Middle East & North Africa

Egypt moves forward with investing in carbon markets

The country’s first carbon credits investment fund, called EgyCOP, will invest directly in the voluntary carbon markets.

150 150 Trove Intelligence

Oil giant Saudi Aramco records historic $161Bn profit in 2022

Aramco plans to spend up to $55Bn on capital projects in 2023 to boost its production from 11.5m barrels a day in 2022 to 13m barrels a day by 2027.

150 150 Trove Intelligence

New decree paves way for creation of Egyptian VCM

A law passed at the end of 2022 provides for the establishment of a voluntary carbon market (VCM) platform within the Egyptian Stock Exchange (EGX).

150 150 Trove Intelligence

Majid Al Futtaim raises $1.25Bn sustainability-linked loan

The Emirati retail conglomerate raised a $1.25Bn revolving credit facility linked to the company's ESG goals.

150 150 Trove Intelligence

Dubai Islamic Bank sells $750m in debut sustainable sukuk

The five-year sukuk is the debut green Islamic bond for the United Arab Emirates, in a sale arranged by local, regional and international banks.

150 150 Trove Intelligence

Mubadala acquires strategic stake in AirCarbon Exchange

The Abu Dhabi sovereign wealth fund invested in ACX, which is establishing a carbon trading exchange and carbon clearing house in Abu Dhabi Global Market (ADGM).

150 150 Trove Intelligence

New carbon credits to be issued for rice drip irrigation

The Israeli drip irrigation company Netafim announced Friday its first carbon credit initiative for global rice growers.

150 150 Trove Intelligence

UAE using role as COP28 host to lobby on its climate reputation

The United Arab Emirates (UEA) hired PR firm to use its role as the host of next year’s UN climate conference to launder its international reputation.

150 150 Trove Intelligence

Turkey boosts GHG emissions reduction target for 2030

Turkey will aim to bring its greenhouse gas (GHG) emissions 41% below business-as-usual levels by 2030, raising the target from 21%.

150 150 Trove Intelligence

UAE technology firm e& pledges to net-zero operations by 2030

The group said it would reduce its carbon footprint through improving energy efficiency and sourcing renewable energy among other initiatives

150 150 Trove Intelligence

UAE releases net-zero plan, plans deeper emissions cut

The UAE has laid out a pathway to net-zero by 2050 that implies a deeper reduction in emissions by 2030 than envisaged under its updated NDC, released in September.

150 150 Trove Intelligence

Kuwait pledges net zero emissions by 2060

Kuwait announced the emirate's intention to work towards net-zero, making it the fifth Gulf Co-operation Council (GCC) country to set a net-zero goal

150 150 Trove Intelligence

Saudi Arabia’s sovereign wealth fund auctions 1.4m credits

The Middle East's first carbon credit auction saw Saudi Aramco as largest buyer, just three weeks after the sovereign wealth fund raised its first $3Bn green bond.

150 150 Trove Intelligence

Saudi Arabia’s ACWA Power will invest $10Bn in South Africa

The CEO of the state-owned utility has announced it will invest $5Bn in renewable energy and $5Bn in hydrogen over the next 5 years.

150 150 Trove Intelligence

Oman aims to achieve net-zero carbon emissions by 2050

The Sultanate is the latest Gulf country to make a commitment, in line with Oman's 2040 Vision and the setting up of the Oman Centre for Sustainability.

150 150 Trove Intelligence

Egypt awarded $400m infrastructure financing by World Bank

The country will use the fund to finance a railway bypass around the congested Greater Cairo region for freight going from South to North.

150 150 Trove Intelligence

Saudi Arabia’s Public Investment Fund raises $3Bn green bond

Three issuances of a 5-year, 10-year and 100-year bonds of different amounts and interest rates make up the country's first ever "green bond".

150 150 Trove Intelligence

UAE raises carbon cutting ambition

The UAE has pledged to cut CO2 emissions by 31% by 2030 – up from a previous target of 23.5%.

150 150 Trove Intelligence

ADCB prices $500m bond to back low-carbon initiatives

Abu Dhabi Commercial Bank (ADCB) has successfully priced its inaugural green bond, raising $500 million to support the financing of low-carbon initiatives

150 150 Trove Intelligence

Saudi wealth fund to issue green bonds as soon as this week

Saudi Arabia's $620bn sovereign wealth fund, the Public Investment Fund (PIF), is expected to tap international debt markets for a debut green bonds issue.

150 150 Trove Intelligence

ADCB prices $500m bond to back low-carbon initiatives

Abu Dhabi Commercial Bank (ADCB) has successfully priced its inaugural green bond, raising $500 million to support the financing of low-carbon initiatives.

150 150 Trove Intelligence

Saudi wealth fund to issue green bonds as soon as this week

Saudi Arabia's $620bn sovereign wealth fund, the Public Investment Fund (PIF), is expected to tap international debt markets for a debut green bonds issue.

150 150 Trove Intelligence

UAE launch climate action pledge for private sector

The pledge aims to increase the engagement of the private sector in the country’s decarbonisation, in line with the Net Zero 2050 Strategic Initiative.

150 150 Trove Intelligence

UAE launch climate action pledge for private sector

The pledge aims to increase the engagement of the private sector in the country’s decarbonisation, in line with the Net Zero 2050 Strategic Initiative.

150 150 Trove Intelligence
Privacy Preferences

When you visit our website, it may store information through your browser from specific services, usually in the form of cookies. Here you can change your Privacy preferences. It is worth noting that blocking some types of cookies may impact your experience on our website and the services we are able to offer.

By customising your privacy preference, you agree to continue to use this site as per your selected privacy preferences

We use cookies to give you the best online experience. By clicking I Agree and/or continuing to use our site, we assume you are happy to proceed with our default privacy settings, or, if applicable, the settings you have selected via Privacy Preferences.