Live updates: Follow the latest news on Cop28
Indigenous leaders at Cop28 have urged governments and corporations to protect their rights and land as the demand for metals to power green technology soars.
There has been a scramble around the world for mines and minerals, which are needed to make electric car batteries and other energy equipment, amid a shift towards green and sustainable solutions to tackle climate change.
This has resulted in indigenous communities being displaced from areas they have called home for centuries, to make way for mining operations.
Cultural Survival, a 50-year-old non-profit that is dedicated to defending the human rights of indigenous people, has aired concerns over the future of lands that have cultural and spiritual significance.
non-profit organisation
In an open letter published on Friday, the group called for action to be taken by delegates attending Cop28 in Dubai.
“We urge governments and corporations to respect, protect and fulfil indigenous peoples' rights, to ensure equitable and responsible environmental and social practices on our lands,” the statement read.
“We have ancestral, cultural and spiritual ties to our lands that not only require our participation in climate advocacy but also call us to commit to the proper stewardship practices of nature that are deeply rooted in our ways of life.”
Cultural Survival represents indigenous communities in Asia, Africa, South America, North America and Australia, many of which are among those most affected by the growing climate challenge and demand for land.
The group said that indigenous leaders are pursuing and championing clean energy and transportation solutions on their territories that align with their self-determined needs and goals.
But that these solutions should be “acknowledged, recognised, promoted and funded by states and private entities.”
Cultural Survival said a legacy of exploitation has been left on many indigenous communities who have historically seen land seized for oil, gas and mining operations.
Mineral demand

At least 30 energy transition minerals and metals (ETMs) form the material base for the renewable energy transition, with lithium, cobalt, nickel and copper underpinning green industries.
Clean energy such as solar panels, wind turbines and batteries used in electric vehicles all require substantial natural materials to build and maintain.
A study by the Centre for Social Responsibility in Mining at the University of Melbourne found more than half of all energy transition materials were found on, or close to, indigenous peoples’ lands.
Protocols under the UN Declaration on the Rights of Indigenous Peoples encourage open consultations and negotiations on mining activities, with the final say on operations given to local communities.
“We will not back down from our role as leaders in the fight for climate action and clean energy,” Cultural Survival said.
“Cop28 must be the foundation for governments around the world to build on this momentum and take the urgent steps needed to secure Indigenous Peoples’ self-determination.
“We believe it is an opportunity to define a better and more inclusive world that serves all communities and all peoples – transcending the boundaries of concentrated political and economic power.”
French business
France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.
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THE BIG THREE
NOVAK DJOKOVIC
19 grand slam singles titles
Wimbledon: 5 (2011, 14, 15, 18, 19)
French Open: 2 (2016, 21)
US Open: 3 (2011, 15, 18)
Australian Open: 9 (2008, 11, 12, 13, 15, 16, 19, 20, 21)
Prize money: $150m
ROGER FEDERER
20 grand slam singles titles
Wimbledon: 8 (2003, 04, 05, 06, 07, 09, 12, 17)
French Open: 1 (2009)
US Open: 5 (2004, 05, 06, 07, 08)
Australian Open: 6 (2004, 06, 07, 10, 17, 18)
Prize money: $130m
RAFAEL NADAL
20 grand slam singles titles
Wimbledon: 2 (2008, 10)
French Open: 13 (2005, 06, 07, 08, 10, 11, 12, 13, 14, 17, 18, 19, 20)
US Open: 4 (2010, 13, 17, 19)
Australian Open: 1 (2009)
Prize money: $125m
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More than 2.2 million Indian tourists arrived in UAE in 2023
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Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
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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.”
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2012 Beat Andy Murray
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5pm: arrival at the Rome / Ciampino International Airport


