Brazil is preparing to assume the presidency of UN climate negotiations at a summit in the Amazon next year. Getty Images
Brazil is preparing to assume the presidency of UN climate negotiations at a summit in the Amazon next year. Getty Images
Brazil is preparing to assume the presidency of UN climate negotiations at a summit in the Amazon next year. Getty Images
Brazil is preparing to assume the presidency of UN climate negotiations at a summit in the Amazon next year. Getty Images

Brazil sets pace in climate sprint - but wants the West to pay


Tim Stickings
  • English
  • Arabic

Brazil announced plans on Wednesday to cut its carbon footprint "far beyond what could be expected" to set the pace at UN climate talks, but told The National it will not join rich countries in financing the world's green efforts.

The home of the Amazon rainforest hopes to to slash emissions by two-thirds compared to 2005 levels within a decade, in a package of green policies including "zero deforestation" handed to UN officials at the Cop29 summit in Azerbaijan.

It makes Brazil one of three countries along with the UAE and Britain to have set a new target before a February deadline. As host of Cop30 next year, Brazil said it wants to be "an example and a major player" as pressure grows on governments to submit bold plans.

Brazil "has gone from denial to leadership and protagonism in fighting climate change," Vice President Geraldo Alckmin said on Wednesday as he unveiled the plans. The 44-page blueprint said they went far beyond "what could be expected based on the country’s historical responsibility for global temperature rise".

Brazil suffered a severe summer drought in the Amazon where it promises a 'zero deforestation' policy as part of its national climate plans. AFP
Brazil suffered a severe summer drought in the Amazon where it promises a 'zero deforestation' policy as part of its national climate plans. AFP

Foreign investors are asked to help pay for Brazil's plans, at a summit where the world is trying to agree a financial package potentially worth more than $1 trillion for poorer countries. The US wants rising economies to start contributing to the bill, reflecting shifts since a UN rulebook were drawn up in 1992.

But asked by The National whether Brazil could also step up a league by paying into global climate funds, Climate Secretary Andre Correa do Lago said it was "very hard to think" that developing countries should start paying when the rich world had fallen short of a previous $100 billion target.

"What we expect is that developed countries establish what the resources are that they will ensure to developing countries," he said. "This is is in a context where developed countries insist there’s a great climate urgency. However, when we talk about resources, climate urgency is not applicable.

"In other words, there’s no urgency in getting resources for developing countries to be able to do away with their climate challenge." He said finance talks were taking place "within the rules" of previous UN texts that say any contributions from developing nations are voluntary.

Brazil's Climate Secretary Andre Correa do Lago said it was up to rich countries to pay for the world's green efforts after they missed a previous $100 billion a year target. Alamy
Brazil's Climate Secretary Andre Correa do Lago said it was up to rich countries to pay for the world's green efforts after they missed a previous $100 billion a year target. Alamy

Under the 194-nation Paris Agreement, there is a shared goal of capping global warming at 1.5°C above pre-industrial levels, but it is up to each country to decide how it will help achieve it with plans known as nationally determined contributions.

All eyes will be on big polluters such as China, India and the US, which may quit the process under Donald Trump's second presidency. The UN warns that even if all existing plans are implemented in full, temperatures would rise 2.6°C by 2100.

With so much at stake, participants in the Cop29 summit in Baku are being intensively lobbied over the contents of what are called NDCs for short. Dr Tedros Adhanom Ghebreyesus, the head of the World Health Organisation, called on Wednesday for the plans leading up to 2035 to have a “strong health focus”.

“Many of you have heard me say that the climate crisis is a health crisis, and I will keep saying it until the message gets through,” Dr Tedros told delegates at Cop29 in Azerbaijan. “Human health is the most compelling argument for climate action, and climate action delivers massive benefits for health.”

