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energy

How can the fintech industry spearhead the MENA’s ESG commitments?

by Mohammad Ghazal 2 years ago

written by Mohammad Ghazal

FinTechs, these start-ups and smaller companies that specialise in different aspects of the financial sector- are in a unique position to build Environmental, Social and Governance (ESG) criteria into the fabrics of their businesses. As a relatively new sector, there is an opportunity to mould the future of fintech, whilst nudging other financial services to make socially and environmentally positive changes and help the MENA region in meeting its global climate and social impact commitments.

The primary goal of a Fintech as we know is to assist businesses and customers to manage their financial operations and eliminate the friction that they experience with standard financing offerings across various categories including payments, insurance, mortgages, personal finance, etc.

Over the last few years, the topic of ESG and sustainability in the finance sector has been growing in popularity, along with a demand for sustainable finance solutions from customers and investors.

In my career advising fintech start-ups with their ESG and sustainability journey It was clear that due to their lean business model, they are in a much stronger position than the larger financial institutions to embed ESG within their products and services and this is why this industry is becoming one of the industries that the MENA governments are focusing on developing it so that they can help them achieved their UN Sustainable Development Goals and Green Agenda.

To date according to Statisca there are 800 FinTechs in the region with the majority having presence in UAE (400) followed by Saudi (155) and Bahrain (100). The Saudi government anticipates that their country based FinTechs will contribute to SAR 13.3Bn in GDP, 18,000 jobs, and SAR 12.2Bn in VC Investments led by Saudi Fintech and its country strategy.

Whereas in the UAE the DIFC Innovation Hub was launched in 2021 to act as the region’s ecosystem and play a role in linking early-stage start-ups with unicorns and large tech firms.

This new wave of ESG conscious Fintech’s is truly making an impact within their space. From supporting consumers in reducing carbon emissions to topping up purchases in checkouts to allow for ESG donations, to offsetting emissions by planting trees or offering organisations carbon credits to offset their emissions.

However, For ESG and sustainability to be embedded and be part of the fintech industry’s main offering and success these companies need to remain up to date with the ever-evolving legislation and regulations that are currently being imposed globally.

ESG positioned Fintech’s need to also be very transparent in their communications with their ESG and sustainability impact data, while having impact reports audited by an independent party to remove basis. Fintech’s need to regularly analyse and report on their ESG and sustainability framework to satisfy and retain trust with consumers, customers, investors, regulators, and employees.

By Gihan Hyde, Founder of CommUnique the award winning ESG Strategy and Communication Advisory Firm.

2 years ago 0 comments

BIBF to host a seminar on the transition to net-zero this Wednesday

by Mohammad Ghazal 2 years ago

written by Mohammad Ghazal

The Bahrain Institute of Banking and Finance (BIBF) will host a seminar on the Fundamentals of Sustainable Development and Net-Zero Transitioning on Wednesday, 11th January.

The seminar is hosted as part of the Middle East Sustainability Forum, organised by Finmark from 11-12 January under the theme: “Business Transition to Net-Zero – the Path Towards a Successful Low-Carbon Future”.

The seminar, held at the institute’s premises in Bahrain Bay, will be delivered by Head of Banking & Finance Centre at the BIBF, Zeeba Askar, who will be highlighting the fundamentals of sustainable development and its significance, with an emphasis on ESG and the transition towards net zero.

The benefits and the heightened sense of urgency associated with changing the mindset and culture of a corporation will also be highlighted, while looking at the principles behind how businesses can “do well while doing good” by internalising the commitment to the sustainable development goals to re-engineer “how” business is carried out.

In addition to discussing developments on a global and regional scale, the seminar will investigate the connection between resilience, sustainability, and business growth and expansion.

“In line with the Kingdom’s commitment to reach net-zero carbon emissions by 2060, the seminar aims to raise awareness on the importance of public-private partnerships and how they can contribute to achieving the national, regional, and global net-zero goals,” Askar said.

“The BIBF’s participation in the Middle East Sustainability Forum reflects its commitment towards raising sustainability awareness and developing capabilities in sustainable development across all industries, which contributes to the Kingdom’s economic growth, and fosters cooperation towards a more sustainable future,” she added.

