Latest news with #green transition
Malay Mail
7 days ago
- Business
- Malay Mail
Anwar: Malaysia, South Korea set sights on bigger trade and defence partnership
KUALA LUMPUR, July 23 — Malaysia and South Korea have agreed to continue expanding strategic cooperation in the areas of trade, investment, green transition, digitalisation, and defence, said Prime Minister Datuk Seri Anwar Ibrahim. He said the matter was discussed during a courtesy visit by South Korean President's Special Envoy Kim Young Choon, who is currently on a working visit to Malaysia. 'Alhamdulillah, both countries continue to agree to expand cooperation in the fields of trade, investment, green transition, digital and defence,' he said in a post on Facebook today. Anwar said that South Korea is now Malaysia's eighth-largest trading partner, with total trade worth US$23.94 billion (RM113 billion) last year. He also welcomed South Korea's intention to finalise the free trade agreement and a memorandum of understanding in the defence industry by October. Anwar said both parties also exchanged views on preparations for the 2025 Asia-Pacific Economic Cooperation (Apec) Economic Leaders' Summit, which will be held in Gyeongju, South Korea, from Oct 31-Nov 1, the third time the country has hosted the summit after 1991 and 2005. 'Malaysia supports Korea's leadership in this summit to drive a progressive and inclusive regional agenda,' he said. Anwar also extended an invitation to South Korean President Lee Jae-myung to attend the 47th Asean Summit scheduled to be held in Kuala Lumpur this October. 'Malaysia remains committed to strengthening cooperation with Korea to achieve enduring regional peace and prosperity,' he said. — Bernama
Arab News
22-07-2025
- Business
- Arab News
Young Saudis will power the Kingdom's green future, says expert
RIYADH: As Saudi Arabia pursues its Vision 2030, sustainability has become a national priority. With more than 63 percent of the population under 30, young Saudis are emerging as key drivers of the Kingdom's green transition. Eman Alhajji, a scientific researcher and founder of the Saudi Youth for Sustainability initiative, believes the role of Saudi youths goes beyond participation. In 2021, she was named Young Changemaker for leading sustainability initiatives by Universita della Svizzera italiana during the MEM Summer Summit, in collaboration with the Middle East and North Africa Division of the Swiss Federal Department of Foreign Affairs. 'Young Saudis bring an intrinsic value rooted in their unique perspective,' she told Arab News. 'They possess a digital fluency and global awareness that allows them to seamlessly connect with international best practices and rapidly disseminate information.' This combination, she said, makes them 'indispensable partners in shaping a resilient and prosperous Kingdom.' The presence of younger generations is increasingly visible in major efforts such as the Saudi Green Initiative, the Middle East Green Initiative, and global platforms such as COP27 and COP16. We are not only nurturing a generation of environmental stewards but also cultivating a new generation of green entrepreneurs, engineers and digital innovators — ensuring that Saudi Arabia's economic diversification is synonymous with sustainable growth and technological leadership. Eman Alhajji, Saudi Youth for Sustainability initiative founder From renewable energy storage to sustainable agriculture and advanced recycling, youth-led initiatives can serve as incubators for the green economy. 'We are not only nurturing a generation of environmental stewards but also cultivating a new generation of green entrepreneurs, engineers and digital innovators — ensuring that Saudi Arabia's economic diversification is synonymous with sustainable growth and technological leadership.' A 2024 PwC report supports this, showing that 91 percent of Saudi youth are familiar with the United Nations Sustainable Development Goals, prioritizing quality education, clean water and sanitation, zero hunger, peace, justice and affordable clean energy. It also noted that young Saudis are showing increasing interest in fields such as health care, renewable energy and tourism, viewing them as ways to make an impact while building the future. Education remains a cornerstone. While AlHajji acknowledged progress in integrating sustainability into the Saudi school system, she called for more interdisciplinary and problem-based approaches. 'Sustainability should be seamlessly integrated across all subjects — from science and engineering to economics, urban planning, and even the arts — demonstrating its pervasive relevance,' she explained. Hanin Aljifri, CEO of the Saudi Youth for Sustainability organization, echoed the sentiment, while noting a gap between awareness and action. 'The biggest challenge isn't a lack of interest — it's a lack of clear starting points. Many young people simply don't know where to begin or how to take the first step.' Despite this, she remains optimistic. 'We've seen firsthand that a large number of youth in Saudi Arabia are eager to get involved in sustainability; they're passionate, motivated, and ready to contribute.'
Telegraph
22-07-2025
- Business
- Telegraph
If one green energy plant costs £36bn, there's no hope for net zero
It is reliable, safe, and while it is not one hundred per cent carbon-free once you factor in the impact of mining for all the minerals, it is about as green as you can possibly get. There are plenty of strong arguments for increasing Britain's supply of nuclear energy, and the Energy Secretary Ed Miliband has made the right decision today in approving the Sizewell C power station. There is just one catch. The cost has doubled over the last five years, and will double again before its reactors are switched on. In reality, Miliband and the Green Commissars around him are allowing red tape and bureaucracy to drive the cost of the green transition to astronomical levels – and that will destroy the whole project. It will at least help make sure we have enough power to keep the lights on when the wind turbines aren't working. The Sizewell C nuclear power plant will generate enough power for about six million homes once it is finished. The Government will own a majority stake, but the British Gas-owned Centrica, France's EDF, along with some investment funds, have been strong-armed into taking stakes, while the taxpayer-financed National Wealth Fund will provide much of the finance. 'It is time to do big things and build big projects in this country again,' boasted Miliband as he announced the project. Here's the problem, however. The plant will cost £38bn, almost double the £20bn that was estimated when it was first under discussion five years ago. If anyone believes it will actually get delivered at anything close to that figure I have a 'pre-loved' windmill I would like to sell them. Given the atrocious cost overruns that plague every major infrastructure project in the UK the final cost will be well over £60bn and perhaps as high as £80bn. It is going to be an incredibly expensive piece of kit. It does not have to be this way. Nuclear power plants can be built at far lower cost. In France, a new plant costs an estimated €11-12bn euros, and even the Flamanville Plant, which suffered significant cost overruns, only came in at €13bn euros. Sure, costs vary according to their size, and type of reactor. But Britain Remade, a think tank, estimated Britain has the second highest costs in the world behind only the United States (which prefers to focus on its abundant fracking industry). In this country, nuclear costs an estimated £9.4bn per megawatt to build, compared with £4.4bn in France, and £2.2bn in South Korea. Given that upfront capital costs are the major expense with nuclear power – once it is up and running it is very cheap – that means energy bills will be two or three times higher for homes than they would be if we could build at the same price as South Korea. We all know the reason why. Britain has allowed the cost of building even a minor pedestrian bridge, never mind something as controversial as a nuclear power station, to be smothered in red tape. Planning reports run to tens of thousands of pages, legal challenges are allowed at every step of the way, and every form of wildlife is prioritised over the long-suffering British taxpayer. If Miliband was serious about hitting his net zero targets he would ruthlessly slash red tape until we got down to South Korean levels. If he could do that, we could take the cost of Sizewell C down to £10bn. And yet, the harsh truth is this. Miliband and the Green Commissars care even more about rules, regulations and state control than they do about saving the environment. If Miliband let the market work he could deliver green energy on time, at reasonable cost – but none of us should hold our breath waiting for that to happen.
Zawya
21-07-2025
- Automotive
- Zawya
Egypt's private sector attracts $6.9bln investments from 1,600 German companies: Al-Mashat
Arab Finance: Around 1,600 German companies operating in Egypt have injected a total investment worth over €6 billion into the country's private sector, mainly the energy, green transition, and industrial development sectors, Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat announced. On top of these companies are Siemens, Mercedes-Benz, Duravit, and Bosch, Al-Mashat affirmed, noting that trade exchange between Egypt and Germany hit about €66.8 billion. Her remarks were made during a meeting in New Alamein City with Reem Alabali-Radovan, Federal Minister for Economic Cooperation and Development of Germany, following the fruitful discussions held at the 4th International Conference on Financing for Development (Ff4D) in Seville, Spain. The minister mentioned that the government, in cooperation with Germany, is mulling over boosting development financing for the private sector via German financing institutions. The government is also seeking to launch a platform similar to NWFE's to attract international partnerships in the industrial development sector. Commenting on the Egyptian-German Debt Swap Program, Al-Mashat stated that it is valued at a total of €340 million, including a new tranche worth €100 million to be activated by the end of this year and mid-2026. She indicated that the program contributed to financing various projects in the fields of technical education, health, climate action, applied technology schools expansion, and water and sanitation projects. The official also addressed the financial cooperation agreement (FCA) between Egypt and Germany, which was signed on May 25th, 2025. the agreement includes financing packages at a value of €118 million, provided as concessional loans and development grants. Al-Mashat also referred to the remarkable recovery in Egypt's economic growth indicators in the first nine months of fiscal year (FY) 2024/2025. She noted that the state is working on reinforcing economic stability to draw in further foreign investments. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Malay Mail
20-07-2025
- Automotive
- Malay Mail
Hanoi's green transition may clear the air, but is the cost of switching to electric bikes too much for everyday commuters?
HANOI, July 20 — Vietnam's plan to bar gas-guzzling motorbikes from central Hanoi may clear the air of the smog-smothered capital, but riders fear paying a high toll for the capital's green transition. 'Of course everyone wants a better environment,' said housewife Dang Thuy Hanh, baulking at the 80 million dong (RM12,986) her family would spend replacing their four scooters with electric alternatives. 'But why give us the first burden without any proper preparation?' grumbled the 52-year-old. Hanoi's scooter traffic is a fixture of the city's urban buzz. The northern hub of nine million people has nearly seven million two-wheelers, hurtling around at rush hour in a morass of congestion. Their exhausts splutter emissions regularly spurring the city to the top of worldwide smog rankings in a country where pollution claims at least 70,000 lives a year, according to the World Health Organization. The government last weekend announced plans to block fossil-fuelled bikes from Hanoi's 31 square kilometre (12 square mile) centre by next July. It will expand in stages to forbid all gas-fuelled vehicles in urban areas of the city in the next five years. Hanh — one of the 600,000 people living in the central embargo zone — said the looming cost of e-bikes has left her fretting over the loss of 'a huge amount of savings'. While she conceded e-bikes may help relieve pollution, she bemoaned the lack of public charging points near her home down a tiny alley in the heart of the city. 'Why force residents to change while the city's infrastructure is not yet able to adapt to the new situation?' she asked. Many families in communist-run Vietnam own at least two motorcycles for daily commutes, school runs, work and leisure. Proposals to reform transport for environmental reasons often sparks allegations the burden of change is felt highest by the working class. London has since 2023 charged a toll for older, higher pollution-emitting vehicles. France's populist 'Yellow Vest' protests starting in 2018 were in part sparked by allegations President Emmanuel Macron's 'green tax' on fuel was unfair for the masses. 'Cost too high' Hanoi authorities say they are considering alleviating the financial burden by offering subsidies of at least three million dong per switch to an e-bike, and also increasing public bus services. Hanoi authorities say they are considering alleviating the financial burden by offering subsidies of at least three million dong per switch to an e-bike, and also increasing public bus services. — AFP pic Food delivery driver Tran Van Tan, who rides his bike 40 kilometres (25 miles) every day from neighbouring Hung Yen province to downtown Hanoi, says he makes his living 'on the road'. 'The cost of changing to an e-bike is simply too high,' said the 45-year-old, employed through the delivery app Grab. 'Those with a low income like us just cannot suddenly replace our bikes.' Compared with a traditional two-wheeler, he also fears the battery life of e-bikes 'won't meet the needs for long-distance travel'. But citing air pollution as a major threat to human health, the environment and quality of life, deputy mayor Duong Duc Tuan earlier this week said 'drastic measures are needed'. In a recent report, Hanoi's environment and agriculture ministry said over half of the poisonous smog that blankets the city for much of the year comes from petrol and diesel vehicles. The World Bank puts the figure at 30 per cent, with factories and waste incineration also major culprits. Several European cities, such as Barcelona, Paris and Amsterdam have also limited the use of internal combustion engines on their streets — and other major Vietnamese cities are looking to follow suit. The southern business hub Ho Chi Minh City aims to gradually transition delivery and service motorbikes to electric over the next few years. But with the high costs, office worker Nguyen My Hoa thinks the capital's ban will not be enforceable. 'Authorities will not be able to stop the huge amount of gasoline bikes from entering the inner districts,' 42-year-old Hoa said. 'It simply does not work.' — AFP
