{"id":82232,"date":"2024-02-07T00:00:00","date_gmt":"2024-02-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=82232"},"modified":"2025-12-15T10:18:14","modified_gmt":"2025-12-15T10:18:14","slug":"menas-renewable-energy-performance-will-surge-over-the-next-five-years-iea-says","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/menas-renewable-energy-performance-will-surge-over-the-next-five-years-iea-says\/","title":{"rendered":"MENA\u2019s renewable energy performance will surge over the next five years, IEA says"},"content":{"rendered":"<section id=\"82234\" 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=\"82234\">\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\/2024\/02\/07\/today-lots-of-green-finance-updates-menas-renewables-performance-in-the-spotlight\/\">\r\n                            TODAY: Lots of green finance updates + MENA\u2019s renewables performance in the spotlight                        <\/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\/2024\/02\/07\/today-lots-of-green-finance-updates-menas-renewables-performance-in-the-spotlight\/\" 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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But first\u2026<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt1\"><\/a>THE BIG CLIMATE STORY OUTSIDE THE REGION- The EU issues its most <\/strong><strong>ambitious climate action roadmap yet: <\/strong>The EU Commission recommended a landmark proposal to push down <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/29b4d631-254c-4e80-9f2c-f01ebf194da5\" style=\"\" rel=\"noopener\">90% the<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/29b4d631-254c-4e80-9f2c-f01ebf194da5\" style=\"\" rel=\"noopener\">bloc\u2019s<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/29b4d631-254c-4e80-9f2c-f01ebf194da5\" style=\"\" rel=\"noopener\">greenhouse gas emissions<\/a> by 2040 compared to 1990 levels in parliament yesterday, outlining a roadmap with annual investments of up to EUR 1.5 tn between 2031 and 2040. The EU proposes slashing fossil fuel use by 80% in the energy sector by 2040 compared to 2021 and expanding carbon capture capacity to 280 mn tonnes by the same timeframe. The proposal will kick off months of talks that could take up to a year before the European Parliament approves the strategy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Revising the draft to appease EU farmers:<\/strong> A previous draft had set a target for the agriculture sector to reduce 30% of its non-CO2 emissions by 2040 from 2015 levels to comply with the meet the new climate goal, but after <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/spanish-farmers-blockade-roads-joining-eu-peers-protests-2024-02-06\/\" style=\"\" rel=\"noopener\">weeks of protest<\/a> by farmers against EU green policies\u2019 impact on the bloc\u2019s agricultural sector\u2019s competitiveness, the commission removed the goal from the final draft. <\/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\/world\/europe\/eu-set-recommend-deep-co2-cuts-2040-climate-target-2024-02-06\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-02-06\/eu-s-von-der-leyen-risks-green-backlash-with-plan-for-deeper-emissions-cuts\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/environment\/2024\/feb\/06\/eu-lays-out-plan-to-cut-greenhouse-emissions-by-90-by-2040\" style=\"\" rel=\"noopener\">The Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/02\/06\/climate\/eu-climate-plan-emissions-intl\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/climate-environment\/2024\/02\/06\/europe-climate-emissions-protests\/\" style=\"\" rel=\"noopener\">The Washington Post<\/a> | <a target=\"_blank\" href=\"https:\/\/www.euronews.com\/my-europe\/2024\/02\/06\/brussels-recommends-new-eu-climate-target-a-90-cut-of-all-greenhouse-gas-emissions-by-2040\" style=\"\" rel=\"noopener\">Euronews<\/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 class=\"tag-border-left\">WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a>#1- KSA + Switzerland set to launch a multi EUR bn fund with an eye on green <\/strong><strong>investments<\/strong><strong>:<\/strong> In collaboration with an undisclosed Swiss investor, Saudi Arabia is planning to launch a fund worth bns of EUR to finance netzero investments across the kingdom\u2019s logistics, finance, and industrial sectors, the <a target=\"_blank\" href=\"https:\/\/cdn.saudigazette.com.sa\/article\/640209\" style=\"\" rel=\"noopener\">Saudi Gazette<\/a> reports, citing <a target=\"_blank\" href=\"https:\/\/twitter.com\/mimgov\/status\/1754563444374732959\/photo\/3\" style=\"\" rel=\"noopener\">comments<\/a> made by Investment Minister Khalid Al Falih during a bilateral roundtable. KSA\u2019s Industry and Mineral Resources Minister Bandar Alkhorayef and Swiss Federal Councillor Guy Bernard were also present at the roundtable, which saw both countries discuss partnerships aimed at helping the kingdom secure some USD 1.8 tn in international funding for clean power projects. Saudi Arabia is cumulatively targeting USD 3.3 tn investments for \u201cmega projects\u201d across various development sectors, including aviation and green energy, Al Falih said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt3\"><\/a>#2- Egypt\u2019s Gabal El Zeit wind farm stake sale is nearing: <\/strong>Egypt will finalize the 580 MW Gabal El Zeit wind farm stake sale before the end of March, Egypt\u2019s Planning Minister and Sovereign Fund of Egypt (SFE) Chair Hala El Said told <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/msdtt3bt\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. We last heard Gabal El Zeit and the 545 MW Zafarana wind farm stake sales would be <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c947fd3b-f940-4acd-a93e-9a1c02d2aad7\" style=\"\" rel=\"noopener\">wrapping up in 1Q 2024<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where do things currently stand? <\/strong>The SFE has reportedly appointed Belgium-headquartered engineering and consultancy firm Tractebel to act as a consultant for the sale of stakes in the Gabal El Zeit farm and the 545 MW Zafarana wind farm. A number of local and foreign investors have shown interest in the two farms \u2014 Saudi Arabia\u2019s Acwa Power, the UAE\u2019s Alcazar Energy, UK-based private equity outfit Actis, and our friends at Egyptian renewables firm Infinity. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Jordan has reportedly appointed a consultancy firm to conduct a study aimed at <\/strong><strong>improving investment terms for renewable energy-centered PPAs<\/strong>, <a target=\"_blank\" href=\"https:\/\/alghad.com\/Section-210\/%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF-%D8%A7%D9%84%D9%85%D8%AD%D9%84%D9%8A\/%D8%A7%D9%84%D8%B7%D8%A7%D9%82%D8%A9-%D8%B9%D8%AF%D9%85-%D8%AB%D8%A8%D8%A7%D8%AA-%D8%A7%D9%84%D8%AA%D8%B9%D9%84%D9%8A%D9%85%D8%A7%D8%AA-%D9%88%D8%A7%D9%84%D9%82%D9%88%D8%A7%D9%86%D9%8A%D9%86-%D9%8A%D8%B2%D8%B9%D8%B2%D8%B9-%D8%A7%D9%84%D8%AB%D9%82%D8%A9-%D8%A8%D8%A7%D9%84%D8%B4%D8%B1%D8%A7%D9%83%D8%A9-%D8%A8%D9%8A%D9%86-%D8%A7%D9%84%D9%82%D8%B7%D8%A7%D8%B9%D9%8A%D9%86-1606506\" style=\"\" rel=\"noopener\">Al Ghad<\/a> reports, citing a government official. Earlier this week, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/edition\/climate\/b6262384-0065-4695-a7c5-bb69cfc62603\/Abu-Dhabi-is-getting-a-renewable-energy-industrial-complex\" style=\"\" rel=\"noopener\">cabinet<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/edition\/climate\/b6262384-0065-4695-a7c5-bb69cfc62603\/Abu-Dhabi-is-getting-a-renewable-energy-industrial-complex\" style=\"\" rel=\"noopener\">approved<\/a> a draft law to establish frameworks to facilitate the power purchase of renewable power generated by households and businesses.