Latest news with #Net-Zero
Business Recorder
3 days ago
- Business
- Business Recorder
CERP and Princeton launch energy transition roadmap
ISLAMABAD: In a significant step toward building a sustainable and resilient energy future, the Centre for Economic Research in Pakistan (CERP) and researchers from Princeton University have initiated a project to develop a long-term energy transition planning framework for Pakistan. The initiative comes at a time when Pakistan's energy sector faces high costs, volatility, and an overreliance on imported fossil fuels, which account for nearly 60% of the country's energy supply. Outdated infrastructure, inefficient management, and transmission bottlenecks have contributed to persistent power shortages and a growing circular debt crisis, issues that the roadmap aims to address while planning for future growth, sustainability, and climate resilience. The launch event, 'Pakistan's Energy Transition Roadmap,' was part of a two-day workshop, the final of a three-part capacity-building and learning series, which brought together over 50 policymakers, researchers, and private-sector experts. Drawing on Princeton's Net-Zero project expertise, this initiative will provide Pakistan with practical, evidence-based guidance on how to equitably move from reliance on expensive, imported fossil fuels to cleaner, more affordable energy sources aligned with economic growth and development goals. Pakistan's power sector indigenization need of the hour: Awais Leghari Speaking at the event, Federal Minister for Energy SardarAwais Ahmad Khan Leghari emphasized the need for an integrated plan. 'The Energy and Petroleum Division are working separately, but for the plan to be truly effective, it needs to be built on real, credible data...I believe we need to formalize this relationship with CERP to help us plan better and gain valuable insights from their experts. CERP is uniquely positioned to advise us and help us identify the issues they have expertise in.' The Minister added. Bilal Anwar, CEO of the National Disaster Risk Management Fund (NDRMF), added that climate risks and natural disasters make planning ahead more urgent than ever to avoid future social and economic costs. 'This project isn't about imposing ideas, it's about co-creating a roadmap that respects Pakistan's unique challenges while exploring practical opportunities for cleaner, more affordable energy. At CERP, we ensure that every step we take is rooted in rigorous evidence, so that solutions are grounded in real data and tailored to Pakistan's specific needs,' said Maroof A. Syed, President & CEO of CERP. Reflecting on his three years with this workshop series, Dr Chris Greig, Senior Research Scientist at Princeton's Andlinger Center for Energy and Environment, noted, 'These discussions with participants, sector specialists, policymakers and other stakeholders have been valuable in helping us understand the real challenges and the urgency of finding context-specific solutions that work for Pakistan's economy and people. They also help us think about development-compatible pathways to Pakistan's sustainable energy future.' Over the last three years, the Julis-Rabinowitz Center for Public Policy & Finance at Princeton SPIA has cosponsored this workshop series. Pallavi Nuka, the Center's Associate Director said, 'Initially focused on capacity building, these workshops have directly contributed to catalyzing significant thinking about Pakistan's energy policies and fostered valuable collaborations. Building on this foundation, this initiative will help policymakers understand the bigger picture when it comes to planning for Pakistan's future energy needs.' The roadmap project, now beginning its detailed work, will explore multiple, development-compatible pathways to meet Pakistan's growing energy demand, reduce environmental and economic costs, and identify investment opportunities in renewables that support climate resilience. Copyright Business Recorder, 2025
Observer
12-05-2025
- Business
- Observer
RO 769m deals to boost renewable energy projects
MUSCAT: Oman Centre for Net-Zero was inaugurated under the auspices of HH Sayyid Taimour bin Asaad al Said, Chairman of the Board of Directors of the Central Bank of Oman. The centre, which is under the Ministry of Energy and Minerals, will develop and update the national Net-Zero plan, oversee implementation projects, provide advisory support to stakeholders, and refine Oman's 2050 Net-Zero strategy. The event also witnessed the signing of several agreements and MoUs. OQ signed 13 strategic agreements worth over RO 769 million to boost renewable energy projects, supporting Oman's 2050 carbon neutrality goal. Organised by Oman Exhibition and Conference Company under the supervision of the Ministry of Energy and Minerals, the Oman Petroleum and Energy Show (OPES) and Oman Sustainability Week 2025, serve as an integrated platform highlighting the importance of energy security and sustainability. It underscores Oman's commitment to a balanced and advanced future, featuring field visits to sustainability projects in Muscat and other governorates to enhance the event's local and regional impact. Eng Salim bin Nasser al Aufi, Minister of Energy and Minerals, stated that OPES reflects Oman's vision for a sustainable energy future by supporting efforts to reduce carbon emissions and achieve Net-Zero goals. He noted that Oman Sustainability Week aligns closely with Oman Vision 2040 and the UN Sustainable Development Goals, playing a pivotal role in advancing the green circular economy and achieving carbon neutrality by 2050. He added that these events serve as dynamic platforms for knowledge exchange, innovation stimulation, and strategic partnerships that enhance national capabilities and economic resilience. OPES 2025 and Oman Sustainability Week will feature strategic exhibitions, high-level conferences, panel discussions, technical workshops and field visits. By gathering a global community of leaders, innovators, and policymakers, the event accelerates Oman's progress towards economic growth, diversification, climate action and technological advancement — aligned with Oman Vision 2040, the 2050 Net-Zero target, the UN SDGs, and the Paris Agreement. Together, OPES 2025 and Oman Sustainability Week showcase Oman's achievements, reinforcing its position as a key energy player and regional leader in sustainable progress. Over 50 countries are participating in OPES, represented by more than 350 exhibitors and 2,400 delegates from diverse global sectors, highlighting Oman's growing role as a hub for international energy and sustainability dialogue. On this occasion, OQ Exploration and Production inked four contracts exceeding RO 21 million with local firms and SMEs in its concession areas. Additionally, OQ launched the 'Tamayuz' programme, partnering with the Oman Energy Association to train 430 Omani graduates in technical and non-technical fields, enhancing human capital development. Abraj Energy Services signed a drilling contract with Ara Petroleum for three wells in Concession Area 44, with expected revenues of RO 1.6 million. Drilling is set to begin in Q2 2025.
Business Wire
02-05-2025
- Business
- Business Wire
Imperative Appoints John Nagulendran as Chief Growth & Investment Officer and Member of the Board
NEW YORK--(BUSINESS WIRE)--Imperative, a leading next-gen carbon project development company, today announced the appointment of John Nagulendran as Chief Growth & Investment Officer and Member of the Board of Directors. Mr. Nagulendran is a seasoned executive who brings more than 20 years of experience in strategy development, M&A and corporate finance, investment management and corporate governance to Imperative. In his new role, he will support Imperative CEO Scobie Mackay with identifying and executing Imperative's capital and strategic growth plans. He will also be responsible for delivering scalable sustainable growth opportunities across the business alongside Imperative's global team and leading strategic engagement with the company's investors, governments, civil society and other stakeholders in connection with Imperative's commitment to combat climate change. Scobie Mackay, CEO of Imperative, said: 'We are very pleased to welcome John to Imperative. John brings an impressive combination of natural resources investment, private equity and M&A experience, and proven leadership capability to the role. We look forward to working with him to deliver Imperative's mission of developing high-integrity, large-scale ecosystem restoration and management projects that enhance and protect biodiversity, improve the livelihoods of communities and contribute to the transition towards Net-Zero.' 'Imperative approaches its projects as Nature Infrastructure, bringing infrastructure-grade projects capabilities to the ecosystem restoration and management sector. John's strategic vision and extensive experience in the financing and management of natural resources assets, are directly aligned with Imperative's objective of bringing best-in-class know-how from adjacent markets to bear on nature-based projects.' Imperative's objectives Established in 2022, Imperative is committed to using the Voluntary Carbon Market, through a focus on integrity and quality, to accelerate a just climate transition. Imperative's goal is to be in the top 10% of quality in the market and to assist in defining what 'high-quality' looks like for nature restoration and management projects. In doing so, Imperative is working to deliver against key design, execution and monitoring, reporting and verification criteria that are becoming the benchmarks for quality in the market, including Microsoft and Carbon Direct's Criteria for High-Quality Carbon Dioxide Removal, ICVCM Core Carbon Principles criteria, and other industry guidance for best-in-class projects. Imperative's corporate developments Imperative's ecosystem restoration and management projects are designed to create not only large-scale climate and biodiversity impacts and to sequester a substantial amount of carbon dioxide from the atmosphere, but also to enhance and protect biodiversity and to deliver transformative outcomes for local communities through