With their freezing temperatures and abundance of ice, the polar regions could hardly offer a greater contrast to the Gulf and its searing temperatures.
But links between the UAE and these parts of the globe have strengthened in recent years through the Emirates Polar Programme, which helps UAE national scientists to become involved in scientific research.
The effects of climate change on the coldest regions of the planet are especially severe, with these areas warming much faster than the global average.
This effect is especially strong in the Arctic, which is heating up well over twice as fast as the planet as a whole, but Antarctica too is warming much quicker than are other regions.
The UAE’s involvement with the polar regions is focused on science rather than on issues related to defence, sovereignty or security.
By contrast, some other nations are jockeying for advantage as the polar regions change because of global warming. Access to the likes of shipping routes and natural resources is opening up, and the regions could also become increasingly important in military terms.
The UAE became the first Arab nation to commit to carrying out scientific research in Antarctica under the Antarctic Treaty System, which freezes territorial claims and reserves the continent for peaceful uses.
Among the Emiratis to have visited Antarctica is Dr Hussain Khansaheb, executive director of marine engineering at Dubai Holding Real Estate, which has launched a National Sustainability Champion programme.
A fascinating article by Shireena Al Nowais discusses Dr Khansaheb’s intrepid visit to Antarctica, a trip that saw him travel deep into the interior of this coldest of continents.
Jim Bolssens, from Europets Clinic, Sharjah, and Natasha Mannina, head vet at The National Aquarium Abu Dhabi, with a green sea turtle that required surgery. Chris Whiteoak / The National
Sea turtles in the Gulf already have to cope with some of the warmest waters in the world, but a new study has shown that human activity puts added pressure on the creatures.
Shipping, fishing and oil and gas infrastructure affect the animals, and the research suggests that there is greatest disturbance in UAE waters. Marine protected areas may offer only limited benefits to the animals.
Undertaken by scientists based in Iran and Greece, the work looked at the critically endangered hawksbill sea turtle and the green sea turtle.
However, organisations such as the Environment Agency – Abu Dhabi have many initiatives to safeguard the creatures, as outlined in the article here.
There have been many initiatives in the UAE to cut demand for single-use plastics. Chris Whiteoak / The National
Today is a big day for environmental protection in the UAE, as a ban on several types of single-use plastics comes into force.
The rules around plastics have progressively been tightened in recent years, and the new year heralds a further strengthening of regulations, with the import, manufacture and trade of items including cutlery, plates, beverage cups and lids, straws and Styrofoam food containers and boxes outlawed.
As the new laws take effect, John Dennehy’s informative article from last month detailing the changes is well worth checking out again.
The big fact
Since industrial times, the world as a whole has warmed about 1.2 °C, according to material published by the environmental organisation WWF. However, over the same timespan, the Arctic has warmed 3 °C.
Jargon buster
Albedo: This is the proportion of light reflected by a surface. The albedo effect is an important reason why the Arctic and the Antarctic are warming much faster than the rest of the planet.
Ice or snow reflect most of the sunlight that shines on them (snow has an albedo of about 80 per cent), but when they melt, it exposes a greater area of sea or other darker surfaces, which do not reflect so much light (the sea has an albedo of no more than 10 per cent).
As a result, more heat from the sun is absorbed, causing further warming, which, in turn, leads to more melting.
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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.”
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
Electric scooters: some rules to remember
Riders must be 14-years-old or over
Wear a protective helmet
Park the electric scooter in designated parking lots (if any)
Do not leave electric scooter in locations that obstruct traffic or pedestrians
Solo riders only, no passengers allowed
Do not drive outside designated lanes
The Ashes
Results
First Test, Brisbane: Australia won by 10 wickets
Second Test, Adelaide: Australia won by 120 runs
Third Test, Perth: Australia won by an innings and 41 runs
Fourth Test: Melbourne: Drawn
Fifth Test: Australia won by an innings and 123 runs
