Dr Amna Al Shamsi has said young people must be central to the climate debate. Photo: Ministry of Education
Dr Amna Al Shamsi has said young people must be central to the climate debate. Photo: Ministry of Education
Dr Amna Al Shamsi has said young people must be central to the climate debate. Photo: Ministry of Education
Dr Amna Al Shamsi has said young people must be central to the climate debate. Photo: Ministry of Education

Young people urged to be catalysts for global climate action


Anam Rizvi
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The UAE is to give young people a platform at the Cop28 summit to help tackle the global climate crisis.

Dr Amna Al Shamsi, assistant undersecretary of the care and capacity building sector at the Ministry of Education, said the next generation should be at the heart of the debate – because they would face the consequences if the world failed to find solutions to climate change.

Cop28 is holding a series of events on Friday to mark Youth Day, which focuses on the role of young people in championing sustainability.

“Youth are the ones who are going to inherit this planet and they are going to either suffer from the consequences of what we do or they will be enjoying the fruits of the actions and the solutions that we push forward towards,” Dr Al Shamsi said.

“They are the ones who are going to be driving that change and they are the ones who are going to be providing those solutions.

"In this, unlike any other Cop, the participation of youth has been very significant. The participation of youth started in previous Cops, but there is a lot of focus on it [at this Cop].”

Environmental education is viewed as key to promoting green mindsets in future generations. AP
Environmental education is viewed as key to promoting green mindsets in future generations. AP

Green vision for the future

The Ministry of Education's Greening Education Hub at Cop28 aims to highlight how education can mitigate climate change.

The hub, which will host more than 250 sessions and workshops during the summit, attracted more than 18,000 visitors in its first week.

The UAE this year launched the Green Education Partnership Roadmap, in co-operation with Unesco and Unicef, in preparation for Cop28.

A ministry initiative, the “net-zero heroes”, led to 35 students from countries including the Emirates being trained by Unicef. “We're going to continue to push the children's voices forward,” Dr Al Shamsi said.

“There is a long-term plan to ensure that these students work as advocates for climate change and climate education, and disseminate this knowledge and skills among their communities and schools.

“This will create a butterfly effect where we want the children to be the real champions to advocate for climate awareness and climate action.”

Learning lessons on climate change

Austin Alexander, vice president of sustainability and social impact at global water technology company Xylem, attended Cop28 and spoke of the importance of giving young people the right role models.

“Often, youth are not asked to have their voice at the table in any serious way when we're talking about climate. Even in solutions to solve climate change, it is incredibly important,” Ms Alexander said.

“One of our 2025 sustainability goals is to educate 15 million youth on water challenges around the world. We're trying to bring their innovative minds and voices into how we develop the next set of technology.”

She said Xylem was working with Premier League football club Manchester City to boost young people's interest in water issues.

“We just released a video with Pep Guardiola, manager of Manchester City, which is a fun way to engage with youth by bringing in some of their favourite sports teams, talking about water issues,” Ms Alexander said.

“That's something that kids are talking and thinking about outside the classroom. So, to hear from others on these important issues, we think is really powerful.

“Youth engagement is one of the core pillars of our sustainability and social impact work as a company.

“Our goal is to create ambassadors or activists on water that are out in their community, because when youth care about these issues, that really spurs change in other areas.”

Xylem employees are encouraged to volunteer in schools to improve water education in communities. On Friday, the company will announce a partnership with the World Bank on their Water Innovators Challenge, which helps to bring youth into technology innovation. They are looking to fast-track scalable solutions to water challenges.

In October, the Ministry of Education joined forces with the Abdulla Al Ghurair Foundation to focus on sustainability, climate action and educating young people on the impact of climate change.

The foundation has organised climate action and sustainability-focused workshops and boot camps combining the environment and entrepreneurship.

In the “eco-preneurship boot camp”, adults aged between 18 and 35 learnt about creating businesses that solve climate issues. Winning teams had their ideas showcased at Cop28, with one team to be selected to receive long-term advice and support after Cop28.

“The youth’s voice is critical and it needs to be welcomed and leveraged because they are inheriting critical issues and global challenges that are going to require collective efforts,” said Sonia Ben Jaafar, chief executive of Al Ghurair Foundation.

“If we don't do our jobs, the education sector will not have the tool kits to be able to articulate intelligently and innovate with regards to this. We want them to be involved, from the grass roots to the higher levels, and we want to see impactful practical solutions.”