financial benefit sharing, training, employment and local restoration and conservation initiatives. Key recent developments for Imperative include: Spekboom Ecosystem Restoration Project. Launch of its first phase 10,000-hectare ecosystem restoration project in South Africa, which at full scale aims to restore 100,000 hectares of land through active replanting of native thicket across a vast area in the Eastern and Western Capes. The Spekboom Project, which has received an ex ante BeZero Standalone Carbon Rating of 'aa' and a BeZero Carbon ex ante Rating of 'Ae', is being executed under Verra VM0047 methodology and funded by Mirova, an affiliate of Natixis Investment Managers dedicated to sustainable investing, along with GenZero, a Temasek-owned investment platform focused on accelerating decarbonisation globally and Rubicon Carbon, a carbon credit management firm backed by TPG Rise Climate. A 50,000-hectare Phase 2 of the project is expected to commence execution in the second half of 2025. Strategic Partnerships. Establishment of strategic partnerships with Rubicon Carbon, Freepoint Commodities and Artemeter, a DRW Company, for the development, financing and marketing of up to US$750 million of Imperative's high-quality, large-scale projects, bringing together institutional capital, specialized carbon know-how and deep projects expertise. Project Pipeline. In addition to the expansion of its South African project, Imperative has a pipeline of large-scale Nature-Based Solutions carbon dioxide removals projects across Africa, Asia and Latin America, including near-term projects in Peru, Mexico and India. John Nagulendran's background Prior to joining Imperative, Mr. Nagulendran spent 14 years at Swiss-based Pala Investments where he was responsible for structuring and executing public and private equity raisings, project financings, joint ventures, mergers and acquisitions and divestments in the natural resources and critical minerals sector. He was previously at Herbert Smith Freehills and Rajah & Tann, spending over 8 years advising clients on cross-border investments, corporate transactions and project financings. Mr. Nagulendran serves on the Board of Kofi Annan Foundation and is the founder of Nagulendran Philanthropy Alliance, a family philanthropic fund dedicated to supporting and investing in dialogue, mediation and peacebuilding. He holds a bachelor's degree in law from King's College London and is a qualified lawyer in both England and Singapore. About Imperative Imperative is committed to advancing carbon credit project development, operations, and the production of high-quality carbon credits. We believe that nature-based projects can be executed to an infrastructure-grade of quality. With expertise in carbon markets, ecosystem restoration, and major-projects project execution, Imperative focuses on emerging markets and scalable project types. By taking a hands-on approach to project development and operations, and importing knowledge from other sectors, Imperative aims to address quality issues in voluntary carbon markets at the source. Our mission is to design, develop, own and operate, at scale, the best carbon credit projects in the world and to optimize those projects using technology. For more information, visit
Observer
23-04-2025
- Business
- Observer
Omani startup wins $1 million XFACTOR award
NEW YORK: Omani startup 44.01 was on Wednesday announced as the winner of the Air category of the XPRIZE's carbon removal competition and awarded a $1 million XFACTOR prize. 44.01's project, based in Fujairah, UAE, uses Direct Air Capture technology to capture CO₂ from the air, which 44.01 then mineralises, ensuring it can never escape back into the atmosphere. The four-year global XPRIZE competition challenged teams around the world to develop high-quality carbon dioxide removal solutions that are scalable to gigatonne level. More than 1,300 teams from nearly 80 countries competed. 20 finalists were selected in May 2024, with the winners announced in New York. 44.01's project is one of the world's first in the world to capture CO₂ from the atmosphere and store it durably underground. The XPRIZE Judges felt the project represents a compelling example of a safe, high-quality, scalable carbon removal solutions with potential to make a meaningful difference in the fight against climate change. Talal Hasan, Founder and CEO of 44.01, said 'The success of Project Hajar is testament to the leading role our region can play in decarbonising our atmosphere, providing new jobs and opportunities as we navigate the energy transition. Our climate needs decarbonisation solutions that can be deployed at scale and we are working hard to scale up our technology in the Middle East and export it around the world.' 44.01 has demonstrated its mineralisation technology in Oman and the UAE; and is now working to scale its technology and expand internationally. Mineralisation can be deployed on every continent and can play a significant role in helping remove CO₂ from the atmosphere, decarbonise heavy industries and help countries reach their Net-Zero ambitions.
Saraha News
23-04-2025
- Business
- Saraha News
Zain publishes 14th annual sustainability report, titled ‘The New Paradigm Shift'
Zain Group, a leading provider of innovative ICT and digital lifestyle communication services operating in eight markets across the Middle East and Africa, released its 14th annual sustainability report, entitled: 'The New Paradigm Shift,' reflecting the company's dedication to responsible business practices. Zain remains one of the most transparent and accountable corporate entities in the entire Middle East and North Africa region with respect to the publication of its sustainability programs and their outcomes. As in previous years, the report reflects Zain's commitment to meaningful connectivity that leads to equitable systemic change and empowers the communities that Zain proudly serves, which is at the center of Zain's Corporate Sustainability strategy on development and economic empowerment. 'The New Paradigm Shift' highlights the numerous sustainability programs and their outcomes implemented under the four pillars of Zain's corporate sustainability strategy – namely 'Climate Change; Operating Responsibly; Inclusion; and Generation Youth'; that embrace and emphasize the material importance to the company of addressing issues related to preserving the planet and safeguarding it for future generations; access to connectivity and reducing the digital literacy gap; displacement; as well as employee development and social well-being, given the rise in geo-political and economic issues regionally. Commenting on the publication, Zain Group Chief Sustainability Officer, Jennifer Sulieman said, 'We are in an era of technological innovation that allows us to develop and introduce initiatives that are the most impactful they have ever been. Zain takes responsibility as a regional pioneer in bringing the latest technologies that drive positive societal development and meaningful connectivity across our footprint.' Suleiman continued, 'What Zain does matters, and we continue to implement ESG principles, climate action, children rights, displacement, connectivity, advancing digital transformation, literacy, and stakeholder collaboration to build resilience, so that amid socio-economic challenges and regional conflicts, Zain may remain a beacon of hope, delivering life-changing solutions for the benefit and upliftment of current and future generations.' Key highlights During 2024, the company's agenda continued to be driven by efforts to address socio-economic and environmental challenges across its footprint. Zain cemented the four pillars of its sustainability strategy through a comprehensive engagement process with various stakeholders. These included: Climate Change: Focused on decarbonizing the business and transition towards Net-Zero by 2050 by receiving official approval from SBTi on its Net-Zero targets, Zain developed its water management plan to the unique conditions of each country operation. The plan detailed specific measures aimed at improving water usage across all of Zain's markets that saw the company achieve a 5.89% reduction of water consumption in comparison to 2023. Furthermore, Zain continued in its commitment to CDP and provided its Climate Change Action, demonstrating a commitment to biodiversity conservation and nature preservation as integral components of its broader dedication to climate action. For example, Zain Omantel International (ZOI) requires its partners to conduct thorough environmental impact assessments aligned with regulatory and international standards. Operate Responsibly: Embedding Environment, Social, and Governance (ESG) principles across the entire value chain, the company further developed and scaled the supplier training program, launching its second training video highlighting the importance of upholding human rights, promoting ethical labor practices, as well as setting up grievance mechanisms. Zain trained 185 suppliers in 2024 in Zain's Supplier Code of Conduct, human rights and anti-corruption. Additionally, Zain continued its Supplier Self-Assessment questionnaire process with 604 suppliers groupwide to validate their commitment and alignment to sustainability policies and ethical principles. In addition, the company continued to contribute to employment opportunities through Zain's distribution channel, in 2024 the company generated around 114,000 jobs across its value chain. Inclusion: Aiming to reduce the digital inequality gap, the fourth cycle of 'Women in Tech' program launched in Kuwait, Bahrain, Iraq, Jordan, Saudi Arabia and Sudan to better address the needs of the target community through focus groups, surveys, and feedback sessions. A total of 485 young women joined the program across the Group, reflecting a 16% increase from 2023. Similarly, to better serve customers from the disability segment, the company provided specialized bundles for this demographic in Bahrain, Jordan, Kuwait and Saudi Arabia. Zain continued to place a high priority on enhancing the skills of its employees either by upskilling or reskilling its workforce in line with the company's 4SIGHT digital transformation strategy. The Zain Inclusion, Diversity, & Equity University (IDEU) continued its collaboration with the prestigious IE University in Spain with the aim of extending learning opportunities to 2,000 Zain employees to participate in an inclusive online Digital Transformation program, also offering the possibility of attaining a master's degree. Generation Youth: Aimed at building resilience across communities by targeting 16 million children and youth, the company was recognized amongst 3,000 of the largest corporations globally on key children's rights categories, whereby the company scored higher than the sector and industry averages, tripling the ranking of many regional corporates. In the benchmarking rankings, Zain scored 8.4/10 overall against a sector average of 5.6/10 and a regional average of 2.8/10. The average of all companies benchmarked was 4.3/10. As an advocate for children's rights and in alignment with the UN's Sustainable Development Goal 16.2, which aims to end all forms of violence against children by 2030, Zain continued to support the cause by introducing a powerful campaign in response to the rising global violence that is impacting children disproportionately. This initiative followed the escalating crises and conflicts worldwide, where children are bearing the brunt of severe hardships and violence, affecting their physical and mental well-being. The campaign, titled #EveryChildHasRights, was designed to highlight the critical threats faced by children in conflict-affected regions and support for their protection. It included a compelling video underscoring the urgent need to safeguard children's rights, engaging audiences in meaningful and emotional dialog. Through this campaign, Zain aimed to create a global call to action and foster a deeper understanding of the pressing issues at hand. The campaign successfully garnered 16.5 million impressions across Zain's footprint during 2024, amplifying its message and driving significant awareness on this crucial issue. Also in 2024, Zain launched a two-phase campaign on excessive screen time focusing on both children and parents, reaching 43.9 million impressions and prompting 82% of viewers to set screen time boundaries. Polls undertaken of the successful campaign indicated a 100% increased awareness on managing screen use. Moreover, Zain continued its partnership with Child Helpline International (CHI), advancing its three-year MoU to support and improve the effectiveness of child helplines across Zain's footprint. This collaboration strengthens engagement between helplines and key child protection stakeholders, including governments and regulators, while advancing platform technologies and expanding services to instant messaging and social media. Towards the end of 2024, Zain unveiled a new enhanced five-year corporate strategy, '4WARD-Progress with Purpose'. The new program builds on the success of the 4SIGHT strategy and is focused on continuity, acceleration, collaboration and innovation, and is designed to foster value creation by accelerating the company's evolution from a predominantly mobile centric operator into a purpose driven and sustainability focused technology entity. Zain looks to maximize its full potential as a customer-centric, future-proof, and impactful leading regional TechCo conglomerate, and its sustainability strategy will be adapted accordingly
