| The World Economic Forum will advance multistakeholder initiatives for enhanced climate solutions at the 28th Conference of the Parties of the UNFCCC. The Forum will focus on key priority action areas including industry decarbonization and net zero, energy transition, food, nature and innovative finance.COP28 takes place from 30 November to 12 December 2023 in Dubai, United Arab Emirates, and serves as an urgent call to action to the global climate crisis.Learn more about the Forum’s work at COP28 here. Geneva, Switzerland, November 2023 – The World Economic Forum will convene heads of state, ministers, business leaders, philanthropy and civil society to advance climate action at the 28th Conference of the Parties of the UNFCCC (COP28) at the Expo City Dubai, in Dubai, United Arab Emirates. The Forum’s focus at COP28 is to address priority action areas including industry decarbonization and net zero, energy transition, food, nature and innovative finance. “We have to take a holistic approach to address the environment crisis, with people at the heart of the agenda, focusing on restoring and protecting nature ecosystems, strengthening community resilience in the face of water stresses and extreme temperatures, while stopping the pollution of our land, sea and water,” said Gim Huay Neo, Managing Director, World Economic Forum. “Fostering a sense of inter-dependence, mutual trust and support as well as active collaboration between governments, the private sector, philanthropy, civil society and communities is needed to build a more harmonious relationship among communities and with the planet. COP28 is an opportunity for the World Economic Forum to provide a platform for multistakeholders to take stock on progress, enhance partnership efforts and explore new ideas and solutions together to safeguard our global commons.” The discussions in Dubai will build on outcomes from the Forum’s Sustainable Development Impact Meetings 2023, which reflected on progress made on the Sustainable Development Goals (SDGs) and created momentum in addressing the climate and nature crises and advancing an inclusive energy transition. As part of the COP28 programme, the Forum will hold several sessions aligned to the meeting’s thematic areas. Most of the sessions will take place at the COP28 Blue Zone, which is accessible to UNFCCC-accredited media. Insights and initiatives The following Forum announcements and publications will be released at COP28. 22 Nov.: Net Zero Industry Tracker 202322 Nov.: Financing Energy Transition Projects with Industrial Clusters in Europe26 Nov.: Biodiversity Credits: Demand Analysis and Market Outlook27 Nov.: Biodiversity Credits: A Guide to Support Effective Use29 Nov.: Launch of Scope 3 Action Plan from the Alliance of CEO Climate Leaders29 Nov.: Navigating Article 6: Opportunities for the Middle East and North Africa30 Nov.: Grassroots to Boardrooms:Social Innovation Partnerships for Climate Adaptation30 Nov.: Catalysing Climate Action in Asia: Unlocking the Power of Philanthropic-Private-Public Partnerships30 Nov.: Policy Action to Mobilize Climate Finance and Market Responses 1 Dec.: Taking Stock of Global Business Efforts on Adaptation4 Dec.: Joint Communiqué: CEOs from the Leaders for a Sustainable MENA Sign Joint Letter to Pledging Net Zero by 2050 and to Reduce 200MT CO2 Emissions by 20304 Dec.: Roadmap for Enabling Measures for Green Hydrogen in the MENA Region4 Dec.: Fuelling the Future of Shipping: Key Barriers to Scaling Zero-Emission Fuel Supply5 Dec.: Circularity in the Built Environment: Maximizing CO2 Abatement and Business Opportunities5 Dec.: Using a People-positive Approach to Accelerate the Scale-up of Clean Power: A C-Suite Guide for Community Engagement Find more about World Economic Forum insight publications here. |
| The World Economic Forum, committed to improving the state of the world, is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business and other leaders of society to shape global, regional and industry agendas. (www.weforum.org). |
Tag Archives: United Arab Emirates
Royal Gulf Industries To Fund UAE’s First EV Battery Recycling Centre
Will invest AED 62.4 million / $16.99 million USD / $21.82 million CAD on constructing UAE’s first used battery recycling centre in Ras Al Khaimah.
Ras Al Khaimah Economic Zone (RAKEZ) welcomed Royal Gulf Industries, a state-of-the-art lead acid battery recycling company, to its dynamic industrial ecosystem. A subsidiary of Hyderabad Castings Limited and part of Nakhat Group, the new company is set to invest AED 62.4 million (USD 17 million) to construct the UAE’s first environment-friendly automotive battery recycling centre on approximately 110,000 ft2 of land at Al Ghail Industrial Zone. Royal Gulf Industries will employ more than 150 people in its facility, which is set to be ready in the fourth quarter of 2022.
The company aims to recycle up to 35,000 metric tonnes of used lead acid batteries annually.