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Just in time: <\/strong>Although the government\u2019s investment and legislative environment spurred USD 4 bn in financing towards its green sector between 2008-2023, developers say high tariffs and land prices are stifling further growth, Al Ghad writes. AJOD 2 (c. USD 2.8) government tariff \u2014 agreed upon after several revisions \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/53cf2a8f-c34e-408b-91ce-574f6a8b8d55\" style=\"\" rel=\"noopener\">on each KW produced from renewables<\/a>, along with limited land allocations for clean power developments which drive up costs, are limiting the growth of the national renewable energy sector, Kawar Energy Company Director Hana Zaghloul told the news outlet. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- <\/strong><strong>EU <\/strong><strong>agrees on first set of ESG rating rules for companies:<\/strong> The European Union has agreed on its first set of rules to oversee the environmental, social and governance (ESG) ratings of companies, which are used by investors to assess their sustainability performance, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sustainability\/eu-agrees-its-first-ever-rules-esg-raters-sector-shake-up-2024-02-06\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. The new rules \u2014 which will require ESG raters to be authorized and supervised by the European Securities and Markets Authority \u2014 aim to increase transparency and prevent greenwashing, as well as encourage more analysis on the impact of ESG factors on the company's financial performance. The deal is expected to come into force after it gets formal approval in 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This came as no surprise: <\/strong>This comes a week after the International Ethics Standards Board for Accountants (IESBA) released a new <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/996562ba-558e-48ff-b3e4-a5ff9b929c8e\" style=\"\" rel=\"noopener\">international ethical benchmark<\/a> for sustainability reporting and assurance in a bid to prevent greenwashing. The EU had <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ab9d29fa-b9ee-4505-bd70-37ffcaed06f9\" style=\"\" rel=\"noopener\">delayed the ESG disclosure rules<\/a> until 2026 after being asked to prioritize the broader ESG disclosures that all companies must include in their annual reports from 2024 onwards. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DANGER ZONE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Most emerging markets and developing economies (EMDEs) face severe barriers to <\/strong><strong>raising capital for climate and conservation goals due to an ongoing debt crisis<\/strong>, a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/460.pdf\" style=\"\" rel=\"noopener\">new report<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/460.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a> by the Boston University Global Development Policy Center warned. The report identifies 62 EMDEs currently in debt distress or at high risk of distress and another 33 face significant capital market restrictions all of which require a gradual increase of funding of over USD 2 tn yearly to achieve the UN Sustainable Development Goals 2030, and USD 1 tn international capital for climate action, the report adds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What can be done? <\/strong>The report calls for urgent reforms of the global financial system, including debt restructuring, capital increases for multilateral development banks (MDBs), and new issuances of the IMF's <a target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/Topics\/special-drawing-right\" style=\"\" rel=\"noopener\">Special Drawing Rights<\/a>. It also highlights the roles and responsibilities of different creditor types, such as MDBs, bondholders, Paris Club creditors and China, in providing debt relief and lowering the cost of capital for sustainable development. It also urges multilateral action through initiatives such as IMF\u2019s <a target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/About\/FAQ\/gsd-roundtable\" style=\"\" rel=\"noopener\">Global Sovereign Debt Roundtable<\/a>, rather than ad hoc deals with specific debtors and groups of creditors. <\/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<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">***<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>YOU\u2019RE READING ENTERPRISE CLIMATE, the essential MENA publication for senior execs who care about the world\u2019s most important industry. <\/strong>We\u2019re out Monday through Thursday by 9am Cairo \/ 10am Riyadh \/ 11am UAE.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EXPLORE MORE OF ENTERPRISE ON THE WEB \u2014<\/strong><a target=\"_blank\" href=\"http:\/\/www.enterprise.news\" style=\"\" rel=\"noopener\">tap or click here<\/a> to read EnterpriseAM, EnterprisePM, Enterprise Climate, Enterprise Logistics, and The Weekend Edition on our powerful new website packed with reader-friendly features. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Were you forwarded this email? <strong>Get your own <\/strong><strong><a target=\"_blank\" href=\"https:\/\/climate.enterprise.news\/climate\/en\/user\/NewsLetters\" style=\"\" rel=\"noopener\">subscription without charge here<\/a><\/strong> or reach out to us on <a target=\"_blank\" href=\"mailto:climate@enterprisemea.com\" style=\"\" rel=\"noopener\">climate@enterprisemea.com<\/a> with comments, suggestions and story tips.<br \/><strong>***<\/strong><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><strong>CIRCLE YOUR CALENDAR- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.egypes.com\/exhibition\/visitor-registration\/?actioncode=DIG2&utm_source=search&utm_medium=cpc&utm_campaign=visprom&utm_term=egyps&gad_source=1&gclid=CjwKCAiAtt2tBhBDEiwALZuhAN2zAhQXEPpPBPkOGQKqu_yqP9kd5-STi_DShwshsbtwI-_gOyW55RoCLYQQAvD_BwE\" style=\"\" rel=\"noopener\">Egypt Energy Show<\/a><\/strong><strong> from Monday, 19 February to Wednesday, 21 <\/strong><strong>February<\/strong> in Cairo. The event will gather 35k energy industry professionals and host over 80 conferences on energy transition and sustainable production.