{"id":75483,"date":"2023-01-10T01:52:04","date_gmt":"2023-01-10T01:52:04","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/01\/10\/today-adnoc-and-ocp-earmark-bns-in-a-decarbonization-push-saudi-arabia-on-track-to-recycle-40k-tons-of-e-waste-by-next-year\/"},"modified":"2023-01-10T01:52:04","modified_gmt":"2023-01-10T01:52:04","slug":"today-adnoc-and-ocp-earmark-bns-in-a-decarbonization-push-saudi-arabia-on-track-to-recycle-40k-tons-of-e-waste-by-next-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/01\/10\/today-adnoc-and-ocp-earmark-bns-in-a-decarbonization-push-saudi-arabia-on-track-to-recycle-40k-tons-of-e-waste-by-next-year\/","title":{"rendered":"TODAY: Adnoc and OCP earmark bns in a decarbonization push + Saudi Arabia on track to recycle 40k tons of e-waste by next year"},"content":{"rendered":"<p><strong>Good morning, wonderful people. <\/strong>The world has woken up from the lull of the past few weeks and we have a slew of regional updates for you. Let\u2019s dive right in.<\/p>\n<p><strong>THE BIG CLIMATE STORY- <\/strong>The UAE's Adnoc and Morocco\u2019s OCP are investing USD bns in decarbonization efforts in the next few years, pivoting to renewable energy and carbon capture. Saudi Arabia is also set to get e-waste recycling facilities off the back of an agreement between recycling company Tadweeer and KSA-based firms Tebrak Trading & Contracting Company and Mounes Mohamed Alshayeb for Civil Construction.<\/p>\n<p><strong>^^ We have chapter and verse on this story and more in the news well, below. <\/strong><\/p>\n<p><strong>THE BIG CLIMATE STORY OUTSIDE THE REGION<\/strong><strong>- Believe it or not, there\u2019s <\/strong><strong>positive climate news today.<\/strong> Amid quite a lot of climate-focused news, two main stories are dominating international press coverage. The ozone layer is on track to fully recover by 2066 if current policies remain in place, with a 1989 mass phase-out of ozone-depleting substances having helped consistently reduce the size of the ozone hole, <a href=\"https:\/\/www.unep.org\/news-and-stories\/press-release\/ozone-layer-recovery-track-helping-avoid-global-warming-05degc\">the UN announced<\/a> yesterday, citing a panel of experts.<\/p>\n<p><strong>The story got ink in several international outlets<\/strong>: <a href=\"https:\/\/www.nytimes.com\/2023\/01\/09\/climate\/ozone-hole-restoration-montreal-protocol.html?smid=nytcore-ios-share&referringSource=articleShare\">New York Times<\/a> | <a href=\"https:\/\/www.dw.com\/en\/ozone-layer-recovers-limiting-global-warming-by-05c\/a-64308435\">Deutsche Welle<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/health\/un-says-ozone-layer-slowly-healing-hole-to-mend-by-2066\/2023\/01\/09\/b6b3d6ac-902e-11ed-90f8-53661ac5d9b9_story.html\">Washington Post<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/earths-ozone-layer-recovering-as-damaging-airborne-chemicals-decline-11673276426\">Wall Street Journal<\/a> | <a href=\"https:\/\/www.theguardian.com\/environment\/2023\/jan\/09\/ozone-layer-healed-within-decades-un-report\">Guardian<\/a><\/p>\n<p><strong>Meanwhile, international donors yesterday committed USD 9-10 bn to support Pakistan\u2019s <\/strong><strong>recovery from <\/strong><strong><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/83d8bb01-61ff-4cc3-adb5-3b477f8b98c7\">last year\u2019s<\/a><\/strong><strong> devastating climate change-induced floods.<\/strong> The Islamic Development Bank made a whopping USD 4.2 bn contribution, the World Bank committed USD 2 bn, and Saudi Arabia USD 1 bn, <a href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/un-chief-calls-massive-investments-pakistan-recovery-2023-01-09\/\">Reuters<\/a> reports. The EU, China, France and the US were also among the list of donors, according to Pakistan\u2019s information minister. The funds exceed the USD 8 bn over three years sought by Prime Minister Shehbaz Sharif, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-01-09\/pakistan-seeks-8-billion-to-rebuild-after-devastating-floods?srnd=green&leadSource=uverify%20wall\">Bloomberg<\/a> notes, in what\u2019s being widely hailed as a rare example of donor pledges exceeding objectives.