TODAY: ECARU, Qalaa Holdings, and France’s Axens set to conduct studies for biofuel and SAF production in Egypt
Good morning, ladies and gents. After an avalanche of news yesterday, the news cycle has slowed, culminating in a light and brisk issue for you to breeze through this morning.
THE BIG CLIMATE STORY- The Egyptian Company for Solid Waste Recycling, Qalaa Holdings, and France's Axens signed a cooperation protocol to conduct technical and economic studies for second-generation biofuel and sustainable aviation fuel production projects.
ALSO IN OUR NEWSWELL- Make sure you read part one of our conversation with Egypt’s climate champion Mahmoud Mohieldin to find out why he thinks a fast tracked evolution of MDBs is vital for the energy transition.
^^ We have more details on these stories and more, below.
THE BIG CLIMATE STORY OUTSIDE THE REGION- Thunberg’s in lukewarm water: Swedish climate activist Greta Thunberg was forcibly carried away by police from a protest in Malmo hours after a local court fined her for disobeying a police order during a climate protest in June. Thunberg, who pleaded not guilty on grounds that she was acting out of necessity, was fined SEK 1.5k (USD 144) and an additional SEK 1k to the country’s fund for crime victims. The fine comes a few weeks after Thunberg and other activists from the Reclaim the Future group blocked the road for trucks carrying oil at the Malmo harbor. She was charged for failing to follow police orders to leave at the time.
Thunberg’s slap on the wrist got ink in the international press: Bloomberg | Reuters | The Associated Press | AFP | The Guardian | CNN | BBC
WATCH THIS SPACE- Algeria, Irena team up on renewables and green hydrogen: Algeria’s Energy and Mining Minister Mohamed Arkab met with International Renewable Energy Agency (Irena) Director Francesco La Camera in Algiers to build cooperation on climate financing and knowledge transfer in the mining and green hydrogen sectors, according to a statement. The meeting came on the sidelines of the opening ceremony for bid submissions for 15 solar plants with a total capacity of 2 GW to be installed across 12 states in Algeria.
Forging ahead with plans? Last January, Algeria charged state-owned gas company Sonelgaz with the production of 15 GW by 2035 from renewables. The meeting comes days after Algeria got the boot from an ambitious European hydrogen plan on the back of diplomatic tensions with Madrid. Earlier this year, Arkab met with a delegation from Saudi Delta Company to discuss potential investments in renewables and green hydrogen through Algeria’s state-owned oil firm Sonatrach.
CIRCLE YOUR CALENDARS- The Enterprise Finance Forum is taking place on 18-19 September at the St. Regis Hotel in Cairo. This flagship forum is the latest in our must-attend series of invitation-only, C-suite-level gatherings that allow senior members of our community to openly and frankly discuss critical issues in key sectors of the economy.
TAP OR CLICK HERE if you want to express interest in attending. We’ll be sending out the first batch of invitations soon.
Do you want to become a commercial partner? Ping a note to Moustafa Taalab, our head of commercial, or fill out this form and we’ll be in touch.
DID YOU MISS THE ENTERPRISE EXPORTS AND FDI FORUM? Tune in to the Enterprise Podcast and listen for yourself: The Enterprise Podcast is back with another installment of our forum series, where we bring you audio recordings of what was said on stage at the Enterprise Exports and FDI Forum, which took place in May.
WANT TO LISTEN? Head to: Apple Podcast | Spotify | Google Podcast | Anghami. We’re releasing a new episode every Sunday morning.
IN THIS WEEK’S EPISODE- We ask some of the biggest multinationals and suppliers operating here — namely, in logistics, e-commerce, and FMCG — what it is they’re looking for in a local partner, product or service and what are some of the pain points they’ve had to cope with. We were joined on that panel by Khaled Morsy, CEO of DB Schenker Egypt, Omar Elsahy, General Manager at Amazon Egypt, Tarek Kamel, Chairman and CEO of Nestlé Egypt and Sudan.
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THE DANGER ZONE- Climate change is warming the Mediterranean Sea and increasing its salinity, according to a new report by the Spanish Institute of Oceanography (IEO). A 31-year study period has concluded that global warming has increased the temperature and salinity of the Mediterranean from its uppermost layer and throughout its depth range. The surface layer of the Alboran Sea — the westernmost portion of the Mediterranean between North Africa and the Iberian Peninsula — is warming at a 2ºC/century rate, while surface waters of other parts in the Western Mediterranean are warming at close to 3ºC/century, the institute says. The IEO says the Mediterranean also showed a rise in sea level of around 2.8mm/year over the study period, with a significant intensification of the trend since the early 1990s. In 2021, a UN report (pdf) estimated that oceans absorbed about 30% of total CO2 emissions and trapped approximately 90% of the heat generated by greenhouse gas emissions. The increase in heat absorption is causing ocean acidification, deoxygenation, and sea level rise.
CIRCLE YOUR CALENDAR-
Sweden will host World Water Week from Sunday, 20 August to Wednesday, 24 August in Stockholm. Organized by the Stockholm International Water Institute, the event will bring together policy makers, NGOs, and private sector players to discuss innovative solutions to managing water and how to tackle food security, biodiversity, and climate change.
The US will host the International Conference on Recycling and Waste Management and the International Conference on Environmental Sustainability and Climate Change
from Monday, 21 August till Tuesday, 22 August in Philadelphia. The waste management conference will gather environmental engineers, and recycling, wastewater treatment, and climate researchers to discuss trends and innovations in plastics recycling, wastewater treatment, and renewable energy. The sustainability and climate change conference will bring together researchers and industry leaders to spotlight innovations in environmental science, climatology, renewable energy, and pollution control.
The Dominican Republic will host the COP27 Transitional Committee from Tuesday, 29 August to Friday, 1 September. The meeting aims to establish institutional arrangements, modalities, governance structures, and terms of reference for the landmark Loss and Damage Fund. It also wants to expand sources for climate funding under the program.
Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.