Sustainable practices could generate $637 billion in value by 2030 for Mena businesses


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Adopting sustainable business policies in the Middle East and North Africa region can generate US$637 billion in economic value and help create 12.4 million jobs by 2030, according to a new study.

The majority of economic benefit will be achieved in the energy and materials sector with $229bn, followed by cities with $183bn, health and well-being with $133bn and food and agriculture by $92bn, according to Better Business, Better World Mena, part of a series of reports first published in January this year.

The report is published by the Business & Sustainable Development Commission, which was launched at the World Economic Forum in Davos in January last year, with the aim of identifying the economic value of the 17 objectives of the 2030 Sustainable Development Goals to companies and how they can contribute to achieving them.

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“As countries in the Middle East and North Africa rise up to open new opportunities for women, welcome refugees and diversify their economies, there remains a long road for the region as a whole to become inclusive and sustainable,” said Mark Malloch-Brown, chair of the Business and Sustainable Development Commission who formerly served as the deputy-secretary of the UN.

"Better Business, Better World MENA shows there is a compelling economic incentive for business and government to accelerate, embracing sustainable solutions and rolling out innovative strategies to ensure that the region exploits fully its potential."

The top five opportunities for unlocking value from the four sectors identified by the report are improved energy efficiency in buildings ($52bn), affordable housing ($50bn), circular models in the automotive industry ($37bn), resource recovery ($33bn), and risk pooling in healthcare ($31 bn).

“The Sustainable Development Goals offer a coherent framework to effectively address fundamental societal challenges,” said Arif Naqvi, group chief executive at Dubai-based private equity firm The Abraaj Group, and commissioner of the Business and Sustainable Development Commission. “The goals are relevant to the Middle East and North Africa where we see a young dynamic population, motivated to seize opportunities and make positive contributions to the wider society.”

Around 12.4 million jobs in the Mena region could be created through business models aligned with the Global Goals. These include: 6 million jobs in developments in urban construction, mobility, and infrastructure, 3 million jobs related to energy and materials, 2.1 million in health and well-being, and more than 1.5 million in food and agriculture.

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While you're here
MATCH INFO

Chelsea 4 (Mount 18',Werner 44', Hudson-Odoi 49', Havertz 85')

Morecambe 0

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Dust and sand storms compared

Sand storm

  • Particle size: Larger, heavier sand grains
  • Visibility: Often dramatic with thick "walls" of sand
  • Duration: Short-lived, typically localised
  • Travel distance: Limited 
  • Source: Open desert areas with strong winds

Dust storm

  • Particle size: Much finer, lightweight particles
  • Visibility: Hazy skies but less intense
  • Duration: Can linger for days
  • Travel distance: Long-range, up to thousands of kilometres
  • Source: Can be carried from distant regions
THE SPECS

Engine: 3.6-litre V6

Transmission: eight-speed automatic

Power: 285bhp

Torque: 353Nm

Price: TBA

On sale: Q2, 2020

At a glance

Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.

 

Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year

 

Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month

 

Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30 

 

Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse

 

Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth

 

Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances

Countries offering golden visas

UK
Innovator Founder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and scale up a new business in the UK. It offers permanent residence after three years.

Germany
Investing or establishing a business in Germany offers you a residence permit, which eventually leads to citizenship. The investment must meet an economic need and you have to have lived in Germany for five years to become a citizen.

Italy
The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.

Switzerland
Residence Programme offers residence to applicants and their families through economic contributions. The applicant must agree to pay an annual lump sum in tax.

Canada
Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence. 

Dubai Bling season three

Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

Rating: 1/5

The Baghdad Clock

Shahad Al Rawi, Oneworld

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills