Cop28 boosts coastal community climate role
12 December 2023
Of the $83.9bn in funding commitments made during the first 11 days of the Cop28 UN climate summit, $467m has been allocated to local climate action, in addition to $134m for adaptation, $129m for least-developed countries and $30bn for climate finance.
The Loss and Damage Fund has also attracted commitments of over $720m, with more expected to come.
These financial commitments will benefit local communities globally that have been taking the brunt of extreme weather events such as floods and droughts.
"The Cop28 summit in Dubai has recognised that the success of nearly all agreed climate measures and funding will depend on local and sub-national government implementation," says Alfredo Coro II, mayor of Del Carmen municipality in the Philippines' southern Siargao Islands.
Coro attended the Local Climate Action Summit, which was organised as part of the Cop28 conference.
"We recognise [former New York City mayor] Michael Bloomberg's role in pushing for mayors to be at the forefront of discussions on climate change actions, policies and funding," Coro tells MEED.
"We hope our network… will be able to attract global organisations to listen and respect the innovations of small coastal communities to address climate change impact on oceans and support sustainable fishing, as well as coastal management."
Coro also represents the Costal500, an alliance of mayors and other local government leaders from countries including Brazil, the Federated State of Micronesia, Guatemala, Honduras, Indonesia, Mozambique, Palau and the Philippines.
The Coastal500 alliance aims to serve as a platform for scaling climate adaptation and climate solutions in small local communities around the world.
"The local governments implement the climate action and they also absorb all the loss and damages," says Coro. "Recognising local governments in Cop28 will … play a major role in the discussions of operationalising the Loss and Damage Fund, from global finances to national government funds."
A total of 200 countries agreed to set up the Loss and Damage Fund at Cop27 last year, nearly 30 years since it was first discussed at a Conference of the Parties of the UN Framework Convention on Climate Change (Cop).
Cop28 announced operationalising the fund on 30 November, with the UAE and Germany each pledging $100m towards the fund; the UK pledging $75m; and the US, which has previously pushed back on the fund, planning to contribute $17.5m.
France and Italy each pledged $108m, Denmark pledged $50m, Norway committed $25m, and Japan and China each pledged $10m.
According to Coro, the Coastal500 members have already proven case studies that, when replicated, will be able to help mitigate and adapt to the impacts of climate change on a family and community level.
He cites as an example an integrated climate adaptation and mitigation strategy in his municipality. "We rehabilitated our mangrove ecosystem and conducted investments to prepare our communities and local government," he explains.
These helped to minimise the loss of life when super typhoon Rai made landfall in the Siargao Islands in December 2021. However, the typhoon heavily damaged the islands' Climate Field School, which was funded by a climate adaptation fund in the Philippines.
"We hope that localising the policies and practices will give local governments the courage to demand the needed access to financing potential loss and damages that have direct consequences to their respective constituency and community," Coro says.
Drop in the ocean
The final mechanisms for the Loss and Damage Fund have yet to be finalised. It remains unclear whether the funds will be disbursed as loans or grants.
Unlike climate mitigation and adaptation projects that aim to reduce carbon emissions and improve community responses to extreme weather events, the Loss and Damage Fund intends to help communities that have already suffered losses such as flood-damaged bridges or dams and agricultural crop revenues.
Rich, carbon-emitting countries are the expected main sources of the fund, although China, the world's top carbon emitter, which is a developing country, could technically qualify both as a source and recipient of the fund.
While operationalisng the fund has been considered a breakthrough, some critics have said that the pledges so far amount to only 0.2 per cent of what is needed to address the problem.
"The millions promised for the Loss and Damage Fund at Cop28 are a drop in the ocean of what is needed," notes Lien Vandamme, a senior campaigner at the Centre for International Environmental Law.
“Hundreds of billions of public, grants-based, new and additional money is needed, and we cannot call this Loss and Damage Fund a success as long as this is lacking,” she added.
Mena extreme weather
Several countries in the Middle East and North Africa (Mena) region have recently suffered major calamities that can be directly linked to climate change.
Thousands of people were feared to have drowned when a storm swept through Derna in eastern Libya on 11 September. Heavy rains from Storm Daniel caused a water dam about 12 kilometres from Derna to fail, sending water down a valley and overwhelming a second dam closer to the city.
The storm was called a Medicane – a portmanteau for Mediterranean and hurricane – which experts said drew enormous energy from extremely warm seawater. A warmer atmosphere is also understood to hold more water vapour that can fall as rain.
Photo: Pixabay
Exclusive from Meed
-
-
Bahrain opens bids for 1.2GW Sitra IWPP19 June 2026
-
-
Chinese firms win $506m Saudi housing project deals18 June 2026
-
Diriyah awards $727m Waldorf Astoria superblock deal17 June 2026
All of this is only 1% of what MEED.com has to offer
Subscribe now and unlock all the 153,671 articles on MEED.com
- All the latest news, data, and market intelligence across MENA at your fingerprints
- First-hand updates and inside information on projects, clients and competitors that matter to you
- 20 years' archive of information, data, and news for you to access at your convenience
- Strategize to succeed and minimise risks with timely analysis of current and future market trends
Related Articles
-
Aramco issues tender for gas pipeline at Ras Tanura refinery19 June 2026

Register for MEED’s 14-day trial access
Contractors are preparing bids for a Saudi Aramco tender involving the replacement of a pipeline that is part of the Gas Line Abqaiq – Ras Tanura (GART) transmission network.
The GART grid transports associated gas and natural gas liquids (NGL) from the Abqaiq oil processing complex as feedstock, northwards to the Ras Tanura refinery in Saudi Arabia’s Eastern Province.
The aim of the project is to replace the GART-22 pipeline that connects the Juaymah export terminal on the Gulf coast in the Eastern Province to the Ras Tanura refinery, to ensure reliable fuel gas supply and meet ongoing demand.
The basic scope of work on the project is to install a new, 24-inch pipeline system that will replace the GART-22 line and the abandoned GART-24 line. It will cover a distance of 18 kilometres between Juaymah and the Ras Tanura terminal.
The scope also includes the installation of associated scraper trap facilities (launcher and receiver), pressure control valves, motor-operated valves and gas detection and sampling systems.
Aramco issued the tender for the project in May and has set a deadline of 30 June for contractors to submit proposals.
The following contractors, among others, are understood to be bidding for the project:
- ACE Pipeline Arabia
- Combined Group Contracting Company
- Gas Arabian Services Company
- Max Streicher Saudi Arabia
- National Basics Company
- Saad Ali Alessa Group
- Sicim
- Sinopec Engineering Group Saudi
- Tecton Engineering & Construction
Ras Tanura refinery complex
The Ras Tanura refinery is the oldest, and one of the largest, crude oil refineries in Saudi Arabia. The complex has a refining capacity of 550,000 barrels a day (b/d).
The facility also has a 305,000 b/d NGL processing facility, a 960,000 b/d crude stabilisation facility, combined steam and gas turbine electrical power generation plants with a summer capacity of 145MW and a winter capacity of 158MW, and a combined 150-pound and 600-pound steam capacity of 6,217 million pounds an hour.
It has 75 crude oil and products storage tanks with a combined capacity of 5.8 million barrels.
The Ras Tanura refinery’s major facilities include a 325,000 b/d crude distillation unit, a 225,000 b/d gas condensate distillation unit, a 50,000 b/d hydrocracker and 107,000 b/d of catalytic reforming capacity.
The facility is Aramco’s only refinery to contain a Visbreaker processing unit, which has a 60,000 b/d capacity.
The Visbreaker reduces the quantity of residual oil produced in the distillation of crude oil and increases the yield of more valuable middle distillates, heating oil and diesel.
The refinery complex also produces 17,000 b/d of asphalt, more than any other refinery in Saudi Arabia.
Ras Tanura receives crude feedstock from the Abqaiq, Safaniya and Manifa oil field developments.
Crude is typically transferred to Ras Tanura through a pipeline and can also be supplied by ship.
Most of Ras Tanura’s production is transferred to the Dhahran bulk plant for domestic use, while some products are exported from the nearby Ras Tanura shipping terminal.
READ THE JUNE 2026 MEED BUSINESS REVIEW – click here to view PDFGCC 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:
> AGENDA: Gulf races to reroute trade> EXPORT ROUTES: Regional war boosts oil and gas pipeline project activity> CURRENT AFFAIRS: UAE’s Opec departure fulfils multiple ends> MEED TOP 100: Middle East stocks recover unevenly> LEADERSHIP: Building the infrastructure that makes net zero possible> TRADE DEAL: UK-GCC trade deal talks concludeTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/17332850/main.JPG -
Bahrain opens bids for 1.2GW Sitra IWPP19 June 2026
Register for MEED’s 14-day trial access
Two developers have submitted bids for the 1.2GW Sitra independent water and power plant (IWPP), according to details published by Bahrain’s Tender Board.
The offers were made by Abu Dhabi National Energy Company (Taqa) and Saudi Arabia's Acwa. The technical element of the bid was opened on 18 June.
The Sitra IWPP is a combined-cycle gas turbine plant and is expected to have a generation capacity of about 1,200MW of electricity. The project’s seawater reverse osmosis desalination facility will have a production capacity of 30 million imperial gallons a day.
The build, own and operate project is being procured by Bahrain’s Electricity & Water Authority (EWA) under a public-private partnership framework for 20-25 years.
According to a source, "evaluation will be done on technical bids and put up to a tender board for approval".
Financials will be opened only after the technical element has been approved.
Other major IWPP projects in the region have also recorded relatively low bidder particpation in recent weeks, reflecting the level of investment required for such projects.
Earlier this month, MEED reported that just two bids had been received for the first phase of Kuwait’s Al-Khairan IWPP project.
Three consortiums and two individual companies had previously prequalified to participate in the tender.
In 2024, Bahrian's EWA received statements of qualifications from nine firms interested in bidding for the Sitra IWPP. Seven international companies and consortiums were then prequalified to bid last year.
Sitra grid works
Meanwhile, firms are still awaiting awards for two separate contracts related to the establishment of new Sitra 400kV grid substations.
The first contract involves transformer and reactor works for the establishment of the substations.
Switzerland-headquartered Hitachi Energy submitted the lowest bid of BD17.8m ($47.1m). Germany’s Siemens Energy submitted an offer of BD23.9m ($63.2m).
The second contract involves 400kV and 220kV feeder cable works for the same Sitra 400kV grid substations. Three South Korean companies previously bid for the contract.
Bids for both contracts were opened in March.
In September, Siemens Energy won a contract worth BD48.1m ($127m) to build a 400kV transmission substation in Sitra to provide the transmission link for the planned Sitra IWPP.
READ THE JUNE 2026 MEED BUSINESS REVIEW – click here to view PDFGCC 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:
> AGENDA: Gulf races to reroute trade> EXPORT ROUTES: Regional war boosts oil and gas pipeline project activity> CURRENT AFFAIRS: UAE’s Opec departure fulfils multiple ends> MEED TOP 100: Middle East stocks recover unevenly> LEADERSHIP: Building the infrastructure that makes net zero possible> TRADE DEAL: UK-GCC trade deal talks concludeTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/17329853/main.jpg -
Jordan starts international stadium construction works18 June 2026
Register for MEED’s 14-day trial access
Jordan has started preliminary excavation and site preparation work at its Al-Hussein Bin Abdullah II International Stadium, located east of the capital city of Amman.
The project is part of the first phase of the Amra City development master plan.
The development is being implemented by Jordan Cities & Facilities Development Company, a Jordan Investment Fund-owned company.
The main works are expected to begin early next year, with the stadium slated for completion in 2029.
The project will cover an area of about 1 million square metres and the stadium will have a capacity of 50,000 spectators.
The stadium is being built within the Amra City development, which is located about 40 kilometres (km) from downtown Amman and 35km from Zarqa City and Queen Alia International airport.
The project forms part of Jordan's Economic Modernisation Vision (EMV) 2023-25.
The EMV – Amman’s flagship reform programme – aims to increase real income per capita by an average of 3% annually, create 1 million jobs, and more than double the country’s GDP over the next decade.
The strategy envisages a leading role for the private sector, which is expected to account for 73% of the estimated $58.8bn investment required.
To achieve these targets, a substantial pipeline of public-private partnership (PPP) projects is planned in sectors including water desalination, school construction, clean energy, green hydrogen, transport and road infrastructure.
Last year, the PPP unit at the Investment Ministry said it was targeting seven key PPP projects in 2025.
READ THE JUNE 2026 MEED BUSINESS REVIEW – click here to view PDFGCC 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:
> AGENDA: Gulf races to reroute trade> EXPORT ROUTES: Regional war boosts oil and gas pipeline project activity> CURRENT AFFAIRS: UAE’s Opec departure fulfils multiple ends> MEED TOP 100: Middle East stocks recover unevenly> LEADERSHIP: Building the infrastructure that makes net zero possible> TRADE DEAL: UK-GCC trade deal talks concludeTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/17325757/main.png -
Chinese firms win $506m Saudi housing project deals18 June 2026
Register for MEED’s 14-day trial access
Saudi Arabia’s Municipalities & Housing Ministry has awarded contracts worth over SR1.9bn ($506m) to Chinese contractors for two residential developments in the kingdom.
The first contract has been awarded to China Architectural Construction Corporation for the construction of 2,010 housing units at the Al-Ruba residential project in Riyadh. The contract value is SR875m ($233m).
The other contract has been awarded to China State Construction Engineering Corporation for the Al-Rasha Al-Faisaliah residential project in Dammam. The project comprises 2,426 housing units, and the contract value is over SR1bn ($266m).
