Last year, the UAE announced its ambitions to cut carbon dioxide emissions by 70 per cent by 2050 and increase clean energy use by 50 per cent. Stephen Lock / The National
Last year, the UAE announced its ambitions to cut carbon dioxide emissions by 70 per cent by 2050 and increase clean energy use by 50 per cent. Stephen Lock / The National

The state of the climate in 2018



For those unable to distinguish weather from climate, the cold weather over the US seems to disprove global warming. Those who want to bury their heads in the sand listen to such flippant asides, while others do the hard work on negotiating climate treaties and deploying low-carbon systems. As the New Year passes, how do we deserve to be graded on our success last year in dealing with this planetary threat?

We have five exam topics to tackle. What is the climate telling us? How are we doing on developing climate policies? What progress is being made on developing and using climate-friendly technologies? Are emissions declining enough? And how about coping with the already-inevitable consequences?

Worldwide, 2017 is set to be the second- or third-hottest year on record, among 2016, 2015 and 2014, which follow in ominous sequence. Sea-level rises are accelerating as Greenland melts.

Rising worldwide temperatures mask more severe local changes. As climate models predict, the Arctic is warming much faster than the world as a whole, heating up more and faster than it has for at least 1500 years. The loss of sea ice may have allowed cold Arctic air to move further south, causing the current US freezing.

The Mediterranean and Levant have been suffering drought, particularly in spring and summer. From 2011 to now, California has been hit by one of its worst recorded dry spells, contributing to worsening wildfires. And the most recent studies suggest that, as carbon dioxide levels in the atmosphere increase, we will get more warming than previously thought. Overall, with climate change proceeding perhaps a little more dangerously than forecast, I will score this 4/10.

Climate negotiations are proceeding along the framework of the Paris Agreement of 2016, though the impending withdrawal of the US casts a cloud. In any case, the provisions of Paris would cut temperature rises by an insufficient 1 degree Celsius by 2100. These provisions are non-binding, and for most countries, very vague. Paris makes some progress on moving away from the failed Kyoto approach of setting targets for cutting emissions with no specifics on how this will be done. The use of a carbon tax has proved its worth in the UK, but is still not inspiring the worldwide adoption it deserves. So, I rank our policy efforts generously at 4/10.

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The brightest spot is on clean energy. Renewable power has become dramatically more competitive, with the UAE and Saudi Arabia leading the way on attracting low-cost solar power, and the countries around the North Sea doing the same for offshore wind. The UK has almost eliminated coal from active power generation plans, while China looks set to have installed 50 gigawatts of solar power in 2017 and has boosted efforts to converting coal heating to gas. Most major car manufacturers are offering electric models.

On the negative side, electric vehicle take-up remains tiny and the worldwide share of fossil fuel electricity has hardly budged. Nuclear power has suffered setbacks with US plants overrunning their costs, while carbon capture and storage has moved ahead but has to accelerate sharply to scale up by 50 times over the next 20 years. So I score our efforts in this area at 7/10 – mostly based on future potential.

After three years of flat global emissions, 2017 will see a rise of about 2 per cent, led by China, with even the EU’s output falling just 0.2 per cent. The atmosphere does not care about clever new technologies and slick green press releases – it cares only about carbon dioxide coming out of chimneys and exhaust pipes. Too many countries have blundered into a “renewables plus coal” energy mix. We need emissions to fall at least 3 by per cent per year, not rise. So our efforts on tangibly reducing greenhouse gases are rated 3/10, on the hope 2017 is a blip.

The hardest thing to grade is our ability to adapt to climate change, as disasters such as wildfires, storms, droughts and floods are likely to become either common or more damaging or both. Texas’s energy complex recovered quite quickly from the 1.5 metres of water that hurricane Harvey dumped on Houston. But neglected Puerto Rico is barely limping back after hurricane Maria: half of customers lack electricity three months later. If this is the case for a US territory, imagine how things would look in Bangladesh.

The response to the refugee crises which engulfed Syria and Libya is not encouraging. Though evidence linking aspects of the Syrian conflict to drought is unclear, it is suggestive and we can expect more vulnerable or misgoverned states to struggle with future climate deterioration. In the face of what should have been a manageable influx, the wealthy EU, US and Australia seek to make themselves into fortresses against migrants. It is not pretty to picture the fallout of a major climatic disaster, the flooding of a fertile delta or drying up of the monsoon. So our climate adaptability gets 2/10.