This will produce 21,500 tonnes of lead ingots and 2,400 metric tonnes of plastic granules. Both of these materials will be largely exported to India, Japan, Korea, China and Europe for the manufacturing of new lead acid batteries and cases. This activity accounts for recycling around 58% of the lead acid battery scrap generated in the UAE.
Ramy Jallad, Group CEO of RAKEZ, and Yogesh Nakhat Jain, Managing Director of Royal Gulf Industries, marked the beginning of the recycling unit’s construction during a recent signing ceremony held between the two parties at the RAKEZ Compass Coworking Centre.
“We are very excited to start our journey in the UAE, where we will be fully recycling battery waste in an environment-friendly way. We aim to collect waste batteries not just from the UAE, but also import from around the world to make Ras Al Khaimah a hub for recycling” said Hanuman Mal Nakhat, Chairman of Royal Gulf Industries.
“RAKEZ has supported us every step of the way in turning this massive project into a reality. Our customer experience so far has been excellent as we have received support not just for our company registration, but also for developing our business in the UAE. From liaising with government entities, including Environment Protection and Development Authority, RAK Municipality, Waste Management Authority and Ministry of Industry and Advanced Technology on our behalf to secure the relevant approvals, to hosting us during our visits to Ras Al Khaimah in the past three years of planning the company’s set-up formalities. The team also helped us find the right suppliers and connect with construction companies. We are confident that RAKEZ will continue to play a crucial role in the fulfilment of our vision by offering us all the assistance and support during our business journey,” he added.
Jallad said: “We are glad to be the chosen base for Royal Gulf Industries’ pioneering recycling facility in the UAE. Ras Al Khaimah’s leadership has been striving for environment sustainability. Hence, Royal Gulf Industries, along with other RAKEZ companies in the closed-loop supply chain complement the emirate’s efforts.” He added, “These companies boost the country’s non-oil GDP and advance the national sustainability agenda. We are committed to support their goal of making an impact in the planet through our nurturing and collaborative industrial ecosystem.”
In its second phase spanning three years, Royal Gulf Industries plans to invest about AED 125 million / $34.03 million USD / $43.71 million CAD and create 350 jobs in Ras Al Khaimah. The company also aims to make the UAE a hub for recycling metals, creating global supply chains.
Vacate The Seatback SKY2BUY Is The New ‘Mall in the Sky’
After a difficult bankruptcy auction process, the purchase of SkyMall’s brand name was announced last Friday, March 27th. The new owners paid $1.9 million for the well-known brand. The purchase price, however, didn’t include any assurances from the airlines that the catalog will be put on their planes. In fact, all prior agreements with the airlines are void. One fact is clear: SkyMall no longer has a monopoly to sell in the skies. Scott Jordan, CEO and Founder of multi-pocket clothing company, SCOTTeVEST, has been both a supporter of getting SkyMall back onto planes and a critic of the mismanagement that landed SkyMall into bankruptcy in the first place. Jordan was the most vocal during the auction process and many assumed he would be the winning bidder for SkyMall.
He explains why he let the SkyMall name go to another party: “At the most basic level, there are two things required to make SkyMall work: a catalog and placement of that catalog on airplanes. Producing a catalog is easy. The only way to get a catalog onto airplanes is with the cooperation of the airlines. SkyMall allowed every airline contract to lapse and, despite my best efforts, we were unable to come to terms with the airlines before the bankruptcy auction,” Jordan explains. “By losing the agreements with the airlines, SkyMall’s previous management team lost their monopoly on in-flight shopping. Since I didn’t like their business model, I chose not to submit a bid. I didn’t believe that the name alone was worth it.”
About six weeks ago when SkyMall declared bankruptcy, Jordan was quick to jump to the forefront of the public discussion with a series of widely read articles on LinkedIn and many press mentions, including an appearance on CNBC’s Closing Bell. Due diligence quickly uncovered that all of SkyMall’s contracts with airlines – the foundation of the entire business- had lapsed. Jordan insists that the concept of in-flight shopping is still valuable — if and when a brand can get back on airplanes. And, that is exactly what he hopes to do.
Introducing SKY2BUY: Your New Mall in the Sky, Inspired by Duty Free Shops Jordan’s new new venture is SKY2BUY. It will be in planes in test markets in the U.S. in June or July of this year and plans to become the go-to source for in-flight shopping. Jordan’s emphasis is on creating a high-end travel magazine with shopping opportunities instead of a kitsch-filled catalog. Brands that cater to travelers — like Jordan’s own SCOTTeVEST — will be featured. In addition to shopping, SKY2BUY will include editorial content of interest to travelers. Rather than developing a stand-alone publication, Jordan’s SKY2BUY will be a special advertising section in airline magazines that are already onboard every flight. The model is simple: reward travelers with massive discounts (just like a Duty Free Shop) based on shopping while traveling. Fliers already flip through in-flight magazines and SKY2BUY will provide added incentives to reach into the seatback pocket. Cooperating with in-flight magazines is a sound cost-saving measure. Whereas SkyMall paid over $350K annually to each airline just for fuel surcharges, SKY2BUY will be integrated into the print materials already found on board. This efficiency both reduces the amount of print materials on each flight and makes SKY2BUY’s discounting model possible. This is just one example of cost-cutting to be implemented by SKY2BUY intended to pass savings to the consumer and profits to the airlines.
What to Expect from SKY2BUY Shoppers will always be able to make purchases from SKY2BUY, but only travelers are eligible for the discounts. One is considered a SKY2BUY traveler when (s)he is in an airport, on an airplane or has arrived at his or her destination within the past 24 hours. This is verified electronically by geo-tagged locations or by entering a flight confirmation number. A traveler’s boarding pass acts as a ticket to savings. This unique, location-based model rewards travelers who shop during/immediately after travel. SKY2BUY’s discounting concept is similar to a duty-free shop. A shopper can buy the same goods elsewhere, but it is only while traveling that the discounts are available. SkyMall cited the increased use of electronic devices in-flight as a reason for decreased interest in their catalog. SKY2BUY will address this challenge by offering tech-savvy fliers free in-flight apps to encourage immediate purchases, as well as partnerships with in-flight wi-fi providers to provide free wi-fi for purchases made on SKY2BUY. As a former SkyMall advertiser, Jordan’s company SCOTTeVEST was frustrated by the amount of time from when a customer placed an order and when SCOTTeVEST received the order from SkyMall so they could fulfill it. SKY2BUY’s customers will purchase directly from advertisers. By removing the middle-man, advertisers will receive order information in real time, thus enabling them to provide a better customer experience. In some cases, orders will be available upon landing at the shopper’s destination. The elimination of the middle-man will not only make things faster, it will also remove an unnecessary layer of costs. “Realize that you forgot a tie for that big meeting? Turn to SKY2BUY. Left your sunscreen at home? There’s an outdoor excursion kit waiting for you at your destination,” explains Jordan.
The Content SKY2BUY will dial up the entertainment aspect that made SkyMall enjoyable by embracing creative content and making it more than just a catalog. Because all travelers are going from one location to another, there is a shared experience. SKY2BUY plans to build on that experience, offering gadgets and travel aids… not alien butler statues or dragon bookends. Travel should be enjoyable and SKY2BUY’s product selection will be curated to combat in-flight boredom and encourage shopping by providing items that are relevant to travelers. The focus on travel-related items and purchasing directly from advertisers should take care of the low conversion rates that contributed to the demise of SkyMall. Focusing on conversion rates comes naturally to Jordan after years running the highly successful, ecommerce company SCOTTeVEST. He understands the importance of creating content the resonates with customers. A small sampling of planned sections in SKY2BUY’s initial 16-page spreads include:
- Travel gear and Luggage
- Gadgets
- Food and Drink
- Fashion
- Auto-Related Items
Just as most airline magazines are updated monthly, SKY2BUY will be refreshed on the same schedule, ensuring that readers always have something new to peruse – and buy – while in transit.
The App While most customer’s first experience with SKY2BUY will be in print form, SKY2BUY is developing a sophisticated, user-friendly app. It will be available as a free download prior to take-off (without having to pay for wifi). Travelers can then shop while they are in the air. Purchases will automatically sync upon landing, with no need to pay for in-flight wireless.
The Editorial “Content and commerce are inextricably bound together,” explains Jim Louderback, the former editor of PC Magazine who has been tapped to lead SKY2BUY’s content efforts. “Entertaining product curation creates stories as compelling as those on Netflix or in the movie theater. By combining great storytelling with great product curation we’ll be building a cure for boredom AND an experience you’ll want to share over and over again.”
SKY2BUY is Cleared for Take-off Jordan hasn’t revealed which airline magazines will include SKY2BUY, but confirms that he has three major U.S. and multiple international airlines in active conversations. The airlines have been very open to Jordan’s model because of the likelihood of profitability from day one. A June launch is SKY2BUY’s goal, to coincide with the summer travel season. On a parting note, Jordan said, “This summer, fly with SKY2BUY: your new mall in the sky.” Full SKY2BUY details may be found at www.SKY2BUY.com.
Supplemental- United Arab Emirates “Super Jumbo” A380