TODAY: Is reverse osmosis desalination really low carbon?
Good morning, friends. The climate news cycle is throwing us for a loop this morning with a relatively slow day, but we have quick a few EV updates from… everywhere. Let’s jump in.
THE BIG CLIMATE STORY- French utility company Engie and the Abu Dhabi National Energy Company (Taqa) are officially on board to establish a new “low carbon” reverse osmosis desalination plant in the UAE — but is it really environmentally friendly? We have chapter and verse on this story and more in the news well below.
THE BIG CLIMATE STORY OUTSIDE THE REGION- The majority of the world’s regions most vulnerable to climate change-driven extreme weather are in China, according to research published yesterday by climate assessment firm XDI. In a study of 2.6k regions across the world, researchers found that nine out of the 10 most at-risk regions are in China — largely because the country’s infrastructure investment has focused on areas vulnerable to extreme weather, including coastal zones and river deltas.
In our neck of the woods: Egypt’s Beheira Governorate was the highest-ranked region in MENA in the list (#58) while Saudi capital Riyadh was #330. Fourteen regions in Egypt were among the 500 most vulnerable areas to extreme weather.
The story is getting coverage in the international press: Reuters | AFP | CNBC | South China Morning Post | The Independent.
HAPPENING TODAY- The World Environment, Social and Governance Summit in Dubai starts today and runs through to Thursday. The summit will host discussions on reducing carbon emissions and the urgency to incorporate ESG. Stakeholders from various fields will address the financial and strategic aspects of implementing ESG policies.
THIS WEEK-
Another round of UN Ocean Treaty talks begins in New York: UN talks to establish the world’s first legally binding Ocean Treaty — aimed at establishing rules to protect biodiversity in vast swathes of ocean that lie outside territorial waters — resumed yesterday, and will see representatives from hundreds of countries gather in New York until 3 March, Reuters reports. An earlier round of talks was suspended in August — with financing, how to share the proceeds of “marine genetic resources,” and establishing ocean environmental impact assessment rules for development all being major sticking points preventing a final agreement, the outlet noted. Appetite to finalize the treaty appears to have increased since then, according to experts. But the success of the talks still “hinges on the finance question,” Reuters quoted Greenpeace global policy advisor Li Shuo saying.
WATCH THIS SPACE #1 – Egypt’s renewable energy sector is being eyed by Oman’s sovereign wealth fund for potential investment opportunities, Al Shorouk reported, citing sources with knowledge of the matter. A delegation from the Oman Investment Authority (OIA) visited Cairo earlier this month and expressed interest in investing across a number of sectors in Egypt’s economy, including energy and renewables, the outlet reports. The report comes two weeks after Planning Minister Hala El Said and Sovereign Fund of Egypt CEO Ayman Soliman visited Oman as part of a regional tour aimed at drumming up interest among Gulf investors for the country’s privatization program.
WATCH THIS SPACE #2 – Bahraini officials are discussing a law that could see solar panel integration mandatory for all buildings, Zawya reported last week. Members of the Southern Municipal Council proposed construction permits be granted “only to citizens and residents who submit designs incorporating solar panels for new houses, apartments or buildings,” according to the news outlet. For existing properties, the proposal recommends that owners be given a grace period to allow them time to install and operate solar panels on the rooftops.
WATCH THIS SPACE #3 – The UK is set to clamp down on greenwashing: New UK legislation may see corporations cough up some 10% of their annual income if they are found to be making misleading environmental claims to advertise their products, according to the Guardian. The bill— which UK PM Rishi Sunak says is currently a government priority — would also see the country’s competition regulator impose fines of up to GBP 300k on individuals found to be in breach of consumer law.
WATCH THIS SPACE #4 – Uber to introduce EVs in its India market: Ride-sharing giant Uber has plans to introduce 25k electric vehicles (EVs) to its India fleet over the next three years, Reuters reports. The move comes on the heels of the Indian government’s push for green transportation. The ride-hailing company wants all of its rides to be in zero-emission vehicles by 2040, according to the news outlet.
|
***
YOU’RE READING ENTERPRISE CLIMATE, the essential MENA publication for senior execs who care about the world’s most important industry. We’re out Monday through Thursday at 4am Cairo / 5am Riyadh / 6am UAE.
Were you forwarded this email? Get your own subscription without charge here or reach out to us on climate@enterprisemea.com with comments, suggestions and story tips.
***
CLIMATE DIPLOMACY- KSA, US talk renewables: Progress on renewable energy projects were on the top of the agenda during a meeting held in Riyadh earlier this week between Saudi Energy Minister Prince Abdulaziz bin Salman and a delegation of US Senate members headed by Republican Senate leader Mitch McConnell, a ministry press statement reports. The two countries have been expanding their partnership in green projects — including carbon capture utilization and storage — with Saudi Arabia’s cabinet approving the long-awaited “Partnership Framework for Clean Energy Development” with the US last month. A large number of agreements were also signed in July of last year, Reuters reported at the time.
The UAE and Turkmenistan reaffirmed agreements to boost cooperation on renewables earlier this week, according to a statement. President Serdar Berdimuhamedow met with Deputy Prime Minister Mansour bin Zayed Al Nahyan to discuss the implementation of several large-scale joint projects in a number of fields including renewable energy.
COME TO OUR NEXT ENTERPRISE FORUM-
We’re excited to unveil our next C-level event in Cairo: The Enterprise Exports & FDI Forum, where we will take a deep dive into two of the most critical topics affecting our community.
Interested to learn more about how Egypt is planning on drumming up foreign direct investment (FDI) for all these green hydrogen, solar and wind agreements? Exports and FDI have never been more important to Egypt’s economy — or its businesses — than in the wake of the float of the EGP and the country’s positioning as a regional renewable energy hub. We think there’s a unique chance to build an export-led economy that makes Egypt a magnet for FDI and all the benefits that will come with it.
Want to join the conversation? Drop us a line on events@enterprisemea.com.
CIRCLE YOUR CALENDAR-
The UAE will host the Annual Gulf Ins. Forum from Monday, 27 February to Tuesday, 28 February in Dubai. The event will host panel discussions on sustainable ins. for ESG, the role of Gulf ins. companies in securing renewables, the future of ins. for Autonomous Vehicles (AVs), ins. solutions to address climate change and environmental pollution, and the banking sector’s experience in issuing green and sustainability bonds. You can register for the event here.
Qatar will host the International Conference on Climate Change and Human Rights from Tuesday, 21 February to Wednesday, 22 February in Doha. The conference will gather over 300 participants from governments, think tanks, universities, and human rights institutions to discuss and present climate mitigation and adaptation policies from a human rights perspective.
Egypt will host the CSR Forum from 2-5 March at Somabay, Hurghada. The event aims to further discussions put forth during COP27 and boost private and public sector cooperation on climate action. You can register for the event here.
The Arabia CSR Awards is accepting applications until Friday, 30 June. The awardwinners will be announced during a ceremony on Wednesday, 4 October.
The first MENA Solar Conference is accepting applications from published researchers specialized in PV technology until Sunday, 30 April. The Dubai Electricity and Water Authority will be hosting the conference from 15 to 18 November, in conjunction with the Water, Energy, Technology, and Environment Exhibition and the Dubai Solar Show 2023. Researchers can submit their papers here.
Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.