Students from Zayed University taking part in a Cop28 Simulation Model said the youth-led conference represents the optimism of Emirati youth.
The UN-backed conference brings together students from all over the world to a mock Cop28, which provides them with a platform to share practical solutions for climate action.
The Cop28 simulation was launched in collaboration with the British University in Egypt, the United Nations Development Programme (UNDP) and Zayed University. It's in its second edition and consists of three stages.
We are at a state where our world needs to change
Salama Sultan Alshamsi,
21, Zayed University
About 65 residents and citizens from the UAE were selected to take part, with 29 students from Zayed University.
The first stage, which took place between September 30 and October 15, was an online building programme that focused on climate literacy, where participants were assigned topics and research projects in a two-week period.
The second stage, taking place this week at the British University in Egypt, requires students to simulate real-world climate negotiations by taking on the roles of country delegates and chief negotiators.
The third stage will be held at Cop28 in Dubai's Expo City in December where students will be presented with their results.
The programme attracted more than 3,000 applications from around the world, and students were chosen based on their grade point average, language skills, community involvement, awareness of climate issues and social activities.
Moza Salem Alharrasi, 19, who studies environmental science and sustainability at Zayed University, was one of 160 students chosen to take part.
She told The National that she was excited to engage in discussions and negotiations during the second stage of the simulation in Cairo.
"It represents the spirit of optimism of every Emirati youth," she said.
"It's a chance to collaborate with others in finding practical solutions to the pressing global issue of climate change."
Another student, Salama Sultan Alshamsi, said the role of youth fighting climate change is important.
"We are at a state where our world needs to change," the 21-year-old said.
"What better way than by the newer generations growing and fighting, as well as coming together to share ideas and fight for what is needed to maintain and solve the problems we face."
Mahra Almazrouei, 21, who studies international relations, said she was particularly excited to be taking part in the second stage in Egypt this week, which concludes on Sunday.
"I can't wait to reunite with the students I connected with during the capacity-building sessions," she said, ahead of the activities.
"The organising team for the simulation has been exceptionally supportive, professional and well organised."
Dr Suzanna El Massah, professor of economics and sustainability at Zayed University's College of Interdisciplinary Studies and project manager of the Cop28 Simulation Model, said many of her former students who took part in last year's simulation have gone on to become successful public figures fighting for climate action.
"Three Emirati students and three international students that took part in the simulation last year are completely different people from how they were before the simulation. They are now public figures," she told The National.
"The simulation paves the way for normal people living their lives to find ways to implement climate action and to also understand what the big names are discussing.
"We expect these students to become the decision-makers and leaders of the future by simulating what actual high-level people from different countries are negotiating about."
Expo City to host Cop28 – in pictures
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
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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
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A Prayer Before Dawn
Director: Jean-Stephane Sauvaire
Starring: Joe Cole, Somluck Kamsing, Panya Yimmumphai
Three stars
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
If you go...
Fly from Dubai or Abu Dhabi to Chiang Mai in Thailand, via Bangkok, before taking a five-hour bus ride across the Laos border to Huay Xai. The land border crossing at Huay Xai is a well-trodden route, meaning entry is swift, though travellers should be aware of visa requirements for both countries.
Flights from Dubai start at Dh4,000 return with Emirates, while Etihad flights from Abu Dhabi start at Dh2,000. Local buses can be booked in Chiang Mai from around Dh50
RedCrow Intelligence Company Profile
Started: 2016
Founders: Hussein Nasser Eddin, Laila Akel, Tayeb Akel
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# of staff: 13
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On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
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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.”