meed-logo

line1 line2 line3
SIGN IN / REGISTER

All systems set for Cop28

28 November 2023

Commentary
Jennifer Aguinaldo
Energy & technology editor

Register for MEED's guest programme 

It's all systems go with little more than a day before the UAE rolls out the red carpet for close to 140 heads of state at the opening ceremony of the 28th Conference of the Parties (Cop28) of the UN Framework Convention for Climate Change (UNFCCC).

The Cop28 opening day on 30 November will be followed by the two-day World Climate Action Summit, which will convene heads of state and government, civil society, business leaders, youth, indigenous peoples organisations, frontline communities, science and other sectors.

The initial two days will involve the first global stocktake of the progress countries have made towards their emissions reduction commitments, or nationally determined contributions (NDCs).

It is expected that many countries will report underachieving their goals, but Cop28 has indicated that the process is not a name-and-shame exercise.

The final negotiations will occur on the last two days of the summit, 11 and 12 December.

The key negotiating themes will involve money and how it flows to enable a just energy transition. The rich countries responsible for the highest carbon emissions will be pressured to meet their collective pledge to mobilise $100bn in annual climate finance, which will be used for climate change adaptation and mitigation measures.

There is also a widespread expectation that Cop28 will operationalise the Loss and Damage Fund, which will be made available to countries needing support to deal with the impact of climate change.

Related read: Lukewarm Cop27 ends

In late October, a declaration from the world’s 46 least-developed countries cited a “strong outcome operationalising the new Loss and Damage Fund” among their key expectations and priorities for Cop28.

Home to more than 14 per cent of the world’s population, these countries contribute about 1 per cent of emissions from fossil fuels and industrial processes and most are on the front line of the climate crisis.

The inclusion of loss and damage funding in the final Cop27 statement last year was considered a breakthrough milestone, and operationalising the fund – the final form and mechanisms of which remain unclear – will be a key achievement for Cop28.

Another key sticking point for a potential final agreement between the parties is the adoption and endorsement of phasing down or phasing out of fossil fuels, in particular unabated fossil fuels, which some observers say is going to be unlikely.

Of particular concern will be how a just energy transition will not disenfranchise some Global South countries keen to develop their hydrocarbons reserves to drive their economic development.

Most countries, companies and investors are also expected to sign up for the Tripling Initiative, or the agenda aiming to triple renewable energy capacity generation, to keep the 1.5 degrees Celsius cap on global warming within reach.

Thousands of meetings and engagements will focus on financing carbon abatement projects in key industries such as hydrocarbons, aluminium, steel and cement.

There will be plenty of talks and collaborations looking at climate technology innovations in sectors such as food and agriculture, transportation and mobility, buildings, power generation and petrochemicals.

The UAE’s leadership envisages that this year’s summit will be the most inclusive Cop ever, and plans to use it as a platform to spread its pro-climate and pro-growth agenda.

The UAE and other countries in the Middle East and North Africa region are expected to announce scores of projects and policies within the renewable energy, hydrogen, electric vehicles, carbon capture and technology sectors to boost their green credentials. 

There is palpable excitement and pride everywhere as the Expo 2020 Dubai site transforms into a global epicentre for climate talks starting on Thursday, and prepares to host an estimated 70,000 visitors from around the world.

But there is also some trepidation, as the event is taking place at a time of heightened geopolitical tensions in the Middle East and elsewhere. As things stand, the presidents of the world’s two largest carbon-emitting countries, which are also waging a global policy war to assert influence over much of the Middle East and Southeast Asia, have decided to skip Cop28.

Photo: Pixabay

https://image.digitalinsightresearch.in/uploads/NewsArticle/11331328/main.jpg
Jennifer Aguinaldo

Register for MEED's guest program now to access this article.

Click here to register
Exclusive from Meed
Related Articles
  • Kuwait extends deadline for $718m drainage tender

    24 June 2026

     

    Kuwait’s Ministry of Public Works (MPW) has extended the deadline for a major drainage tender estimated to be worth about KD222m ($718m).

    The new bid submission deadline is 19 July.

    The tender scope covers the construction of rainwater drainage networks across the residential areas of Sabah Al-Ahmad, South Sabah Al-Ahmad, Al-Khairan and Al-Wafra.

    The MPW floated the tender on 22 March. The most recent deadline was 21 June.

    According to regional projects tracker MEED Projects, the works include the construction of a major concrete sewer, three collection basins and extensive stormwater drainage basins.

    Rainwater collection tanks will be connected through an independent network, with outlets to the sea via the Nuwaiseeb exit to manage overflow.

    The infrastructure will also filter pollutants such as oils, minerals and sediments to protect water quality and support environmental sustainability.

    The project aims to reduce surface runoff, prevent street and urban flooding, and improve groundwater recharge.

    Kuwait’s MPW currently has several contracts out for tender for infrastructure works across various parts of the country.

    Also, in March, the client released two additional tenders covering the construction of a treated water system in Kuwait’s southern region and another in Kuwait’s northern region.

    Bids for both projects are due by 28 June.

    Meanwhile, the MPW is planning to begin construction of the $3.3bn North Kabd sewage treatment plant, which has a planned capacity of up to 1 million cubic metres a day.

    China State Construction Engineering Corporation (CSCEC) won the contract to build the plant earlier this year.

    > Be recognised among the best in the industry at the MEED Projects Awards 2026 …

    https://image.digitalinsightresearch.in/uploads/NewsArticle/17411675/main.jpg
    Mark Dowdall
  • Contractor wins Emaar Dubai Harbour project deal

    24 June 2026

     

    Local construction firm Al-Sahel Contracting Company has won a contract to build The Bristol Luxury Hotels & Resorts project in Dubai.

    The contract was awarded by local real estate developer Emaar Properties.

    The Bristol Luxury Hotels & Resorts is located at Emaar Beachfront in Dubai Harbour.

    The project comprises a 54-storey mixed-use building with about 150 hotel keys and 227 one- to four-bedroom apartments.

    Enabling works have been completed by local firm Dutch Foundation.

    Dubai-based Mirage Leisure & Development is the project’s consultant.

    Construction is expected to be completed by 2028.

    The contract award follows Emaar’s appointment of Dubai-based Aroma International Building Contracting to build the Address Grand Downtown tower.

    The award also comes shortly after Emaar reported strong operating momentum in 2025, led by record property sales of AED80.4bn ($21.9bn), up 16% year on year.

    The company’s revenue backlog from property sales rose to AED155bn ($42bn), supporting visibility on future revenue recognition.

    Total revenue for 2025 reached AED49.6bn ($13.5bn), a 40% year-on-year increase. Earnings before interest, taxes, depreciation and amortisation grew 33% to AED25.6bn ($7bn), while net profit before tax rose 36% to AED25.7bn ($7bn).

    Emaar’s platform continued to support performance across property development, malls, hospitality, leisure and international operations.

    > Be recognised among the best in the industry at the MEED Projects Awards 2026 …

    https://image.digitalinsightresearch.in/uploads/NewsArticle/17411104/main.jpg
    Yasir Iqbal
  • Kuwait tenders oil manifold project

    24 June 2026

    State-owned upstream operator Kuwait Oil Company (KOC) has tendered a contract to construct remote header manifolds and associated works in the southern and eastern regions of Kuwait.

    A meeting with prospective contractors has been scheduled for 21 July 2026, and bids are due to be submitted ahead of a deadline on 20 September 2026.

    Manifolds are devices used in the oil sector to divide the flow of liquids from a single source to several outlets, or to collect liquids, or vice versa.

    Previously, a project with a similar scope in the same region was awarded to the Kuwaiti contractor Al-Ghanim International General Trading & Contracting.

    In 2016, it signed a contract worth $435m to construct remote header manifolds and associated works in the south and east Kuwait areas.

    The scope of that contract included design, procurement, construction and commissioning of 25 remote manifold stations and associated pipelines in south and east Kuwait using multi-phase pumps to deliver liquids to gathering centres.

    Kuwait’s oil fields are connected to more than 25 gathering centres, which serve as collection points for crude oil produced by several wells connected by flowlines, providing initial treatment by separating associated gas and removing salt.

    READ THE JUNE 2026 MEED BUSINESS REVIEW – click here to view PDF

    GCC looks beyond the Strait; Iraq’s reform window narrows as fiscal assumptions shatter; MEED Top 100 companies.

