Although a milestone announcement on loss and damage was agreed upon at Cop27 in Sharm El Sheikh, the event has been seen by some as disappointing in terms of efforts to limit emissions. AFP
Although a milestone announcement on loss and damage was agreed upon at Cop27 in Sharm El Sheikh, the event has been seen by some as disappointing in terms of efforts to limit emissions. AFP
Although a milestone announcement on loss and damage was agreed upon at Cop27 in Sharm El Sheikh, the event has been seen by some as disappointing in terms of efforts to limit emissions. AFP
Although a milestone announcement on loss and damage was agreed upon at Cop27 in Sharm El Sheikh, the event has been seen by some as disappointing in terms of efforts to limit emissions. AFP

Cop28's success will depend on curbing global temperature increases, analysts say


Daniel Bardsley
  • English
  • Arabic

Climate change experts have said that Cop28 in the UAE will be crucial if progress is to be made in limiting global temperature rises.

While a milestone announcement on loss and damage compensation was agreed upon at Cop27 in Egypt, more could have been done in terms of efforts to limit greenhouse gas emissions, some analysts said.

An absence of progress on previous commitments to phase down coal, and what have been described as loopholes that allow the exploitation of new gas resources, are among the issues climate advocates have highlighted.

The experts say this makes the 28th Conference of the Parties, scheduled to run for about two weeks at Expo City Dubai in November 2023, all the more important.

The emissions curve, which keeps going up and up and up, has to be bent downwards and there’s no real progress in bending it downwards
Asher Minns,
Tyndall Centre for Climate Change Research

Niklas Hoehne, founder of the NewClimate Institute for Climate Policy and Global Sustainability, a think tank in Germany, said Cop27 had shown little progress compared to Cop26, which was staged in Glasgow, Scotland late last year.

“With Glasgow, the UK presidency did a big effort to get countries on board; they made a big diplomatic initiative,” Mr Hoehne said.

“They [brought in] initiatives for coal phase-out and gas, which committed to a significant step forward. This year, the Egyptian presidency did none of this and nothing happened with mitigation. There are no new proposals.”

Looking to Cop28

As a result, he said Cop28, to be held under the presidency of the UAE, was all the more important if there was not going to be backsliding on efforts to stem global temperature rises.

“Glasgow was a small step, but we need that step each year at each climate conference. This has not happened this year but it definitely needs to happen next year.”

Echoing this, Bob Ward, of the Grantham Research Institute on Climate Change and the Environment, part of the London School of Economics, said that any ambition to take significant measures to reduce carbon emissions “is just not there at the moment”.