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/conferences.uaeu.ac.ae\/warms2024\/en\/index.shtml\" style=\"\" rel=\"noopener\">Management and Sustainability of Water Resources<\/a><\/strong><strong> Conference <\/strong><strong>from Monday, 26 February to Wednesday 28 February<\/strong> in Dubai. Water availability in arid and semiarid regions, global water issues, and future water and environmental challenges are all on the agenda.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Arabia will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/dust.ncm.gov.sa\/register\/\" style=\"\" rel=\"noopener\">International Conference on Sand and Dust Storms in the<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/dust.ncm.gov.sa\/register\/\" style=\"\" rel=\"noopener\">Arabian Peninsula<\/a><\/strong><strong> from Monday, 4 March to Wednesday, 6 March <\/strong>in Riyadh. The conference will address regional challenges caused by sand and dust storms and discuss monitoring systems, mitigation strategies, economic and infrastructural impacts, and more. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-finance\/\">green finance<\/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\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/wind-energy\/\">Wind Energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"82236\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n\r\n    <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide mx-auto\">\r\n        <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/25497.png?ssl=1\">\r\n        <div class=\"overlay\"><\/div>\r\n        <div class=\"content\">\r\n            <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/25398.svg\" alt=\"\">\r\n            <\/a>\r\n            <span>Opening up a world of opportunity<\/span>\r\n        <\/div>\r\n    <\/div>\r\n\r\n      <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"82237\" 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=\"82237\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">GREEN FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/02\/07\/egypt-eligible-to-receive-risk-assurances-for-climate-projects-from-uks-newly-launched-ggc\/\">\r\n                            Egypt eligible to receive risk assurances for climate projects from UK\u2019s newly launched GGC                        <\/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\/2024\/02\/07\/egypt-eligible-to-receive-risk-assurances-for-climate-projects-from-uks-newly-launched-ggc\/\" 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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href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+eligible+to+receive+risk+assurances+for+climate+projects+from+UK%E2%80%99s+newly+launched+GGC+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2024%2F02%2F07%2Fegypt-eligible-to-receive-risk-assurances-for-climate-projects-from-uks-newly-launched-ggc%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\/2024\/02\/07\/egypt-eligible-to-receive-risk-assurances-for-climate-projects-from-uks-newly-launched-ggc\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/24.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"82238\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2024\/02\/07\/egypt-eligible-to-receive-risk-assurances-for-climate-projects-from-uks-newly-launched-ggc\/24-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/24.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"24.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/24.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/24.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82237\" class=\"content-area-description single-story post-82237 post type-post status-publish format-standard has-post-thumbnail hentry category-green-finance tag-egypt tag-enterpriseclimate tag-green-finance tag-uk tag-un 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\/2024\/2\/.1c9be974-6df8-4ad5-8cb0-5d5bd2d2ca63.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><\/strong><strong>GGC launches to unlock climate financing for EMs: <\/strong>The UK\u2019s GreenGuarantee Company (GGC) \u2014 which officially launched last Friday \u2014 is leveraging USD 100 mn in seed investments to provide assurances that it hopes will eventually unlock up to USD 1 bn of climate financing for developing countries including Egypt, according to a <a target=\"_blank\" href=\"https:\/\/greenguarantee.co\/launch-of-global-guarantee-company-to-mobilise-billions-in-climate-finance\/\" 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>What we know:<\/strong> The assurances \u2014 which will reduce risk for global investors looking to tap the clean energy sector in emerging markets \u2014 will be underpinned by an investment grade rating of BBB\/Stable from Fitch Ratings, the statement notes, adding that they \u201cwill be provided for institutional investors buying green bonds issued and listed on the London Stock Exchange (LSE) and green loans issued in the private credit market.\u201d The UN\u2019s Green Climate Fund (GCF) was amongst the investors who put money into the fund.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why does this matter: <\/strong>What GGC does enables emerging markets to access long-term, hard currency climate financing to combat climate change, the statement explains. By helping emerging markets improve the credit ratings of assets to above investment grade, guarantees enable borrowers in developing countries to access a far bigger pool of capital at a lower cost, the company added. In our neck of the woods, <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/inflation-international-monetary-fund-beirut-lebanon-business-6f7fb7e8bfa93ca23e6caaf47a61f8d7\" style=\"\" rel=\"noopener\">Lebanon<\/a> and Egypt are grappling with an FX crisis, potentially threatening their pipeline of renewables projects. Last week, Egypt saw its currency slip back to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/5ef621ed-7dbf-4490-bcae-0ab8291fdd29\/Here%E2%80%99s-what-to-watch-for-as-reports-suggest-we%E2%80%99re-closing-in-on-a-USD-9-bn-agreement-with-the-IMF.\" style=\"\" rel=\"noopener\">record lows<\/a> against the USD. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GGC\u2019s investors:<\/strong> Alongside GCF, The UK\u2019s Foreign Commonwealth & Development Office through its MOBILIST programme, the Nigeria Sovereign Investment Authority, USAID, Prosper Africa, and Norfund, have contributed to the initial USD 100 mn seed capital.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A step towards just climate financing:<\/strong> The assurances will be offered to companies whose countries\u2019 sovereign ratings typically \u201ctrap them\u201d in an-investor repellant bubble that sees them fail to secure long-term debt needed for development projects, GGC co-founder Lasitha Perera told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-02-06\/the-trick-that-makes-climate-investing-in-poor-countries-less-risky\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The GGC will initially prioritize private credit and ensure debt capital for green infrastructure, renewable resources, alternative energy, and clean transportation across countries eligible for official development assistance in Africa, Asia and Latin America, including Egypt, Vietnam, and Kenya, the statement notes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s more: <\/strong>GGC will also support emerging markets in issuing green bonds in the global debt markets, working with borrowers on climate impact disclosures for targeted sustainability-linked listings and loans, the company says. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Eying global debt markets: <\/strong>The GGC will initially focus on private credit and guaranteeing debt capital on LSE\u2019s green bond market, before seeking out private sector funding as a part of a target to shore up a USD 5 bn capacity by 2035 at least, the statement notes. The company is planning to expand beyond LSE to other international stock exchanges as part of its 2035 target.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-finance\/\">green finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uk\/\">UK<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/un\/\">UN<\/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=\"82239\" 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=\"82239\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">GREEN FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/02\/07\/emirates-nbd-egypt-is-offering-loans-that-cover-100-of-solar-stations-for-individuals\/\">\r\n                            Emirates NBD Egypt is offering loans that cover 100% of solar stations for individuals                        <\/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\/2024\/02\/07\/emirates-nbd-egypt-is-offering-loans-that-cover-100-of-solar-stations-for-individuals\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The loan period can extend up to 7 years, ranging from EGP 100k to EGP 1 mn, and allows customers to apply for a second loan after 12 months. NBD is among the first lenders in Egypt to extend individual loans for customers to install household solar panels.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not Egypt\u2019s first: <\/strong>The Commercial International Bank (CIB) also offers a <a target=\"_blank\" href=\"https:\/\/www.cibeg.com\/en\/personal\/loans\/solar\" style=\"\" rel=\"noopener\">100% covered personal solar loan<\/a> ranging from EGP 50k to EGP 1 mn. Qatar National Bank (QNB) Al Ahli also offers similar loans covering up to <a target=\"_blank\" href=\"https:\/\/www.qnbalahli.com\/sites\/qnb\/qnbegypt\/page\/en\/enthegreenloan.html\" style=\"\" rel=\"noopener\">80% of the product cost<\/a> and reaching up to EGP 400k. Cr\u00e9dit Agricole Egypt also finalized developing a <a target=\"_blank\" href=\"https:\/\/www.csregypt.com\/en\/credit-agricole-new-solar-loan-program-in-egypt-to-be-launched-in-q4-of-2023\/\" style=\"\" rel=\"noopener\">solar loan program<\/a> last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Green funding needs to be coupled with net-metering schemes to incentivize more residential solar uptake: <\/strong><a target=\"_blank\" href=\"https:\/\/www.forbes.com\/home-improvement\/solar\/net-metering\/\" style=\"\" rel=\"noopener\">Net metering<\/a> and feed-in tariffs allow residential and commercial consumers to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cea42b3a-a45a-46f4-b39b-cfaed947a5a9\" style=\"\" rel=\"noopener\">sell excess electricity<\/a> generated back to the national grid, allowing them to offset the cost of electricity bills and shortening the time it takes to break even. However, under the <a target=\"_blank\" href=\"https:\/\/www.albawabhnews.com\/4363040\" style=\"\" rel=\"noopener\">FY 2021-2022<\/a> net metering tariff structure, households and businesses can make only EGP 1.0288 per kWh and EGP 1.0858 per kWh respectively selling power back to the grid. Prior to COP27, Egypt\u2019s Electricity Regulation Authority <a target=\"_blank\" href=\"https:\/\/practiceguides.chambers.com\/practice-guides\/comparison\/728\/11295\/18183-18184-18185-18186-18187-18188\" style=\"\" rel=\"noopener\">amended some parameters<\/a> to make net-metering more attractive. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/emirates-nbd\/\">Emirates NBD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-finance\/\">green finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"82241 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=\"82241\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/02\/07\/82241\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82241\" class=\"content-area-description single-story post-82241 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\/enterprise.press\/wp-content\/uploads\/2023\/05\/infinity-enterprise1600px-scaled.jpg\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"82242\" 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=\"82242\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">MACRO PICTURE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/02\/07\/menas-renewable-energy-performance-will-surge-over-the-next-five-years-iea-says\/\">\r\n                            MENA\u2019s renewable energy performance will surge over the next five years, IEA says                        <\/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\/2024\/02\/07\/menas-renewable-energy-performance-will-surge-over-the-next-five-years-iea-says\/\" 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href=\"https:\/\/enterpriseam.com\/climate\/2024\/02\/07\/menas-renewable-energy-performance-will-surge-over-the-next-five-years-iea-says\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/467.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"82243\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2024\/02\/07\/menas-renewable-energy-performance-will-surge-over-the-next-five-years-iea-says\/467-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/467.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"467.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/467.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/467.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82242\" class=\"content-area-description single-story post-82242 post type-post status-publish format-standard has-post-thumbnail hentry category-macro-picture tag-enterpriseclimate tag-iea tag-macro-picture tag-mena tag-renewables 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\/2024\/2\/.f60352b5-0c53-40cf-86fa-659349996acf.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The world is predicted to fall short of its goal to triple renewables by 2030: <\/strong>Despite a predicted surge in global renewable energy capacity to 7.3 TW by 2028 \u2014 up from the current 510 GW \u2014 the anticipated growth trajectory will still fall short of the goal to triple global capacity by 2030, reaching only 2.5 times the current level,according to the most recent <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/965.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a> by the International Energy Agency (IEA).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What's driving the higher renewables projections globally? <\/strong>The global 2023 forecast has increased by 33% \u2014 or 728 GW \u2014from the IEA\u2019s December 2022 publication primarily due to policy changes and improved economics for large-scale wind and solar PV projects, as well as faster consumer adoption of distributed PV systems in response to higher electricity prices, the report concluded.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How will our region fare in the next 5 years? <\/strong>The MENA region is predicted to see accelerated action in renewable energy sources in the next 5 years with a 62 GW increase from 2023 to 2028. The projected growth rate is three times higher than the previous 5 year period, andthe leading countries in this growth include Saudi Arabia, the UAE, Morocco, Oman, Egypt, Israel, and Jordan, collectively representing over 90% of the region's expansion. Solar PV is set to make up 85% of the expected 62 GW increase in the region\u2019s renewable capacity by 2028. The Middle East is also anticipated to be one of the next biggest markets for solar thermal energy, which together with the EU will account for over 40% of the increase in solar thermal heat use.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oman\u2019s renewables forecast was revised downwards: <\/strong>Delays in large-scale renewable energy projects, including in the field of green hydrogen, have caused a decline in Oman\u2019s projected growth.However, the process can often take several years as countries need to qualify bidders, select winners, and sign PPAs after opening an auction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hydrogen\u2019s role in renewables growth is becoming prominent:<\/strong> Saudi Arabia was named among the world\u2019s major contributors alongside China and the US, which together are projected to contribute over 75% of global renewable capacity for hydrogen production by 2028. Anticipated global growth will reach 45 GW within the same time frame, about 1% of total renewable energy deployment. Certain markets, particularly those focused on hydrogen exports, demonstrate a more significant investment in solar and wind energy, with percentages ranging from 4% in Australia to over 30% in Oman. Countries with potential for hydrogen exports like Saudi Arabia, Australia, Oman, and the UAE will contribute over one-fifth of renewable capacity deployment driven by hydrogen by 2028.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Our region\u2019s competitive pricing is pushing expansion:<\/strong>Competitive pricing due to incentivized policies for solar PV and onshore wind projects is behind the accelerated growth in the MENA region, the report explains. The region mainly owes its renewable energy expansion to competitive auctions, which account for 35% of its growth. Nearly all countries in the region are looking to attract private investors through government tenders for utility-scale PV, onshore wind or concentrated solar power (CSP) projects. These tenders have resulted in some of the world's lowest bid prices for solar energy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s still a few factors holding us back:<\/strong>The delayed procurement of utility-scale capacity through competitive auctions, lack of cost-reflective end-user tariffs for distributed solar PV installations, and the need for enhanced system flexibility through storage are noted as hindrances to optimal growth. Implementing these three improvements could drive growth 70%. As a result, expansion through mechanisms other than competitive auctions \u2014 such as unsolicited bilateral contracts with utilities and corporate PPAs \u2014 has been increasing, the report found.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Wind isn\u2019t faring well:<\/strong> Aside from China, onshore wind expansion is facing hurdles in major markets like India and Australia. Forecasted growth took a hit in ASEAN, Africa, and the Middle East due to sluggish project advancement and unclear policies, according to the report.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/iea\/\">IEA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/macro-picture\/\">MACRO PICTURE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/mena\/\">MENA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"82244\" 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=\"82244\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/02\/07\/koreas-sk-on-sees-fewer-losses-in-4q-expects-a-net-income-this-year\/\">\r\n                            Korea\u2019s SK On sees fewer losses in 4Q, expects a net income this year                        <\/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\/2024\/02\/07\/koreas-sk-on-sees-fewer-losses-in-4q-expects-a-net-income-this-year\/\" 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\/2024\/02\/07\/koreas-sk-on-sees-fewer-losses-in-4q-expects-a-net-income-this-year\/')\">\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\/2024\/02\/07\/koreas-sk-on-sees-fewer-losses-in-4q-expects-a-net-income-this-year\/\">\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=Korea\u2019s SK On sees fewer losses in 4Q, expects a net income this year&url=https:\/\/enterpriseam.com\/climate\/2024\/02\/07\/koreas-sk-on-sees-fewer-losses-in-4q-expects-a-net-income-this-year\/\">\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\/2024\/02\/07\/koreas-sk-on-sees-fewer-losses-in-4q-expects-a-net-income-this-year\/&title=Korea\u2019s SK On sees fewer losses in 4Q, expects a net income this year\">\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=Korea%E2%80%99s+SK+On+sees+fewer+losses+in+4Q%2C+expects+a+net+income+this+year+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2024%2F02%2F07%2Fkoreas-sk-on-sees-fewer-losses-in-4q-expects-a-net-income-this-year%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\/2024\/02\/07\/koreas-sk-on-sees-fewer-losses-in-4q-expects-a-net-income-this-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/463.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"82245\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2024\/02\/07\/koreas-sk-on-sees-fewer-losses-in-4q-expects-a-net-income-this-year\/463-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/463.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"463.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/463.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/463.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82244\" class=\"content-area-description single-story post-82244 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-enterpriseclimate tag-evs tag-south-korea 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\/2024\/2\/.de7e5210-9155-4e0a-92c5-f53f5d80d2f4.