Latest news with #greeninvestment
The Independent
4 days ago
- Business
- The Independent
I want the Greens to be a populist party – here's how we can do it
It's an exciting time to be in the Green Party. We've gained seats in eight successive elections, have four brilliant MPs in parliament, and we're polling in double digits. Since I joined eight years ago, the change has been huge – and built entirely on the hard work of our members. It's been an impressive decade, but the next decade needs to be explosive. That's why I'm running for the party leadership, on a platform of 'eco-populism'. I want to take the eco message beyond the grassroots and to the masses. You don't have to be a political scientist to see why this moment requires a bold Green Party. The climate crisis is affecting all our lives and biting into our livelihoods, but we have a government that has been disappointingly quick to break its promises on climate action, even when green investment is the clearest route to raising living standards and improving quality of life for millions of people up and down the country. First came the binning of the £28bn green investment – then support for major airport expansion, followed by backpedalling on clean car standards. Prime minister Keir Starmer has gone from shouting about a Green New Deal to jettisoning climate justice. The sad truth is that Labour is obsessed with the electoral threat from Nigel Farage's Reform UK, and its supposed green credentials are the first thing to go to the wall. This week, the prime minister made time to give a speech about how Farage, if he were ever put in charge, would crash the economy like Liz Truss. I don't doubt it – but politics shouldn't bend to the will of the hard right. More voters than ever are keen to vote Green. But I believe we need to communicate our clear policy platform in a way that better speaks to people's everyday needs. Under my leadership, we will stand with those at the sharpest end of the country's economic failures – and we will show them how a climate-proofed economy will mean warmer homes, cheaper bills, decent jobs and greater security for all of us. The current administration is missing basic opportunities to do green things. They're part-nationalising the railways… but have forgotten the most important part: improving the trains. Meanwhile, Robert Jenrick this week filmed himself stopping fare-dodgers on the London Underground – which is all well and good if that was his job. But, as a former minister, he had both the time and the power to create systemic change – and failed to enact change. Even now, in his role as shadow secretary of state, instead of pushing the government to reduce the burden on some people living in poverty, which is a much more effective preventive measure against crime, he is acting as some sort of vigilante for the sake of social media. It's not radical to say that corporations shouldn't profit from the water coming out of taps, or that extreme wealth ought to be taxed fairly – it's just that no one is willing to say it. Some might say such things are far cry from what the Green Party has been most known for. But there's no environmental justice without racial, social and economic justice, too. And the same corporations that are discharging sewage into our rivers are destroying our communities and, ultimately, will do the same for our democracy, too. In the coming weeks, I'm going to make it my mission to tell one simple story – one which says it doesn't have to be like this. We can do things differently. The UK can have clean air, lower bills, job security and public services that we all can rely on. This is what I mean by 'eco-populism'. At the very heart of our environmental mission are bread and butter issues that affect all of us. And making climate action relevant to people's material, every day concerns. Under my leadership, we will have a Green Party that can demonstrate that a better country and a better world is within our grasp – one that can build the mass movement needed to demand it.
Mail & Guardian
5 days ago
- Business
- Mail & Guardian
African Development Bank at 60: Time to reclaim the zeal of its visionary reformers
The African Development Bank's shareholders must decide whether the mandate will expand to crowd in private finance, derisk green investment and underwriter regional public goods, or retreat to classical project lending. At its 60th anniversary, the African Development Bank (AfDB) stands on foundations laid by every one of its past presidents. But history shows that three stewards in particular guided the institution through decisive turningpoints: Babacar Ndiaye, Omar Kabbaj and Donald Kaberuka. Their combined reforms offer a blueprint for the next generation. With today's crisis mounting, from shrinking aid to rising debt, that spirit of decisive reinvention must return. The leadership contest we are witnessing now happens as the continent once again faces tightening liquidity, dwindling concessional resources and escalating debt service costs. These pressures mirror earlier shocks: the post Cold War aid squeeze of the early 1990s, the commodity price slump of 1998-2002 