Slums in India are sprayed to prevent mosquitoes spreading disease. Health chiefs warn a hotter planet could have severe health effects such as increased illness. EPA
Slums in India are sprayed to prevent mosquitoes spreading disease. Health chiefs warn a hotter planet could have severe health effects such as increased illness. EPA
Slums in India are sprayed to prevent mosquitoes spreading disease. Health chiefs warn a hotter planet could have severe health effects such as increased illness. EPA
Slums in India are sprayed to prevent mosquitoes spreading disease. Health chiefs warn a hotter planet could have severe health effects such as increased illness. EPA

UAE invited to join group tackling climate effects on health


Tim Stickings
  • English
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The UAE has been asked to join a group of five countries leading a charge for climate policies that protect people's health.

Azerbaijan has proposed a health-focused "continuity coalition" of nations that have recently staged or will soon host a UN climate summit. It could be launched at Cop29 in Baku in November, with the UAE, Britain, Egypt and Brazil as the other members.

The World Health Organisation could also play a role. The group would build on a first-ever day of health-focused talks at Cop28 in the UAE, where more than 100 countries pledged to tackle issues cutting across climate and health policy such as pollution and pandemic risks.

Health chiefs warn that diseases such as malaria may flourish on a warmer planet, while floods and droughts are a threat to food and nutrition. Equally, they say cutting pollution to protect the planet will have knock-on benefits for health.

A second health day will take place during Cop29, where health ministers have been invited for talks on cities, resilience and development. But Azerbaijan says it wants to "encourage future Cops to continue this topic".

The Emirates has been invited to join the 'continuity coalition' as one of the five countries to host a UN climate summit between 2021 and 2025. Pawan Singh / The National
The Emirates has been invited to join the 'continuity coalition' as one of the five countries to host a UN climate summit between 2021 and 2025. Pawan Singh / The National

Health talks should be made "more efficient at a global level" after each country launched its own initiatives as summit host, said Elmar Mammadov, who leads Cop29's Action Agenda Team. The new coalition is "one of the legacies we will create" from the Baku summit, he added.

It is envisaged by Azerbaijan that a steering committee of the five countries would meet regularly to prepare for Cop summits. It could also meet during the annual World Health Assembly, which typically takes place in Geneva in May.

Maria Neira, a WHO director, said the coming talks would provide a "strong platform to ensure that the work of the Cops will be maintained". The UN agency has lobbied climate policymakers to put a greater emphasis on health.

Britain's Cop26 team oversaw the creation of an Alliance for Action on Climate Change and Health (ATACH), while the UAE talks brought hundreds of millions of dollars' worth of pledges to help eradicate tropical diseases.

The 123-nation UAE Declaration on Climate and Health called for a "comprehensive response to address the impacts of climate change on health", including in specific areas such as hygiene, nutrition and disease surveillance.

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Al Derwaza

For the fish hubul, regag bread, biryani and special seafood soup. 

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Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

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1 Adam Yates (GBR) Mitchelton-Scott 4:42:33

2 Tadej Pocagar (SLO) UAE Team Emirates 0:01:03

3 Alexey Lutsenko (KAZ) Astana 0:01:30

4 David Gaudu (FRA) Groupama-FDJ

5 Rafal Majka (POL) Bora-Hansgrohe         

6 Diego Ulissi (ITA) UAE Team Emirates  0:01:56

General Classification after Stage 3:

1 Adam Yates (GBR) Mitchelton-Scott 12:30:02

2 Tadej Pocagar (SLO) UAE Team Emirates 0:01:07

3  Alexey Lutsenko (KAZ) Astana 0:01:35

4 David Gaudu (FRA) Groupama-FDJ 0:01:40

5  Rafal Majka (POL) Bora-Hansgrohe

6 Wilco Kelderman (NED) Team Sunweb)  0:02:06

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Founded 50 years ago as a nuclear research institute, scientists at the centre believed nuclear would be the “solution for everything”.
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Dubai Police has also issued a list of banned items at the ground on Sunday. These include:
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Zabeel Park
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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.”

Updated: September 12, 2024, 4:08 PM