus failing to account for <a target=\"_blank\" href=\"https:\/\/www.woodmac.com\/press-releases\/few-oil-and-gas-companies-commit-to-scope-3-net-zero-emissions-as-significant-challenges-remain\/?utm_source=Climate+Weekly&utm_campaign=ca69573b24-EMAIL_CAMPAIGN_2023_07_28_05_27_COPY_01&utm_medium=email&utm_term=0_-6ff1db6665-%5BLIST_EMAIL_ID%5D\" style=\"\" rel=\"noopener\">up to 95%<\/a> of its emissions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More fuel on the fire: <\/strong>The President-Designate reportedly claimed there is \u201cno science\u201d that proves a phase-out of fossil fuel production is needed to restrict global heating to 1.5 C, and that a phase out would not allow sustainable development \u201cunless you want to take the world back into caves,\u201d <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/environment\/2023\/dec\/03\/back-into-caves-cop28-president-dismisses-phase-out-of-fossil-fuels\" style=\"\" rel=\"noopener\">The Guardian<\/a> reports, citing comments made by Al Jaber at a live online event held last month. Al Jaber and the UAE have been championing the phase-out of fossil fuel emissions through ramping up carbon capture, despite climate experts and the UN concluding that this is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9c2456c0-89cd-4fef-9505-f3f333c7dcd3\" style=\"\" rel=\"noopener\">not feasible and unrealistic<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Methane targets are making a buzz:<\/strong> \u201cLet me also encourage countries to establish near zero methane emission targets, as part of the next round of Nationally Determined Contributions,\u201d Al Jaber said. This \u201cnew road\u201d starts with a decision on the Global Stocktake, according to the COP28 President, who is calling for an ambitious outcome that \u201ccorrects course and accelerates action to 2030.\u201d According to Al Jaber, the UAE Presidency is also committed to \u201cunlocking finance to ensure that the global south does not have to choose between development and climate action,\u201d especially with regards to adaptation where an agreement on a robust global framework is on the table.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>RUMOR HAS IT\u2026 The COP28 global climate policy draft off to a rough start: <\/strong>The COP28 presidency\u2019s preliminary draft of the <a target=\"_blank\" href=\"Assessing article 2.1(c) of the Paris Agreement, The Global Stocktake will measure progress towards the goals of the agreement for the first time.\" style=\"\" rel=\"noopener\">Global Stocktake<\/a> (GST) indicates that there is a lack of consensus on the global climate policy front, <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/climate\/cop28\/2023\/12\/01\/first-draft-of-cop28-global-stocktake-hints-at-tough-talks-ahead\/\" style=\"\" rel=\"noopener\">The National<\/a> reports. The verdict \u2014 set to measure the achieved progress on implementing the Paris Agreement targets for the first time since 2015 \u2014 reportedly leaves out most areas of contention, including unblocking climate finance and resolutely phasing down fossil fuel-powered energy, signaling possible divergence in the imminent climate negotiations. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a>THE CRITICS ARE STILL LOUD- COP28 is predicted to score less than 40% in expected <\/strong><strong>level of <\/strong><strong>progress towards climate targets set in Paris<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-30\/at-cop28-renewables-are-likely-to-be-a-bright-spot-as-1-5c-hopes-fade?srnd=green-climate-politics&leadSource=uverify%20wall\" style=\"\" rel=\"noopener\">BloombergNEF<\/a> report released on Thursday. The research organization identified 10 areas governments need to take action on at the climate conference in order to \u201ctake a meaningful step toward the goals of the 2015 Paris Agreement,\u201d Bloomberg wrote. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What are the 10 key areas?<\/strong> BloombergNEF estimated the level of progress at the Dubai climate summit across 10 goals weighted based on importance and urgency. The 10 goals are: setting 1.5 C-aligned 2030 emissions goals; an effective stocktake on global Paris progress; agreeing on a fossil-fuel phase out; agreeing on an energy transition package; setting a detailed adaptation plan; staying on track 2025 adaptation finance target; achieving the USD 100 bn pledge; operationalizing the loss and damage fund; staying on track new finance target; and launching a carbon offset system.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An effective global stocktake + emissions goals are unlikely:<\/strong> The climate conference is expected to yield disappointing results on the world\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/5ed42802-fcb5-42d5-86c9-40ac7ae6540b\" style=\"\" rel=\"noopener\">first global stocktake<\/a>, scoring a meager 3 out of 10. Current climate action strategies leave the world with a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/97515b0e-5e03-4249-b954-f91475deb50d\" style=\"\" rel=\"noopener\">14% chance<\/a> of meeting the 1.5\u00b0C warming limit at best, and could see temperatures rise by 2.9\u00b0C above pre-industrial levels by the end of the century, rendering the outcome of the stocktake all but done, Bloomberg adds. Additionally, setting 1.5 C-aligned 2030 emissions goals will likely be \u201cmore tentative than bold,\u201d according to Bloomberg, which gave COP28 a 1 out of 10 score on this front. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The<\/strong><strong> USD 100 bn climate finance target is more feasible:<\/strong>The climate conference will likely see developed countries make good on their USD 100 bn pledge to finance climate vulnerable developing markets, BloombergNEF notes, adding that the USD 89.6 bn mobilized in 2021 is a promising indicator for realization of the commitment. COP28 participants have already agreed on operationalisation of the loss and damage fund, with some USD 501.2 mn committed by the UAE, Germany, US, UK, the EU, Portugal, Spain, Canada, and Japan. While not on the official agenda, COP28 President-Designate Sultan Al Jaber <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/5ed42802-fcb5-42d5-86c9-40ac7ae6540b\" style=\"\" rel=\"noopener\">called<\/a> on multilateral development banks to work through country platforms, revise climate finance targets for coming years, and lower the risk for the private sector at the summit. Participating countries at the UN summit are also expected to replenish the Green Climate Fund at the conference, with Gulf states being pressured to contribute. BloombergNEF gave COP28 a seven out of 10 rating on this front.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EXPECT MORE ACTION FROM BANKS- Top development banks set to pledge more <\/strong><strong>funds: <\/strong>Ten of the world's top development banks \u2014 including the World Bank \u2014 will pledge to increase their climate finance efforts at COP28, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/environment\/top-development-banks-cop28-vow-up-climate-game-quiet-fossil-fuels-document-2023-12-03\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing an exclusive statement that is yet to be released. The group of banks plan to set a common approach to tracking and reporting climate impact and to increase the use of analytics to help countries identify investment priorities while attracting more private capital by removing fossil fuel subsidies and developing pipelines of green projects. The World Bank will host a joint program aimed at supporting countries and organizations to develop their own decarbonization and climate resilience strategy in the long-term. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But remain silent on plans to divest in fossil fuels:<\/strong> The statement seen by Reuters did not include any targets of divesting in fossil fuels, the newswire wrote. The European Investment Bank is yet the only one among the group to sign the 'Glasgow Declaration' and commit to stop lending to fossil fuel projects.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MODI EYES 2028 COP- India\u2019s Prime Minister Narendra Modi has offered to host the UN's <\/strong><strong>COP33 in an effort to position India as a climate leader<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-01\/modi-offers-india-to-host-global-climate-talks-as-question-hangs-over-cop29?srnd=null&leadSource=uverify%20wall\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported on Friday. Modi presided over the G20 this year and succeeded in having leaders commit to tripling renewable energy capacity by 2030. The UN is still struggling to find a host for COP29 \u2014 scheduled to be held in an Eastern European country \u2014 with threats by Russia looming to veto any bid by a European Union member. Germany has also refused to host COP29 at the UN headquarters in Bonn, leaving the UAE to retain the COP presidency if no agreement is reached. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt3\"><\/a><\/strong><strong>WATCH <\/strong><strong>THIS SPACE #1- Masdar is lining up another green bond issuance: <\/strong>UAE renewables giant Masdar is planning its second green bond issuance this year \u2014 of similar value to its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/53701f25-7e73-45d7-abeb-3a954978d785\" style=\"\" rel=\"noopener\">earlier USD 750 mn issuance<\/a> \u2014 to increase renewables capacity, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-01\/masdar-plans-green-bond-issue-to-grow-renewables-capacity?leadSource=uverify%20wall\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported Friday, citing CFO Niall Hannigan. The company\u2019s debut green bond issuance was part of an initiative to raise USD 3 bn in bonds for new renewable energy projects in the UAE and abroad under a plan to grow its global portfolio to 100 GW of capacity by 2030. The funds went towards investments in clean energy projects in Uzbekistan and Azerbaijan. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt4\"><\/a><\/strong><strong>WATCH <\/strong><strong>THIS SPACE #2- India\u2019s ReNew wants to expand investments in Egypt: <\/strong>India\u2019s largest renewables developer <a target=\"_blank\" href=\"https:\/\/renewpower.in\/\" style=\"\" rel=\"noopener\">ReNew Power<\/a> is exploring investments in green hydrogen projects in Egypt, <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/business\/energy\/2023\/12\/02\/indias-renew-power-exploring-green-hydrogen-projects-in-egypt\/\" style=\"\" rel=\"noopener\">The National<\/a> reported on Friday, citing comments made by ReNew\u2019s CEO Sumant Sinha on the sidelines of COP28. The company \u2014 which the UAE sovereign wealth fund Abu Dhabi Investment Authority has a <a target=\"_blank\" href=\"https:\/\/www.asianinvestor.net\/article\/adia-eyes-indias-burgeoning-renewables-sector\/484008\" style=\"\" rel=\"noopener\">14.5% share<\/a> in \u2014 plans on diversifying its operations to the Middle East, North Africa, India and Australia, and investing in countries rich in natural resources, with a proximity to global markets, and a competitive price for land, Sinha told the news outlet. The capital for the investments will be made available through divesting in its existing assets, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- El Sewedy + ReNew already signed an agreement for a USD 8 bn green hydrogen project: <\/strong>ReNew announced in August that it is scheduled to break ground on its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/33227e2e-d6b3-42a6-be8d-ccef673e296a\" style=\"\" rel=\"noopener\">USD 8 bn green hydrogen plant<\/a> in Egypt\u2019s Suez Canal Economic Zone early next year. This comes after El Sewedy Electric and ReNew signed a framework agreement with the government to generate 570 MW of renewables to be used for the production of 20k tons of green hydrogen during its pilot phase. The green hydrogen will be used as feedstock to generate 100k tons of green ammonia.