Skip to main content Skip to footer ![FII8: Aramco, Riyadh Air ink agreement to collaborate in low-carbon fuel supply, sustainability](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/11/Aramco-Riyadh-Air-1.jpeg/w=1024,h=683)
Partnership aligns with Riyadh Air's ambition to become a leading global airline committed to sustainability and low-carbon fuels
![Global climate investment gap projected at $2.7 trillion annually by 2030, warns Moody’s](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/11/Moodys-climate-investments-1.jpg/w=1024,h=682)
The report noted that investment has risen since the Paris Agreement, but reaching net zero by 2050 needs much more effort
![FII8: Saudi Arabia strengthens framework for high-integrity carbon markets to achieve national emission reduction targets](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/10/FII8-Regional-Voluntary-Carbon-Market-Company-1.jpg/w=1024,h=682)
Strategic collaboration between the Regional Voluntary Carbon Market Company, Clean Development Mechanism Designed Authority
![UAE signs two agreements with IMF to support PRGT, RST funds](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/10/UAE-IMF-1-1.jpeg/w=1024,h=683)
At the October 2023 IMFC meeting in Marrakech, the UAE announced a $200 million co-financing initiative for the PRGT
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EVs in use to grow 33 percent in 2025
![Dubai’s net-zero efforts cut emissions by 29 percent in 2023](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/10/Dubai-net-zero.jpg/w=1024,h=683)
Achievement highlights the effectiveness of current measures under Dubai’s strategy to reduce carbon emissions by 30 percent by 2030
![Saudi flynas partners with VCM on carbon offsetting, environmental protection, and sustainability](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/10/flynas-VCM-1-1-1-1.jpg/w=1024,h=683)
The deal supports the Kingdom's climate ambitions to achieve net zero emissions
![Abu Dhabi’s Masdar, Presight forge partnership to create AI-driven asset management tool](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/10/Masdar-Presight-main-1-1-1.jpeg/w=1024,h=683)
Masdar aims to digitize its global operations, transitioning from a reactive to a predictive model
![Abu Dhabi’s Borouge delivers 700,000 tons in first year under Etihad Rail agreement](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/10/Borouge-Etihad-Rail-1.jpg/w=1024,h=682)
Since September 2023, over 36,000 Borouge containers have moved from Al Ruwais to Khalifa Port
![COP28 President urges global unity and action at COP29 to advance climate goals, build on UAE Consensus](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/10/COP28-UAE-Consensus-1.jpeg/w=1024,h=683)
The UAE Consensus serves as a crucial roadmap for fulfilling the aspirations of the Paris Agreement
![More than a marketplace: Rebound’s recycling platform is revolutionizing waste management](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/10/Maryam-Al-Mansoori1.jpg/w=1024,h=683)
Boasting zero-percent commission, real-time certification, and environmental impact assessments
![Abu Dhabi’s Masdar expands clean energy to 31.5 GW, generating 26,700 GWh and avoiding 14 million tons of CO2e](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/10/Masdar-sustainability-1.jpg/w=1024,h=682)
This is up from 10 million tons last year, equivalent to removing nearly 870,000 vehicles
![Growth of low-emissions hydrogen projects outpaces policy support: Report](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/10/Hydrogen-projects-IEA-1.jpg/w=1024,h=683)
Urgent policies are needed to boost demand in heavy industry, refining, and long-distance transportation
![Dubai Airports to launch mega rooftop solar project drive, set for completion by 2026](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/10/Dubai-Airports-solar-project.jpg/w=1024,h=682)
Project involves the installation of 62,904 solar panels across DXB and DWC airports to generate 60,346MWh annually
![WEF introduces innovative digital platform to boost clean energy investments in emerging markets](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/10/World-Economic-Forum-digital-platform-1.jpg/w=1024,h=682)
The platform outlines 100 policy measures, financial mechanisms, and de-risking strategies from the past two decades
![DAMAC Properties strengthens commitment to sustainability at DEWA’s WETEX 2024 with innovative solutions](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/10/DAMAC-WETEX.jpg/w=1024,h=683)
DAMAC launched its first Sustainability Report which highlights the organisation’s key ESG goals and vision
![UAE commits $30 million to boost Ghana’s biodiversity and climate initiatives](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/UAE-Ghana-climate-1-1-1.jpeg/w=1024,h=683)
The framework outlines six key investment areas, including biodiversity corridors, reforestation
![Governments allocate nearly $2 trillion in direct clean energy investment since 2020: IEA](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/Governments-clean-energy-1-1.jpg/w=1024,h=683)
This amount is nearly three times the funding committed after the financial crisis of 2007-08
![COP28 President calls for ambitious NDCs to keep 1.5°C goal within reach, drive socioeconomic growth](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/COP28-President.jpg/w=1024,h=683)
Dr. Al Jaber said the UAE Consensus provides a vital roadmap for action at the ‘Roadmap to Mission 1.5: NDC 3.0’ event
![81 percent of new renewables cheaper than fossil fuels, saving $409 billion since 2000: IRENA](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/IRENA-renewables-1.jpg/w=1024,h=683)
Solar PV costs plummet to 4 cents per kWh, 56 percent lower than fossil fuels
![Abu Dhabi’s Masdar announces $1.4 billion acquisition of Saeta from Brookfield](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/Masdar-Saeta-1.jpeg/w=1024,h=683)
The acquisition encompasses a portfolio of 745 megawatts (MW) of primarily wind energy assets
![UAE, IRENA forge partnership to boost climate ambitions in 20 developing nations](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/UAE-IRENA-1.jpg/w=1024,h=683)
The partnership aims to leverage the UAE’s climate leadership and IRENA’s role in NDC development and sustainable energy transition
![Abu Dhabi’s Masdar secures $159 million for 154 MW Čibuk 2 wind farm, powering 62,000 households](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/Masdar-Serbia-1.jpeg/w=1024,h=683)
Non-recourse financing has been secured from lenders UniCredit and Erste Bank Serbia
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The move aligns with SRTA’s commitment to sustainability and supports the UAE’s goal of achieving Net Zero by 2050