{"id":76241,"date":"2023-02-28T02:00:33","date_gmt":"2023-02-28T02:00:33","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/02\/28\/today-tadweer-signs-partnership-agreement-on-waste-management-with-frances-sulo\/"},"modified":"2023-02-28T02:00:33","modified_gmt":"2023-02-28T02:00:33","slug":"today-tadweer-signs-partnership-agreement-on-waste-management-with-frances-sulo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/02\/28\/today-tadweer-signs-partnership-agreement-on-waste-management-with-frances-sulo\/","title":{"rendered":"TODAY: Tadweer signs partnership agreement on waste management with France\u2019s Sulo"},"content":{"rendered":"

Good morning, lovely people<\/strong>, it\u2019s a light issue on the regional climate news front but there\u2019s quite a few international updates to catch up on. Let\u2019s dive in.<\/p>\n

THE BIG CLIMATE STORY- <\/strong>Regional news is at a standstill this morning, but one blip on the radar comes out of UAE where Abu Dhabi Waste Management Company (Tadweer) signed a partnership agreement with France\u2019s Sulo to establish an integrated waste management network in Abu Dhabi. We have all the details in the news well, below.<\/strong><\/p>\n

THE BIG CLIMATE STORY OUTSIDE THE REGION- Climate activist<\/strong> Greta Thunberg is <\/strong>making headlines again after blocking the doors to Norway\u2019s energy ministry<\/strong>, accusing the country of \u201cgreen colonialism\u201d over plans for a mega wind farm built on indigenous lands. Thunberg and dozens of climate activists from Norway\u2019s Sami community staged a protest in front of Norway\u2019s energy ministry in Oslo yesterday, demonstrating against plans to construct the 1 GW wind project<\/a>. (AFP<\/a> | Reuters<\/a> | Financial Times<\/a> | Washington Post<\/a>)<\/p>\n

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HAPPENING TODAY- <\/strong>The <\/strong>Sustainable Aviation Futures MENA Congress<\/a><\/strong> is taking<\/strong> place today in Dubai. <\/strong>The event will bring together some 40 speakers from a range of organizations including airlines, aviation authorities, clean energy startups and banks. Panels will discuss regional airline sustainability strategies, prospects for commercial collaboration, and aviation-focused decarbonization incentives.<\/p>\n

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<\/a> WATCH THIS SPACE #1: France is eyeing a pro-nuclear EU alliance: <\/strong>France will attempt to rally support for the inclusion of nuclear power as a low carbon energy source in EU policies in a meeting with 12 other EU countries today, ahead of further EU negotiations, Reuters<\/a> reports. The meeting will take place on the sidelines of an EU ministerial gathering in Stockholm, where French energy minister Agnes Pannier-Runache is set to make the case once again for nuclear energy to be counted towards the EU\u2019s energy security and clean power generational targets, the news outlet notes.<\/p>\n

EU countries remain divided on the role of nuclear energy:<\/strong> Debate over whether nuclear-derived hydrogen should be allowed to count towards the EU\u2019s renewable energy generation targets has delayed the finalizing of a text<\/a> outlining the EU\u2019s diplomatic priorities ahead of COP28 \u2014 which was supposed to be agreed on by member countries on last week.<\/p>\n

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<\/a> WATCH THIS SPACE #2- <\/strong> The EU is shifting its worries away from US <\/strong>climate subsidies\u2026:<\/strong> Recent assessments ranking EU incentives for clean energy production as equal to or even exceeding benefits from US President Joe Biden\u2019s Inflation Reduction Act (IRA)<\/a> are assuaging Europe\u2019s anger over the landmark climate bill \u2014 which has been the source of heated debate in recent months \u2014 Bloomberg<\/a> reported earlier this week. The IRA\u2019s offering of roughly USD 369 bn in subsidies for clean energy programs in the coming decade had prompted several EU leaders to accuse the US of trying to lure green investment away from Europe. The amount of funding for climate-friendly initiatives put forward by the EU \u201cis at least comparable to the amount of money that the Americans are putting on the table,\u201d EU climate policy chief Frans Timmermans said recently.<\/p>\n

\u2026and onto China:<\/strong> Heavy reliance in Europe on Chinese imports for renewables production \u2014 including solar panels and batteries \u2014 still leaves the bloc vulnerable, while the US is more likely to create its own domestic supply chain, Bloomberg quotes Bruegel think tank representative Alicia Garcia-Herrero as saying. Europe should look at closer collaboration with the US to help mitigate this risk, Garcia-Herrero added.<\/p>\n

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WATCH THIS SPACE #3- There\u2019s a new ESG bond in town, says the World Bank, and it\u2019s <\/strong>\u201cimmune\u201d to greenwashing:<\/strong> The World Bank has raised USD 50 mn through an outcome-based bond linked to voluntary carbon credits \u2014 a structure it terms \u201cimmune from any greenwashing concern,\u201d Bloomberg<\/a> reported last week. The five-year bond is set to offer a return some 100 bps above what a typical World Bank bond would offer, and will be used to fund a project to manufacture 300k water purifiers in Vietnam to reduce emissions associated with burning wood to boil (and purify) water.<\/p>\n

How does it work? <\/strong>Instead of regular coupon payments, investors will receive semi-annual coupons linked to verified carbon units generated through the project. \u201cWe\u2019re completely transparent where the foregone coupon is going, what the risk is and what the outcome measurement metric is,\u201d a World Bank representative said. Normal green bonds, on the other hand, would enable issuers to allocate proceeds to multiple projects.<\/p>\n

The new structure will help finance projects that wouldn\u2019t normally attract bond market <\/strong>funding<\/strong>, Bloomberg quotes a World Bank representative as saying, adding that large global asset managers are already showing interest in the new structure. The World Bank is already planning at least one other issuance of the same type this year \u2014 possibly of a larger size, Bloomberg added.<\/p>\n

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<\/a> THE DANGER ZONE- Falling wind speeds could require a rethink in <\/strong>renewables <\/strong>infrastructure strategy: <\/strong>Climate change could be causing a notable reduction in annual average wind speeds \u2014 which could be on track to fall by up to 10% by 2100, according to the Intergovernmental Panel on Climate Change, the Financial Times noted in a recent video (watch, runtime: 03:00<\/a>). This could prompt the need for a rethink of renewables infrastructure planning to prevent existing or planned wind power resources from becoming stranded assets.<\/p>\n

What\u2019s happening, in a nutshell? <\/strong>The larger the temperature difference between the poles and the tropics, the stronger the speed of global winds. The Arctic appears to have warmed faster than the rest of the world since 1979 \u2014 and as its temperature difference with the equator has narrowed, wind speeds have fallen, the FT notes. Proposed measures include increased investment in floating wind turbines \u2014 which can be anchored in deep sea waters, where wind is stronger.<\/p>\n

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