Category: Climate Action

Abu Dhabi's renewable energy company, Masdar, is nearing a $200 million agreement to acquire a 49.9% stake in a 450-megawatt solar portfolio managed by Spanish utility Endesa. This strategic move aims to bolster Masdar's presence in Spain, aligning with its ambition to achieve 100 gigawatts of global renewable energy capacity by 2030.A Masdar spokesperson commented on the company's expansion goals, stating that they are actively exploring opportunities in the region to meet their global target. Endesa has chosen not to

Aldar Investment Properties , a subsidiary of Aldar Properties, has successfully issued a $500 million 10-year green sukuk, significantly enhancing its financial standing. The issuance witnessed remarkable investor interest, with the order book surpassing $3.6 billion, indicating an oversubscription rate of 7.2 times. Regional investors accounted for 61% of the allocations, while international investors took up the remaining 39%.The sukuk was competitively priced at a spread of 110 basis points over the 10-year US Treasury yield, resulting in a

In a significant move to bolster global sustainability efforts, the United Arab Emirates and Denmark have formalized a partnership aimed at enhancing cooperation in sustainable agriculture and food systems. This development underscores both nations' commitment to addressing pressing environmental challenges and ensuring food security.On 12th March 2025, His Highness Sheikh Abdullah bin Zayed Al Nahyan, UAE's Deputy Prime Minister and Minister of Foreign Affairs, met with Denmark's Minister of Foreign Affairs, Lars Løkke Rasmussen, in Copenhagen. During this meeting,

Dubai's real estate industry is undergoing a significant transformation as developers, regulators, and investors align efforts to achieve a net-zero built environment by 2030. This collective endeavour is driven by policy initiatives, financial incentives, and technological advancements, positioning sustainability at the forefront of the sector's evolution.The United Arab Emirates has committed to the Net Zero 2050 initiative, aiming to eliminate carbon emissions by mid-century. This national strategy places substantial responsibility on Dubai's real estate market to implement energy-efficient designs

The Gulf Cooperation Council experienced a slight increase in announced greenfield foreign direct investments in 2024, with the total number of projects rising by just under 1% to 1,830 from 1,813 in 2023, according to Emirates NBD Research. This modest growth underscores the region's ongoing efforts to attract foreign investment, particularly in key markets like Saudi Arabia and the United Arab Emirates .Saudi Arabia emerged as the primary destination for greenfield FDI within the GCC, capturing 54% of

Sustainable bond issuance in the Middle East is anticipated to reach between $18 billion and $23 billion in 2025, according to S&P Global Ratings. This projection underscores the region's commitment to environmental, social, and governance initiatives, with the United Arab Emirates and Saudi Arabia expected to contribute approximately 60% of the total issuance.In 2024, sustainable bonds constituted over 25% of regional corporate and financial institution issuances, a figure notably higher than the global average of 9%. Despite this

Saudi Arabia has successfully issued its first sovereign green bond, raising €1.5 billion and marking a significant step in the Kingdom's commitment to sustainable financing. The issuance attracted substantial investor interest, with bids totaling €7.25 billion, indicating strong confidence in Saudi Arabia's environmental initiatives.The green bond is part of a dual-tranche euro-denominated issuance, which also included a 12-year conventional bond. The green tranche has a 7-year maturity and was priced at a spread of 100 basis points over mid-swaps,

National Central Cooling Company PJSC , a leading district cooling provider in the United Arab Emirates, has successfully issued a $700 million five-year green sukuk. This strategic move underscores the company's commitment to sustainable financing and positions it prominently within the rapidly expanding green finance sector.The sukuk, structured under Regulation S, carries a fixed profit rate of 5.29% per annum, with payments scheduled semi-annually. Initially marketed at a spread of 155 basis points over U.S. Treasuries, robust investor demand enabled

In a landmark decision, over 140 nations have committed to mobilising $200 billion annually by 2030 to safeguard global biodiversity. This agreement, finalised at the United Nations COP16 summit in Rome, aims to halt and reverse environmental degradation worldwide.The pact outlines a financial roadmap to support conservation efforts, particularly in developing countries. Key provisions include raising $20 billion annually by 2025, escalating to $30 billion by 2030, dedicated to biodiversity preservation in these regions. This initiative is part of the

The Gulf region’s strategic importance in global supply chains is increasing as the US seeks to secure critical minerals vital for technology and clean energy. With an eye on reducing dependence on China, the US is now pivoting towards the Gulf, an area rich in natural resources and energy infrastructure, to diversify its supply of rare earth elements and minerals.Recent geopolitical shifts have made it clear that the Gulf plays a crucial role in the US’s evolving energy security framework.

Saudi Arabia and Abu Dhabi are intensifying their efforts to transform their energy sectors, aiming to significantly increase renewable energy capacities by 2030 and 2035, respectively. These initiatives are central to their broader strategies for economic diversification and environmental sustainability.Saudi Arabia's Vision 2030 outlines a target for renewables to constitute 50% of the nation's energy mix by 2030, equating to approximately 130 gigawatts of renewable capacity. This ambitious plan includes a substantial focus on solar energy, projected to contribute

Policymakers, industry leaders, and researchers convened in New Delhi on Monday for the Prakriti 2025 conference, focusing on leveraging carbon markets to combat climate change and promote sustainable development. Union Minister for Power and Housing & Urban Affairs, Manohar Lal, inaugurated the event, emphasizing the government's commitment to integrating carbon markets into national climate policy.Organized by the Bureau of Energy Efficiency under the Ministry of Power, Prakriti 2025—Promoting Resilience, Awareness, Knowledge, and Resources for Integrating Transformational Initiatives—aims to foster

