Climate Week Sees Affirmation of Arab Region’s Ability to Lead the Field of Renewable Energy

Dr. Abdullah Al-Dardari attends a dialogue session during the Climate Week in Riyadh. (Asharq Al-Awsat)
Dr. Abdullah Al-Dardari attends a dialogue session during the Climate Week in Riyadh. (Asharq Al-Awsat)
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Climate Week Sees Affirmation of Arab Region’s Ability to Lead the Field of Renewable Energy

Dr. Abdullah Al-Dardari attends a dialogue session during the Climate Week in Riyadh. (Asharq Al-Awsat)
Dr. Abdullah Al-Dardari attends a dialogue session during the Climate Week in Riyadh. (Asharq Al-Awsat)

The Regional Director of the United Nations Development Program, Dr. Abdullah Al-Dardari, said that the potential possessed by the Arab region qualifies it to lead the transition towards clean and renewable energy, praising Saudi Arabia’s circular economy approach and its efforts to reduce pollution and preserve the environment.

In an interview with Asharq Al-Awsat on the sidelines of the Middle East and North Africa Climate Week (MENACW) 2023 in Riyadh, Al-Dardari noted that the field of renewable energy constituted a great opportunity to diversify sources of income, noting that the Arab region faces many difficult environmental conditions, including water scarcity, food security threats, and environmental and climate crises.

The UN official emphasized the presence of a historic opportunity for the region to be an international leader in sustainable economy, as the cost of producing renewable energy has become relatively cheap and competitive compared to traditional energy sources, while the region also possesses financial resources, minds, and a political desire to drive the transition towards clean energy.

Emphasis must be placed on improving the efficiency of traditional energy use, in addition to enhancing the reliance on renewable energy, Al-Dardari said, noting that this includes reducing pollution and emissions and increasing economic and environmental efficiency.

He also pointed out the importance of investing in knowledge, research, development and production to achieve these goals.

Al-Dardari stressed that the region must adapt to current climate changes, and suggested developing genetically modified agricultural products to enable their cultivation in difficult conditions, such as high temperatures, water shortages, and drought.

He also underlined the necessity of working to reduce the waste of resources, saying that studies have shown that a third of the region’s resources are squandered.

“This constitutes an environmental and economic challenge that must be addressed,” he told Asharq Al-Awsat.

The United Nations Development Program works to protect the environment and promote sustainable development in the Arab countries on an ongoing basis, through initiatives aimed at enhancing food security, providing various environmental solutions, and training cadres on best practices that help in completing environmental projects.



China Metals Tumble on Recession Fears Amid Escalating Trade War 

A woman looks at her phone in the financial district of Shanghai on April 7, 2025. (AFP)
A woman looks at her phone in the financial district of Shanghai on April 7, 2025. (AFP)
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China Metals Tumble on Recession Fears Amid Escalating Trade War 

A woman looks at her phone in the financial district of Shanghai on April 7, 2025. (AFP)
A woman looks at her phone in the financial district of Shanghai on April 7, 2025. (AFP)

Base metal prices in China tumbled on Monday amid escalating trade war concerns and recession fears, while London metals flipped to a decline after rising on arbitrage trading.

The most-traded copper contract on the Shanghai Futures Exchange (SHFE) dropped 7.0% to 73,640 yuan per metric ton as of 0805 GMT, hovering near its lowest level in over three months since January 3.

SHFE market was closed last Friday for a holiday.

"The retaliatory tariff makes us worry about trade war, which will impede economic growth globally," a metals trader said.

Top metals consumer China hit back on Friday with additional 34% tariffs on all US goods from April 10, after US President Donald Trump imposed a 34% tariff on most Chinese goods as part of his sweeping reciprocal tariffs.

Meanwhile, the benchmark three-month copper on the London Metal Exchange (LME) lost 0.5% to $8,733 per ton. Eearlier in the day, copper rose 3% on arbitrage trading.

"When the SHFE market opened in the morning, arbitrage traders actively traded on both SHFE and LME, capitalizing on the price gap to generate profit. Their activity increased market liquidity, which in turn pushed LME metals prices higher," a second base metals trader said.

"Then in the afternoon, the western traders participated in trading, and worries about recession took over," the second trader said.

The traders requested anonymity as they were not authorized to speak to the media.

Arbitrage trading between LME and SHFE happens when traders buy metals on an exchange where it's cheaper and sell it where it's more expensive, profiting from the price difference.

SHFE aluminium slid 3.7% to 19,685 yuan a ton, zinc lost 2.2% to 22,625 yuan, lead fell 3.1% to 16,660 yuan, while nickel was down 7.5% to 118,640 yuan, tin fell 8.6% to 267,800 yuan.

Among other metals, LME aluminium lost 1.0% to $2,355 a ton, lead declined 1.5% to $1,878, zinc lost 2.2% to $2,599, tin was down 4.9% at $33,650 and nickel was down 3.1% at $14,305 a ton.

LME aluminium, lead and zinc rose between 0.5% and 1.6% earlier in the day.