  • The Kuwait Towers are shrouded amid a sandstorm. The world has seen more extreme weather in the past decade, with the Gulf witnessing cyclones, flooding and extreme heat. EPA
    The Kuwait Towers are shrouded amid a sandstorm. The world has seen more extreme weather in the past decade, with the Gulf witnessing cyclones, flooding and extreme heat. EPA
  • A formerly sunken boat sits upright on the shore of Lake Mead, Nevada, where water levels have dropped. EPA
    A formerly sunken boat sits upright on the shore of Lake Mead, Nevada, where water levels have dropped. EPA
  • Homes surrounded by floodwater in Pakistan's south-western Baluchistan province earlier this year. AP Photo
    Homes surrounded by floodwater in Pakistan's south-western Baluchistan province earlier this year. AP Photo
  • Steam rises from a coal-fired power plant near Grevenbroich, Germany. AP Photo
    Steam rises from a coal-fired power plant near Grevenbroich, Germany. AP Photo
  • Activists display prints replicating solar panels during a rally to mark Earth Day in Washington. AP Photo
    Activists display prints replicating solar panels during a rally to mark Earth Day in Washington. AP Photo
  • A glacier, which has lost most of its ice in the past few years, on Mount Zugspitze, Germany. AP Photo
    A glacier, which has lost most of its ice in the past few years, on Mount Zugspitze, Germany. AP Photo
  • A bucket wheel excavator mining coal at an open-cast mine in Luetzerath, Germany. AP Photo
    A bucket wheel excavator mining coal at an open-cast mine in Luetzerath, Germany. AP Photo
  • Climate activists form a human chain spelling out '100% renewable', at Cop21 in Paris in 2015. AP
    Climate activists form a human chain spelling out '100% renewable', at Cop21 in Paris in 2015. AP
  • US president George W Bush and first lady Barbara Bush sign a pledge to protect the Earth in Rio de Janeiro in 1992. AP Photo
    US president George W Bush and first lady Barbara Bush sign a pledge to protect the Earth in Rio de Janeiro in 1992. AP Photo
  • Extinction Rebellion activists holds placards at Cop26 last year in Glasgow, Scotland. AP Photo
    Extinction Rebellion activists holds placards at Cop26 last year in Glasgow, Scotland. AP Photo
  • Demonstrators hold banners calling for a reduction in greenhouse gas emissions in Kyoto, Japan, in 1997. AP Photo
    Demonstrators hold banners calling for a reduction in greenhouse gas emissions in Kyoto, Japan, in 1997. AP Photo
  • An artwork entitled 'One Heart One Tree' by Naziha Mestaoui is displayed on the Eiffel Tower before the 2015 Paris climate conference. AP Photo
    An artwork entitled 'One Heart One Tree' by Naziha Mestaoui is displayed on the Eiffel Tower before the 2015 Paris climate conference. AP Photo
  • A woman works at a coal depot in Ahmedabad, India, in May. AP Photo
    A woman works at a coal depot in Ahmedabad, India, in May. AP Photo
  • Plastic waste on the banks of the Nile in Cairo in September. AP Photo
    Plastic waste on the banks of the Nile in Cairo in September. AP Photo
  • Steam rises from a coal-fired power plant Niederaussem, Germany. AP Photo
    Steam rises from a coal-fired power plant Niederaussem, Germany. AP Photo
  • Lake Poopo, home to the Uru Murato indigenous community in Bolivia, has largely become a desert. AFP
    Lake Poopo, home to the Uru Murato indigenous community in Bolivia, has largely become a desert. AFP
  • US firefighters battle a blaze near Los Alamos, New Mexico, in 2011. AP Photo
    US firefighters battle a blaze near Los Alamos, New Mexico, in 2011. AP Photo
  • Cars on motorway in Frankfurt, Germany. Vehicle emissions are a contributor to climate change. AP Photo
    Cars on motorway in Frankfurt, Germany. Vehicle emissions are a contributor to climate change. AP Photo
  • The rapidly drying marshes of Chibayish in Iraq's southern Dhi Qar province. AFP
    The rapidly drying marshes of Chibayish in Iraq's southern Dhi Qar province. AFP

“At Cop26 it was agreed the countries would come back with stronger pledges from emitting countries in line with 1.5°C. That’s not happened,” he said.

“The window is closing fast. To be honest, I don’t think there’s much prospect of staying below 1.5°C. They’ll have to shift to a conversation about how to get back to 1.5°C, having gone past it, not just at Cop28, but in the coming 12 months.”

At Cop28 in Dubai, Mr Ward said he hoped that nations would “confront” the fact that the burning of fossil fuels was central to climate change and that more ambitious efforts would be made to reach net zero. He warned that “short-term” interests were being prioritised.

1.5°C warning

As the first global stocktake of national commitments since the Paris Agreement, which was agreed in 2015 with the aim of limiting average temperature rises to 1.5°C, Cop28 is seen as particularly important.

Because of this, Mr Ward said the run-up to the event would be significant in terms of countries strengthening their efforts to reduce the release of greenhouse gases.

“This is the first of the stocktaking under the Paris Agreement,” he said. “But we already know that it’s going to show that action isn’t strong enough.

“The question really is what countries do over the next 12 months to avoid the stocktaking showing we’re just not doing enough.”

While the agreement to set up a dedicated fund to support nations suffering loss and damage was part of the final deal at Cop27, Mr Ward said there were issues about this which needed to be clarified in Dubai.

Loss and damage uncertainty

“There’s no [announcement] on how much and when it will start operating,” Mr Ward said. “This needs to be discussed over the next year and agreed at Cop28.”

