Category: ESG Middle East
The Potential of AI in UAE Investment in Artificial Intelligence (AI) is poised to significantly boost the UAE’s economy, potentially adding an extra Dh335 billion ($91.28 billion) by 2031. This...
Egypt’s Ministry of Electricity and Renewable Energy has approved a $900 million bid from the Abu Dhabi Future Energy Company (Masdar) to develop solar power plants in Upper Egypt, including...
The Ministry of Energy and Infrastructure (MoEI) and the Ras Al Khaimah Petroleum Authority (RAKPA) have signed a Memorandum of Understanding (MoU) to strengthen their collaboration on sustainable energy initiatives...
Qatar’s renewable energy efforts are ramping up with the launch of the ‘BeSolar’ service by the Qatar General Electricity and Water Corporation (Kahramaa). This new initiative is a significant step...
DP World has secured validation from the Science Based Targets initiative (SBTi) for its ambitious carbon reduction targets. The SBTi, a leading authority on corporate climate action, endorsed DP World’s...
Dubai Chamber Launches ESG Label for Businesses The Dubai Chamber of Commerce has unveiled its new Environmental, Social, and Governance (ESG) Label, a strategic initiative to promote sustainable business practices...
Middle Eastern Banks Invest $500M in Malaysia’s Pengerang Energy Complex Leading Middle Eastern banks and financial institutions have invested $500 million to finance Malaysia’s Pengerang Energy Complex, a facility that...
Forbes Middle East has announced its fourth annual list of the Top 100 CEOs in the region, shining a spotlight on the leaders driving success across diverse industries. This year’s...
Etihad Rail, the UAE’s rail network developer and operator, has taken a significant step towards sustainability by launching a Sustainable Finance Framework. This framework is designed to align future financing...
Aramco has signed a Memorandum of Understanding (MoU) with King Abdullah University of Science and Technology (KAUST), pledging up to $100 million over the next 10 years to fund research...
Gulf International Bank (GIB) Asset Management (UK) has appointed Victoria Barron as Chief Sustainability Officer. Barron will spearhead GIB’s sustainability agenda, enhancing governance frameworks and corporate sustainability projects. Barron brings...
Corporate Sustainability vs. Employee Priorities In the Middle East, while companies focus heavily on ESG and sustainability, employees are more concerned with personal benefits such as fair pay and career...
Masdar, the UAE’s clean energy leader, has signed an agreement with TotalEnergies to explore a commercial project converting green hydrogen to methanol and then to Sustainable Aviation Fuel (SAF). The...
Key Impact Points: Qatar has successfully raised $2.5 billion through its first-ever green bond issuance, marking a significant milestone in the Gulf state’s financial landscape. The bonds are split into...
Einride, a freight mobility company that provides digital, electric and autonomous technology, announced today its partnership with DP World, a renowned global leader in supply chain solutions headquartered in Dubai. The...
Elevating the UAE’s Position in Global Logistics: The New FedEx Hub Highlights Innovation and Efficiency FedEx Express (FedEx), a subsidiary of FedEx Corp. and the world’s largest express transportation company,...
In a significant initiative that reinforces its leadership in safety infrastructure and innovation, Dubai Civil Defense has launched the world’s first sustainable mobile floating fire station. The initiative reflects Dubai’s...
ASMO is envisioned to meet the growing demand for more sustainable and efficient supply chain services in Saudi Arabia, while at the same time reflecting the expanding market potential of...
Geidea, recognized as one of the 25 top Fintech companies by Forbes Middle East, renowned for its innovative solutions and substantial market impact proudly announces its strategic partnership with Fils, a...
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has presided over the annual meeting of the ADNOC Board of Directors in his capacity as its Chairman. During the...
New carbon footprint reduction offering enables corporations to seamlessly offset their carbon footprint as part of their daily cash management activities Mashreq, one of the leading financial institutions in the...
Key Impact Points: Schneider Electric, a leader in the digital transformation of energy management and automation, has launched its latest research report by the Schneider Electric™ Sustainability Research Institute (SRI),...
Yingli Energy Development Co., Ltd. (Yingli Solar) has recently penned an agreement to supply modules. Under the terms, Yingli Solar will provide 1.25 GW of their high-efficiency Panda N-type TOPCon PV modules...
First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and strongest financial institutions, announced that it will lend, invest and facilitate over AED500 billion...
In a continued effort to address the global climate crisis, the Arab Coordination Group (ACG), a strategic alliance of regional and international development institutions, announced at COP 28 in Dubai,...
Avrio has announced that its Digital Financial Market Infrastructure (DFMI) is now available in the Abu Dhabi Global Markets Financial Services Regulatory Authority Digital Lab (Lab), delivering a suite of...
Abu Dhabi will host a pioneering Global Climate Finance Centre (GCFC), that will accelerate the development of climate finance frameworks and skills, and champion best practices in the UAE and globally. The...
Dubai offers a perfect blend of modernity and tradition, making it an ideal destination for delegates attending COP28. From world-renowned landmarks to cultural experiences, there’s something for everyone in this...
Related Article: Top 5 Must-See Attractions While in Dubai for COP28 Visiting Dubai for COP28 can be a chance to put these sustainable practices into action. Traveling sustainably not only...
EU Climate Commissioner and Chief COP28 Negotiator Wopke Hoekstra met with COP28 President Designate Dr Sultan Al Jaber to discuss the preparations for COP28, which will take place in Dubai, United Arab...
The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad, signed 14 new development loan agreements worth $580m with 12 African ministers to fund projects in Angola, Burkina...
The livelihoods of over half a billion people in the Middle East and North Africa (MENA) are under threat, as current projections indicate a 4C increase by 2050. A new...
ADNOC announced, the final investment decision and award of contracts for the Hail and Ghasha Offshore Gas Development project. The project aims to operate with net zero carbon dioxide (CO2)...
Aramco (“the Company”), one of the world’s leading integrated energy and chemicals companies, is further advancing the development of emissions reduction solutions including lower-carbon hydrogen, Direct Air Capture (DAC) of...
Saudi Arabia is taking significant steps to address climate change by launching the Greenhouse Gas Crediting and Offsetting Mechanism (GCOM), a domestic market mechanism aimed at reducing greenhouse gas emissions...
Under the directives of the UAE President, His Highness Sheikh Mohamed bin Zayed Al Nahyan, HH Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of Abu Dhabi...
ADNOC and Occidental announced an agreement to undertake a joint preliminary engineering study for the construction of the first megaton-scale direct air capture (DAC) facility outside the United States (US). ...
ADNOC and Fertiglobe, the strategic partnership between ADNOC and OCI Global, announced the pilot deployment of the world’s first cost-effective modular CycloneCC carbon capture unit at Fertiglobe’s 100% owned nitrogen...
The United Arab Emirates (UAE) has committed $4.5 billion to significantly scale up renewable energy development in Africa to 15 gigawatts (GW) by 2030. The initiative is the first of...
The COP28 UAE Presidency has launched its Water Agenda during World Water Week in Stockholm, which took place from August 20 to 24. COP28 announced its top priority areas, which include conserving and restoring freshwater...
A landmark new investment by IFC is aiming to boost access to finance for Türkiye’s SMEs–with a focus on women-owned smaller businesses and those helping the country adapt to climate...
Masdar announced the successful completion of its first green bond issuance for US$750 million 10-year senior unsecured Notes today. There was exceptionally strong appetite from regional and international investors with...
ADNOC, announced that it has begun construction on the Middle East’s first high-speed hydrogen refueling station. The station, which is being built in Masdar City by ADNOC, will create clean...
Turkey’s first and only carbon trading platform, Erguvan (erguvan.co), has offset the carbon emissions of airport operator TAV in Ankara, Izmir and Enfidha. TAV supported two Verra-licensed projects, one of the leading...
A new project approved by the Board of the World Bank will help increase the use of renewable energy in public facilities in Türkiye. The $549 million Public and Municipal Renewable...
NEOM Green Hydrogen Company (NGHC) announced that following signing financial documents with 23 local, regional, and international banks, and investment firms, it has now achieved financial close on the world’s...
The United Arab Emirates’ COP28 president designate Sultan al-Jaber said on Wednesday the oil and gas industry should phase out its methane emissions by 2030 and that investment in technology...
GE announces that it has been selected by Ecogreen Energy to deliver its FLEXINVERTER Solar Power Station technology for the 130 MWp, 100 MWac Nigde Bor Solar power plant to be...
Marubeni Corporation signed a MOU with the Public Investment Fund (“PIF”), one of the world’s largest and most impactful sovereign wealth funds, to set out a framework for the development...
During the year, the EU bank committed €150 million in support for a large-scale urban regeneration project which aims to make Cypriot municipalities greener, boost the economy, and improve the...
JERA Co., Inc. has entered into a Memorandum of Understanding with Abu Dhabi National Energy Company P.J.S.C. (“TAQA”), one of the largest listed integrated utilities in the Middle East, that...
Dubai Islamic Bank, the biggest Islamic lender in the United Arab Emirates, is set to raise $1 billion from a sale of long five-year sustainable sukuk, a bank document showed...
Climate change is the biggest challenge of our time and the single greatest threat to a sustainable future. Increased human-induced emissions of heat-trapping greenhouse gases are altering the Earth’s climate,...
United Arab Emirates renewable energy company Masdar and Ethiopia have signed an agreement for the joint development of a solar project with a capacity of 500 megawatts, Ethiopia’s prime minister...
Islamic Development Bank Group (IsDB) President and Group Chairman, H.E. Dr. Muhammad Al Jasser, announced a US$4.2 billion IsDB Group commitment to support Pakistan’s climate resilience efforts and development agenda and the country...
Abu Dhabi, UAE – January 5, 2023: ADNOC, a reliable and responsible provider of lower-carbon intensity energy, today announced a bold new strategy to progress the world-scale decarbonization of its operations. ...
LuLu Group, whose flagship hypermarket chain powers the MENA region as one of the largest and fastest- growing retail chains, will be launching an ambitious ESG campaign this month which...
Rebound Plastic Exchange, a quality assured global trading platform for recycled plastics, will ensure transparency whilst facilitating cross border trade to unlock circularity worldwide Rebound Plastic Exchange, a global B2B...
Jindal Shadeed Group will invest more than $3 billion to set up a green steel plant in Oman that will produce high-strength automotive products for customers in the Middle East, Europe...
Why it Matters: Sustainability-Linked Loans (SLLs) are transforming corporate finance by tying borrowing costs directly to ESG performance. For Majid Al Futtaim (MAF), this $1.25 billion facility isn’t just capital—it’s a...
The construction of one of the world’s largest wind farms in Egypt is set to start in 2024 and could provide electricity to Europe and Saudi Arabia, according to one...
Kuwaiti Foreign Minister Sheikh Salem Abdullah Al-Jaber AI-Sabah affirmed Monday Kuwait’s commitment to reaching carbon neutrality by 2050 in the oil and gas sector and in other sectors by 2060....
Logistics Giant Targets 700,000 Tonne $CO_2$ Reduction Through Global Fleet Electrification DP World, the Dubai-based global logistics and ports powerhouse, has signaled a major shift in industrial sustainability with a commitment to...
QNB Alahli participates in COP 27 hosted by Egypt in Sharm El Sheikh QNB Group, the largest financial institution in the Middle East and Africa, announced its participation in the 27th session of the United Nations Conference on Climate...
The fund’s initial focus areas will include carbon capture and storage, greenhouse gas emissions, and hydrogen, ammonia and synthetic fuels Saudi Arabia aims to reach net zero emissions by 2060...
