On October 24, Bahrain’s Cabinet announced the intention to bring carbon emissions to net-zero by 2060 to help tackle climate change and protect the environment, the state news agency (BNA) reported. The Kingdom has already reduced emissions while growing the national economy by placing clean, green, and sustainable growth at the heart of Bahrain Economic […]
Bank of America’s report has warned that reaching net-zero will cost the global economy $5 trillion annually for the next 30 years. On the eve of the UN’s COP26 environmental conference in Scotland this month, where countries who signed the 2015 Paris Agreement to reduce carbon emissions will review their progress and outline policies to […]
Climate change is one of the biggest challenges that central banks and financial institutions worldwide face. They should work together to mitigate climate risk and boost the global economy’s resilience, the governor of the Central Bank of the UAE said. Central banks and other financial regulatory authorities should continue to develop “safe and effective” supervisory […]
On Tuesday, British Prime Minister Boris Johnson set out his ambition for a green revolution that he hopes will force Western economies to kick their addiction to fossil fuels. At the end of the month, Britain hosts the COP26 UN climate talks in Glasgow, Scotland, aiming to strengthen global action on global warming. “With the […]
Masdar, a subsidiary of Mubadala Investment Company, and Iraq’s Ministry of Electricity and National Investment Commission signed an agreement on October 6 that implements the first phase of solar projects that will boost the country’s goal of generating 20-25% of its energy from renewables, equivalent to 10-12 gigawatts by 2030. The clean energy company will […]
The largest climate event, the COP26 Climate Negotiations, will begin in Glasgow on October 31. At the 26th Annual Congress, delegations from more than 190 countries will discuss how to tackle the global climate crisis, how to reduce greenhouse gas emissions and, most importantly, how to encourage governments to take responsibility for and counter the […]
A new report, titled ‘Hydrogen: From Hype to Reality,’ has called on the importance of developing integrated strategies to produce, store and use hydrogen energy, WAM states. As the world strives to achieve net-zero emissions, it noted that hydrogen would be crucial to decarbonize hard-to-abate industries, such as steel, cement, aviation, and shipping. The report […]
The First Abu Dhabi Bank (FAB) has announced that it is joining the Net-Zero Banking Alliance (NZBA), becoming the first UAE and GCC bank to join the alliance, WAM reports. As part of this commitment, FAB will enable its clients to transition towards a climate-neutral economy through innovative financing and advisory services. FAB puts sustainability […]
Funds managing nearly $30 trillion in assets called on September 28 for 1,600 of the world’s most polluting companies to set science-based emissions reduction targets as a matter of urgency, Reuters reports. The 220 investors, including Fidelity International and Amundi, said they had written to CEOs of companies they invest in demanding targets that would […]
Energy and environment ministers from the Group of 20 wealthy nations have failed to agree on the wording of crucial climate change commitments in their final communique, Italy’s Ecological Transition Minister Roberto Cingolani said on July 23, Reuters reports. The G20 ministers failed to reach an agreement in Naples on a common goal – to […]
