{"id":78267,"date":"2023-07-05T01:00:39","date_gmt":"2023-07-05T01:00:39","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/07\/05\/today-the-uae-greenlights-national-strategies-on-renewables-hydrogen-and-evs\/"},"modified":"2023-07-05T01:00:39","modified_gmt":"2023-07-05T01:00:39","slug":"today-the-uae-greenlights-national-strategies-on-renewables-hydrogen-and-evs","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/07\/05\/today-the-uae-greenlights-national-strategies-on-renewables-hydrogen-and-evs\/","title":{"rendered":"TODAY: The UAE greenlights national strategies on renewables, hydrogen and EVs"},"content":{"rendered":"

Good morning, friends. <\/strong>It\u2019s another busy morning in the region with lots of big news emerging from the UAE. Let\u2019s dive right in.<\/p>\n

THE BIG CLIMATE STORY-<\/strong> The UAE government has approved its updated National Energy Strategy to increase the country\u2019s 2030 renewable capacity goal to 14 GW from 9.2 GW, tripling the currently installed renewable energy capacity. The Emirates also stamped approvals on the country\u2019s hydrogen and electric vehicles strategies.<\/p>\n

^^ We have the details on this story and much more in the news well, below. <\/strong><\/p>\n

THE BIG CLIMATE STORY OUTSIDE THE REGION-<\/strong> Japan\u2019s plan to discharge treated radioactive water from the tsunami-hit Fukushima into the ocean has earned the International Atomic Energy Agency\u2019s (IAEA) approval despite fierce opposition by neighboring countries like China and the public over the move\u2019s environmental impact. The UN watchdog determined that the plan for \u201ccontrolled, gradual discharges of the treated water\u201d into the Pacific Ocean \u201cwould have a negligible radiological impact on people and the environment.\u201d The approval by the IAEA comes following a two-year review as Japan sought to ensure that the process is safe as it has conducted a treatment of the water, which is enough to fill 500 Olympic-sized swimming pools. Most radioactive elements in the water have been filtered except for tritium, with Japan stressing that the treated water would be diluted to well below internationally approved levels of the hydrogen isotope before its release into the ocean.<\/p>\n

The dump just isn\u2019t sinking in for some: <\/strong>China is one of the main vocal opponents of the plan, arguing that the move would threaten marine environment and public health. Yesterday, China\u2019s Foreign Ministry described the plan as \u201crisky, immoral and illegal.\u201d The proposal is also receiving opposition at home, with Japanese fishing unions saying that it would harm reputations of the country\u2019s fishing industry. Such concerns have led South Koreans to stock up on salt before the release of the treated water with authorities banning seafood from the waters near Fukushima.<\/p>\n

The story is grabbing headlines in the international press<\/strong>: Bloomberg<\/a> | Reuters<\/a> | BBC<\/a> | The Guardian<\/a> | The Financial Times<\/a> | The Associated Press<\/a> | The Washington Post<\/a> | The New York Times<\/a> | The Wall Street Journal<\/a><\/p>\n

enterprise<\/p>\n

MARK YOUR CALENDARS- The Enterprise Finance Forum is taking place on 18-19 September at the St. Regis Hotel in Cairo. <\/strong>This flagship forum is the latest in our must-attend series of invitation-only, C-suite-level gatherings that allow senior members of our community to openly and frankly discuss critical issues in key sectors of the economy.<\/p>\n

Day one is our Banking Forum<\/strong>, where we\u2019ll dive deep into topics of interest to commercial and investment bankers, from an outlook on the 12 months to come in M&A, IPO, and debt capital markets to the national, regional, and global trends that are (re)shaping our industry.<\/p>\n

Day two is all about Fintech and Non-Banking Financial Services. <\/strong>We\u2019ll take a deep dive into everything from the magic of client acquisition to the prospects of consolidation and the coming of challenger banks.<\/p>\n

** NEW: MORE NETWORKING TIME- <\/strong>Our agenda includes expanded networking time, including an expanded coffee break and a post-event networking room for you to interact with your peers and speak one-on-one with the team at Enterprise.<\/p>\n

TAP OR CLICK HERE<\/a><\/strong> if you want to express interest in attending. <\/strong>We\u2019ll be sending out the first batch of invitations just after the 30 June holiday.<\/p>\n

Do you want to become a commercial partner?<\/strong> Please click here<\/a>.<\/p>\n

STAY TUNED for more detail <\/strong>about our agenda in the weeks to come.<\/p>\n

