{"id":75137,"date":"2022-12-07T02:05:26","date_gmt":"2022-12-07T02:05:26","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2022\/12\/07\/today-thank-you-for-coming-eu-tariff-squabble-could-lead-to-a-price-hike-for-evs\/"},"modified":"2022-12-07T02:05:26","modified_gmt":"2022-12-07T02:05:26","slug":"today-thank-you-for-coming-eu-tariff-squabble-could-lead-to-a-price-hike-for-evs","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2022\/12\/07\/today-thank-you-for-coming-eu-tariff-squabble-could-lead-to-a-price-hike-for-evs\/","title":{"rendered":"TODAY: Thank you for coming + EU tariff squabble could lead to a price hike for EVs"},"content":{"rendered":"

Good morning, friends.<\/strong> We bring you a relatively calm morning in terms of regional climate news, although we\u2019re writing to you after the Enterprise team had an exceptionally exciting day yesterday.<\/p>\n

We were thrilled to welcome so many of you from Egypt and the region at our first <\/strong>Enterprise<\/strong> Climate X Forum<\/strong> at the Grand Egyptian Museum yesterday to discuss what we firmly believe is the most compelling industry of our generation.<\/p>\n

The forum tackled the climate industry from A-Z<\/strong>, from explaining green hydrogen \u2014 which remains an early stage of its rollout, looks set to become is a key component of our future energy mix \u2014 to how corporates in global emerging markets are coping with climate change. We also took a deep dive into climate finance to look at the role banks play in getting green projects off the ground \u2014 and what the opportunity in climate financial means for financial institutions (which we recap for you in the news well below).<\/p>\n

WE HAVE MORE in this morning\u2019s EnterpriseAM <\/strong>and will have additional coverage over the coming days.<\/p>\n

Please join us in thanking the wonderful people who made yesterday<\/strong>, our friends at: USAID, HSBC, Mashreq, Attijariwafa Bank, Etisalat by e&, Hassan Allam Utilities, and Infinity.<\/p>\n

STAY TUNED-<\/strong> The Enterprise Climate X Forum is our first large-scale event, but it\u2019s not our last. We look forward to welcoming many more of you at our slate of Enterprise X Forums coming up in 2023.<\/p>\n

\n

ICYMI- Should we prioritize adaptation to climate change or mitigation? It shouldn\u2019t be a <\/strong>zero-sum game, our panelists yesterday at the Enterprise Climate X Forum agreed<\/strong> \u2014 in fact, the regional private sector is growing particularly interested in adaptation (learning to live with a changing world) and not just mitigation (how to lower our emissions).<\/p>\n

But when big money is involved, the debate can get heated.<\/strong> The state of the debate globally has seen wealthy nations champion mitigation for a long time now, but developing nations \u2014 who disproportionately bear the brunt of climate change \u2014 are pushing for much more financing for adaptation. We have more on the mitigation vs. adaptation debate in this week\u2019s Going Green<\/a> in EnterpriseAM.<\/p>\n

THE BIG CLIMATE STORY OUTSIDE THE REGION- The EU doesn\u2019t want products<\/strong> linked to deforestation: <\/strong>The European Commission sealed a provisional agreement<\/a> yesterday to reject products that come from deforested lands. This includes coffee, beef, palm oil, timber, cocoa, rubber, charcoal and soy \u2014 generally in their pure form, but also including their derivatives. The commodities and products that fall under this category will no longer be imported or sold in the EU. (Bloomberg<\/a> | Reuters<\/a> | Euronews<\/a>)<\/p>\n

SOUND<\/strong> SMART- <\/strong>The decision comes a day before the kickoff of the UN\u2019s biodiversity summit COP15<\/a> in Montr\u00e9al. COP15 runs through19 December. The UN Biodiversity Conference<\/a> is looking to reach a post-2020 global biodiversity framework<\/a> which includes 21 targets to hit by 2030<\/a> in a bid to preserve and safeguard nature.<\/p>\n