An overall score of 20/50 is a failing grade on any scale. Good progress in clean energy development needs to combine with better policy to bring down emissions in 2018. In this high-stakes exam, there are no re-takes.

Robin M. Mills is CEO of Qamar Energy, and author of The Myth of the Oil Crisis

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
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A little about CVRL

Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.

One of its main goals is to provide permanent treatment solutions for veterinary related diseases. 

The taxidermy centre was established 12 years ago and is headed by Dr Ulrich Wernery. 

Arctic Monkeys

Tranquillity Base Hotel Casino (Domino) 

 

What are the main cyber security threats?

Cyber crime - This includes fraud, impersonation, scams and deepfake technology, tactics that are increasingly targeting infrastructure and exploiting human vulnerabilities.
Cyber terrorism - Social media platforms are used to spread radical ideologies, misinformation and disinformation, often with the aim of disrupting critical infrastructure such as power grids.
Cyber warfare - Shaped by geopolitical tension, hostile actors seek to infiltrate and compromise national infrastructure, using one country’s systems as a springboard to launch attacks on others.

Know before you go
  • Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
  • If you’re driving, make sure your insurance covers Oman.
  • By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
  • Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
  • Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.

 

ACL Elite (West) - fixtures

Monday, Sept 30

Al Sadd v Esteghlal (8pm)
Persepolis v Pakhtakor (8pm)
Al Wasl v Al Ahli (8pm)
Al Nassr v Al Rayyan (10pm)

Tuesday, Oct 1
Al Hilal v Al Shorta (10pm)
Al Gharafa v Al Ain (10pm)

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The Settlers

Director: Louis Theroux

Starring: Daniella Weiss, Ari Abramowitz

Rating: 5/5

The specs

Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder

Power: 220 and 280 horsepower

Torque: 350 and 360Nm

Transmission: eight-speed automatic

Price: from Dh136,521 VAT and Dh166,464 VAT 

On sale: now

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
MISSION: IMPOSSIBLE – FINAL RECKONING

Director: Christopher McQuarrie

Starring: Tom Cruise, Hayley Atwell, Simon Pegg

Rating: 4/5

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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

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House-hunting

Top 10 locations for inquiries from US house hunters, according to Rightmove

  1. Edinburgh, Scotland 
  2. Westminster, London 
  3. Camden, London 
  4. Glasgow, Scotland 
  5. Islington, London 
  6. Kensington and Chelsea, London 
  7. Highlands, Scotland 
  8. Argyll and Bute, Scotland 
  9. Fife, Scotland 
  10. Tower Hamlets, London 

 

The specs

Engine: four-litre V6 and 3.5-litre V6 twin-turbo

Transmission: six-speed and 10-speed

Power: 271 and 409 horsepower

Torque: 385 and 650Nm

Price: from Dh229,900 to Dh355,000

ICC Women's T20 World Cup Asia Qualifier 2025, Thailand

UAE fixtures
May 9, v Malaysia
May 10, v Qatar
May 13, v Malaysia
May 15, v Qatar
May 18 and 19, semi-finals
May 20, final

Specs

Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request

Specs

Engine: 51.5kW electric motor

Range: 400km

Power: 134bhp

Torque: 175Nm

Price: From Dh98,800

Available: Now

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Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

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How has net migration to UK changed?

The figure was broadly flat immediately before the Covid-19 pandemic, standing at 216,000 in the year to June 2018 and 224,000 in the year to June 2019.

It then dropped to an estimated 111,000 in the year to June 2020 when restrictions introduced during the pandemic limited travel and movement.

The total rose to 254,000 in the year to June 2021, followed by steep jumps to 634,000 in the year to June 2022 and 906,000 in the year to June 2023.

The latest available figure of 728,000 for the 12 months to June 2024 suggests levels are starting to decrease.

How to report a beggar

Abu Dhabi – Call 999 or 8002626 (Aman Service)

Dubai – Call 800243

Sharjah – Call 065632222

Ras Al Khaimah - Call 072053372

Ajman – Call 067401616

Umm Al Quwain – Call 999

Fujairah - Call 092051100 or 092224411

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat