Razan Khalifa Al Mubarak is president of the International Union for Conservation of Nature and UN Climate Change High-Level Champion for the leadership team of Cop28 UAE
October 30, 2023
This year is set to be the warmest on record. Land and ocean surface temperatures have broken records in what has been described as “uncharted territory”.
Extreme weather conditions and ecological degradation have affected people, livelihoods, biodiversity and economies globally.
With Cop28 around the corner, there is an obvious need to position nature as a central pillar for both climate mitigation and adaptation.
Approximately 30 per cent of human-caused carbon dioxide (CO2) emissions are absorbed by land ecosystems and another 30 per cent is absorbed by oceans. The remaining portion stays in the atmosphere, contributing to global warming and climate change.
Nature plays a dual role: it mitigates climate extremes and helps communities adapt to them. For instance, preserving nature could provide for a third of the required climate mitigation by 2030, supporting the stabilisation of global warming.
Climate change is affecting nature in multiple ways.
The world’s soils store more carbon than vegetation and the atmosphere combined. When land is degraded, from deforestation and droughts to accelerated soil erosion, the carbon in the soil can be released into the atmosphere. This has made land degradation one of the largest contributors to climate change.
Restoration has to go beyond mere tree planting
Forests act as both a cause and a solution for greenhouse gas emissions. Around 25 per cent of global emissions come from the land sector, the second largest source of greenhouse gas emissions after the energy sector.
About half of these emissions come from deforestation and forest degradation. Forests also regulate ecosystems, protect biodiversity and mitigate emissions. Every year, forests soak 2.6 billion tonnes of carbon dioxide. This accounts for one-third of CO2 emissions that result from the combustion of fossil fuels.
It is essential to recognise that Indigenous Peoples and local communities manage or have tenure rights over a substantial portion of the world’s forests. Forests under their stewardship are often more sustainably managed and effectively conserved, thereby acting as robust carbon sinks.
Ninety percent of global warming occurs in the ocean, leading to temperature changes, altered ocean currents and deoxygenation. Carbon emissions are increasing the acidity of the ocean, affecting marine life and ecosystems. Current levels are already too high for coral reefs to thrive, which directly affects food provision and flood protection.
Meanwhile, coastal ecosystems such as mangroves also play a crucial role in carbon storage and sequestration. Mangroves forests cover about 0.1 per cent of the planet’s surface but can store up to 10 times more carbon per hectare than terrestrial forests. Mangrove ecosystems also prevent more than $65 billion in property damages, and reduce flood risks for around 15 million people every year.
This is why the UAE is endorsing the Mangrove Breakthrough, as well as hosting the first ever Mangrove Ministerial at Cop28 – in support of the goal to secure the future of 15 million hectares of mangroves by 2030.
Climate change mitigation involves a diverse set of strategies and solutions. I strongly believe in the need to harness the power of nature through biological mitigation. Biological mitigation, a climate strategy, involves preserving and enhancing natural environments such as forests and wetlands, which are crucial carbon sinks.
A night sky and a forest illuminated with fireflies at Anamalai Tiger Reserve, Tamil Nadu, India. PA
A woman looks through debris in the aftermath of a military strike on a camp for displaced people near Laiza, Myanmar. AFP
Nobel Peace Prize awarded journalist Dmitry Muratov speaks to journalists at a courtroom in Moscow, Russia. AP
Buddhist monks play drums during morning prayers at Gyuto Monastery in Dharamsala. AFP
Russian armed forces take part in military drills at the Edelweiss training area in Balykchy. AFP
Fans of Bollywood actor Amitabh Bachchan offer prayers at a temple on his 81st birthday in Kolkata. AFP
A dog sits near a house that was destroyed by an earthquake in Zenda Jan district, Herat province, Afghanistan. AP
Activists, some wearing traditional Sami costumes, protest along Karl Johans gate street, in Oslo. AP
Riot police officers stand guard as demonstrators block an avenue in Guatemala City, Guatemala. Reuters
UAE energy company Adnoc plants mangrove seedlings using drones in Abu Dhabi. Reuters
Nature-based solutions offer sustainable methods to combat climate change. Sustainable forest management not only keeps forests healthy for CO2 absorption but also safeguards overall biodiversity, including that of plants, fungi and trees.
In essence, this is about protecting living forests. Restoration is another key approach, but it's vital that it goes beyond mere tree planting. True restoration aims to enhance degraded forests and adheres to the framework of the International Union for Conservation of Nature called the Global Standard for Nature-based Solutions. This creates benefits such as revitalising wildlife habitats, capturing CO2, enhancing water quality and preventing soil erosion.