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">BATTERIES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SK<\/strong><strong> On narrows losses in 4Q, expects to break even in 2H: <\/strong><a target=\"_blank\" href=\"http:\/\/eng.sk-on.com\/\" style=\"\" rel=\"noopener\">SK On<\/a>, the SNB Capital-backed battery unit of SK Innovation, reported a smaller operating loss in 4Q 2023 of KRW 18.6 bn (USD 14 mn) from KRW 86.1 bn in 3Q, and said it expects to reach a break-even point in 2H 2024, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/sk-innovation-expects-economic-stimulus-travel-demand-boost-refining-margins-2024-02-05\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. The company attributed the improvement to increased shipments of EV batteries to its major customers, such as Ford and Hyundai. SK On also expects slowed growth in the global EV market, echoing similar expectations by its rival LG Energy Solution. SK On also said it will continue to invest in its battery business, allocating more than 80% of its 2024 capital expenditure of about KRW 9 tn (USD 6.8 bn) to expand its production capacity abroad.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- SK On has regional support: <\/strong>Saudi Arabia\u2019s SNB Capital acquired an undisclosed stake <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/0ac451e6-e09c-4f7f-8908-1755936e5dc8\" style=\"\" rel=\"noopener\">worth USD 100 mn<\/a> in the Korean battery manufacturer in July. The funds were earmarked for the company\u2019s expansion plans and boosting its production capacity.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SOLAR-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tunisia opens first solar plant in Djerba island: <\/strong>Tunisia has inaugurated a 1 MW photovoltaic solar power plant in Djerba that will provide electricity to 500 homes, <a target=\"_blank\" href=\"https:\/\/www.tap.info.tn\/en\/Portal-Economy\/17094585-first-solar-power\" style=\"\" rel=\"noopener\">TAP<\/a> reports. The TND 3 mn project spans 1.5 hectares with 2k solar panels. The project is in alignment with Tunisia\u2019s goal to produce 35% of electricity through renewable energy by 2035 and lower the current 50% energy deficit, which will require 5 GW of energy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More projects in the pipeline: <\/strong>Tunisia is issuing tenders for larger projects with a total capacity of 1.7 GW, including two in Metbasta at 500 MW and 100 MW each. Two projects at 50 MW each are also in the final stages in Tozeur and Sidi Bouzid.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/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\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/south-korea\/\">South Korea<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"82246\" 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=\"82246\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/02\/07\/chinas-pv-industry-firms-turn-to-share-buybacks-amid-rising-competition\/\">\r\n                            China\u2019s PV industry firms turn to share buybacks amid rising competition                        <\/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\/2024\/02\/07\/chinas-pv-industry-firms-turn-to-share-buybacks-amid-rising-competition\/\" 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\/2024\/02\/07\/chinas-pv-industry-firms-turn-to-share-buybacks-amid-rising-competition\/')\">\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\/2024\/02\/07\/chinas-pv-industry-firms-turn-to-share-buybacks-amid-rising-competition\/\">\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=China\u2019s PV industry firms turn to share buybacks amid rising competition&url=https:\/\/enterpriseam.com\/climate\/2024\/02\/07\/chinas-pv-industry-firms-turn-to-share-buybacks-amid-rising-competition\/\">\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\/2024\/02\/07\/chinas-pv-industry-firms-turn-to-share-buybacks-amid-rising-competition\/&title=China\u2019s PV industry firms turn to share buybacks amid rising competition\">\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=China%E2%80%99s+PV+industry+firms+turn+to+share+buybacks+amid+rising+competition+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2024%2F02%2F07%2Fchinas-pv-industry-firms-turn-to-share-buybacks-amid-rising-competition%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\/2024\/02\/07\/chinas-pv-industry-firms-turn-to-share-buybacks-amid-rising-competition\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/543.JPG?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"82247\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2024\/02\/07\/chinas-pv-industry-firms-turn-to-share-buybacks-amid-rising-competition\/543-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/543.JPG?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"543.JPG\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/543.JPG?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/543.JPG?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82246\" class=\"content-area-description single-story post-82246 post type-post status-publish format-standard has-post-thumbnail hentry category-around-the-world tag-around-the-world tag-china tag-enterpriseclimate tag-japan tag-solar tag-toyota 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\/2024\/2\/.1c21d821-f5d1-401a-9ad9-631e8c9eb23b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some of China's solar manufacturers are resorting to share buybacks to boost their low <\/strong><strong>market valuations as rising competition drives down equipment prices<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-02-06\/china-s-struggling-solar-energy-firms-join-share-buybacks-push\" style=\"\" rel=\"noopener\">Bloomberg<\/a> writes. <a target=\"_blank\" href=\"https:\/\/www.longi.com\/us\/\" style=\"\" rel=\"noopener\">Longi Green Energy<\/a>, the world's largest solar equipment maker, has announced a 600 million yuan (USD 83 mn) repurchase plan of its Shanghai-listed shares, following similar moves by <a target=\"_blank\" href=\"https:\/\/en.tongwei.com.cn\/\" style=\"\" rel=\"noopener\">Tongwei<\/a> and JinkoSolar. Analysts doubt the buybacks will be effective and expect the solar sector's profitability to drop further. The buybacks also come as Chinese regulators urge listed companies to increase repurchases to stabilize the stock market, which closed at a five-year low last week.