Asher Minns, executive director for the Tyndall Centre for Climate Change Research at the University of East Anglia in the UK, said that the loss and damage principle of “the polluter pays” was essential, but Cop28 should not become “bogged down” on the question of how much rich countries should pay.

Nor, he said, must the making of loss and damage payments be regarded as an excuse by countries to continue to emit greenhouse gases.

“From Glasgow last year, emission reductions were going to be discussed every year. They weren’t really discussed this year, so for next year that has to be the big topic for the agenda,” he said.

“The emissions curve, which keeps going up and up and up, has to be bent downwards and there’s no real progress in bending it downwards.”

Company%20profile
%3Cp%3EName%3A%20Tabby%3Cbr%3EFounded%3A%20August%202019%3B%20platform%20went%20live%20in%20February%202020%3Cbr%3EFounder%2FCEO%3A%20Hosam%20Arab%2C%20co-founder%3A%20Daniil%20Barkalov%3Cbr%3EBased%3A%20Dubai%2C%20UAE%3Cbr%3ESector%3A%20Payments%3Cbr%3ESize%3A%2040-50%20employees%3Cbr%3EStage%3A%20Series%20A%3Cbr%3EInvestors%3A%20Arbor%20Ventures%2C%20Mubadala%20Capital%2C%20Wamda%20Capital%2C%20STV%2C%20Raed%20Ventures%2C%20Global%20Founders%20Capital%2C%20JIMCO%2C%20Global%20Ventures%2C%20Venture%20Souq%2C%20Outliers%20VC%2C%20MSA%20Capital%2C%20HOF%20and%20AB%20Accelerator.%3Cbr%3E%3C%2Fp%3E%0A
Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

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
In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013 

Ant-Man%20and%20the%20Wasp%3A%20Quantumania
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EPeyton%20Reed%3Cbr%3E%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Paul%20Rudd%2C%20Evangeline%20Lilly%2C%20Jonathan%20Majors%3Cbr%3E%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2%2F5%3C%2Fp%3E%0A
The specs

Engine: 3-litre twin-turbo V6

Power: 400hp

Torque: 475Nm

Transmission: 9-speed automatic

Price: From Dh215,900

On sale: Now

Day 2, Dubai Test: At a glance

Moment of the day Pakistan’s effort in the field had hints of shambles about it. The wheels were officially off when Wahab Riaz lost his run up and aborted the delivery four times in a row. He re-measured his run, jogged in for two practice goes. Then, when he was finally ready to go, he bailed out again. It was a total cringefest.

Stat of the day – 139.5 Yasir Shah has bowled 139.5 overs in three innings so far in this Test series. Judged by his returns, the workload has not withered him. He has 14 wickets so far, and became history’s first spinner to take five-wickets in an innings in five consecutive Tests. Not bad for someone whose fitness was in question before the series.

The verdict Stranger things have happened, but it is going to take something extraordinary for Pakistan to keep their undefeated record in Test series in the UAE in tact from this position. At least Shan Masood and Sami Aslam have made a positive start to the salvage effort.

KINGDOM%20OF%20THE%20PLANET%20OF%20THE%20APES
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Wes%20Ball%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Owen%20Teague%2C%20Freya%20Allen%2C%20Kevin%20Durand%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3.5%2F5%3C%2Fp%3E%0A

Top 5 concerns globally:

1. Unemployment

2. Spread of infectious diseases

3. Fiscal crises

4. Cyber attacks

5. Profound social instability

Top 5 concerns in the Mena region

1. Energy price shock

2. Fiscal crises

3. Spread of infectious diseases

4. Unmanageable inflation

5. Cyber attacks

Source: World Economic Foundation

The specs
Engine: 4.0-litre flat-six
Power: 510hp at 9,000rpm
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Price: From Dh801,800
HOW TO WATCH

