Saudi Aramco CEO warns of 'painful awakening' as energy costs rise Amin Nasser said that green energy would not replace oil as demand for crude continues to grow, especially from the Global South. Saudi Arabia
Exclusive Saudi finance minister hints kingdom could meet 2030 renewables target early On Monday, the kingdom commissioned its largest battery energy storage system to its grid, with a capacity of 500 megawatts and the ability to store 2,000 megawatt hours of electricity. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Exclusive Global renewables surge forward despite Trump’s climate reversals, says IRENA chief Although Gulf countries are still heavily reliant on oil and gas, they are quickly moving toward a greener system, International Renewable Energy Agency head Francesco La Camera told Al-Monitor. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Gulf wealth funds propel Middle East deals in 2024 The Gulf region continued its trajectory toward becoming a global investment powerhouse as sovereign wealth funds fed capital into AI, clean energy, entertainment, sports, start-ups and tourism. Saudi Arabia
Analysis Despite green energy deal blitz, Middle Eastern climate efforts fell flat in 2024 By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
World Bank ups Middle East climate financing to $10B by 2025 The global lender provided $6.3 billion in climate financing for the MENA region between 2021 and 2023, much of it focused on mitigation and adaptation. Gulf
COP28: historic deal agreed for world to ‘transition away’ from fossil fuels The summit stretched into prolonged negotiations over the terminology of the final text, after the “phase out” of fossil fuels was omitted from the draft a day before the scheduled end of the event. United Arab Emirates
China-Saudi Investment Conference begins in Beijing China is Saudi Arabia’s largest trading partner and biggest customer of its primary commodity: crude oil. Saudi Arabia
After US, India, UAE, World Economic Forum expects Brazil to enter green coalition India, the UAE and the United States are part of the First Movers Coalition, a green alliance that Rob van Riet, senior adviser at the WEF's Center for Nature and Climate, told Al-Monitor he hoped Brazil will be the next to join. United Arab Emirates
Saudi Arabia’s ACWA Power to develop green hydrogen project in Indonesia Green hydrogen has potential environmental benefits as well as drawbacks and is being pursued by Saudi Arabia, the United Arab Emirates and other Gulf states. Gulf
UAE’s Masdar signs $16 billion deal for wind, hydrogen projects in US, Germany The UAE is hosting the UN climate change conference amid global calls to reduce dependence on fossil fuels. Gulf
The COP28 scorecard: US leads methane charge, China to slash emissions COP28 President Sultan Al Jaber also announced a deal to cut methane emissions from the fossil fuel industry, with ExxonMobil and Saudi Arabia's state-owned oil firm Aramco being among the 50 businesses that signed up. United Arab Emirates
COP28 opens in UAE amid intense scrutiny over fossil fuel links A breakthrough was made on the first day of the UN climate summit as world leaders established a loss and damage fund to help developing countries adapt to climate change. United Arab Emirates
Interview IEA calls COP28 'big opportunity' to slash methane emissions In an interview with Al-Monitor, the International Energy Agency's chief energy economist, Tim Gould, said the climate summit should focus on methane as well as climate finance for the developing world. Tim Gould Chief Energy Economist of the International Energy Agency
Business & Tech Briefing: Dubai gears up for COP28 By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
UAE’s Masdar opens world’s largest single-site solar plant ahead of COP28 The Al Dhafra solar plant spans more than 12 square miles of desert. United Arab Emirates