2 years ago 0 comments

Energy Latest News

Mercedes to build global vehicle charging network, starting in North America

by Mohammad Ghazal 2 years ago

written by Mohammad Ghazal

Mercedes-Benz has announced far-reaching plans to launch a global high-power charging network across North America, Europe, China and other key markets. It will begin to be built this year in the US and Canada, followed by other regions around the globe.
The aim is to have the full network in place before the end of the decade, when Mercedes-Benz intends to go all-electric wherever market conditions allow.
The Mercedes-Benz charging hubs will be located in key cities and urban population centres, close to major arteries, convenient retail and service destinations, including participating Mercedes-Benz dealership sites.
The company believes this strategic move will significantly enhance the usability and convenience of its new generation of electric vehicles, differentiate the Mercedes-Benz ownership experience and accelerate the EV transformation.
The charging network will focus first and foremost on Mercedes-Benz customers, who will enjoy preferential access via a reservation function and other benefits. However, it will also be open to drivers of all other brands with compatible technology.
Mercedes-Benz kicks off charging rollout in North America
At CES 2023 in Las Vegas, Mercedes-Benz announced that the rollout of its high-power charging network will start this year in North America. The collaboration partners here include MN8 Energy, one of the largest solar energy and battery storage owners and operators in the US, and ChargePoint, a leading EV charging network technology company. By 2027, a network totalling more than 400 hubs across North America with more than 2,500 high-power chargers is planned to offer a premium, sustainable and reliable charging experience.
“Mercedes-Benz already offers what we believe to be the finest EVs in the market. But to accelerate the electric transformation, we need to ensure that the charging experience keeps pace as well. Our customers deserve a compelling charging experience that makes electric vehicle ownership and long-distance travel effortless. We won’t take a wait-and-see approach for this to be built. That’s why we are launching a global high-end charging network. It’s designed to become another differentiator of Mercedes-Benz ownership for our customers and an asset with value creation potential for our company. We are excited to start right here in North America with strong and experienced partners like MN8 Energy and ChargePoint,” said Ola Källenius, Chairman of the Board of Management of Mercedes-Benz Group AG.

An elevated charging experience the Mercedes-Benz way — seamless and secure

For those travelling long distances, Mercedes-Benz Electric Intelligence navigation makes life easy by automatically optimising route planning, incorporating the best charging points and reserving spaces in advance. The system knows the capacity utilisation at the respective locations and ensures customers can gain immediate access to the reserved charging point at the required time. This means no waiting for Mercedes-Benz customers. The seamless experience will be further enhanced by the easy and convenient “Plug & Charge” function. The charging station communicates directly with the vehicle via the charging cable. Manual authentication via card, app or head unit will not be required but possible. Mercedes-Benz customers can use this function via the Mercedes me connect service Mercedes me Charge. All other customers will have straightforward access to a wide array of payment functions.
Depending on region and location, the hubs will offer 4 to 12, and ultimately as many as 30, high-power chargers (HPC) with up to 350 kW of charging power.

More sustainable with green charging

In line with its sustainable “Ambition 2039” business strategy, Mercedes-Benz strives to enable its customers to charge with green energy at its own charging network. Preferably ensured via green electricity supply contracts or by using renewable energy certificates from an accredited supplier. Selected Mercedes-Benz charging hubs will also be equipped with photovoltaic systems to provide electricity for lighting and video surveillance, for example.

Focused capital spending

The total investment cost for the North American network will be just over 1 billion euros, deployed over the next 6-7 years. The capital for this will be provided by Mercedes and MN8 in a roughly 50:50 split.

