In formal English we use a clause with there being to introduce a reason for something. There being basically denotes something like ‘because there is’:
There being no evidence against him, Frank is unlikely to be convicted. (= Because there is no evidence against him…)
There being no compelling documentary evidence of the human rights abuses, the country was let off lightly by the United Nations Security Council.
There being no alternative, Adams agreed to mortgage the 20-acre family farm in Cashel.
There being only one train every alternate day to the Balkans, he decided to fly.
There being a slowdown in auto sales, companies were forced to either shut down or axe shifts.
There being no strong objections to the proposal, they went ahead with approving the project.
There being no opposition from local residents, they are all set to organise the music festival in the neighbourhood park.
There being a complete shutdown of the factory, it is thought it will render many a worker jobless.