Key initiatives on nature, carbon markets, renewables and more announced on Day 2 of Business & Philanthropy Climate Forum at COP28

Key initiatives on nature, carbon markets, renewables and more announced on Day 2 of Business & Philanthropy Climate Forum at COP28
1 / 2
Key initiatives on nature, carbon markets, renewables and more announced on Day 2 of Business & Philanthropy Climate Forum at COP28
2 / 2
Short Url
Updated 03 December 2023

Key initiatives on nature, carbon markets, renewables and more announced on Day 2 of Business & Philanthropy Climate Forum at COP28

Key initiatives on nature, carbon markets, renewables and more announced on Day 2 of Business & Philanthropy Climate Forum at COP28

Key business and philanthropy leaders joined with leaders of multilateral development banks and political leaders from emerging economies at COP28 on Saturday, to announce a range of initiatives aimed at harnessing the resources of business and philanthropy for climate action.

The second day of the inaugural COP28 Business and Philanthropy Forum included key announcements on preserving nature, energy transition alongside a methane abatement accelerator and an initiative to decarbonize health supply chains.

The day was opened with a keynote address from Kristalina Georgieva, managing director of the International Monetary Fund, who gave insights into how business and philanthropy leaders can work with global organizations to catalyze a just transition to a greener economy.

There were also sessions on the impact of philanthropy, featuring, Bill Gates, the co-chair of the Bill and Melinda Gates Foundation; Ray Dalio, founder of Bridgewater Associates; Dr. Precious Motsepe, co-founder and chief executive, Motsepe Foundation; and Abdul Aziz Al-Ghurair, chairman, Abdulla Al-Ghurair Foundation for Education.

A discussion on transition funding, involving Odile Renaud-Basso, president of the European Bank for Reconstruction and Development; Dilhan Pillay Sandrasegara, CEO of Temasek Holdings; and Dr. Andrew Steer, president and CEO of the Bezos Earth Fund, also explored the distinctive blended finance platform championed by Ahmed Saeed, CEO of Allied Climate Partners, and International Finance Corporation as one of the investors.

With opening remarks from Jesper Brodin, chief executive, Ingka Group, IKEA, the forum also hosted a key discussion on energy, which explored how the sector and other heavy emitting industries can work with policy-makers to galvanize broad action to advance the just energy transition and reduce emissions, whilst providing accessible energy to support the development of all economies and people. The session featured high-level speakers including Mohamed Jameel Al-Ramahi, chief executive, Masdar; Marco Arcelli, chief executive, ACWA Power; and Juliet Davenport, president, The Energy Institute; with closing remarks from Dr. Rajiv Shah, president, The Rockefeller Foundation.

Commenting on the forum and the role the private sector has to play in climate and nature, COP28 Special Representative for Business and Philanthropy and Chair of the COP28 Business and Philanthropy Climate Forum Badr Jafar said: “Governments simply do not have the available capital or capacity to make the climate transition on their

own. To move from the billions we have to the trillions we need, we require urgent, unprecedented, delivery-focused public, business and philanthropic collaboration. The Business and Philanthropy Climate Forum represents a paradigm shift that recognizes this opportunity and connects diverse stakeholders together in a way that creates a multiplier effect on climate and nature impact. The private sector increasingly recognizes that embracing a sustainable and equitable future, leaving no one behind, is the growth story of our time.”

The day also featured sessions on media and climate, harnessing nature for climate impact, the built environment, space and climate, the effects of climate on health, and a pitch session where climate entrepreneurs pitched their ideas to investors.

Among the initiatives announced at the forum were:

Enteric Fermentation R&D Accelerator

Andrew Steer, CEO, Bezos Earth Fund, in partnership with Methane Hub, CIFF, Quadrature Climate Foundation, and Danone announced the $250 million Enteric Fermentation R&D Accelerator, to accelerate methane mitigation in livestock production.

The Data for Methane Action Campaign

Kate Hampton, CEO, CIFF, in partnership with Global Methane Hub, High Tide Foundation, Bloomberg Philanthropies, and Bezos Earth Fund announced The Data for Methane Action Campaign, worth $100 million worth of funding to convert methane data into action.

Join the Planet

Alex Avellanet, board member of Join the Planet, unveiled a global movement committed to repurposing discarded materials into valuable products and reusing them to fund initiatives around the world that can protect, restore and regenerate natural ecosystems through work with local communities. The global movement is supported by the legendary Lionel Messi.

First Movers Coalition

Open remarks were provided by Secretary John Kerry, US special presidential envoy for climate, and Borge Brende, president of the World Economic Forum, for the First Movers Coalition session where CEOs from Volvo Group and Norsk Hydro announced a new partnership to co-develop a roadmap toward supplying near zero-aluminum in 2030.