<\/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>Toyota + Chiyoda partner on a large-scale electrolysis system: <\/strong>Japan\u2019s Toyota Motor Corporation and engineering firm Chiyoda Corporation are partnering to introduce a 5 MW electrolysis system for hydrogen production \u2014 which will later be expanded to 10 GW \u2014 at the automaker\u2019s Honsha plant starting FY 2025. Construction of the electrolyzer factory is expected to begin in 2026 <a target=\"_blank\" href=\"https:\/\/www.hydrogeninsight.com\/electrolysers\/toyota-to-mass-produce-hydrogen-electrolysers-in-partnership-with-chiyoda\/2-1-1593648\" style=\"\" rel=\"noopener\">at the earliest<\/a>. (<a target=\"_blank\" href=\"https:\/\/global.toyota\/en\/newsroom\/corporate\/40388622.html\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/around-the-world\/\">AROUND THE WORLD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/japan\/\">Japan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/solar\/\">SOLAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/toyota\/\">Toyota<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"82248\" 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=\"82248\">\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 IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/02\/07\/the-world-possibly-passed-1-7c-warming-already-according-to-sea-sponges\/\">\r\n                            The world possibly passed 1.7\u00b0C warming already according to sea sponges                        <\/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\/2024\/02\/07\/the-world-possibly-passed-1-7c-warming-already-according-to-sea-sponges\/\" 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\/2024\/02\/07\/the-world-possibly-passed-1-7c-warming-already-according-to-sea-sponges\/')\">\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\/2024\/02\/07\/the-world-possibly-passed-1-7c-warming-already-according-to-sea-sponges\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The world possibly passed 1.7\u00b0C warming already according to sea sponges&url=https:\/\/enterpriseam.com\/climate\/2024\/02\/07\/the-world-possibly-passed-1-7c-warming-already-according-to-sea-sponges\/\">\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\/2024\/02\/07\/the-world-possibly-passed-1-7c-warming-already-according-to-sea-sponges\/&title=The world possibly passed 1.7\u00b0C warming already according to sea sponges\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+world+possibly+passed+1.7%C2%B0C+warming+already+according+to+sea+sponges+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2024%2F02%2F07%2Fthe-world-possibly-passed-1-7c-warming-already-according-to-sea-sponges%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\/2024\/02\/07\/the-world-possibly-passed-1-7c-warming-already-according-to-sea-sponges\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/461.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"82249\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2024\/02\/07\/the-world-possibly-passed-1-7c-warming-already-according-to-sea-sponges\/461-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/461.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"461.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/461.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/461.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82248\" class=\"content-area-description single-story post-82248 post type-post status-publish format-standard has-post-thumbnail hentry category-climate-in-the-news tag-climate-change tag-climate-in-the-news 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\/2024\/2\/.59ad01ed-65ea-4a2c-bdd9-99e53ae143bc.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><\/strong><strong>The s<\/strong><strong>ea <\/strong><strong>sponges have spoken: <\/strong>A new <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/442.pdf\" style=\"\" rel=\"noopener\">study (pdf)<\/a> by the University of Western Australia on sponges in the Caribbean Sea suggests that the world may have warmed by 1.7\u00b0C since the start of the industrial revolution, <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/environment\/2024\/feb\/06\/ancient-sea-sponges-at-centre-of-controversial-claim-world-has-already-warmed-by-17c\" style=\"\" rel=\"noopener\">The Guardian<\/a> writes. This is half a degree higher than the estimates used by the UN\u2019s climate panel.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The methodology: <\/strong>The study used the <a target=\"_blank\" href=\"https:\/\/www.ncei.noaa.gov\/products\/paleoclimatology\/coral-sclerosponge\" style=\"\" rel=\"noopener\">sclerosponge<\/a>, a long-lived species that records sea temperature changes in its calcium carbonate skeleton, to reconstruct 300 years of ocean history. The researchers found that human-induced warming began as early as the 1860s. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The findings are drawing criticism:<\/strong> The findings of the study faced skepticism from several scientists who argue tests were too localized and small in scale. The NASA Goddard Institute for Space Studies director Gavin Schmidt expressed doubt that a single record could reliably determine global warming since the pre-industrial era.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- The world already broke warming records: <\/strong>Global warming was set to reach <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/c264753d-668d-4e38-9b22-1d444773be56\" style=\"\" rel=\"noopener\">1.4\u00b0C warming<\/a> above pre-industrial levels in 2023, making it the hottest year on record. Scientists also predict that 2024 will likely be the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/4edcf315-3624-49ef-80a7-a64f825b1e4b\" style=\"\" rel=\"noopener\">hottest year in recorded history<\/a>, with temperatures predicted to rise to 1.6\u00b0C.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-in-the-news\/\">CLIMATE IN THE NEWS<\/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=\"82250\" 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=\"82250\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/02\/07\/the-climate-crisis-may-have-ushered-in-a-new-category-of-hurricane\/\">\r\n                            The climate crisis may have ushered in a new category of hurricane                        <\/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\/2024\/02\/07\/the-climate-crisis-may-have-ushered-in-a-new-category-of-hurricane\/\" 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\/2024\/02\/07\/the-climate-crisis-may-have-ushered-in-a-new-category-of-hurricane\/')\">\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\/2024\/02\/07\/the-climate-crisis-may-have-ushered-in-a-new-category-of-hurricane\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The climate crisis may have ushered in a new category of hurricane&url=https:\/\/enterpriseam.com\/climate\/2024\/02\/07\/the-climate-crisis-may-have-ushered-in-a-new-category-of-hurricane\/\">\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\/2024\/02\/07\/the-climate-crisis-may-have-ushered-in-a-new-category-of-hurricane\/&title=The climate crisis may have ushered in a new category of hurricane\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+climate+crisis+may+have+ushered+in+a+new+category+of+hurricane+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2024%2F02%2F07%2Fthe-climate-crisis-may-have-ushered-in-a-new-category-of-hurricane%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\/2024\/02\/07\/the-climate-crisis-may-have-ushered-in-a-new-category-of-hurricane\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/453.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"82251\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2024\/02\/07\/the-climate-crisis-may-have-ushered-in-a-new-category-of-hurricane\/453-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/453.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"453.