{"id":75162,"date":"2022-12-08T01:56:33","date_gmt":"2022-12-08T01:56:33","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2022\/12\/08\/today-chinas-xi-lands-in-saudi-arabia-renewables-will-overtake-coal-by-2026\/"},"modified":"2022-12-08T01:56:33","modified_gmt":"2022-12-08T01:56:33","slug":"today-chinas-xi-lands-in-saudi-arabia-renewables-will-overtake-coal-by-2026","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2022\/12\/08\/today-chinas-xi-lands-in-saudi-arabia-renewables-will-overtake-coal-by-2026\/","title":{"rendered":"TODAY: China\u2019s Xi lands in Saudi Arabia + Renewables will overtake coal by 2026"},"content":{"rendered":"<p><strong>Good morning, wonderful people. <\/strong>Climate news from MENA is then today, but we have plenty of interesting reads this morning.<\/p>\n<p><strong>We talked to <\/strong><strong>EFG Hermes Research Head of Strategy Simon Kitchen at the Enterprise<\/strong><strong> Climate X Forum <\/strong>on Tuesday about how climate is impacting CEOs across emerging markets \u2014 and how macro forces are shaping their freedom to invest and act. He talks to us about why the green transition is crucial specifically for emerging countries, what\u2019s driving change for CEOs, where loss and damage funds should be placed, and his outlook for 2023.<\/p>\n<p><strong>^^ We have the rundown on our conversation <\/strong>in the news well, below.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>THE BIG CLIMATE STORY- China and KSA are getting ready to talk a whole <\/strong><strong>lotta energy. <\/strong>Chinese President Xi Jinping landed in Saudi Arabia yesterday \u2014 along with a delegation of companies \u2014 to attend the China-Arab Summit that kicks off tomorrow, with energy talks at the forefront of the visit. The two countries are set to discuss renewables, green hydrogen, and nuclear energy, Saudi Energy Minister of Energy Prince Abdulaziz bin Salman said, according to <a href=\"https:\/\/www.spa.gov.sa\/viewstory.php?lang=en&newsid=2407415\">SPA<\/a>.<\/p>\n<p><strong>AND- Egypt just gained more momentum <\/strong>on the green hydrogen file.<\/p>\n<p><strong>THE BIG CLIMATE STORY OUTSIDE THE REGION- The EU has a climate bone to<\/strong><strong> pick with the aviation industry. <\/strong>The bloc agreed on a law that would see airlines paying more for the CO2 they emit in a bid to encourage the industry to decarbonize faster, <a href=\"https:\/\/www.reuters.com\/business\/environment\/eu-agrees-law-make-airlines-pay-more-pollute-2022-12-07\/\">Reuters<\/a> reports. Domestic flights within Europe currently submit permits from the EU\u2019s carbon market to cover their emissions and most of these permits are given to them by the EU at no cost. The new agreement would will phase out the no-cost permits by 2026.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>WATCH THIS SPACE #1- Renewable energy sources are set to<\/strong> <strong>account for a larger share of our global energy mix than coal <\/strong><strong>by 2025<\/strong>, according to a new International Energy Agency (IEA) <a href=\"https:\/\/ent.news\/2022\/12\/2934.pdf\">report (pdf)<\/a>. Renewable energy capacity is expected to grow by some 2.4k GW \u2014 that\u2019s the equivalent of China\u2019s entire current installed renewables capacity. The IEA\u2019s projection indicates that over the next five years, 90% of electricity expansion projects will be renewables-based.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>WATCH THIS SPACE #2- Could EV rentals be coming to Egypt as early as <\/strong><strong>next year? <\/strong>India-based car rental outfit <a href=\"https:\/\/www.zoomcar.com\/\">Zoomcar<\/a> plans to add 100 EVs to its Egyptian fleet by the end of 2023, a company representative told Enterprise Climate. The car rentals firm plans to expand into the Saudi Arabian market by next year, and boost the number of EV rentals in Egypt to some 500 vehicles by 2024.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"climate\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><p>***<br \/>\n <strong>YOU\u2019RE READING ENTERPRISE CLIMATE, the essential regional publication for senior execs who care about the world\u2019s most important industry. <\/strong>Enterprise Climate covers everything from finance and tech to regulation, products and policy across the Middle East and North Africa. In a nod to the growing geographical ambitions of companies in our corner of the world, we also include an overview of the big trends and data points in nearby countries, including Africa and southern Europe.<\/p>\n<p><strong>Enterprise Climate is published at 4am CLT \/ 5am Riyadh \/ 6am UAE Monday through Thursday by Enterprise<\/strong>, the folks who bring you Enterprise Egypt, your essential 6am and 3pm reads on business, finance, policy and economy in Egypt and emerging markets.<\/p>\n<p><strong><a href=\"https:\/\/climate.enterprise.press\/subscribe\/\">Subscribe to Enterprise Climate here<\/a><\/strong> or reach out to us on <a href=\"mailto:climate@enterprisemea.com\">climate@enterprisemea.com<\/a> with comments, suggestions and story tips.<\/p>\n<p><strong>***<\/strong><\/p>\n<p><strong>CIRCLE YOUR CALENDAR- <\/strong><\/p>\n<p><strong>Saudi Arabia will host the <\/strong><strong><a href=\"https:\/\/www.reuters.com\/world\/saudi-china-energy-trade-investment-ties-2022-12-06\/\">China-Arab Summit<\/a><\/strong> tomorrow. 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 <a href=\"https:\/\/www.reuters.com\/world\/saudi-china-energy-trade-investment-ties-2022-12-06\/\">Reuters<\/a>.<\/p>\n<p><strong>Tunisia will host the <\/strong><strong><a href=\"https:\/\/irec-conference.com\/\">International Renewable Energy Congress<\/a><\/strong> from next 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<p><strong>FURTHER DOWN THE LINE- Saudi Arabia will host the <\/strong><strong><a href=\"https:\/\/www.futuremineralssummit.com\/\">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<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning, wonderful people. Climate news from MENA is then today, but we have plenty of interesting reads this morning. We talked to EFG Hermes Research Head of Strategy Simon Kitchen at the Enterprise Climate X Forum on Tuesday about how climate is impacting CEOs across emerging markets \u2014 and how macro forces are shaping [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":75163,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[44],"tags":[267,69,11,173,767,88,159,43,1348],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-75162","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-aviation","tag-china","tag-enterpriseclimate","tag-eu","tag-ev","tag-renewables","tag-saudi-arabia","tag-what-were-tracking-today","tag-zoomcar","wpautop","entry"],"acf":{"mongo_id":"5165cd56-4397-4543-b0b8-c463929335d6","order":"0","is_powered_by":true,"story_type":"4","photo_url":"https:\/\/ent.news\/2022\/12\/2269.jpg","photo_position":"above","related_issue":[75160],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>TODAY: China\u2019s Xi lands in Saudi Arabia + Renewables will overtake coal by 2026 - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2022\/12\/08\/today-chinas-xi-lands-in-saudi-arabia-renewables-will-overtake-coal-by-2026\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TODAY: China\u2019s Xi lands in Saudi Arabia + Renewables will overtake coal by 2026\" \/>\n<meta property=\"og:description\" content=\"Good morning, wonderful people. 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