Good morning, friends. It’s a busy start to the week and we have a lot of ground to cover — starting with an announcement:

We’re only one week away from meeting with some of you at the Enterprise Exports and FDI Forum, taking place at the Four Seasons at the Nile Plaza on Monday, 15 May.

We’re proud to announce that our friend Hossam Sallab, CEO and vice chairman of Sallab Group and Royal Ceramica is joining us for the forum. Are you? Hossam Sallab will be speaking on the foundations of setting up an export-focused business. He will be joined on stage for that discussion by Mark Wyllie, CEO of Beyti and Kareem Abou Ghaly, chairman and CEO of Pasta Regina who will share their playbook on how to create an export and FDI strategy.

They’re not the only ones: Among the CEOs, top execs, bankers, and development finance folks speaking at the conference are: Tarek Kamel, CEO of Nestle Egypt; Omar Elsahy, CEO of Amazon Egypt, Khaled Morsy, CEO of DB Schenker Egypt; Shady William, managing director of IDG; Mohamed Talaat Khalifa, CEO of Concrete; Abdallah Sallam, CEO of Madinet Masr; Tarek Hosny, head of investments and projects at Fertiglobe; Nadia El-Tawil, investment officer at AfricInvest; Mostafa Bedeir, CEO of Giza Seeds and Herbs; Helmi Ghazi, deputy CEO of HSBC Egypt; Nada El Ahwal, CSO of Transmar; Hassan Massoud, associate director and head of private equity (Southern Mediterranean), European Bank for Reconstruction and Development (EBRD); Hossam Abou Moussa, partner at APIS; Yassir Zouaoui, partner at McKinsey; and Mohamed El Gebely, Team Leader at USAID Trade.

Topics and live interviews will include:

• Why exports and FDI are the way forward and what lessons have worked from around the world;
• How to attract foreign partners and figure out what they are looking for;
• What lessons can we draw from white goods, fertilizers, and garments exporters who have increased our exports;
• What it takes to secure a place in a multinational’s supply chain.
• How industrial clusters could expedite exports, FDI and possibly be an avenue for SME development;
• What are the industries of tomorrow around which we can export and bring in FDI.

For the full agenda please click here.

** Have you confirmed your attendance? Invitations have been sent out over the past few weeks. If you have yet to confirm your attendance and would still like to join us, please reply to the invitation with an RSVP.

WANT TO BECOME A COMMERCIAL PARTNER? Ping a note to Moustafa, our head of commercial, here.

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OUR TOP CLIMATE STORY- Australia-based renewables firm CWP Global inked an agreement with German hydrogen logistics firm Hydrogenious LOHC Technologies to conduct a feasibility study on a green hydrogen transport chain from Morocco to Europe and Saudi Arabia’s SABIC Agri-Nutrients has shipped its first 5k ton load of low-carbon ammonia to India.

^^ We have the details on these stories and more in the news well, below.

HAPPENING TODAY- The UAE is hosting the Global Green Future Fuel conference from today through to Wednesday, 10 May in Dubai. The green energy-focused business event brings together policymakers, renewable energy generators, project developers, and chemical and mobility industry representatives to define a new energy future shaped by hydrogen.

THE BIG CLIMATE STORY OUTSIDE THE REGION- Climate change may push 3 mn Brazillians into extreme poverty, according to a World Bank report out last week. The South American country could soon reach a tipping point seeing the Amazon Rainforest unable to sustain wildlife and function as a natural carbon sink due to scant rainfall as a consequence of climate change, leading to USD bns in losses. In the most extreme scenario envisaged by the World Bank, deforestation, pasture expansions, and climate-induced shocks would translate to losses adding up to some USD 184 bn by 2050 — nearly 9.7% of the country’s current GDP, with “serious consequences for agriculture, water supply in cities, flood mitigation, and hydroelectric power generation” expected, according to the bank. Extreme weather events are already being felt in Brazil, with the impacts of global warming setting back the country nearly USD 2.6 bn annually on average. The story was picked by Bloomberg and Reuters.

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OVER IN COPLAND- We have a preliminary thematic schedule: COP28 has released the first high-level draft of its program revealing its planned thematic days, according to the COP28 website. The program includes 12 key themes: Health; Relief, Recovery, and Peace; Nature, Land Use, and Oceans; Food and Water Systems; Just Energy Transition; Industry; Trade; Youth, Education, and Skills; Finance; Gender Equality; Cities, Regions, and Urbanization; and Transport. While some days have two themes scheduled, “this will not result in reduced programming for the theme,” according to the website. Each day will also incorporate themes that are actionable and deliverable including tech and innovation, inclusion, frontline communities, and finance. All stakeholders can share feedback on the draft by 28 May.

ALSO- Stakeholders at a cement and concrete decarbonization workshop organized by the UAE’s Ministry of Climate Change and Environment suggested that a cement and concrete decarbonization roadmap be set up for the climate conference in November, according to a press release.

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WATCH THIS SPACE #1- Egypt ramps up the EV push: The Egyptian government will pay EGP 50k-70k in incentives to consumers looking into buying electric vehicles as part of a strategy to promote the country’s EV industry in the country, Finance Minister Mohamed Maait told El Hekaya (watch, runtime: 31:44). It will reimburse manufacturers some 30-40% of total EV manufacturing cost under a push to develop a local EV industry.

REMEMBER- The electric vehicle industry in Egypt is still nascent, but the government is pushing with efforts to localize the industry as part of its hotly anticipated automotive strategy. Several companies, including leading global and local manufacturers, have recently announced plans to start local production.

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WATCH THIS SPACE #2- Aramco could build an ammonia cracking plant in Rotterdam: Several leading energy firms including Saudi Arabia’s Aramco, BP, ExxonMobil, Shell, and others could move ahead on a large-scale ammonia cracking plant at the Port of Rotterdam after a preliminary study (pdf) found the project technically and economically feasible. The plant would be capable of producing 1 mn tons of hydrogen per annum. The study — which was commissioned by the port authority and 17 companies in the proposed project — looked at possible setups for the storage and distribution of the ammonia imported. The next step will be a detailed licensor evaluation study for the plant including a defined location, capacity per location, and ship offloading and storage locations.

WATCH THIS SPACE #3- The EU may leave an option for member states to remain in the Energy Charter Treaty: The EU Commission will likely leave room for member states to remain in an “updated version” of the 1998 Energy Charter Treaty (ECT), Reuters reports, citing bloc proposals it has seen. A new update on the 25-year-old charter is set to be discussed this week, and is planned to leave space for countries like Cyprus, Slovakia, and Hungary — who have signaled preference to remain in a modernized version of the energy treaty — to remain in the accord, the news outlet notes. Last month, Denmark said it would quit the charter over the group’s continued protection of oil and gas projects. Although treaty members negotiated reforms last year in a bid to address climate concerns, failures to address support for fossil fuel projects have led the EU Commission to say a joint bloc exit from the agreement would be “inevitable.” France, Germany, Poland, Spain, and the Netherlands separately announced plans to exit the treaty, the news outlet notes, and Italy withdrew from the ECT in 2015.

WATCH THIS SPACE #4- The US will earmark USD 4 bn to decarbonize its ports and slash transport sector emissions, according to an Environmental Protection Agency statement. The US government is reportedly “seeking input” for its USD 3 bn Clean Ports program and the USD 1 bn Heavy Duty Vehicle initiative, the statement notes, adding that the agency is studying the feasibility of zero-emission trucks, port infrastructure, and equipment, as well as electrical charging stations and other infrastructure needed for net zero technologies.

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WORTH READING- Rate hikes are bad news for climate change: Interest rate hikes enacted by central banks to tame surging inflation could decelerate the renewable energy transition, The Guardian writes. High rates protect leading oil and gas producers from competition from emerging low-carbon energy producers, allowing these producers to continue expanding revenues from their decaying assets.

DATA POINT- The world will need to invest USD 600 bn by 2030 to halve oil and gas emissions, according to a new report by the International Energy Agency (IEA). Fossil fuel emissions must be halved by the end of the decade to reach the IEA’s net zero target for 2050, which will require some USD 600 bn to curb the intensity of carbon output generated by the oil and gas sector through investments in eliminating non-emergency flaring, carbon capture tech, low-carbon electrification, and increased hydrogen production, the IEA notes.

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THE DANGER ZONE- Iraq is turning to international support to help prevent its Euphrates and Tigris rivers from shrinking due to climate change-driven conditions, Bloomberg quotes Iraqi Prime Minister Mohamed Shia Al-Sudani as saying. Iraq has devised a climate strategy leading up to 2030 that includes carbon capture, offering incentives to farmers to switch to modern irrigation tech, and integrating the use of renewable energies. The government has also launched a council to create a water security strategy and is planning a seawater desalination project to supplement the short supply of fresh water from the two major rivers.

REMEMBER- Iraq is battling desertification: Iraq needs USD mns to combat desertification and is looking to raise some USD 100 mn to launch reforestation efforts and bolster food security. Nearly 70% of the country’s land mass is under threat of climate-induced desertification. Iraq will need some USD 233 bn in additional investment to pursue its green growth path by 2040.

ALSO- North Africa and Iberia both recorded climate-induced spring highs this year: Morocco recorded record-breaking highs averaging over 41°C in Marrakesh in April, according to the New York Times. Across the Strait of Gibraltar, Spain’s southern city of Cordoba recorded an April high of 38.8°C, which along with Morocco’s mercury readings, would have been “impossible” without the impacts of climate change, according to research by the World Weather Attribution cited by the news outlet.

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CIRCLE YOUR CALENDAR-

Egypt is hosting The Solar Show MENA tomorrow and Wednesday in Cairo. The conference brings together policymakers, financiers, and others to develop and futureproof the region’s energy sector as one of the emerging players in developing clean energy solutions and energy infrastructure.

The UAE is hosting The Airport Show tomorrow through to Thursday in Dubai. The forum’s 22nd edition will bring together over 200 aviation companies and more than 100 buyers from 23 countries. It will shed light on leading innovations in airport sustainability, digitalization, and urban air mobility to facilitate the industry’s path towards sustainable and collaborative airport infrastructure development and operational transformations.

The UAE is hosting the UAE Climate Tech forum this Wednesday and Thursday in Abu Dhabi. The event will gather over 1k policymakers, CEOs, experts, and investors to discuss collaboration on innovative technologies and economic opportunities in advancing decarbonization across all sectors.

The first MENA Solar Conference is accepting applications from published researchers specialized in PV technology until next 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 and news triggers.