and the global financial crisis of 2008-09. Each episode forced Africa's premier development institution to redefine its mandate, strengthen its balance sheet and, crucially, protect its credit standing. Those lessons remain highly relevant as the bank prepares for its next resource mobilisation and as African policymakers debate how the institution can best serve a $3 trillion continental economy that still falls short on infrastructure, climate resilience and industrial diversification. The late Babacar Ndiaye (president, 1985-95) led the bank through one of its most consequential transformations. A consummate Senegalese technocrat and diplomat, Ndiaye secured the 1987 General Capital Increase that tripled ordinary resources to $23.3 billion and brought newly admitted nonregional shareholders behind a common agenda. He went on to champion panAfrican institutions that outlived his mandate, Afreximbank, Shelter Afrique and Africa Re, enlarging the bank's footprint in trade finance, housing and risk transfer. His ability to persuade Eritrea and Ethiopia, Namibia and South Africa to subscribe simultaneously attested to his diplomatic reach. Taking office amid that loss of investor confidence, Moroccan economist Omar Kabbaj embarked on a comprehensive modernisation. He restored the bank's AAA rating, reestablished the stalled African Development Fund (ADF) replenishment cycle and rebuilt capital adequacy. Internally, he introduced rigorous financial controls, procurement guidelines and a competitive remuneration policy that attracted and retained talent. Kabbaj also created the Administrative Tribunal, giving staff formal recourse for employment disputes. Those governance upgrades were not an implicit criticism of Ndiaye; rather, they extended his commitment to durable institutions. By the end of Kabbaj's decade, the bank's balance sheet was stronger, its internal processes codified and its borrowing costs once again the envy of peer multilaterals. Donald Kaberuka, who had already overseen Rwanda's postgenocide recovery, confronted the global financial crisis with equal determination. In 2009 he launched a $1.5 billion Emergency Liquidity Facility, led the temporary relocation to Tunis and orchestrated the bank's orderly return to Abidjan in 2014, while preserving the AAA status earned under Kabbaj. Kaberuka's hallmark, however, was institutional robustness. He strengthened the Independent Evaluation Department, introduced a formal sanctions regime and, for the first time, created an Investigation & Anti-corruption Office. Recognising the infrastructure gap that curbed Africa's growth, he also catalysed Africa 50, a project development and financing platform that today mobilises nonsovereign capital alongside the bank's own resources. The achievements of Ndiaye, Kabbaj and Kaberuka illustrate an evolving but consistent mandate: to finance transformative, continentwide development while safeguarding the bank's financial integrity. Yet Africa's needs have outpaced traditional concessional windows. The climate transition alone could require $250 billion annually by 2030; the digitalisation agenda and the AfCFTA will demand billions more in risk capital and knowledge services. The bank's shareholders, African and non-African alike, must therefore decide whether the mandate will expand to crowd in private finance, derisk green investment and underwriter regional public goods, or whether it will retreat to classical project lending. Reasoning with them on the basis of facts, Africa can argue that without a financially solid, policy innovative AfDB, neither ambition is attainable. A strong capital base, disciplined governance and AAA status are preconditions for leveraging external markets at scale. But the adversity ahead is more intense than any the bank has faced. A planet that is warming faster than anticipated is fuelling droughts in the Sahel, cyclones on the Mozambican coast and devastating floods from Libya to KwaZulu‑Natal; harvest failures and disrupted supply chains are driving a surge in food insecurity across more than 20 African countries. Global financial volatility, higher interest rates and fractured trade corridors are squeezing the very sovereign borrowers the AfDB exists to serve and, by extension, testing the bank's own funding model. Honouring the transformational legacy of past reformers, therefore, is not mere nostalgia; it is the essential starting point for equipping the institution to withstand the next wave of systemic shocks. It requires political acumen, financial discipline and the courage to act at moments of uncertainty. It requires belief in African institutions as engines of transformation, not just conduits for aid. The road ahead for Africa is not easy, but it is not uncharted. An AfDB with that agility is the bank we want to see going forward, and we are confident it is the type of institution our shareholders and development partners will be proud to champion. Obi Ezekwesili is a former minister and former vice-president for Africa at the World Bank. Kalidou Gadio, of DLA Piper, is a former legal counsel of the AfDB. Agnes Kalibata is the former president of AGRA.
