Abu Dhabi National Energy Company, better known as Taqa, launched a green finance framework for the issuance of green bonds, sukuks, loans and other debt instruments to support its net-zero goal.
Proceeds from such issuances will go to eligible green projects, including renewable energy, energy efficiency, sustainable water and wastewater management, clean transportation and terrestrial and aquatic biodiversity, Taqa said in a statement on Wednesday.
Projects financed under the framework will contribute to the company's 2030 environmental, social and governance (ESG) targets, and its goal of achieving net zero by 2050, in line with the UAE's ambitions.
“Taqa’s green finance framework is an important mechanism to help us finance the journey towards achieving our ESG goals, as a low carbon power and water champion," said Jasim Thabet, Taqa's group chief executive and managing director.
"Our own emission reduction targets are backed by a business plan and credible green projects that will see us play a key role in decarbonising the power and water sector as well as other industries in the UAE and around the world.”
Established in 2005, Abu Dhabi-listed Taqa is a diversified utilities and energy group with investments in power and water generation, transmission and distribution assets, as well as upstream and midstream oil and gas operations.
It has assets in the UAE as well as Canada, Ghana, India, Iraq, Morocco, Oman, the Netherlands, Saudi Arabia, the UK and the US.
Taqa is also a shareholder in Abu Dhabi Future Energy Company (Masdar), along with Mubadala and Adnoc.
In late 2022, the company announced its 2030 ESG strategy, which includes interim greenhouse gas emission reduction goals.
Taqa has committed to a 25 per cent reduction of scope 1 and 2 (direct and indirect) emissions by 2030, including a 33 per cent reduction of UAE portfolio emissions compared to the 2019 baseline.
The company has also committed to expanding its share of renewables to at least 30 per cent of total generation capacity by 2030.
"This goal has been accelerated with the acquisition of a 43 per cent stake in Masdar’s renewables business, which brings us to over 28 per cent of our portfolio coming from renewables," Taqa said.
In February, Taqa also formed a joint venture with Adnoc Distribution to build and operate electric vehicle infrastructure in Abu Dhabi as part of its ESG strategy.
The new company, E2GO, aims to become the principal provider of EV charging points and associated infrastructure across the UAE capital.
Last year, Taqa, together with Emirates Water and Electricity Company, raised $700.8 million through its first green bond.
“It's our intention to tap into the best available funding available in the market to increase returns for our shareholders and give us an edge for growth,” Mr Thabet told The National last month.
For Taqa's green finance framework, Citi, Standard Chartered Bank, MUFG and HSBC served as joint sustainability structuring banks alongside First Abu Dhabi Bank as sustainability finance framework adviser.
Know your camel milk:
Flavour: Similar to goat’s milk, although less pungent. Vaguely sweet with a subtle, salty aftertaste.
Texture: Smooth and creamy, with a slightly thinner consistency than cow’s milk.
Use it: In your morning coffee, to add flavour to homemade ice cream and milk-heavy desserts, smoothies, spiced camel-milk hot chocolate.
Goes well with: chocolate and caramel, saffron, cardamom and cloves. Also works well with honey and dates.
SQUADS
UAE
Mohammed Naveed (captain), Mohamed Usman (vice-captain), Ashfaq Ahmed, Chirag Suri, Shaiman Anwar, Mohammed Boota, Ghulam Shabber, Imran Haider, Tahir Mughal, Amir Hayat, Zahoor Khan, Qadeer Ahmed, Fahad Nawaz, Abdul Shakoor, Sultan Ahmed, CP Rizwan
Nepal
Paras Khadka (captain), Gyanendra Malla, Dipendra Singh Airee, Pradeep Airee, Binod Bhandari, Avinash Bohara, Sundeep Jora, Sompal Kami, Karan KC, Rohit Paudel, Sandeep Lamichhane, Lalit Rajbanshi, Basant Regmi, Pawan Sarraf, Bhim Sharki, Aarif Sheikh
Killing of Qassem Suleimani
UAE currency: the story behind the money in your pockets
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List of officials:
Referees: Chris Broad, David Boon, Jeff Crowe, Andy Pycroft, Ranjan Madugalle and Richie Richardson.
Umpires: Aleem Dar, Kumara Dharmasena, Marais Erasmus, Chris Gaffaney, Ian Gould, Richard Illingworth, Richard Kettleborough, Nigel Llong, Bruce Oxenford, Ruchira Palliyaguruge, Sundaram Ravi, Paul Reiffel, Rod Tucker, Michael Gough, Joel Wilson and Paul Wilson.
Charlotte Gainsbourg
Rest
(Because Music)
If you go
Flights
Emirates flies from Dubai to Phnom Penh with a stop in Yangon from Dh3,075, and Etihad flies from Abu Dhabi to Phnom Penh with its partner Bangkok Airlines from Dh2,763. These trips take about nine hours each and both include taxes. From there, a road transfer takes at least four hours; airlines including KC Airlines (www.kcairlines.com) offer quick connecting flights from Phnom Penh to Sihanoukville from about $100 (Dh367) return including taxes. Air Asia, Malindo Air and Malaysian Airlines fly direct from Kuala Lumpur to Sihanoukville from $54 each way. Next year, direct flights are due to launch between Bangkok and Sihanoukville, which will cut the journey time by a third.
The stay
Rooms at Alila Villas Koh Russey (www.alilahotels.com/ kohrussey) cost from $385 per night including taxes.
Meydan card
6.30pm: Al Maktoum Challenge Round-1 (PA) Group 1 US$65,000 (Dirt) 1,600m
7.05pm: Conditions (TB) $100,000 (Turf) 1,400m
7.40pm: UAE 2000 Guineas Trial (TB) $100,000 (D) 1,600m
8.15pm: Handicap (TB) $175,000 (T) 1,200m
8.50pm: Al Maktoum Challenge Round-1 (TB) Group 2 $350,000 (D) 1,600m
9.25pm: Handicap (TB) $175,000 (D) 1,900m
10pm: Handicap (TB) $135,000 (T) 1,600m
New UK refugee system
- A new “core protection” for refugees moving from permanent to a more basic, temporary protection
- Shortened leave to remain - refugees will receive 30 months instead of five years
- A longer path to settlement with no indefinite settled status until a refugee has spent 20 years in Britain
- To encourage refugees to integrate the government will encourage them to out of the core protection route wherever possible.
- Under core protection there will be no automatic right to family reunion
- Refugees will have a reduced right to public funds
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
Specs%20
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How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
The bio
Job: Coder, website designer and chief executive, Trinet solutions
School: Year 8 pupil at Elite English School in Abu Hail, Deira
Role Models: Mark Zuckerberg and Elon Musk
Dream City: San Francisco
Hometown: Dubai
City of birth: Thiruvilla, Kerala
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
Sly%20Cooper%20and%20the%20Thievius%20Raccoonus
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