Such solutions empower local communities to adapt and mitigate to climate change. Coastal habitat protection, for example, provides natural flood barriers. Healthy wetlands and forests can bolster groundwater supplies, proving invaluable during droughts. Urban forests, meanwhile, can reduce city temperatures, countering the urban heat island effect. And coastal ecosystems, such as mangroves and coral reefs, help dissipate wave energy, thus reducing coastal flooding risks.
One of the key pillars of the Cop28 action plan is focusing on people, nature, lives and livelihoods. It calls for people and the planet to be at the heart of the climate process.
At Cop28, we will promote and platform initiatives that not only protect biodiversity and vital natural carbon sinks, but also champion those who are on the frontlines of conservation, adaptation, and resilience efforts. We want to bring attention to and tie in the implementation of the Kunming-Montreal Global Biodiversity Framework’s 30x30 goal to conserve 30 per cent of lands and seas by 2030 as a critical tool for climate action.
As we gear up for Cop28, it is crucial to recognise the invaluable role of nature from forest and soils to oceans and wetlands. We must align on both nature and climate action because failure to do so would be a missed opportunity and one we cannot afford.
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What: 2006 World Cup quarter-final When: July 1 Where: Gelsenkirchen Stadium, Gelsenkirchen, Germany
Result:
England 0 Portugal 0
(Portugal win 3-1 on penalties)
More than 2.2 million Indian tourists arrived in UAE in 2023 More than 3.5 million Indians reside in UAE Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
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Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more
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.”
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
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The design
The protective shell is covered in solar panels to make use of light and produce energy. This will drastically reduce energy loss.
More than 80 per cent of the energy consumed by the French pavilion will be produced by the sun.
The architecture will control light sources to provide a highly insulated and airtight building.
The forecourt is protected from the sun and the plants will refresh the inner spaces.
A micro water treatment plant will recycle used water to supply the irrigation for the plants and to flush the toilets. This will reduce the pavilion’s need for fresh water by 30 per cent.
Energy-saving equipment will be used for all lighting and projections.
Beyond its use for the expo, the pavilion will be easy to dismantle and reuse the material.
Some elements of the metal frame can be prefabricated in a factory.
From architects to sound technicians and construction companies, a group of experts from 10 companies have created the pavilion.
Work will begin in May; the first stone will be laid in Dubai in the second quarter of 2019.
Construction of the pavilion will take 17 months from May 2019 to September 2020.
6.30pm: Shahm, 7.05pm: Well Of Wisdom, 7.40pm: Lucius Tiberius, 8.15pm: Captain Von Trapp, 8.50pm: Secret Advisor, 9.25pm: George Villiers, 10pm: American Graffiti, 10.35pm: On The Warpath
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
The Apple Card looks different from a traditional credit card — there's no number on the front and the users' name is etched in metal. The card expands the company's digital Apple Pay services, marrying the physical card to a virtual one and integrating both with the iPhone. Its attributes include quick sign-up, elimination of most fees, strong security protections and cash back.
What does it cost?
Apple says there are no fees associated with the card. That means no late fee, no annual fee, no international fee and no over-the-limit fees. It also said it aims to have among the lowest interest rates in the industry. Users must have an iPhone to use the card, which comes at a cost. But they will earn cash back on their purchases — 3 per cent on Apple purchases, 2 per cent on those with the virtual card and 1 per cent with the physical card. Apple says it is the only card to provide those rewards in real time, so that cash earned can be used immediately.
What will the interest rate be?
The card doesn't come out until summer but Apple has said that as of March, the variable annual percentage rate on the card could be anywhere from 13.24 per cent to 24.24 per cent based on creditworthiness. That's in line with the rest of the market, according to analysts
What about security?
The physical card has no numbers so purchases are made with the embedded chip and the digital version lives in your Apple Wallet on your phone, where it's protected by fingerprints or facial recognition. That means that even if someone steals your phone, they won't be able to use the card to buy things.
Is it easy to use?
Apple says users will be able to sign up for the card in the Wallet app on their iPhone and begin using it almost immediately. It also tracks spending on the phone in a more user-friendly format, eliminating some of the gibberish that fills a traditional credit card statement. Plus it includes some budgeting tools, such as tracking spending and providing estimates of how much interest could be charged on a purchase to help people make an informed decision.
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Global Fungi Facts
• Scientists estimate there could be as many as 3 million fungal species globally • Only about 160,000 have been officially described leaving around 90% undiscovered • Fungi account for roughly 90% of Earth's unknown biodiversity • Forest fungi help tackle climate change, absorbing up to 36% of global fossil fuel emissions annually and storing around 5 billion tonnes of carbon in the planet's topsoil
- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns
- Margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars
- Energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces
- Infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes
- Many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts