{"id":85406,"date":"2024-07-16T00:00:00","date_gmt":"2024-07-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/07\/16\/bahrain-taps-maersk-for-ship-recycling\/"},"modified":"2024-07-16T00:00:00","modified_gmt":"2024-07-16T00:00:00","slug":"bahrain-taps-maersk-for-ship-recycling","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/07\/16\/bahrain-taps-maersk-for-ship-recycling\/","title":{"rendered":"Bahrain taps Maersk for ship recycling"},"content":{"rendered":"

RECYCLING-<\/p>\n

Bahrain + Maersk to develop ship recycling industry: <\/strong>Bahrain\u2019s Transport and Telecommunications Ministry and Industry and Commerce Ministry signed an agreement with AP Moller-Maersk to develop and establish a ship recycling industry in the country, according to a statement<\/a>. As part of the agreement, Arab Shipbuilding and Repair Yard Company<\/a> will build docks and yards for larger ships with support from the ministries, Bahrain Steel<\/a> will process steel from the recycling process to sell in local and international markets, while Maersk will provide the ships for recycling as well as consulting services.<\/p>\n

\n

CARBON MARKET-<\/p>\n

KSA\u2019s milk producer<\/strong> Sawani to purchase carbon credits: <\/strong>Saudi camel milk company Sawani<\/a> \u2014 owned by the Public Investment Fund (PIF) \u2014 signed an agreement with the PIF and Tadawul-backed Regional Voluntary Carbon Market Company (RVCMC) to purchase 10k tons of carbon credits, according to a statement<\/a>. The two year partnership will see the company buy and sell its voluntary offsets with support and guidance from the carbon trading firm. <\/p>\n

REMEMBER- RVCMC\u2019s been active: <\/strong>The company recently signed a three-year agreement<\/a> with plastics manufacturer Saudi Top to trade carbon credits. The company also signed two MoUs with Kenya\u2019s main dry cell battery maker Eveready East Africa and Carbon Vista Nigeria to set up high-quality and impactful carbon projects in the two countries last year, and held a carbon credit auction in Nairobi which drew big demand from over a dozen firms who bid on an available 2 mn tons of carbon credits last year.<\/p>\n

\n

GREEN FINANCE- <\/p>\n

FAB <\/strong>is the region's most sustainable company:<\/strong> First Abu Dhabi Bank (FAB), the UAE\u2019s largest bank, has been recognized as the most sustainable company in the Middle East and Africa by Time magazine and data firm Statista<\/a>, according to a statement<\/a>. FAB is the highest-ranked company from the region in Time\u2019s inaugural World\u2019s 500 Most Sustainable Companies list<\/a>, which evaluated over 5k companies globally. The bank \u2014 the first globally to join the COP28 Net-Zero Transition Charter<\/a> \u2014 pledged to lend, invest, and facilitate over AED 500 bn (USD 135 bn)<\/a> in sustainable and green financing by 2030 during COP28.<\/p>\n","protected":false},"excerpt":{"rendered":"

PLUS: Saudi camel milk producer Sawani is purchasing carbon credits<\/p>\n","protected":false},"author":1,"featured_media":85407,"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":[66,82,11,458],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-85406","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-bahrain","tag-enterpriseclimate","tag-maersk","wpautop","entry"],"acf":{"mongo_id":"7dfc9f95-1a6e-405b-b9a0-260e0ab56fca","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/1219.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Bahrain taps Maersk for ship recycling","related_issue":[85396],"teaser":"PLUS: Saudi camel milk producer Sawani is purchasing carbon credits","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.245114c5-851c-45cb-959a-2c51b382db14.mp3"},"yoast_head":"\nBahrain taps Maersk for ship recycling - 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