<\/p>\n<hr class=\"grey-line\" \/>\n<p><strong>WATCH THIS SPACE #1- Sustainability-linked bonds may bounce back to 2021 levels this year:<\/strong> Corporate bonds with a focus on advancing ESG objectives are set to grow by 30% y-o-y accounting for over USD 460 bn globally, Barclays said in a research note picked up by <a href=\"https:\/\/www.reuters.com\/business\/sustainable-business\/green-bonds-are-set-drive-corporate-esg-debt-out-slump-2023-barclays-2023-01-04\/\">Reuters<\/a>. ESG bonds raised USD 362 bn in 2022 \u2014 down from USD 461 bn \u2014 a 22% drop y-o-y driven by higher interest rates, the UK-headquartered bank said in the note. GCC green and sustainable bond and sukuk issuances saw <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/c04f04ba-c8db-4d74-95c8-ce792db263f7\">massive growth in volume<\/a> and value last year in spite of the global downturn, however, with some USD 8.5 bn raised from 15 issuances \u2014 a sizable increase from the USD 605 mn raised from six issuances in 2021.<\/p>\n<p><strong>But there is a caveat<\/strong><strong>:<\/strong> We\u2019ve <a href=\"https:\/\/climate.enterprise.press\/issues\/2022\/10\/10\/bill-gates-thinks-step-nuclear-ambitions\/#tldr-story-04\">mentioned previously<\/a> that a majority of sustainability-linked bonds currently on the market in Europe and the West are tied to weak, irrelevant or already-achieved climate targets, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-20\/the-booming-esg-bond-that-s-facing-growing-skepticism-quicktake?leadSource=uverify%20wall\">Bloomberg<\/a> analysis. If firms fail to meet the targets they set out for themselves, they repay the capital they amassed from investors with financial penalties on top meaning companies get cheaper financing and a green reputation without really holding up their end of the bargain.<\/p>\n<p><strong>WATCH THIS SPACE #2-<\/strong><strong> US-backed First Movers Coalition doubles number of <\/strong><strong>members in a year:<\/strong> The <a href=\"https:\/\/www.weforum.org\/first-movers-coalition\">First Movers Coalition (FMC)<\/a> \u2014 a global initiative launched at COP26 that aims to use company purchasing power to decarbonize seven \u201chard to abate\u201d industrial sectors \u2014 grew its number of corporate members to 67 from 34 in the space of a year and collectively made USD 12 bn worth of purchasing agreements, <a href=\"https:\/\/www.reuters.com\/business\/sustainable-business\/corporate-buyers-club-aiming-slash-climate-impact-heavy-industry-picks-up-steam-2023-01-04\/\">Reuters<\/a> recently noted US climate envoy John Kerry having announced at COP27. Purchasing agreements targeted sectors including steel, aluminum, shipping, trucking, and aviation, which currently account for some 30% of global emissions, the news outlet notes.<\/p>\n<p><a id=\"tldr-story-07\" class=\"content-anchor\"><\/a> <strong>WATCH THIS SPACE #3- <\/strong><strong>Sony and Honda are releasing a new EV: <\/strong>Sony and Honda\u2019s EV prototype <a href=\"https:\/\/www.shm-afeela.com\/en\/\">Afeela<\/a> was revealed in Las Vegas last week, according to a <a href=\"https:\/\/www.shm-afeela.com\/en\/news\/2023-01-04\/\">statement<\/a>. The vehicle will be outfitted with the Snapdragon Digital Chassis developed by <a href=\"https:\/\/www.qualcomm.com\/home\">Qualcomm Technologies<\/a> for software-based vehicles to have a more intelligent experience. The new vehicle is projected to hit the North American market by the beginning of 2026, <a href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/sonys-new-afeela-electric-vehicle-with-honda-use-qualcomm-tech-companies-say-2023-01-05\/\">Reuters<\/a> reports.<\/p>\n<hr class=\"grey-line\" \/>\n<p><strong>HAPPENING TODAY- Saudi Arabia is kicking off <\/strong><strong><a href=\"https:\/\/www.futuremineralsforum.com\/\">The Future Minerals Forum<\/a><\/strong> today at the King Abdul Aziz International Conference Center in Riyadh. 