The Gulf is enjoying a cultural renaissance. While some of the region’s countries – particularly the UAE and Qatar – have hosted world-class art galleries, museums and cultural events for decades, its largest, Saudi Arabia, has only recently begun making arts and culture central to a process of national transformation. In Saudi cities, films, plays, concerts and other leisure pursuits were previously more marginal, but now they are becoming a priority. As this trend takes hold, leaders there and across the GCC as a whole have a fresh opportunity to set a global example by making this renaissance meet exacting environmental and social standards. Much of the cultural infrastructure will be new, and it is possible to ensure that it incorporates sustainability.
The environmental aspects of culture are clear. Countries can develop infrastructure – such as museums, art centres and heritage sites – to meet the latest ecological standards. This will limit carbon and other greenhouse-gas emissions, as well as using water, energy and other resources efficiently. If, for example, all of the cultural assets currently planned for construction in the GCC by 2030 were built in the most sustainable way, it could cut lifetime carbon emissions by at least 1.3 million metric tonnes – equal to taking 320,000 cars off the road for a year.
Similarly, if all of the planned annual cultural events and film productions in the Gulf were carried out in their most sustainable form, it could reduce greenhouse-gas emissions by at least 600,000 metric tonnes compared to current practices. That reduction is equivalent to the emissions produced in a year by a city of roughly 130,000 inhabitants. These are conservative estimates that assume a mere 30 per cent emissions reduction. But GCC countries could slash emissions in events and film production by up to 80 per cent – this would be equivalent to emissions produced by a city of 340,000 people annually.
As well as a renewed focus on the environment, this cultural drive can also encourage social inclusion. Cultural activities can promote artists, protect their intellectual property and fund creativity. Simultaneously, cultural initiatives can support heritage restoration, tourism development and the physical regeneration of local communities. Inclusion can come from cultural initiatives that train local people as heritage guides or museum employees. Infrastructure can be constructed using local materials. Social inclusion also means bringing community leaders into important decisions and building consensus about development plans.
This kind of social inclusion can protect heritage so that it can be passed from generation to generation. This heritage can include physical sites or traditions, such as ancient coffee-making techniques, Arabic calligraphy or folk dances like Al Ardah in Saudi Arabia. Many of these traditions and collective memories are at risk because verbal transmission in tight-knit communities is fading. Governments and cultural organisations can preserve this heritage through documentation, recording and research using the latest digital techniques to make it accessible to future generations.
Cultural leaders can do their part by promoting social inclusion by providing offerings in more remote, less populated areas. In many countries, large cultural events take place in cities, something that can leave people living elsewhere left out. Instead, GCC countries can use technology so that people can get the same content wherever they live. That can mean offering web-based replicas of galleries and museums, or providing e-books in digital libraries. Similarly, touring performances and exhibitions that visit more remote locations can help more people enjoy culture.
By adopting exemplary environmental, social and governance standards, cultural leaders can contribute to climate and economic goals, such as net-zero emissions targets. They can assist national development by generating more economic activity, creating jobs, accruing financial benefits and yielding higher returns on investment.
As an example, let’s say sustainable construction methods were used for all cultural assets to be built by 2030: estimates say they could generate net present value of about $14 billion over the lifetime of these assets. In fact, this is a conservative estimate in terms of the volume of construction and the savings each asset could generate. Simultaneously, marrying culture to sustainability could attract important foreign investment.
The best way to carry out these changes is systematically and by using the latest practices. Already, Abu Dhabi’s Department for Culture and Tourism is developing a calculator to estimate the carbon footprint of all the emirate’s hotels. In Saudi Arabia, the Cultural Development Fund has joined forces with the stock exchange, Tadawul, to provide a channel through which Saudi companies can invest in cultural and heritage projects.
That means Tadawul can help businesses improve their verifiable social and environmental commitments, and have more access to international markets through better sustainability performance. Saudi Arabia’s Ministry of Culture has started the Culture and Green Future initiative in co-operation with the Arab League Educational, Cultural and Scientific Organisation – the purpose being to make culture more sustainable, and to promote its role in helping to achieve net zero.
To support these initiatives, governments should show commitment, provide funding and make organisational changes. Ministries, cultural departments, along with federal and local authorities could adopt a hybrid model that centralises leadership of the sustainability strategy, while working in a decentralised way to reach communities.
The cultural renaissance much of the region is experiencing today offers a unique moment that coincides with ambitious national agendas for economic transformation and achieving net zero. Cultural leaders can put the region’s culture sector and heritage at the forefront of these efforts.
Nay Abi Ramia is a Principal with Strategy& and a member of the firm’s culture and entertainment practice in the Middle East
Dr Yahya Anouti is a Partner with Strategy& and a member of the firm’s Energy, Resources and Sustainability practice in the Middle East
MATCH INFO
Manchester United 6 (McTominay 2', 3'; Fernandes 20', 70' pen; Lindelof 37'; James 65')
Leeds United 2 (Cooper 41'; Dallas 73')
Man of the match: Scott McTominay (Manchester United)
What is the FNC?
The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning.
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval.
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
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The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
More from Neighbourhood Watch:
The Details
Kabir Singh
Produced by: Cinestaan Studios, T-Series
Directed by: Sandeep Reddy Vanga
Starring: Shahid Kapoor, Kiara Advani, Suresh Oberoi, Soham Majumdar, Arjun Pahwa
Rating: 2.5/5
The Bio
Favourite vegetable: “I really like the taste of the beetroot, the potatoes and the eggplant we are producing.”
Holiday destination: “I like Paris very much, it’s a city very close to my heart.”
Book: “Das Kapital, by Karl Marx. I am not a communist, but there are a lot of lessons for the capitalist system, if you let it get out of control, and humanity.”
Musician: “I like very much Fairuz, the Lebanese singer, and the other is Umm Kulthum. Fairuz is for listening to in the morning, Umm Kulthum for the night.”
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RESULTS
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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.”
What are the influencer academy modules?
- Mastery of audio-visual content creation.
- Cinematography, shots and movement.
- All aspects of post-production.
- Emerging technologies and VFX with AI and CGI.
- Understanding of marketing objectives and audience engagement.
- Tourism industry knowledge.
- Professional ethics.
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
McLaren GT specs
Engine: 4-litre twin-turbo V8
Transmission: seven-speed
Power: 620bhp
Torque: 630Nm
Price: Dh875,000
On sale: now
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