Fifty years ago today, in 1970, the first Earth Day was marked.
It began in America, where a growing number of people were becoming concerned about the vast amounts of leaded gas that were being consumed through the automobile industry.
Air pollution was rife. But it was also generally accepted as a normal part of everyday life.
For the most part, the population was oblivious to the damage we were all doing to our planet.
A brief history of the Earth Day movement
Senator Gaylord Nelson, a junior senator from Wisconsin, was paying attention, however. In January 1969, he was deeply moved by a massive oil spill in Santa Barbara, California and, inspired by the student anti-war movement, he wanted to merge that rebellious spirit with a raising consciousness of air and water pollution.
Nelson decided to organise college teach-ins with the help of Pete McCloskey, a Republican congressman with a mind for conservation, and activist Denis Hayes. They chose April 22, as it was a weekday that fell between spring break and final exams, therefore ensuring as much student participation as possible.
Hayes went on to recruit 85 national staff to promote the events across the country to a broadening group of people. That's when they changed the name to Earth Day, a move that captured the media's – and the nation's – attention. Ultimately, about 20 million Americans, 10 per cent of the population at the time, were inspired to head out into the streets and public spaces to demonstrate against the environmental impacts of industrial development.
A milestone event and a catalyst for change
It was an important moment for many reasons. Not only did it spark a 50-year-long venture that is still ongoing to this day, but it also brought together a range of different communities. Groups that had been leading the fight on specific issues, such as oil spills and the use of pesticides, united under the guise of Earth Day.
Republicans and Democrats, people of varying social classes, big-city folk, farmers and businessmen all joined in.
It led to the creation of the United States Environmental Protection Agency and paved a path for the introduction of a range of new environmental laws, including the Clean Air Act.
From America to the world: Earth Day goes global
It might have taken 20 years, but Earth Day eventually went global in 1990, when a group of international environmental leaders approached Hayes. This saw 200 million people in 141 countries get involved, as a focus was put on worldwide recycling efforts.
Today, more than one billion people mark Earth Day globally. More than ever, people are aware of the detrimental impacts industry has on our planet, and they're willing to stand up and say something about it. Naturally, the internet has made it possible for organisers to reach out to people in the furthest corners of the planet.
What's new for Earth Day 2020?
Of course, firstly, many of the events will be entirely digital as we continue to try and curb the spread of Covid-19 and practice social distancing.
We find ourselves today in a world facing global threats that demand a unified global response
To mark the 50th anniversary, the Earth Day Network organisers have chosen to focus on climate action. "The enormous challenges – but also the vast opportunities – of acting on climate change have distinguished the issue as the most pressing topic for the 50th anniversary year," reads a statement on the official website.
"At the end of 2020, nations will be expected to increase their national commitments to the 2015 Paris Agreement on climate change, so the time is now for citizens to call for greater global ambition to tackle our climate crisis."
There are a number of campaigns that have been designed to engage at least one billion people. This includes Earthrise, the Great Global Cleanup, Earth Challenge 2020, Foodprints for the Future and Artists for the Earth.
Further details on each of these campaigns can be found on the website.
They've also set up the Global Advisory Committee for the 50th Anniversary of Earth Day in 2020, which enlists worldwide leaders and activists to help engage their communities. This includes actor Leonardo DiCaprio, Princess Lalla Hasna of Morocco, former president of Finland Tarja Halonen, former US Secretary of State John Kerry, actor and producer Anil Kapoor and Virgin Group founder Sir Richard Branson, to name a few.
"Earth Day 2020 will be far more than a day," the statement continues. "It must be a historic moment when citizens of the world rise up in a united call for the creativity, innovation, ambition, and bravery that we need to meet our climate crisis and seize the enormous opportunities of a zero-carbon future."
How can you get involved?
There are a number of ways, all listed on the "take action" section of the website. These include adding your voice or story to a worldwide "map of support", organising a digital event (or a physical one when social distancing regulations come to an end), spreading the word in your community through social media, downloading campaign materials and more.
Why is this movement so important?
As we deal with the global pandemic, the fact that something drastic needs to change – and urgently – has never been so prevalent.
For Earth Day 2020, we will build a new generation of environmentalist activists
Hayes says: "We find ourselves facing an even more dire, almost existential, set of global environmental challenges, from loss of biodiversity to climate change to plastic pollution, that call for action at all levels of government."
Earth Day Network president Kathleen Rogers says progress has slowed and "our adversaries have become better financed".
"We find ourselves today in a world facing global threats that demand a unified global response. For Earth Day 2020, we will build a new generation of environmentalist activists, engaging millions of people worldwide."
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.”
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
2.0
Director: S Shankar
Producer: Lyca Productions; presented by Dharma Films
Cast: Rajnikanth, Akshay Kumar, Amy Jackson, Sudhanshu Pandey
Rating: 3.5/5 stars
UAE currency: the story behind the money in your pockets
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)
ANATOMY%20OF%20A%20FALL
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EJustine%20Triet%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ESandra%20Huller%2C%20Swann%20Arlaud%2C%20Milo%20Machado-Graner%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%205%2F5%3C%2Fp%3E%0A
TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
The%20Roundup
%3Cp%3EDirector%3A%20Lee%20Sang-yong%3Cbr%3EStars%3A%20Ma%20Dong-seok%2C%20Sukku%20Son%2C%20Choi%20Gwi-hwa%3Cbr%3ERating%3A%204%2F5%3C%2Fp%3E%0A
Tips for SMEs to cope
- Adapt your business model. Make changes that are future-proof to the new normal
- Make sure you have an online presence
- Open communication with suppliers, especially if they are international. Look for local suppliers to avoid delivery delays
- Open communication with customers to see how they are coping and be flexible about extending terms, etc
Courtesy: Craig Moore, founder and CEO of Beehive, which provides term finance and working capital finance to SMEs. Only SMEs that have been trading for two years are eligible for funding from Beehive.