{"id":76069,"date":"2023-02-16T01:35:52","date_gmt":"2023-02-16T01:35:52","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/02\/16\/today-jera-wants-to-explore-mena-decarbonization-projects-with-taqa\/"},"modified":"2023-02-16T01:35:52","modified_gmt":"2023-02-16T01:35:52","slug":"today-jera-wants-to-explore-mena-decarbonization-projects-with-taqa","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/02\/16\/today-jera-wants-to-explore-mena-decarbonization-projects-with-taqa\/","title":{"rendered":"TODAY: Jera wants to explore MENA decarbonization projects with Taqa"},"content":{"rendered":"

Good morning, friends.<\/strong> We\u2019re closing out the week strong with a hefty issue covering some new renewables agreements and earnings reports from key regional players. Let\u2019s roll.<\/p>\n

THE BIG CLIMATE STORY- <\/strong>Japanese power generation company Jera has inked an agreement with Taqa to jointly explore the feasibility of decarbonization projects in MENA, while UAE-headquartered Brooge Energy signed an agreement with Siemens Energy to build a green hydrogen facility in Abu Dhabi.<\/p>\n

^^We have chapter and verse on these stories and more in the news well below.<\/strong><\/p>\n

THE BIG CLIMATE STORY OUTSIDE THE REGION-<\/strong><\/p>\n

We knew Antarctica\u2019s \u201cDoomsday Glacier\u201d was melting. We\u2019ve just learned that warm<\/strong> water entering its weaker parts is speeding the process up.<\/strong> The climate change-induced melting of Antarctica\u2019s Thwaites Glacier, the so-called Doomsday Glacier, is being accelerated by warmer water seeping into the glacier\u2019s weak spots, according to studies published yesterday in the journal Nature. Research started in 2019 saw US and British scientists send an underwater robot down a 600-meter hole made in Thwaites, allowing them to study the glacier from previously inaccessible places. They used sensors to collect data from key areas \u2014 including where the glacier\u2019s ice meets the ocean \u2014 ultimately discovering that warmer water was flowing into the structure\u2019s crevasses and exacerbating the instability caused by already-warming temperatures.<\/p>\n

What could this mean? Irreversible collapse and huge sea level rise:<\/strong> The total collapse of Thwaites \u2014 which spans an area roughly the size of Florida \u2014 could cause a sea level rise of half a meter, which would have devastating consequences for the world\u2019s coastal areas and potentially cause<\/a> mass migration. But because Thwaites is essentially a stabilizing force for nearby glaciers, its collapse could also trigger a further three meter rise in global sea levels, the research found.<\/p>\n

The story is attracting widespread coverage:<\/strong> Guardian<\/a> | New York Times<\/a> | NBC<\/a> | CNN<\/a> | AP<\/a> | BBC<\/a> | Reuters<\/a><\/p>\n

\n

IN COP LAND- COP28 needs to deliver on action, USD and an inclusive energy <\/strong>transition, say key stakeholders: <\/strong>COP28 President Sultan Al Jaber plans to \u201clay out a roadmap for COP28 that is inclusive, results-oriented and far from business as usual,\u201d he said at the World Government Summit (WGS)<\/a>, which ran from Monday-Wednesday in Dubai, Reuters<\/a> reported. Al Jaber called for \u201ca major course correction\u201d to slash emissions and keep the Paris Agreement<\/a> goal of limiting the global temperature increase to 1.5\u00b0C within sight. \u201cKeeping 1.5 alive is a top priority and it will cut across everything I do,\u201d Al Jaber separately told Reuters<\/a> in an interview.<\/p>\n

As expected, climate finance is on everyone\u2019s mind:<\/strong> COP28 should offer the chance \u201cto zero in on what has been an elusive target,\u201d noted IMF Managing Director Kristalina Georgieva in an interview with the National<\/a> on the sidelines of the WGS. This includes the need to provide climate finance to emerging markets and developing countries, she added. Capital is essential to make the loss and damage fund<\/a> \u2014 agreed upon at COP27 \u2014 \u201creal and operational,\u201d noted Al Jaber. Though the agreement to establish the fund was a big W, many details still need to be ironed out before it gets off the ground, we noted<\/a> last month.<\/p>\n

The role of DFIs remains under the microscope: <\/strong>Among COP28\u2019s key aims is determining how to raise funds to address the region\u2019s climate change-induced challenges \u2014 including desertification, coastal erosion, and air pollution, World Bank Vice President for MENA Ferid Belhaj told Wam<\/a> on the sidelines of WGS. But \u201creal reform\u201d of multilateral banks and international financial institutions is needed to spur concessional financing, reduce risk, and draw more funds from the private sector, said Al Jaber. This echoes key messages<\/a> from COP27, but could also reignite last year\u2019s debate<\/a> around DFI reform that centered particularly on the World Bank.<\/p>\n

\n

WATCH THIS SPACE- The European Parliament has approved a law to ban the <\/strong>sale of carbon-emitting petrol and diesel vehicles by 2035<\/strong>, France 24<\/a> reports. The law \u2014 passed in October<\/a> \u2014 will allow carmakers to adapt their plants to EV production during the interval before it is enforced. EVs make up only 12% of new cars being sold in Europe, the outlet reports. While some dubbed the law \u201ca historic vote for the ecological transition,\u201d conservative MPs objected to the bill pointing to concerns about the 600k individuals whose employment is at risk in Germany alone if carbon-emitting petrol and diesel cars are phased out.<\/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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\n 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

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 read on business, finance, policy and economy in Egypt and emerging markets.<\/p>\n

Subscribe to Enterprise Climate here<\/a><\/strong> or reach out to us on climate@enterprisemea.com<\/a> with comments, suggestions and story tips.
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CLIMATE DIPLOMACY- Libya explores renewables agreements:<\/strong> French ambassador to Libya Mostafa Mihrajeon met with Chairman of Libya\u2019s National Oil Corporation<\/a> Ferhat Bengdara to discuss bilateral cooperation on renewables and oil, according to a tweet<\/a> from Mihrajeon. Details of which projects are being targeted by France were not disclosed.<\/p>\n

Background:<\/strong> Libya established the Renewable Energy Authority of Libya (REAoL) in 2007 with a target to generate 10% of its energy needs from renewables by 2020, with the bulk of its energy requirements coming from wind. REAoL\u2019s Tawergha solar project was handed over to a consortium<\/a> of Germany\u2019s GTG Holding Company<\/a> and the Fraunhofer Institute for Solar Energy Systems<\/a> earlier this month. The project will have an installed peak capacity of 1 MW and acts as a pilot project for future developments.<\/p>\n

Israel, Egypt strengthen ties on energy: <\/strong>Egyptian Minister of Electricity and Renewable Energy Mohamed Shaker and Israeli Minister of Energy Israel Katz discussed investments in renewable energy and regional connectivity in Cairo, according to a tweet<\/a> by Katz earlier this week.<\/p>\n

\n

COME TO OUR NEXT ENTERPRISE FORUM- <\/strong><\/p>\n

enterprise<\/p>\n

We\u2019re excited to unveil our next C-level event in Cairo: <\/strong>The Enterprise Exports & FDI Forum, where we will take a deep dive into two of the most critical topics affecting our community.<\/p>\n

Interested to learn more about how Egypt is planning on drumming up foreign direct investment (FDI) for all these green hydrogen, solar and wind agreements? <\/strong>Exports and FDI have never been more important to Egypt\u2019s economy \u2014 or its businesses \u2014 than in the wake of the float of the EGP and the country\u2019s positioning as a regional renewable energy hub. We think there\u2019s a unique chance to build an export-led economy<\/a> that makes Egypt a magnet for FDI and all the benefits that will come with it.<\/p>\n

Want to join the conversation?<\/strong> Drop us a line on events@enterprisemea.com<\/a>.<\/p>\n

\n

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

The UAE will host the <\/strong>World Environment, Social and Governance Summit<\/a><\/strong> from next Tuesday, <\/strong>21 February to Thursday, 23 February <\/strong>in Dubai. The summit will host discussions on reducing carbon emissions and the urgency to incorporate ESG. Stakeholders from various fields will address the financial and strategic implementation of ESG.<\/p>\n

Egypt will host the <\/strong>CSR Forum<\/a><\/strong> from 2-5 March<\/strong> at Somabay, Hurghada. The event aims to further discussions put forth during COP27 and boost private and public sector cooperation on climate action. You can register for the event here<\/a><\/strong>.<\/p>\n

The <\/strong>Arabia CSR Awards<\/a><\/strong> is accepting applications until Friday, 30 June.<\/strong> The awardwinners will be announced during a ceremony on Wednesday, 4 October.<\/p>\n

The first <\/strong>MENA Solar Conference<\/a><\/strong> is accepting applications from published<\/strong> researchers specialized in PV technology until Sunday, 30 April.<\/strong> The Dubai Electricity and Water Authority will be hosting the conference from 15 to 18 November, in conjunction with the Water, Energy, Technology, and Environment Exhibition and the Dubai Solar Show 2023. Researchers can submit their papers here<\/a>.<\/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\u2019re closing out the week strong with a hefty issue covering some new renewables agreements and earnings reports from key regional players. Let\u2019s roll. THE BIG CLIMATE STORY- Japanese power generation company Jera has inked an agreement with Taqa to jointly explore the feasibility of decarbonization projects in MENA, while UAE-headquartered Brooge […]<\/p>\n","protected":false},"author":1,"featured_media":76070,"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":[40,11,173,64,1121,242,88,43],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-76069","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-egypt","tag-enterpriseclimate","tag-eu","tag-evs","tag-israel","tag-libya","tag-renewables","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"5e401e87-4dde-414e-9c6c-208ebba5a1d2","order":"0","is_powered_by":true,"story_type":"4","photo_url":"https:\/\/ent.news\/2023\/2\/687.jpg","photo_position":"above","related_issue":[76067],"teaser":"","voice_url":""},"yoast_head":"\nTODAY: Jera wants to explore MENA decarbonization projects with Taqa - 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\/02\/16\/today-jera-wants-to-explore-mena-decarbonization-projects-with-taqa\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TODAY: Jera wants to explore MENA decarbonization projects with Taqa\" \/>\n<meta property=\"og:description\" content=\"Good morning, friends. 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We\u2019re closing out the week strong with a hefty issue covering some new renewables agreements and earnings reports from key regional players. Let\u2019s roll. 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