Secondary Headline (H2):Analyzing FAB’s 5-Year $2.2 Billion Green Bond Issuance and Market Impact The landscape of sustainable finance in the Middle East saw a pivotal shift when First Abu Dhabi Bank...
The Public Investment Fund (PIF) is offering the world’s first 100-year dollar-denominated bonds Nearly $18 billion in demand for the bonds Saudi Arabia plans to increase renewable energy production to...
The United Arab Emirates (UAE) announced during New York Climate Week the establishment of the UAE Independent Climate Change Accelerators (UICCA). The UICCA is a non-partisan, climate action entity that...
Deal is expected to raise billions of dollars Proceeds earmarked for projects including renewable energy, clean transport and green buildings Crown prince has committed to investing $40 billion in local...
Saudi Arabian company Alfanar said on Monday it has signed a memorandum of understanding to build a $3.5 billion green hydrogen project in Egypt. The facility will produce 500,000 tonnes...
DIF will be monitoring global and local ESG markets to find out promising investment opportunities and stay on top of this new trend. Dubai Investment Fund (DIF), one of world’s...
Rivulis Pte. Ltd. (“Rivulis”) announced today that it has signed definitive agreements with 5 banks for the financing of its current and future debt for an amount of up to US$250,000,000....
World Bank and S&P Global Market Intelligence container port performance index shows ports in the Middle East and East Asia responded best to the heavy volume growth and service volatility caused by impacts of...
Finding finance for exciting environmental, social, and governance projects that have huge potential to achieve sustainability is now turning out to be a challenging task, according to Goldman Sachs Managing...
The ‘E’ element in ESG, which stands for ‘environment’ is not just a choice now, but a necessity, according to Vincent Keaveny, Lord mayor, City of London. While speaking at...
Agreement to assess implementation of lower-emissions technologies in Indonesia Builds on memorandum of understanding signed at COP 26 Collaboration will support Indonesia’s 2060 net-zero ambition ExxonMobil and Pertamina, the state-owned...
Download Arabic Version Ali Al Baqali, the Chief Executive Officer of Aluminium Bahrain B.S.C. (Alba) rolled out the Company’s approved Environment, Social and Governance (ESG) Roadmap by the Board of...
Chevron Corporation, through its subsidiary Chevron New Ventures Pte. Ltd., and Indonesia’s PT Pertamina announced a partnership to explore potential lower carbon business opportunities in Indonesia. Aimed at serving local...
Download Arabic Version The world’s largest smelter ex-China Aluminium Bahrain B.S.C. (Alba) continues to lead in Sustainability as it has been recognised as the top Company in Bahrain on the...
Electric vehicle (EV) battery startup Britishvolt and VKTR, part of Bakrie & Brothers’ (BNBR.JK) auto unit, said on Tuesday they would develop sustainable nickel refining capacity in Indonesia and look into building...
ADGM – the first regulator in the world to develop a framework to support carbon as a commodity Corporates can trade and finance carbon credits like conventional financial assets The...
Dubai, United Arab Emirates High-level event convenes industry leaders and UN Global Compact participants from across the world Responsible investment strategies aligned with the 17 Sustainable Development Goals (SDGs) proved...
Globally, ESG investments continue to rise. ESG assets are on track to exceed $53 trillion by 2025 and represent more than a third of the $140.5 trillion in projected total...
Firm is a crucial part of UAE’s aim to be net zero by 2050 Persian Gulf petrostates increasingly weighing green bonds Abu Dhabi’s state oil producer is considering a sale...
Aster DM Healthcare is the only listed company from Middle East and India to be featured in this prestigious list for 2022 The ranking is based on a rigorous assessment...
Pakistan, which has sought almost 20 bailouts from the International Monetary Fund over half a century, wants to end its reliance on the multilateral lender by shrinking deficits and tapping capital markets...
In line with its global $1.5 billion-backed ESG ambition, KPMG is stepping up its investments in the Middle East ESG practice. Newly appointed to lead the charge is Fadi Al-Shihabi,...
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