Flows of finance into the energy transition reached an all-time high of $501bn last year, up from $458bn in 2019, according to the WEF s Energy Transition Index 2021.
The index, which surveys 115 countries, benchmarks them on the basis of their energy system performance as well as their readiness for transition to a greener energy future.
How are oil exporters gearing up for energy transition?
Oil-exporting countries stand to lose nearly $13 trillion in revenue by 2040 as global economies continue to decarbonise their power systems, according to Carbon Tracker.
These economies are set to face an existential crisis as countries around the world lower their carbon footprint and energy companies set net-zero emissions targets over the coming decades, the think tank said in February.
LONDON: Thousands of women and child refugees will be refused entry to Britain if the government’s New Plan for Immigration is enacted, including those fleeing war-torn countries, according to research by Together With Refugees, a coalition of over 200 national and local organizations.
If pushed through Parliament, the new regulations would mean that most arrivals who would now be accepted as refugees covering people fleeing war or persecution would not be recognized by the UK.
Analysis found that the top five countries from where refugees are accepted by the UK are Iran, Sudan, Syria, Eritrea and Afghanistan.
Refugee organizations and human rights campaigners are now urging the government to abandon the plan.
DUBAI: A new solar-powered car park will be opened at the Abu Dhabi International Airport, with 7,542 solar panels producing electricity for what is described as the largest in the UAE capital. Abu Dhabi Airports and Masdar completed the project that will save approximately 5,300 tons of carbon dioxide per year. The three-megawatt (MW) solar photovoltaic (PV) project is
MANILA: Delivery to the Philippines of the first batches of a promised 17 million doses of AstraZeneca’s coronavirus vaccine made in Thailand has been delayed by several weeks, a Philippine presidential adviser said on Tuesday.
The delay raises questions about AstraZeneca’s vaccine distribution plan in Southeast Asia, which depend on 200 million doses made by Siam Bioscience, a company owned by Thailand’s king that is making vaccines for the first time.
Joey Concepcion, a presidential adviser who has been coordinating vaccine procurement with the Philippine government and private sector, told Reuters that AstraZeneca had told him delivery of the first batch of 1.3 million doses would have to be pushed back from the third week of June to mid-July and also reduced to 1.17 million doses.
BEIRUT: Lebanon’s economic collapse is likely to rank among the the world’s worst financial crises since the mid-19th century, the World Bank said in a damning report released Tuesday. The report predicts that Lebanon’s economy will shrink by close to 10 percent in 2021 and stresses there is “no clear turning point in the horizon.” Lebanon defaulted on its debt last year, the