Climate activists also want plans submitted by rich countries such as the US, Britain, and EU members to include financial pledges to address their “climate debt”, said Rachel Jackson of lobby group Corporate Accountability. “We would be looking for commitments to actively do no harm, make reparations and repair harm in all aspects of climate action,” she told The National. It is hoped that the new financial pledge being negotiated in Baku could allow developing countries to set more ambitious goals

Cop29 in Azerbaijan – in pictures

  • Participants at the Cop29 venue in Baku, Azerbaijan. Reuters
    Participants at the Cop29 venue in Baku, Azerbaijan. Reuters
  • Jochen Flasbarth, State Secretary in the German Ministry for Economic Co-operation and Development, speaks in the Germany pavilion. Getty Images
    Jochen Flasbarth, State Secretary in the German Ministry for Economic Co-operation and Development, speaks in the Germany pavilion. Getty Images
  • Nuclear power activists demonstrate. AP
    Nuclear power activists demonstrate. AP
  • Activists hold a protest calling on developed nations to provide financing. Reuters
    Activists hold a protest calling on developed nations to provide financing. Reuters
  • An activist holds up a sign. Reuters
    An activist holds up a sign. Reuters
  • Conference participants arrive on day four. Getty Images
    Conference participants arrive on day four. Getty Images
  • Another protest. Reuters
    Another protest. Reuters
  • From left, Jorge Perez, Rolando Escobar, Miguel Vasquez and Esteban Cama at a session on Indigenous communities in the Peruvian Amazon. AP
    From left, Jorge Perez, Rolando Escobar, Miguel Vasquez and Esteban Cama at a session on Indigenous communities in the Peruvian Amazon. AP
  • President Sheikh Mohamed attends the World Leaders Climate Action Summit at Cop29, in Azerbaijan's capital Baku. UAE Presidential Court
    President Sheikh Mohamed attends the World Leaders Climate Action Summit at Cop29, in Azerbaijan's capital Baku. UAE Presidential Court
  • Sheikh Mohamed greets Recep Tayyip Erdogan, President of Turkey. WAM
    Sheikh Mohamed greets Recep Tayyip Erdogan, President of Turkey. WAM
  • British Prime Minister Keir Starmer at Cop29. Bloomberg
    British Prime Minister Keir Starmer at Cop29. Bloomberg
  • Ding Xuexiang, China's first Vice Premier, at Cop29. Bloomberg
    Ding Xuexiang, China's first Vice Premier, at Cop29. Bloomberg
  • Hungary's Prime Minister Viktor Orban at a plenary session at Cop29. AP
    Hungary's Prime Minister Viktor Orban at a plenary session at Cop29. AP
  • Sudan's military leader Abdel Fattah Al Burhan, at Cop29. Bloomberg
    Sudan's military leader Abdel Fattah Al Burhan, at Cop29. Bloomberg
  • World leaders pose for a group photo at the Cop29 United Nations Climate Change Conference, in Baku, Azerbaijan. AP
    World leaders pose for a group photo at the Cop29 United Nations Climate Change Conference, in Baku, Azerbaijan. AP
  • Hungarian Prime Minister Viktor Orban, left, stands next to Turkish President Recep Tayyip Erdogan. Reuters
    Hungarian Prime Minister Viktor Orban, left, stands next to Turkish President Recep Tayyip Erdogan. Reuters
  • Antonio Guterres, UN secretary-general, addresses Cop29. Bloomberg
    Antonio Guterres, UN secretary-general, addresses Cop29. Bloomberg
  • Azerbaijan's President Ilham Aliyev speaks during the Cop29 opening ceremony. Reuters
    Azerbaijan's President Ilham Aliyev speaks during the Cop29 opening ceremony. Reuters
  • Rafael Grossi, director general of International Atomic Energy Agency (IAEA), at Cop29. Bloomberg
    Rafael Grossi, director general of International Atomic Energy Agency (IAEA), at Cop29. Bloomberg
  • Activists demonstrate for climate justice and a ceasefire in the Israel-Hamas war in Gaza, on day one of Cop29. AP
    Activists demonstrate for climate justice and a ceasefire in the Israel-Hamas war in Gaza, on day one of Cop29. AP
  • Cop28 President Dr Sultan Al Jaber and Cop29 President Mukhtar Babayev at the official handover. AFP
    Cop28 President Dr Sultan Al Jaber and Cop29 President Mukhtar Babayev at the official handover. AFP
  • Dr Al Jaber, Minister of Industry and Advanced Technology, delivers a speech during the opening of Cop29 in Baku. AFP
    Dr Al Jaber, Minister of Industry and Advanced Technology, delivers a speech during the opening of Cop29 in Baku. AFP
  • Mr Babayev speaks during the opening plenary session. AP
    Mr Babayev speaks during the opening plenary session. AP
  • An installation depicting a beached whale by the Belgian art collective Captain Boomer on an embankment in Baku. EPA
    An installation depicting a beached whale by the Belgian art collective Captain Boomer on an embankment in Baku. EPA
  • The Turkey Solidarity Centre pavilion. Bloomberg
    The Turkey Solidarity Centre pavilion. Bloomberg
  • Simon Stiell, executive secretary of the UN Framework Convention on Climate Change, speaks during the opening ceremony. EPA
    Simon Stiell, executive secretary of the UN Framework Convention on Climate Change, speaks during the opening ceremony. EPA
  • People begin arriving for the start of Cop29 in Baku. Bloomberg
    People begin arriving for the start of Cop29 in Baku. Bloomberg
  • Dr Al Jaber at Cop29 with Moroccan climate researcher Cherif El Khalil. AP
    Dr Al Jaber at Cop29 with Moroccan climate researcher Cherif El Khalil. AP
  • A mosaic adorns a wall at the Cop29 venue, Baku Stadium, in the capital of Azerbaijan. Bloomberg
    A mosaic adorns a wall at the Cop29 venue, Baku Stadium, in the capital of Azerbaijan. Bloomberg
  • A woman tries out a VR headset at the tourism booth as the Cop29 UN climate summit gets under way in Baku, Azerbaijan. AP
    A woman tries out a VR headset at the tourism booth as the Cop29 UN climate summit gets under way in Baku, Azerbaijan. AP

The UAE's new plan sets a target of cutting emissions 47 per cent in the next decade from a 2019 baseline, picking up the pace from a previous 40 per cent target. Countries are asked to draw on what was agreed in Dubai last year, such as a pledge to treble renewable energy, in preparing their new national plans. UN Secretary General Antonio Guterres told an event on Africa that the new plans “must contribute to the global energy transition goals agreed at Cop28".

Britain was second to name a figure, as Prime Minister Keir Starmer announced from the Baku podium that the UK will aim to cut emissions 81 per cent from 1990 levels by 2035. He said his Labour government was determined to “seize the opportunities of tomorrow”. The UK's top negotiator in Baku, Energy Secretary Ed Miliband, said the aim was to “encourage others to show ambition” with a plan based on clean electricity, better-insulated homes, heat pumps and cutting air pollution.

Campaigners are awaiting more details on sector-by-sector targets. Tim Wainwright, the head of charity Water Aid, said Britain should put more money into preparing for extreme weather globally “if Keir Starmer is serious about showing climate leadership”.

Brazil's Environment Minister Marina Silva described the plan unveiled in Baku as "a new paradigm for the socio-economic development of our country". She said the sums of money to be provided to the developing world "have to be of the order of trillions".

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Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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.”

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UFC Fight Night 2

1am – Early prelims

2am – Prelims

4am-7am – Main card

7:30am-9am – press cons

Match info

UAE v Bolivia, Friday, 6.25pm, Maktoum bin Rashid Stadium, Dubai

Indoor cricket in a nutshell

Indoor Cricket World Cup - Sep 16-20, Insportz, Dubai

16 Indoor cricket matches are 16 overs per side

8 There are eight players per team

There have been nine Indoor Cricket World Cups for men. Australia have won every one.

5 Five runs are deducted from the score when a wickets falls

Batsmen bat in pairs, facing four overs per partnership

Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.

