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COP28 summit: Activists plan 'day of action' to press negotiators

Protests aimed at pressuring nations to move decisively to stop climate change were expected to be their most intense yet on Saturday, a Global Day of Action with events at United Nations-led talks in Dubai and around the world. If activists needed any additional energy, they may have gotten it with reports that OPEC's chief had urged its oil-producing members to reject any agreement that targets fossil fuels for a speedy phase-out. It's the central issue as talks head into their final days, as activists and experts have warned that the world must quickly reduce use of the oil, gas and coal that is causing dangerous warming. Mohamed Adow, director of Power Shift Africa, called the Dec. 6 letter from OPEC Secretary-General Haitham Al Ghais, reported by several news organizations, shameful and said the writing is on the wall for dirty energy. The reality is if the world is going to save itself, it cannot be held back by a small band of countries that control the world's oil supply, Ad

IREDA floats retail division for business to customers loans at COP28 event

State-owned Indian Renewable Energy Development Agency has floated a retail division for providing loans under PM-KUSUM scheme, Rooftop Solar, and other Business-to-Consumer (B2C) sectors. IREDA Chairman & Managing Director Pradip Kumar Das announced the launch of the retail division while he was speaking during the Leaders' Dialogue on 'Actioning Solutions for Global Sustainable Development and Governance of Resources' on December 7, 2023, organized by CEEW & CII as part of COP28 in Dubai, IREDA said in a statement. Shortly after opening, IREDA's retail division quickly sanctioned its first loan amounting to Rs 58 crores under KUSUM-B, it said. Das also proposed a significant stride towards sustainable investing by suggesting a 1 to 2 per cent Assets Under Management (AUM) allocation for domestic pension and insurance funds into Renewable Energy (RE) bonds. This strategic move aims to deepen bond markets, fostering increased global and local investments.

Dubai court orders release of SpiceJet aircraft seized due to litigation

Domestic airline SpiceJet on Friday said one of its aircraft which was seized and grounded in Dubai in late October due to litigation has now been released following an order of the Dubai International Financial Centre (DIFC) Court. In a DIFC Court hearing on December 7, the Order was discharged in favour of SpiceJet, SpiceJet said in a statement. Additionally, the Judge has directed an inquiry into losses suffered by SpiceJet as a result of the Order having been made. The Court has further ordered to pay towards the legal costs incurred by SpiceJet, the airline claimed in the statement. According to SpiceJet, the DIFC Court on October 30 issued a freezing order (Order) in relation to certain engines installed on aircraft bearing Indian registration, VT-SLM. As a result of this order, the aircraft was grounded at Al Maktoum International Airport, Dubai *DWC) and has remained there since (then), SpiceJet said in the statement. Summarily, there isn't any Order of the DIFC Court ...

Hospital and pharmacy chain Aster to fuel India expansion through buyouts

Aster plans to add an additional 1,500 beds to the current 4,800 capacity in the world's most populous country over the next three years and "look at companies that are not listed

Hedge fund trader Sanjay Shah extradited to Denmark a year after arrest

Shah was taken into custody by police on his arrival in Copenhagen on Wednesday, and will be taken to court for a bail hearing on Thursday morning, Danish police said in a statement

COP28: Renewables a way to phase out fossil fuels, says TotalEnergies

Governments at previous climate talks agreed to phase down the use of unabated coal, but the talks, hosted by oil power United Arab Emirates, have so far been split on the future role of fossil fuels

Ukrainian diplomats negotiate climate change at COP28 summit in Dubai

While Ukrainian diplomats take part in negotiations at the United Nations COP28 climate talks, Russia's war on the country lurks just in the background even as the United Arab Emirates has seen its business ties to Moscow surge despite Western sanctions. As Ukraine announced a 450 million euro ($489 million) expansion Monday of a wind farm in its Mykolaiv region, officials highlighted how its turbines would be spread far enough apart to survive any Russian missile attack. They decried continued attacks by Moscow on its energy infrastructure as snow storms grip the country. And an American diplomat forcefully denounced Russian President Vladimir Putin at an event that's seen demonstrators stopped from naming Israel in their protests over its pounding airstrikes and ground offensive in the Gaza Strip against Hamas. The war in Ukraine Putin's invasion represents a fundamental challenge to the international system that the United States and our allies and partners are trying to build,

TMS Ep575: Dubai COP28, CEO-board relation, BSE Midcap, rat hole mining

Why is Dubai COP28 important? Altman and OpenAI: What's the role of the board? BSE m-cap @$4trn: Will the optimism last? What is rat hole mining? All answers here

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PM Modi arrives in New Delhi after attending COP28 Summit in Dubai

PM Modi wrapped up his day-long visit to the UAE on Friday evening after participating in the World Climate Action Summit of the COP28

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Why is 1.5 deg C the most misunderstood number in the climate fight

