UAE + MENA Fintech Association make sustainability pledge: The UAE’s Climate Change and Environment Ministry and the Middle East and North Africa Fintech Association (MFTA) have launched the Sustainable Fintech Pledge with the aim of integrating sustainability practices at fintech companies, Wam reported yesterday. The pledge outlines five core principles: Embedding sustainability in business operations, maintaining transparency and accountability, inspiring change beyond organizational boundaries, unlocking climate innovation in finance, and encouraging the development of sustainable fintech products and services. Signatories of the pledge include the Abu Dhabi Global Market, the Dubai International Financial Centre, and Building Products Company.

KSA officials, business leaders discuss funding for the energy transition + establish business council: Government officials and private sector leaders from Saudi Arabia and Estonia held a three-day investment forum last week where they discussed potential funding in technology, startups, and the energy transition, Arab News reported on Thursday. The Saudi-Estonian Investment Forum — held in Tallinn, Estonia — also saw the establishment of a business council between the Council of Saudi Chambers and the Estonian Chamber of Commerce and Industry.

Six energy and chemical companies are developing a roadmap for the import of green hydrogen to Bavaria, Germany from North Africa, according to a joint statement (pdf) published on Wednesday. The six giant German and Austrian based companies — Bayernets, Bayernoil, Gas Connect Austria, Wacker, Westlake Vinnolit, and Verbund — will be looking to transport the green fuel via existing natural gas pipelines repurposed for hydrogen use, cutting costs and allowing for scalability, the statement said. The consortium is looking at transporting the hydrogen from Tunisia via Italy and Austria. Once completed, the hydrogen pipeline will be available for use by other market participants.

REMEMBER- Existing natural gas pipelines may become an essential asset in the green transition, offering the MENA region an edge due to its extensive natural gas pipelines, including the Arab Gas Pipeline and the EastMed pipeline. Bavaria’s existing gas infrastructure is also expected to play an important role in Europe’s hydrogen network, according to the statement.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

• Jordan’s Energy and Mineral Resources Ministry signed an MoU with 11 hotels in Aqaba to enable them to implement energy conservation projects under the country’s JD 3 mn (c. USD 4.2 mn) Tourism Sector Energy Efficiency Program. (Jordan News Agency)
• Dubai-based multinational logistics company DP World is converting 22 diesel-powered cranes to electric power in Brazil’s leading multipurpose terminal Port of Santos. (Wam)
• The UAE Council for Environmental and Municipal Work has approved a plan for phasing out single-use plastics by 2024. (Wam)
• Bahrain’s Electricity and Water Authority is working on establishing five rapid electric car charging stations in the country. (The Daily Tribune)