At Cop28, there’s no shortage of sustainability start-ups and companies offering innovative solutions, but Ecoloo stands out from the pack with its odour-free, water-free and sewage-free toilets.
“They call me the loo-king,” said Imad Agi, founder and chief executive of Ecoloo Group, before he shifts to the serious issues his products are designed to resolve.
“Everything starts with the toilet,” he added, referring to the difficulty developing countries face trying to provide and pay for toilet facilities, in terms of installation, plumbing and waste disposal.
He said developing countries "have to go into a lot of debt in order to get just the flush toilets to function”.
Lavatories can also tax the environment, particularly in terms of water use from flushing.
“I’m anti-flushing,” he said. “The regular toilet declares war on water.”
Instead, Ecoloo’s products use a formulated bacterial culture to transform human waste into a safe liquid fertiliser.
Water can and should still be used to sanitise hands, of course, but it isn't required for the Ecoloo toilets to function.
Approximately 60 per cent of the world’s population lacks access to a toilet at home or to a toilet that can safely manage human waste, according to Unicef.
That lack of access can lead to the spread of diseases, such as cholera and hepatitis, that stem from poor sanitation.
Mr Agi said more than 4,000 Ecoloo toilets have been sold in 25 countries.
In the Middle East, Ecoloo sells its products in Bahrain, Jordan and, soon, Saudi Arabia.
It counts the private sector, non-government organisations and governments as customers.
He said Ecoloo is particularly proud of its facility being used in Petra, the Unesco World Heritage Site in Jordan that is one of the seven new wonders of the world.
That location, he said, is a good example of where conventional toilets' plumbing and waste disposal systems could cause major problems.
“It’s a heritage site, you don’t want to create waste or ruin anything with construction there,” he said. “It’s the only toilet approved by Unesco at that site."
Ecoloo's toilets range in price from $1,500 to $3,000, and are made from fibre-reinforced plastic.
“It’s light but it’s very strong - it can last for decades - that’s another sustainability plus,” Mr Agi said.
Ecoloo lists Abu Dhabi clean energy company Masdar and the Mohammed Bin Rashid Innovation Fund as a supporting partner.
Mr Agi founded Sweden-based Ecoloo in 2008, where its first toilet was installed.
He said the business was inspired by a documentary about India that showed the problems caused by the lack of toilets in some parts of the country.
This year is the first time the sustainable toilet company has appeared at a Cop gathering.
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
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.”
Abu Dhabi racecard
5pm: Maiden (Purebred Arabians); Dh80,000; 1,400m.
5.30pm: Maiden (PA); Dh80,00; 1,400m.
6pm: Sheikh Zayed bin Sultan Al Nahyan National Day Cup (PA); Group 3; Dh500,000; 1,600m.
6.30pm: Sheikh Zayed bin Sultan Al Nahyan National Day Cup (Thoroughbred); Listed; Dh380,000; 1,600m
7pm: Wathba Stallions Cup for Private Owners Handicap (PA); Dh70,000; 1,400m.
7.30pm: Handicap (PA); Dh80,000; 1,600m
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
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The specs
Engine: 5.0-litre supercharged V8
Transmission: Eight-speed auto
Power: 575bhp
Torque: 700Nm
Price: Dh554,000
On sale: now
Honeymoonish
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Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law