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UAE Extends Year of Sustainability to 2024: Building on COP28 Momentum
The announcement came on the occasion of the National Environment Day
UK-India Free Trade Deal Stalled Over Carbon Tax: Report
India has proposed a variety of options, ranging from a longer transition period to a complete exemption, arguing for special consideration as a developing nation.
State Owned REC Raises Rs 3,500 Crore through Yen-Denominated Green Bonds
REC’s bond issue is the largest ever Euro-Yen issuance in South and South East Asia, largest Yen-denominated issuance from India, and largest non-sovereign Yen-denominated issuance ever from South and South East Asia
UK to Implement Carbon Import Levy on Certain Goods by 2027
The carbon border adjustment mechanism (CBAM) will be applied to carbon-intensive products and it will be determined based on the carbon emissions in the production of imported goods and the gap between the carbon prices in the country of origin and the UK
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Middle East ESG Weekly Round-Up
ESG news from Middle East this week.
New EU Green Rules to Hurt Developing Country Exporters
The Ecodesign for Sustainable Products Regulation (ESPR), recently adopted by the EU, mandates stricter environmental standards for a wide range of goods sold within the bloc.
Tata Communications Secures $250 Million Sustainability-linked Loan
The five-year sustainability-linked loan (SLL) is the first of its kind for Tata Communications under their newly established SLL framework.
Offshore Wind Capacity of 410 GW to be Installed Over the Next 10 Years
GWEC’s report pinpoints a significant acceleration in offshore wind installations towards the end of the decade, with two-thirds of the projected capacity coming online between 2029 and 2033.
IFC Invests $105 Million in Brookfield’s Solar Project
The IFC’s investment will be made through long-term loans allocated to the project’s special purpose vehicles and entities responsible for its implementation.
Middle East ESG Weekly Round-Up
Major ESG Updates in Middle East this week.