Health for Climate

Leaders committed to pushing for ambitious net-zero targets across healthcare system supply chains. The health impact of climate change will include more cases of heat stress, infectious diseases, and malnutrition. The initiative, announced by Pascal Soriot, CEO of AstraZeneca, will aim to minimize the contribution of the global health system to the increased health burden it will eventually face.

Nature Positive for Climate Action

Razan Al-Mubarak, president of the International Union for Conservation of Nature and UN Climate Change High-Level Champion, and Manuel Pulgar-Vidal, CBD Nature Action Agenda Champion, announced the impact of the Nature Positive for Climate Action call of over 150 businesses and financial institutions having committed to a call to action to contribute to a whole-of-economy approach to transforming economy/society to meet climate and nature goals — noting it is important to activate the ambition loop to strengthen action from parties and put us on the path to meet the goals of the Paris Agreement, given the results of the Global Stocktake.

The Indigenous Peoples Initiative

Hindou Ibrahim, chair, International Indigenous Peoples Forum on Climate Change, announced a call to action to provide direct financing for indigenous peoples and organizations, to join forces in protecting and restoring nature and biodiversity.


Rodrigo Veloso, founder and CEO, ONE AMAZON, and Peter Knez, chairman, ONE AMAZON, announced the ONE AMAZON and ONE AMAZON IMPACT FUND, which is the world’s first trillion-dollar nature-based asset platform, benefitting all stakeholders while making a lasting impact on Amazon Rainforest preservation.

New Funding on Super Pollutants

Christie Ulman, president, Sequoia Climate Foundation, in partnership with Global Methane Hub and other philanthropies, announced new funding for super pollutants worth $450 million, which will help countries incorporate all non-CO2 GHG2 in their new NDC targets for 2035 and leverage additional resources to triple climate finance in this category by 2030.

RISE SCE appoints Richard Arrowsmith as sales director

RISE SCE appoints Richard Arrowsmith as sales director
Updated 18 July 2024

RISE SCE appoints Richard Arrowsmith as sales director

RISE SCE appoints Richard Arrowsmith as sales director

International commercial advisory agency, RISE Sport | Culture | Entertainment (RISE SCE) has named Richard Arrowsmith as its new sales director.

Based in the RISE headquarters in Riyadh, Saudi Arabia, Richard will lead RISE SCE’s growing rights sales team, responsible for delivering commercial revenues for clients across the sport, entertainment and cultural sectors.

RISE SCE is the agency that leads the Saudi Pro League sponsorship.

“We are delighted to have Richard join the team at a time of significant growth for commercial rights sales in our industry and RISE as an agency,” said Dave McCann, Partner, RISE SCE. “He joins with a proven track record in sports, culture, and entertainment rights sales across the Middle East and I have no doubt that he will continue to build on the commercial success RISE has delivered for our clients over the last decade.”

Founded in 2014, RISE SCE creates and implements commercial strategy for rights holders, governing bodies, and governments in the sector. It also boasts a growing brand activation team, creating platforms that deliver measurable return on sponsorship investments.

“We have an excellent team of consultants and brand specialists, as well as a proven commercial team that has delivered financial return for clients across the GCC,” said Richard Arrowsmith. “I am proud to be joining the team and look forward to driving more commercial success stories for RISE and the select group of rights holders that we represent in the market.”

Richard joins RISE SCE from Damac Properties, where he led the commercial program for the Trump International Golf asset in Dubai.

Smart mobility leader Alstom opens regional HQ in Saudi Arabia

Smart mobility leader Alstom opens regional HQ in Saudi Arabia
Updated 17 July 2024

Smart mobility leader Alstom opens regional HQ in Saudi Arabia

Smart mobility leader Alstom opens regional HQ in Saudi Arabia

Alstom, a global leader in green and smart mobility solutions, recently opened its regional headquarters in Riyadh. This step underscores Alstom’s commitment to advancing sustainable mobility and its long-standing role in shaping the region’s railway development. It builds on the French multinational company’s 70-year legacy, furthering railway innovation and development in Saudi Arabia.

Strategically located in the Saudi capital of Riyadh, the new headquarters is designed to enhance Alstom’s operations throughout the Gulf region and beyond. This includes fostering growth and development, improving the oversight of key projects and optimizing railway maintenance.

The inauguration also marks Mohamed Khalil’s new responsibility as managing director of Alstom’s regional headquarters in Riyadh, having led the business in Saudi Arabia since 2022

Khalil said: “Today marks a landmark moment as we open our advanced regional headquarters here in Riyadh — a talent hub where we tap into a dynamic pool of skilled professionals to drive innovation and growth. With a strong legacy spanning over 70 years, Alstom continues to lead in technological advancements and environmental responsibility. Our new office location, in King Abdullah Financial District, will serve as a center for our Middle East operations, staffed by rail mobility engineers and data scientists to provide advanced expertise and digital services.”

