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Qatar Financial Centre Authority, the legal and tax arm of the Qatar Financial Centre (“QFC”), a leading onshore financial and business center in the region, and UBS Asset Management today announced that they have signed a Letter of Intent (“LOI”) to collaborate on the establishment of a Green sustainable private markets initiative that will focus on making investments in the energy storage, eco-transport, food security, and environmentally sustainable technology venture capital sectors.
EV Lab, a Dubai-based electric vehicle platform, has entered into a partnership with sustainable yacht creator Silent Yachts to bring solar-powered vessels to the region.
Silent Yachts are powered entirely by clean energy, with solar panels and batteries feeding electric motors. UAE , being the world’s cheapest solar power is also home to three of the largest solar complexes in the world.
The E-Power+ propulsion option offers top speeds of up to 20 knots (37 kilometres an hour) and "higher speeds can be sustained for even longer periods of time alongside maximising the amount of energy which can be stored for back-up and deployed whenever needed", said EV Lab.
"We expect the solar panel recharge technology to be a perfect fit and overperform in our market as we have an abundance of availability in solar energy," said Kevin Chalhoub, chief executive and founder of EV Lab.
Silent Yachts "have proven the technology can work to theoretically recharge your boat entirely without needing a charger, which is a first in the industry”, he said.
Swiss start-up The Jet ZeroEmission is planning to bring "flying boats" to Dubai, which will be powered by two hydrogen fuel cells and will carry six to eight passengers at a cruising speed of 30 knots to 40 knots.
HSBC Bahrain will soon issue sustainable payment cards such as HSBC’s debit, credit and commercial cards, as part of HSBC’s global initiative and will eliminate single-use PVC plastic by the end of 2026.
With a mission to scale-up carbon capture and storage technology in support of climate neutrality, the Global Carbon Capture and Storage Institute, has opened its first Middle East headquarters in Masdar City.
Masdar’s Women in Sustainability, Environment and Renewable Energy (WiSER) platform today completed its first field-based course in Rwanda titled “Rural Energy Access: Designing and implementing inclusive community energy systems.”
Middle East’s largest MRO E-Commerce Store, SupplyVan is hoping to support the ‘Green Economy Initiative’ launched by HH Sheikh Mohammed bin Rashid Al Maktoum in January of 2012by becoming a successful model of the new green economy and pushing the cause of sustainability through their packaging materials.
Muzon Ashgar, founder and manager of Saudi brand MZN Bodycare put together her own recipes for natural skincare products and packaged them herself. She went from giving the products away as gifts at her at-home spa to selling at local markets and events, eventually establishing her own company.
Etihad Airways has committed to adopting a mangrove tree on behalf of every guest who books an Economy Space seat which would ensure that every “space” seat sold is eventually carbon neutral. This is an encouraging initiative of Etihad towards biodiversity conservation, following the launch of the Etihad Mangrove Forest in February 2022 in Abu Dhabi.
The United Nations Industrial Development Organisation Investment and Technology Promotion Office (Unido ITPO), through its Arab International Centre for Entrepreneurship and Investment in Bahrain, has partnered with the UN Food and Agriculture Organisation to launch the AgriNation Startup Cup in Bahrain and across the region.
URB, a global leader in developing sustainable cities, is set to launch XZero City, a 1,600-hectare development planned sustainable community providing a net zero carbon lifestyle for 100,000 residents in Kuwait providing 30,000 residential units, as well as 30,000 green jobs, which will be created in various hubs such as medical, tourism, retail, education and entertainment as well as promote sustainable tourism through its various eco-friendly hospitality assets, including a 5-star eco-resort and eco-lodges.