{"id":87244,"date":"2023-12-07T00:00:00","date_gmt":"2023-12-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/dp-world-inks-mou-at-cop28-to-trial-green-shipping-solutions\/"},"modified":"2023-12-07T00:00:00","modified_gmt":"2023-12-07T00:00:00","slug":"dp-world-inks-mou-at-cop28-to-trial-green-shipping-solutions","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2023\/12\/07\/dp-world-inks-mou-at-cop28-to-trial-green-shipping-solutions\/","title":{"rendered":"DP World inks MoU at COP28 to trial green shipping solutions"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>DP World + Pacific Lines ink MoU for green solutions:<\/strong> Logistics giant <a target=\"_blank\" href=\"https:\/\/www.dpworld.com\/\" style=\"\" rel=\"noopener\">DP World<\/a> inked an MoU at COP28 with Singapore-based shipping company <a target=\"_blank\" href=\"https:\/\/www.pilship.com\/en-pil-pacific-international-lines\/1.html\" style=\"\" rel=\"noopener\">Pacific International Lines<\/a> (PIL) to develop green solutions for global supply chains, according to a <a target=\"_blank\" href=\"https:\/\/mediaoffice.ae\/en\/news\/2023\/December\/06-12\/Pacific-International-Lines-and-DP-World-Sign-MOU\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Details:<\/strong> The two companies will run trial shipments between Jebel Ali Port in Dubai and destinations within PIL\u2019s network, with initiatives to reduce the shipments\u2019 greenhouse gas footprints, including powering vessels using a biofuel blend as well as deploying container handling equipment that runs on renewable energy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In the long term:<\/strong> DP World aims to expand the initiative to include other ports within its global network. PIL is also looking at alternative fuel options, including e-LNG, green methanol and green ammonia for its vessel operations and bunkering. Both companie are aiming to <a target=\"_blank\" href=\"https:\/\/www.pilship.com\/--\/132.html?n=419\" style=\"\" rel=\"noopener\">slash their carbon emissions to zero<\/a> by 2050. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN OTHER DP WORLD NEWS- <\/strong>DP World has joined the <a target=\"_blank\" href=\"https:\/\/www.itf-oecd.org\" style=\"\" rel=\"noopener\">International Transport Forum<\/a> \u2019s Corporate Partnership Board in efforts to promote sustainable, innovative, and responsible business practices in the global transportation industry, according to a <a target=\"_blank\" href=\"https:\/\/twitter.com\/DP_World\/status\/1732393183298875498\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>METITO LANDS MOROCCO PROJECTS<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Metito + Tahliya will develop two desalination projects in Morocco:<\/strong><a target=\"_blank\" href=\"https:\/\/tahliyagroup.com\/\" style=\"\" rel=\"noopener\">Tahliya Group<\/a> and <a target=\"_blank\" href=\"https:\/\/www.metito.com\/\" style=\"\" rel=\"noopener\">Metito Utilities<\/a> have signed an agreement to develop two renewable energy powered desalination plants in Morocco, <a target=\"_blank\" href=\"https:\/\/www.tradearabia.com\/touch\/article\/CONS\/416497\" style=\"\" rel=\"noopener\">Trade Arabia<\/a> reports. Desalinated water from the plants will be used in a multi-user irrigation system for farming. Metito will explore mobilizing pockets of capital to fund the project, including its <a target=\"_blank\" href=\"https:\/\/climate.enterprise.news\/news\/story?storyId=a5ad8d18-d6bc-4acf-8072-92425e620d5a\" style=\"\" rel=\"noopener\">Africa Water Infrastructure Development (AWID)<\/a> platform. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Metito leads the region\u2019s desalination sector:<\/strong> Metito was one of the companies eyeing <a target=\"_blank\" href=\"https:\/\/climate.enterprise.news\/news\/story?storyId=ea3ae457-7cc9-46f5-a054-24f063bf5683\" style=\"\" rel=\"noopener\">four<\/a><a target=\"_blank\" href=\"https:\/\/climate.enterprise.news\/news\/story?storyId=ea3ae457-7cc9-46f5-a054-24f063bf5683\" style=\"\" rel=\"noopener\">desalination plants<\/a> to support Egyptian green hydrogen production facilities. It also partnered with Orascom, Taqa, and Adnoc to develop <a target=\"_blank\" href=\"https:\/\/climate.enterprise.news\/news\/story?storyId=737679fd-a285-474f-8117-0d2b4b0666f8\" style=\"\" rel=\"noopener\">USD 2.2 bn<\/a> sustainable seawater treatment project for Adnoc\u2019s onshore operations. Metito is also currently constructing a <a target=\"_blank\" href=\"https:\/\/climate.enterprise.news\/news\/story?storyId=13171538-ea0f-43a9-a36e-506a2f933f82\" style=\"\" rel=\"noopener\">treatment and recycling plant in Sharjah<\/a>. The company is <a target=\"_blank\" href=\"https:\/\/www.metito.com\/about-metito\/key-shareholders\/\" style=\"\" rel=\"noopener\">backed by<\/a> the International Finance Corporation and <a target=\"_blank\" href=\"https:\/\/climate.enterprise.news\/news\/story?storyId=d6aef2bd-7490-4c9b-9dc1-d616cc274ba2\" style=\"\" rel=\"noopener\">Alpha Dhabi Holding<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>NEOVISION\u2019S CARBON CREDIT FUND<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE asset management firm sets up USD 250 mn carbon credit fund:<\/strong> Abu Dhabi Global Market-based <a target=\"_blank\" href=\"https:\/\/neovision-wealth.com\/\" style=\"\" rel=\"noopener\">Neovision Wealth Management<\/a> is establishing a USD 250 mn fund to invest in the development of carbon credits across developing markets, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-06\/abu-dhabi-s-neovision-sets-up-250-million-carbon-credit-fund?leadSource=uverify%20wall\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. The fund \u2014 dubbed the Global Carbon Credit Development Fund \u2014 will invest in nature-based carbon offsetting projects implemented by <a target=\"_blank\" href=\"https:\/\/www.globalfrontiercapital.com\/\" style=\"\" rel=\"noopener\">Global Frontier Capital<\/a>, which is currently undertaking <a target=\"_blank\" href=\"https:\/\/www.globalfrontiercapital.com\/proj-experience\" style=\"\" rel=\"noopener\">reforestation projects<\/a> across Africa, Asia, and South America. The fund is the first of its kind in the MENA region, Neovision says.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Carbon markets have been picking up steam across the region,<\/strong> with the Dubai Financial Market (DFM) <a target=\"_blank\" href=\"https:\/\/climate.enterprise.news\/news\/story?storyId=9cb7b135-2330-4147-b5ad-aa37eeec3799\" style=\"\" rel=\"noopener\">launching<\/a> its maiden voluntary carbon market at COP28 on Tuesday. Saudi Arabia\u2019s sovereign wealth fund, the Public Investment Fund (PIF) <a target=\"_blank\" href=\"https:\/\/climate.enterprise.press\/stories\/2022\/10\/26\/a-new-regional-voluntary-carbon-market-company-courtesy-of-pif-85059\/\" style=\"\" rel=\"noopener\">set<\/a><a target=\"_blank\" href=\"https:\/\/climate.enterprise.press\/stories\/2022\/10\/26\/a-new-regional-voluntary-carbon-market-company-courtesy-of-pif-85059\/\" style=\"\" rel=\"noopener\">up<\/a> a regional voluntary carbon market company back in October. Egypt is also launching its first VCM soon, and has <a target=\"_blank\" href=\"https:\/\/climate.enterprise.news\/news\/edition?id=89f80671-a7ce-49df-b190-df700bcd50f4&prev=false\" style=\"\" rel=\"noopener\">identified 16 sectors<\/a> \u2014 including renewable energy, waste management, and carbon capture \u2014 in which it aims to attract investments in the trading of CO2 offsets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E& LANDS S-LINKED LOAN<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E& secures USD 100 mn green loan:<\/strong><a target=\"_blank\" href=\"https:\/\/www.eand.com\/en\/index.html\" style=\"\" rel=\"noopener\">Telecommunications and tech investment<\/a><a target=\"_blank\" href=\"https:\/\/www.eand.com\/en\/index.html\" style=\"\" rel=\"noopener\">outfit<\/a><a target=\"_blank\" href=\"https:\/\/www.eand.com\/en\/index.html\" style=\"\" rel=\"noopener\">E&<\/a> has secured a three-year AED 366 mn (c.USD 100 mn) sustainability-linked loan to help finance development projects in the clean energy sector, according to a <a target=\"_blank\" href=\"https:\/\/adxservices.adx.ae\/cdn\/contentdownload.aspx?doc=3007560\" style=\"\" rel=\"noopener\">filing with the ADX<\/a>. It did not identify who is providing the financing. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Use of proceeds: <\/strong>E& will channel its <a target=\"_blank\" href=\"https:\/\/english.mubasher.info\/news\/4223147\/e-secures-1st-green-loan-agreement-at-AED-366m\/\" style=\"\" rel=\"noopener\">first green loan<\/a> toward funding and refinancing renewable energy, clean transport, and energy efficiency projects. The credit line will also help fund future ventures in the sustainable water supply, waste management, green buildings and pollution reduction industries, the news agency notes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Committing to net zero targets:<\/strong> E& said it is committed to reach net-zero by 2040 for its <a target=\"_blank\" href=\"https:\/\/climate.enterprise.news\/news\/story?storyId=e1152b52-49cc-4ad8-8786-9d43e6f955c5\" style=\"\" rel=\"noopener\">scope one and two<\/a> emissions across its global operations, <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/apzg8p3-announces-commitment-achieve-net-zero-carbon\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The company set a more ambitious target for its UAE operations, aiming to get to net-zero by 2030, and slashing 25% of its <a target=\"_blank\" href=\"https:\/\/climate.enterprise.news\/news\/story?storyId=d9721ed2-5257-493b-9b97-e80971fb0807\" style=\"\" rel=\"noopener\">scope three emissions<\/a> by the end of the decade. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The partnership aims to facilitate the pairs\u2019 mutual goal of achieving net zero carbon emissions by 2050<\/p>\n","protected":false},"author":1,"featured_media":87245,"comment_status":"","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":[2200],"tags":[342,388,7,295],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87244","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cop-watch","tag-cop-watch","tag-decarbonization","tag-enterpriseam-uae","tag-green-energy","wpautop","entry"],"acf":{"mongo_id":"a9f8aff3-01d2-48a8-97d9-09ae3ab9b7d5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/12\/458.jpg","photo_position":"above","homepage_title":"","full_issue_title":"DP World inks MoU at COP28 to trial green shipping solutions","related_issue":[87241],"teaser":"The partnership aims to facilitate the pairs\u2019 mutual goal of achieving net zero carbon emissions by 2050","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.99339543-d5e7-42a7-a459-14f731c88d66.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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