Saudi Arabia has announced a significant investment of SR13.4 billion to expand the Qurayyah Independent Power Plant in the Eastern Province. This expansion aims to add 3.01 gigawatts of power generation capacity, addressing the Kingdom's growing energy demands and supporting its economic development.The Saudi Power Procurement Company , the nation's sole licensed electricity buyer, has signed a power purchase agreement with the Saudi Electricity Company and ACWA Power for this project. The Qurayyah plant, already

TrinaTracker, a subsidiary of Trinasolar Co. Ltd and a global leader in smart solar tracking solutions, has inaugurated a manufacturing facility in Saudi Arabia. Located in Jeddah's 3rd Industrial City, the plant is slated to commence operations in the first quarter of 2025, specializing in the production of the Vanguard series of solar trackers and smart control systems. This development underscores TrinaTracker's commitment to localization and enhancing its distribution and service capabilities in the Middle East and Africa

Confidence within the energy sector regarding the attainment of global net-zero emissions by 2050 has markedly decreased. The Energy Industries Council reports that only 16% of industry leaders now believe these climate goals are achievable, a significant drop from 45% the previous year. This decline is attributed to policy instability, financial uncertainties, and protracted project approval processes.The EIC's "Net Zero Jeopardy Report II" highlights that inconsistent government policies and regulatory frameworks are primary obstacles to progress. Industry executives emphasize

AM Green, a prominent producer of green hydrogen and ammonia, has entered into a strategic partnership with DP World, a global logistics leader, to establish a sustainable supply chain for green fuels and chemicals. This collaboration aims to position India as a central hub for the export of green ammonia and methanol, significantly contributing to global decarbonization efforts. Under the Memorandum of Understanding (MoU) signed in December, the two companies will jointly develop logistics and storage infrastructure to facilitate the global

UAE President Sheikh Mohamed bin Zayed Al Nahyan met with Ukrainian President Volodymyr Zelensky in Abu Dhabi on Monday, marking a significant step towards enhancing diplomatic and economic cooperation between the two nations. The meeting, which took place at Qasr Al Shati, underscored the UAE’s commitment to bolstering global partnerships and supporting peaceful conflict resolution in the region.Both leaders discussed a range of issues aimed at fortifying bilateral relations, including opportunities for economic collaboration, investment, renewable energy development, and ensuring

In a strategic move to enhance sustainable energy access, Masdar, TotalEnergies, and EPointZero have entered into a framework agreement aimed at delivering clean energy solutions across Africa and Asia. This collaboration seeks to address energy deficits in underserved communities by leveraging the combined expertise of the three companies in renewable energy development.The partnership focuses on deploying secure and sustainable electricity to local neighborhoods in Africa, with plans to initiate new clean energy projects in Southeast Asia. Additionally, TotalEnergies and EPointZero

French energy giant EDF has entered a strategic partnership with TAQA Group, a Saudi-based energy company, to push forward innovations in geothermal energy technology. The deal, which also includes power generation and HVAC applications as well as compressed air energy storage, was formalised during the third PIF Private Sector Forum at the King Abdul Aziz International Conference Centre in Riyadh, Saudi Arabia.Omar Aldaweesh, CEO of EDF Saudi Arabia, and Meshary Al-Ayed, CEO of TAQA Geothermal Energy Company, signed the Memorandum

Abu Dhabi Commercial Bank Egypt is strategically aligning its operations with sustainability and green finance initiatives, reflecting the growing emphasis on environmentally responsible banking practices within the financial sector. The CEO of ADCB Egypt highlighted that the bank is committed to advancing sustainability as a key part of its broader corporate strategy, which mirrors the UAE-based parent group’s efforts to support eco-friendly projects and initiatives.Under the leadership of the CEO, ADCB Egypt has rolled out a comprehensive sustainability plan

The Environmental, Social, and Governance sukuk market has achieved a significant milestone, with its outstanding value exceeding $50 billion by the end of 2024. This growth underscores the increasing integration of ethical and sustainable principles within Islamic finance.Data from the London Stock Exchange Group indicates that ESG sukuk issuances reached $15.2 billion in 2024, marking a 14.5% annual growth. This represents the eighth consecutive year of record issuances since the market's inception in 2017. The sustained expansion reflects

LEAP, the acclaimed technology event, is expanding into Asia with the introduction of LEAP East, scheduled at the Hong Kong Convention and Exhibition Centre from 9 to 11 July 2026. Organised by Tahaluf, this inaugural event aims to attract global tech leaders, innovators, and investors to one of the world's most dynamic cities.The conference will feature over 300 expert speakers and 300 exhibitors, showcasing advancements across multiple industries. Topics will include fintech, gaming, artificial intelligence, robotics, smart cities, digital transformation,

NEOM and DataVolt have entered into a landmark agreement, marking a significant step toward realizing Saudi Arabia's vision for a sustainable, data-driven economy. This collaboration aims to establish advanced data centers within NEOM, the ambitious megacity under development in the kingdom's northwest.The partnership focuses on creating state-of-the-art data infrastructure to support NEOM's technological and environmental goals. DataVolt, recognized for its expertise in developing and operating data centers, will play a pivotal role in this initiative. The agreement underscores Saudi Arabia's

The Middle East confronts a significant and widening disparity between its climate adaptation funding requirements and actual expenditures. According to the Brookings Institution, the region's national adaptation plans and nationally determined contributions estimate a need for $8.2 billion annually until 2030. However, modelled adaptation costs are projected at $17.1 billion per year, highlighting a substantial and growing financial gap.Amar Bhattacharya, a senior fellow at the Brookings Institution, emphasized this concern during the World Government Summit in Dubai, stating