Cop28 – in pictures

  • President Sheikh Mohamed and UN Secretary General Antonio Guterres hold a meeting at the Cop28 summit in Dubai. Photo: UAE Presidential Court
    President Sheikh Mohamed and UN Secretary General Antonio Guterres hold a meeting at the Cop28 summit in Dubai. Photo: UAE Presidential Court
  • Participants walk among flagpoles on day four of the Cop28 summit in Dubai. Getty Images
    Participants walk among flagpoles on day four of the Cop28 summit in Dubai. Getty Images
  • Britain's former prime minister Tony Blair at the summit. AP
    Britain's former prime minister Tony Blair at the summit. AP
  • Joseph Vipond from the Canadian Association of Physicians for the Environment crosses the Blue Zone. Getty Images
    Joseph Vipond from the Canadian Association of Physicians for the Environment crosses the Blue Zone. Getty Images
  • David Miliband, president and chief executive of the International Rescue Committee, addresses a session at Cop28. Getty Images
    David Miliband, president and chief executive of the International Rescue Committee, addresses a session at Cop28. Getty Images
  • Delegates are photographed in the Blue Zone on the fourth day of Cop28. Pawan Singh / The National
    Delegates are photographed in the Blue Zone on the fourth day of Cop28. Pawan Singh / The National
  • Participants walk at Expo City Dubai. EPA
    Participants walk at Expo City Dubai. EPA
  • Sheikh Abdullah bin Zayed, Minister of Foreign Affairs, Microsoft co-founder Bill Gates, Tanzanian President Samia Hassan and Reem Al Hashimy, Minister of State for International Co-operation, attend the Reaching the Last Mile Forum held alongside Cop28. Reuters
    Sheikh Abdullah bin Zayed, Minister of Foreign Affairs, Microsoft co-founder Bill Gates, Tanzanian President Samia Hassan and Reem Al Hashimy, Minister of State for International Co-operation, attend the Reaching the Last Mile Forum held alongside Cop28. Reuters
  • Cop28 visitors ride a train in the Green Zone at Expo City Dubai. Pawan Singh / The National
    Cop28 visitors ride a train in the Green Zone at Expo City Dubai. Pawan Singh / The National
  • Visitors in the Green Zone at Expo City Dubai. Pawan Singh / The National
    Visitors in the Green Zone at Expo City Dubai. Pawan Singh / The National
  • Visitors ride an electric cart in the Green Zone. Pawan Singh / The National
    Visitors ride an electric cart in the Green Zone. Pawan Singh / The National
  • Located in the Sustainability District, the Green Zone will host a wide variety of events and workshops until the final day of Cop28 on December 12. Pawan Singh / The National
    Located in the Sustainability District, the Green Zone will host a wide variety of events and workshops until the final day of Cop28 on December 12. Pawan Singh / The National
  • Visitors at the water feature in the Green Zone. Pawan Singh / The National
    Visitors at the water feature in the Green Zone. Pawan Singh / The National
  • Members of the public ride electric scooters in the Green Zone. Khushnum Bhandari / The National
    Members of the public ride electric scooters in the Green Zone. Khushnum Bhandari / The National
  • People arrive for the fourth day of the Cop28 summit at Expo City Dubai. EPA
    People arrive for the fourth day of the Cop28 summit at Expo City Dubai. EPA
  • A welcome sign at the Cop28 venue. AP
    A welcome sign at the Cop28 venue. AP
  • People walk through the site near Al Wasl Dome. AP
    People walk through the site near Al Wasl Dome. AP
  • Eleni Myrivili, global chief heat officer at UN Habitat, with former US secretary of state Hillary Clinton and Indian social worker Reema Nanavaty at the Resilience Hub. AP
    Eleni Myrivili, global chief heat officer at UN Habitat, with former US secretary of state Hillary Clinton and Indian social worker Reema Nanavaty at the Resilience Hub. AP
  • Al Gore, environmentalist and former US vice president, presents the Climate Trace global greenhouse gases emissions database on day four of Cop28. Getty Images
    Al Gore, environmentalist and former US vice president, presents the Climate Trace global greenhouse gases emissions database on day four of Cop28. Getty Images
  • Elizabeth Yee and John Kerry, US Special Presidential Envoy for Climate, at a session at the US Centre. AP
    Elizabeth Yee and John Kerry, US Special Presidential Envoy for Climate, at a session at the US Centre. AP
  • About 200 countries are taking part in the Cop28 talks. Khushnum Bhandari / The National
    About 200 countries are taking part in the Cop28 talks. Khushnum Bhandari / The National
  • Pope Francis records a video message to be broadcast during the inauguration of the Faith Pavilion, at Casa Santa Marta, in the Vatican. Reuters
    Pope Francis records a video message to be broadcast during the inauguration of the Faith Pavilion, at Casa Santa Marta, in the Vatican. Reuters
  • Dr Tedros Ghebreyesus, Director General of the World Health Organisation, speaks at the Health Day opening session. Getty Images
    Dr Tedros Ghebreyesus, Director General of the World Health Organisation, speaks at the Health Day opening session. Getty Images
  • Attendees arrive at the Cop28 summit. AP
    Attendees arrive at the Cop28 summit. AP
  • The Voice Action hub for peaceful protesters at Cop28, Expo City, Dubai. Khushnum Bhandari / The National
    The Voice Action hub for peaceful protesters at Cop28, Expo City, Dubai. Khushnum Bhandari / The National
  • The Expo City farm, which will remain in operation after Cop28 ends. Khushnum Bhandari / The National
    The Expo City farm, which will remain in operation after Cop28 ends. Khushnum Bhandari / The National
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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.”

Updated: December 08, 2023, 10:51 AM