The Riyadh office also marks the establishment of the Services Digital Center, a core part of Alstom’s strategy to advance condition-based and predictive maintenance for railway assets. HealthHub, Alstom’s web-based platform solution for predictive maintenance, optimizes maintenance operations, reduces downtime, and ensures high availability and reliability of railway services, supporting fleets globally.

The first week of the new office was marked by the visit of Saudi Minister of Investment Khalid bin Abdulaziz Al-Falih and Chief Executive of KAFD Gautam Sashittal.

The deep-rooted partnership between Saudi Arabia and France is pivotal as both countries work toward their respective economic plans — Saudi Arabia’s Vision 2030 and France’s 2030 plan — under the dynamic leadership of King Salman and Crown Prince Mohammed bin Salman, and President Emmanuel Macron, respectively.

Dyson unveils inaugural demo store in Riyadh

Dyson unveils inaugural demo store in Riyadh
Updated 17 July 2024

Dyson unveils inaugural demo store in Riyadh

Dyson unveils inaugural demo store in Riyadh

Dyson unveiled their inaugural Riyadh demo store at Nakheel Mall, marking a significant leap in their commitment to technological advancements and growing presence in the Kingdom. The state-of-the-art 109-square-meter store showcases Dyson’s complete product lineup, offering customers an immersive encounter to understand and experience Dyson’s cutting-edge technology.

The demo store features a styling room where clients can privately experiment with the latest hair care innovations, including the Dyson Airstrait, Dyson Airwrap multi-styler, Dyson Supersonic hair dryer, and Dyson Corrale cordless hair straightener. Tech enthusiasts can also consult with Dyson’s experts to effortlessly navigate the brand’s signature hair care collection.

In addition to hair care, clients can explore the brand’s diverse array of products across key categories including Floor Care, Environmental Care, and Wearables. The store offers interactive demonstrations, bringing the science behind Dyson’s technology to life. Customers can trial Dyson’s high-performance cordless vacuums and a range of intelligent, connected air purifiers, ensuring an unparalleled “try-before-you-buy” shopping experience.

Moreover, visitors purchasing directly from the store have the opportunity to personalize their hair care product cases and benefit from complementary Dyson-branded gift-wrapping services.

Situated between Zara and Sephora near Entrance 2, the outlet marks the first Dyson demo store in Saudi Arabia this year, and the fifth Dyson store in the GCC.

Henkel launches beauty care production facility in KSA

Henkel launches beauty care production facility in KSA
Updated 17 July 2024

Henkel launches beauty care production facility in KSA

Henkel launches beauty care production facility in KSA

Henkel, a global leader in industrial and consumer products, has announced the opening of its cutting-edge beauty care production facility in Riyadh.

The facility will produce a wide range of products under the Pert brand, including shampoos, conditioners, and other specialized items, meeting the growing demand for premium personal care products in the Middle East.

This development represents a major step forward for the Henkel Consumer Brands division. It emphasizes Henkel’s commitment to expanding its presence in Saudi Arabia and the broader region, reinforcing the company’s dedication to local production and sustainable business practices.

Sustainability is a key focus at the facility. The plant features next-generation water treatment technology designed to minimize water waste and sustainable practices that significantly improve energy efficiency, aligning with Henkel’s global sustainability objectives.

Irina Eliseeva, general manager, HCB, said: “Saudi Arabia is a very important market for us. Investing in localizing our production in Riyadh brings us closer to our consumers and allows us to expand our portfolio with Pert hair care products made right here. This complements our existing locally produced range, including Persil abaya shampoos, Persil gel and powder detergents, DAC disinfectant and home cleaning products. We remain committed to delivering high-quality, locally made offerings that meet the evolving needs of our valued Saudi consumers and beyond.”

The grand opening ceremony was attended by prominent industry figures and Henkel executives.

Amr Elfawal, project lead and regional head of MEA-Central Asia at HCB, said: “The new production facility in Riyadh represents Henkel’s commitment to innovation, sustainability, and purposeful growth. This facility will enhance our production capabilities and strengthen our market position, allowing Henkel to provide its leading beauty care products to our customers.”

