This year is on track to be the hottest on record according to the World Meteorological Organisation. Getty Images
This year is on track to be the hottest on record according to the World Meteorological Organisation. Getty Images
This year is on track to be the hottest on record according to the World Meteorological Organisation. Getty Images
This year is on track to be the hottest on record according to the World Meteorological Organisation. Getty Images

Degrees of separation: Why 1.5°C of global warming needs to be a 'hard limit'


Rachel Kelly
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The main goal of Cop29 in Baku, Azerbaijan, was to keep the global temperature increase to no more than 1.5°C above pre-industrial levels. If this is not achieved, experts warn it could signal the difference between extinction and survival for some communities.

While a dystopian future akin to Kevin Costner’s Waterworld or Mel Gibson’s Mad Max films may not be immediately on the horizon, scientists say that glimpses of what is to come have already been experienced in not only the increase in the number of natural disasters, but in the severity of disasters taking place around the globe.

In the UAE, for example, scientists say the floods that affected Dubai in April this year were exacerbated by climate change.

In the US, according to the National Centres for Environmental Information, there have been 24 confirmed climate disaster events with losses exceeding $1 billion each this year. That is almost three times the average number of 8.5 events from 1980 to 2023.

This year is on track to be the hottest on record and, in its latest climate statement, the World Meteorological Organisation issued a red alert to highlight that 2015-2024 will be the warmest 10 years in history.

The UN has also warned that if new nationally determined plans are not ambitious enough to rein in greenhouse gas emissions, and if measures are not immediately implemented, the world is on track for a temperature increase of 2.6°C to 3.1°C.

Although negotiations were complex and far-reaching at what has been dubbed the finance Cop, the Paris Agreement – the target agreed upon by 196 parties at Cop21 in Paris in 2015 – still loomed large.

The UN says annual greenhouse gas emission reductions of 42 per cent are needed by 2030 and 57 per cent by 2035 to get on track to 1.5°C. However, on the sidelines of Cop29, new research was published by the Global Carbon Project’s science team showing global carbon emissions from fossil fuels reached a record high in 2024.

Glaciers could lose as much as 80 per cent of volume on the current trajectory by the end of this century. Unsplash
Glaciers could lose as much as 80 per cent of volume on the current trajectory by the end of this century. Unsplash

Catastrophic consequences

Dr Susana Hancock is the global mountains director at International Cryosphere Climate Initiative, a platform that works to elevate the voices of scientists and local communities from Arctic and mountain regions to reach governments, non-profits, and international forums.

Cryosphere refers to ice, snow and permafrost regions, as well as both polar oceans. Dr Hancock told The National that these areas are going to be lost due to global warming and – while what is happening up in the mountains may seem distant – what happens in the cryosphere does not stay in the cryosphere, and reaches communities and ecosystems around the planet.

She said: “1.5°C really needs to be a hard limit, and it's not an arbitrary number. It is based on science, and what we're seeing in the Arctic and the cryosphere. The glaciated cold regions of the world, mountains, and the Himalayas, the Andes, the Alps, 1.5°C isn't safe. And certainly anything higher that is really not safe.”

By the end of the century, she said, glaciers could lose as much as 80 per cent of volume on the current trajectory – and if the needle is moved from 1.5°C to 2.5°C, the results would be catastrophic.

“We're seeing situations that are getting increasingly dire, and really feel that 2°C, is not a safe environment for this part of the world,” said Dr Hancock.

What does 2°C, 2.5°C, or even 3°C look like?

In a passionate plea earlier this year, UN Secretary General Antonio Guterres said the difference between 1.5°C and 2°C could be the difference between extinction and survival for some small island states and coastal communities.

Developing nations are calling for trillions in climate finance to combat climate chaos. According to the Intergovernmental Panel on Climate Change, developing countries have 15 times more victims of natural disasters than developed nations.

Scientists say further escalation in temperatures will result in the collapse of the Greenland Ice Sheet and the West Antarctic Ice Sheet, followed by catastrophic sea level rises.

In the US alone, almost 30 per cent of the population live in coastal areas, where rising sea levels play a role in flooding, shoreline erosion and hazards from storms. Globally, eight of the world’s 10 largest cities are near a coast, according to the UN Atlas of the Oceans.

Almost half of the world’s population lives in regions that are highly vulnerable. IPCC
Almost half of the world’s population lives in regions that are highly vulnerable. IPCC

According to the latest IPCC Synthesis Report, with every increment of global warming, regional changes in the average global climate and extremes become more widespread and pronounced.

“Almost half of the world’s population lives in regions that are highly vulnerable to climate change,” said Aditi Mukherji, one of the 93 authors of IPCC Synthesis Report. “In the last decade, deaths from floods, droughts and storms were 15 times higher in highly vulnerable regions.”

Further temperature increases would mean a rise in inland and coastal flooding. More displacement of citizens around the globe will also affect physical water availability and agricultural production.

“Communities which tend to live in river valleys due to irrigation and agriculture don't have alerts that there's a flood coming, and it can wipe out an entire village. That's an example of something that we're going to be seeing increasingly over the coming years and decades,” Dr Hancock said.

Pakistan Super League

Previous winners

2016 Islamabad United

2017 Peshawar Zalmi

2018 Islamabad United

2019 Quetta Gladiators

 

Most runs Kamran Akmal – 1,286

Most wickets Wahab Riaz –65

What is the definition of an SME?

SMEs in the UAE are defined by the number of employees, annual turnover and sector. For example, a “small company” in the services industry has six to 50 employees with a turnover of more than Dh2 million up to Dh20m, while in the manufacturing industry the requirements are 10 to 100 employees with a turnover of more than Dh3m up to Dh50m, according to Dubai SME, an agency of the Department of Economic Development.

A “medium-sized company” can either have staff of 51 to 200 employees or 101 to 250 employees, and a turnover less than or equal to Dh200m or Dh250m, again depending on whether the business is in the trading, manufacturing or services sectors. 

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How to register as a donor

1) Organ donors can register on the Hayat app, run by the Ministry of Health and Prevention

2) There are about 11,000 patients in the country in need of organ transplants

3) People must be over 21. Emiratis and residents can register. 

4) The campaign uses the hashtag  #donate_hope

Emergency

Director: Kangana Ranaut

Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

Rating: 2/5

The specs: 2018 Mercedes-Benz E 300 Cabriolet

Price, base / as tested: Dh275,250 / Dh328,465

Engine: 2.0-litre four-cylinder

Power: 245hp @ 5,500rpm

Torque: 370Nm @ 1,300rpm

Transmission: Nine-speed automatic

Fuel consumption, combined: 7.0L / 100km

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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MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

GOLF’S RAHMBO

- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)

About RuPay

A homegrown card payment scheme launched by the National Payments Corporation of India and backed by the Reserve Bank of India, the country’s central bank

RuPay process payments between banks and merchants for purchases made with credit or debit cards

It has grown rapidly in India and competes with global payment network firms like MasterCard and Visa.

In India, it can be used at ATMs, for online payments and variations of the card can be used to pay for bus, metro charges, road toll payments

The name blends two words rupee and payment

Some advantages of the network include lower processing fees and transaction costs

 

 

Updated: November 22, 2024, 6:00 PM