{"id":88178,"date":"2024-11-25T00:00:00","date_gmt":"2024-11-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=88178"},"modified":"2025-12-15T11:52:05","modified_gmt":"2025-12-15T11:52:05","slug":"cop29-delivers-final-text-tripling-annual-climate-finance-target","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/cop29-delivers-final-text-tripling-annual-climate-finance-target\/","title":{"rendered":"COP29 delivers final text tripling annual climate finance target"},"content":{"rendered":"<section id=\"88180\" 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=\"88180\">\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\/11\/25\/today-cop29-fizzles-out-with-a-check-in-the-mail-ifc-kicks-in-usd-mns-in-green-financing-to-egypt\/\">\r\n                            TODAY: COP29 fizzles out with a \u201ccheck in the mail\u201d + IFC kicks in USD mns in green financing to Egypt                        <\/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\/11\/25\/today-cop29-fizzles-out-with-a-check-in-the-mail-ifc-kicks-in-usd-mns-in-green-financing-to-egypt\/\" 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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First, more troubling news from Europe\u2019s EV players\u2026<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG CLIMATE STORY OUTSIDE THE REGION- <\/strong><strong>Northvolt <\/strong><strong>files Chapter 11: <\/strong>Swedish battery cell manufacturer Northvolt has <a target=\"_blank\" href=\"https:\/\/northvolt.com\/articles\/chapter11\/\" style=\"\" rel=\"noopener\">filed for Chapter 11 bankruptcy protection<\/a> in the US. The company cited a dire liquidity situation after failing to secure rescue funding, leaving it with enough cash to support operations for only a week. Northvolt secured USD 100 mn in new financing from its customer the Volkswagen-owned Swedish truck maker Scania to support the bankruptcy process and has USD 5.84 bn of debt on the books. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>The filing will give the company access to USD 245 mn funds worth of new financing available for companies electing to restructuring through Chapter 11. Northvolt plans to continue operations while undergoing the restructuring process, which is set to conclude by 1Q 2025. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A signal of the times:<\/strong> Northvolt's bankruptcy filing underscores broader difficulties in the EV sector, where demand has not met projections. Production problems, competition with China, the loss of a major customer, and a lack of funding have been cited as major factors that impacted the company. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story grabbed a lot of ink in the int\u2019l press:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/northvolt-files-chapter-11-bankruptcy-us-2024-11-21\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-21\/northvolt-files-for-bankruptcy-in-blow-to-europe-s-battery-hopes\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/09938004-21b9-4750-8fa2-9ed15c566d4e\" style=\"\" rel=\"noopener\">The Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/swedish-battery-maker-northvolt-files-for-chapter-11-protection-495e54fc\" style=\"\" rel=\"noopener\">The Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/11\/21\/business\/northvolt-battery-bankruptcy.html\" style=\"\" rel=\"noopener\">The New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/environment\/2024\/nov\/22\/northvolt-files-bankruptcy-protection-europe-electric-vehicles-battery\" style=\"\" rel=\"noopener\">The Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/11\/22\/northvolt-files-for-bankruptcy-in-setback-to-europes-ev-ambitions.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.euronews.com\/business\/2024\/11\/22\/northvolt-files-for-bankruptcy-in-major-blow-to-european-ev-sector\" 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<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><\/strong><strong><a id=\"wwtt1\"><\/a>#1- Infinity Power, UAE\u2019s Masdar, and Hassan Allam Utilities will soon launch a tender for <\/strong><strong>a contractor to carry out their combined 1.2 GW solar projects<\/strong> planned for the Dahkla Oasis and Benban plant in Upper Egypt, Infinity General Manager Hesham El Gamal told <a target=\"_blank\" href=\"https:\/\/hapijournal.com\/2024\/11\/24\/%d8%aa%d8%ad%d8%a7%d9%84%d9%81-%d8%a5%d9%86%d9%81%d9%8a%d9%86%d9%8a%d8%aa%d9%8a-%d9%8a%d8%b3%d8%aa%d8%b9%d8%af-%d9%84%d8%b7%d8%b1%d8%ad-%d9%85%d9%86%d8%a7%d9%82%d8%b5%d8%a9-%d9%85%d8%ad%d8%b7\/\" style=\"\" rel=\"noopener\">Hapi Journal<\/a>. The consortium plans to settle on a contractor soon ahead of breaking ground on the project next month, with the project expected to start feeding the national grid within 12-18 months, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We also now have a price tag for the project<\/strong>, with the project expected to cost upwards of USD 1 bn to carry out, El Gamal said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN OTHER EGYPT UPDATES- Egyptian Bio-Ethylene Production Company is on the hunt for funds<\/strong><strong>: <\/strong>A consortium of Egyptian banks is reportedly reviewing a possible loan of USD 100 mn to finance the Egyptian Bio-Ethylene Production Company\u2019s planned Damietta bioethanol plant, <a target=\"_blank\" href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=23112024&id=feae52c9-1a05-44a6-914a-bffb5acd00f9\" style=\"\" rel=\"noopener\">Al Shorouk<\/a> reported on Saturday, citing sources it says have knowledge of the matter. The production facility is set to have a capacity of 100k tons. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s kicking in financing? <\/strong>The group of banks \u2014 including the National Bank of Egypt, Banque Misr, Cairo Bank, Kuwait National Bank, Commercial International Bank, and Qatar National Bank \u2014 are awaiting approval from the Central Bank of Egypt (CBE) to provide the funds in foreign currency. Given foreign currency shortages, the sources said Gulf banks could be the next alternative if the CBE does not greenlight the loan for Egyptian banks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><\/strong><strong><a id=\"wwtt2\"><\/a>#2- UAE\u2019s Masdar and Albania\u2019s state-owned energy company Kesh plan to develop 3 <\/strong><strong>GW worth <\/strong><strong>of clean energy projects<\/strong>, starting with a 100 MW solar plant set to launch soon, state news agency <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b6bohuu-uae-albania-convene-inaugural-joint-economic\" style=\"\" rel=\"noopener\">Wam<\/a> reports. Masdar had <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/98c19152-64b5-4312-9a95-7c838ea79ae8\/masdar-inks-agreement-for-1-gw-wind-farm-in-uzbekistan\" style=\"\" rel=\"noopener\">inked a joint venture term sheet<\/a>  with Kesh to develop GW-scale renewable energy projects, focusing on solar, wind, and hybrid technologies with potential battery storage earlier this month during COP29 in Baku. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO FROM THE UAE- Emirati<\/strong><strong>-backed Alterra fund is struggling to deploy capital amid a lack of viable projects in <\/strong><strong>the energy transition space, the <\/strong>fund\u2019s CEO Majid Al Suwaidi tells <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-21\/uae-s-30-billion-energy-transition-fund-struggles-to-spend-cash?srnd=homepage-europe\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. Alterra has so far committed USD 6.5 bn to seven strategies managed by BlackRock, Brookfield Asset Management, and TPG, though actual funds spent are significantly less, its CEO said, without disclosing a specific figure.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background<\/strong>: The USD 30 bn vehicle was unveiled last year at COP28 to mobilize USD 250 bn globally by 2030 to finance the climate transition. It recently announced plans to direct an additional USD 200 bn to climate investments over the next six years, and said that it will increase its focus on co-investments and direct investments, capping returns in its Transformation unit to attract external investors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt3\"><\/a><\/strong><strong>#3- <\/strong><strong>Tunisia plans to allocate TND 7.1 bn (USD 2.2 bn) to enhance its power sector in <\/strong><strong>2025<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.alchourouk.com\/article\/%D8%A8%D8%A5%D9%85%D9%83%D8%A7%D9%86%D9%8A%D8%A7%D8%AA-%D8%B0%D8%A7%D8%AA%D9%8A%D8%A9-%D8%AA%D9%88%D9%86%D8%B3-%D8%AA%D8%A4%D9%85%D9%86-86-%D9%85%D9%86-%D8%A5%D9%86%D8%AA%D8%A7%D8%AC-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1\" style=\"\" rel=\"noopener\">Alchourouk<\/a> reported last week, citing a draft finance law set to be released next year. The country aims to increase its reliance on electricity from renewable sources from 4.3% last year to 35% within the next six years, reducing electricity imports from Algeria and Libya. The government expects solar and wind energy projects to produce nearly 4.85 GW of green electricity by 2030<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- EU + China make headway towards an agreement over tariffs on Chinese EVs <\/strong><strong>entering the bloc,<\/strong> <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/eu-china-close-agreement-over-ev-import-tariffs-leading-mep-says-2024-11-22\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported on Friday, citing remarks by EU Parliament trade committee chair Bernd Lange on German broadcast show n-tv. China could commit to supplying EVs to the EU at a minimum price set by the bloc, thus eliminating \u201cthe distortion of competition through unfair subsidies,\u201d Lange said. The European Commission did not formally comment on the subject when contacted by Reuters. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> The EU increased tariffs on Chinese EVs by up to 45 % <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/b843e3c4-0ae2-4edf-96c8-a80fd9d1e27f\/today:-uae%25e2%2580%2599s-taqa-drums-up-green-financing-%2B-oman%25e2%2580%2599s-ffo-details-initial-investments-in-clean-energy\" style=\"\" rel=\"noopener\">in October<\/a> after a multi-month anti-subsidy probe. The duties, designed to counter what the EU considers unfair government subsidies provided to Chinese manufacturers, are set to last for five years and could cost Chinese carmakers who wish to stay in the EU market multi bns. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- <\/strong><strong>HSBC backtracks on carbon credits plan: <\/strong>HSBC is abandoning a plan to establish a unit dedicated to carbon credits trading and funding voluntary market offset projects, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-20\/hsbc-said-to-shelve-plans-for-trading-financing-carbon-credits\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported Thursday, citing anonymous sources familiar with the plans. The move comes as carbon market momentum slows down on the back of greenwashing concerns. After a peak in 2022, the voluntary carbon market shrank by around USD 1 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Confidence in the instrument has been waning:<\/strong> Carbon credits <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/dc54e6ce-3ab0-45eb-8127-977c827addd4\/today:-uae-to-tap-into-ai%25e2%2580%2599s-potential-in-energy-transition-%2B-masdar,-adnoc-and-microsoft-partner-on-ai-and-low-carbon-solutions-%2B-saudi-awards-11-mining-licenses\" style=\"\" rel=\"noopener\">can be faked<\/a> through various methods, such as overstating emission reductions, creating non-additional projects, and double counting, practices that have <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f61d1166-0ae0-4af8-b967-30b0a20c7c70\" style=\"\" rel=\"noopener\">driven demand for the offset credits down<\/a>, a Bloomberg <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/features\/2024-10-24\/carbon-offsets-see-falling-demand-but-cop29-may-open-new-market\" style=\"\" rel=\"noopener\">analysis<\/a> last month found. Companies that initially led the mantra of carbon offsets like Delta Airlines, Google, and EasyJet, are now shifting focus to the more expensive strategy of decarbonization to bring down their emissions. One market expert points to the lack of \u201caccountability for false statements in the voluntary carbon markets,\u201d saying that addressing this issue and enforcing legal consequences will be critical.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But some are working to revive confidence in the market<\/strong><strong>:<\/strong> Regulatory bodies have been working to standardize carbon credits to revive confidence in the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/77f5a283-1888-41d5-accc-d36505c39e92\/today:-fertiglobe%25e2%2580%2599s-first-earning-report-after-adnoc%25e2%2580%2599s-acquisition-%2B-carbon-market-rules-make-it-on-cop%25e2%2580%2599s-first-day\" style=\"\" rel=\"noopener\">controversial market<\/a>. For example, the Integrity Council for the Voluntary Carbon Market set up stricter criteria for what qualifies for its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/b8b119b0-efe7-44e2-9350-ff302a1fe37a\/today:-lucid-gets-a-lifeline-%257c-ebrd-funds-aeolus,-scatec-solar-farms\" style=\"\" rel=\"noopener\">Core Carbon Principles<\/a> label. Nations at COP29 also came together to set up rules for a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/77f5a283-1888-41d5-accc-d36505c39e92\/today:-fertiglobe%25e2%2580%2599s-first-earning-report-after-adnoc%25e2%2580%2599s-acquisition-%2B%253cmark%253e-carbon%253c%2Fmark%253e%253cmark%253e-market%253c%2Fmark%253e-rules-make-it-on-cop%25e2%2580%2599s-first-day\" style=\"\" rel=\"noopener\">global carbon market<\/a> after many years of deadlock that would enable countries to meet emissions targets by trading credits representing one ton of CO2 reduced or removed, thus fostering faster decarbonization through international cooperation.<\/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\">THE SCORECARD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Morocco tops MENA again in CCPI 2025: <\/strong><a target=\"_blank\" href=\"https:\/\/ccpi.org\/country\/mar\/\" style=\"\" rel=\"noopener\">Morocco<\/a> took the regional lead again in the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/2198.pdf\" style=\"\" rel=\"noopener\">Climate Change Performance Index (CCPI) (pdf)<\/a> as it settled into the eighth spot globally, one rank up from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/aa281379-0de7-4f6c-96ae-3acbf9f7ffeb\/today:-egypt-approves-more-renewables-projects-%2B-ega-snaps-up-stakes-in-spectro-alloys\" style=\"\" rel=\"noopener\">last year<\/a>, according to the <a target=\"_blank\" href=\"https:\/\/ccpi.org\/countries\/\" style=\"\" rel=\"noopener\">detailed country results<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What is CCPI? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/aa281379-0de7-4f6c-96ae-3acbf9f7ffeb\/today:-egypt-approves-more-renewables-projects-%2B-ega-snaps-up-stakes-in-spectro-alloys\" style=\"\" rel=\"noopener\">The index<\/a> ranks 63 countries plus the EU based on their efforts to combat climate change. The five-grade index \u2014 with \u201cvery low\u201d and \u201cvery high\u201d at both ends of its grading system \u2014 assesses countries\u2019 efforts along four main elements: emissions, energy use, climate policies, and renewables development. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown: <\/strong>Morocco scored \u201chigh\u201d on both energy use and greenhouse emissions fronts, but its climate policy and renewable energy adoption indicators saw \u201cmedium\u201d and \u201clow\u201d ratings, respectively. The report outlines high initial costs for renewable energy and the need for external funding as barriers to increasing renewables uptake. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How did the rest of MENA fare? <\/strong><a target=\"_blank\" href=\"https:\/\/ccpi.org\/country\/egy\/\" style=\"\" rel=\"noopener\">Egypt<\/a> \u2014 moving up two spots to 20th \u2014 was next in the region, with an overall \u201cmedium\u201d rating, scoring \u201chigh\u201d for GHG emissions and energy use but \u201cmedium\u201d for climate policy and \u201cvery low\u201d for renewable energy. The <a target=\"_blank\" href=\"https:\/\/ccpi.org\/country\/are\/\" style=\"\" rel=\"noopener\">UAE<\/a>, <a target=\"_blank\" href=\"https:\/\/ccpi.org\/country\/sau\/\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a>, and <a target=\"_blank\" href=\"https:\/\/ccpi.org\/country\/irn\/\" style=\"\" rel=\"noopener\">Iran<\/a> were ranked 65th, 66th, and 67th, respectively, all with an overall \u201cvery low\u201d rating. The index highlights what it perceives as weak climate policy activity in the UAE and Saudi Arabia plans on expanding oil and gas production as major issues. Some MENA countries were not included in the index. <\/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\">***<br \/><strong>YOU\u2019RE READING EnterpriseAM Climate, the essential MENA publication for senior <\/strong><strong>execs who care about the world\u2019s most important industry. <\/strong>We\u2019re out Monday through Thursday by 9am in Cairo and Riyadh and 11am in the UAE.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM Climate is available without charge <\/strong>thanks to the generous support of our friends at HSBC and Infinity Power.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of Enterprise Climate.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to send us a story idea<\/strong>, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on <a target=\"_blank\" href=\"mailto:climate@enterprisemea.com\" style=\"\" rel=\"noopener\">climate@enterprisemea.com<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DID YOU KNOW <\/strong>that we also cover <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\" style=\"\" rel=\"noopener\">Egypt<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">the UAE<\/a>, and the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" style=\"\" rel=\"noopener\">MENA<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" style=\"\" rel=\"noopener\">logistics industry<\/a> ?