Constructed in just one year, the new facility is set to boost Henkel’s operational efficiency and market responsiveness in the Kingdom. By establishing a local production hub, Henkel can better meet the changing demands of the Saudi market and the region, ensuring faster delivery times and improved product availability. unveils epic deals for longest Prime Day sale event in Saudi Arabia unveils epic deals for longest Prime Day sale event in Saudi Arabia
Updated 17 July 2024
Follow unveils epic deals for longest Prime Day sale event in Saudi Arabia unveils epic deals for longest Prime Day sale event in Saudi Arabia has unveiled thousands of incredible deals for its longest Prime Day sale event ever in Saudi Arabia from July 16 until July 21, offering exceptional value exclusively to Prime members. 

For the first time, Prime members will enjoy six full days of Prime Day deals and savings across over 30 product categories, including electronics, gaming, fashion, beauty, kitchen, home, health, sports, and Amazon devices. It is not too late to join Prime for only SR16 ($4.2)/month, or SR140/year, and enjoy year-round benefits of membership, such as unlimited free and fast local and international delivery options and access to Prime Video and Prime Gaming.

Prime members in Saudi Arabia will also be able to shop a wider selection of deals across products from Amazon US, UK, and for the first time Amazon Germany, which brings an additional 3 million products to the Global Store from popular international brands including Samsung, Nivea, PlayStation, Philips, Calvin Klein, and LEGO. Prime Members on using Mastercard and SNB Mastercard cards for Prime Day Sale orders can enjoy additional discounts.

Abdo Chlala, country manager, Amazon Saudi Arabia, said: “Prime Day has always been the biggest celebration of Prime and this year we are ensuring our members across the Kingdom get even more value with a full six days of epic deals. This is the biggest celebration of Prime, with thousands of deals across top local and international brands, and more savings with instant bank discounts. Prime members will also enjoy a wider selection of deals via our Global Store, featuring new selection from Amazon Germany for the first time as well. I encourage our members to explore the range of benefits that aim to make their shopping experience easier and more fun, through one single membership delivering value, savings, convenience, and entertainment for only SR16/month.”

During Prime Day, Prime members can enjoy saving benefits from top local and international brands across different categories, including:

  • Save up to 24 percent on the new Echo Spot, just launched by Amazon in celebration of Prime Day. Echo Spot is an Alexa-enabled smart alarm clock with a compact, colorful display that makes it easy to see the time, weather, prayer time notifications and song titles from your nightstand.
  • Up to 41 percent on mobile phones from brands including Honor, Samsung, Xiaomi, and Motorola
  • Up to 36 percent on TVs from brands including Samsung and Panasonic
  • Up to 40 percent on laptops from brands including HP, Microsoft and ASUS
  • Up to 10 percent on video gaming from brands including PlayStation, Sony, Microsoft and Razer
  • Up to 23 percent on gaming monitors and gear from brands including ASUS, LG, Thrustmaster, VINNYSEN, SteelSeries and GAMFAMI
  • Up to 50 on vacuum cleaners and carpet cleaners from brands including Bissell, ECOVACS, Roborock, Philips and Eufy
  • Up to 50 percent on coffee machines from brands including Philips and Delonghi
  • Up to 50 percent on cookware sets from brands including Tefal, Korkmaz and Royalford
  • Up to 60 percent on self-care and beauty items from brands including Nivea, Garnier and J&J
  • Up to 60 percent on perfumes from brands including Davidoff and Calvin Klein 
  • Up to 60 percent on shoes from brands including New Balance, adidas and Puma 
  • Up to 50 percent on watches from brands including Lacoste, Coach and NIBOSI
  • Up to 50 percent on toys including LEGO, Mattel and Barbie Dolls

Additional ways to save this Prime Day:

  • Prime members on using Mastercard and SNB Mastercard cards for Prime Day Sale orders can enjoy additional discounts for eligible purchases, T&Cs apply.
  • Buy-now, pay-later: Prime members on can enjoy hassle-free and affordable shopping during Prime Day with Tabby, offering the convenience of splitting payments into four or six interest-free installments.
  • Bank installments plan: Prime members on will also be able to enjoy zero percent installment plans on their Prime Day orders from a wide range of banks.

Prime Day deliveries 

Fast, free delivery of Prime Day orders is made possible thanks to Amazon’s operations network in Saudi Arabia, which is powered by a combination of innovative technology, optimized transportation services, dedicated employees, and partners, powering same-day and one-day deliveries to customers. With a strong fulfillment network, over 25 owned and third-party delivery stations, and a network of delivery service partners across Saudi Arabia, the company’s advanced last-mile technology enables the Prime delivery promise to customers in Jeddah, Riyadh, Makkah, Madinah, Abha, and Dammam.

Get ready for Prime Day

Prime members across the Kingdom can make their Prime Day shopping experience even easier by downloading the Amazon app to browse, shop, and ensure they never miss a deal or by shopping directly on the website on