<\/a> ALSO- EV prices could rise by 10% in Europe:<\/strong> The EU\u2019s refusal to extend tariff exemptions on essential components needed for electric vehicle manufacturing could lead to a 10% price hike from 2024, the Financial Times<\/a> reports. Under the UK-EU Trade and Cooperation Agreement, EVs are temporarily exempted from the rules that products must be substantially made in Britain or the EU to qualify for a zero tariff. A large portion of EV batteries are imported from Asia, leading both EU and UK car manufacturing groups to press for an extension on the tariff exemption due to a lack of locally-made batteries and precursor chemicals needed for EV manufacturing.<\/p>\n

\n

<\/a> WATCH THIS SPACE #1- Moroccan farmers will be the first to grow a <\/strong>drought-resistant variety of wheat within three years<\/strong>, the Guardian<\/a> reports. Farmers and crop scientists developed this cross hybrid variety of wheat \u2014 called Jabal \u2014 by mixing commercial durum wheat with a wild Syrian relative to produce a climate resilient crop.<\/p>\n

REMEMBER- <\/strong>A 1\u00b0C rise in temperatures could cause a 6.4% drop in the amount of wheat grown around the world, the BBC<\/a> reported last month. Universities and institutions worldwide have been engineering more resilient and nutritious foods<\/a> as droughts and other climate risks threaten agriculture and food security.<\/p>\n

WATCH THIS SPACE #2-<\/strong> The construction contract for Kuwait\u2019s North Kabd<\/strong> sewage treatment extension project could be awarded by 1Q 2023<\/strong>, Zawya<\/a> reports, citing a source it says is in the know. The country\u2019s Public Works Ministry had issued the tender for the contract, which will include the management, operation, and maintenance of the entire plant, in July. The project is set to increase North Kabd\u2019s capacity by 90k cubic meters per day (cbm\/d), bringing the entire facility\u2019s treatment capacity to 270k cbm\/d. The USD 500 mn overall plant is expected to be fully completed by 2025, the outlet quotes the source as saying.<\/p>\n

\n

HAPPENING TODAY- <\/strong><\/p>\n

The Big 5 Global Construction Impact Summit<\/a><\/strong> is kicking off today at the Dubai World Trade Center in UAE. The event will bring together more than 2k exhibitors and regional and global construction industry leaders to discuss ways to meet net-zero and waste-reduction targets.<\/p>\n

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The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

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YOU\u2019RE READING ENTERPRISE CLIMATE, the essential MENA publication for senior execs who care about the world\u2019s most important industry. <\/strong>We\u2019re out Monday through Thursday at 4am Cairo \/ 5am Riyadh \/ 6am UAE.<\/p>\n

Were you forwarded this email? Get your own <\/strong>subscription without charge here<\/a><\/strong> or reach out to us on climate@enterprisemea.com<\/a> with comments, suggestions and story tips.<\/p>\n

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CIRCLE YOUR CALENDAR- <\/strong><\/p>\n

Saudi Arabia will host the <\/strong>China-Arab Summit<\/a><\/strong> this Friday, 9 December. The Chinese delegation \u2014 including President Xi Jinping \u2014 will discuss and potentially sign dozens of agreements with KSA and other Arab states covering energy, security and investments, according to Reuters<\/a>.<\/p>\n

Tunisia will host the <\/strong>International Renewable Energy Congress<\/a><\/strong> from Tuesday, 13 December to Thursday, 15 December in Hammamet. The event will provide a platform for researchers and industry leaders to showcase trends in the renewable energy sector.<\/p>\n

Saudi Arabia will host <\/strong>The Future Minerals Forum<\/a><\/strong> on Tuesday, 10 January to Thursday, 12 January at the King Abdulaziz International Conference Center. The forum will discuss the region\u2019s critical minerals supply and creating resilient and responsible minerals value chains for the energy transition.<\/p>\n

Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, friends. We bring you a relatively calm morning in terms of regional climate news, although we\u2019re writing to you after the Enterprise team had an exceptionally exciting day yesterday. 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