Business, Philanthropy Sectors Activate Contributions at COP 28 for Climate Solutions

 The COP 28 conference has kicked off in Dubai, with discussions scheduled to take place over the course of two weeks (AFP)
The COP 28 conference has kicked off in Dubai, with discussions scheduled to take place over the course of two weeks (AFP)
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Business, Philanthropy Sectors Activate Contributions at COP 28 for Climate Solutions

 The COP 28 conference has kicked off in Dubai, with discussions scheduled to take place over the course of two weeks (AFP)
The COP 28 conference has kicked off in Dubai, with discussions scheduled to take place over the course of two weeks (AFP)

The Business and Philanthropy Climate Forum at COP28, focuses on implementing tangible solutions to global climate and nature challenges.

This year’s COP 28 conference will see more than 1300 CEOs of organizations and leaders from charitable enterprises representing over 100 countries.

The Forum seeks to address key priorities outlined in the COP 28 agenda, such as energy transition, climate finance, nature conservation, and inclusivity.

Its objectives encompass safeguarding Earth’s natural heritage and biodiversity, funding adaptation plans, and fostering more sustainable agricultural systems and practices.

The Forum serves as a platform for practical and actionable solutions, bringing together diverse stakeholders to tackle pressing issues on a global scale.

COP28 Special Representative for Business and Philanthropy and Chair of the Forum Badr Jafar stated that the gathering marks a pivotal breakthrough in global climate discourse.

According to Jafar, the Forum will bring together a significant number of business leaders and philanthropic innovators to convey a powerful message about the importance of collaboration and comprehensive action for all.

Speaking to Asharq Al-Awsat on the sidelines of COP 28, Jafar said: “Dr. Sultan Al-Jaber, the President of COP 28, calls for what he terms effective change in the working approach that energizes the private sector and its resources with a passion for climate issues.”

“This Forum provides vital sectors with a platform to contribute effectively to shaping global climate policies,” added Jafar.

“The vision of the COP 28 President is committed to adopting a working methodology that supports energy transition, improves climate finance, and focuses on solutions mindful of human and environmental needs, ensuring that all initiatives are inclusive,” he explained.

Emphasizing that the Forum will be a dynamic interactive platform, Jafar highlighted that it will provide participating delegations with an unprecedented opportunity to pledge new responsibilities and goals, outlining a clear path for the next steps and required actions.

“The primary objective of the Forum is to enable the private sector to take practical steps that move them from the realm of theoretical agreements and commitments to the practical world of implementation and tangible results,” said Jafar.

Jafar explained that $3 trillion is the total global investment required annually to achieve the net-zero emissions goal by 2050.

Developing countries need investments totaling $2.4 trillion each year until 2030 to meet the Paris Agreement targets and address issues like biodiversity loss, land degradation, and soil deterioration.

“We will need radical natural solutions costing $8 trillion from now until 2050,” Jafar told Asharq Al-Awsat.

“These amounts are undoubtedly enormous, reflecting the magnitude of the risks at stake. The stark reality increasingly evident to us is the impossibility of mobilizing these trillions, or even coming close to doing so, without the ingenious involvement of the private sector with its innovative capabilities, resources, and expertise,” he explained.

As per Jafar, the challenge lies in the absence of a global framework that organizes collaboration among all capital sources swiftly and on an extremely broad scale.



Saudi's flynas Strikes Deal for Additional Airbus A320neos, 15 A330s

Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)
Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)
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Saudi's flynas Strikes Deal for Additional Airbus A320neos, 15 A330s

Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)
Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)

flynas, Saudi Arabia’s leading low-cost carrier, has signed a Memorandum of Understanding (MoU) with Airbus for 75 A320neo family aircraft and 15 A330-900. This strategic agreement will expand the airline's capacity, range and enhance its overall fleet capabilities.
Signed during Farnborough International Airshow in the presence of President of the General Authority of Civil Aviation (GACA) of Saudi Arabia, Abdulaziz bin Abdullah Al-Duailej, Chairman of the Board of NAS Holding Ayed Al Jeaid, flynas Chief Executive Officer & Managing Director Bandar Almohanna, and Airbus Chief Executive Officer, Commercial Aircraft, Christian Scherer, Airbus said on its website.
The new aircraft will join the carrier’s all Airbus fleet serving international, domestic and regional routes. The new A330-900 aircraft will boast a two-class configuration, accommodating up to 400 passengers.
"We are excited to further strengthen our long-standing partnership with Airbus," said Bander Almohanna, CEO and Managing Director of flynas. "The A320neo Family provides exceptional operational performance and environmental benefits, allowing us to offer unique, low-cost travel experiences. Additionally, the A330neowill enhance our long-haul capabilities with its advanced technology and efficiency while supporting our growth plans and Saudi Arabia’s pilgrim program."
Airbus Chief Executive Officer, Commercial Aircraft, Christian Scherer said, "We are delighted to expand our partnership with flynas through this significant milestone for both A320neo and A330-900 aircraft. The A330neo will allow flynas to further grow into widebody markets by building on the A320, benefiting from Airbus’ unique commonality. Both aircraft types offer flynas the perfect versatility and economics to expand into new markets while offering their passengers the latest cabin experience and comfort. We look forward to continuing our successful collaboration with flynas as they embark on this exciting new chapter."
The addition of the A330-900 aircraft will support flynas' ambitious growth plans. The airline anticipates significant operational efficiency gains by combining the new widebody aircraft with its existing A320neo fleet. The A330-900 offers increased capacity and range at unrivaled seat costs, ensuring flynas can compete effectively in the growing regional market, a key focus area for the airline.
The A330neo delivers unbeatable operating economics, powered by the latest-generation Rolls-Royce Trent 7000 engines, featuring new wings and a range of aerodynamic innovations resulting in a 25 percent reduction in fuel consumption and CO₂ emissions compared to previous generation competitor aircraft. The A330neo is capable of flying 8,150 nm / 15,094 km non-stop, providing ultimate comfort with more passenger space, a new lighting system, latest in-flight entertainment systems and full connectivity throughout the cabin.
As with all Airbus aircraft, the A330 family is already able to operate with up to 50% Sustainable Aviation Fuel (SAF). The manufacturer is targeting to have its aircraft up to 100% SAF capable by 2030.