<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;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><strong>Qatar will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/wesc-conference.qu.edu.qa\/\" style=\"\" rel=\"noopener\">World Energy Storage Conference<\/a><\/strong><strong> from Tuesday, 3 December to <\/strong><strong>Thursday, 5 December <\/strong>in Doha. The event will gather scientists, researchers, engineers, policymakers, and industry experts to discuss advancements and challenges in energy storage technology. The detailed agenda is yet to be announced.<\/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>Saudi Arabia will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.unccd.int\/cop16\/programme\" style=\"\" rel=\"noopener\">Conference of the Parties (COP16) to the United Nations<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.unccd.int\/cop16\/programme\" style=\"\" rel=\"noopener\">Convention to Combat Desertification<\/a><\/strong><strong> from Monday, 2 December to Friday, 13 December <\/strong>in Riyadh. The summit will convene leaders and officials from 196 member-states and territories to advance actions and hold ministerial dialogues on resilience and finance, focusing on policies, tech and innovative funding mechanisms.<\/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:\/\/www.worldfutureenergysummit.com\/\" style=\"\" rel=\"noopener\">World Energy Summit<\/a><\/strong><strong> from Tuesday, 14 January to Thursday, 16 <\/strong><strong>January<\/strong> in Abu Dhabi. The summit will host over 350 speakers including energy industry leaders and policymakers with discussions ranging from eco-waste to sustainable cities. An exhibition will also be held for showcasing green products.<\/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:\/\/www.futuremineralsforum.com\/\" style=\"\" rel=\"noopener\">Future Minerals Forum<\/a><\/strong><strong> from Tuesday, 14 January to Thursday, <\/strong><strong>16 January<\/strong> in Riyadh. The forum will gather stakeholders from over 170 countries to discuss mineral technology and exploration. Speakers will include senior government officials and CEOs from renowned mining companies Vale, Rio Tinto, and Manara.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><strong>Bahrain will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/sustainmideast.com\/\" style=\"\" rel=\"noopener\">Sustainability Forum Middle East<\/a><\/strong><strong> from Tuesday, 28 January to <\/strong><strong>Wednesday, 29 January<\/strong> in Manama. Climate experts and decision-makers will convene to discuss a number of issues ranging from decarbonization to supporting SMEs on their path to net zero. Speakers will include GCC government officials and industry leaders from the banking and industrial sectors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Check out our full calendar on the web<\/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\/alterra\/\">Alterra<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/carbon-markets\/\">carbon markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/maaden\/\">Maaden<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/morocco\/\">Morocco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/tunisia\/\">Tunisia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"88182\" 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\" 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<\/div>\n<\/div>\n<\/section>\n<section id=\"88183\" 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=\"88183\">\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\">COP Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/11\/25\/cop29-delivers-final-text-tripling-annual-climate-finance-target-after-running-into-overtime\/\">\r\n                            COP29 delivers final text tripling annual climate finance target after running into overtime                        <\/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\/11\/25\/cop29-delivers-final-text-tripling-annual-climate-finance-target-after-running-into-overtime\/\" 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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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2308.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"88184\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2024\/11\/25\/cop29-delivers-final-text-tripling-annual-climate-finance-target-after-running-into-overtime\/2308-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2308.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2308.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2308.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2308.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-88183\" class=\"content-area-description single-story post-88183 post type-post status-publish format-standard has-post-thumbnail hentry category-cop-watch tag-cop-watch tag-cop29 tag-enterpriseclimate tag-green-finance tag-loss-and-damage 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\/11\/.cddfde05-25bc-4fc2-8185-203e58dafa38.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>COP29 fizzles out with a \u201ccheck in the mail\u201d: <\/strong>After going over time for two days, COP29 wrapped with a new collective quantified goal (NCQG) agreement that urges developed countries to \u201ctake the lead\u201d on raising at least USD 300 bn per year by 2035 for developing countries, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/2188.pdf\" style=\"\" rel=\"noopener\">final text (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The agreement is a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/cop29.az\/en\/media-hub\/news\/breakthrough-in-baku-delivers-13tn-baku-finance-goal\" style=\"\" rel=\"noopener\">USD 50 bn increase<\/a><\/strong><strong> from an earlier text draft and triples the previous climate finance target of USD 100 bn goal. <\/strong>The text also made a mention of the need for collaboration to scale up financing to a total of USD 1.3 tn from both private and public sources. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Key takeaways from the final text: <\/strong><\/p>\n<ul>\n<li>The costs needs based on developing countries nationally determined contributions are estimated to be between USD 5.1 and 6.8 tn up to 2030 or between USD 455\u2013584 bn annually and adaptation finance needs fall between USD 215\u2013387 bn annually up to 2030;<\/li>\n<li>Calls on an increase of financing to developing countries for climate action from all public and private sources to at least USD 1.3 tn per year by 2035;<\/li>\n<li>Developing countries are \u2018encouraged\u2019 to make contributions on a \u201cvoluntary\u201d basis;<\/li>\n<li>Launching the \u2018Baku to Belem Roadmap to 1.3T\u2019 to scale up climate finance from public and private sources to USD 1.3 tn by 2035; <\/li>\n<li>Increasing funding through different multilateral financing entities to at least triple annual outflows from funds including the Adaptation Fund, the Least Developed Countries Fund, and the Special Climate Change Fund;<\/li>\n<li>Establishing a support program for National Adaptation Plans (NAPs) and launching the Baku Adaptation Road Map to accelerate adaptation efforts and translate plans into tangible outcomes for least developed countries (LDCs) and small island developing states;<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Loss and Damage Fund will not be included in the NCQG: <\/strong>Despite lobbying by developing nations and climate activists to include the fund in the new finance pledge, the final agreement failed to secure the financing future of the fund. The final text, however, acknowledged that the fund needs financing in the forms of grants and public funds. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/2d13e351-e275-492e-bbbd-29fc2adc3c10\" style=\"\" rel=\"noopener\">Loss and Damage Fund<\/a> was fully operationalized during COP29 and is ready to accept contributions and will start financing projects by 2025. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>While some are hopeful\u2026: <\/strong> \"This new finance goal is an ins. policy for humanity, amid worsening climate impacts hitting every country ... This [agreement] will keep the clean energy boom growing and protect bns of lives,\" UN climate chief Simon Stiell <a target=\"_blank\" href=\"https:\/\/unfccc.int\/news\/cop29-un-climate-conference-agrees-to-triple-finance-to-developing-countries-protecting-lives-and\" style=\"\" rel=\"noopener\">said<\/a>. \"But like any ins. policy \u2013 it only works \u2013 if the premiums are paid in full, and on time.\" he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u2026 Not everyone\u2019s on board:<\/strong> \"This, in our opinion, will not address the enormity of the challenge we all face. Therefore, we oppose the adoption of this document.