Good morning, ladies and gentlemen. Between the first day of the world leaders’ summit at COP27 and the first interview in our Enterprise Climate CEO Poll series, we have a busy issue for you — let’s jump right in:

THE BIG CLIMATE STORY EVERYWHERE- COP27, naturally enough. Egypt’s President Abdel Fattah El Sisi opened the conference yesterday, calling on countries to tackle climate change “to the degree that they can,” followed by a series of somber speeches from world leaders filled with warnings of “irreversible” climate chaos.

SOUNDBITE OF THE DAY- UN Secretary General Antonio Guterres said “we are on a highway to climate hell with our foot still on the accelerator.”

This morning’s Enterprise Climate soundtrack is, naturally enough, this. Thank you, Angus Young.

We’re starting the second and final day of the world leaders’ summit, with more national statements on the docket. A video message from Ukrainian President Volodymyr Zelenskyy will play at the conclusion of the national statements. The session is expected to start at 10:30am CLT (11:30am KSA / 12:30pm UAE) and continue until the end of the day, according to the agenda (pdf).

Among those speaking today — according to the list of speakers (pdf):

• Arab leaders including Libyan President Mohamed Menfi, Lebanon’s Prime Minister Mohamad Najib Mikati, Tunisian Prime Minister Najla Bouden Ep Romdhan, Palestinian Prime Minister Mohammad I. M. Shtayyeh;
• European leaders, including European Council President Charles Michel, European Commission President Ursula von der Leyen;
• South African President Matamela Cyril Ramaphosa.

AND THEN WHAT…? Don’t expect any big announcements or major breakthroughs after leaders are done giving their speeches today. The key issues at play (loss and damage, emission reduction targets etc.) are being negotiated by government delegations over the next 10 days so we’ll likely have to wait until 18 November for a final agreement to come out of COP27.

Also today: Saudi Arabia’s Middle East Green Initiative gets underway in Sharm.

^^ We have the full rundown of what went down on Day 2 — and what to look out for over the next few days — in the news well, below.

KEY COP DATES-

Among the days and themes that we think are most relevant to MENA business leaders:

• Finance day: 9 November
• Decarbonization day: 11 November
• Saudi Green Initiative: 11-12 November
• Adaptation and agriculture day: 12 November
• Water day: 14 November
• Energy day: 15 November

Detailed schedule: Download as a pdf here or check out the website here.

COP27 app for attendees: App Store and the Google Play Store.

Do you have news coming out of COP? A top exec who would like to have a chat? Send press releases, statements, communiques and interview pitches our way on editorial@enterprise.press.

The Enterprise Climate X Forum, our first industry-specific conference is taking place on Tuesday, 6 December. It’s a C-suite event for CEOs and top execs, investors, bankers and development finance folks.

In panels, live interviews and networking sessions, the Enterprise Climate X Forum will give insiders and newcomers alike the chance to talk about how to build a climate-centered business — and how to make sure your business continues to have access to the funds it needs to grow. Expect it to be heavy on lessons learned in Egypt and other global growth markets — and lots of success stories.

Some of the biggest names in business and finance are on board — are you? The Enterprise Climate X Forum is taking place with the generous support of our friends, including:

• Banking partners: HSBC | Mashreq | Attijariwafa Bank
• Telecom partner: Etisalat by e&
• Event partners: Hassan Allam Utilities | Infinity

DO YOU WANT TO ATTEND? The first wave of invites is going out now. If you’re a C-suite exec, business owner, climate professional, DFI staff, investor or banker, please email us at climatexrsvp@enterprisemea.com to signal your interest, letting us know your name, title and where you work.

You’re going to love the venue when we unveil it next week.

Want to reach our audience? Ping a note to Moustafa Taalab, our head of commercial, here.

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YOU’RE READING ENTERPRISE CLIMATE, the essential regional publication for senior execs who care about the world’s most important industry. Enterprise Climate covers everything from finance and tech to regulation, products and policy across the Middle East and North Africa. In a nod to the growing geographical ambitions of companies in our corner of the world, we also include an overview of the big trends and data points in nearby countries, including Africa and southern Europe.

Enterprise Climate is published at 4am CLT / 5am Riyadh / 6am UAE Monday through Thursday by Enterprise, the folks who bring you Enterprise Egypt, your essential 6am and 3pm read on business, finance, policy and economy in Egypt and emerging markets.

Subscribe to Enterprise Climate here or reach out to us on climate@enterprisemea.com with comments, suggestions and story tips.

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DANGER ZONE- GCC coastal region at risk due to rising sea levels: Sea levels are rising faster than many of the Gulf’s coastal developments are built to accommodate, leaving these developments increasingly exposed to climate change, the National reports, citing engineering consultancy WSP Middle East. Many developments are built with conservative expectations that sea levels will rise approximately one meter, although a 2021 report (pdf) by the Intergovernmental Panel on Climate Change says sea levels could rise up to 2 meters if carbon emissions are not reduced significantly. Developers should invest in assessing their projects’ resilience to climate change and creating sand dunes for instance to ward off excess water, WSP says.

Waters are getting higher and warmer: The Arabian Gulf water temperature is expected to rise by 4.26°C by 2039, resulting in devastating effects on marine biology, including coral bleaching, the National reports. In Egypt, rising water levels could lead to the erosion of the Nile Delta, and global floods are expected to increase tenfold by 2050, endangering people, agricultural land, and wildlife.

CIRCLE YOUR CALENDAR-

The Hawkamah annual conference will kick off next Tuesday, 15 November in Dubai. The conference will address governance from the perspective of investors including expectations and interaction with boards as well as the role of regulators and companies in preparing for IPOs to attract the right investors.

Saudi Arabia’s Education Ministry will host the Global Conference on Sustainable Partnerships on Wednesday, 23 November to Thursday, 24 November in Riyadh, bringing together ministers and senior officials from the private and public sectors.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.