Australia's Great Barrier Reef suffered its most widespread coral bleaching on record, scientists said on April 7, 2020 in a dire warning about the threat posed by climate change to the world's largest living organism. AFP
Australia's Great Barrier Reef suffered its most widespread coral bleaching on record, scientists said on April 7, 2020 in a dire warning about the threat posed by climate change to the world's largest living organism. AFP
Australia's Great Barrier Reef suffered its most widespread coral bleaching on record, scientists said on April 7, 2020 in a dire warning about the threat posed by climate change to the world's largest living organism. AFP
Australia's Great Barrier Reef suffered its most widespread coral bleaching on record, scientists said on April 7, 2020 in a dire warning about the threat posed by climate change to the world's larges

There's hope for the Great Barrier Reef yet: New 'cloud brightening' project aims to save vulnerable coral


Katy Gillett
  • English
  • Arabic

One silver lining we've seen come from social distancing measures taken during the outbreak of Covid-19 has been the positive impact on the environment. A decrease in pollution levels and thriving wildlife are just two examples that have been noted here in the UAE.

But the damage already done to this planet is widespread. The devastating impacts of global warming are particularly clear in Australia, where the Great Barrier Reef, the Earth's largest coral reef system and one of the seven natural wonders of the world, is highly vulnerable.

In the past few decades, the reef has lost more than half of its coral cover, pollution has caused deadly starfish outbreaks and it's endured mass coral bleaching, according to the World Wildlife Fund.

An example of coral bleaching at the Great Barrier Reef. AFP
An example of coral bleaching at the Great Barrier Reef. AFP

Now, a small group of scientists hope to save it from the brink of extinction, with an ambitious new "cloud brightening" project they hope could become a futuristic way of protecting coral from the effects of global warming.

What is 'cloud brightening'?

The idea is to cool the waters around the reef by making clouds reflect more sunlight. Researchers used a fan, which was mounted on a boat, to shoot salt crystals into the air.

The project's lead scientist, Daniel Harrison, from Southern Cross University in Lismore, Australia, told AFP the results from the initial early-stage trial were "really, really encouraging".

If we keep going on business-as-usual-type emission scenarios, then at most this technology can just buy a couple of extra decades

"All the research is theoretical ... so this an absolute world first to go out and actually try and take seawater and turn it into these cloud condensation nuclei."

While the experiment was a success, Harrison also emphasised that at least four more years of research would be needed in order to prove the theory. Then, to have a significant impact, an experiment that is 10 times larger would need to be undertaken.

"If it works as well as we hope then maybe we could reduce the bleaching stress by about 70 per cent ... potentially nearly all of the mortality," Harrison added.

Yet, as oceans warm further, Harrison also said the cloud-brightening technique could become less effective.

"If we keep going on business-as-usual-type emission scenarios, then at most this technology can just buy a couple of extra decades before we see the complete loss of the reef."

The experiment was a collaboration between the university and the Sydney Institute of Marine Science. It took place in late March, just as a survey found the reef had suffered its most widespread coral bleaching on record.

It was the third mass bleaching event in the past five years and raised fears that much of the coral could be permanently damaged.

Is cloud brightening similar to cloud seeding?

Here in the UAE, we use a method called cloud seeding, which artificially encourages a cloud to produce rain.

Is it similar to cloud brightening? Yes and no.

Cloud seeding planes are fitted with special flares that are loaded with salt crystals and fired into convective, or warm, clouds that have an updraft – or rising current of air.

The updraft then sucks up the salt crystals into the cloud, and they attract tiny particles of water that collide, becoming heavier and then falling as rain.

Last year, the UAE conducted 242 missions, which was up from 177 in 2016.

So the method is similar, but the outcome and aims are completely different.

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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.”

RESULTS

Catchweight 82kg
Piotr Kuberski (POL) beat Ahmed Saeb (IRQ) by decision.

Women’s bantamweight
Corinne Laframboise (CAN) beat Cornelia Holm (SWE) by unanimous decision.