The contracts were announced during the official visit of Majed Al-Hogail, Saudi Municipalities & Housing Minister, to China, where he also signed six memorandums of understanding (MoUs) between Saudi and Chinese firms. The MoUs aim to accelerate housing development, localise advanced construction technologies and enhance public-private sector collaboration.
MEED reported in 2020 that Riyadh planned to oversee the development of more than 1 million homes by 2025 to meet growing demand in the kingdom.
By 2030, the Saudi capital aims to more than double its population, from 7-8 million to 15-20 million, and to become one of the 10 wealthiest cities in the world.
READ THE JUNE 2026 MEED BUSINESS REVIEW – click here to view PDFGCC 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:
> AGENDA: Gulf races to reroute trade> EXPORT ROUTES: Regional war boosts oil and gas pipeline project activity> CURRENT AFFAIRS: UAE’s Opec departure fulfils multiple ends> MEED TOP 100: Middle East stocks recover unevenly> LEADERSHIP: Building the infrastructure that makes net zero possible> TRADE DEAL: UK-GCC trade deal talks concludeTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/17322994/main.png -
Diriyah awards $727m Waldorf Astoria superblock deal17 June 2026

Saudi gigaproject developer Diriyah Company has awarded a SR2.7bn ($727m) contract for the main construction works on the development’s Waldorf Astoria superblock.
The contract was awarded to the joint venture of Hassan Allam Construction Saudi and UCC Saudi, the local branch of Qatar’s Urbacon Holding.
The Waldorf Astoria superblock is a mixed-use development comprising a Waldorf Astoria hotel, Waldorf Astoria-branded residences, commercial and residential facilities, and office space.
The Waldorf Astoria hotel will feature 200 keys, while the residential component will comprise 47 branded residences.
The project is located on the Grand Boulevard South and Northern Arterial Road in the Boulevard Northwestern district at Diriyah Gate 2.
Diriyah Company tendered the contract in November last year, with submissions due in January, as MEED reported.
Diriyah Company Group CEO Jerry Inzerillo said: “We are delighted to announce this latest major construction contract for the Waldorf Astoria superblock as we continue to progress at pace across the Diriyah development area. The Waldorf Astoria will be a world-class addition to our growing portfolio of globally renowned hospitality brands, further strengthening Diriyah’s appeal as a globally significant destination that offers world-class hospitality and lifestyle experiences.
“Together with our partners, we look forward to delivering another landmark development that supports the kingdom’s Vision 2030 ambitions and contributes to the continued growth and success of Diriyah.”
Hassan Allam, chairman and CEO of Hassan Allam Holding, said: “We are proud to support the development of one of the kingdom’s most ambitious and transformative destinations and to continue our partnership with Diriyah Company in bringing its vision to life.
“Drawing on more than 90 years of experience across the Mena region, we remain committed to delivering the highest standards of quality and excellence on landmark projects that are helping shape the kingdom’s future.”
Ramez Al-Khayyat, UCC Holding president and group CEO, said: “Being awarded this contract by Diriyah Company marks another important milestone in our growing partnership and reinforces our shared commitment to delivering world-class developments across the kingdom. This project builds on our ongoing collaboration in Diriyah, including the delivery of four luxury hotels and the Royal Diriyah Equestrian and Polo Club in Wadi Safar.
“We value the opportunity to contribute once again to one of Saudi Arabia’s most ambitious and prestigious urban development destinations, supporting the vision of creating a world-class cultural, hospitality and lifestyle hub.”
The latest award follows Diriyah Company’s award of an estimated SR730m ($195m) construction contract for civic quarter buildings within the Diriyah development to local contractor Al-Rashid Trading & Contracting Company (RTCC).
In April, Diriyah announced a SR1.84bn ($490m) construction contract to build the Saudi Arabia Museum of Contemporary Art (SAMoCA) within the Diriyah development. The contract was awarded to a consortium of Egyptian contractor Hassan Allam Construction Saudi and Saudi Arabia’s Albawani.
In March, Diriyah Company awarded an estimated SR2.5bn ($666m) contract to build the Pendry superblock in the DG2 area.
The Pendry superblock includes the construction of the Pendry Hotel alongside residential and commercial assets. The package will cover 75,365 square metres and is located in the northwestern district of the DG2 area.
The previous month, Diriyah Company also awarded a SR717m ($192m) contract for the construction of the One Hotel, located in the Diriyah Two area of the masterplan, with a gross floor area of more than 31,000 sq m.
The Diriyah masterplan envisages the city as a cultural and lifestyle tourism destination. Located northwest of Riyadh’s city centre, it will cover 14 square kilometres and combine 300 years of history, culture and heritage with hospitality facilities.
https://image.digitalinsightresearch.in/uploads/NewsArticle/17287718/main.jpg