MISSED THE ENTERPRISE EXPORTS AND FDI FORUM? Tune in to the Enterprise Podcast to hear what went down:<\/strong> The Enterprise Podcast is back with another installment of our forum series, where we bring you audio recordings of what was said on stage at the Enterprise Exports and FDI Forum, which took place last May.<\/p>\n

IN THIS WEEK\u2019S EPISODE- <\/strong>We looked at how Egyptian companies can identify and pitch foreign partners and how they can identify them. We asked how do companies figure out what they\u2019re looking for \u2014\u202fand whether that dovetails with what they want or need. We were joined on that panel by Hossam Abou Moussa<\/strong>, partner at PE firm Apis, Cheick-Oumar Sylla<\/strong>, director for North Africa and Horn of Africa at the International Finance Corporation, and Hassan Massoud<\/strong>, associate director and head of private equity (Southern Mediterranean) at the European Bank for Reconstruction and Development.<\/p>\n

Expect us to drop an episode every Sunday morning.<\/strong> You can listen to the Enterprise Podcast where ever you get your podcasts including: Apple Podcast<\/a> | Spotify<\/a> | Google Podcast<\/a> | Anghami<\/a>.<\/p>\n

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<\/a> WATCH THIS SPACE #1-<\/strong> Israel is planning to build an underwater electric cable to line up <\/strong>exports of solar energy to Cyprus and Greece<\/strong>, Reuters<\/a> reports. An underwater 150 km transmission cable across the Mediterranean will link Europe\u2019s electricity grid with the Negev solar farm<\/a>. The project is part of a broader plan to link Israel\u2019s electricity grid with Egypt, Jordan, and the Gulf\u2019s, Energy Minister Israel Katz said, according to the newswire.<\/p>\n

REMEMBER- Subsea cables, they\u2019re so in right now: <\/strong>The World Bank Group signed off on a USD 268.4 mn loan last month<\/a> to help Tunisia finance its planned electrical interconnection project with Italy. The EUR 850 mn, 600 MW subsea interconnector project will link Tunisian and EU power grids, enabling the trade in renewable energy between Tunisia and Europe.<\/p>\n

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WATCH THIS SPACE #2- An exit clause in ESG-linked bonds is ringing alarm <\/strong>bells: <\/strong>Issuers of the USD 6.4 tn ESG debt market are establishing clauses that would allow them to dodge financial penalties, Bloomberg<\/a> reported earlier this week, citing BloombergNEF analysis. A quarter of sustainability-linked bonds (SLBs) can be redeemed before any penalty is imposed, allowing issuers an \u201cexit route if it expects to miss its target.\u201d The study also found other flaws such as clauses that allow companies to adjust their ESG targets after the bond has been issued.<\/p>\n

Once bitten, twice shy? <\/strong>The study comes as investors steer away from the SLBs market, with the market seeing a downturn after almost a tenfold increase in sales between 2020 and 2021. Between the start of the year and May, sales of SLB were down by c. 28% y-o-y, according to Bloomberg Intelligence data. SLBs are \u201criddled with exit clauses, toothless terms and conditions, vague timelines and opaque targets \u2014 all designed to protect issuers,\u201d said Maia Godemer, a sustainable finance analyst at BNEF, \u201cbut correcting course could unlock tns of USD of investment, shepherding decarbonization in ways no other financial instrument can.\u201d<\/p>\n

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ENTERPRISE IS LOOKING<\/strong> FOR SMART, TALENTED PEOPLE of all backgrounds to help us build some very cool new things.<\/strong> Enterprise \u2014 the essential morning read on all the important news shaping business and the economy in Egypt and the region \u2014 is looking for writers, reporters and editors to help us build out new publications. Today, we run four daily Egypt and MENA-focused publications, five weekly industry verticals, and a weekend lifestyle edition designed to make our readers feel just a bit smarter.<\/p>\n

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That said, we're looking for gifted story-tellers from all walks of life and across all professions<\/strong>, as long as they show a keen interest in learning to write about the stories, topics, businesses, and figures moving markets. Egyptian and foreign nationals alike are welcome to apply. So are job-switchers: If you\u2019re an equities analyst tired of the rat race, we\u2019re a great place to come work.<\/p>\n

NEVER WORKED IN A NEWSROOM BEFORE?<\/strong> We have the Enterprise Business Writing Development Program. Whether you are a recent graduate, an industry vet, or looking to switch careers, the Enterprise Business Writing Development Program will give you the tools you need to tell the most important stories to our audience of C-suite officials, government ministers, diplomats, financiers, investors and entrepreneurs.<\/p>\n

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