Browsing: COP 28 in UAE

By agreeing to remove double taxation the countries also agree to remove barriers to bilateral investment and trade between one other. It is just as well because trade and investment between the two are growing.

Only recently the UAE renewable energy firm Masdar went into a deal with Tanzania to conduct several solar and wind power projects in the country.  Similarly, the Emirates also signed several trade financing agreements with a few countries in West Africa as the UAE makes its mark in global economic growth.

Qatar is only the latest of the United Arab Emirates that Tanzania is making trade and investment deals with. In February this year, Tanzania participated at the World Expo Dubai 2020 to promote its products and opportunities.…

• In 2020, the capital investment in the renewable energy sector was at US$8.72 billion, outshining oil and gas for the first time
•  Despite the damage caused to the climate, gas and oil are at the core of the energy sector, which is concerning
• The United Arab Emirates (UAE) topped in the Middle East, attracting foreign direct investment (FDI) in renewable energy close to US$2.4 billion in 2020

One of the conclusions of the 26th United Nations Climate Change Conference, which was held in Glasgow, Scotland, is that the climate change effect caused by fossil fuels on the earth might be irreversible by 2030.

The COP 26 conference emphasized the cutting down subsidies granted for coal and fossil fuels to low- and middle-income countries. However, there is no amicable consensus arrived on the above emphasis.

It appears that global financial firms are reluctant to curtail the direct and indirect financing of …