Sobering food documentaries such as Netflix’s Rotten point to an Armageddon of our global food supply, crippled by climate change, crime and corruption. But academics, entrepreneurs and policymakers from the agritech and food sectors, who attended In the Future, What will we Eat, an online food summit hosted by the UK Pavilion at Expo 2020 Dubai on Thursday, made room for optimism.
Our “farm-to-fork menus” can look the same in 2050, they said, if we’re willing to adapt our consumer behaviour.
One meaty paradox lay at the heart of discussions: how do we feed the world without destroying the planet?
The problem of food waste
The global food sector is under pressure to produce more in the next 50 years than it did in the past 500, to nourish a projected global population of 11 billion by 2050.
Perhaps the most unpalatable injustice highlighted by the summit was that more than twice the amount of food is being produced to feed the entire world’s population, while 870 million people go hungry, pointing to the crux of the sustainability issue: food waste.
A United Nations report stated that 931 million tonnes of food was wasted in 2019 at the consumer level, that is waste attributed to individual households.
The solutions
Waste not …
An obvious solution is that, when it comes to waste reduction, we, as laypeople, are huge players. “Saving waste is a trillion-dollar opportunity,” said Ignacio Ramirez, operations manager at Winnow Solutions Mena. “Every dollar saved on waste equates to fourteen dollars saved on investment. Becoming more sustainable does not cost more, it’s simply better for everyone.”
Mining data
All 25 speakers at the UK Pavilion summit agreed the future of sustainable food production will rely largely on data collection and in translating that information to empower those on the ground. John McElhone, co-founder of agritech company CropSafe, said that a mere 1 per cent increase in food production by the 500 million farms globally would feed millions more.
“We’ve gone from horse-drawn carts to self-driven tractors in 100 years. Technology means farmers don’t need to walk the land to identify issues. That information can be collected in less than one second using satellites, probes, drones and digital cameras.”
And empowered by intelligent data analysis, farmers of the future will become “green magicians”, said Dr Stephen Christie, chairman and chief executive of data science and machine learning company Agxio.
Yet another agritech start-up is replacing big tractors with small robots. Ben Scott-Robinson of the Small Robot Company said that two crops produce 70 per cent of what we eat: wheat and maize. “Most UK farms aren’t profitable today without subsidies. Yields have flatlined as [mechanised] systems are inefficient.”
Smart plants
A change-maker in Dubai is the non-profit agricultural research centre ICBA, where drones and research have been used since 1999 to solve the problem of soil and water salinity in harsh environments across the Middle East and North Africa. Research since 2022 on the humble date palm has shown that crop yield and taste can be improved using saline water irrigation.
Visitors to Expo 2020 Dubai can see this process in action at The Desert Farm where “smart” plants such as Salicornia (sea beans) and quinoa are shown to thrive on saltwater, and scientists work on turning deserts into farmland for grazing animals and to curb deforestation.
A partner of Madar Farms in Abu Dhabi, IGS, or Intelligent Growth Solutions, has been identified by The Economist as one of the 15 innovative technologies that will save the planet. Producing energy-efficient, zero-emission vertical farms, chief executive David Farquhar said one IGS tower is 1,000 times more efficient at producing crops than one field. “Our indoor towers require no humans, no hydrocarbons, produce no emissions and result in massive water savings.”
The panel also identified seaweed as an alternative fast-growing “wonder crop” as it improves biodiversity and absorbs C02 more quickly than trees.
Phones to the rescue
Seasonality and locality will define a more sustainable approach across hospitality and retail sectors, said Ibrahim Al-Zubi, chief sustainability officer of Dubai-based Majid Al Futtaim Holdings, which operates Carrefour stores in 37 countries. And, he said, as 60 per cent of the UAE’s population is under the age 30, smartphones are the key to progress.
As an example, the food and drink app Too Good to Go, was co-founded by Jamie Crummie with the vision of creating a zero-waste planet. Connecting customers with restaurants and stores to rescue “surprise bags” of fresh, unsold food, the app is working closely with retailers Starbucks and Costa Coffee, as well as 120,000 businesses and 50 million consumers globally, to drive policy solutions that will inspire behavioural change.
While myriad data-driven solutions were outlined during the four-hour panel, there was one surprising omission.
“Veganism is not the solution to the world’s food crisis,” said Chris Elliott, professor of food safety and founder of the Institute for Global Food Security at Queen’s University Belfast. “There are more ex-vegans than vegans on the planet, because many tried it and didn’t like it. The answer does not lie in plant-based versus animal foods, but rather in alternative environmentally friendly options, innovation, improved soil fertility and better transparency.”
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Abu Dhabi Sustainability Week
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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.”
Zimbabwe v UAE, ODI series
All matches at the Harare Sports Club:
1st ODI, Wednesday, April 10
2nd ODI, Friday, April 12
3rd ODI, Sunday, April 14
4th ODI, Tuesday, April 16
UAE squad: Mohammed Naveed (captain), Rohan Mustafa, Ashfaq Ahmed, Shaiman Anwar, Mohammed Usman, CP Rizwan, Chirag Suri, Mohammed Boota, Ghulam Shabber, Sultan Ahmed, Imran Haider, Amir Hayat, Zahoor Khan, Qadeer Ahmed
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
Sri Lanka-India Test series schedule
- 1st Test India won by 304 runs at Galle
- 2nd Test Thursday-Monday at Colombo
- 3rd Test August 12-16 at Pallekele
The specs
Price, base: Dh228,000 / Dh232,000 (est)
Engine: 5.7-litre Hemi V8
Transmission: Eight-speed automatic
Power: 395hp @ 5,600rpm
Torque: 552Nm
Fuel economy, combined: 12.5L / 100km
Zayed Sustainability Prize
The Cairo Statement
1: Commit to countering all types of terrorism and extremism in all their manifestations
2: Denounce violence and the rhetoric of hatred
3: Adhere to the full compliance with the Riyadh accord of 2014 and the subsequent meeting and executive procedures approved in 2014 by the GCC
4: Comply with all recommendations of the Summit between the US and Muslim countries held in May 2017 in Saudi Arabia.
5: Refrain from interfering in the internal affairs of countries and of supporting rogue entities.
6: Carry out the responsibility of all the countries with the international community to counter all manifestations of extremism and terrorism that threaten international peace and security
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
Visit Abu Dhabi culinary team's top Emirati restaurants in Abu Dhabi
Yadoo’s House Restaurant & Cafe
For the karak and Yoodo's house platter with includes eggs, balaleet, khamir and chebab bread.
Golden Dallah
For the cappuccino, luqaimat and aseeda.
Al Mrzab Restaurant
For the shrimp murabian and Kuwaiti options including Kuwaiti machboos with kebab and spicy sauce.
Al Derwaza
For the fish hubul, regag bread, biryani and special seafood soup.
Various Artists
Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
Match info
Uefa Nations League Group B:
England v Spain, Saturday, 11.45pm (UAE)
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GROUPS AND FIXTURES
Group A
UAE, Italy, Japan, Spain
Group B
Egypt, Iran, Mexico, Russia
Tuesday
4.15pm: Italy v Japan
5.30pm: Spain v UAE
6.45pm: Egypt v Russia
8pm: Iran v Mexico
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
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