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DANGER ZONE #1- World will hit 1.4\u00b0C warming in 2023:<\/strong> The world is on track to reach 1.4\u00b0C warming above pre-industrial levels in 2023, making it the hottest year on record and breaking the 2016 record of almost 1.3\u00b0C, the World Meteorological Organization (WMO)\u2019s <a target=\"_blank\" href=\"https:\/\/wmo.int\/media\/news\/2023-shatters-climate-records-major-impacts\" style=\"\" rel=\"noopener\">State of the Global Climate report<\/a> released last Thursday found. \"Greenhouse gas levels are record high. Global temperatures are record high. Sea level rise is record high. Antarctic sea ice is record low,\" said WMO Secretary-General Peterri Taala. Scientists also warned that next year could be worse as the impacts of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/680f2e7e-93a5-401f-8562-ffdd0456b34b\" style=\"\" rel=\"noopener\">El Ni\u00f1o<\/a> are expected to peak in winter and drive up temperatures.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DANGER ZONE #2- Two-thirds of promised climate funds from developed world did not <\/strong><strong>make it to their destination:<\/strong> Around two-thirds of climate finance commitments, totaling USD 343 bn, from the developed world between 2013 and 2021 were never reported as disbursed or had little connection to climate, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/environment\/some-340-bln-pledged-climate-cash-did-not-go-where-needed-one-campaign-2023-11-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported last week, citing analysis by non-profit advocacy group <a target=\"_blank\" href=\"https:\/\/www.one.org\/us\/\" style=\"\" rel=\"noopener\">One<\/a>. The report found that Western nations reported projects like a coal power plant and coastal hotel projects as climate finance, as there are no guidelines for what countries can report to the United Nations as climate finance. Nigeria received 75% less than promised, with a deficit of USD 4.5 bn. Kenya also received USD 4.5 less than promised and Senegal's shortfall is around USD 2.8 bn. <\/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\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/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 target=\"_blank\" href=\"climate\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\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\/cop28\/\">COP28<\/a>\n                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class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">COP WATCH - FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/04\/loss-and-damage-agreement-finalized-uae-launches-usd-30-bn-alterra-climate-accelerator\/\">\r\n                            Loss and damage agreement finalized + UAE launches USD 30 bn Alterra climate accelerator                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/112.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"112.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/112.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/112.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-80982\" class=\"content-area-description single-story post-80982 post type-post status-publish format-standard has-post-thumbnail hentry category-cop-watch-finance tag-cop-watch-finance tag-cop28 tag-egypt tag-enterpriseclimate tag-green-finance tag-loss-and-damage tag-uae tag-world-bank wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.af739f80-601f-44a8-a032-8b108cfec8f2.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>After a year of heated deliberations, the loss and damage fund is finally in full <\/strong><strong>force:<\/strong> In a big scoop for developing countries who disproportionately bear the consequences of climate change, some 200 countries have finally signed off on operationalizing the long-awaited loss and damage fund established a year ago at COP27, according to <a target=\"_blank\" href=\"https:\/\/www.cop28.com\/en\/news\/2023\/11\/COP28-Presidency-unites-the-world-on-Loss-and-Damage\" style=\"\" rel=\"noopener\">statement<\/a> released on Thursday. The fund is set up to finance adaptation and mitigation efforts in climate vulnerable countries facing hurricanes, floods, droughts, and rising sea levels.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE came in strong, and others (slowly) follow:<\/strong> The fund\u2019s launch \u2014 which was announced at the COP28 opening plenary \u2014 came in parallel to the UAE pledging to contribute USD 100 mn into the fund, the statement said, despite some countries pushing for developed countries to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a0fb1c17-d354-40d9-bb11-06c61a10c7e2\" style=\"\" rel=\"noopener\">shoulder the responsibility<\/a> given its historical role in emission production. Germany, the UK, Japan, and the US also made initial contributions, standing at USD 100 mn, GBP 40 (c. USD 51 mn), USD 10 mn, and USD 17.5 mn, the statement disclosed. Since the fund\u2019s launch on Thursday, Norway said it is putting in <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/wealth\/sustainability\/cop28-norway-to-contribute-25mln-to-loss-and-damage-fund-m2j2za9s\" style=\"\" rel=\"noopener\">USD 25 mn<\/a>, Spain <a target=\"_blank\" href=\"https:\/\/twitter.com\/COP28_UAE\/status\/1731214218941100224\" style=\"\" rel=\"noopener\">EUR 20 mn<\/a> (USD 21.78 mn), Portugal <a target=\"_blank\" href=\"https:\/\/twitter.com\/COP28_UAE\/status\/1731226920023453980\" style=\"\" rel=\"noopener\">EUR 5 mn<\/a> (c. USD 5.44 mn), and Canada <a target=\"_blank\" href=\"https:\/\/www.cbc.ca\/news\/world\/bakx-cop28-guilbeault-loss-and-damage-1.7045991\" style=\"\" rel=\"noopener\">USD 16 mn<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re still nowhere near enough the demanded funds:<\/strong> The pledges made so far are only a negligible fraction of the <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/environment\/developing-countries-propose-100bn-climate-damage-fund-2023-09-06\/\" style=\"\" rel=\"noopener\">USD 100 bn<\/a> that a group of developed countries have identified as the minimum annual needs by 2030. <a target=\"_blank\" href=\"https:\/\/oxfamilibrary.openrepository.com\/bitstream\/handle\/10546\/582427\/rr-impacts-low-aggregate-indcs-ambition-251115-en.pdf;jsessionid=C2BF26E9CF0705630671F3821B7C7AE9?sequence=1\" style=\"\" rel=\"noopener\">One study<\/a> estimated that the economic cost of loss and damage to be USD 400 bn a year by 2030, while another <a target=\"_blank\" href=\"https:\/\/link.springer.com\/book\/10.1007%2F978-3-319-72026-5\" style=\"\" rel=\"noopener\">predicts a cost<\/a> of USD 290 and 580 bn a year by 2030.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mia Mottley calls for taxing polluting industries as a source for the fund: <\/strong>\u201cWhen you take USD 200 bn from oil and gas, USD 70 bn from international shipping, another USD 40-50bn from international air travelers and a financial transaction tax, we have a dedicated source of funds, not just for loss and damage, but to build resilience,\u201d Barbados Prime Minister and climate champion Mia Mottley <a target=\"_blank\" href=\"https:\/\/twitter.com\/LossandDamage\/status\/1730597300223828177\" style=\"\" rel=\"noopener\">said<\/a> in reference to a global movement calling for the taxation of fossil fuel profits as an alternative source of green financing. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Next steps:<\/strong> The World Bank, the fund\u2019s interim host, could start <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-01\/cop-28-climate-loss-and-damage-fund-could-start-early-next-year?leadSource=uverify%20wall\" style=\"\" rel=\"noopener\">doling out funds<\/a> in three months, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-01\/cop-28-climate-loss-and-damage-fund-could-start-early-next-year?leadSource=uverify%20wall\" style=\"\" rel=\"noopener\">Bloomberg<\/a> said on Friday. Meanwhile, World Bank head Ajay Banga told the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/59b86449-7567-4458-926e-1c382ba2bc3d\" style=\"\" rel=\"noopener\">Financial Times<\/a> that the bank will not hand out any financing before \u201ca raft of technical analysis\u201d is completed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A USD 30 bn Emirati climate venture:<\/strong>The UAE is launching a USD 30 bn \u201ccatalytic climate vehicle\u201d \u2014 dubbed Alterra \u2014 to improve access to climate funding for the Global South, according to a <a target=\"_blank\" href=\"https:\/\/www.cop28.com\/en\/news\/2023\/12\/commits-US$30-billion-in-catalytic--capital-to-launch-landmark\" style=\"\" rel=\"noopener\">statement<\/a> released on Friday. The venture \u2014 backed by <a target=\"_blank\" href=\"https:\/\/chimerainvestment.com\/Website\/en\/capitalltd.html\" style=\"\" rel=\"noopener\">Lunate Capital<\/a> \u2014 will have the USD 25 bn Alterra Acceleration program to direct institutional capital towards climate investments, as well as the USD 5 bn Alterra Transformation program to provide risk mitigation capital and incentivize investment flows into the Global South. The venture aims to mobilize USD 250 bn in green investments by 2030.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The initial commitment: <\/strong>Alterra \u2014 along with BlackRock, Brookfield, and TPG \u2014 have committed USD 6.5 bn to climate-dedicated funds, some of which are earmarked for 6 GW worth of renewables in India, 1.2 GW of which will start operation in 2025, the statement said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The World Bank increases climate finance target to USD 40 bn by 2025: <\/strong>The World Bank has set a target to increase its climate financing capacity to USD 40 bn by 2025 \u2014 around USD 9 bn more than what was last recorded by the bank, according to a <a target=\"_blank\" href=\"https:\/\/www.worldbank.org\/en\/news\/press-release\/2023\/12\/01\/world-bank-group-doubles-down-on-financial-ambition-to-drive-climate-action-and-build-resilience\" style=\"\" rel=\"noopener\">statement<\/a> released on Friday. The new target would increase the bank\u2019s climate-focused financing by 10% reaching 45% of the bank\u2019s total lending volume for FY2024\/2025. The World Bank set a target back in 2021 to <a target=\"_blank\" href=\"https:\/\/www.worldbank.org\/en\/news\/factsheet\/2022\/10\/31\/a-closer-look-at-world-bank-group-climate-finance\" style=\"\" rel=\"noopener\">extend 35%<\/a> of its overall lending capacity toward climate funding within 5 years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN OTHER WORLD BANK NEWS:<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The lender wants to scale climate finance through securitization:<\/strong> The World Bank is working with 15 finance firms to lower the risk of investing in climate projects in emerging economies and attract private capital. The lender's Private Sector Investment Lab is working on a model of \"originate-to-distribute\" to reel in big investors for climate projects. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-03\/world-bank-wants-to-lower-risk-for-clean-energy-projects?leadSource=uverify%2520wall&srnd=premium-europe\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Carbon credits could net USD 2.5 bn for 15 countries by 2028: <\/strong>By preserving their forests,15 countries including Ghana, Indonesia, and Vietnam, have potential to generate as much as 24 mn of the World Bank\u2019s carbon credits by next year before increasing the volume to 126 mn by 2028. If successful, this could add USD 2.5 bn to their combined GDPs. (<a target=\"_blank\" href=\"https:\/\/www.worldbank.org\/en\/news\/press-release\/2023\/12\/01\/world-bank-carbon-credits-to-boost-international-carbon-markets\" style=\"\" rel=\"noopener\">Statement<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More climate financing courtesy of the IFC:<\/strong>The IFC and several major charity organizations launched the Allied Climate Partners (ACP) which aims to raise <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sustainability\/sustainable-finance-reporting\/cop28-donors-join-ifc-lure-11-bln-climate-cash-2023-12-01\/\" style=\"\" rel=\"noopener\">USD 11 bn<\/a> for green projects in developing countries, according to a <a target=\"_blank\" href=\"https:\/\/pressroom.ifc.org\/all\/pages\/PressDetail.aspx?ID=27895\" style=\"\" rel=\"noopener\">statement<\/a> released on Friday. The Three Cairns Group and the Bezos Earth Fund plan to seed the fund with USD 235 mn and the IFC will contribute another USD 590 mn. The group will use an initial USD 825 mn to attract private funding. ACP, IFC, the Monetary Authority of Singapore, and Temasek will also establish <a target=\"_blank\" href=\"https:\/\/pressroom.ifc.org\/all\/pages\/PressDetail.aspx?ID=27899\" style=\"\" rel=\"noopener\">a green investments partnership<\/a> to address climate finance gaps and increase the bankability of green and sustainable projects in Asia.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The<\/strong><strong>US will pour USD 3 bn into Green Climate Fund: <\/strong>The US has pledged to allocate USD 3 bn to the <a target=\"_blank\" href=\"https:\/\/www.greenclimate.fund\/\" style=\"\" rel=\"noopener\">Green Climate Fund<\/a>, aimed at supporting developing countries in achieving their carbon reduction and adaptation targets, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-02\/us-pledges-3-billion-for-climate-aid-to-poor-countries-at-cop28?srnd=green&leadSource=uverify%20wall\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing statements made by Vice President Kamala Harris said on Saturday. The latest USD 3 bn contribution from the US comes after USD 9.3 bn has been pledged by the UK, France, Germany, and Japan, among other countries, to fund climate projects in countries affected by climate change between 2024 and 2027. With the new commitment, the Green Climate Fund has been replenished with USD 12.3 bn in total, COP28 president Sultan Al Jaber <a target=\"_blank\" href=\"https:\/\/twitter.com\/COP28_UAE\/status\/1731003715048349706\" style=\"\" rel=\"noopener\">said<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Still not enough:<\/strong> Even with the current replenished Green Climate Fund, the pledged sum represents a small portion of the USD 340 bn of <a target=\"_blank\" href=\"https:\/\/www.unep.org\/news-and-stories\/press-release\/impacts-accelerate-adapting-climate-change-must-become-global#:~:text=Estimated%20annual%20adaptation%20needs%20are%20USD%20160%2D340%20billion%20by%202030%20and%20USD%20315%2D565%20billion%20by%202050.\" style=\"\" rel=\"noopener\">climate finance required by 2030<\/a>. The adaptation finance needs announced by the UN are to help developing countries adapt to the warming climate and support them in implementing adaptation and mitigation policies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OTHER STORIES TO KEEP AN EYE ON-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EU <\/strong><strong>offers Morocco EUR 50 mn for its green transition: <\/strong>Morocco signed a joint statement with the European Union on Saturday agreeing to receive EUR 50 mn in financing to help expand the kingdom\u2019s green energy and carbon removal programs. The agreement will activate the terms of the <a target=\"_blank\" href=\"https:\/\/ec.europa.eu\/commission\/presscorner\/detail\/en\/ip_23_423\" style=\"\" rel=\"noopener\">green partnership<\/a> signed by Morocco and the EU last year. (<a target=\"_blank\" href=\"https:\/\/bitly.ws\/34fN4\" style=\"\" rel=\"noopener\">Maghreb Arabe Press<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investcorp <\/strong><strong>launches climate investment platform:<\/strong> Mubadala-backed Investcorp launched on Friday a USD 750 mn <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ded5136e-f43e-45b0-8e82-fd4fc5c4d250\" style=\"\" rel=\"noopener\">climate-focused investment platform<\/a> focused on developing emission-reducing innovative products and tech. The asset manager plans to make 10-15 investments in the next 4-5 years, with each funding round ranging between USD 50-75 mn. (<a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/business\/economy\/2023\/12\/01\/investcorp-launches-750m-climate-focused-investment-platform\/\" style=\"\" rel=\"noopener\">The National<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt <\/strong><strong>to debut voluntary carbon market at COP28: <\/strong>In preparation for launching its first <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/122aee84-4d2a-4d00-a671-3dc10484a290\" style=\"\" rel=\"noopener\">voluntary carbon market<\/a> during COP, Egypt has identified 16 sectors \u2014 including renewable energy, waste management, and carbon capture \u2014 in which it aims to attract investments in carbon trading. (<a target=\"_blank\" href=\"https:\/\/bitly.ws\/33URx\" style=\"\" rel=\"noopener\">Sky News<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DIFC boosts sustainable funding: <\/strong>The Dubai International Financial Centre (DIFC) rolled out its Sustainable Finance Catalyst, aimed to ramp up sustainable funding raised from Dubai to USD 100 bn by 2030. The catalyst is set to include the launch of the first AI-powered sustainability knowledge hub aimed at providing businesses with expedient and cost-efficient sustainable financing and investment data. (<a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2023\/December\/03-12\/DIFC\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CIBAFI to tackle climate crisis with Islamic sustainability: <\/strong>The General Council for Islamic Banks and Financial Institutions (CIBAFI), the Islamic Financial Services Board and the Accounting and Auditing Organization for Islamic Financial Institutions have introduced a roadmap to amplify the role of Islamic financial services in advancing sustainability and confronting worldwide climate-related challenges. (<a target=\"_blank\" href=\"https:\/\/www.cibafi.org\/CIBAFINewsDetail?ContentId=48586\" style=\"\" rel=\"noopener\">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\/cop-watch-finance\/\">COP WATCH - FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/cop28\/\">COP28<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/111.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/111.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-80984\" class=\"content-area-description single-story post-80984 post type-post status-publish format-standard has-post-thumbnail hentry category-cop-watch-agreements tag-amea-power tag-cop-watch-agreements tag-cop28 tag-egypt tag-enterpriseclimate tag-geothermal tag-masdar tag-rwe tag-scatec tag-solar-energy tag-uae tag-wind-energy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.2b8a6d3d-974d-4a9c-a151-30114ec2c719.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Masdar is making the rounds at COP28: <\/strong>UAE renewables player Masdar is sweeping the circuit at the summit, inking on the dotted line to launch renewables projects in Europe, Central Asia, and Africa.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company is widening its presence in the UK:<\/strong> Masdar signed an agreement with German energy company RWE to purchase 49% of RWE\u2019s 3 GW Dogger Bank South offshore wind farms as part of its larger GBP 11 bn investment ticket into UK renewables, <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/apx2if2-masdar-joins-forces-with-rwe-%C2%A311-billion\" style=\"\" rel=\"noopener\">Wam<\/a> reported on Friday. The acquisition will pave the way for Masdar and RWE to jointly co-develop the two offshore wind farms with construction starting as early as 2025, according to a RWE <a target=\"_blank\" href=\"https:\/\/www.rwe.com\/en\/press\/rwe-offshore-wind-gmbh\/2023-12-01-rwe-and-masdar-form-joint-ventures\/\" style=\"\" rel=\"noopener\">statement<\/a>. The first 800 MW of electricity is planned to come online in 2029 with the aim to fully commission the projects by late 2031, the statement added. Closing of the agreement is subject to customary approvals and expected in 1Q 2024, Wam notes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And expanding in Kazakhstan<\/strong><strong>:<\/strong>The company signed a joint development agreement (JDA) with W Solar, Qazaq Green Power QGP \u2014 owned by Kazakh sovereign wealth fund Samruk-Kazyna \u2014 and the Kazakhstan Investment Development Fund to develop a 1 GW wind energy farm in the Central Asian country, <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/apxny41-uae-and-kazakhstan-sign-landmark-agreements\" style=\"\" rel=\"noopener\">Wam<\/a> reported on Saturday. The project marks Masdar\u2019s first entry into Kazakhstan. The financial details and a timeline for the project were not disclosed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Then moved further south in Angola: <\/strong>Masdar also signed an agreement with Angola\u2019s Energy and Water Ministry to develop a 150 MW onshore solar power plant in the Hulia province of the African country, <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/apxnxmd-masdar-develop-150mw-solar-plant-angola-power\" style=\"\" rel=\"noopener\">Wam<\/a> reported on Saturday. The financial details of the agreement and a timeline for the project was not disclosed. Once operational, the project is set to offset 224k tons of CO2 annually and provide enough clean power to some 90k households in Angola<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Masdar has green ambition in Africa: <\/strong>The project falls in line with the UAE-led USD 10 bn Africa Green Investment Initiative, Wam notes. Masdar is planning to develop 10 GW of renewables projects in the continent by 2030 in a bid to provide clean electricity to 100 mn people by 2035. Back in January, Masdar inked two agreements to develop <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/642a71da-f162-4cad-97e7-adc364b2d780\" style=\"\" rel=\"noopener\">3 GW worth of solar projects<\/a> in Angola and Uganda and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ae5c70f9-e2dd-4262-986f-0d4bce65f3ce\" style=\"\" rel=\"noopener\">4 GW worth of renewables projects<\/a> in Zambia and Ethiopia.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OTHER MASDAR STORIES TO NOTE-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Boosted capacity for Indonesian floating solar project:<\/strong> Masdar and Indonesia\u2019s state-owned PLN signed an agreement to proceed with plans to add up to 500 MW capacity to its Cirata <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/7b5f2290-bd7e-4c67-adec-35d5b28f598d\" style=\"\" rel=\"noopener\">145 MW floating solar plant<\/a> in Indonesia and to explore green hydrogen projects. (<a target=\"_blank\" href=\"https:\/\/masdar.ae\/en\/news\/newsroom\/masdar-and-pln-advance-plans-to-develop\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An eye on<\/strong><strong>Greece's green infrastructure: <\/strong>Masdar signed an agreement with the Greek Ministry of Environment and Energy to collaborate on a green infrastructure in Poros Island including renewable energy projects, decarbonising the island's vehicle fleet and maritime transportation, and waste management projects. (<a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/apxnxm6-masdar-hellenic-republics-ministry-environment-and\" style=\"\" rel=\"noopener\">Wam<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>10 GW worth of projects in Malaysia:<\/strong> Masdar signed an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/d04e81ad-9740-4cda-93d8-d1b74fe22f90\" style=\"\" rel=\"noopener\">implementation roadmap<\/a> with Malaysia to proceed with the development of 10 GW worth of clean energy projects including round-mounted, rooftop, and floating solar power plants, onshore wind farms, and battery energy storage systems. (<a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/apx2i92-uae-president-and-king-malaysia-witness-major-step\" style=\"\" rel=\"noopener\">Wam<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Scatec<\/strong><strong>boosts Egypt green energy profile at COP28:<\/strong> Norwegian renewables developer Scatec inked a USD 1.1 bn agreement with the Suez Canal Economic Zone to supply ships with green fuel in east Port Said, according to a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/2aepbtax\" style=\"\" rel=\"noopener\">statement<\/a> released yesterday. The green fuel\u2019s 190 MW electrolyzer will be powered by 317 MW wind and 140 MW solar energy with a production target of 100k tons of green methanol annually by 2027.