The UAE has announced a $30 billion investment to launch a climate-focused investment vehicle at COP28, that will set the foundation to establish a more transparent climate finance system and provide funding and access to the Global South. The vehicle …
Rich countries pledge $450M US for climate loss and damage at COP28
Rich countries at COP28 are pledging a small fraction of what’s estimated to be needed to pay for climate change loss and damage, but observers are calling it a start.
VP Harris Calls For a ‘Unified Gaza And West Bank’ As Israel-Hamas War Rages
Harris reiterated support for a two-state solution and detailed ongoing efforts to engage with regional partners on planning for post-conflict …
UAE allocates $2.6bln for clean power projects in Africa
The UAE-led finance initiative allocated nearly $2.6 billion for green energy projects in eight countries that will add about 1.8 gigawatts (GW) of clean power to the African grid, a COP28 Presidency press statement said. The Initiative brings together …
Cities face huge climate finance gap, study says
Cities are receiving only a fraction of the climate finance they need, especially in low-income countries, according to a study published on Saturday on the sidelines of the COP28 climate talks.
BlackRock, TPG, Brookfield team up with $30 billion United Arab Emirates-backed climate investing push
United Arab Emirates-backed Alterra teams up with at least three big North American private-equity shops in its climate push.
Dubai: Flowers made of plastic bottles form stunning garden
Among them, an ‘Arabic flower’ Meez Garden made up of innumerable recycled plastic bottles and a kiosk fashioned from three tons of plastic waste, featuring a compelling portrait of the UAE’s Founding Father, is set to turn heads.
UAE aims for COP28 finance splash with $30 billion climate fund
The United Arab Emirates, host of the COP28 climate summit in Dubai, will put $30 billion into a new climate finance fund aimed at improving the flow of money into projects to reduce emissions, especially in the Global South. The UAE said Alterra aims to …
Nations Launch Climate Loss and Damage Fund on First Day of COP28
Nearly all the world’s nations on Thursday finalized the creation of a fund to help compensate countries struggling to cope with loss and damage caused by climate change, seen as a major first-day breakthrough at this year’s U.
World Bank, UAE lead climate financing boost at Cop28
DUBAI: Governments, development banks and companies announced … action,” Jaber said it included $5 billion to be allocated to poorer countries. The World Bank stepped up with a promise to increase …
World Bank to boost climate financing share to 45%, broaden climate debt clauses
By Valerie Volcovici DUBAI (Reuters) -World Bank President Ajay Banga said on Friday the development lender will devote 45% of its annual financing to climate-related projects by 2025, up from a …
World Bank Group devotes 45 percent of its annual financing to climate-related projects over 2024 to 2025
The World Bank Group (WBG) on Friday said it will increase the amount it spends annually on climate-related projects to 45 percent of its financing over 2024 to 2025, up from 35 percent now, as part …
UAE’s Masdar joins RWE for Britain’s giant Dogger Bank South offshore wind
The deal allowing the United Arab Emirates’ renewables powerhouse to enter into Dogger Bank South was signed by the chief executives of both companies during the COP28 climate summit, which began in …
UK unveils £11 bn windfarm investment by UAE, German firms
UK Prime Minister Rishi Sunak announced Friday plans by UAE state-owned renewables firm Masdar and German energy giant RWE to invest up to £11 billion ($14 billion) in a giant offshore windfarm.”I’m …
COP28 Advisory Board Member Resigns Over Reports UAE Used Climate Talks To Push Fossil Fuels
Sultan Al Jaber, president of this year’s climate summit in the UAE, allegedly used the talks to pursue fossil fuel deals for the UAE’s state-owned oil company …
UAE markets fall on weak oil prices
Stock exchanges in the United Arab Emirates closed lower on Friday on volatile oil prices after OPEC+ producers agreed to voluntary oil output cuts for early next year that fell short of market expectations.
Nations pledge millions to new climate damage fund at COP28, US criticized for its small contribution
Delegates at the COP28 climate talks in Dubai formally adopted a damage fund Thursday to transfer finances to countries hit hardest by the climate crisis.