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Law%2041.9.4%20of%20men%E2%80%99s%20T20I%20playing%20conditions
%3Cp%3EThe%20fielding%20side%20shall%20be%20ready%20to%20start%20each%20over%20within%2060%20seconds%20of%20the%20previous%20over%20being%20completed.%0D%3Cbr%3EAn%20electronic%20clock%20will%20be%20displayed%20at%20the%20ground%20that%20counts%20down%20seconds%20from%2060%20to%20zero.%0D%3Cbr%3EThe%20clock%20is%20not%20required%20or%2C%20if%20already%20started%2C%20can%20be%20cancelled%20if%3A%0D%3Cbr%3E%E2%80%A2%09A%20new%20batter%20comes%20to%20the%20wicket%20between%20overs.%0D%3Cbr%3E%E2%80%A2%09An%20official%20drinks%20interval%20has%20been%20called.%0D%3Cbr%3E%E2%80%A2%09The%20umpires%20have%20approved%20the%20on%20field%20treatment%20of%20an%20injury%20to%20a%20batter%20or%20fielder.%0D%3Cbr%3E%E2%80%A2%09The%20time%20lost%20is%20for%20any%20circumstances%20beyond%20the%20control%20of%20the%20fielding%20side.%0D%3Cbr%3E%E2%80%A2%09The%20third%20umpire%20starts%20the%20clock%20either%20when%20the%20ball%20has%20become%20dead%20at%20the%20end%20of%20the%20previous%20over%2C%20or%20a%20review%20has%20been%20completed.%0D%3Cbr%3E%E2%80%A2%09The%20team%20gets%20two%20warnings%20if%20they%20are%20not%20ready%20to%20start%20overs%20after%20the%20clock%20reaches%20zero.%0D%3Cbr%3E%E2%80%A2%09On%20the%20third%20and%20any%20subsequent%20occasion%20in%20an%20innings%2C%20the%20bowler%E2%80%99s%20end%20umpire%20awards%20five%20runs.%0D%3Cbr%3E%3C%2Fp%3E%0A
The specs: 2018 Nissan 370Z Nismo

The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
​​​​​​​Fuel consumption, combined: 10.5L / 100km

What are the GCSE grade equivalents?
 
  • Grade 9 = above an A*
  • Grade 8 = between grades A* and A
  • Grade 7 = grade A
  • Grade 6 = just above a grade B
  • Grade 5 = between grades B and C
  • Grade 4 = grade C
  • Grade 3 = between grades D and E
  • Grade 2 = between grades E and F
  • Grade 1 = between grades F and G

The Outsider

Stephen King, Penguin

The specs

Engine: 6.2-litre supercharged V8

Power: 712hp at 6,100rpm

Torque: 881Nm at 4,800rpm

Transmission: 8-speed auto

Fuel consumption: 19.6 l/100km

Price: Dh380,000

On sale: now 

UAE tour of the Netherlands

UAE squad: Rohan Mustafa (captain), Shaiman Anwar, Ghulam Shabber, Mohammed Qasim, Rameez Shahzad, Mohammed Usman, Adnan Mufti, Chirag Suri, Ahmed Raza, Imran Haider, Mohammed Naveed, Amjad Javed, Zahoor Khan, Qadeer Ahmed
Fixtures:
Monday, 1st 50-over match
Wednesday, 2nd 50-over match
Thursday, 3rd 50-over match

Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EEmonovo%20(previously%20Marj3)%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ECairo%0D%3Cbr%3E%3Cstrong%3ELaunch%20year%3A%20%3C%2Fstrong%3E2016%0D%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%20%3C%2Fstrong%3E12%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3Eeducation%20technology%0D%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3Ethree%20rounds%2C%20undisclosed%20amount%3C%2Fp%3E%0A

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

Company: Eighty6 

Date started: October 2021 

Founders: Abdul Kader Saadi and Anwar Nusseibeh 

Based: Dubai, UAE 

Sector: Hospitality 

Size: 25 employees 

Funding stage: Pre-series A 

Investment: $1 million 

Investors: Seed funding, angel investors  

Sui Dhaaga: Made in India

Director: Sharat Katariya

Starring: Varun Dhawan, Anushka Sharma, Raghubir Yadav

3.5/5

Fanney Khan

Producer: T-Series, Anil Kapoor Productions, ROMP, Prerna Arora

Director: Atul Manjrekar

Cast: Anil Kapoor, Aishwarya Rai, Rajkummar Rao, Pihu Sand

Rating: 2/5 

Updated: January 12, 2023, 6:28 AM