Zawya
6 days ago
- Business
- Zawya
New Energy Investor Summit Middle East 2025 unites global leaders to accelerate green investments
This landmark event aims to bridge the gap between capital and renewable energy projects, spotlighting the UAE's pivotal role in the global energy transition and positioning Abu Dhabi as the Capital of Green Capital. Abu Dhabi, The New Energy Investor Summit Middle East 2025 convened at ADGM bringing together global policymakers, project developers, investors, and sustainability pioneers to catalyse investment in green energy and decarbonisation initiatives across the Middle East and beyond. This landmark event aims to bridge the gap between capital and concrete climate action, spotlighting the UAE's pivotal role in the global energy transition. The summit provided a platform for stakeholders to engage in high-level discussions, fostering partnerships and exploring investment opportunities in renewable energy, hydrogen, and sustainable infrastructure. The event attracted regional and global leaders in climate finance and energy transition at ADGM, positioning Abu Dhabi as the Capital of Green Capital. The summit, themed 'Bridging the Gap Between Capital and Projects', opened with a keynoteaddress by Her Highness Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, President & CEO of the UAE Independent Climate Change Accelerators (UICCA). During the inaugural keynote, Her Highness stated: 'A substantial gap exists between the amount of finance needed to achieve our ambitious net zero goals, and where we stand today. Platforms like the New Energy Investor Summit are vital to unlocking capital, driving innovation, and strengthening collaboration. Similarly, initiatives like the UICCA's UAE Carbon Alliance, Policy Hack series, and its Launchpad programme, are all part of a broader effort to build a robust, inclusive climate ecosystem. By aligning public and private efforts, we can accelerate investment in clean technologies and advance carbon markets to support climate action – while growing the green economy.' Session 1: High-Level Dialogue on Global Policy, Regulation and Investment The first session explored national and regional frameworks that support decarbonisation and investment. The topics included the alignment of energy policies with international climate agreements and regulatory incentives to accelerate renewable energy adoption. Participants examined the role of financial regulators, as well as how national infrastructure planning can align with long-term decarbonization goals and efforts towards energy transition. Keynotes were delivered by H.E. Hamad Sayah Al Mazrouei, CEO of ADGM Registration Authority, and Horst H. Mahmoudi, Executive Chairman of Smartenergy, with expert insights from Dipak Sakaria (UAE Ministry of Energy & Infrastructure), Petra Schwager (UNIDO), Cornelius Matthes (Dii Desert Energy), Wael Almazeedi (Avance), and Hector Perea (XRG). H.E. Hamad Sayah Al Mazrouei, CEO of ADGM Registration Authority, said: 'The New Energy Investor Summit reinforces ADGM's position as a global leader in climate innovation and further solidifies Abu Dhabi's role as the home of Green Capital. As the world faces an urgent demand for climate action, we find ourselves at a pivotal moment where the need to connect investment with innovation, has never been more critical. Today, we are building the bridges that will link capital with climate solutions, align ambition with tangible action, and unite policymakers, investors, and innovators'. Horst H. Mahmoudi, Executive Chairman of Smartenergy, said: 'Our venture into the UAE is a strategic decision to place Smartenergy at the nexus of the world's emerging new energy hubs. Under its visionary leadership, the UAE is spearheading the worldwide push towards clean and renewable energy. We are committed to supporting these initiatives by catalysing green molecule markets. The New Energy Investor Summit is helping us to create a bridge between continents to capitalise on the emerging opportunities offered by the current renewable energy market.' Session 2: Transcontinental Synergies MEA-Europe This session explored strategic cooperation between the Middle East & Africa (MEA) and Europe in building integrated green value chains and achieving shared climate targets. Topics include transcontinental hydrogen corridors, harmonizing certification standards for green molecules, and the role of intergovernmental agreements in unlocking cross-border trade and investment. Speakers addressed joint R&D initiatives, infrastructure co-development, and the importance of political and international alignment to create predictable, long-term frameworks for decarbonization. Keynotes were presented by H.E. Lucie Berger, EU Ambassador to the UAE; H.E. Arthur Mattli, Swiss Ambassador to the UAE and Bahrain; and Jorgo Chatzimarkakis, CEO of Hydrogen Europe. Panelists included Capt. Saif Al Mheiri (AD Ports Group), David Smith (Marubeni), and Dimitrios Dimitriou (EMSTEEL Group), Siddharth Malik, CEO (Jindal Renewables) and Anas Aljuaidi, (Mannesmann Energy) who discussed cross-border collaboration and investment in clean hydrogen, infrastructure, and climate technology. Session 3: Supply and Demand – Scaling up Green Molecule Production The third session addressed the industrial-scale production of green molecules such as hydrogen, ammonia, methanol and sustainable aviation fuel (eSAF). As green hydrogen emerges as a pivotal solution in the global race to decarbonize, and