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RedSea, the Saudi AgTech business whose one-of-a-kind technology enables commercial farming in hot environments globally, has signed an MoU with the Saudi Downtown Company, a fully-owned subsidiary of the kingdom's wealth fund, the PIF (Public Investment Fund), said the report.
The new partnership allows the two parties to discuss the designing, building, and operation of RedSea greenhouses at SDC locations across the kingdom, allowing the deployment of sustainable agriculture technologies that everyone can benefit from.
A report says Renoir Consulting, through its ESG Integrate unit, has signed an agreement with Ittihad International Investment LLC (LL Group), a renowned private investment holding company based in Abu Dhabi, UAE.
The project will focus on the development of a comprehensive Environmental, Social, and Governance (ESG) Framework and Roadmap to be implemented across III Group’s entire value chain, it stated.
III Group is speeding up growth in five key verticals that are important for the UAE economy to grow and become more diverse.
Hosted by the Embassy of Italy in Abu Dhabi, in partnership with Il Sole 24 Ore, Italy’s leading business newspaper, the seminar "Italy and the UAE towards COP28: private sector engagement for energy transition" focused on identifying new opportunities for collaboration and solutions to address the energy transition.
According to the report, Italian companies are willing to contribute to the energy transition and to make COP28 a COP of Action and a COP for All. This agenda has gained strength following the declaration on enhanced cooperation towards COP28 between Italy and the UAE.
Hilton, in partnership with the United Nations Environment Programme (UNEP) West Asia, Winnow, and Goumbook, has launched Green Ramadan, according to the report.
an initiative to reduce food waste across several key markets in the Middle East, including the UAE at Conrad Dubai.
With reports from UNEP West Asia showing that food waste increases by 25%–50% in the region during religious and social festivities, Hilton is introducing measures to minimize waste during the holy month of Ramadan and drive awareness around local sourcing and food waste.
A report says UAE-based smart and green facility management company Farnek has launched a new state-of-the-art online remote digital platform called PowerTek.
Which was developed by in-house experts at Farnek’s innovative digital solutions sister company, Hitek.
The comprehensive and data-driven energy performance monitoring tool supports hotels and the wider business community through efficient measuring, tracking, monitoring, and benchmarking of energy and water consumption, as well as waste management.
The winners of the Study UK Alumni Awards 2022–23 in Saudi Arabia were announced at a ceremony hosted by the British Ambassador in Riyadh, according to the report.
Saudi alumni of UK universities from Jeddah, Riyadh, and Dhahran were recognized for their outstanding achievements as business professionals, entrepreneurs, and community leaders, as well as for their contribution to strengthening ties between the UK and Saudi Arabia.
The ceremony was organized by the British Embassy and British Council in Riyadh and attended by senior representatives in government and UK alumni.
According to the news, the International Energy Agency hosted COP President-Designate Dr. Sultan Al Jaber at a special roundtable of ambassadors representing OECD countries and developing economies, which account for 80% of all global emissions.
The COP President-Designate laid out the scale of the challenge and called for transformative climate progress at COP28: "This COP marks the first global stocktake since the Paris Agreement, and its conclusions are not in doubt. We are way off track.
"The bottom line is that the world needs to cut emissions by 43% in the next seven years to keep 1.5 billion people alive.
The GCC countries need to move faster and take bigger steps towards their ESG goals in order to meet their 2050 net-zero targets, says the report.
New York-listed insurer Aon also said countries in the GCC area will have to do more towards environmental and social governance (ESG) if they want to attract foreign investment in a competitive environment.
The UAE wants to reach net zero by 2050, and Saudi Arabia wants to reach it by 2060. However, policymakers need to do more to set goals, as the lack of formal governance around ESG is slowing progress.
The need to move faster applies to companies too. Aon said that across the Middle East, 47% of companies surveyed have a formal climate policy, while 42% have an ESG report in place.
A report says, "The Open Society Foundations today announced that they are giving $1.7 million to a United Nations initiative in the Middle East and North Africa region (MENA) that seeks to catalyze increased public spending on achieving the UN’s Sustainable Development Goals by negotiating reduced national debt service payments."
Importantly, the initiative provides a channel for MENA civil society organizations to have a voice about where such kinds of innovative financing are needed most, it added.
From April 2023 to September 2025, the two-and-a-half-year project partnership will help the UN Economic and Social Commission for Western Asia (ESCWA) work with interested member states and civil society to find investment projects that meet the most urgent needs of MENA societies.
AutoFlight, the global eVTOL (electric vertical takeoff and landing) pioneer, announced it has entered into a contract with EVFLY, on the heels of its record-breaking 250-kilometer all-electric flight, according to the report.
The agreement shows how committed the company is to the Middle East, which both sides think could be a leader in eVTOL services.
AutoFlight’s president, Omer Bay-Yohay, said, "The deal sees EVFLY initially purchasing 205 Prosperity I and Prosperity Cargo Aircraft, with EVFLY operating the first 10 AutoFlight Cargo aircraft in the Middle East, in highly promising markets such as the UAE and Saudi Arabia, with subsequent deployments in Asia and Africa."