Good morning, ladies and gentlemen, welcome to week two of COP27. It’s day eight of the summit, and we have a roundup of all the news you may have missed over the weekend (or on your very well-earned ‘day off’ yesterday).

THE BIG CLIMATE STORY: Saudi Arabia came in hot with a slew of pledges at its Saudi Green Initiative Forum at COP27 over the weekend in a bid to position itself as more than just the world’s top oil exporter. The kingdom has some 13 renewable energy projects in the pipeline worth a combined USD 9 bn.

Soundbit of the morning: “The world is hoping to crucify us. We want people to match us, and we want to make sure people put their money where their mouths are,” Saudi Energy Minister Prince Abdulaziz bin Salman told Reuters.

^^ We have the full rundown of what went down on Day 5 through to Day 7 — and what to look out for over the next few days — in the news well, below.

** MEANWHILE- WE HAVE A BIG ANNOUNCEMENT of our own to make:

Our Enterprise Climate X Forum is happening at the brand new Grand Egyptian Museum: We are delighted to finally reveal that the Enterprise Climate X Forum is taking place at the Grand Egyptian Museum on Tuesday, 6 December 2022..

What’s the Enterprise Climate X Forum? It’s our first industry-specific conference, where CEOs, top execs, investors, bankers and development finance folks have 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.

Some of the biggest names in business and finance are on board — are you? 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.

Who’s on board? 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

HAPPENING TODAY-

It’s Water Day at COP 27, with sessions on sustainable water resource management, water scarcity, drought, cross boundary cooperation, and the improvement of early warning systems. We’re expecting the official launch of the Aware (Action for water adaptation and resilience) initiative, in partnership with the World Meteorological Organization.

The next big things to look out for: Energy Day on Wednesday and Solutions Day on Friday.

REMEMBER- The key issues at play (loss and damage, emission reduction targets etc.) are being negotiated by government delegations over the next week so we’ll likely have to wait until 18 November for a final agreement to come out of COP27.

Also at COP27: Egypt’s first smart, sustainable city: Egypt’s Housing Ministry showcased Palm Hills Developments’ real estate project Badya at its COP27 pavilion, as the country’s first smart, sustainable city, according to a ministry statement.

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

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

WATCH THIS SPACE #1- Brazil is angling to host an upcoming COP, Reuters reports citing unnamed sources. Brazilian President-elect Luiz Inacia Lula da Silva will reportedly announce an overhaul of Brazil’s environmental policies — including a new national climate authority overseeing all climate action work by ministries and agencies — at COP27 this week. Lula, who will take office in January, made climate a cornerstone of his campaign in the runup to his reelection last month.

WATCH THIS SPACE #2- The World Bank Group plans to expand electrification across Sub-Saharan Africa: The World Bank, the IFC, and the Multilateral Investment Guarantee Agency launched an initiative to upscale distributed renewable energy projects in sub-Saharan Africa (SSA) by promoting public and private investment across the region, according to a statement. The initiative, the Distributed Access through Renewable Energy Scale-Up Platform, will use off-grid solar stations and mini-grids (among other infrastructure) to expand access to electricity.

SOUND SMART- Some 500 mn people across SSA will remain without electricity by 2030 if current renewables project levels are not expanded threefold, the group warns, reducing the region’s access to inclusive development.

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THE DANGER ZONE- 45 mn people in 37 countries are at risk of famine due to war and climate, according to a joint report (pdf) by the Food and Agriculture Organization (FAO) and the World Food Programme (WFP). Up to 205 mn people face acute food insecurity and need urgent assistance, driven mainly by the effects of conflict, climate conditions and weather shocks, economic shocks, and outbreaks of animal and plant pests. Ukraine’s prolonged conflict is also making food shortages worse, the report adds.

The Middle East and East Africa are especially at risk: The report identifies 17 countries and two regional clusters where food insecurity will worsen between now and January, largely due to climate change effects and increasing conflict, with 970k people expected to face catastrophic conditions this year if no action is taken. With the exception of Afghanistan and Pakistan, all of the hotspots identified in the report are in the Middle East and Africa. More than 50% of the population in South Sudan, Yemen, and Syria are in a crisis phase or worse.

CIRCLE YOUR CALENDAR-

The Hawkamah annual conference will kick off tomorrow 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.

UAE will host The Big 5 Global Construction Impact Summit on Wednesday, 7 December at the Dubai World Trade Centre, bringing more than 2k exhibitors from 60 countries, as well as regional and global construction industry leaders together to discuss ways to meet local and global net zero and waste reduction targets.

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