{"id":88925,"date":"2024-12-30T00:00:00","date_gmt":"2024-12-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/12\/30\/today-abu-dhabi-puts-a-domestic-carbon-pricing-scheme-in-motion\/"},"modified":"2024-12-30T00:00:00","modified_gmt":"2024-12-30T00:00:00","slug":"today-abu-dhabi-puts-a-domestic-carbon-pricing-scheme-in-motion","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/12\/30\/today-abu-dhabi-puts-a-domestic-carbon-pricing-scheme-in-motion\/","title":{"rendered":"TODAY: Abu Dhabi puts a domestic carbon pricing scheme in motion"},"content":{"rendered":"

Good morning, friends. <\/strong>It\u2019s a light news day as the year comes to a close, but we have fresh news on Abu Dhabi\u2019s new carbon reporting and pricing mechanism and some updates on Algeria\u2019s renewables push. But first, another worrying (yet unsurprising) report on climate change-driven heating...<\/p>\n

THE BIG CLIMATE STORY OUTSIDE THE REGION- The world was exposed to an extra 41 <\/strong>days of dangerous and potentially fatal heat in 2024 due to climate change<\/strong>, according to analysis (pdf)<\/a> by the World Weather Attribution (WWA) and Climate Central. Poorer developing states and nation islands reportedly experienced the highest number of additional days of dangerous heat. For example, the Caribbean and Pacific islands felt the strongest effect, with nearly 150 additional days of harmful heat. Saudi Arabia also saw 70 additional hot days. Developed countries \u2014 including the UK, the US, and Australia \u2014 were also impacted, but they were the least affected, experiencing at least an extra three weeks of dangerous heat. <\/p>\n

Heatwaves are the deadliest of extreme events: <\/strong>The researchers behind the study called their data on deaths from heatwaves a \u201cvery gross underestimate\u201d because of the likelihood of underreporting deaths due to insufficient monitoring. \u201cIt\u2019s much harder to raise awareness that heatwaves are by far the deadliest extreme events, and they are the extreme events where climate change is a real game-changer,\u201d report co-lead Friederike Otto said. <\/p>\n

The story made headlines in the international press:<\/strong> The Guardian<\/a> | CBS<\/a> | BBC<\/a> | AP<\/a> <\/p>\n

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WATCH THIS SPACE-<\/p>\n

<\/a> #1- Saudi Aramco is in talks to secure long-term purchase agreements for blue<\/strong> hydrogen<\/strong>, which the company views as a key component of its clean energy strategy, Aleqtisadiah<\/a> reports, citing an unnamed company source. The oil giant has already made strides in blue hydrogen, having finalized agreements in July<\/a> to acquire a 50% stake in Blue Hydrogen Industrial Gases Company, a Jubail-based unit of Air Products Qudra.<\/p>\n

IN CONTEXT- <\/strong>The Kingdom is looking to establish a global presence in blue hydrogen production, following the launch of the green hydrogen production strategy in 2020. It aims to eventually supply 15% of the world\u2019s blue hydrogen production, PIF Governor and Aramco Chairman Yasir Al Rumayyan said in February<\/a>. <\/p>\n

#2- <\/strong>Egypt prepares to submit its first climate transparency report:<\/strong> Egypt is set to submit its first biennial transparency report<\/a> (1BTR) to the United Nations Framework Convention on Climate Change (UNFCCC) in the next few days before the year-end deadline, according to a statement<\/a> released on Saturday. The report \u2014 led by Egypt\u2019s Ministry of Environment and in collaboration with the UN Development Programme \u2014 highlights the country\u2019s efforts in tracking greenhouse gas emissions and evaluating progress on its climate efforts. It includes data from various ministries and agencies, and it covers the country\u2019s adaptation strategies and estimating the financial support needed for climate action. <\/p>\n

REMEMBER- <\/strong> Around 11 countries submitted<\/a> the first BTRs as of last month, marking the full operationalization of the enhanced transparency framework under the Paris Agreement. Activating the transparency reports mechanism has been a key item in the agendas of COP28 and COP29. <\/p>\n

<\/a> #3- Algeria plans 1 GW wind power projects:<\/strong> Algeria is planning 1 GW wind power projects across 10 sites, following studies backed by the World Bank that show strong potential for wind energy, AL24 News<\/a> reported on Thursday, citing remarks made by the country\u2019s renewable energy chief Nouredine Yassaa during the second international workshop on renewable energy in Algiers. <\/p>\n

There is more: <\/strong>The country is planning a 200 MW solar project in Tindouf province, which is set to power regional electricity needs, as well as Gara Djebilet\u2019s iron mining projects. The country's south is also slated to have new hybrid power plants that mix solar and diesel power. <\/p>\n

Part of a larger push: <\/strong>Algerian aims to reach 15 GW of renewable energy by 2035, Yassaa said. Around 3 GW of solar developments have already been commissioned through 20 projects across the country, he added. <\/p>\n

<\/a> #4- Morocco is upping its dependence on wheat imports as a <\/strong>seven-year-long drought crisis deepens the kingdom\u2019s food security struggles<\/strong>, Morocco World News<\/a> reported on Thursday. Russia is reportedly picking up the country\u2019s demand for wheat imports, which increased 86% y-o-y in November. Morocco\u2019s wheat harvest is expected to drop to 2.47 mn tons this year from 3.4 mn tons recorded in 2023 \u2014 its lowest since 2008, the news outlet writes. The figures are a steep decline from the 6.1 mn tons of wheat harvested in 2022. <\/p>\n

REMEMBER- Morocco is under major water stress:<\/strong> Morocco is facing a prolonged water<\/a>crisis<\/a> that saw the country reach the absolute water scarcity threshold of 500 cbm per capita last year. Reserves\u2019 filling rates also dropped<\/a> to 27.9% last year. The water shortage crisis is set to have major impacts on the country\u2019s economy, with a World Bank report estimating that Morocco's GDP losses due to different drought scenarios could range from 1.8 to 3.5 percentage points. <\/p>\n

The country is actively addressing the crisis:<\/strong> Morocco's government has implemented a national water management strategy focusing on water conservation and source diversification to address the shortage, installing water meters to prevent unauthorized water usage and expanding its desal capacity. It currently has 12 desal plants with 169.3 mn cbm capacity and plans to add seven more plants by 2027, Morocco World News reported. Last June, Morocco began constructing a USD 650 mn renewables-powered plant<\/a> with a planned capacity of 300 mn cbm of water for drinking and irrigation. <\/p>\n

#5- Yamama advances plans to establish minerals holding company: <\/strong> KSA\u2019s Yamama<\/a>Cement Company<\/a> signed a planned non-binding MoU with Obeikan Investment Group<\/a> and Sultan Holding<\/a> to establish a holding company focused on investing in Saudi Arabia\u2019s minerals industry, according to a disclosure<\/a> released on Thursday. The new company will target the production of minerals such as lithium, graphite, and silica.<\/p>\n

We knew this was coming:<\/strong> Yamama said<\/a> it would sign the non-binding MoU to explore the joint minerals venture last week. The exploratory MoU will expire on 30 June 2025, meaning that the companies will likely have to reach a decision on whether to move on with the project or not by mid-2025. <\/p>\n

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

The UAE will host the <\/strong>World Energy Summit<\/a><\/strong> from Tuesday, 14 January to Thursday, 16 <\/strong>January<\/strong> in Abu Dhabi. The summit will host over 350 speakers including energy industry leaders and policymakers with discussions ranging from eco-waste to sustainable cities. An exhibition will also be held for showcasing green products.<\/p>\n

Saudi Arabia will host the <\/strong>Future Minerals Forum<\/a><\/strong> from Tuesday, 14 January to Thursday, <\/strong>16 January<\/strong> in Riyadh. The forum will gather stakeholders from over 170 countries to discuss mineral technology and exploration. Speakers will include senior government officials and CEOs from renowned mining companies Vale, Rio Tinto, and Manara.<\/p>\n

Bahrain will host the <\/strong>Sustainability Forum Middle East<\/a><\/strong> from Tuesday, 28 January to <\/strong>Wednesday, 29 January<\/strong> in Manama. Climate experts and decision-makers will convene to discuss a number of issues ranging from decarbonization to supporting SMEs on their path to net zero. Speakers will include GCC government officials and industry leaders from the banking and industrial sectors.<\/p>\n

Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n","protected":false},"excerpt":{"rendered":"

What we\u2019re tracking this morning regionally and around the world<\/p>\n","protected":false},"author":1,"featured_media":88926,"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":[41,107,11,39,45,88,159,43,46],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88925","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-algeria","tag-critical-minerals","tag-enterpriseclimate","tag-green-hydrogen","tag-morocco","tag-renewables","tag-saudi-arabia","tag-what-were-tracking-today","tag-wind-energy","wpautop","entry"],"acf":{"mongo_id":"bad9e5c2-3e9f-4444-b222-4996912672d7","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/12\/2526.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TODAY: Abu Dhabi puts a domestic carbon pricing scheme in motion","related_issue":[88923],"teaser":"What we\u2019re tracking this morning regionally and around the world","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.a6c40644-9ed1-47c7-9a00-6a8797e7581f.mp3"},"yoast_head":"\nTODAY: Abu Dhabi puts a domestic carbon pricing scheme in motion - 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