200 industry leaders and over 50 ministers will discuss decarbonizing mining projects globally and how to drive investments to the industry.<\/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>\n<p><strong>YOU\u2019RE READING ENTERPRISE CLIMATE, the essential MENA publication for senior execs who care about the world\u2019s most important industry. <\/strong>We\u2019re out Monday through Thursday at 4am Cairo \/ 5am Riyadh \/ 6am UAE.<\/p>\n<p>Were you forwarded this email? <strong>Get your own <\/strong><strong><a href=\"https:\/\/climate.enterprise.press\/subscribe\/\">subscription without charge 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>UAE renewable energy firm Masdar will host <\/strong><strong><a href=\"https:\/\/abudhabisustainabilityweek.com\/\">Abu Dhabi<\/a><\/strong><strong><a href=\"https:\/\/abudhabisustainabilityweek.com\/\">Sustainability Week<\/a><\/strong> from Saturday, 14 January to Saturday, 21 January. The event will gather eight presidents and prime ministers and 30k participants in a series of conferences and summits including the Atlantic Council\u2019s <a href=\"https:\/\/abudhabisustainabilityweek.com\/ADSW\/ADSW-Events\/Abu-Dhabi-Sustainable-Finance-Forum\">Global Energy Forum<\/a>, the <a href=\"https:\/\/abudhabisustainabilityweek.com\/ADSW\/ADSW-Events\/World-Future-Energy-Summit\">World Future Energy Summit<\/a>, Masdar\u2019s <a href=\"https:\/\/abudhabisustainabilityweek.com\/ADSW\/ADSW-Events\/Green-Hydrogen-Summit\">Green Hydrogen Summit<\/a>, The International Renewable Energy Agency\u2019s <a href=\"https:\/\/www.irena.org\/events\/2023\/Jan\/The-New-Generation-of-Decision-Makers-IRENA-Youth-Forum\">Youth Forum<\/a>, and the <a href=\"https:\/\/abudhabisustainabilityweek.com\/ADSW\/ADSW-Events\/Abu-Dhabi-Sustainable-Finance-Forum\">Abu Dhabi Sustainable Finance Forum<\/a>.<\/p>\n<p><strong>The UAE is hosting the Atlantic Council\u2019s <\/strong><strong><a href=\"https:\/\/www.atlanticcouncil.org\/programs\/global-energy-center\/global-energy-forum\/\">Global Energy Forum<\/a><\/strong> on Saturday, 14 January and Sunday, 15 January in Abu Dhabi. The forum will discuss the ongoing global energy crisis and its impact on the green transition, energy security, and decarbonization.<\/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>\n<hr class=\"grey-line\" \/>\n<p><strong><em>Editor's Note:\u00a0<\/em><\/strong><em>This story and the headline atop the day's issue were amended on 10 January 2023 to correct the name of the country in which Adnoc is headquartered. As the story below correctly notes, it is the UAE, not Saudi Arabia.\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning, wonderful people. The world has woken up from the lull of the past few weeks and we have a slew of regional updates for you. Let\u2019s dive right in. THE BIG CLIMATE STORY- The UAE's Adnoc and Morocco\u2019s OCP are investing USD bns in decarbonization efforts in the next few years, pivoting to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":75484,"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":[57,74,11,64,49,164,45,159,43],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-75483","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-climate-change","tag-decarbonization","tag-enterpriseclimate","tag-evs","tag-green-bonds","tag-green-finance","tag-morocco","tag-saudi-arabia","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"665ea4c4-4b54-4714-aaf1-cded2df4a5e5","order":"0","is_powered_by":true,"story_type":"4","photo_url":"https:\/\/ent.news\/2021\/6\/521.jpg","photo_position":"above","related_issue":[75481],"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: Adnoc and OCP earmark bns in a decarbonization push + Saudi Arabia on track to recycle 40k tons of e-waste by next year - 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\/2023\/01\/10\/today-adnoc-and-ocp-earmark-bns-in-a-decarbonization-push-saudi-arabia-on-track-to-recycle-40k-tons-of-e-waste-by-next-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TODAY: Adnoc and OCP earmark bns in a decarbonization push + Saudi Arabia on track to recycle 40k tons of e-waste by next year\" \/>\n<meta property=\"og:description\" content=\"Good morning, wonderful people. The world has woken up from the lull of the past few weeks and we have a slew of regional updates for you. Let\u2019s dive right in. THE BIG CLIMATE STORY- The UAE&#039;s Adnoc and Morocco\u2019s OCP are investing USD bns in decarbonization efforts in the next few years, pivoting to [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/climate\/2023\/01\/10\/today-adnoc-and-ocp-earmark-bns-in-a-decarbonization-push-saudi-arabia-on-track-to-recycle-40k-tons-of-e-waste-by-next-year\/\" \/>\n<meta property=\"og:site_name\" content=\"Climate\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-10T01:52:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/521.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/01\/10\/today-adnoc-and-ocp-earmark-bns-in-a-decarbonization-push-saudi-arabia-on-track-to-recycle-40k-tons-of-e-waste-by-next-year\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/01\/10\/today-adnoc-and-ocp-earmark-bns-in-a-decarbonization-push-saudi-arabia-on-track-to-recycle-40k-tons-of-e-waste-by-next-year\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"TODAY: Adnoc and OCP earmark bns in a decarbonization push + Saudi Arabia on track to recycle 40k tons of e-waste by next year\",\"datePublished\":\"2023-01-10T01:52:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/01\/10\/today-adnoc-and-ocp-earmark-bns-in-a-decarbonization-push-saudi-arabia-on-track-to-recycle-40k-tons-of-e-waste-by-next-year\/\"},\"wordCount\":987,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/01\/10\/today-adnoc-and-ocp-earmark-bns-in-a-decarbonization-push-saudi-arabia-on-track-to-recycle-40k-tons-of-e-waste-by-next-year\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/6\/521.jpg?fit=%2C&ssl=1\",\"keywords\":[\"climate change\",\"decarbonization\",\"EnterpriseClimate\",\"EVs\",\"green bonds\",\"green finance\",\"Morocco\",\"Saudi Arabia\",\"WHAT WE\u2019RE TRACKING TODAY\"],\"articleSection\":[\"WHAT WE\u2019RE TRACKING TODAY\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/01\/10\/today-adnoc-and-ocp-earmark-bns-in-a-decarbonization-push-saudi-arabia-on-track-to-recycle-40k-tons-of-e-waste-by-next-year\/\",\"url\":\"https:\/\/enterpriseam.com\/climate\/2023\/01\/10\/today-adnoc-and-ocp-earmark-bns-in-a-decarbonization-push-saudi-arabia-on-track-to-recycle-40k-tons-of-e-waste-by-next-year\/\",\"name\":\"TODAY: Adnoc and OCP earmark bns in a decarbonization push + Saudi Arabia on track to recycle 40k tons of e-waste by next year - 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Climate","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/climate\/2023\/01\/10\/today-adnoc-and-ocp-earmark-bns-in-a-decarbonization-push-saudi-arabia-on-track-to-recycle-40k-tons-of-e-waste-by-next-year\/","og_locale":"en_US","og_type":"article","og_title":"TODAY: Adnoc and OCP earmark bns in a decarbonization push + Saudi Arabia on track to recycle 40k tons of e-waste by next year","og_description":"Good morning, wonderful people. The world has woken up from the lull of the past few weeks and we have a slew of regional updates for you. Let\u2019s dive right in. THE BIG CLIMATE STORY- The UAE's Adnoc and Morocco\u2019s OCP are investing USD bns in decarbonization efforts in the next few years, pivoting to [&hellip;]","og_url":"https:\/\/enterpriseam.com\/climate\/2023\/01\/10\/today-adnoc-and-ocp-earmark-bns-in-a-decarbonization-push-saudi-arabia-on-track-to-recycle-40k-tons-of-e-waste-by-next-year\/","og_site_name":"Climate","article_published_time":"2023-01-10T01:52:04+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/521.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"5 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