Browsing: Climate

Agthia Group PJSC, a prominent food and beverage company in the region, has taken a significant stride in reducing its carbon footprint. The group’s solar energy initiative involves setting up solar power plants at the production facilities of Al Ain Water and Al Foah, two key subsidiaries. This environmentally conscious collaboration with Yellow Door Energy, a renowned UAE-based solar developer, is formalized through the execution of a Letter of Award and the subsequent signing of a solar lease agreement, demonstrating Agthia’s commitment to sustainability.

Emirates Development Bank (EDB) has pledged up to AED 1.3B ($350M) to support the Energy Transition Accelerator Financing (ETAF) platform, a global climate finance initiative initiated by the International Renewable Energy Agency (IRENA). The goal of this platform is to expedite the funding of renewable energy projects, particularly in developing nations.

Dubai Future Forum is set to commence on November 27, organized by the Dubai Future Foundation (DFF) and spanning two days at the Museum of the Future. The forum’s focal points include reimagining nature, empowering future generations, the human-machine relationship, and transformations in human life.

The comprehensive platform will explore the trading and utilization of carbon credits, providing a “mechanism to help companies manage unavoidable and residual carbon emissions while pursuing direct decarbonisation strategies,” according to DFM. Each carbon credit represents a tangible reduction in carbon emissions, offsetting one tonne of CO2 equivalent emissions. As per the Taskforce on Scaling Voluntary Carbon Markets (TSVCM), the demand for carbon credits could increase significantly, potentially by a factor of 15 or more by 2030 and up to 100 by 2050. The overall carbon credit market is projected to exceed $50B in value by 2030.

Abu Dhabi Finance Week is set to commence on Monday at The Abu Dhabi Global Market, with a focus on “investing in the transition era” as nations intensify investments in reducing emissions and achieving net zero targets in the coming decades. Senior officials, including Abdulla Bin Touq, Minister of Economy, and Mariam Al Mheiri, Minister of Climate Change and Environment, will join executives from the business world in addressing the four-day event.

Adnoc has introduced the first “high-speed” green hydrogen pilot refuelling station in the region to trial a fleet of vehicles powered by hydrogen. The station, operated by Adnoc Distribution in Masdar City, will generate green hydrogen through an electrolyser that runs on clean grid electricity, as stated by the company on Friday.

Dubai is set to unveil the Gulf’s inaugural hydroelectric power plant in 2025, solidifying its position as a key player in regional clean energy initiatives.

ADNOC Group has joined forces with Australia’s Santos to work together on carbon management and advance technology to expedite decarbonisation across the Asia-Pacific region.

Emirates Global Aluminium (EGA), the largest non-oil and gas industrial company in the UAE, has commenced the construction of the nation’s most extensive aluminium recycling plant.

Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment, has unveiled the ‘Ne’ma Food Loss and Waste Reduction Roadmap,’ a robust plan aimed at reducing food loss and waste in the country by 50 percent by 2030.