Latest news with #GreenTransition
Zawya
04-08-2025
- Business
- Zawya
Hydrogen insurance could top $3bln by 2030: Allianz Commercial
Hydrogen will play a crucial role in driving the green transition with demand expected to surge in the coming decades. Around 60 governments have adopted hydrogen strategies, while the number of planned projects is already exceeding 1,500 globally compared to around 200 in 2021 – an increase of around 600 per cent. To realise these projects, a total investment volume of $680bn until 2030 may be needed, according to the Hydrogen Council and McKinsey, which will trigger a greatly increased demand for insurance to protect against risks as this investment is activated. Europe is leading the way by far with 617 planned projects and the highest total investment announced at $199bn. While the potential of hydrogen is undoubtable, there are still challenges and headwinds to overcome. The potential size and scope of the hydrogen economy will depend on a range of factors including the evolving political, trade, and economic environment, as well as demand. Policymakers and regulators need to address costs for the development of the infrastructure, so that scaling up at a competitive level towards other energy sources is possible. Across all industries, stringent safety measures will be vital to manage hydrogen's inherent risks. This is where the insurance industry comes into play. As hydrogen becomes integrated into the global economy, insurers can expect to see a significant increase in demand for coverage, with Allianz Commercial expecting the insurance market for hydrogen project coverage to grow to over $3 billion in premiums by 2030. "Insurers have a key role to play in the development of the hydrogen economy, enabling investment and innovation, and providing risk management advice and guidance. Collaboration and knowledge-sharing within this industry are essential for developing best practices and building expertise. By addressing these multi-faceted challenges, the insurance sector can support the growth of the hydrogen economy and help facilitate the transition to net-zero emissions," says Anthony Vassallo, Global Head of Natural Resources at Allianz Commercial. HYDROGEN OFFERS GREAT POTENTIAL IN ASIA PACIFIC, BUT CHALLENGES AND RISKS REMAIN While it holds much promise and has been used in the chemical and refinery sectors for many decades, with risks such as fire, explosion and embrittlement being already well-known, the integration of hydrogen into other industries brings a range of challenges with currently planned mega projects requiring a scale-up of risk management. Energy production facilities will involve hydrogen storage and high-temperature combustion, which can lead to leaks and explosions. In transport, applications like hydrogen fuel cell vehicles will also face risks of hydrogen embrittlement and leaks. Port operators, bunkering facilities and fuel handlers will need to manage highly flammable and cryogenic hydrogen fuels, bringing accident and contamination risks. "Hydrogen holds significant promise in driving the energy transition across the Asia Pacific region, and we are already seeing power generation projects being developed that are designed to run with hydrogen as a potential fuel source. Further collaboration between countries can also be expected, in areas such as storage and transportation infrastructure, that will help to accelerate the deployment of hydrogen in the region. Allianz Commercial, with its proven expertise in low-carbon and energy sectors, is dedicated to supporting clients on their sustainability journey," adds Trent Cannings, Regional Head of Natural Resources & Construction and Head of Specialty Hub at Allianz Commercial Asia Pacific. RISK MANAGEMENT AND MITIGATION ARE CRUCIAL FOR HYDROGEN PROJECTS Given hydrogen's unique properties and high combustibility, ensuring safety throughout the value chain is crucial. Analysis of hydrogen-related incidents shows that undetected leaks can easily lead to explosions; equipment design, maintenance and training can help prevent the escape of flammable hydrogen gas, while the risks of ignition can also be reduced by locating hydrogen facilities in the open. Embrittlement risks can be managed using hydrogen-compatible materials and specifically designed resistant coatings. In addition to preventing incidents, organisations can take steps to limit the extent of property damage, business interruption, and third-party liability. Buildings and facilities should be designed and constructed to withstand natural hazards, fire and explosion, and limit damage to adjacent property and equipment. Robust hydrogen leak detection and isolation systems are also paramount. Human error is also a common factor in large losses. Operational, safety, emergency procedures, and training should be frequently updated, including having robust and well-rehearsed plans in place for accidental releases. "Given the wide reach of the hydrogen value chain and its potential uses, the implications for insurance could be far-reaching, touching on multiple sectors and lines of business over the next decade. However, from an exposure and potential claims perspective, product lines such as Energy, Natural Resources and Liability are likely to see the biggest impact from hydrogen risks over the next five to 10 years, followed by Property and Marine," explains Vassallo. -OGN / TradeArabia News Service Copyright 2025 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Arabian Post
04-08-2025
- Business
- Arabian Post
Government-Private Sector-Civil Society Unite with Global Experts to Accelerate Green Transition Propelling Thailand Toward Low-Carbon Society
Driving Two Key Agendas to Strengthen Global Competitiveness BANGKOK, THAILAND – Media OutReach Newswire – 4 August 2025 – SCG organized the ESG Symposium 2025 under the concept 'GREEN BREAKTHROUGH AMID THE PERFECT STORM' at SCG Headquarters, Bangkok. The event drew over 300 participants comprising key stakeholders driving Green Transition from government, private sector, civil society, and world-class experts who gathered to brainstorm and advance crucial collaboration for transitioning Thailand and the ASEAN region toward a fair and sustainable low-carbon society. Leading international speakers sharing perspectives and approaches for transitioning to sustainability at the ESG Symposium 2025 at SCG Headquarters, Bangkok, Thailand The symposium facilitated policy and practical exchanges on two fundamental agendas that serve as critical keys to the transition, working together to reach conclusions for driving the low-carbon society forward: 1) Energy Transition aimed at elevating energy systems to align with Net Zero targets, and 2) Just Transition for SMEs creating opportunities for small and medium enterprises to genuinely access ESG mechanisms. ADVERTISEMENT The forum was honored by global leaders including Mr. Koji Sato – President and CEO, Toyota Motor Corporation, Mr. David McLachlan-Karr – Regional Director, UN Development Coordination Office (DCO), Asia-Pacific, and researchers from MIT including Dr. Sai Ravela – Principal Research Scientist, Earth, Atmospheric and Planetary Sciences (EAPS), MIT and Prof. Miho Mazereeuw – Director of MIT Climate Mission and Director of Urban Risk Lab, MIT, alongside Dr. Sethaput Suthiwartnarueput, Governor of the Bank of Thailand, who presented approaches for adaptation, building resilience, and enhancing Thailand's long-term competitiveness. ESG Symposium 2025 represents a collaborative platform where all sectors join forces to accelerate the creation of a sustainable regional future, connecting environmental objectives with economic opportunities and preparing ASEAN to address a rapidly changing world. Hashtag: #esgsymposium2025 #GreenBreakthroughAmidThePerfectStorm The issuer is solely responsible for the content of this announcement.
Malay Mail
01-08-2025
- Business
- Malay Mail
Government-Private Sector-Civil Society Unite with Global Experts to Accelerate Green Transition Propelling Thailand Toward Low-Carbon Society
Driving Two Key Agendas to Strengthen Global Competitiveness Leading international speakers sharing perspectives and approaches for transitioning to sustainability at the ESG Symposium 2025 at SCG Headquarters, Bang Sue, Thailand BANGKOK, THAILAND - Media OutReach Newswire - 1 August 2025SCG organized theunder the conceptat SCG Headquarters, Bang Sue. The event drew over 300 participants comprising key stakeholders driving Green Transition from government, private sector, civil society, and world-class experts who gathered to brainstorm and advance crucial collaboration for transitioning Thailand and the ASEAN region toward a fair and sustainable low-carbon symposium facilitated policy and practical exchanges on two fundamental agendas that serve as critical keys to the transition, working together to reach conclusions for driving the low-carbon society forward:aimed at elevating energy systems to align with Net Zero targets, andcreating opportunities for small and medium enterprises to genuinely access ESG forum was honored by global leaders including, and researchers from MIT includingand, alongside, who presented approaches for adaptation, building resilience, and enhancing Thailand's long-term a collaborative platform where all sectors join forces to accelerate the creation of a sustainable regional future, connecting environmental objectives with economic opportunities and preparing ASEAN to address a rapidly changing #esgsymposium2025 #GreenBreakthroughAmidThePerfectStorm The issuer is solely responsible for the content of this announcement.
Euractiv
08-07-2025
- Politics
- Euractiv
EPP holds trump card after far right seizes control of EU climate bill
Greens, socialists and liberal lawmakers are trying to outmanoeuvre nationalist Patriots for Europe group after it secured the right to steer a crucial climate bill through the European Parliament – but they can't do it without the European People's Party. Last week, the European Commission proposed that by 2040 the bloc's net greenhouse gas emissions should be 90% lower than in 1990. The European Parliament and the Council of the EU – which represents national governments – can amend the proposal before adopting it. Time is of the essence as a deal on the 2040 target is politically linked to the decision on the contribution to the global climate effort that Europe has to pledge before the United Nations' COP30 climate change conference opens in November. But with the file in the hands of the climate-sceptic Patriots group, lawmakers who support the ambitious reduction in emissions fear it will be impossible to meet this deadline using the normal legislative procedure. Patriots chair Jordan Bardella, who presides over Marine Le Pen's right-wing National Rally in France, said today that his group was 'resolutely opposed' to the plan to cut emissions by 90%. His group would not abandon industry and ordinary citizens to the "harmful influence of the left and the ecologists', Bardella said. His group later declared that Europe's Green Deal policy needed "a complete reset" rather than "cosmetic adjustments". The Patriots dismissed calls to rush through the legislation as a 'direct attempt to bypass parliamentary scrutiny, avoid a transparent committee process, and block any meaningful revision of the Green Transition'. The group, which is also home to Spain's Vox and Hungarian premier Viktor Orbán's Fidesz, called on the centre-right European People's Party (EPP) to join them. Conservatives hold the key As the largest group in the European Parliament, the EPP will be decisive in any vote on whether to use the urgency procedure to accelerate the passage of the climate bill. Green and centrist lawmakers say the EPP allowed the far-right group the to seize control of the bill by failing to outbid the Patriots in an auction-like process used to assign legislative files in the parliament. The Greens withdrew a unilateral call for an urgent procedure so they could submit a joint request with centrist groups in the hope of securing the EPP's support, the Austrian Green Lena Schilling said. Scenarios If the bill is fast-tracked, the role of the rapporteur nominated by the nationalist group would be 'very limited', said the liberal Renew group lawmaker Pascal Canfin, a former environment committee chair. 