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Cop28

Cop28 is the climate change conference that was held in Dubai in the United Arab Emirates in 2023

Opec's Haitham Al Ghais told Adipec that the oil industry needs $600bn of investment a year

Lack of oil investment ‘threatens energy security’

The lack of investment in oil and gas is a threat to global energy security, ministers and industry leaders have told the Adipec conference in Abu Dhabi.  “At Opec, we see investments required from now to 2045 for the oil industry alone of around $14 trillion. That’s around $600 billion per year,” Opec secretary general […]

UAE Cop29

Hosting Cop29 ‘not on our radar’, says UAE

The UAE has played down reports that it plans to host next year’s Cop climate change summit, saying it is focused on running a successful Cop28 in Dubai this year.  A Cop28 spokesperson told AGBI that Cop29 “is not even on our radar”.  The UK’s Financial Times reported on Monday that the UAE wants to […]

Adnoc carbon capture

Adnoc doubles carbon capture target to 10m tonnes

Adnoc, the UAE’s biggest oil producer, plans to capture 10 million tonnes of carbon dioxide emissions annually by 2030, up from a previous target of 5 million tonnes. The announcement was made on Sunday, ahead of Adnoc hosting its main annual oil conference, Adipec, this week as the country prepares to host the UN Cop28 […]

Bahrain's Bapco signed the Cop28 oil and gas decarbonisation charter, aiming to achieve net-zero operations by 2050 and end routine flaring by 2030

Al Jaber tells energy industry to defy climate sceptics

Cop28 president designate Sultan Al Jaber has called on the oil and gas industry to “silence the sceptics” and play a pivotal role in the race towards net zero and the fight against climate change. Al Jaber is also minister of industry and advanced technology of the UAE and managing director and group CEO of […]

Sultan Al Jaber Cop28

Al Jaber optimistic about world’s clean energy goal

Cop28 president designate Sultan Al Jaber expects the Cop28 climate summit to reach conensus to treble clean energy sources to 11 terawatts by 2030, he told an assembly at the Climate Future Week in Dubai on Saturday. Speaking at the event, part of a countdown to Cop28, Al Jaber stresssed the need to keep global […]

Turkey's new fund will provide equity financing to green and innovative transformation companies

Download our exclusive insight report on energy

The Middle East remains a global hydrocarbons powerhouse, but it is also ramping up renewables and decarbonising oil and gas. In this special report, AGBI spotlights a bold new era for the region’s energy sector. With Adipec, the world’s largest energy industry event in the UAE, taking place this week, readers will learn what is […]

Mena youth climate anxiety

Climate anxiety rises among Mena youth

More than two-thirds of 18-to-24-year-olds in the Middle East and North Africa (Mena) say they are “very concerned” about the potential impacts of climate change. More than half are ready to boycott brands that damage the environment, a survey shows.  Previously unreleased findings from the 15th annual Asda’a BCW Arab Youth Survey, published earlier this […]

Al Zeyoudi trade climate change

UAE minister urges trade to reduce environmental impact

Trade is the “lifeblood” of the global economy but it needs to urgently play a part in the fight against climate change, a UAE minister said on Wednesday. Dr Thani bin Ahmed Al Zeyoudi, UAE minister of state for foreign trade, conceded that global trade “has one of the biggest contributions to make” to reducing […]

A worker at Shell's Pearl GTL facility in Doha, Qatar. The country has yet to set a net zero target

Majority of Mena countries lack net zero target, IEA warns

Just six out of 17 countries in the Middle East and North Africa (Mena) have set a target for reaching net zero carbon emissions, hampering global efforts to tackle climate change, according to the International Energy Agency (IEA).  The IEA has published a detailed update to its net zero roadmap of 2021. In the report, […]

Metito desalination project in Port Ghalib Egypt

Alpha Dhabi takes over water specialist Metito

Investment company Alpha Dhabi announced on Monday the acquisition of a majority stake in Metito Holdings, a company involved in the water and wastewater industry worldwide.  Pending regulatory approvals, the deal marks Abu Dhabi-based Alpha Dhabi’s entry into the water and wastewater sector, with its CEO saying the need for sustainable water solutions “has never […]

Dr Sultan bin Ahmed Al Jaber, Cop28 president-designate, opened trading on Wall Street at the New York Stock Exchange on Tuesday

Fossil fuel phase-down ‘inevitable’ says Al Jaber

Cop28 president-designate Sultan Al Jaber this week implored world leaders to cut reliance on fossil fuels to meet carbon reduction targets.  Addressing the UN Climate Ambition Summit in New York, Al Jaber – who is also group chief executive of Abu Dhabi National Oil Company – urged nations to fast track the transition to a […]

aviation offsets

Aviation offset rules face shake-up as doubts persist

An imminent change to rules governing aviation carbon offsets ahead of the Cop28 climate conference may not be enough to convince airlines and others they have a meaningful effect, it has emerged. Aviation, like steel- and cement-making, is a hard-to-abate industry. It is difficult for companies within the sector to reduce emissions of carbon dioxide […]

A Bako electric car in Sidi Bou Said, Tunisia. Clean transport is one of the many sectors that can benefit from HSBC's $1bn fund

Mena companies can tap $1bn HSBC climate tech fund

HSBC has set aside $1 billion to help finance early-stage climate tech companies around the world, and “transformative investment opportunities” exist in the Middle East and Turkey, according to its regional chief.  “The Middle East has a key role to play in the transition to a net zero global economy,” said Patricia Gomes, regional head […]

“Climate change is already dramatically affecting us,” says IMF head Kristalina Georgieva

IMF lends Morocco $1.3bn to fight climate change

The International Monetary Fund is to lend Morocco $1.3 billion to help the country guard against climate-related risks. The staff-level agreement was confirmed by Kristalina Georgieva, managing director of the IMF, who said the funding would be used to build resilience against future climate disasters. “Climate change is already dramatically affecting us,” Georgieva said in […]

Climate health risks

Al Jaber: climate change health risks need more investment

Cop28 participating nations must increase financing to identify and mitigate climate change’s risks to human health, the summit’s president designate Sultan Al Jaber has said. “The connection between health and climate change is evident, yet it has not been a specific focus of the Cop process – until now,” Al Jaber told the UN General […]