given the increased demand for energy, this session explored the financial, technological, and geopolitical dimensions of scaling up hydrogen ecosystems. Keynotes were presented by Andreas Michael Feil, First Secretary, German Embassy UAE, Dr. Alejandro Rios Galvan (SAF Consultant), Andrès Isaza (Smartenergy). The panel featured Dr. Sami Kamel (Dutco Cleantech), Raghu Viswanathan (Smartenergy), Alexandros Kosmas, (Airbus), Pedro Amaral Jorge, (APREN) and Alexis Rostand (Eiffel Investment Group). Session 4: Bridging the Gap – Financing Mega-scale Green Molecule Projects This session delved into the critical financial frameworks and instruments needed to bring mega-scale hydrogen and green molecule projects from vision to reality. Speakers addressed the bankability of large-scale infrastructure investments, evolving risk-sharing mechanisms, and innovative financing models including blended finance, sovereign guarantees, and green bonds. The discussion highlighted how multilateral institutions, export credit agencies, and private capital can align to unlock billions in green infrastructure. With global demand for low-carbon fuels accelerating, the session explored how transparent regulatory environments and long-term offtake agreements can de-risk investments and catalyze global capital flows into the MENA region. A keynote was presented by Nabil Ayoun, Industrial Transition Accelerator (ITA). The panel featured Mohamed Hesham, (2PointZero), Gido Van Graas, (FAB), Maheur Mourali (the Arab Energy Fund), Karim Mourad, (ADIA) and Sami Neffati (Investcorp). A Platform for Action The summit underscored the UAE's leadership in advancing sustainable finance and innovation. It provided a vital forum for aligning policy, capital, and technology to accelerate the region's energy transition. With participation from global investors, government officials, and climate experts, the event fostered actionable dialogue on green project development, financing mechanisms, regulatory frameworks, and public-private partnerships. Panel discussions explored investment opportunities in green hydrogen, cross-border collaboration between the Middle East and Europe, and the role of private investment, technological progress and public-private partnerships in accelerating the energy transition. About the New Energy Investor Summit Middle East Organized by leading industry bodies and supported by regional authorities, the summit serves as a catalyst for sustainable investment in the Middle East. By bringing together key players in the energy sector, the event aims to facilitate the deployment of clean technologies and promote economic diversification and energy transition, aligned with environmental goals. Hosted by ADGM and Smartenergy, the New Energy Investor Summit Middle East serves as a premier platform for connecting capital with climate-positive projects. It aims to mobilise investment in renewable energy, clean technology, and decarbonisation strategies, supporting the UAE's vision for a sustainable, net-zero economy. The New Energy Investor Summit Middle East will be held annually. Next year's edition is scheduled for 15 April 2026. Smartenergy Founded in 2011 and located in Wollerau, Switzerland, Smartenergy focuses on investments in renewable energy and related ventures. We identify, develop and deliver green energy assets. We are a driving force in the ongoing transition of industry towards green energy, focused on the deployment of solar, wind, green hydrogen and Power-to-Liquid projects. We are committed to the potential of hydrogen and its derivatives such as eSAF for decarbonization where electrification is not possible. Beyond our headquarters team in Wollerau, we rely on our own local subsidiaries in all our focus markets. Local knowledge and proximity to industry stakeholders allow us to identify and secure opportunities at an early stage.
Zawya
7 days ago
- Business
- Zawya
Oman: Private sector must absorb premiums to accelerate energy transition
MUSCAT: The global energy transition will not succeed without private-sector willingness to absorb cost premiums, build scalable models and push investment despite current regulatory uncertainties, according to Salih Merghani, Executive Vice President for Energy at Olayan Saudi Holding Company. Speaking at the Oman Petroleum & Energy Show (OPES) held in Muscat recently, Merghani said that unlike previous shifts in industrial history, today's energy transition demands that companies move away from 'dense, cheap and reliable' fossil fuels to energy sources that are intermittent, complex and often more expensive. 'This is unlike anything we've attempted before. We're transitioning not because the alternatives are more efficient, but because of an environmental imperative. That makes the economics more challenging — and more urgent,' he said. Merghani noted that although Saudi Arabia and the region offer competitively priced energy, the lack of a comprehensive regulatory framework for decarbonisation is slowing momentum. As a result, private investors must take the lead in developing new mechanisms for green investment. 'In our case, we asked ourselves: why move now? The answer was scalability. The scale exists, the market is forming and our capital has to find a home where it contributes to the long-term shift,' he said. He cited examples of private investment by Olayan into carbon capture and storage (CCS) technologies and industrial retrofits aimed at reducing emissions in sectors like steel, cement and heavy industry. 'We looked at steel production, for example. Instead of building a new 'green steel' facility from scratch, we worked on retrofitting existing operations to lower their emissions profile significantly,' he explained. However, he stressed that many low-carbon technologies will not scale without 'offtake guarantees' and financial structures that share the risk across the value chain. 'We realised that if we wanted to accelerate deployment, someone had to accept the premium — whether in the form of higher offtake prices, long-term contracts, or industrial policy support,' he said. Merghani also highlighted the role of voluntary carbon markets (VCMs), noting that investments under Saudi Arabia's VCM initiative have focused on creating credible carbon credits and building awareness within the private sector. 'We don't yet have taxes or binding emissions caps, but the idea is to integrate carbon into business decision-making through the market. The VCM gives us a way to do that,' he said. On technology maturity, he pointed out that while solar energy has now reached global scale, other solutions — particularly CCS and sustainable aviation fuels (SAF) — still face barriers. 'We've made strong progress in solar, but CCS and SAF require different economic models. For SAF, the aviation sector may be the last to transition and retrofits must become financially viable at today's cost structures,' he said. Merghani called for greater collaboration between industrial players, regulators and financiers to unlock the full potential of emerging technologies. 'Financing institutions must be part of the solution. We can't build a project pipeline if the banks and regulators aren't aligned with the pace of transition,' he noted. He concluded by stressing that while the private sector is ready to lead, market signals and policy coordination must follow if the region is to move from pilot projects to full-scale decarbonisation. 'The technology is here, the investment appetite is real — but if we want this to happen fast, it has to be a shared effort. This transition won't happen under normal conditions. We need to rewire the whole ecosystem,' he said.
Zawya
26-05-2025
- Business
- Zawya
EU eyes Oman for green energy and water investment push
MUSCAT: At the EU-Oman Energy & Water Collaboration Forum held in Muscat on May 20–21, 2025, senior European and Omani stakeholders highlighted Oman's growing appeal as a hub for green investment, particularly in the energy and water sectors. The forum, held at the Crowne Plaza OCEC and sponsored by Nama Group and the EU-GCC Cooperation on Green Transition Project, drew attention to the Sultanate of Oman's strategic readiness for climate-aligned infrastructure partnerships. During a high-level session titled 'Attracting EU Investors to Oman's Growing Green Economy,' speakers detailed how Oman's geographic location, renewable resource wealth and regulatory initiatives are aligning with European Union sustainability objectives to create a fertile investment landscape. Andre Vreman, Chairman of Climate Neutral Real Estate, pointed to Oman's stable governance, abundant solar and wind potential; and proactive climate policy as decisive advantages. 'Oman's combination of stable governance, immense solar and wind resources; and progressive green policy creates a uniquely bankable environment for EU investors,' he said, adding that financial tools such as green bonds and sustainability-linked loans could significantly enhance investor participation. Echoing this sentiment, Jorge Malleu, General Manager of 4Fores Engineering, emphasised the convergence between Oman Vision 2040 and EU climate targets. He cited growing interest from European engineering and finance firms in public-private partnerships and project-financed models. 'There's clear alignment between EU sustainability targets and Oman Vision 2040,' he noted. 'But unlocking serious capital requires regulatory clarity and off-take agreements that reduce uncertainty for investors.' The forum also highlighted Oman's progress in green hydrogen development. Rumaitha al Busaidi, Business & ICV Development Manager at Hydrom, showcased how the government-backed entity is de-risking the hydrogen value chain through structured auctions, construction milestones and partnerships aimed at manufacturing electrolysers and localising supply chains. 'Our model integrates risk-sharing, local content and global cooperation to build a resilient hydrogen economy,' she said. On the utilities side, Dr Ahmed Zayed Khalifah al Shaqsi, General Manager of Strategy, ESG & Performance at Nama Electricity Distribution, discussed the company's efforts to incorporate ESG principles across operations. Initiatives include reducing grid losses, increasing energy efficiency and piloting community-based renewable energy projects. 'We are embedding ESG in every layer of our operations and will soon publish our first ESG disclosure report,' Dr Al Shaqsi revealed. Moderated by sustainability specialist Said al Kamyani, the session closed with a clear message: Oman is rapidly positioning itself as a regional leader in green infrastructure, attracting serious interest from European investors across renewable energy, hydrogen and sustainable utilities. Speakers called for deeper EU-Oman collaboration, stronger policy frameworks and clearer mechanisms for de-risking investment through off-take agreements and regulatory consistency. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
