Global temperatures in 2024 could outstrip last year’s record, the World Meteorological Organisation has warned.
The UN weather agency said 2023 was the hottest on record by a “large margin”, with average temperatures approaching 1.5°C above pre-industrial levels.
Analysis by WMO of six international data sets found that the annual average global temperature in 2023 was warmer by 1.45°C, with a variance of plus or minus 0.12°C, than the period before people started burning fossil fuels.
It came days after the release of similar data by the EU's Earth observation programme Copernicus.
It found the global average temperature throughout the year was 14.98°C, overtaking 2016, the previous warmest year, by “a large margin”.
The temperature was 1.48°C warmer than the 1850-1900 pre-industrial level, it said.
New temperature records were set every month between June and December, with July and August being the hottest.
“Climate change is the biggest challenge that humanity faces. It is affecting all of us, especially the most vulnerable,” said WMO secretary general Prof Celeste Saulo.
“We cannot afford to wait any longer. We are already taking action but we have to do more and we have to do it quickly. We have to make drastic reductions in greenhouse gas emissions and accelerate the transition to renewable energy sources.
“The shift from cooling La Nina to warming El Nino by the middle of 2023 is clearly reflected in the rise in temperature from last year. Given that El Nino usually has the biggest impact on global temperatures after it peaks, 2024 could be even hotter,” she said.
She said while El Nino events come and go from one year to the next, longer-term climate change is escalating due to human activities.
“The climate crisis is worsening the inequality crisis. It affects all aspects of sustainable development and undermines efforts to tackle poverty, hunger, ill-health, displacement and environmental degradation,” said Prof Saulo, an Argentine who took up the post on January 1.
Since the 1980s, each decade has been hotter than the previous one. And each of the nine past years have been the warmest on record, with 2016, which witnessed a strong El Nino, and 2020 being the hottest.
UN Secretary General Antonio Guterres said humanity’s actions were “scorching the earth”.
“2023 was a mere preview of the catastrophic future that awaits if we don’t act now. We must respond to record-breaking temperature rises with path-breaking action,” he said.
“We can still avoid the worst of climate catastrophe. But only if we act now with the ambition required to limit the rise in global temperature to 1.5ºC and deliver climate justice.”
2023 confirmed as hottest year on record – in pictures
WMO’s provisional State of the Global Climate in 2023 report, published on 30 November, showed records were broken across the board – from atmospheric greenhouse gas concentrations, ocean heat and acidification, sea level, sea ice extent and glacier mass balance.
Sea surface temperatures were exceptionally high for months, fuelled by damaging marine heatwaves, while Antarctic sea ice extent was the lowest on record.
The year was marked by extreme heat on land too, resulting in intense rainfall, floods and rapidly intensifying tropical cyclones which left a trail of destruction, death and huge economic losses.
WMO will issue its final State of the Global Climate 2023 report in March. This will include details on the socio-economic effects on food security, displacement and health.
The Paris Agreement seeks to hold the increase in the global average temperature to well below 2°C above pre-industrial levels, while pursuing efforts to limit the temperature increase to 1.5°C.
The Intergovernmental Panel on Climate Change says that climate-related risks for natural and human systems are higher for global warming of 1.5°C than at present, but lower than at 2°C.
13 of the hottest places on the planet – in pictures
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
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)
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
3%20Body%20Problem
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if you go
The flights
Etihad, Emirates and Singapore Airlines fly direct from the UAE to Singapore from Dh2,265 return including taxes. The flight takes about 7 hours.
The hotel
Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.
The tour
Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to www.woknstroll.com.sg
Infobox
Western Region Asia Cup Qualifier, Al Amerat, Oman
The two finalists advance to the next stage of qualifying, in Malaysia in August
Results
UAE beat Iran by 10 wickets
Kuwait beat Saudi Arabia by eight wickets
Oman beat Bahrain by nine wickets
Qatar beat Maldives by 106 runs
Monday fixtures
UAE v Kuwait, Iran v Saudi Arabia, Oman v Qatar, Maldives v Bahrain
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.”
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
SPECS
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