\" Indian delegation representative Chandni Raina <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sustainability\/sustainable-finance-reporting\/wealthy-countries-back-raising-cop29-climate-deal-300-billion-sources-say-2024-11-23\/\" style=\"\" rel=\"noopener\">said<\/a>. \u201cRich countries have promised to \u2018mobilize\u2019 some funds in the future, rather than provide them now. The check is in the mail,\u201d Power Shift Africa director Mohamed Adow told <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/environment\/2024\/nov\/23\/cop29-agrees-13tn-climate-finance-deal-but-campaigners-brand-it-a-betrayal\" style=\"\" rel=\"noopener\">The Guardian<\/a>. The amount accounts for less than the USD 100 bn previously pledged, taking inflation into account, a Cuban representative <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/8c1031b6-2917-4e0f-904a-45f6cd20059e\" style=\"\" rel=\"noopener\">noted<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u2018COP\u2019s multilateralism is alive, but the 1.5 target is dead\u2019: <\/strong>\u201cWe needed to leave Baku with an agreement to keep the multilateral system alive. We kept the system alive. But I think 1.5 is dead,\u201d Panama\u2019s special representative for climate change Juan Carlos Monterrey-Gomez <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-23\/cop29-reached-a-hard-won-deal-on-climate-finance-no-one-s-happy-about-it\" style=\"\" rel=\"noopener\">said<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The goal doesn\u2019t add up:<\/strong> Economists are skeptical that USD 300 bn in government funds will be sufficient to \u201cleverage\u201d an additional USD 1 tn from the private sector. Historically, USD 1 of public finance has only attracted an average of USD 0.22 from private investors, <a target=\"_blank\" href=\"https:\/\/www.semafor.com\/article\/11\/24\/2024\/the-cop29-deal-is-even-more-disappointing-than-it-looks\" style=\"\" rel=\"noopener\">Semafor<\/a> reports citing data from think tank ODI. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Small islands will suffer most: <\/strong>\"I am not exaggerating when I say our islands are sinking! How can you expect us to go back to the women, men, and children of our countries with a poor [agreement] which will surely plunge them into further peril?\" Alliance of Small Island States\u2019 chair Cedric Schuster <a target=\"_blank\" href=\"https:\/\/www.axios.com\/2024\/11\/23\/cop29-agreement-climate-finance-deal\" style=\"\" rel=\"noopener\">said<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>No mention of fossil fuels in the final text: <\/strong>Transitioning away from fossil fuels \u2014 a key outcome of COP29 global stocktake \u2014 failed to make it in the final text after a bitter round of negotiations. A Saudi-led group of nations <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ed6bce60-e73f-4b6b-ab05-b2450e1dbfad\/\" style=\"\" rel=\"noopener\">reportedly<\/a> used a variety of tactics to block any new progress outlining possible actions on the pledge. Still, the agreement made a vague reference committing to the outcomes of COP29. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And polluters won\u2019t necessarily pay:<\/strong> The final outcome in Baku excluded references to the Make Polluters Pay principle at the last minute, disappointing civil society and nations that advocated for its inclusion, according to <a target=\"_blank\" href=\"https:\/\/www.greenpeace.org\/international\/story\/71482\/cop29-long-way-go\/\" style=\"\" rel=\"noopener\">Greenpeace<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>T<strong>he summit also had a breakthrough with an end to the deadlock on global <\/strong><strong>carbon market rules,<\/strong> reaching consensus on and agreeing to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/77f5a283-1888-41d5-accc-d36505c39e92\" style=\"\" rel=\"noopener\">\u201cfully operationalize\u201d Article 6.4<\/a> under the Paris Agreement. The regulated system would enable countries to meet emissions targets by trading credits bilaterally that represent one ton of CO2 reduced or removed, thus fostering faster decarbonization through international cooperation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The new carbon credits rules have criticisms:<\/strong> \"The flaws of Article 6 remain unfixed \u2026 Countries seem more interested in adopting weak rules and dealing with the consequences later, rather than preventing them,\" Carbon Market Watch policy expert Isa Mulder told Bloomberg. \u201cThe [agreement] leaves a lot of trust in the hands of [countries], which is a problem because the rules themselves are not yet net zero [emissions] aligned,\u201d University of Oxford research fellow Injy Johnstone told <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/cc0cba2f-751a-4909-806d-c975c15feeea\" style=\"\" rel=\"noopener\">The Financial Times<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So what could COP30 look like? <\/strong>Brazil is optimistic about the potential impact of COP30 in Belem \u2013 a small coastal city known as the gateway to the Amazon rainforest, reports <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-21\/cop29-brazil-s-plans-for-next-year-s-cop30-in-belem\" style=\"\" rel=\"noopener\">Bloomberg<\/a> citing Brazil\u2019s Secretary for Climate, Energy, and the Environment Andr\u00e9 Corr\u00eaa do Lago. But the upcoming summit is set to inherit several of the pending files that Baku\u2019s COP failed in resolving. This will include further discussions on transitioning away from fossils, how to scale up climate finances especially for debt-burdened poorer nations, and more on safeguarding funding for the Loss and Damage Fund. <\/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\">IN OTHER COP29 UPDATES- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Renewables giant Masdar and China's Silk Road Fund agreed <\/strong><strong>to co-invest RMB 20 bn (USD 2.8 bn)<\/strong> <strong>in renewable energy projects within Belt and Road Initiative (BRI) countries<\/strong> under an MoU, according to a <a target=\"_blank\" href=\"https:\/\/masdar.ae\/en\/news\/newsroom\/masdar-and-silk-road-fund-sign-co-investment-agreement-for-renewable-energy-projects\" style=\"\" rel=\"noopener\">statement<\/a>. The partnership focuses on emerging markets and the global south, with plans to invest in projects developed, invested in, or operated by Masdar. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- UAE-Azerbaijan green collaboration set to expand: <\/strong>Economy Minister Abdulla Bin Touq Al Marri met with his Azerbaijani counterpart Mikayil Jabbarov on the sidelines of COP29 to discuss increasing investments in the green economy transition, expanding renewable energy partnerships, and fostering joint digital initiatives, Azerbaijan\u2019s state news agency <a target=\"_blank\" href=\"https:\/\/azertag.az\/en\/xeber\/azerbaijan_uae_explore_investments_in_transition_to_green_economy-3294264\" style=\"\" rel=\"noopener\">Azertac<\/a> reports. The meeting also focused on ramping up economic and trade relations and supporting both countries' economic diversification goals.<\/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\/cop-watch\/\">COP WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/cop29\/\">COP29<\/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\/loss-and-damage\/\">loss 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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:\/\/weareinfinitypower.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/851.jpg?ssl=1\"><\/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=\"88186\" 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=\"88186\">\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\">DEBT WATCH<\/p>\r\n    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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2305.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"88187\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2024\/11\/25\/ifc-commits-usd-300-mn-to-sustainability-bond-issuance-usd-155-mn-in-green-financing-to-orascom-development\/2305-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2305.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2305.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2305.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2305.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-88186\" class=\"content-area-description single-story post-88186 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt-watch tag-egypt tag-enterpriseclimate tag-ifc 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\/11\/.260d4ba2-f486-4f28-a549-ae98e0386ca9.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The International Finance Corporation\u2019s (IFC) Africa head S\u00e9rgio Pimenta\u2019s <\/strong><strong>trip to Egypt<\/strong><strong> is making the headlines<\/strong>, with the private-sector focused World Bank Group member helping launch the country\u2019s first ever sustainability bond issuance and green financing for Orascom Development in El Gouna.<\/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\"> IFC SUPPORTS AAIB\u2019s SUSTAINABILITY BOND ISSUANCE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IFC commits the lion\u2019s share of AAIB\u2019s sustainability bond issuance:<\/strong> The Arab African International Bank (AAIB) has issued a USD 500 mn sustainability bond with the majority of funds covered by the International Finance Corporation, alongside the European Bank for Reconstruction and Development (EBRD) and the UK government\u2019s British International Investment (BII), according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/2259.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The bonds will work to increase \u201caccess to finance to businesses and projects that help reduce greenhouse gas emissions or otherwise protect the environment,\u201d while also helping address Egypt\u2019s growing \u201cfinancing needs for MSMEs,\u201d the statement read.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is the first ever issuance of sustainability bonds in Egypt<\/strong>, and also holds the title for being the largest ever sustainability bond issuance by a private bank on the continent, according to the statement. The bonds will have a duration of five years, according to a <a target=\"_blank\" href=\"https:\/\/disclosures.ifc.org\/project-detail\/SII\/48908\/dcm-arab-african-international-bank\" style=\"\" rel=\"noopener\">project summary<\/a> from the IFC.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown:<\/strong> The IFC subscribed to the bond with USD 300 mn, while the EBRD and BII each invested some USD 100 mn in the bond. Of the total amount, 75% of the bond\u2019s proceeds will be allocated to green financing \u2014 with the statement namechecking industrial energy-efficiency, small-scale renewable energy projects, and green buildings \u2014 while the remaining 25% will go towards providing financial assistance to MSMEs and inclusive finance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: \u201c<\/strong>As the largest investor in the country\u2019s first sustainability bond issued by AAIB, we are empowering a greener, more climate-resilient future for Egypt and contributing to the country\u2019s climate commitments,\u201d Pimenta said in the statement.<\/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\"> AND MORE IN GREEN FINANCING FOR ORASCOM-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>El Gouna set for a sustainability boost:<\/strong> The IFC is set to provide Orascom Development Egypt (ODE) with a sustainability linked loan equivalent to some USD 155 mn to help the firm \u201cimprove energy and water efficiency and reduce greenhouse gas (GHG) emissions\u201d across a number of its hotels in El Gouna, according to a joint <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/2254.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The loan will be split between two tranches of USD 96 mn and EUR 55 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The funds will go a long way in reducing ODE\u2019s energy consumption<\/strong>, with the loan set to help the firm reduce its energy consumption at its hotels by 50% from non-renewable energy sources, and will lessen water usage by at least 20% \u2014 which will be done using heat pumps, solar heaters, and by implementing water conservation measures, according to the statement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It will also help support ODE\u2019s growth opportunities in El Gouna,<\/strong> with the funds set to help fund renovations of its M\u00f6venpick Resort and Spa El Gouna. The IFC will also help ODE\u2019s Gouna hotels achieve EDGE certification \u2014 \u201can IFC innovation that scales up resource-efficient buildings.\u201d Part of the funds will also go towards improving the company\u2019s debt profile and refinancing existing debt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A big step for tourism in El Gouna:<\/strong> The agreement represents a \u201cnew and sustainable path\u201d for Egypt\u2019s tourism sector, Egypt\u2019s Planning and International Cooperation Minister Rania Al Mashat commented in a separate ministry <a target=\"_blank\" href=\"https:\/\/moic.gov.eg\/ar\/news\/1843?fbclid=IwY2xjawGwTwNleHRuA2FlbQIxMAABHStsNR5KVmoM[%E2%80%A6]Vrox4N_BgQYqO7uq2UgHR5R6GyYOnmpl1kdg_aem_4eBG97JEZyyyH7iKNo5P0w\" style=\"\" rel=\"noopener\">statement<\/a>. Al Mashat added that the agreement \u201creinforces (El Gouna\u2019s) position as a global destination for sustainable tourism, not only within Egypt but across the region.\u201d<\/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\/debt-watch\/\">DEBT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/ifc\/\">IFC<\/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=\"88188\" 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=\"88188\">\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\">IPO WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/11\/25\/moroccos-cmgp-gets-approval-to-launch-ipo\/\">\r\n                            Morocco\u2019s CMGP gets approval to launch IPO                        <\/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\/11\/25\/moroccos-cmgp-gets-approval-to-launch-ipo\/\" 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\/11\/25\/moroccos-cmgp-gets-approval-to-launch-ipo\/')\">\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\/11\/25\/moroccos-cmgp-gets-approval-to-launch-ipo\/\">\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=Morocco\u2019s CMGP gets approval to launch IPO&url=https:\/\/enterpriseam.com\/climate\/2024\/11\/25\/moroccos-cmgp-gets-approval-to-launch-ipo\/\">\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\/11\/25\/moroccos-cmgp-gets-approval-to-launch-ipo\/&title=Morocco\u2019s CMGP gets approval to launch IPO\">\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=Morocco%E2%80%99s+CMGP+gets+approval+to+launch+IPO+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2024%2F11%2F25%2Fmoroccos-cmgp-gets-approval-to-launch-ipo%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\/11\/25\/moroccos-cmgp-gets-approval-to-launch-ipo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1159.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"88189\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2024\/11\/25\/moroccos-cmgp-gets-approval-to-launch-ipo\/1159-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1159.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1159.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1159.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1159.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-88188\" class=\"content-area-description single-story post-88188 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-agritech tag-enterpriseclimate tag-ipo-watch tag-morocco 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\/11\/.a026bbfc-a400-4189-b235-f6e0ce8e561a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><\/strong><strong>Moroccan agritech company <\/strong><strong><a target=\"_blank\" href=\"https:\/\/cmgp-cas.com\/\" style=\"\" rel=\"noopener\">CMGP<\/a><\/strong> <strong> received approval to IPO on the <\/strong><strong>Casablanca stock exchange<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/2194.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The IPO could raise up to MAD 1.1 bn (c. USD 109.5 mn) through capital increase and sale of shares. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know:<\/strong> Up to 5.5 mn shares are expected to be up for grabs, including 1.5 mn new shares, at an issuance price of MAD 200 (c. USD 19.9) per share. The subscription period will run from 2 December to 6 December. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where will the money go: <\/strong>The company plans to use the capital raised to expand its manufacturing capacity, as well as funnel new investments into its operations in African markets, <a target=\"_blank\" href=\"https:\/\/alaoual.com\/%D8%B1%D8%A6%D9%8A%D8%B3%D9%8A%D8%A9\/412602.html\" style=\"\" rel=\"noopener\">Alaoual<\/a> reports, citing comments made by CEO Youssef Moamah at a press conference. Solar energy, water treatment, and seed treatment are areas of expansion the company has sights on for the future. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About CMGP: <\/strong>CMGP Group operates in three main areas including agriculture, water and irrigation infrastructure, and solar energy. African Development Partners II (ADP II) and AfricInvest completed a merger between CMGP and Comptoir Agricole du Souss (CAS) back in July 2021, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/2233.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a> at the time. The joining of the companies allows AfricInvest and ADP to expand irrigation and agricultural water management technologies, allowing the company to further expand into new markets in Africa. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Recent moves: <\/strong>CMGP, the IFC, and Morocco\u2019s Banque Centrale Populaire (BCP) set up a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/d7eb9f7c-a1f8-4a07-aadf-47d3a40a0946\/ifc-extends-usd-100-mn-loan-to-morocco%25e2%2580%2599s-ocp-to-boost-green-fertilizer-production\" style=\"\" rel=\"noopener\">USD 36 mn risk-sharing facility (RSF)<\/a> last year through which BCP would provide green loans to the kingdom\u2019s agricultural sector. The RSF will lend support to some 30k farmers and SMEs in the country by 2027 to boost capacities for solar-powered irrigation, the development of sustainable water management systems, and micro-irrigation farming in Morocco.<\/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\/agritech\/\">Agritech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/morocco\/\">Morocco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"88190\" 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=\"88190\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/11\/25\/saib-completes-its-usd-750-mn-tier-1-sustainable-sukuk-offering\/\">\r\n                            SAIB completes its USD 750 mn Tier 1 sustainable sukuk offering                        <\/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\/11\/25\/saib-completes-its-usd-750-mn-tier-1-sustainable-sukuk-offering\/\" 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\/11\/25\/saib-completes-its-usd-750-mn-tier-1-sustainable-sukuk-offering\/')\">\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\/11\/25\/saib-completes-its-usd-750-mn-tier-1-sustainable-sukuk-offering\/\">\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=SAIB completes its USD 750 mn Tier 1 sustainable sukuk offering&url=https:\/\/enterpriseam.com\/climate\/2024\/11\/25\/saib-completes-its-usd-750-mn-tier-1-sustainable-sukuk-offering\/\">\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\/11\/25\/saib-completes-its-usd-750-mn-tier-1-sustainable-sukuk-offering\/&title=SAIB completes its USD 750 mn Tier 1 sustainable sukuk offering\">\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=SAIB+completes+its+USD+750+mn+Tier+1+sustainable+sukuk+offering+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2024%2F11%2F25%2Fsaib-completes-its-usd-750-mn-tier-1-sustainable-sukuk-offering%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\/11\/25\/saib-completes-its-usd-750-mn-tier-1-sustainable-sukuk-offering\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2301.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"88191\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2024\/11\/25\/saib-completes-its-usd-750-mn-tier-1-sustainable-sukuk-offering\/2301-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2301.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2301.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2301.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2301.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-88190\" class=\"content-area-description single-story post-88190 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt-watch tag-enterpriseclimate tag-green-sukuk tag-saudi-arabia 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\/11\/.f1a88102-1144-45e8-a8f0-eaf58b90be43.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><\/strong><strong>The Saudi Investment Bank (SAIB) completed its USD 750 mn <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c18802d8-50a6-4edd-a25a-ef1c2b8c1cf4\/aramco-has-more-debt-plans-in-the-pipeline,-cfo-says\" style=\"\" rel=\"noopener\">Additional Tier 1<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c18802d8-50a6-4edd-a25a-ef1c2b8c1cf4\/aramco-has-more-debt-plans-in-the-pipeline,-cfo-says\" style=\"\" rel=\"noopener\">sustainable sukuk offering<\/a><\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83768&anCat=1&cs=1030&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The USD-denominated debt sale consisted of 3.75k sukuk, each valued at USD 200k, with an annual return of 6.37%. Settlement is scheduled for Wednesday, 27 November. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- Our friends at HSBC <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83754&anCat=1&cs=1030&locale=en\" style=\"\" rel=\"noopener\">are acting as<\/a><\/strong><strong> joint lead managers and bookrunners on <\/strong><strong>the <\/strong><strong>transaction<\/strong>, along with Alistithmar for Financial Securities and Brokerage, Citigroup Global Markets, J.P. Morgan Securities, Goldman Sachs, MUFG Securities EMEA plc, Arqaam Capital, and Standard Chartered.<\/p>\n<p class=\"tag-border-left\">IN OTHER SAUDI DEBT NEWS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Marafiq signs agreements with local lenders to extend loan terms:<\/strong> The Power and Water Utility Company for Jubail and Yanbu (<a target=\"_blank\" href=\"https:\/\/www.marafiq.com.sa\/\" style=\"\" rel=\"noopener\">Marafiq<\/a>) inked agreements with Banque Saudi Fransi, Saudi Awwal Bank, and Saudi National Bank rescheduling SAR 5.9 bn in Shariah-compliant loans, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83804&anCat=1&cs=2083&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The new timeline:<\/strong> The revised agreements see grace periods for the loans extended by three years, pushing the start of repayments to June 2028 from June 2025. Meanwhile, the new terms retain the original financing period which ends in December 2034. <\/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\/debt-watch\/\">DEBT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-sukuk\/\">Green sukuk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"88192\" 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=\"88192\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/11\/25\/egypts-fra-facilitates-the-sale-of-350-carbon-credits\/\">\r\n                            Egypt\u2019s FRA facilitates the sale of 350 carbon credits                        <\/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\/11\/25\/egypts-fra-facilitates-the-sale-of-350-carbon-credits\/\" 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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Beltone \u2014 which led some of the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/bb862a2e-5810-456c-866b-d21975211515\/egypt-officially-launches-africa%25e2%2580%2599s-first-carbon-market\" style=\"\" rel=\"noopener\">first carbon tradings<\/a> since the launch of Egypt\u2019s voluntary market in August \u2014 managed the transaction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More on the offset transaction: <\/strong>The EIF bought the credits to offset emissions from air flights for the attendees of its insurance conference in Sharm al-Sheikh. The FRA-listed EBDA\u2019s offsets are part of the organization\u2019s Minya Comprehensive Project for carbon offsets. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More could be coming: <\/strong>The Cabinet said the sale represents a \u201cfirst phase\u201d of a \u201clarger\u201d transaction that will be announced later. It is unclear whether the sale will include other players or not, and there are no details on the total number of credits. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Egypt <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/bb862a2e-5810-456c-866b-d21975211515\/egypt-officially-launches-africa%25e2%2580%2599s-first-carbon-market\" style=\"\" rel=\"noopener\">officially launched<\/a> its voluntary carbon trading market \u2014 the first in the country and Africa \u2014 in August. The market allows companies to issue and trade voluntary carbon certificates in Egypt and Africa, which can be bought by other companies wanting to offset their emissions. The FRA was in charge of wrapping up all the requirements and procedures to register carbon emissions-reducing projects and kick-start the market.<\/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>Saudi joins IPHE: <\/strong>Saudi Arabia has officially joined the International Partnership for the Hydrogen and Fuel Cells in the Economy. The IPHE aims to support international collaboration to expand the adoption of hydrogen and fuel cell technologies. (<a target=\"_blank\" href=\"https:\/\/spa.gov.sa\/en\/N2212026\" style=\"\" rel=\"noopener\">SPA<\/a>)<\/li>\n<li><strong>Iran constructing 36 water treatment plants: <\/strong>Iran is building 36 new water treatment plants with a combined total capacity of 2.7 mn cubic meters, according to the head of the National Water and Wastewater Engineering Company. The projects come under the government\u2019s attempt to improve water infrastructure and increase access to clean drinking water. (<a target=\"_blank\" rel=\"noopener\">Tehran Times<\/a>)<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/carbon-markets\/\">carbon markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/carbon-offsetting\/\">carbon offsetting<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/egypt\/\">Egypt<\/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=\"88194\" 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=\"88194\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/11\/25\/the-bahamas-has-unlocked-over-usd-120-mn-in-a-debt-swap\/\">\r\n                            The Bahamas has unlocked over USD 120 mn in a debt swap                        <\/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\/11\/25\/the-bahamas-has-unlocked-over-usd-120-mn-in-a-debt-swap\/\" 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 transaction saw the island nation use a low-interest USD 300 mn loan from Standard Chartered to repurchase Eurobonds and a commercial loan, redirecting interest and principal payment savings towards nature conservation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Made possible by private sector guarantees: <\/strong> The agreement is one of the debt swaps to use private sector guarantees, with impact investor Builders Vision providing a USD 70 mn credit guarantee and Axa XL giving USD 30 mn in insurance. The Inter-American Development Bank also gave a partial guarantee of USD 200 mn to allow Standard Chartered to price its 15-year loan at 4.7%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And the Maldives is laying the ground for its debt-for-nature program: <\/strong>The Maldives is working on a debt-for-nature swap that would fund the preservation of coral reefs, mangroves, and sea grass, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sustainability\/sustainable-finance-reporting\/maldives-working-debt-for-nature-swap-says-minister-2024-11-21\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported on Thursday, citing climate change, environment, and energy minister Thoriq Ibrahim. The island nation \u2014 which is at risk of being the first to default on Islamic sovereign debt with low foreign currency reserves \u2014 signed an agreement with US conservation group The Nature Conservancy for the project. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>China tightens solar investment rules: <\/strong>China\u2019s industry ministry has finalized stricter solar PV investment guidelines to rein in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f46d4ece-0146-4eaa-8ca4-6a1acfc34a5c\/today:-riyad-bank-closes-usd-750-mn-sustainable-sukuk-issuance\" style=\"\" rel=\"noopener\">major<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f46d4ece-0146-4eaa-8ca4-6a1acfc34a5c\/today:-riyad-bank-closes-usd-750-mn-sustainable-sukuk-issuance\" style=\"\" rel=\"noopener\">overcapacity<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f46d4ece-0146-4eaa-8ca4-6a1acfc34a5c\/today:-riyad-bank-closes-usd-750-mn-sustainable-sukuk-issuance\" style=\"\" rel=\"noopener\">worries<\/a> plaguing the industry, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/china-finalises-stricter-investment-guidelines-solar-manufacturing-2024-11-20\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported last week. Companies will now have to maintain a minimum capital ratio of 30% instead of 20%. The move is intended to incentivize local governments to be more selective with future manufacturing projects based on local resource availability and industrial readiness. The new rules, however, will not be binding in project approvals. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not the first move: <\/strong>China earlier reduced tax credits provided for solar manufacturers as part of a series of a national push to address overcapacity. The move is expected to lead to a slight price increase for importers of Chinese solar components, Reuters reported, citing analysts. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fusion tech firm <\/strong><strong>Tokamak <\/strong><strong>Energy closes funding round:<\/strong> UK-based <a target=\"_blank\" href=\"https:\/\/tokamakenergy.com\/\" style=\"\" rel=\"noopener\">Tokamak<\/a><a target=\"_blank\" href=\"https:\/\/tokamakenergy.com\/\" style=\"\" rel=\"noopener\">Energy<\/a> has raised USD 125 mn to accelerate its plans to commercialize fusion energy and expand its <a target=\"_blank\" href=\"https:\/\/tokamakenergy.com\/our-fusion-energy-and-hts-technology\/hts-business\/\" style=\"\" rel=\"noopener\">high-temperature superconducting (HTS) technology TE Magnetics<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/tokamakenergy.com\/2024\/11\/20\/tokamak-energy-raises-125m-to-commercialise-transformative-fusion-and-magnet-technologies\/\" style=\"\" rel=\"noopener\">statement<\/a> published last week. The funding round, co-led by East X Ventures and Lingotto Investment Management, includes new investors such as Furukawa Electric Company and British Patient Capital. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New frontiers: <\/strong>The investment will support the rapid growth of the superconductors TE Magnetics, which the company says can support innovation through its applications in other industries, including mobility and renewable energy. It will also advance Tokamak Energy's fusion pilot plant design and develop new fusion technologies using its <a target=\"_blank\" href=\"https:\/\/tokamakenergy.com\/2022\/12\/14\/first-plasma-for-tokamak-energys-upgraded-st40-fusion-device\/\" style=\"\" rel=\"noopener\">spherical tokamak ST40<\/a>.<\/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>Ford to start layoffs in Europe: <\/strong>Ford plans to cut 4k jobs in Europe by the end of 2027, representing 14% of its 28k European labor force. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/0df4cea9-a2e4-4f29-96d8-8d342825b4f2\" style=\"\" rel=\"noopener\">Financial Times<\/a>)<\/li>\n<li><strong>Equinor axes 20% of renewables team: <\/strong>Norway\u2019s biggest oil and gas company Equinor is cutting 20% of its renewable energy division\u2019s staff and will trim the division\u2019s pipeline. The company has recently scrapped offshore projects in Vietnam, Portugal, France, and Spain. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/norways-equinor-cuts-20-staff-renewables-unit-2024-11-21\/\" style=\"\" rel=\"noopener\">Reuters<\/a>) <\/li>\n<li><strong>Greece set to decarbonize tourist islands: <\/strong>Greece, the European Commission, and the European Investment Bank will set up a fund to help the country\u2019s islands transition away from fossil fuels and reduce energy costs. The fund will aim to mobilize EUR 5.6 bn to expand power infrastructure, and build wind, solar, and hydroelectric stations with batteries as well as charging stations for e-ships. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sustainability\/sustainable-finance-reporting\/greece-will-set-up-fund-decarbonise-its-islands-2024-11-21\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/around-the-world\/\">AROUND THE WORLD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/debt-for-nature\/\">debt-for-nature<\/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\/nuclear-fusion\/\">nuclear fusion<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/solar-energy\/\">solar energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"88196\" 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\/11\/25\/88196\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-88196\" class=\"content-area-description single-story post-88196 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:1.1500000000000001;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:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>26- 27 November: (Tuesday - Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wam.ae\/en\/article\/b4243wl-abu-dhabi-host-world-food-security-summit-for\" style=\"\">World Food Security Summit<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi, UAE.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>26-28 November (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egypt-energy.com\/en\/home.html\" style=\"\">Egypt Energy Show<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>27-28 November (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/rakenergysummit.rak.ae\/\" style=\"\">RAK Energy Summit<\/a><\/span><span style=\"font-weight:400;\">, Ras Al Khaimah, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;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:1.1500000000000001;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, Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>3-4 December (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/msgbcoilgasandpower.com\/event\/msgbc-oil-gas-power-2024\/\" style=\"\">MSGBC Oil, Gas & Power 2024 conference<\/a><\/span><span style=\"font-weight:400;\">, Dakar, Senegal.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>3-5 December (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/wesc-conference.qu.edu.qa\/\" style=\"\">World Energy Storage Conference<\/a><\/span><span style=\"font-weight:400;\">, Doha, Qatar. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>4-6 December (Wednesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.icspies.org\/\" style=\"\">International Conference on Smart Power & Internet Energy Systems<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi, UAE. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>10-12 December (Tuesday to Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.mangroveconference.com\/en\/about\/conference\/\" style=\"\">International Mangrove Conservation and Restoration Conference<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi, UAE. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>16-18 December (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudi-sg.com\/\" style=\"\">Saudi Arabia Smart Grid Conference<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>22-24 December (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/rsegp-conference.com\/\" style=\"\">Renewable & Sustainable Energies And Green Processes Conference<\/a><\/span><span style=\"font-weight:400;\">, Sousse, Tunisia. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JANUARY 2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>12-15 January (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wrenuk.co.uk\/\" style=\"\">World Renewable Energy Congress<\/a><\/span><span style=\"font-weight:400;\">, Manama, Bahrain.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>14-16 January (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldfutureenergysummit.com\/\" style=\"\">World Energy Summit<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi, UAE. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>14-16 January (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.futuremineralsforum.com\/\" style=\"\">Future Minerals Forum<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, Saudi Arabia. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>18-19 January (Saturday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/libyasummit.com\/\" style=\"\">Libya Energy & Economic Summit<\/a><\/span><span style=\"font-weight:400;\">, Tripoli, Libya. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>28-29 January (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/sustainmideast.com\/\" style=\"\">Sustainability Forum Middle East<\/a><\/span><span style=\"font-weight:400;\">, Manama, Bahrain.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">FEBRUARY <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>17-19 February (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egypes.com\/\" style=\"\">Egypt Energy Show<\/a><\/span><span>, Cairo, Egypt. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>23-25 February (Sunday- Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/gweccc.com\/\" style=\"\">Global Water Energy and Climate Change Congress<\/a><\/span><span style=\"font-weight:400;\">, Manama, Bahrain.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>24-26 February (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.mena.gh2events.com\/\" style=\"\">Connecting Hydrogen MENA<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>24-27 February (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.zawya.com\/en\/press-release\/events-and-conferences\/environment-authority-to-hold-inaugural-oman-climate-week-february-24-27-2025-uwf3f8c6\" style=\"\">Oman Climate Week<\/a><\/span><span style=\"font-weight:400;\">, Muscat, Oman. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">APRIL  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>7-9 April (Monday-Wednesday): <\/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:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>14-15 April (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.karbonzirvesi.com\/\" style=\"\">Istanbul Carbon Summit<\/a><\/span><span style=\"font-weight:400;\">, Istanbul, Turkey.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>21-23 April (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/abudhabi.evinnovationsummit.com\/\" style=\"\">Electric Vehicle Innovation Summit (EVIS)<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MAY  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>7-9 May (Wednesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.irenec.org\/eng\/\" style=\"\">International Renewable Energy Conference (IRENEC)<\/a><\/span><span style=\"font-weight:400;\">, Istanbul, Turkey. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>17-20 June (Tuesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.tap.info.tn\/en\/Portal-Economy\/17936683-tunis-to-host\" style=\"\">Mediterranean Water, Irrigation and Photovoltaic Exhibition<\/a><\/span><span style=\"font-weight:400;\">, Tunisia. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;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:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">2024 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;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:\/\/climate.enterprise.press\/stories\/2022\/09\/01\/central-asias-largest-wind-farm-brought-to-you-by-masdar-79878\/\" style=\"\">begin commercial operations<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;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:\/\/climate.enterprise.press\/stories\/2022\/08\/30\/could-fdi-help-egypts-solar-industry-traverse-the-fx-crisis-79599\/\" style=\"\">will start electricity<\/a><\/span><span style=\"font-weight:400;\"> production. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>November: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.almamlakatv.com\/news\/142146-%D9%85%D9%86%D8%AA%D8%AF%D9%88%D9%86-%D9%8A%D9%88%D8%B5%D9%88%D9%86-%D8%A8%D8%AA%D9%88%D9%81%D9%8A%D8%B1-20-%D8%A3%D9%84%D9%81-%D9%81%D8%B1%D8%B5%D8%A9-%D8%B9%D9%85%D9%84-%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9-%D8%A8%D9%82%D8%B7%D8%A7%D8%B9-%D8%A7%D9%84%D8%B7%D8%A7%D9%82%D8%A9-%D8%A7%D9%84%D8%AD%D9%8A%D9%88%D9%8A%D8%A9-%D9%81%D9%8A-%D8%A7%D9%84%D8%AF%D9%88%D9%84-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9\" style=\"\">Arab Forum for Renewable Energy and Energy Efficiency<\/a><\/span><span style=\"font-weight:400;\">, Amman, Jordan.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2025 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;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:1.1500000000000001;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:\/\/climate.enterprise.press\/stories\/2022\/09\/01\/uae-may-be-getting-more-evs-79880\/\" 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:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/expo-sharjah-signs-partnership-agreement-to-launch-the-middle-east-electric-vehicle-show-2025-htkk34ud\" style=\"\">Middle East Electric Vehicle Show<\/a><\/span><span style=\"font-weight:400;\">, Sharjah, UAE. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2026 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;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:1.1500000000000001;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:1.1500000000000001;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:1.1500000000000001;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:\/\/climate.enterprise.press\/stories\/2022\/09\/01\/qatar-to-build-usd-1-bn-blue-ammonia-plant-79877\/\" style=\"\">to be completed<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;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:\/\/climate.enterprise.press\/stories\/2022\/09\/01\/will-we-soon-see-a-carbon-offset-tax-in-egypt-79885\/\" 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:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;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:\/\/climate.enterprise.press\/stories\/2022\/08\/30\/goodbye-single-ac-units-mena-wont-be-needing-your-services-anymore-79605\/\" 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:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">World Water Forum, Riyadh, Saudi Arabia. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2030 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;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:\/\/climate.enterprise.press\/stories\/2022\/08\/29\/today-welcome-to-enterprise-climate-the-essential-daily-covering-climate-change-in-the-middle-east-and-africa-business-finance-investment-79432\/\" 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:1.1500000000000001;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:\/\/climate.enterprise.press\/stories\/2022\/08\/29\/enterprise-climate-sits-down-with-mariam-almheiri-the-uaes-climate-change-and-environment-minister-79434\/\" 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:1.1500000000000001;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:\/\/climate.enterprise.press\/stories\/2022\/09\/07\/project-update-tunisia-speaks-to-afdb-ifc-for-solar-plant-financing-80546\/\" 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:1.1500000000000001;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:\/\/climate.enterprise.press\/stories\/2022\/08\/30\/today-cloud-wars-afreximbank-gets-love-from-nexi-also-indias-reliance-wants-to-build-20-gw-of-renewables-79598\/\" 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:1.1500000000000001;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:\/\/climate.enterprise.press\/stories\/2022\/08\/31\/moroccos-usd-18-bn-renewables-export-hub-79733\/\" 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:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2035 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;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:\/\/climate.enterprise.press\/stories\/2022\/09\/01\/qatar-to-build-usd-1-bn-blue-ammonia-plant-79877\/\" 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:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2045 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;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:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2050<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;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:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2060 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;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:\/\/climate.enterprise.press\/stories\/2022\/08\/29\/today-welcome-to-enterprise-climate-the-essential-daily-covering-climate-change-in-the-middle-east-and-africa-business-finance-investment-79432\/\" 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    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s a wrap on COP29| IFC kicks in USD mns in green financing to Egypt | Morocco\u2019s CMGP gets approval to launch IPO<\/p>\n","protected":false},"featured_media":88179,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-88178","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"532ccb68-223e-457f-bbe7-a75f4dcf4132","teaser":"It\u2019s a wrap on COP29| IFC kicks in USD mns in green financing to Egypt | Morocco\u2019s CMGP gets approval to launch IPO","photo_url":"https:\/\/ent.news\/2024\/2\/1160.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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