'The Patriots can be outmanoeuvred and we will do everything we can to outmanoeuvre them because … they will just sabotage everything in order to not have climate protection,' said the green lawmaker Michael Bloss According to him, the Environment Committee in the European Parliament could discuss the amendments to the European Commission proposal already next week. The pro-Green alliance could then agree compromises on the Commission proposal and vote at committee level by early October. Canfin envisaged the possibility of the Parliament's Environment Committee voting for the same position agreed by EU governments in the Council. This would clearly indicate the will of the two institutions even if final negotiations were still pending. However, sources close to the EPP have told Euractiv that the group would vote against initiating a fast-track procedure on Wednesday – possibly reconsidering after the summer, depending on whether the Patriots do any real work on the file. Such a delay would, at the very least. make it more difficult to secure agreement on the EU law in time for COP30. UN pledge Denmark, which chairs ministerial talks in the Council of the EU until December, recently said that it wants to agree on the 2040 climate goal well ahead of COP30, so the required 2035 pledge can be based on it. The EU could still present its 2035 emission reduction promise to the UN without agreeing on the 2040 target. But it would likely be less ambitious if based on the existing EU climate law, which commits the bloc to net-zero emissions by mid-century but does not set out the pathway to reach that goal. *Eddy Wax contributed reporting (rh, aw)
Qatar Tribune
04-06-2025
- Politics
- Qatar Tribune
EAA Foundation, UNDP partner to empower 1.3 million Uzbekistan Youth
DOHA: Education Above All (EAA) Foundation, a global foundation for education and development, in partnership with the United Nations Development Programme (UNDP) and support from Qatar Fund for Development (QFFD), has launched the initiative 'Empowering and Nurturing Leadership Skills of Youth Through Climate Action Education in Uzbekistan'. The foundation said in a statement that the the three-year project aims to equip over 1.3 million youth with green skills and climate knowledge, fostering a more resilient and sustainable future for Uzbekistan. The statement said that the initiative will train 50,000 teachers, incorporate climate change education into the curricula of all 10,199 secondary schools in Uzbekistan, and provide 4,000 rural youth with specialized training in climate-smart agriculture and renewable energy. In some of the nation's most climate-vulnerable areas, such as the Aral Sea region, 800 young community leaders will also be engaged to carry out local climate action projects. The signing of this initiative comes in the backdrop of World Environment Day on June 5, whose theme this year is an urgent global call to end plastic pollution. Uzbekistan faces pressing climate challenges, with young people and rural populations particularly vulnerable. Despite this, climate education remains largely absent from the country's formal curriculum. This initiative addresses that gap by embedding green skills training within the national education system and vocational training facilities. Aligned with Uzbekistan's Strategy on Green Transition, the project also supports global climate action efforts by contributing to Sustainable Development Goals 4 (Quality Education) and 13 (Climate Action). Through this collaboration, EAA Foundation and UNDP reaffirm their commitment to empowering youth as key drivers of change, ensuring they have the knowledge and skills to lead a greener, more sustainable Uzbekistan. Executive Director of EAA Foundation's ROTA Programme Abdulla Al Abdulla said that: "By embedding climate education into Uzbekistan's national education system, this project will empower over a million youth to confront the climate crisis. Alongside our partners, with support from our strategic partner the QFFD, EAA Foundation is proud to invest in Uzbekistan's youth to be leaders in climate action and resilience." UNDP Resident Representative Akiko Fujii highlighted the project's vision during the launch: "This project ensures youth are not just beneficiaries, but leaders in Uzbekistan's green transition." A key component of the initiative is the Young Green Ambassadors Network, which will empower 800 rural youth to lead grassroots environmental efforts such as tree-planting and waste management campaigns. To foster innovation, national climate competitions will be organised, with winning projects receiving international recognition. Minister of Preschool and School Education Khilola Umarova remarked: "This initiative aligns with Uzbekistan's 'Year of Environmental Protection and Green Economy'. Climate education is essential to prepare our youth to address environmental challenges and become innovators in the green economy." Through this strategic collaboration, EAA Foundation and UNDP are ensuring that Uzbekistan's youth are not just prepared for the future but actively shaping it.