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And there\u2019s more: <\/strong>The Norwegian firm also signed an agreement with the Egyptian Electricity Holding Company to establish a 1 GW solar and 200 MWh battery storage project in Egypt, according to a <a target=\"_blank\" href=\"https:\/\/scatec.com\/2023\/12\/02\/scatec-at-cop28-accelerating-renewable-energy-transition-from-egypt-to-south-africa\/\" style=\"\" rel=\"noopener\">statement<\/a> released on Saturday. The African Development Bank Group signed a letter of intent for the financing package of the project yet the value of the project wasn\u2019t disclosed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE\u2019s Amea Power taps into Ethiopia wind energy market: <\/strong>UAE renewables company Amea Power signed an agreement with Ethiopia\u2019s Finance Ministry to build a a USD 600 mn, 300 MW onshore wind power plant in the African country, according to a <a target=\"_blank\" href=\"https:\/\/bit.ly\/3TaJZcY\" style=\"\" rel=\"noopener\">statement<\/a>. The Aysha wind farm will span 18k acres, making it the country\u2019s largest once operational. A timeline on when construction would begin on the plant was not provided. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And eyes Kenya\u2019s geothermal sector:<\/strong> The UAE firm is also reportedly set to sign a USD 800 mn agreement with Geothermal Development Co. of Kenya to develop the 200 MW Baka geothermal energy generation plant in the African country, <a target=\"_blank\" href=\"https:\/\/bit.ly\/3uOKy1D\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reported on Saturday, citing a source with knowledge of the matter. The expected timeline of the project and Amea\u2019s stake in the venture was not provided. Back in September, Amea Power said it plans to establish <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ed27f271-4ef0-4c19-a983-e5cc49fbe87c\" style=\"\" rel=\"noopener\">a 1 GW green hydrogen plant<\/a> in Kenya\u2019s Mombasa port as part of a commitment to mobile USD 5 bn to finance development of several renewable energy projects in Africa that would yield a 5 GW power capacity by 2030.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OTHER STORIES WORTH KNOWING-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Acwa Power finalizes agreement on Kazakh wind farm: <\/strong>The Saudi renewables giant finalized its agreement to build a 1 GW wind power and battery energy storage project \u2014 which it signed a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/91a51a1d-d59c-498b-9ac0-c4563a8b6395\" style=\"\" rel=\"noopener\">roadmap agreement<\/a> for in June with Samruk-Kazyna \u2014 in Kazakhstan. The project is expected to cost USD 1.8 bn. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/kazakhstan-signs-deals-3gw-wind-power-2023-12-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE <\/strong><strong>+ Philippines partner on mitigation efforts<\/strong>: UAE's Ministry of Climate Change and Environment signed an MoU with the Philippines Climate Change Commission to cooperate on mitigating the impacts of climate change, adaptation efforts, and preserving natural resources and biodiversity. (<a target=\"_blank\" href=\"https:\/\/twitter.com\/MoCCaEUAE\/status\/1731264285634920621\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UN and UAE partner to accelerate the energy transition:<\/strong> Executive Secretary of the UN\u2019s Framework Convention on Climate Change (UNFCC) Simon Stiell signed an agreement with the UAE\u2019s Independent Climate Change Accelerators (UICCA) to expand cooperation on climate finance, carbon market development, green tech investments, and youth upskilling in the climate adaptation and green energy sectors. (<a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/apxnxaf-unfccc-uicca-partner-advance-global-action-climate\" style=\"\" rel=\"noopener\">Wam<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tadweer <\/strong><strong>+ Aquagrain to debut waste to soil tech:<\/strong> UAE's Tadweer and the UK's <a target=\"_blank\" href=\"https:\/\/www.aquagrain.co.uk\/\" style=\"\" rel=\"noopener\">Aquagrain<\/a> will partner on an ADQ-backed USD 2.5 mn pilot project to deploy Aquagrain's soil enhancing tech which uses organic waste to grow crops in arid lands using 50% less water and inorganic fertilizers. The project will pave the way for the first-ever commercial scale Aquagrain production facility to be launched in Abu Dhabi. (<a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/apx2hom-tadweer-aquagrain-deploy-uae%E2%80%99s-first-ever-organic\" style=\"\" rel=\"noopener\">Wam<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Opec <\/strong><strong>Fund to partner with Irena + IAEA on climate action: <\/strong>The <a target=\"_blank\" href=\"https:\/\/www.opec.org\/opec_web\/en\/about_us\/716.htm\" style=\"\" rel=\"noopener\">Opec Fund<\/a> is expected to sign agreements during COP28 to support climate action and resilience in developing nations. It will partner with the International Atomic Energy Agency (IAEA), the International Renewable Energy Agency, and development banks to address climate-related challenges and food security. (<a target=\"_blank\" href=\"https:\/\/english.ahram.org.eg\/NewsContent\/3\/12\/513124\/Business\/Economy\/OPEC-Fund-to-sign-agreements-for-climate-action-at.aspx\" style=\"\" rel=\"noopener\">Ahram Online<\/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\/amea-power\/\">Amea Power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/cop-watch-agreements\/\">COP WATCH - AGREEMENTS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/cop28\/\">COP28<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                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class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">COP WATCH - POLICY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/04\/116-countries-commit-to-tripling-the-worlds-renewable-energy-capacity-and-20-countries-boost-global-nuclear-energy-efforts\/\">\r\n                            Nations vow to scale up renewable + nuclear capacity                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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                   <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/115.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"80987\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/04\/116-countries-commit-to-tripling-the-worlds-renewable-energy-capacity-and-20-countries-boost-global-nuclear-energy-efforts\/115-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/115.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"115.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/115.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/115.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-80986\" class=\"content-area-description single-story post-80986 post type-post status-publish format-standard has-post-thumbnail hentry category-cop-watch-policy tag-climate-policy tag-cop-watch-policy tag-cop28 tag-decarbonization tag-enterpriseclimate tag-methane-emissions tag-nuclear-energy tag-renewables tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.8afcbffb-dcdc-4a15-b009-ae9c96736212.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A very productive start to COP28: <\/strong>The global climate event of the year showed promising and decisive steps over the weekend toward climate policy and action, chief among them a swell of support behind the commitment to triple the global renewable energy capacity.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>116 states committed to the Global Renewables and Energy Efficiency Pledge, vowing to <\/strong><strong>triple global renewable energy generation to 11 TW by 2030<\/strong>, according to a COP28 <a target=\"_blank\" href=\"https:\/\/www.cop28.com\/en\/news\/2023\/12\/COP28-Presidency-launches-landmark-initiatives-accelerating-the-energy-transition\" style=\"\" rel=\"noopener\">statement<\/a>. The pledge \u2014 which <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sustainability\/cop\/eu-us-cop28-hosts-rally-support-global-deal-triple-renewable-energy-documents-2023-11-01\/\" style=\"\" rel=\"noopener\">Reuters<\/a> released a draft of last month \u2014 also includes a commitment by signatories to slash global reliance on fossil fuels, cut financing for coal power plants, reduce methane emissions, and a target to improve energy efficiency by 4% by the end of the decade. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And over 20 countries aim to triple nuclear energy production:<\/strong> Led by the US, over 20 countries inked a declaration to triple the world\u2019s nuclear energy production by 2050, according to a <a target=\"_blank\" href=\"https:\/\/www.energy.gov\/articles\/cop28-countries-launch-declaration-triple-nuclear-energy-capacity-2050-recognizing-key\" style=\"\" rel=\"noopener\">statement<\/a> by the US Energy Department. The declaration \u2014 endorsed by countries including France, Britain, Japan, and South Korea \u2014 calls for major investments to ramp up the world\u2019s nuclear power capacity which currently stands at <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sustainability\/climate-energy\/over-110-countries-set-join-cop28-deal-triple-renewable-energy-2023-12-02\/\" style=\"\" rel=\"noopener\">370 GW<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DECARBONIZATION-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The EU is allocating EUR 175 mn for methane reduction: <\/strong>The EU vowed to allocate EUR 175 mn to support effective action on methane emission reduction, according to a European Commission <a target=\"_blank\" href=\"https:\/\/ec.europa.eu\/commission\/presscorner\/detail\/en\/statement_23_6259\" style=\"\" rel=\"noopener\">statement<\/a> released on Friday. Some of the funds will be used to finance the International Methane Emissions Observatory\u2019s activities including the collection of the data, or research into even better mechanisms to collect emission-related data. The funds will be written off to the US Methane Finance Sprint initiative, which said it aims to mobilize at least <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/42eeb848-551d-4de6-86e0-24a4ed860faa\" style=\"\" rel=\"noopener\">USD 200 mn during COP28<\/a>. This comes two weeks after the bloc <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/42eeb848-551d-4de6-86e0-24a4ed860faa\" style=\"\" rel=\"noopener\">approved a provisional law<\/a> to set methane emission curbs for future oil and gas imports into the bloc.