UAE Alterra fund of $30 billion
Among the biggest COP-28 pledges, the UAE is offering Alterra, a $30 billion green climate fund. This is different from a typical climate fund; It’s a business plan. Alterra intends to invest in green ventures for profit and is channelling $5 billion to developing countries. It’s a bold foray into contaminated fields, managed by Lunet, with major players like Brookfield and BlackRock on board, betting on their transition to net zero. Altera is causing a stir because of the process and the possibilities—climate benefits and global interest. An interesting twist in the state of climate finance at Cop28.
Clean Energy Momentum: Hawaiian Electric’s Shift from Fossil Fuels to Renewables
Hawaiian Electric is moving forward with plans to retire six old fossil-fuel units and replace them with renewable energy sources as part of a clean-energy transition. This plan, proposed in April and chosen through a competitive procedure regulated by the Public Utilities Commission, represents a transition toward more continuous renewable energy generation. The business aims to replace these ageing generators, some of which date back to 1947, with fuel-flexible units, in line with Hawaii’s goal of achieving 100% renewable energy by 2045. The action emphasises Hawaiian Electric’s dedication to green projects, following past criticism for prioritising its shift to clean energy over fire control efforts, notably in the aftermath of the catastrophic wildfires in Maui in August that took several lives.
Finding hope: Capturing methane to combat global warming
Scientists see methane as a powerful tool for reducing temperature rise in the fight against global warming. Despite its potential, methane’s short life in the atmosphere presents new opportunities. While some sources of methane are difficult to control, experts are excited about new ways to remove the gas directly from the atmosphere. Initial research on bacterial control and product quality is promising. Although small in numbers, nature’s own methane-breaking bacteria offer hope for new solutions. Scientists are trying hard, and every advance brings us one step closer to effectively addressing this important issue.
Underwater Heroes: Divers’ Fight to Save Coral Reefs with Antibiotics
Scuba diving instructor Reginald Beckford and a team of dedicated volunteers are fighting the deadly stony coral tissue loss disease (SCTLD) that has ravaged the region’s coral reefs in the Turks and Caicos Islands. The disease, which affects over 30 coral species, endangers marine ecosystems and local livelihoods. Beckford, formerly afraid of sharks, now applies antibiotic paste to infected corals, a practice that has proven effective in preventing disease spread. The TC Reef Fund, a volunteer-driven NGO, is leading the initiative in partnership with the government’s environment department. The program showcases the life-changing influence of people like Beckford and former teacher Arenthia Baker, who changed jobs to conserve and revitalise coral reefs.