Strong partners

By selecting MN8 Energy and ChargePoint as partners in North America, Mercedes-Benz is working with two of the leaders in their respective fields.
MN8 Energy is one of the largest solar energy and battery storage owners and operators in the US. By providing comprehensive, end-to-end project development, energy management, and exceptional maintenance and operations support to the Mercedes-Benz branded high-power charging network in the US, the company continues to focus on accelerating the transition to sustainable mobility. MN8 Energy is strategically well-aligned with the Mercedes-Benz “Ambition 2039,” and MN8 Energy supports Mercedes-Benz’s aim to maximise access to green charging for its customers throughout the US.
“MN8 Energy is on a mission to provide enterprise customers, such as Mercedes-Benz, with renewable energy and related solutions on their journey to an electrified, decarbonised world. Supporting the development of this exceptional charging experience helps address one of the most significant barriers to EV adoption — range anxiety. With each party playing to their strengths, we are thrilled to embark on this collaboration to expand charging access with Mercedes-Benz and ChargePoint,” said Jon Yoder, President & Chief Executive Officer, MN8 Energy.
ChargePoint has powered approximately five billion electric miles so far. ChargePoint already serves as the Mercedes-Benz backend provider in the US for Mercedes me Charge and has demonstrated a strong track record in software stability and hardware provision.
“Automotive leaders like Mercedes-Benz continue to lead the transition to electric mobility by bringing new EVs to market, and ChargePoint remains committed to enabling charging for all drivers whenever and wherever they want. With this partnership, we are expanding upon our existing relationships with Mercedes-Benz and MN8 to deliver a seamless charging experience for drivers, and turnkey charging solutions at no upfront cost to site hosts. By establishing charging hubs in convenient locations across the US and Canada, we’re able to provide a superior experience for more drivers who want to charge quickly and easily,” said Pasquale Romano, CEO, ChargePoint.
The establishment of the Mercedes-Benz high-power charging network marks an expansion of existing charging offers. Through Mercedes me Charge, the company already offers its customers access to around one million charging points worldwide, including the pan-European fast charging network IONITY, which is operated by Mercedes-Benz and other OEMs.

2 years ago 0 comments

Environment Latest News

New York sets to ban ‘forever chemicals’ from clothing by end of year

by Mohammad Ghazal 2 years ago

written by Mohammad Ghazal

New York is set to ban the use of toxic chemicals in the manufacturing of clothing by the end of the year, according to US media reports.
The law, signed by New York Governor Kathy Hochul, sees the ban of perfluoroalkyl and polyfluoroalkyl substances (PFAS) in apparel and will come into force on December 31, 2023.
Commonly known as “forever chemicals” due to their persistence, PFAS is associated with increased risk of kidney cancer, testicular cancer and other diseases.
Environmental organisations and advocates have been calling for a ban on PFAS chemicals, which are hard to degrade in the natural environment and found in an array of consumer products.
With the decision, New York will be joining California in banning “forever chemicals” from clothing.
Environmental activists have welcomed the strong action by both California and New York to phase out “forever chemicals” in the manufacturing of clothes.

2 years ago 0 comments

The Sustainable City – Yas Island offers gateway to environmentally conscious living

by Mohammad Ghazal 2 years ago

written by Mohammad Ghazal

Aldar Properties (‘Aldar’) in partnership with Diamond Developers has launched The Sustainable City – Yas Island, a sustainability-centric community offering a new way of life for residents in Abu Dhabi. The family friendly development, which builds on the strengths of The Sustainable City – Dubai, is a walkable community in the surrounds of open green spaces, leisurely walkways, and community farming plots.
The project is underpinned by a central green spine that runs the length of the community, featuring parks, lakes, and biodomes where vegetables will be grown and distributed throughout the community. With a strong focus on enabling an active community, The Sustainably City – Yas Island will also be home to a range of communal facilities and amenities, including an equestrian centre with stables, a track and two arenas, a gym and multiple pools, cycling and jogging tracks, football, basketball and padel courts, retail and F&B outlets, a nursery, a centre for autism, and a green and sustainable mosque.
Within this low emissions community, a network of communal battery-charged buggies and bicycles will be available so that residents and visitors can move around while their cars remain parked on the outer edge of the development. The community’s design philosophy has a focus on increasing walkability and accessibility at all levels.
Available for buyers of all nationalities, The Sustainable City – Yas Island will feature condominiums and townhouses located in 10 intimate clusters. In the first phase of the project, 272 condominiums and 240 townhouses will be released for public sale on 19 January. Condominiums are available in one-, two-, and three-bedroom formats, with the average price for a one bed standing at AED 892,000. Three- and four-bedroom townhouses at the development are also available with the average price of a three-bed standing at AED 3.24 million.
Jonathan Emery, Chief Executive Officer at Aldar Development, said: “The Sustainable City – Yas Island is a landmark project for Aldar, reflecting our commitment to provide an increasingly diverse range of curated living experiences that our local and overseas customers tell us they want to live and invest in. This new community is a hugely powerful response to the strong demand we see for a more sustainable way of living, with the emergence of a more environmentally conscious customer group who seek a natural lifestyle experience that focuses on low carbon emissions, energy conservation, and the fundamental principles of a circular economy. The community will be brought to life in partnership with Diamond Developers, experts in the creation and management of sustainable cities, and champions of place making and a low carbon future.”
The Sustainable City – Yas Island is a fully sustainable community that will be guided by three sustainability pillars – social, environmental, and economic. As one of the few Estidama 3-pearl communities in Abu Dhabi, the development will be powered by clean renewable energy, including solar panels embedded on all parking structures, enabling residents to save up to 50 percent on energy bills. Additionally, high-efficiency water systems, sustainability tech, community design principles, and recycling facilities within the community will help reduce carbon emissions, water consumption, energy usage, and waste.
Salah Habib, Chief Executive Officer at Diamond Developers, said: “Cities need to create a path to Net-Zero emissions that considers city-specific features like building material, food production and mobility solutions. The Sustainable City – Yas Island marks a key milestone in our journey to supporting the UAE’s Net-Zero targets. The community will give residents of Abu Dhabi the chance to live in a sustainable community, with access to clean energy, locally grown food, recycled water, and waste with carbon-free mobility. The community will also embrace the latest innovations in sustainable technology, placing the community in Abu Dhabi at the forefront of the battle against climate change. We are proud to bring this ground-breaking community to life alongside Aldar.”
Announced in January 2022 during Abu Dhabi Sustainability Week, The Sustainable City – Yas Island is the product of joint venture with Diamond Developers, the mastermind behind The Sustainable City brand. Construction of the project will commence in Q2 2023, with first handovers expected in Q4 2025.

2 years ago 0 comments

Food & Water Latest News

Xylem bolsters regional presence with new facility in UAE

by Mohammad Ghazal 2 years ago

written by Mohammad Ghazal

Xylem, the leading water technology company committed to solving the most challenging water problems around the world, has announced the opening of its new USD 1.2 million service centre, state-of-the-art analytics lab and rental hub in the UAE — strengthening its position in the Middle East to better address the region’s water-related challenges.

Located in Jebel Ali Free Zone, the new facility will span over 10,000 square meters and will feature a wash bay, lifting and handling cranes and tooling, trimming and balancing machines, original spare parts, testing benches, a painting booth, programming and calibrating equipment and devices.

This move will enable Xylem to respond to any customer needs faster and provide tailor-made solutions such as real-time interventions by experts — 24 hours a day, 365 days a year. The service hub currently employs more than 16 staff, including engineers and technicians and is set to create 300 employment opportunities.

Speaking on the latest innovations from Xylem, Naji Skaf, Managing Director of Xylem Middle East and Turkey, said: “With this expansion, we seek to solidify our position in the Middle East region and provide a slew of benefits including quicker turnaround, greater convenience and access to our customers. Our new centre of excellence is poised to bring about a gamut of opportunities for us that will support and accelerate our growth.”

The development of the facility is in line with Xylem’s commitment to resolving key challenges and illustrates the company’s commitment to bringing together advanced technologies, application expertise, and smart sustainable solutions to customers in the Middle East region — where there are significant issues pertaining to the management of water and wastewater.

2 years ago 0 comments

Mercedes-Benz Energy, Lohum join hands for powering battery sustainability

by Mohammad Ghazal 2 years ago

written by Mohammad Ghazal

Mercedes-Benz Energy and Lohum have announced a strategic partnership through a multi-year supply contract agreement for second-life batteries. Lohum is Mercedes-Benz Energy’s first partner in Asia as both companies continue to push sustainability across the battery supply chain. This agreement includes Mercedes-Benz Energy and Lohum committing to a minimum offtake schedule of 50MWh per annum across multiple 2nd life module variants.

