A strategy has been launched at the Cop16 climate conference in Riyadh to address the consequences of land degradation on food security amid concerns that over-cultivation could result in dwindling crop yields and soaring prices.
The presidency of the UN Convention to Combat Desertification conference – known as Cop16 – launched the Riyadh Action Agenda on Friday to develop a framework to protect the planet's natural resources.
Intensive agriculture can permanently damage the fertility of land and soil, with farmers and communities left to count the cost.
Why is this important?
According to the UNCCD, crop yields could decline by as much as 50 per cent by 2050 and cause food prices to spike by an estimated 30 per cent as a result of land degradation.
That is because agriculture is the main cause of land degradation, with existing agri-food systems playing a significant role in deforestation, greenhouse gas emissions and the loss of biodiversity.
The UNCCD reports that agriculture is responsible for 23 per cent of greenhouse gas emissions, 80 per cent of deforestation, and 70 per cent of global freshwater consumption.
"Around 95 per cent of our food comes from the soil, and yet we continue to treat it like dirt. Unsustainable land management, farming practices and industrial-scale profiteering, are creating a simply unsustainable pace of land degradation, with every year 24 billion tonnes of fertile soil being lost." said Dr Osama Faqeeha, Saudi Arabia's Deputy Minister for Environment, Ministry of Environment, Water and Agriculture, and adviser to the Cop16 Presidency.
"This is a leading cause of global food and water insecurity, impacting everyone from farmers toiling increasingly barren fields, to consumers paying more for essential goods.”
Take for example the impact of cotton production on the Aral Sea, shared by Uzbekistan and Kazakhstan.
Once the world's fourth-largest freshwater lake, it was used for large-scale agriculture irrigation. Decline of the waterbody began in the 1960s and by 2010 the lake had lost 90 per cent of its original size.
Once a 40-metre-deep fishing-scape is now a sandy desert with stranded ships. This impacted the livelihoods and lives of the farmers and communities surrounding the shores of the lake.
On the sidelines of Cop16, researchers from King Abdullah University of Science and Technology (Kaust), published a policy paper, Bending the Curve: A Call to Action on Land Restoration and Sustainability, which outlines a framework for halving degraded land by 2050.
Speaking to The National from Cop16, Professor Fernando Maestre, one of the paper's authors, said the initiative aims to reverse the negative impacts of land degradation, which include increased food insecurity and reduced water resources.
"One of the one of the key policy actions that should be implementing is reducing food waste. We are proposing a very ambitious target of reducing food waste by 75 per cent by 2050," said Prof Maestre.
He told The National that a balance is needed between the initiatives to prevent food waste and those that encourage more sustainable food systems. According to the UN, roughly one third of food produced globally is wasted every year.
"We are wasting food every year, and the cost is approximately over $750 billion per year. Can you imagine if we can recover a fraction of that amount? We can use that money to incentivise farmers to do a more." said Prof Maestre.
The Kaust policy paper has called for synergies across UN Conventions for climate, biodiversity and land to provide joint policy recommendations and oversee implementation – to put food on the table and agendas of governments. This includes establishing an Integrated Conventions Panel to ensure accountability and track progress.
Prof Maestre said that such international collaboration on the global food system will support policy shifts that could transform the way land is farmed and industry is incentivised.
"In Europe, for example, the way that we produce food is mainly driven by the Common Agricultural Policy of the European Union, by subsidy, people plant whatever is paid for," he said.
But Prof Maestre has proposed that instead of subsidising farmers for crops that may not be fully harvested, farmers could be paid for capturing carbon in plots of land that are at risk of being overcultivated.
The specs
Engine: 3.0-litre 6-cyl turbo
Power: 374hp at 5,500-6,500rpm
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Price: from Dh285,000
On sale: from January 2022
COMPANY PROFILE
Name: Lamsa
Founder: Badr Ward
Launched: 2014
Employees: 60
Based: Abu Dhabi
Sector: EdTech
Funding to date: $15 million
NYBL PROFILE
Company name: Nybl
Date started: November 2018
Founder: Noor Alnahhas, Michael LeTan, Hafsa Yazdni, Sufyaan Abdul Haseeb, Waleed Rifaat, Mohammed Shono
Based: Dubai, UAE
Sector: Software Technology / Artificial Intelligence
Initial investment: $500,000
Funding round: Series B (raising $5m)
Partners/Incubators: Dubai Future Accelerators Cohort 4, Dubai Future Accelerators Cohort 6, AI Venture Labs Cohort 1, Microsoft Scale-up
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Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
Schedule:
Sept 15: Bangladesh v Sri Lanka (Dubai)
Sept 16: Pakistan v Qualifier (Dubai)
Sept 17: Sri Lanka v Afghanistan (Abu Dhabi)
Sept 18: India v Qualifier (Dubai)
Sept 19: India v Pakistan (Dubai)
Sept 20: Bangladesh v Afghanistan (Abu Dhabi) Super Four
Sept 21: Group A Winner v Group B Runner-up (Dubai)
Sept 21: Group B Winner v Group A Runner-up (Abu Dhabi)
Sept 23: Group A Winner v Group A Runner-up (Dubai)
Sept 23: Group B Winner v Group B Runner-up (Abu Dhabi)
Sept 25: Group A Winner v Group B Winner (Dubai)
Sept 26: Group A Runner-up v Group B Runner-up (Abu Dhabi)
Sept 28: Final (Dubai)
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.”
Racecard
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Cricket World Cup League 2 Fixtures
Saturday March 5, UAE v Oman, ICC Academy (all matches start at 9.30am)
Sunday March 6, Oman v Namibia, ICC Academy
Tuesday March 8, UAE v Namibia, ICC Academy
Wednesday March 9, UAE v Oman, ICC Academy
Friday March 11, Oman v Namibia, Sharjah Cricket Stadium
Saturday March 12, UAE v Namibia, Sharjah Cricket Stadium
UAE squad
Ahmed Raza (captain), Chirag Suri, Muhammad Waseem, CP Rizwan, Vriitya Aravind, Asif Khan, Basil Hameed, Rohan Mustafa, Kashif Daud, Zahoor Khan, Junaid Siddique, Karthik Meiyappan, Akif Raja, Rahul Bhatia
More from Rashmee Roshan Lall
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
Global state-owned investor ranking by size
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United States
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China
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UAE
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Japan
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5
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Norway
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Canada
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Singapore
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Australia
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Saudi Arabia
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South Korea
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Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
MATCH INFO
Manchester City 3 (Sterling 46', De Bruyne 65', Gundogan 70')
Aston Villa 0
Red card: Fernandinho (Manchester City)
Man of the Match: Raheem Sterling (Manchester City)