{"id":77813,"date":"2023-06-05T01:00:10","date_gmt":"2023-06-05T01:00:10","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/06\/05\/a-green-suez-canal-by-2030-plus-ksas-rvcmc-set-to-host-the-worlds-largest-voluntary-carbon-credit-auction\/"},"modified":"2023-06-05T01:00:10","modified_gmt":"2023-06-05T01:00:10","slug":"a-green-suez-canal-by-2030-plus-ksas-rvcmc-set-to-host-the-worlds-largest-voluntary-carbon-credit-auction","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/06\/05\/a-green-suez-canal-by-2030-plus-ksas-rvcmc-set-to-host-the-worlds-largest-voluntary-carbon-credit-auction\/","title":{"rendered":"A green Suez Canal by 2030? PLUS: KSA\u2019s RVCMC set to host the world\u2019s largest voluntary carbon credit auction"},"content":{"rendered":"<p><strong>The Suez Canal will be a \u201cgreen canal\u201d by 2030<\/strong>, Suez Canal Authority (SCA) Chairman Osama Rabie said during a meeting with International Maritime Organization Secretary-General Kitack Lim on Thursday, according to a <a href=\"https:\/\/bit.ly\/3oJFFV4\">statement<\/a>. The SCA intends to power 16 monitoring stations using new and renewable energy and convert its fleet to operate on natural gas instead of gasoline and diesel, Rabie said.<\/p>\n<p><strong>KSA\u2019s RVCMC to hold world\u2019s largest voluntary carbon credit auction next week:<\/strong> The Regional Voluntary Carbon Market Company (RVCMC) \u2014 established by Saudi Arabia\u2019s sovereign wealth fund the Public Investment Fund and the Saudi Tadawul Group \u2014 will hold the world's largest voluntary carbon credit auction on Wednesday, 14 June in Nairobi, <a href=\"https:\/\/cnnbusinessarabic.com\/energy\/25828\/%D8%B4%D8%B1%D9%83%D8%A9-%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D8%B9%D9%82%D8%AF-%D8%A3%D9%83%D8%A8%D8%B1-%D9%85%D8%B2%D8%A7%D8%AF-%D9%84%D8%A8%D9%8A%D8%B9-%D8%A3%D8%B1%D8%B5%D8%AF%D8%A9-%D8%A7\">CNN<\/a> reported last week. The auction will offer over 2 mn tons of carbon credits to over 15 companies from various countries, including Saudi Arabia. Nairobi was selected to host the auction to signal the importance of bringing investments to emerging economies, according to the news outlet.<\/p>\n<p><strong>The company is beating its own record from last year: <\/strong>RVCMC launched its first auction last year \u2014 held in parallel to the company\u2019s <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/96ce0e75-0c9d-4f03-9e80-cc238211358c\">launch<\/a> \u2014 for the sale of <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f3bb1924-9dc1-4866-b00f-d3f50b07744c\">1.4 mn tons<\/a> of carbon credits, which at the time was billed as the world\u2019s largest credit auction.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>APM Terminals Bahrain<\/strong>, the operator of <strong>Khalifa bin Salman Port<\/strong>, will select a contractor for its <strong><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/949cf8d8-1031-40ad-be23-70089ada957a\">USD 10 mn<\/a><\/strong> <strong><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/949cf8d8-1031-40ad-be23-70089ada957a\">solar power plant<\/a><\/strong> at the port next month. (<a href=\"http:\/\/tradearabia.com\/news\/HEAL_410002.html\">TradeArabia<\/a>)<\/li>\n<li>UAE\u2019s <strong>Adnoc<\/strong> has signed agreements with over 60 local and global companies to localize critical non-oil products manufacturing and ramp up <strong>decarbonization<\/strong> efforts. (<a href=\"https:\/\/wam.ae\/en\/details\/1395303164003\">Wam<\/a>)<\/li>\n<li><strong>Azerbaijan<\/strong> has discussed new investment opportunities with the UAE\u2019s <strong>Adnoc<\/strong> and renewable energy giant <strong>Masdar<\/strong>. (<a href=\"https:\/\/twitter.com\/ParvizShahbazov\/status\/1664148511909195777\">Tweet<\/a>)<\/li>\n<li><strong>Egypt<\/strong> is in talks with multilateral lender <strong>New Development Bank<\/strong> to provide concessional loans to fund developmental projects in <strong>energy<\/strong>, <strong>transportation<\/strong> and <strong>green transition<\/strong>. (<a href=\"https:\/\/bit.ly\/3WGN1p1\">Finance Ministry Statement<\/a>)<\/li>\n<li><strong>Neom\u2019s <\/strong>water management and utility company <strong>Enowa<\/strong> has begun building <strong>conversion stations<\/strong> for the <strong>3 GW transmission system<\/strong> connecting the <strong>Oxagon<\/strong> to KSA\u2019s port city of <strong>Yanbu<\/strong>. (<a href=\"https:\/\/www.asharqbusiness.com\/article\/50808\/%D8%A8%D8%AF%D8%A1-%D8%AA%D9%86%D9%81%D9%8A%D8%B0-%D9%85%D8%B4%D8%B1%D9%88%D8%B9-%D9%85%D8%AD%D8%B7%D8%A7%D8%AA-%D8%AA%D8%AD%D9%88%D9%8A%D9%84-%D8%A7%D9%84%D9%86%D9%82%D9%84-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A6%D9%8A-%D9%81%D9%8A-%D9%86%D9%8A%D9%88%D9%85-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9\/\">Asharq Business<\/a>)<\/li>\n<li><strong>Algeria\u2019s <\/strong><strong><a href=\"https:\/\/sonatrach.com\/\">Sonatrach<\/a><\/strong> and Brazil\u2019s power manufacturing giant <a href=\"https:\/\/www.weg.net\/institutional\/BR\/en\/\">WEG<\/a> have signed an MoU to expand collaboration in <strong>energy and mining<\/strong>, focusing on wind power. (<a href=\"https:\/\/www.facebook.com\/energyalgeria2021\/posts\/pfbid0gdVN22LnnKagpn1fvpz3b6ogucgFksrXJk18EadqwUQa8r6MFwk3L6MSEfbZP5pcl\">Statement<\/a>)<\/li>\n<li><strong>Abu Dhabi\u2019s police<\/strong>, in partnership with<strong> Adnoc Distribution<\/strong>, have opened two new avenues for <strong>electric vehicle<\/strong> inspection in the emirate. (<a href=\"https:\/\/wam.ae\/ar\/details\/1395303164982\">Wam<\/a>)<\/li>\n<li>Several private and public institutions took part in the<strong> Saudi-Japanese minerals <\/strong><strong>and mining workshop<\/strong> in <strong>Tokyo<\/strong>. (<a href=\"https:\/\/sp.spa.gov.sa\/viewstory.php?lang=ar&newsid=2457985\">SPA<\/a>)<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The Suez Canal will be a \u201cgreen canal\u201d by 2030, Suez Canal Authority (SCA) Chairman Osama Rabie said during a meeting with International Maritime Organization Secretary-General Kitack Lim on Thursday, according to a statement. The SCA intends to power 16 monitoring stations using new and renewable energy and convert its fleet to operate on natural [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":77814,"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":[67],"tags":[80,66,98,11,1703,89,337,521,661],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-77813","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-adnoc","tag-also-on-our-radar","tag-carbon-markets","tag-enterpriseclimate","tag-hexagon","tag-neom","tag-sczone","tag-sonatrach","tag-suez-canal","wpautop","entry"],"acf":{"mongo_id":"a9b4faca-8df2-4bfd-9b44-34010fd6496a","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/3\/67.jpg","photo_position":"above","related_issue":[77785],"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>A green Suez Canal by 2030? 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