Welterweight
Omar Hussein (PAL) beat Vitalii Stoian (UKR) by unanimous decision.

Welterweight
Josh Togo (LEB) beat Ali Dyusenov (UZB) by unanimous decision.

Flyweight
Isaac Pimentel (BRA) beat Delfin Nawen (PHI) TKO round-3.

Catchweight 80kg​​​​​​​
Seb Eubank (GBR) beat Emad Hanbali (SYR) KO round 1.

Lightweight
Mohammad Yahya (UAE) beat Ramadan Noaman (EGY) TKO round 2.

Lightweight
Alan Omer (GER) beat Reydon Romero (PHI) submission 1.

Welterweight
Juho Valamaa (FIN) beat Ahmed Labban (LEB) by unanimous decision.

Featherweight
Elias Boudegzdame (ALG) beat Austin Arnett (USA) by unanimous decision.

Super heavyweight
Maciej Sosnowski (POL) beat Ibrahim El Sawi (EGY) by submission round 1.

Fifa Club World Cup quarter-final

Esperance de Tunis 0
Al Ain 3
(Ahmed 02’, El Shahat 17’, Al Ahbabi 60’)

RESULTS

 

Catchweight 63.5kg: Shakriyor Juraev (UZB) beat Bahez Khoshnaw (IRQ). Round 3 TKO (body kick)

Lightweight: Nart Abida (JOR) beat Moussa Salih (MAR). Round 1 by rear naked choke

Catchweight 79kg: Laid Zerhouni (ALG) beat Ahmed Saeb (IRQ). Round 1 TKO (punches)

Catchweight 58kg: Omar Al Hussaini (UAE) beat Mohamed Sahabdeen (SLA) Round 1 rear naked choke

Flyweight: Lina Fayyad (JOR) beat Sophia Haddouche (ALG) Round 2 TKO (ground and pound)

Catchweight 80kg: Badreddine Diani (MAR) beat Sofiane Aïssaoui (ALG) Round 2 TKO

Flyweight: Sabriye Sengul (TUR) beat Mona Ftouhi (TUN). Unanimous decision

Middleweight: Kher Khalifa Eshoushan (LIB) beat Essa Basem (JOR). Round 1 rear naked choke

Heavyweight: Mohamed Jumaa (SUD) beat Hassen Rahat (MAR). Round 1 TKO (ground and pound)

Lightweight: Abdullah Mohammad Ali Musalim (UAE beat Omar Emad (EGY). Round 1 triangle choke

Catchweight 62kg: Ali Taleb (IRQ) beat Mohamed El Mesbahi (MAR). Round 2 KO

Catchweight 88kg: Mohamad Osseili (LEB) beat Samir Zaidi (COM). Unanimous decision

Other workplace saving schemes
  • The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
  • Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
  • National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
  • In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
  • Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
Asia Cup 2018 final

Who: India v Bangladesh

When: Friday, 3.30pm, Dubai International Stadium

Watch: Live on OSN Cricket HD

Cracks in the Wall

Ben White, Pluto Press 

FIXTURES

New Zealand v France, second Test
Saturday, 12.35pm (UAE)
Auckland, New Zealand

South Africa v Wales
Sunday, 12.40am (UAE), San Juan, Argentina

UK’s AI plan
  • AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
  • £10bn AI growth zone in South Wales to create 5,000 jobs
  • £100m of government support for startups building AI hardware products
  • £250m to train new AI models

A Prayer Before Dawn

Director: Jean-Stephane Sauvaire

Starring: Joe Cole, Somluck Kamsing, Panya Yimmumphai

Three stars

Saudi Cup race day

Schedule in UAE time

5pm: Mohamed Yousuf Naghi Motors Cup (Turf), 5.35pm: 1351 Cup (T), 6.10pm: Longines Turf Handicap (T), 6.45pm: Obaiya Arabian Classic for Purebred Arabians (Dirt), 7.30pm: Jockey Club Handicap (D), 8.10pm: Samba Saudi Derby (D), 8.50pm: Saudia Sprint (D), 9.40pm: Saudi Cup (D)

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