Page 9 - Dubai

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Making history, COP28 nations agree to 'transition away' from fossil fuels

Coal singled out for phasedown; India calls for climate equity and justice

Unexpected progress

COP28 agrees to 'transition away' from fossil fuels

COP28: Nations strain for consensus as climate talks stretch into overtime

Hectic negotiations continued behind closed doors at the Dubai Expo City Centre long after the 11 am deadline, with officials trying to find common ground on key sticking points, including finance and fossil fuels. Around 10 pm, a COP28 spokesperson updated the media that consultations will continue until 3 am (Dubai time), which effectively means a plenary session to adopt a deal could be held in the morning. "Overnight and throughout today, the COP28 President and his team have been engaging in extensive consultations with a wide representation of negotiating groups and Parties. This is to ensure everyone is heard, and all views are considered. He is determined to deliver a version of the text that has the support of all Parties," the spokesperson said. Released after 11 days of intense negotiations, Monday's draft deal exposed stark disparities in the expectations of both developed and developing nations. Rich countries, such as the US, Australia, New Zealand, Japan, and the ...

UAE trying nearly 90 detainees on terror charges during COP28: Report

The United Arab Emirates is conducting a mass trial of nearly 90 prisoners on terrorism charges as it hosts the United Nations' COP28 climate summit, including one man whose case was highlighted by demonstrators at the negotiations, an activist organization reported Monday. Emirati authorities did not immediately respond to questions over the report by the Emirates Detainees Advocacy Center, a group run by Emirati Hamad al-Shamsi, who lives in exile in Istanbul after being named on a terrorism list by the UAE himself. The state-run WAM news agency also has not run a report on the trial. Al-Shamsi gathered the information from multiple individuals with direct knowledge of the trial. Those on trial face charges of establishing a terrorist organization, supporting and financing it, the center said in a statement. The center is highly troubled by the UAE's apparent fabrication of new charges to extend the sentences of those already released, reflecting the Emirati authorities' ongoing .

COP28 summit: The money food badly needs for climate fight is rolling in

More than $3 billion in climate finance has been pledged for food and agriculture

India opted holistic approach to environment conservation: Bhupendra Yadav

Yadav said, "The mangrove ecosystem in India offers a unique example of existing in harmony with nature. The Sunderbans, lying along eastern India, offers the largest contiguous mangrove forest in the

Climate activists' biggest COP28 protest yet in UN Blue Zone despite ban

Hundreds gathered inside the COP's Blue Zone - officially United Nations territory for the two week of negotiations - alternating between the war in Gaza and climate change to lodge their protest

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