Cop28 pact boosts climate funding for war zone recovery


Damien McElroy
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Cop28 Presidency officials proclaimed a breakthrough for climate-focused support of war zone and fragile states on Sunday, as 70 countries backed a pact on funding for relief and recovery.

Reem Al Hashimy, UAE Minister of State for International Co-operation, launched the Cop28 Declaration on Relief, Recovery and Peace at the summit, where she said peace-building and climate should be on the agenda at every UN climate meeting.

An official in the Cop28 Presidency told reporters that the issues covered in the documents included measures to allow countries to donate quickly to stricken countries.

The backers had reached agreement in areas where consensus in more deadlocked parts of the UN, such as the Security Council, had not been possible.

Among the total of 70 countries that signed up to the pact, which was forged in talks that involved hundreds of organisations in fragile states, dozens had already made specific commitments to new support for failing or low-income states.

Alongside the Relief declaration the Presidency also issued a “Getting Ahead of Disasters Charter” that seeks to build resilience among vulnerable nations to climate-related risks, allowing greater protections to be put in place.

Dave McQueen, head of programme partnerships for Cop28, said support for the measure was broader than expected at the outset and spanned both front-line states as well as major powers

“We were very pleased by the diversity of support from small islands in the Pacific and African countries, in the Horn of Africa and in the Sahel, who have traditionally been the voices behind this topic, and then a broader swath of countries, major countries like China and the US and development finance providers,” he said.

The adviser added the signatories had committed to ensure fragile states are not shut out of international financing.

“And in today's session, a number of the big banks, the donors, the governments themselves, also described the actions that they would take to close the [funding] gap, which could be everything from making procurement easier to building capacity so that governments can receive can absorb and disperse climate money.”

Speaking about the aims of the declaration, Majid Al Suwaidi, the Cop28 director general, cited his recent visit to Kenya where a cross-border refugee camp for the war displaced only had diesel pumps for arterial water supplies. He suggested solar pumps would address both climate pressures and the fundamental needs of the residents.

“People living in extremely fragile states receive a fraction – up to 80 times less – of climate finance compared to those in non-fragile states,” he said.

“The Cop28 Presidency is committed to driving action and consensus to change this.”

International organisations embraced the declaration for recognising that climate challenges in failing states needed a new framework to ensure humanitarian assistance and development aid could start flowing to address local needs.

“Ten years ago you would not have seen organisations such as the World Food Programme, the UN Office for the Co-ordination of Humanitarian Affairs or the International Committee of the Red Cross participate in an international climate change conference,” said Gernot Laganda, climate director of the World Food Programme.

“As a global community, we are only as resilient as our most vulnerable members, people who are trapped in extremely fragile contexts, which are the most vulnerable and risky places to live.”

The initial package of financial, programming and partnerships solutions was also welcomed by the charity Mercy Corps, as it called for donors and investors to raise risk appetites for interventions in warring hotspots.

“Prioritising communities in fragile contexts for climate finance is impossible without a shift in risk appetite of donors for investing in these context,” said Adrianna Hardaway, Mercy Corps senior policy adviser for Climate and Water Security.

“While we recognise the challenges donors face in increasing their risk appetite, we would have liked to see explicit references to this in the declaration.”

Yemeni youth campaigner Ruqia Abdullah spoke at Cop28
Yemeni youth campaigner Ruqia Abdullah spoke at Cop28

Ruqia Abdullah, a Cop28 International Youth Climate delegate from Yemen told the Cop28 summit on Sunday to deliver for Middle East countries like her homeland where 70 per cent of people don't have enough to eat.

“Our generation is the most impacted [by climate change] and we're not seriously addressing the climate issues that we're facing now,” she said.

“I'm here not to present only my voice, but I'm presenting and carrying hopes and fears of my generation. We’re afraid of a future that may be trying to steal our peace.”

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

Freezer tips

  • Always make sure food is completely cool before freezing.
  • If you’re cooking in large batches, divide into either family-sized or individual portions to freeze.
  • Ensure the food is well wrapped in foil or cling film. Even better, store in fully sealable, labelled containers or zip-lock freezer bags.
  • The easiest and safest way to defrost items such as the stews and sauces mentioned is to do so in the fridge for several hours or overnight.
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

UAE v Gibraltar

What: International friendly

When: 7pm kick off

Where: Rugby Park, Dubai Sports City

Admission: Free

Online: The match will be broadcast live on Dubai Exiles’ Facebook page

UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)

Other simple ideas for sushi rice dishes

Cheat’s nigiri 
This is easier to make than sushi rolls. With damp hands, form the cooled rice into small tablet shapes. Place slices of fresh, raw salmon, mackerel or trout (or smoked salmon) lightly touched with wasabi, then press, wasabi side-down, onto the rice. Serve with soy sauce and pickled ginger.

Easy omurice
This fusion dish combines Asian fried rice with a western omelette. To make, fry cooked and cooled sushi rice with chopped vegetables such as carrot and onion and lashings of sweet-tangy ketchup, then wrap in a soft egg omelette.

Deconstructed sushi salad platter 
This makes a great, fuss-free sharing meal. Arrange sushi rice on a platter or board, then fill the space with all your favourite sushi ingredients (edamame beans, cooked prawns or tuna, tempura veggies, pickled ginger and chilli tofu), with a dressing or dipping sauce on the side.

 

 

Key products and UAE prices

iPhone XS
With a 5.8-inch screen, it will be an advance version of the iPhone X. It will be dual sim and comes with better battery life, a faster processor and better camera. A new gold colour will be available.
Price: Dh4,229

iPhone XS Max
It is expected to be a grander version of the iPhone X with a 6.5-inch screen; an inch bigger than the screen of the iPhone 8 Plus.
Price: Dh4,649

iPhone XR
A low-cost version of the iPhone X with a 6.1-inch screen, it is expected to attract mass attention. According to industry experts, it is likely to have aluminium edges instead of stainless steel.
Price: Dh3,179

Apple Watch Series 4
More comprehensive health device with edge-to-edge displays that are more than 30 per cent bigger than displays on current models.

What vitamins do we know are beneficial for living in the UAE

Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.

Four reasons global stock markets are falling right now

There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest:

1. Rising US interest rates

The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year.

Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. “With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs.”

At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end.

2. Stronger dollar

High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. “Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets.” 

3. Global trade war

Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trump’s spat with China will escalate into a full-blown global trade war, with both sides suffering. “The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock picker’s market.”

4. Eurozone uncertainty

Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy.

Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line.”

The European economy may also be slowing, Mr Beauchamp warns. “A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.”

2019 ASIAN CUP FINAL

Japan v Qatar
Friday, 6pm
Zayed Sports City Stadium, Abu Dhabi

Updated: December 04, 2023, 4:16 AM