Category: Climate Action

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

The United Arab Emirates is intensifying its commitment to sustainable transportation by planning to install 500 electric vehicle charging stations nationwide by the end of 2025. This initiative aims to support the growing adoption of EVs and reduce carbon emissions, aligning with the country's broader environmental objectives.Sharif Al Olama, Under-Secretary for Energy and Petroleum Affairs at the Ministry of Energy and Infrastructure, announced that over 100 EV chargers were established across the UAE in 2024. The ministry's strategy

Dubai is advancing its sustainability agenda with the introduction of the Super Block initiative, aiming to establish car-free zones in key residential areas. This move seeks to enhance environmental quality and promote healthier urban living.The Super Block concept involves designating clusters of nine city blocks where non-essential vehicles are restricted, transforming streets into pedestrian-friendly spaces. Essential services and residents' vehicles will have limited access, with speed limits capped at 10 km/h to ensure safety. Parking solutions, such as underground facilities,

Blue bonds, designed to finance marine conservation projects, are fast emerging as a promising avenue for investors and governments looking to meet environmental, social, and governance objectives. These financial instruments, closely linked to sustainable finance, hold great potential in the context of global climate change strategies. However, their effectiveness hinges on ensuring they align with broader net-zero policies and address the multifaceted challenges of marine ecosystems.In their essence, blue bonds are akin to green bonds, which target projects that

TA’ZIZ, the joint venture between Abu Dhabi National Oil Company and ADQ, has awarded a $1.7 billion engineering, procurement, and construction contract for a major methanol plant in Abu Dhabi. This development underscores the continued strategic expansion of the UAE’s industrial sector, as it further solidifies the nation’s position as a key player in the global chemical and energy markets.The contract has been awarded to a consortium led by the Korean company GS Engineering & Construction, which has

Blockchain technology is increasingly intersecting with renewable energy initiatives, offering transformative solutions that enhance transparency, efficiency, and accessibility in the energy market. This convergence is fostering a new era of decentralized energy systems, where consumers and producers engage in more direct and efficient transactions.UrbanChain, established in 2017 and based in Manchester Science Park, has developed a green energy marketplace that utilizes artificial intelligence and distributed ledger technology. This platform enables traceable energy exchanges between small-scale renewable energy generators and consumers,

The likelihood of wildfires in Los Angeles has increased by 35 percent due to climate change, a new report suggests. According to the findings, rising temperatures, altered precipitation patterns, and prolonged droughts, all exacerbated by global warming, have contributed to the current severity of wildfires in the region. Notably, the Palisades and Eaton Canyon fires are directly influenced by these climate-driven changes, pushing the local environment into more combustible conditions.Researchers point out that climate change is not only intensifying

ADNOC Gas has entered into a strategic partnership with the Emirates Water and Electricity Company (EWEC), marked by a 10-year natural gas sales and purchase agreement valued at $10 billion. This collaboration ensures a stable and flexible supply of natural gas, a critical component in the United Arab Emirates' (UAE) ongoing energy transformation efforts.Fatema Al Nuaimi, CEO of ADNOC Gas, emphasized the significance of this alliance, stating that it supports the nation's net-zero ambitions and drives sustainable economic growth.

Etihad Rail has launched the region's first "CO2 Emission Avoidance and Reduction Certificates," enabling businesses to quantify and validate the carbon savings achieved by choosing rail over alternative transport modes. This initiative aligns with the UAE's Net Zero by 2050 Strategy and supports the nation's climate change agenda.The certificates, powered by EcoTransIT, a globally recognized tool for assessing the environmental impact of transport, calculate CO2 Equivalents (CO2e) by factoring in direct emissions from diesel and indirect emissions from biofuels.

Masdar, the UAE-based renewable energy powerhouse, has announced a monumental venture in the Philippines, committing $15 billion towards the development of clean energy projects. This move marks a pivotal expansion for Masdar, aiming to bolster its growing footprint in Southeast Asia while contributing to the Philippines' ambitious climate goals.The decision to enter the Philippine market comes as the country intensifies its efforts to transition to renewable energy sources amid rising environmental concerns. The $15 billion investment will target various energy

The United Arab Emirates' state-owned energy firm, Masdar, has entered the Philippine renewable energy market by signing a $15 billion agreement to develop solar, wind, and battery energy storage systems. This initiative aims to deliver up to 1 gigawatt (GW) of clean power by 2030, with plans to scale up to 10 GW by 2035.Philippine Energy Secretary Raphael Lotilla described the partnership as a transformative step in the nation's renewable energy journey, emphasizing its alignment with the country's goals

ADNOC Gas is exploring innovative technologies aimed at transforming methane into graphene and hydrogen, positioning itself at the forefront of energy sector innovation. This breakthrough approach could redefine the future of energy production, reduce carbon emissions, and open new possibilities for the use of natural gas.The new technology being investigated by ADNOC Gas, part of the state-owned Abu Dhabi National Oil Company (ADNOC), represents a significant shift in the way methane—a major greenhouse gas and a core component of natural

Chinese solar giant Trinasolar is seeking a strategic partner in the United Arab Emirates (UAE) for a major solar power initiative valued at $5 billion. This ambitious project is designed to further the company’s foothold in the Middle East’s rapidly expanding renewable energy sector. The program aims to leverage Trinasolar's advanced technologies and the UAE's increasingly aggressive push towards sustainability, a combination that could mark a significant leap forward in solar energy development in the region.The UAE, which has positioned