Zones

A Front net, behind the striker and wicketkeeper: 0 runs

B Side nets, between the striker and halfway down the pitch: 1 run

Side nets between halfway and the bowlers end: 2 runs

Back net: 4 runs on the bounce, 6 runs on the full

Company profile

Name: Dukkantek 

Started: January 2021 

Founders: Sanad Yaghi, Ali Al Sayegh and Shadi Joulani 

Based: UAE 

Number of employees: 140 

Sector: B2B Vertical SaaS(software as a service) 

Investment: $5.2 million 

Funding stage: Seed round 

Investors: Global Founders Capital, Colle Capital Partners, Wamda Capital, Plug and Play, Comma Capital, Nowais Capital, Annex Investments and AMK Investment Office  

Brief scores:

​​​​​​Toss: Pakhtunkhwa Zalmi, chose to field

​Environment Agency: 193-3 (20 ov)
Ikhlaq 76 not out, Khaliya 58, Ahsan 55

Pakhtunkhwa Zalmi: 194-2 (18.3 ov)
Afridi 95 not out, Sajid 55, Rizwan 36 not out

Result: Pakhtunkhwa won by 8 wickets

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

WOMAN AND CHILD

Director: Saeed Roustaee

Starring: Parinaz Izadyar, Payman Maadi

Rating: 4/5

The stats

Ship name: MSC Bellissima

Ship class: Meraviglia Class

Delivery date: February 27, 2019

Gross tonnage: 171,598 GT

Passenger capacity: 5,686

Crew members: 1,536

Number of cabins: 2,217

Length: 315.3 metres

Maximum speed: 22.7 knots (42kph)

ENGLAND SQUAD

Eoin Morgan (captain), Moeen Ali, Jonny Bairstow, Sam Billings, Jos Buttler, Tom Curran, Alex Hales, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, David Willey, Chris Woakes, Mark Wood

Personalities on the Plate: The Lives and Minds of Animals We Eat

Barbara J King, University of Chicago Press 

Most%20polluted%20cities%20in%20the%20Middle%20East
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MOST%20POLLUTED%20COUNTRIES%20IN%20THE%20WORLD
%3Cp%3E1.%20Chad%3Cbr%3E2.%20Iraq%3Cbr%3E3.%20Pakistan%3Cbr%3E4.%20Bahrain%3Cbr%3E5.%20Bangladesh%3Cbr%3E6.%20Burkina%20Faso%3Cbr%3E7.%20Kuwait%3Cbr%3E8.%20India%3Cbr%3E9.%20Egypt%3Cbr%3E10.%20Tajikistan%3Cbr%3E%3Cbr%3E%3Cem%3ESource%3A%202022%20World%20Air%20Quality%20Report%3C%2Fem%3E%3C%2Fp%3E%0A
Dubai World Cup Carnival card

6.30pm: UAE 1000 Guineas Trial Conditions (TB) US$100,000 (Dirt) 1,400m

7.05pm: Handicap (TB) $135,000 (Turf) 1,000m

7.40pm: Handicap (TB) $175,000 (D) 1,900m

8.15pm: Meydan Challenge Listed Handicap (TB) $175,000 (T) 1,400m

8.50pm: Dubai Stakes Group 3 (TB) $200,000 (D) 1,200m

9.25pm: Dubai Racing Club Classic Listed Handicap (TB) $175,000 (T) 2,410m

The National selections

6.30pm: Final Song

7.05pm: Pocket Dynamo

7.40pm: Dubai Icon

8.15pm: Dubai Legacy

8.50pm: Drafted

9.25pm: Lucius Tiberius

Libya's Gold

UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves. 

The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.

Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.

A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.

Info

What: 11th edition of the Mubadala World Tennis Championship

When: December 27-29, 2018

Confirmed: men: Novak Djokovic, Rafael Nadal, Kevin Anderson, Dominic Thiem, Hyeon Chung, Karen Khachanov; women: Venus Williams

Tickets: www.ticketmaster.ae, Virgin megastores or call 800 86 823

South Africa squad

: Faf du Plessis (captain), Hashim Amla, Temba Bavuma, Quinton de Kock (wkt), Theunis de Bruyn, AB de Villiers, Dean Elgar, Heinrich Klaasen (wkt), Keshav Maharaj, Aiden Markram, Morne Morkel, Chris Morris, Wiaan Mulder, Lungi Ngidi, Duanne Olivier, Vernon Philander and Kagiso Rabada.

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

Read part one: how cars came to the UAE

The National Archives, Abu Dhabi

Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.

Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en

INFO
The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

THE LIGHT

Director: Tom Tykwer

Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger

Rating: 3/5

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Updated: November 13, 2024, 3:57 PM