A flock of Arabian Oryx graze at a conservation area in front of the Dubai city skyline earlier this year. AP
A flock of Arabian Oryx graze at a conservation area in front of the Dubai city skyline earlier this year. AP
A flock of Arabian Oryx graze at a conservation area in front of the Dubai city skyline earlier this year. AP
A flock of Arabian Oryx graze at a conservation area in front of the Dubai city skyline earlier this year. AP


The story of how the UAE became a sustainability model is worth telling


Suhail Al Mazrouei
Suhail Al Mazrouei
  • English
  • Arabic

November 29, 2023

In 2015, Paris delivered the agreement. In 2023, Dubai must deliver the action. In those eight years, we witnessed plenty of wins and losses for the climate battle. But it all comes down to Cop28 to show how far we have come exactly and how high we need to aim to get to where we all need to be, to keep the climate in check and ensure a climate-safe future for the coming generations.

We are confident that the Cop28 Presidency will deliver on its promises and its mission of achieving the four paradigm shifts under its Action Agenda. These include fast-tracking the just, equitable and orderly energy transition and slashing emissions before 2030; transforming climate finance by delivering on old promises and setting the framework for a new deal on finance; putting nature, people, lives and livelihoods at the heart of climate action; and mobilising for an inclusive Cop.

As a responsible member of the international community, a sustainability champion and a climate advocate, the UAE has made confident strides across all four areas. Our journey towards becoming a sustainability role model began during the early days of the union. The UAE’s Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, was named “Man of the Environment” because of his deep affection towards nature and his unwavering commitment to its protection.

“We pay the utmost care and attention to our environment, for it is an integral part of the country, our history, and our heritage,” Sheikh Zayed once said, charting the path of our country.

It all comes down to Cop28 to show how far we have come from 2015, and how high we need to aim to get to where we all need to be

To this day, our wise leadership continues to follow in his steps, adopt the same causes he championed and pursue a comprehensive, yet pragmatic, development both at home and abroad.

In July, we updated the UAE Energy Strategy 2050 with higher, more ambitious targets. These include tripling our renewables capacity by 2030, in response to the request made by the Cop28 Presidency, increasing the share of installed clean energy capacity to 30 per cent by 2030, and reducing the energy consumption through improved efficiency by up to 45 per cent by 2050. To achieve these targets, we will channel investments of up to Dh200 billion ($54.5bn) in projects that drive climate action and energy security.

Also, the UAE launched the National Hydrogen Strategy that calls for the production of 1.4 million tonnes of low-carbon hydrogen every year by 2031, increasing production to 15 million tonnes by 2050, and establishing two hydrogen oases by 2031 and increasing their number to five by 2050.

Both strategies support Cop28 priority areas related to the energy transition. We see the energy transition not only as an environmental obligation but as an economic opportunity as well. The UAE has demonstrated that diversifying its economy and energy sources has been more of an opportunity rather than a challenge.

Let’s look at Masdar. It was established in 2006 with a clear mission of establishing the UAE as a major global renewables producer and investor. Today, Masdar is one of the world’s largest renewable energy powerhouses and a major green hydrogen player, placing the UAE at the forefront of the energy transition. Masdar is active in more than 40 countries, with a combined electricity generation capacity of more than 20 gigawatts. It has growth plans to reach 100 GW and 1 million tonnes of green hydrogen by 2030.

  • Shams 1 Solar Power Station in Abu Dhabi's Al Dhafra region. Photo: Masdar
    Shams 1 Solar Power Station in Abu Dhabi's Al Dhafra region. Photo: Masdar
  • Shams 1 opened in 2013 and generates enough electricity to power tens of thousands of homes. Photo: Masdar
    Shams 1 opened in 2013 and generates enough electricity to power tens of thousands of homes. Photo: Masdar
  • Shams uses 'parabolic trough' systems, meaning it directs heat on to liquid, which causes steam that then drives a turbine. Photo: Masdar
    Shams uses 'parabolic trough' systems, meaning it directs heat on to liquid, which causes steam that then drives a turbine. Photo: Masdar
  • Dr Sultan Al Jaber announces the Shams 1 project back in 2010. Stephen Lock / The National
    Dr Sultan Al Jaber announces the Shams 1 project back in 2010. Stephen Lock / The National
  • Cirata, a floating solar plant in Indonesia, expected to enter operation in 2022. Photo: Masdar
    Cirata, a floating solar plant in Indonesia, expected to enter operation in 2022. Photo: Masdar
  • Masdar helped thousands of people in Afghanistan to access power though solar rooftop panels. Photo: Masdar
    Masdar helped thousands of people in Afghanistan to access power though solar rooftop panels. Photo: Masdar
  • It was the first time thousands of Afghan people had an electricity supply. Photo: Masdar
    It was the first time thousands of Afghan people had an electricity supply. Photo: Masdar
  • Masdar's rooftop project in Afghanistan. Photo: Masdar
    Masdar's rooftop project in Afghanistan. Photo: Masdar
  • The London Array, the world's largest offshore wind farm in the Thames Estuary off the coast of the UK. Stephen Lock / The National
    The London Array, the world's largest offshore wind farm in the Thames Estuary off the coast of the UK. Stephen Lock / The National
  • Another view of the London Array. Stephen Lock / The National
    Another view of the London Array. Stephen Lock / The National
  • A model of Masdar City, which champions sustainable living. Pawan Singh / The National
    A model of Masdar City, which champions sustainable living. Pawan Singh / The National
  • The opening of Shams 1 in 2013. Silvia Razgova / The National
    The opening of Shams 1 in 2013. Silvia Razgova / The National
  • The Shams 1 plant was one of the first concentrated solar power plants in the region. Christopher Pike / The National
    The Shams 1 plant was one of the first concentrated solar power plants in the region. Christopher Pike / The National
  • Irena's headquarters in Masdar City, Abu Dhabi. Wam
    Irena's headquarters in Masdar City, Abu Dhabi. Wam
  • Dr Al Jaber is leading the charge to a greener tomorrow. Mona Al Marzooqi / The National
    Dr Al Jaber is leading the charge to a greener tomorrow. Mona Al Marzooqi / The National

We also managed to bring down the cost of solar generation. Globally, the solar price has decreased from about 17 cents/kilowatt-hour in 2013 to less than 4.5 cents/KWh in 2023. This decrease in global solar cost, an abundance of the resource and conducive business incentives have recently resulted in the UAE having one of the lowest solar tariffs in the world, at 1.35 cents/KWh.

Our efforts to invest in renewables go side-by-side with our work to green the oil and gas sector. As we are in a transition, oil and gas will still be in demand for the next few decades, so we are doing our best to decarbonise the sector and produce the cleanest barrel in the world.

Our oil and gas sector has been at the global forefront of adopting climate-friendly industry practices. For instance, Abu Dhabi National Oil Company (Adnoc) is a pioneer in adopting sustainable practices and has a robust decarbonisation plan towards achieving its net-zero commitment by 2045 and zero methane emissions by 2030. It is the first company among its peers to make such a commitment, reinforcing its position as a responsible energy provider.

Since January 2022, Adnoc has powered its entire grid supply from nuclear and solar energy sources. It has also been an early mover in carbon capture, utilisation and storage (CCUS). It has operated the region’s first commercial-scale CCUS facility, with the capacity to capture 800,000 tonnes of CO2 annually, at Al Reyadah since 2016. The company plans to expand its CCUS activities to capture 10 million tonnes of CO2 every year by 2030.

Having adopted a zero-flaring policy in routine operations, our oil and gas companies are regional leaders in flaring avoidance design and operation. They leverage state-of-the-art technologies to monitor and reduce fugitive emissions across the value chain, and they continue to build on these achievements.

The story of the UAE and how it became a sustainability model is worth telling. At Cop28, we aim to share our experiences with the world. I truly believe that there is plenty that we can learn from each other. This planet is our home. When each one of us does our part, we can keep our home beautiful, green and clean.

THE BIO

Favourite car: Koenigsegg Agera RS or Renault Trezor concept car.

Favourite book: I Am Pilgrim by Terry Hayes or Red Notice by Bill Browder.

Biggest inspiration: My husband Nik. He really got me through a lot with his positivity.

Favourite holiday destination: Being at home in Australia, as I travel all over the world for work. It’s great to just hang out with my husband and family.

 

 

What can victims do?

Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

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COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

Specs

Engine: Dual-motor all-wheel-drive electric

Range: Up to 610km

Power: 905hp

Torque: 985Nm

Price: From Dh439,000

Available: Now

BACK%20TO%20ALEXANDRIA
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ETamer%20Ruggli%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ENadine%20Labaki%2C%20Fanny%20Ardant%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3.5%2F5%3C%2Fp%3E%0A
The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

The specs
Engine: 4.0-litre flat-six
Power: 510hp at 9,000rpm
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Price: From Dh801,800
Brief scores:

Scotland 371-5, 50 overs (C MacLeod 140 no, K Coetzer 58, G Munsey 55)

England 365 all out, 48.5 overs (J Bairstow 105, A Hales 52; M Watt 3-55)

Result: Scotland won by six runs

Profile

Company: Justmop.com

Date started: December 2015

Founders: Kerem Kuyucu and Cagatay Ozcan

Sector: Technology and home services

Based: Jumeirah Lake Towers, Dubai

Size: 55 employees and 100,000 cleaning requests a month

Funding:  The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups. 

ANDROID%20VERSION%20NAMES%2C%20IN%20ORDER
%3Cp%3EAndroid%20Alpha%3C%2Fp%3E%0A%3Cp%3EAndroid%20Beta%3C%2Fp%3E%0A%3Cp%3EAndroid%20Cupcake%3C%2Fp%3E%0A%3Cp%3EAndroid%20Donut%3C%2Fp%3E%0A%3Cp%3EAndroid%20Eclair%3C%2Fp%3E%0A%3Cp%3EAndroid%20Froyo%3C%2Fp%3E%0A%3Cp%3EAndroid%20Gingerbread%3C%2Fp%3E%0A%3Cp%3EAndroid%20Honeycomb%3C%2Fp%3E%0A%3Cp%3EAndroid%20Ice%20Cream%20Sandwich%3C%2Fp%3E%0A%3Cp%3EAndroid%20Jelly%20Bean%3C%2Fp%3E%0A%3Cp%3EAndroid%20KitKat%3C%2Fp%3E%0A%3Cp%3EAndroid%20Lollipop%3C%2Fp%3E%0A%3Cp%3EAndroid%20Marshmallow%3C%2Fp%3E%0A%3Cp%3EAndroid%20Nougat%3C%2Fp%3E%0A%3Cp%3EAndroid%20Oreo%3C%2Fp%3E%0A%3Cp%3EAndroid%20Pie%3C%2Fp%3E%0A%3Cp%3EAndroid%2010%20(Quince%20Tart*)%3C%2Fp%3E%0A%3Cp%3EAndroid%2011%20(Red%20Velvet%20Cake*)%3C%2Fp%3E%0A%3Cp%3EAndroid%2012%20(Snow%20Cone*)%3C%2Fp%3E%0A%3Cp%3EAndroid%2013%20(Tiramisu*)%3C%2Fp%3E%0A%3Cp%3EAndroid%2014%20(Upside%20Down%20Cake*)%3C%2Fp%3E%0A%3Cp%3EAndroid%2015%20(Vanilla%20Ice%20Cream*)%3C%2Fp%3E%0A%3Cp%3E%3Cem%3E*%20internal%20codenames%3C%2Fem%3E%3C%2Fp%3E%0A
Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

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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.”

Top investing tips for UAE residents in 2021

Build an emergency fund: Make sure you have enough cash to cover six months of expenses as a buffer against unexpected problems before you begin investing, advises Steve Cronin, the founder of DeadSimpleSaving.com.

Think long-term: When you invest, you need to have a long-term mindset, so don’t worry about momentary ups and downs in the stock market.

Invest worldwide: Diversify your investments globally, ideally by way of a global stock index fund.

Is your money tied up: Avoid anything where you cannot get your money back in full within a month at any time without any penalty.

Skip past the promises: “If an investment product is offering more than 10 per cent return per year, it is either extremely risky or a scam,” Mr Cronin says.

Choose plans with low fees: Make sure that any funds you buy do not charge more than 1 per cent in fees, Mr Cronin says. “If you invest by yourself, you can easily stay below this figure.” Managed funds and commissionable investments often come with higher fees.

Be sceptical about recommendations: If someone suggests an investment to you, ask if they stand to gain, advises Mr Cronin. “If they are receiving commission, they are unlikely to recommend an investment that’s best for you.”

Get financially independent: Mr Cronin advises UAE residents to pursue financial independence. Start with a Google search and improve your knowledge via expat investing websites or Facebook groups such as SimplyFI. 

The specs

Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder

Power: 220 and 280 horsepower

Torque: 350 and 360Nm

Transmission: eight-speed automatic

Price: from Dh136,521 VAT and Dh166,464 VAT 

On sale: now

The Vile

Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah

Director: Majid Al Ansari

Rating: 4/5

 

 

Name: Peter Dicce

Title: Assistant dean of students and director of athletics

Favourite sport: soccer

Favourite team: Bayern Munich

Favourite player: Franz Beckenbauer

Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates 

 

IF YOU GO
 
The flights: FlyDubai offers direct flights to Catania Airport from Dubai International Terminal 2 daily with return fares starting from Dh1,895.
 
The details: Access to the 2,900-metre elevation point at Mount Etna by cable car and 4x4 transport vehicle cost around €57.50 (Dh248) per adult. Entry into Teatro Greco costs €10 (Dh43). For more go to www.visitsicily.info

 Where to stay: Hilton Giardini Naxos offers beachfront access and accessible to Taormina and Mount Etna. Rooms start from around €130 (Dh561) per night, including taxes.

AGL AWARDS

Golden Ball - best Emirati player: Khalfan Mubarak (Al Jazira)
Golden Ball - best foreign player: Igor Coronado (Sharjah)
Golden Glove - best goalkeeper: Adel Al Hosani (Sharjah)
Best Coach - the leader: Abdulaziz Al Anbari (Sharjah)
Fans' Player of the Year: Driss Fetouhi (Dibba)
Golden Boy - best young player: Ali Saleh (Al Wasl)
Best Fans of the Year: Sharjah
Goal of the Year: Michael Ortega (Baniyas)

Company profile

Name:​ One Good Thing ​

Founders:​ Bridgett Lau and Micheal Cooke​

Based in:​ Dubai​​ 

Sector:​ e-commerce​

Size: 5​ employees

Stage: ​Looking for seed funding

Investors:​ ​Self-funded and seeking external investors

F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

BMW M5 specs

Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor

Power: 727hp

Torque: 1,000Nm

Transmission: 8-speed auto

Fuel consumption: 10.6L/100km

On sale: Now

Price: From Dh650,000

THE BIO

Occupation: Specialised chief medical laboratory technologist

Age: 78

Favourite destination: Always Al Ain “Dar Al Zain”

Hobbies: his work  - “ the thing which I am most passionate for and which occupied all my time in the morning and evening from 1963 to 2019”

Other hobbies: football

Favorite football club: Al Ain Sports Club

 

LEADERBOARD
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How to wear a kandura

Dos

  • Wear the right fabric for the right season and occasion 
  • Always ask for the dress code if you don’t know
  • Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work 
  • Wear 100 per cent cotton under the kandura as most fabrics are polyester

Don’ts 

  • Wear hamdania for work, always wear a ghutra and agal 
  • Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying

Racecard:
2.30pm: Hamdan bin Rashid Al Maktoun Emirates Breeders Society Challenge; Conditions (PA); Dh40,000; 1,600m
3pm: Handicap; Dh80,000; 1,800m
3.30pm: Jebel Ali Mile Prep Rated Conditions; Dh110,000; 1,600m
4pm: Handicap; Dh95,000; 1,950m
4.30pm: Maiden; Dh65,000; 1,400m
5pm: Handicap; Dh85,000; 1,200m

Points to remember
  • Debate the issue, don't attack the person
  • Build the relationship and dialogue by seeking to find common ground
  • Express passion for the issue but be aware of when you're losing control or when there's anger. If there is, pause and take some time out.
  • Listen actively without interrupting
  • Avoid assumptions, seek understanding, ask questions
Updated: November 30, 2023, 6:43 AM