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Philanthropies are backing the efforts with USD mns: <\/strong>Nearly a dozen giant philanthropies \u2014 including the Bezos Earth Fund and Bloomberg Philanthropies \u2014 said they will invest USD 450 mn over the next three years to help countries launch national actions to tackle methane, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sustainability\/climate-energy\/cop28-sidelines-philanthropies-invest-450-million-help-tackle-methane-2023-12-02\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported on Saturday. Since last year\u2019s climate summit, the US, the EU, and philanthropy groups have raised over USD 1 bn in donations to help cut methane emissions, US Special Presidential Envoy for Climate Change John Kerry said, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-02\/cop28-latest-us-backs-tripling-nuclear-energy-vp-harris-lands?srnd=green&leadSource=uverify%20wall#:~:text=1%20Billion%20in%20Grants%20Raised%20for%20Slashing%20Methane%20(6%3A15%20pm)\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And the US is also using a methane mandate:<\/strong> The US issued standards and guidelines limiting methane emissions and other harmful air pollution from \u201cnew, modified and reconstructed\u201d oil and natural gas operations for the first time, according to a <a target=\"_blank\" href=\"https:\/\/www.epa.gov\/controlling-air-pollution-oil-and-natural-gas-operations\/epas-final-rule-oil-and-natural-gas\" style=\"\" rel=\"noopener\">statement<\/a> released by the Environmental Protection Agency (EPA) on Saturday. The mandate requires fossil fuel producers to monitor and eliminate methane leakage into the atmosphere, as well as natural gas flaring from new oil wells. The rule \u2014 which has been two years in the making \u2014 targets cutting methane emissions in the oil and gas sector by 80% over the next 15 years, preventing some 58 mn tons of the \u201csuper pollutant\u201d from being released into the atmosphere, according to an EPA <a target=\"_blank\" href=\"https:\/\/www.epa.gov\/system\/files\/documents\/2023-12\/key-things-to-know-about-epas-final-rule-for-oil-and-natural-gas-operations.fact-sheet.pdf\" style=\"\" rel=\"noopener\">document (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- 50 oil companies sign decarbonization charter: <\/strong> Exxon Mobil and 49 other oil and gas companies signed the <a target=\"_blank\" href=\"https:\/\/www.cop28.com\/en\/news\/2023\/12\/Oil-Gas-Decarbonization-Charter-launched-to--accelerate-climate-action\" style=\"\" rel=\"noopener\">Oil and Gas Decarbonization Charter<\/a> (OGDC) in efforts to accelerate the sector\u2019s journey to net-zero by 2050, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-02\/cop28-exxon-aramco-occidental-and-more-pledge-methane-cuts?srnd=green&leadSource=uverify%20wall\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported on Saturday. The pact, rolled out by Saudi Arabia and the COP28 Presidency, sets a net zero by 2030 emissions target, in parallel to an emphasis on ramping up investments in renewables and other low-carbon technologies. While the targets stipulated in the charter are non-binding, the signatories \u2014 which make up over 40% of the oil sector worldwide \u2014 will be required to submit their decarbonization plans by 2050, Bloomberg writes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some notable signatories:<\/strong> Out of the 50 oil and gas companies that inked the charter, 29 are state-owned producers, including the UAE\u2019s Adnoc and Saudi Arabia\u2019s Aramco \u2014 the largest national oil exporter in the world. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HEALTH-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>COP28\u2019s maiden declaration on climate and health is a success: <\/strong>124 countries signed the UAE Climate and Health Declaration launched by the World Health Organization, the Emirati Health Ministry, and the COP28 presidency, according to a <a target=\"_blank\" href=\"https:\/\/www.cop28.com\/en\/news\/2023\/12\/Health-Declaration-delivering-breakthrough-moment-for-health-in-climate-talks\" style=\"\" rel=\"noopener\">statement<\/a>. The declaration marks the first official recognition of the impacts of climate change on public health and aims to spur global policy intervention to address the health impacts of climate change and place protecting public and community health at the core of climate action.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Big funds pledged: <\/strong>A group of stakeholders \u2014 including signatory governments, financing institutions, and NGOs \u2014 have agreed to allocate USD 1 bn to tackle the ongoing climate-health crisis. The Global Fund has committed USD 300 mn to upgrade health systems and the Rockefeller Foundation has said it will invest <a target=\"_blank\" href=\"https:\/\/www.rockefellerfoundation.org\/news\/the-rockefeller-foundation-commits-usd-100-million-to-test-and-scale-climate-and-health-solutions-globally\/\" style=\"\" rel=\"noopener\">USD 100 mn<\/a> in climate-health solutions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MANUFACTURING- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Kenya launches green industrialization initiative: <\/strong>Kenyan President William Ruto has joined forces with the UAE COP28 presidency to launch the Africa Green Industrialization Initiative (AGII) at COP28, according to a <a target=\"_blank\" href=\"https:\/\/www.cop28.com\/en\/news\/2023\/12\/Kenyas-President-Ruto-convenes-African-Leaders\" style=\"\" rel=\"noopener\">statement<\/a>. The program targets upscaling green industries and businesses across African nations towards advancing the transition to a green economy and bolstering mitigation and adaptation procedures across the continent. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OTHER STORIES TO KEEP AN EYE ON-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EU heads lobby to tax jet fuel:<\/strong> The European Union will be pushing for an agreement to impose an international tax on aviation fuel (to be charged per flight) at COP28. The funds collected by the bloc from taxing the aviation sector would be used to fund climate actions. Other countries backing the lobby include China, Zambia, Brazil and the GCC. (<a target=\"_blank\" href=\"https:\/\/rb.gy\/wcrs7k\" style=\"\" rel=\"noopener\">The Financial Times<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US and others commit to coal phasedown\u2026: <\/strong>The United States, along with the Czech Republic, the Dominican Republic and four other countries, have joined 50 other nations in the <a target=\"_blank\" href=\"https:\/\/poweringpastcoal.org\/\" style=\"\" rel=\"noopener\">Powering Past Coal Alliance<\/a>. By joining the coalition, the states have committed themselves to accelerating the global coal phasedown efforts towards transitioning to clean energy. (<a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/coal-climate-change-eliminate-electricity-e5e41ae56f672fa50e7e3e593726d5a6\" style=\"\" rel=\"noopener\">Associated Press<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shipping heavyweights call for tighter carbon regulations: <\/strong>The CEOs of global shipping lines MSC, Maersk, CMA CGM, Hapag-Lloyd, and Wallenius Wilhelmsen called for a tighter greenhouse gas emissions regulatory framework. The shipping giants also called for a deadline for ceasing production of fossil fuel-only vessels. (<a target=\"_blank\" href=\"https:\/\/www.maersk.com\/news\/articles\/2023\/12\/01\/shipping-ceos-join-forces-to-accelerate-the-decarbonization-of-the-global-maritime-transport\" style=\"\" rel=\"noopener\">Statement<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WTO <\/strong><strong>rolls out trade policy guidelines: <\/strong>The World Trade Organization (WTO) launched a 10-point Trade Policy Tools for Climate Action publication on the sidelines of COP28. The policy toolkit provides governments with a set of trade procedures aimed at supporting and accelerating climate efforts. (<a target=\"_blank\" href=\"https:\/\/www.wto.org\/english\/news_e\/news23_e\/publ_02dec23_e.htm\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Macron, Bloomberg unveil pilot climate data platform:<\/strong> French President Emmanuel Macron and philanthropist Mike Bloomberg have launched the pilot Net-Zero Data Public Utility to provide businesses with essential climate data. The utility is set to be the first centralized open database for climate data across industries including in-depth information on the carbon footprint and decarbonization targets for up to 400 companies. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.org\/press\/president-emmanuel-macron-and-michael-r-bloomberg-deliver-proof-of-concept-for-groundbreaking-net-zero-data-public-utility-at-cop28\/\" style=\"\" rel=\"noopener\">Bloomberg Philanthropies<\/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-policy\/\">CLIMATE POLICY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/cop-watch-policy\/\">COP WATCH - POLICY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/cop28\/\">COP28<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/decarbonization\/\">decarbonization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/methane-emissions\/\">methane emissions<\/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\/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=\"80988 advertiser\" class=\"issue-section enterprise-adv\">\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=\"80988\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/04\/80988\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-80988\" class=\"content-area-description single-story post-80988 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/weareiph.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1828.jpg?ssl=1\"><\/a><\/span><\/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=\"80989\" 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=\"80989\">\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\">GREEN HYDROGEN<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/04\/oman-and-european-friends-explore-green-hydrogen-corridor\/\">\r\n                            Oman and European friends explore green hydrogen corridor                        <\/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\/12\/04\/oman-and-european-friends-explore-green-hydrogen-corridor\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            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href=\"https:\/\/api.whatsapp.com\/send?text=Oman+and+European+friends+explore+green+hydrogen+corridor+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F12%2F04%2Foman-and-european-friends-explore-green-hydrogen-corridor%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\/12\/04\/oman-and-european-friends-explore-green-hydrogen-corridor\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/126.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"80990\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/04\/oman-and-european-friends-explore-green-hydrogen-corridor\/126-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/126.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"126.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/126.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/126.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-80989\" class=\"content-area-description single-story post-80989 post type-post status-publish format-standard has-post-thumbnail hentry category-green-hydrogen tag-enterpriseclimate tag-green-hydrogen tag-hydrom tag-oman tag-port-of-amsterdam tag-zenith-energy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.7a1fe425-6a37-4b69-9426-c7d91065e627.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oman explores the feasibility of export green hydrogen to Europe: <\/strong>Oman\u2019sMinistry of Energy and Minerals and Hydrogen Oman (Hydrom)signed a Joint Study Agreement (JSA) with Port of Amsterdam, Zenith Energy Terminals, and GasLog to create a liquid hydrogen supply chain to deliver Omani green hydrogen to the Port of Amsterdam, according to a <a target=\"_blank\" href=\"https:\/\/mem.gov.om\/en-us\/Media-Center\/News\/ArtMID\/608\/ArticleID\/1373\/Oman-announces-plans-for-Common-Infrastructure-for-Green-Hydrogen-Liquefaction-and-Export\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> Both parties will carry out a detailed assessment of the requirements for an open-access hydrogen liquefaction, storage, and export facility in Oman and the development of specialized vessels for transporting liquid hydrogen by GasLog, the statement notes. The open-access liquefaction facility also allows Oman to explore cost-effective hydrogen export routes to other global markets. <\/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\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/hydrom\/\">Hydrom<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/oman\/\">Oman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/port-of-amsterdam\/\">Port of Amsterdam<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/zenith-energy\/\">Zenith Energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"80991\" 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=\"80991\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/04\/bapco-energies-closes-a-usd-2-2-bn-amend-and-extend-transaction\/\">\r\n                            Bapco Energies closes a USD 2.2 bn amend and extend transaction                        <\/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\/12\/04\/bapco-energies-closes-a-usd-2-2-bn-amend-and-extend-transaction\/\" 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\/12\/04\/bapco-energies-closes-a-usd-2-2-bn-amend-and-extend-transaction\/')\">\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\/12\/04\/bapco-energies-closes-a-usd-2-2-bn-amend-and-extend-transaction\/\">\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=Bapco Energies closes a USD 2.2 bn amend and extend transaction&url=https:\/\/enterpriseam.com\/climate\/2023\/12\/04\/bapco-energies-closes-a-usd-2-2-bn-amend-and-extend-transaction\/\">\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\/12\/04\/bapco-energies-closes-a-usd-2-2-bn-amend-and-extend-transaction\/&title=Bapco Energies closes a USD 2.2 bn amend and extend transaction\">\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=Bapco+Energies+closes+a+USD+2.2+bn+amend+and+extend+transaction+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F12%2F04%2Fbapco-energies-closes-a-usd-2-2-bn-amend-and-extend-transaction%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\/12\/04\/bapco-energies-closes-a-usd-2-2-bn-amend-and-extend-transaction\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1773.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"80992\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/04\/bapco-energies-closes-a-usd-2-2-bn-amend-and-extend-transaction\/1773-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1773.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1773.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1773.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1773.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-80991\" class=\"content-area-description single-story post-80991 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-bahrain tag-bapco-energies tag-debt-watch tag-enterpriseclimate wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.695c8f92-0fb6-47d7-b517-cdffe97e9da5.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bahrain's Bapco Energies successfully closed a USD 2.2 bn <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.lawinsider.com\/dictionary\/amend-and-extend-transaction\" style=\"\" rel=\"noopener\">amend and extend<\/a><\/strong><strong>transaction of its dual-tranche sustainability-linked term facility<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.bapcoenergies.com\/en\/press-releases\/bapco-energies-successfully-completes-amend-and-extend-of-existing-2-2-billion-dual-tranche-sustainability-linked-murabaha-and-conventional-term-facility-with-an-upsize-to-2-5-billion\" style=\"\" rel=\"noopener\">statement<\/a> released last week. The transaction adds a USD 300 mn <a target=\"_blank\" href=\"https:\/\/www.investopedia.com\/terms\/g\/greenshoe.asp\" style=\"\" rel=\"noopener\">green shoe option<\/a>, bringing the total facility size to USD 2.5 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the transaction: <\/strong>The transaction extended the maturity date from 2026 to 2030. The sustainability-linked KPIs, covering emissions intensity and health and safety, were amended to align with best practices and definitions of the International Association of Oil & Gas Producers (IOGP) and Bapco\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ea3ae457-7cc9-46f5-a054-24f063bf5683\" style=\"\" rel=\"noopener\">newly issued sustainability-linked financing framework<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> Gulf International Bank and Mashreq acted as the initial mandated lead arrangers, bookrunners, and sustainability coordinators. Gulf International Bank, Mashreq, and Al Ahli Bank of Kuwait acted as the amend and restate exercise coordinators and underwriters. Gulf International Bank also acted as a facility agent, global agent, and murabaha investment agent.<\/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\/bahrain\/\">Bahrain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/bapco-energies\/\">Bapco Energies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/debt-watch\/\">DEBT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"80993\" 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=\"80993\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">CLIMATE POLICY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/04\/dubai-launches-new-initiative-to-help-electrify-its-manufacturing-sector\/\">\r\n                            Dubai launches new initiative to help electrify its manufacturing 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\/12\/04\/dubai-launches-new-initiative-to-help-electrify-its-manufacturing-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\/12\/04\/dubai-launches-new-initiative-to-help-electrify-its-manufacturing-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\/12\/04\/dubai-launches-new-initiative-to-help-electrify-its-manufacturing-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=Dubai launches new initiative to help electrify its manufacturing sector&url=https:\/\/enterpriseam.com\/climate\/2023\/12\/04\/dubai-launches-new-initiative-to-help-electrify-its-manufacturing-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\/12\/04\/dubai-launches-new-initiative-to-help-electrify-its-manufacturing-sector\/&title=Dubai launches new initiative to help electrify its manufacturing 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=Dubai+launches+new+initiative+to+help+electrify+its+manufacturing+sector+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F12%2F04%2Fdubai-launches-new-initiative-to-help-electrify-its-manufacturing-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\/12\/04\/dubai-launches-new-initiative-to-help-electrify-its-manufacturing-sector\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/118.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"80994\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/04\/dubai-launches-new-initiative-to-help-electrify-its-manufacturing-sector\/118-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/118.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"118.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/118.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/118.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-80993\" class=\"content-area-description single-story post-80993 post type-post status-publish format-standard has-post-thumbnail hentry category-climate-policy tag-climate-policy tag-enterpriseclimate tag-renewables tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.999870d0-61e8-462f-9c7b-f69767e2a6e7.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New Dubai initiative aims to decarbonize manufacturing industry: <\/strong>Dubai has revealed a new initative led by the Dubai Water and Electricity Authority (Dewa) \u2014 in line with the <a target=\"_blank\" href=\"https:\/\/u.ae\/en\/about-the-uae\/strategies-initiatives-and-awards\/strategies-plans-and-visions\/finance-and-economy\/dubai-economic-agenda-d33\" style=\"\" rel=\"noopener\">Dubai Economic Agenda (D33)<\/a> \u2014 aimed at transitioning its manufacturing sector toward clean energy sources, <a target=\"_blank\" href=\"https:\/\/bit.ly\/3R4f4MM\" style=\"\" rel=\"noopener\">Wam<\/a> reported last week. The initiative aims to enable manufacturers to source their own power needs from low-carbon sources in a bid to push down energy bills and slash emissions while leveraging the affordability of UAE renewables projects like the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/66d56efc-43f3-4761-97d0-72329c6d0269\" style=\"\" rel=\"noopener\">2 GW Al Dhafra Solar Independent Power Project<\/a> \u2019s competitive tariffs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The initiative will set up the necessary technical frameworks for industry players \u2014 including manufacturers, data centers and agri-tech companies \u2014 to incorporate solar power into their total <a target=\"_blank\" href=\"https:\/\/studyelectrical.com\/2021\/09\/what-is-connected-load.html\" style=\"\" rel=\"noopener\">connected load<\/a>, the news agency notes. It will also enable developers to purchase MWh-by-MWh renewable energy certificates \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/5070e864-29fe-47db-8463-f926142f787f\" style=\"\" rel=\"noopener\">similar to the ones issued<\/a> by the Emirates Water and Electricity Company \u2014 to prove they own or created renewable energy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN OTHER UAE POLICY NEWS- Abu Dhabi released its 2050 Energy Outlook: <\/strong>The Abu Dhabi Department of Energy (DoE) released its 2050 Energy Outlook with the aim of mobilizing further net zero policy development across the Emirate, <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/apwh1zz-complete-decarbonisation-possible-2050-with\" style=\"\" rel=\"noopener\">Wam<\/a> reported on Thursday. The report \u2014 which has been in the works for a year and is modeled on DoE\u2019s <a target=\"_blank\" href=\"https:\/\/www.doe.gov.ae\/Abu-Dhabi-Integrated-Energy-Model%5C\" style=\"\" rel=\"noopener\">Integrated Energy Model<\/a> \u2014 will serve as a 2050 net zero roadmap for Abu Dhabi across its transport, construction, manufacturing, and power sectors. Renewables currently makeup 40% of Abu Dhabi\u2019s energy mix, and the Emirate is looking to increase the capacity by 20% by 2035. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Business as usual would blow Abu Dhabi\u2019s climate targets:<\/strong> Under a business as usual premise whereby Abu Dhabi maintains its currency climate pledges, DoE predicts that by 2050 the Emirate\u2019s energy mix will be dominated by natural gas with only a moderate development in renewables and an insufficient carbon capture and storage capacity. The Emirate would push down its carbon output by just 29% compared to 2021 levels under this scenario, Wam notes. <\/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-policy\/\">CLIMATE POLICY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/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=\"80995\" 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=\"80995\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">CLIMATE DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/04\/saudi-and-brazil-discuss-renewable-energy-cooperation\/\">\r\n                            Saudi and Brazil discuss renewable energy cooperation, UAE and Colombia boost partnership on energy, and Oman works with Switzerland on 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\/12\/04\/saudi-and-brazil-discuss-renewable-energy-cooperation\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/climate\/2023\/12\/04\/saudi-and-brazil-discuss-renewable-energy-cooperation\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/climate\/2023\/12\/04\/saudi-and-brazil-discuss-renewable-energy-cooperation\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Saudi and Brazil discuss renewable energy cooperation&url=https:\/\/enterpriseam.com\/climate\/2023\/12\/04\/saudi-and-brazil-discuss-renewable-energy-cooperation\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/climate\/2023\/12\/04\/saudi-and-brazil-discuss-renewable-energy-cooperation\/&title=Saudi and Brazil discuss renewable energy cooperation\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Saudi+and+Brazil+discuss+renewable+energy+cooperation+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F12%2F04%2Fsaudi-and-brazil-discuss-renewable-energy-cooperation%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/04\/saudi-and-brazil-discuss-renewable-energy-cooperation\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/120.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"80996\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/04\/saudi-and-brazil-discuss-renewable-energy-cooperation\/120-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/120.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"120.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/120.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/120.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-80995\" class=\"content-area-description single-story post-80995 post type-post status-publish format-standard has-post-thumbnail hentry category-climate-diplomacy tag-climate-diplomacy tag-enterpriseclimate tag-oman tag-saudi-arabia tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.b6fce5ee-5d1e-4519-a72e-d420b7903c03.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>KSA<\/strong><strong>+ Brazil talk energy cooperation:<\/strong> The governments of Brazil and Saudi Arabia discussed potential investments in sectors including renewables, mining, and agriculture, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N2005968\" style=\"\" rel=\"noopener\">SPA<\/a> reported last week. The two countries met at the Saudi-Brazilian Roundtable Meeting in Riyadh, where they were looking to explore ways to expand partnerships in those sectors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>UAE + Colombia ink CEPA to boost collaboration on energy: <\/strong>UAE Minister for Foreign Trade Thani bin Ahmed Al Zeyoudi and Colombian Minister of Industry, Commerce, and Tourism German Uma\u00f1a concluded Comprehensive Economic Partnership Agreement (CEPA) negotiations for the first bilateral trade agreement between the Gulf and South America on Saturday. The CEPA is set to enhance collaboration in several areas, including energy. (<a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/apxnxde-uae-and-colombia-finalise-terms-comprehensive\" style=\"\" rel=\"noopener\">Wam<\/a>)<\/li>\n<li><strong>Oman signs agreement with Switzerland on green hydrogen projects: <\/strong>Oman\u2019s Ministry of Energy and Minerals and the Swiss Federal Office of Energy signed an MoU to develop bilateral cooperation in green hydrogen projects and exchange knowledge and expertise in relevant laws, regulations, and policies. (<a target=\"_blank\" href=\"https:\/\/timesofoman.com\/article\/139207-oman-swiss-confederation-sign-mous-in-different-fields\" style=\"\" rel=\"noopener\">Times of Oman<\/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\/climate-diplomacy\/\">CLIMATE DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/oman\/\">Oman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"80997\" 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=\"80997\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/04\/green-mobility-updates-from-the-uae-and-ksa-egypt-gets-more-green-funding-from-the-afdb\/\">\r\n                            Green mobility updates from the UAE and KSA + Egypt gets more green funding from the AfDB                        <\/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\/12\/04\/green-mobility-updates-from-the-uae-and-ksa-egypt-gets-more-green-funding-from-the-afdb\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/04\/green-mobility-updates-from-the-uae-and-ksa-egypt-gets-more-green-funding-from-the-afdb\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/122.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"80998\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/04\/green-mobility-updates-from-the-uae-and-ksa-egypt-gets-more-green-funding-from-the-afdb\/122-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/122.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"122.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/122.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/122.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-80997\" class=\"content-area-description single-story post-80997 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-enterpriseclimate tag-evtol tag-green-mobility tag-saudi-arabia tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.2afa77f7-fb10-4f3a-88c6-261ff13a1059.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GREEN MOBILITY-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><\/strong><strong>Eve<\/strong><strong>Air Mobility + Saudi's Flynas partner on eVTOLs:<\/strong> Brazilian eVTOL company <a target=\"_blank\" href=\"https:\/\/eveairmobility.com\/\" style=\"\" rel=\"noopener\">Eve<\/a><a target=\"_blank\" href=\"https:\/\/eveairmobility.com\/\" style=\"\" rel=\"noopener\">Air<\/a><a target=\"_blank\" href=\"https:\/\/eveairmobility.com\/\" style=\"\" rel=\"noopener\">Mobility<\/a> has signed an MoU with Saudi Arabia's air carrier and the leading low-cost airline Flynas to explore operating eVTOLs in KSA, according to a <a target=\"_blank\" href=\"https:\/\/eveairmobility.com\/eve-air-mobility-and-flynas-sign-mou-to-propel-evtol-advancements-in-saudi-arabia\/\" style=\"\" rel=\"noopener\">statement<\/a> released last week. The agreement will see them explore deploying eVTOLS in Riyadh and Jeddah in 2026. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wisdom Motor debuts hydrogen city bus in Abu Dhabi: <\/strong>Zero-emission vehicle innovator Wisdom Motor has partnered with the Integrated Transport Centre (ITC) of the Department of Municipalities and Transport (DMT) in Abu Dhabi to bring the first 12-meter hydrogen city bus to the region, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/zero-emission-vehicle-innovator-wisdom-motor-brings-12-meter-hydrogen-city-bus-in-new-cooperation-to-support-the-uaes-green-mobility-agenda-hy23fpyf\" style=\"\" rel=\"noopener\">statement<\/a> released last week. Wisdom Motor and the ITC\u2019s cooperation will provide new green mobility solutions to Abu Dhabi and bolster the ITC\u2019s Green Bus Assessment Program, the statement said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>POLICY-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IFC inks agreements with Tunisian partners to promote ESG performance: <\/strong>The International Finance Corporation (IFC) has signed agreements with the Tunisian Stock Exchange, the Tunisian Institute of Directors, and the Universit\u00e9 Centrale to promote ESG practices in Tunisia's banking sector, <a target=\"_blank\" href=\"https:\/\/www.tap.info.tn\/en\/Portal-Economy\/16864609-esg-standards-ifc\" style=\"\" rel=\"noopener\">Tunis Africa Press Agency (TAP)<\/a> reports.The agreement will implement an 18-month technical partnership to help Tunisian partners meet ESG standards mandated in Europe and elsewhere, IFC Resident Representative in Tunisia Sarah Morsi told TAP. The IFC is looking to expand its presence in the country with a USD 100 mn investment earmarked for the agri-food sector this year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GREEN FINANCE-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AfDB supports Egypt\u2019s green economy with fresh funding:<\/strong> The African Development Bank (AfDB) has signed off on a USD 131 mn support package for Egypt to promote private-sector development, economic diversification, and green transition, according to a <a target=\"_blank\" href=\"https:\/\/www.afdb.org\/en\/news-and-events\/press-releases\/egypt-african-development-bank-approves-131-million-promote-private-sector-development-and-economic-diversification-66268\" style=\"\" rel=\"noopener\">statement<\/a> released last week. The program will target increasing private investment, allocating state land for renewable energy projects, promoting manufacturing, and reducing the time to process business licenses among other objectives. Last month, the AfDB said it <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/b3b4cfdb-9935-4ea8-ae73-77d5aaba2f56\" style=\"\" rel=\"noopener\">would commit USD 350 mn<\/a> by the end of the year to develop Egypt\u2019s infrastructure and energy sectors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>ADA completes region\u2019s first helicopter flight using SAF: <\/strong>Abu Dhabi Aviation (ADA) has completed two flights with Italian aerospace company Leonardo\u2019s AW139 helicopter powered by sustainable aviation fuels (SAF), marking a first in the MENA region. (<a target=\"_blank\" href=\"https:\/\/www.leonardo.com\/en\/press-release-detail\/-\/detail\/30-11-2023-first-saf-powered-rotorcraft-flight-in-uae-and-middle-east-set-by-abu-dhabi-aviation-s-aw139-commercial-helicopter\" style=\"\" rel=\"noopener\">Statement<\/a>) <\/li>\n<li><strong>Masdar Green REIT secures ADGM Green Fund Designation: <\/strong>Masdar Green Real Estate Investment Fund (REIT) has received the ADGM Green Fund Designation for advancing green real estate investment. The fund's portfolio includes 10 green buildings with LEED Gold or Platinum ratings. (<a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/apwh2bl-masdar-green-reit-becomes-first-fund-receive-adgm\" style=\"\" rel=\"noopener\">Wam<\/a>) <\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/evtol\/\">EVTOL<\/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\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"80999\" 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\/12\/04\/80999\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-80999\" class=\"content-area-description single-story post-80999 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 style=\"padding-top:0pt;margin:0;padding-left:0;padding-bottom:17pt;line-height:1.15;orphans:2;widows:2;text-align:left;padding-right:0\"><span style=\"font-weight:700\">NOVEMBER 2023<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30 November - 12 December (Thursday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/unfccc.int\/\" style=\"\">Conference of the Parties (COP 28)<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER 2023<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1-10 December (Friday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/abudhabisustainabilityweek.com\/en\/media\/news\/adsw-sets-out-bold-global-climate-action-agenda-at-cop28\" style=\"\">Abu Dhabi Sustainability Week COP28 Special Edition<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3-7 December (Sunday- Thursday) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.qu.edu.qa\/sites\/en_US\/about\/events\/The-Third-International-Congress-of-Engineering-and-Technology-%E2%80%93-ICET%E2%80%932023\" style=\"\">International Congress of Engineering and Technology (ICET)<\/a><\/span><span style=\"font-weight:400;\">, Doha, Qatar. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4 December (Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.greeninitiatives.gov.sa\/about-sgi\/\" style=\"\">Saudi Green Initiative Forum<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4 December (Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/abudhabisustainabilityweek.com\/en\/Media\/News\/ADSW-to-Host-Special-Edition-at-COP28\" style=\"\">Abu Dhabi Sustainability Week (ADSW)<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-7 December (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/wam.ae\/en\/details\/1395303210320\" style=\"\">International Conference on Global Warming<\/a><\/span><span style=\"font-weight:400;\">, Ras Al Khaimah, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>6-7 December (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/events.reutersevents.com\/energy-transition\/energy-mena?gad=1&gclid=CjwKCAjwp8OpBhAFEiwAG7NaEkLySAaI28xtTFfTJpxpdId4Xty5U8JBg8CGmDkjoI7AEv9U5WtmQBoCxdcQAvD_BwE\" style=\"\">Reuters\u2019 Energy Transition MENA Conference<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>7-8 December (Thursday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/fii-institute.org\/conference\/priority-asia-in-hong-kong\/#section-236-345\" style=\"\">Future Investment Initiative (FII) Priority<\/a><\/span><span style=\"font-weight:400;\">, Hong Kong.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>8 December (Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/masdar.ae\/Strategic-Platforms\/Youth-4-Sustainability\/Youth-4-Sustainability-Hub\" style=\"\">Youth for Sustainability Forum (Y4S)<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>12-14 December (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/ghseoman\/\" style=\"\">Green Hydrogen Summit Oman<\/a><\/span><span style=\"font-weight:400;\">, Muscat, Oman.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>18-20 December (Monday-Wednesday):<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudi-sg.com\/en\/\" style=\"\">Saudi Arabia Smart Grid Conference<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JANUARY 2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>9-11 January (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.futuremineralsforum.com\/\" style=\"\">Future Minerals Forum<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, Saudi Arabia. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">FEBRUARY 2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-28 February (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/conferences.uaeu.ac.ae\/warms2024\/en\/index.shtml\" style=\"\">Management and Sustainability of Water Resources<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MARCH 2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-6 March (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/dust.ncm.gov.sa\/register\/\" style=\"\">International Conference on Sand and Dust Storms in the Arabian Peninsula<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">APRIL 2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>16-18 April (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldfutureenergysummit.com\/\" style=\"\">World Future Energy Summit<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>23-25 April (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.mena.gh2events.com\/\" style=\"\">Connecting Green Hydrogen MENA<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MAY 2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>19-21 May (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudienergyconvention.com\/\" style=\"\">Saudi Energy Convention<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, KSA. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE 2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5 June (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.unep.org\/news-and-stories\/press-release\/saudi-arabia-host-world-environment-day-2024-focus-land-restoration\" style=\"\">World Environment Day<\/a><\/span><span style=\"font-weight:400;\">, Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER 2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10-12 October (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/aemobforum.com\/\" style=\"\">Autonomous E-Mobility Forum<\/a><\/span><span>, Doha, Qatar. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER 2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-13 December (Monday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.unccd.int\/news-stories\/notifications\/sixteenth-session-unccd-conference-parties-cop-16-riyadh\" style=\"\">Conference of the Parties (COP16) to the United Nation Convention to Combat Desertification<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, KSA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2024 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>Early 2024: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/us-algeria-energy-and-investment.org\/\" style=\"\">The 2023 US Algeria Energy Forum<\/a><\/span><span style=\"font-weight:400;\">, Washington DC, USA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>12-14 February (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.safcongressmena.com\/\" style=\"\">Sustainable Aviation Futures MENA Congress<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End-2024: Emirati <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/ar.ae\" style=\"\">Masdar<\/a><\/span><span>\u2019s 500 MW wind farm in Uzbekistan to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/13a804af-a659-4152-82b2-a3c920862f2b\" style=\"\">begin commercial operations<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.qatarenergy.qa\/en\/Pages\/Home.aspx\" style=\"\">QatarEnergy<\/a><\/span><span>\u2019s industrial cities solar power project <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/afa55bc3-dec6-4f46-b806-25518b05cda1\" style=\"\">will start electricity<\/a><\/span><span style=\"font-weight:400;\"> production. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2025 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.iucn.org\/our-union\/iucn-world-conservation-congress\" style=\"\">International Union for Conservation of Nature World Conservation Congress<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi, UAE. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>UAE to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9ec60000-0539-4d85-baf5-5beaf020a34f\" style=\"\">have over 1k<\/a><\/span><span style=\"font-weight:400;\"> EV charging stations installed. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2026 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-29 October (Monday-Thursday):  <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.spa.gov.sa\/en\/N2002883\" style=\"\">World Energy Congress<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, Saudi Arabia.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/uitpsummit.org\/\" style=\"\">UITP Global Public Transport Summit<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldbank.org\/en\/news\/press-release\/2023\/04\/19\/imf-and-the-world-bank-group-to-hold-2026-annual-meetings-in-bangkok-thailand\" style=\"\">Annual Meetings of the World Bank and the International Monetary Fund<\/a><\/span><span style=\"font-weight:400;\">, Bangkok, Thailand.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1Q 2026: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.qatarenergy.qa\/en\/Pages\/Home.aspx\" style=\"\">QatarEnergy<\/a><\/span><span>\u2019s USD 1 bn blue ammonia plant <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/77469f6c-f938-4a97-8cac-3146b39b6cbe\" style=\"\">to be completed<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End-2026: HSBC Bahrain to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a2ead528-71fb-423b-a6f8-e18b2c9897d8\" style=\"\">eliminate single-use<\/a><\/span><span style=\"font-weight:400;\"> PVC plastic cards. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>MENA\u2019s district cooling market is <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/59376411-8296-47dc-87cc-43ddc792bba4\" style=\"\">expected to reach<\/a><\/span><span style=\"font-weight:400;\"> USD 15 bn.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2030 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>UAE\u2019s Abu Dhabi Commercial Bank (ADCB) wants to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ea65a4f2-e77c-426b-8ad0-9120704954f6\" style=\"\">provide AED 35 bn<\/a><\/span><span style=\"font-weight:400;\"> in green financing. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>UAE <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a9c832ed-f423-479e-884d-90cabefe3a0b\" style=\"\">targets 14 GW<\/a><\/span><span style=\"font-weight:400;\"> in clean energy capacity.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>Tunisia <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/7c5659c7-cf17-4cd6-9d18-c8afb5c643fb\" style=\"\">targets 30%<\/a><\/span><span style=\"font-weight:400;\"> of renewables in its energy mix.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>Qatar wants to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/7881b1d2-724a-4914-ba85-0545e72901c9\" style=\"\">generate USD 17 bn<\/a><\/span><span style=\"font-weight:400;\"> from its circular economy, creating 9k-19k jobs. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>Morocco\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/xlinks.co\/morocco-uk-power-project\/\" style=\"\">Xlinks<\/a><\/span><span> solar and wind energy project to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/52aefc63-82e3-42e3-8afc-960461fa5288\" style=\"\">generate 10.5 GW<\/a><\/span><span style=\"font-weight:400;\"> of energy.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2035 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>Qatar to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/77469f6c-f938-4a97-8cac-3146b39b6cbe\" style=\"\">capture up to 11 mn tons<\/a><\/span><span style=\"font-weight:400;\"> of CO2 annually. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2045 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Qatar\u2019s Public Works Authority\u2019s (Ashghal) USD 1.5 bn sewage treatment facility to reach 600k cm\/d capacity. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2050<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/Presidencedugouvernementtunisien\/posts\/pfbid02urYKuUDF91i7dtVRR3yrSFzM4p5aG1JUormqfgnbjuUMTSGzmL2DrY8Z7wyfA7vBl?locale=ar_AR\" style=\"\">Tunisia\u2019s carbon neutrality target<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2060 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>Nigeria aims to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ea65a4f2-e77c-426b-8ad0-9120704954f6\" style=\"\">achieve its net-zero<\/a><\/span><span> emissions target.<\/span><\/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":"<p>Loss and damage fund is up and running | Masdar sweeps up a spate of new agreements | 116 countries agree to triple renewable energy generation<\/p>\n","protected":false},"featured_media":80978,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-80977","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"89f80671-a7ce-49df-b190-df700bcd50f4","teaser":"Loss and damage fund is up and running | Masdar sweeps up a spate of new agreements | 116 countries agree to triple renewable energy generation","photo_url":"https:\/\/ent.news\/2021\/6\/1667.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>COP28 kicks off with a bang, the loss and damage fund is finalized and operational - Climate<\/title>\n<meta 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