Mercedes-Benz Energy and Lohum have been working together for nearly two years. The agreement will enable Lohum to secure high volumes of second-use battery modules from Mercedes-Benz Energy. Lohum develops 2nd life applications primarily focused on the Indian stationary and non-auto mobility storage markets. Mobility applications include low-power applications such as the electric rickshaw and stationary applications range from small 6KWh batteries to larger 1MWh storage systems.

“Lohum is thinking about 2nd life in a very different way than most companies,” said Gordon Gassman, CEO of Mercedes-Benz Energy. “Theirs is a truly long-term focus with a keen understanding that one of the biggest challenges for 2nd life is the unpredictability of feedstock supply and composition. Lohum is developing expertise and applications across multiple module variants to create a long-term supply funnel. This flexibility and model unlocks value for both parties and defines the innovation and reliability we seek in strategic partnerships.”

“Mercedes-Benz Energy’s model for approaching 2nd life is the most advanced we have seen by far,” said Justin Lemmon, Co-founder and Head of International Operations of Lohum. “In addition to their willingness to regularly test new opportunities for collaboration, they are creating infrastructure and capabilities to maximise sustainability and value for used inventory. The organisation possesses deep product knowledge matched by an industry-shaping sales and logistics team. 2nd life remains very nascent and Mercedes-Benz Energy’s creativity, process and commitment to safety has helped us expand our business significantly.”

In addition, once these 2nd life modules reach end of life, Lohum offers a buy-back guarantee to recycle them through its hydromet plant. Both companies believe that wherever it is possible, 2nd life combined with recycling offers the best solution for sustainability and value creation over the long term.

Mercedes-Benz Energy has access to used inventory across the globe. With Lohum’s current footprint in Asia combined with its entrance into the US market, the companies continue to evaluate new collaboration opportunities across regions.

2 years ago 0 comments

Energy Latest News

UAE’s ADNOC allocates $15bln to advance decarbonisation projects

by Mohammad Ghazal 2 years ago

written by Mohammad Ghazal

ADNOC, a reliable and responsible provider of lower-carbon intensity energy, has announced a bold new strategy to progress the world-scale decarbonisation of its operations.
The announcement follows the guidance by ADNOC’s Board of Directors in November 2022 to accelerate delivery of its low-carbon growth strategy and the approval of its Net Zero by 2050 ambition. This builds on ADNOC’s strong track record as a leading lower-carbon intensity energy producer, which includes its use of zero carbon grid power, a commitment to zero flaring as part of routine operations and deployment of the region’s first carbon capture project at-scale.
Acting on the board’s guidance, ADNOC has allocated $15 billion (AED55 billion) to advance an array of projects across its diversified value chain by 2030. These projects will include investments in clean power, carbon capture and storage (CCS), further electrification of its operations, energy efficiency and new measures to build on ADNOC’s long-standing policy of zero routine gas flaring. ADNOC will apply a rigorous commercial and sustainability assessment to ensure that each project delivers lasting tangible impact.
Throughout 2023, a suite of new projects and initiatives will be announced, including a first-of-its-kind CCS project, innovative carbon removal technologies, investment in new, cleaner energy solutions and strengthening of international partnerships. Together with the recent formation of the ADNOC’s new Low Carbon Solutions and International Growth Directorate, these represent tangible and concrete action as the company reduces its carbon intensity by 25 percent by 2030 and moves towards its Net Zero by 2050 ambition.
His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, said: “Under the directives of the UAE’s wise leadership and the ADNOC Board of Directors, ADNOC continues to take significant steps to make today’s energy cleaner while investing in the clean energies and new technologies of tomorrow. Now, more than ever, the world needs a practical and responsible approach to the energy transition that is both pro-growth and pro-climate, and ADNOC is delivering tangible actions in support of both these goals.
“Cementing our strong track record of responsible and reliable energy production, ADNOC will fast-track significant investments into landmark clean energy, low-carbon and decarbonisation technology projects. As we continue to future-proof our business, we invite technology and industry leaders to partner with us, to collectively drive real and meaningful action that embraces the energy transition. This strategic, multi-billion-dollar initiative underscores ADNOC’s industry leadership as a leading global provider of lower-carbon energy.”
Building on ADNOC’s Al Reyadah facility, which has the capacity to capture up to 800,000 tons of CO2 per year, the company will announce plans to deploy technologies to capture, store and absorb CO2 by leveraging the UAE’s geological properties while preparing for its next major investment to capture emissions from its Habshan gas processing facility. Combined with ADNOC’s planned expansion of its carbon capture capacity to 5 million tons per annum (mtpa) by 2030, the UAE will be firmly established as a worldwide hub for carbon capture expertise and innovation.
ADNOC’s expansion of CCS is planned to support the significant scale-up of hydrogen and lower-carbon ammonia production capabilities in Abu Dhabi as ADNOC advances a world-scale 1 million tons per annum (mtpa) blue ammonia production facility at TA’ZIZ, the industrial services and logistics ecosystem that is enabling the expansion of the Al Ruways Industrial City, as well as Abu Dhabi’s wider chemicals, manufacturing and industrial sectors. To date, ADNOC has already delivered test cargoes of low-carbon ammonia to Europe and Asia.
ADNOC’s expansion of its new energy portfolio will largely be delivered through its stake in Masdar, the UAE’s clean energy powerhouse with over 20 gigawatts (GW) of clean energy today and plans to increase its capacity to 100 GW by 2030. Masdar is also spearheading the UAE’s drive to develop a leading position in green hydrogen.
Since January 2022, ADNOC has received 100 percent of its grid power supply from Emirates Water and Electricity Company’s (EWEC) nuclear and solar energy sources, making it the first major company in the industry to decarbonise its power at scale through a clean power agreement of this kind.
ADNOC also concluded a $3.8 billion deal to build a first-of-its-kind, sub-sea transmission network in the MENA region, connecting ADNOC’s offshore operations to the onshore power network, with the potential to reduce ADNOC’s offshore carbon footprint by up to 50 percent.
Building on the multi-billion capital investment in decarbonisation projects, ADNOC is working closely with its international partners and stakeholders across the energy value chain to collaborate on technology, best practices and policy to support and drive global decarbonisation efforts.

2 years ago 0 comments

Energy Latest News

Ducab Group supplies sustainable energy solutions to Gulf of Suez project in Egypt

by Mohammad Ghazal 2 years ago

written by Mohammad Ghazal

Ducab Group—one of the UAE’s largest industrial manufacturing businesses—is supplying 633 kilometres of medium voltage and earthing cable to a new Egyptian 70-turbine windfarm.

The Gulf of Suez project, for Egypt’s New and Renewable Energy Authority will play a key role in the country’s commitment to generate 42 percent of all electricity from renewable energy by 2035 and save around a 600,000 tonnes of CO2 every year.

The move will further reinforce the strong industrial partnership between the UAE and Egypt, according to WAM news agency.

One of the largest developed utility scale wind power plants in Egypt, the project will contribute 250MW of renewable energy generation to the country’s energy mix from the 70 turbines being installed in an area of 57 Km2.

For the project, Ducab has partnered with Vestas, EPC contractor and supplier of the 70 wind turbines.

“We are committed to supporting countries achieve their sustainability ambitions and our solutions are in high demand for solar and wind power projects around the world,” Group CEO of Ducab, Mohammed Almutawa, said.

“Ducab already supplies solutions to landmark renewable energy infrastructure in 55 countries, but we are proud that demand for our expertise, experience and quality solutions is experiencing significant growth as more and more countries, such as Egypt, decarbonise and transition to renewables,” he added.

In addition to the Gulf of Suez windfarm, Ducab has provided solutions for a wide range of milestone renewable energy projects in the Middle East including the Mohammed bin Rashid Al Maktoum Solar Park, the Shams 1 project and the Al Barakah nuclear plant in the UAE.

The company has also initiated renewable energy projects across 55 countries and in April this year announced its first solar park partnership in Mexico.

As an Emirati brand, Ducab is proudly aligned with ‘Operation 300bn’, the UAE’s national strategy to increase the industrial sector’s contribution to GDP from US$36.23 billion to US$81.74 billion by 2031.

2 years ago 0 comments

Energy Latest News

Abu Dhabi Sustainability Week Hosts First Green Hydrogen Summit in Year of Climate Action for UAE

by Mohammad Ghazal 2 years ago

written by Mohammad Ghazal

Abu Dhabi Sustainability Week (ADSW), the global initiative championed by the UAE and its clean energy powerhouse Masdar to accelerate sustainable development, will hold its first annual Green Hydrogen Summit this month, highlighting green hydrogen’s growing importance in the global drive toward net zero.

The Green Hydrogen Summit 2023, taking place on January 18, will be one of the key events taking place at ADSW 2023, which will convene heads of state, policymakers, industry leaders, investors, youth, and entrepreneurs, for a series of impactful dialogues ahead of the United Nations Climate Change Conference (COP28), to be held in the UAE from November 30-December 12. COP28, the Emirates Climate Conference, will see the conclusion of the first Global Stocktake of the Paris Agreement – assessing the progress made by countries on their national climate plans.

H.E. Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Special Envoy for Climate Change, and Chairman of Masdar, said, “We stand at a critical moment as nations prepare to gather in the UAE to highlight progress on meeting climate objectives and to explore pathways to net zero.

Ahead of COP28, ADSW2023 will provide a platform for vital dialogue between key stakeholders and decision makers, as we look to forge alliances and develop innovative solutions to deliver an inclusive energy transition. The UAE and Masdar have long believed that green hydrogen will play a key role in that energy transition and as we continue to explore low-carbon and zero-carbon energy solutions, the time is right for green hydrogen to take a more central role at ADSW.”

The inaugural Green Hydrogen Summit at ADSW will cover topics including, developments in hydrogen production, conversion, transport, storage, and use. It will include high-level discussions focused on the development of the UAE hydrogen economy, the role of government and regulation, and panel sessions on a broad range of topics including innovation, sustainable finance, green energy in Africa, and hydrogen’s value chain.

Mohamed Jameel Al Ramahi, Chief Executive Officer, Masdar, said, “As green hydrogen continues to show growing promise as a critical enabler of our net-zero future, we must unlock its full potential by accelerating research and development and investment in this vital sector. Masdar is excited to launch the ADSW Green Hydrogen Summit to support the development of the UAE’s green hydrogen economy and help realise the global energy transition. This inaugural Summit will also pave the way toward COP28 in the UAE, where we can expect green hydrogen to be a key component of a future low-carbon energy market.”

The Green Hydrogen Summit is held in partnership with the Hydrogen Council, Atlantic Council, International Renewable Energy Agency and Dii Desert Energy.

ADSW host Masdar announced in December the formation of its new green hydrogen business to support the UAE’s green hydrogen economy. Masdar’s green hydrogen business aims to produce up to one million tonnes of green hydrogen per annum by 2030. Masdar is already actively involved in a number of projects related to green hydrogen production, including agreements with leading Egyptian state-backed organisations to cooperate on the development of green hydrogen production plants, targeting an electrolyzer capacity of 4 gigawatts by 2030, and output of up to 480,000 tonnes of green hydrogen per year.

ADSW, established in 2008, brings together heads of state, policymakers, industry leaders, investors, entrepreneurs, and youth to discuss, engage and debate climate action and innovation to ensure a sustainable world.

The first international sustainability gathering of the year, ADSW 2023 will again feature the ADSW Summit, hosted by Masdar. Taking place on January 16, the summit will focus on a wide range of critical topics including Food and Water Security, Energy Access, Industrial Decarbonisation, Health, and Climate Adaptation.

As in previous years, ADSW 2023 will feature partner-led events and opportunities for international engagement on sustainability-related topics, including the International Renewable Energy Agency’s IRENA Assembly, the Atlantic Council Global Energy Forum, the Abu Dhabi Sustainable Finance Forum, and the World Future Energy Summit.

ADSW 2023 will also mark the 15th anniversary of the Zayed Sustainability Prize – the UAE’s pioneering global award for recognising excellence in sustainability. Masdar’s Youth for Sustainability platform will hold the Y4S Hub during the week, which aims to attract 3,000 young people, while the annual forum for Masdar’s Women in Sustainability, Environment and Renewable Energy (WiSER) platform will also be held, giving women a greater voice in the sustainability debate.

2 years ago 0 comments

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