    Distributed to senior decision-makers in the region and around the world, the June 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/17409564/main.jpg
    Wil Crisp
  • Firm wins $94m Diriyah MEP works deal

    23 June 2026

    Riyadh-based Red Sea International Company has announced that its subsidiary, Fundamental Installation for Electric Work Company (FirstFix), has won a SR352m ($94m) contract to carry out mechanical, electrical and plumbing (MEP) works for a project in Diriyah.

    The contract was awarded by Salini Saudi Arabia, the local subsidiary of Italian contractor Webuild.

    In a filing on the Saudi Stock Exchange (Tadawul), the company said the scope of work includes the supply, installation, testing and commissioning of all MEP works, as well as related engineering works.

    The contract duration is 454 days.

    In July last year, Webuild announced that it had won a $600m contract from Diriyah Company for a package for the Diriyah Square project.

    The contract relates to construction works on package three of the Diriyah Square project. It includes finishing and MEP works on more than 70 buildings and public spaces within Diriyah Square.

    These assets cover a total area of about 365,000 square metres.

    Webuild is already working on the underground multi-storey car park at Diriyah Square.

    The three-level underground car park will serve the mixed-use Diriyah Square district, which will include leisure and entertainment facilities, hotels, retail, Grade A offices, the King Salman Grand Mosque and residential units designed in the traditional Najdi architectural style.

    The car park has a floor area of 1 million square metres, with underground roads and tunnels beneath Diriyah Square, and a capacity for 10,500 cars.

    The parking facility will directly connect commuters with all of Diriyah’s destinations, including Wadi Hanifah, the Western Ring Road and a national motorway. It will be a key component of the City of Riyadh Arterial Road system.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/17397460/main.jpg
    Yasir Iqbal
  • Contractors win deals for Saudi Energy transmission projects

    23 June 2026

     

    Saudi Arabia-based Haif Company has won contracts for two separate substation projects in Saudi Arabia, according to sources.

    The first involves the construction of a 132/33/13.8kV substation for Saudi Energy, formerly Saudi Electricity Company, which will replace the existing Tabuk substation 2 in Tabuk, northwestern Saudi Arabia.

    The works include the construction of a new substation, along with GIS, transformers, switchgear, capacitor banks, MV/LV cable systems and protection infrastructure.

    Ten firms submitted bids for the project last December. The bidders included:

    • Al-Babtain Contracting (Saudi Arabia)
    • Alfanar Projects (Saudi Arabia)
    • Al-Gihaz Holding (Saudi Arabia) 
    • Al-Osais International Holding (Saudi Arabia)
    • Danway Electrical & Mechanical Engineering (UAE)
    • Haif Company (Saudi Arabia)
    • Mohammed Al-Ojaimi Group (Saudi Arabia)
    • Nesma Infrastructure & Technology (Saudi Arabia)
    • Saudi Services for Electro Mechanic Works (Saudi Arabia)
    • Tareg Al-Jaafari Contracting Est (Saudi Arabia)

    In addition to Tabuk, Saudi Energy is planning several power transmission projects in Al-Jouf, Medina and the Eastern Province as part of the kingdom’s push to upgrade its electricity transmission and distribution infrastructure

    The second Haif contract involves a 132/33kV substation project at Hail to support the integration of solar generation from the Al-Kahfah photovoltaic facility into the network. Together, the projects are valued at about $90m.

    Elsewhere, the local Trading & Development Partnership has been appointed to build a 132/33kV substation at Al-Jouf, in Al-Jouf Province.

    The facility will deliver a transmission capacity of about 168 MVA to the Al-Busitaa agricultural site, supporting the Liquid Fuel Displacement Programme, which aims to reduce reliance on diesel generators and fuel oil for power generation.

    Nine bids were submitted for the project last year.

    According to MEED Projects, Saudi Energy has almost $2.3bn-worth of projects currently under bid evaluation, including the 500kV overhead transmission line, approximately 466km long, for the Eastern Operating Area and the Central Operating Area in the Eastern Province. The main contract is expected to be awarded later in 2026.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/17397346/main.jpg
    Mark Dowdall