When it comes to the collective goal of limiting global temperature rise to 1.5C, there's been only one acceptable talking point in the runup to the COP28 conference in Dubai

Pressure builds to cut fossil fuel use as oil exec takes over climate talks

Pressure to phase out fossil fuels mounted Thursday on the oil company chief who took over fragile international climate negotiations that opened in Dubai on Thursday in what some say are contradictory dual roles. United Nations and climate talks leaders might have relieved some of the pressure when negotiators unanimously approved much-fought over plans to launch and fund a program to compensate poorer nations hit by floods, storms, drought and other climate extremes. Several nations, led by host United Arab Emirates, immediately pledged more than $420 million for the fund, which took 30 years to approve. Leaders said they hope the quick win on a key financial issue would set a new tone for negotiations that had put the climate talks newly installed boss on the hot seat and not just because the planet keeps smashing heat records. Days before the United Nations Conference of Parties (COP28) began, meeting preparation notes were published that linked efforts by the United Arab Emirat

PM Narendra Modi arrives in Dubai to attend World Climate Action Summit

Prime Minister Narendra Modi Thursday called for supporting developing countries with adequate climate financing and technology transfer to enable them to deal with climate change as he arrived here to attend the World Climate Action Summit in the Gulf emirate. Before leaving Delhi, Modi said he was happy to see that this significant event is being held under the Presidency of the UAE, an important partner for India in the field of climate action. "In keeping with our civilizational ethos, India has always laid emphasis on climate action even as we pursue social and economic development," he said. "During our G20 presidency, climate was high on our priority. The New Delhi Leaders' Declaration includes numerous concrete steps on climate action and sustainable development. I look forward to the COP28 taking forward the consensus on these issues," Modi said in his departure statement. Modi will attend the World Climate Action Summit on Friday during the United Nations 'Conference of t

COP28 starts tomorrow: What to expect from UN's annual climate negotiations

Forming agreement over future of fossil fuels and who pays for climate damages on agenda

As Dubai prepares for COP28, some world leaders won't attend climate talks

Dubai prepared to host the COP28 climate talks on Tuesday as world leaders including US President Joe Biden signalled they would not be attending the negotiations that come during the ongoing Israel-Hamas war roiling the wider Middle East. Workers under a still-scorching November sun stapled up bunting and decorated Dubai Expo City's iconic Al Wasl Dome with trees and other green foliage ahead of the summit, scheduled to start Thursday in the United Arab Emirates. Armed United Nations police patrolled about half the area of Expo City where the delegates will debate, while the other half will host other climate events. Airport-style security screenings greeted those coming into both areas. The two-week meeting of international leaders aims to assess where the world stands when it comes to limiting emissions to slow global warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit) compared with pre-industrial times. Emirati officials said on Tuesday they expect over 70,000 attendees at t

US President Joe Biden to skip COP28 climate summit in Dubai: Report

The event is expected to be attended by King Charles III, Pope Francis, and leaders from nearly 200 countries, according to The New York Times

PM Modi will visit Dubai to attend World Climate Action Summit, says MEA

Prime Minister Narendra Modi will pay a two-day visit to Dubai this week to attend the World Climate Action Summit, the Ministry of External Affairs (MEA) announced on Sunday. It said Modi is visiting Dubai from November 30 to December 1 at the invitation of Sheikh Mohamed bin Zayed Al Nahyan, the President of the United Arab Emirates and ruler of Abu Dhabi. The World Climate Action Summit is the high-level segment of the 28th Conference of Parties (COP-28) to the United Nations Framework Convention on Climate Change (UNFCCC). The COP-28 is being held in Dubai from November 28 to December 12 under the presidency of the UAE.

Climate concert in Dubai to highlight 'urgency of a planet in dissonance'

An upcoming climate concert, named Resonance, will bring together multiple voices from across the globe to raise awareness about the "urgency of a planet in dissonance - that must be healed for humanity". Hosted by San Francisco based non-profit BayEcotarium jointly with United Nations Convention to Combat Desertification (UNCCD), the musical event will take place on December 6 in Dubai Opera, during the United Nations COP28 Climate Summit scheduled to be held in UAE from November 30 - December 12. "Music transcends geopolitical and linguistic boundaries and is the soul of civil societies. The Climate Concert is the coming together of multiple voices from around the world during the historic UNCOP28, in solidarity with combating climate change. Aptly named Resonance- its intent is to bring awareness to the urgency of a planet in dissonance - that must be healed for humanity," George Jacob, president and CEO of BayEcotarium, told PTI. The event will see live performances by multiple

COP28 Business and Philanthropy Climate Forum to begin on Nov 30 in Dubai

The Forum, taking place from 1-2 December alongside the World Climate Action Summit, will convene over 1000 global Heads of State, Government and other stakeholders