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/453.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/453.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82250\" class=\"content-area-description single-story post-82250 post type-post status-publish format-standard has-post-thumbnail hentry category-on-your-way-out tag-climate-change tag-enterpriseclimate tag-on-your-way-out 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\/2024\/2\/.d6595666-d878-47ff-a490-cdc8a762a63b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hurricanes have intensified due to climate change leading scientists to propose adding a <\/strong><strong>new \u201ccategory 6\u201d classification on the Saffir-Simpson hurricane scale<\/strong>, according to a new <a target=\"_blank\" href=\"https:\/\/www.pnas.org\/doi\/full\/10.1073\/pnas.2308901121\" style=\"\" rel=\"noopener\">study<\/a> by the National Academy of Sciences. Storms with sustained winds exceeding 192 mph would fit this category including The Philippines\u2019 <a target=\"_blank\" href=\"https:\/\/www.climate.gov\/news-features\/understanding-climate\/2013-state-climate-record-breaking-super-typhoon-haiyan\" style=\"\" rel=\"noopener\">Typhoon Haiyan<\/a>, which killed over 6k people, and <a target=\"_blank\" href=\"https:\/\/www.nhc.noaa.gov\/data\/tcr\/EP202015_Patricia.pdf\" style=\"\" rel=\"noopener\">Hurricane Patricia<\/a>, which reached a top speed of 215 mph and hit parts of Central America, Mexico, and the US.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rising temperatures in the ocean and atmosphere are to blame: <\/strong>While the total number of hurricanes remains constant, their intensity has surged over the past four decades, fueled by a warmer, moisture-laden atmosphere and a superheated ocean, <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/2024\/feb\/05\/hurricanes-becoming-so-strong-that-new-category-needed-study-says\" style=\"\" rel=\"noopener\">The Guardian<\/a> writes. The heated oceans provide extra energy, increasing the size of hurricanes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Breaking down the current scale: <\/strong>The <a target=\"_blank\" href=\"https:\/\/www.nhc.noaa.gov\/aboutsshws.php\" style=\"\" rel=\"noopener\">Saffir-Simpson hurricane scale<\/a> classifies a category 1 hurricane as between 74 mph to 95 mph with dangerous winds causing some damage. Category 2 hurricanes reach wind speeds of 96-110 mph, with extensive damage occurring. Category 3 to 5 are known as major hurricanes, causing extensive property damage at speeds from 111 mph to 157 or higher. In category 5, homes are destroyed, trees and utility poles fall, and power outages can occur for extended periods of time. 2005\u2019s <a target=\"_blank\" href=\"https:\/\/www.weather.gov\/mob\/katrina\" style=\"\" rel=\"noopener\">Hurricane Katrina<\/a> was a category 5 hurricane that caused extensive destruction in New Orleans. It holds the record as the costliest hurricane in US history, with 1.8k fatalities and around USD 108 bn in damages.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/on-your-way-out\/\">ON YOUR WAY OUT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"82252\" 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\/2024\/02\/07\/82252\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82252\" class=\"content-area-description single-story post-82252 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: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>19-21 February (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egypes.com\/exhibition\/visitor-registration\/?actioncode=DIG2&utm_source=search&utm_medium=cpc&utm_campaign=visprom&utm_term=egyps&gad_source=1&gclid=CjwKCAiAtt2tBhBDEiwALZuhAN2zAhQXEPpPBPkOGQKqu_yqP9kd5-STi_DShwshsbtwI-_gOyW55RoCLYQQAvD_BwE\" style=\"\">Egypt Energy Show (EGYPES)<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt.<\/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>(<\/span><span>xxNA<\/span><span>) 26-28 February (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/conferences.squ.edu.om\/apcc\/home\" style=\"\">Oman Conference for Environmental Sustainability<\/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 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>16-18 April (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.middleeast-energy.com\/en\/home.html\" style=\"\">Middle East Energy<\/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>22-24 <\/span><span>April <\/span><span>(Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.omanpetroleumandenergyshow.com\/\" style=\"\">Oman Petroleum and Energy Show<\/a><\/span><span style=\"font-weight:400;\">, Mustac, Oman.<\/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>28-29 April (Sunday-Monday) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.weforum.org\/press\/2024\/01\/annual-meeting-2024-rebuilding-trust-amid-uncertainty\/\" style=\"\">Global Cooperation, Growth and Energy for Development,<\/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>28-2 May (Sunday-Thursday) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.omansustainabilityweek.com\/\" style=\"\">Oman Sustainability Week<\/a><\/span><span style=\"font-weight:400;\">, Oman International Exhibition Center, Muscat.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30 April-2 May (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 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 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>7-9 May (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.globalwasteforum.com\/en\" style=\"\">Global Waste Forum<\/a><\/span><span>, <\/span><span style=\"font-weight:400;\">Algiers, Algeria. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>14 to 16 May (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.theairportshow.com\/en-gb\/visit.html\" style=\"\">Airport Show<\/a><\/span><span>, Dubai, UAE. <\/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>20-22 May (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.evinnovationsummit.com\/\" style=\"\">Electric Vehicle Innovation 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>28-30 May (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.moiat.gov.ae\/en\/media-center\/news\/2024\/01\/23\/miite-forum-dates?\" style=\"\">Make it in the Emirates Forum<\/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 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>15-17 October (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/evautoshowonline.com\/\" style=\"\">EV Auto Show<\/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\">NOVEMBER 2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11-14 November (Monday-Thursday) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.adipec.com\/\" style=\"\">Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC)<\/a><\/span><span>, Abu Dhabi, 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 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\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    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