The UAE is hosting the world’s biggest opportunity to make meaningful progress on climate change: the 2023 UN Climate Change Conference, Cop28. And for the first time in the history of the conference, mayors and governors will have a formal role in the proceedings.
That change reflects a growing awareness among national and international leaders of the critical role that cities play in driving down emissions and building climate resilience – and Dubai is a leading example of both.
Consider that earlier this year, the UAE witnessed a surge in temperature, topping 50°C. The likelihood of continued extreme heat means that Dubai has had to become a pioneer in climate change innovation. Today Dubai is a city-sized laboratory, working to create conditions where humans can not only live, but thrive.
Right in the heart of our city, the Dubai World Trade Centre has become a model for how to combine different climate and resilience measures – from extensive solar panelling to lower energy consumption, to revolutionary waste management.
Dubai is also running conservation and sustainability initiatives across its tourism ecosystem, and it has increased water usage efficiency and developed clean energy alternatives through its Carbon Abatement Strategy. In 2021 alone, the city reduced carbon emissions by more than 20 per cent, preventing millions of tonnes of carbon from polluting our atmosphere.
Dubai has also set targets to reduce the emissions of greenhouse gases by 50 per cent in 2030 and to achieve net-zero by 2050. The city will reduce emissions in power and water, road transportation, manufacturing and the waste sector to achieve its goals.
While Dubai has made great strides, the UAE federal government has accelerated its ambitions. In July, it raised its national emissions targets, planning to curb carbon emissions by 40 per cent by 2030. In the months ahead, the UAE will update its climate action plan based on the strategies and insights that emerge at Cop28.
Dubai is also home to Emirates Airlines, the largest carrier in the Middle East, which is also taking action to be more sustainable. Emirates recently conducted the first ever test flight of an Airbus A380 powered by 100 per cent Sustainable Aviation Fuel. Sustainable fuel, electric aviation and hydrogen-powered aviation are all being explored in Dubai and the UAE as pathways to decarbonising aviation.
To achieve the next round of climate targets, Dubai has already begun diversifying its energy sources. While the city’s history is closely tied to fossil fuels, it is building a new future by harnessing its most abundant natural resources: sunlight.
For a sense of what’s on the horizon, leaders attending Cop28 should consider visiting the Mohammed bin Rashid Al Maktoum Solar Park – among the world’s largest single-site solar parks. In June of this year, the solar park launched its fifth phase, with plans to add another 2.2 million photovoltaic panels that will produce as much as 900 megawatts of energy. And this is only the beginning. Once complete, the facility is expected to eliminate more than 6 million tonnes of carbon emissions every year.
This scaled foray into solar power has enabled other exciting energy innovations, too. For instance, Dubai has partnered with Siemens Energy to build the Middle East’s first hydrogen plant driven by renewables, a potentially game-changing development in the global energy sector. Industry leaders are hopeful that the UAE may eventually produce enough green hydrogen to export it to other nations.
This is more than a technological marvel. It can be a model for how businesses and local governments can work together on projects that are incredibly ambitious towards our global fight against climate change.
We recognise, of course, that many cities simply do not have the capacity (or weather) to scale state-of-the-art solar facilities. But the perceived limitations of any city – be it a dependence on cars, air-conditioning, or energy-intensive industries – does not disqualify anyone from climate action. If Dubai can begin transforming itself into a champion for solar energy, then cities worldwide should be just as bold in charting a more sustainable future.
To win the battle against climate change, it’s going to take leaders at every level working closer together than ever before. At the UN climate conference, with Dubai taking centre stage, cities have a historic opportunity to help lead the way.
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
PAST 10 BRITISH GRAND PRIX WINNERS
2016 - Lewis Hamilton (Mercedes-GP)
2015 - Lewis Hamilton (Mercedes-GP)
2014 - Lewis Hamilton (Mercedes-GP)
2013 - Nico Rosberg (Mercedes-GP)
2012 - Mark Webber (Red Bull Racing)
2011 - Fernando Alonso (Ferrari)
2010 - Mark Webber (Red Bull Racing)
2009 - Sebastian Vettel (Red Bull Racing)
2008 - Lewis Hamilton (McLaren)
2007 - Kimi Raikkonen (Ferrari)
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
Drishyam 2
Directed by: Jeethu Joseph
Starring: Mohanlal, Meena, Ansiba, Murali Gopy
Rating: 4 stars
COMPANY%20PROFILE
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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
Joker: Folie a Deux
Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson
Director: Todd Phillips
Rating: 2/5
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Haemoglobin disorders explained
Thalassaemia is part of a family of genetic conditions affecting the blood known as haemoglobin disorders.
Haemoglobin is a substance in the red blood cells that carries oxygen and a lack of it triggers anemia, leaving patients very weak, short of breath and pale.
The most severe type of the condition is typically inherited when both parents are carriers. Those patients often require regular blood transfusions - about 450 of the UAE's 2,000 thalassaemia patients - though frequent transfusions can lead to too much iron in the body and heart and liver problems.
The condition mainly affects people of Mediterranean, South Asian, South-East Asian and Middle Eastern origin. Saudi Arabia recorded 45,892 cases of carriers between 2004 and 2014.
A World Health Organisation study estimated that globally there are at least 950,000 'new carrier couples' every year and annually there are 1.33 million at-risk pregnancies.
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
RESULTS
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Winner: Shafaf, Sam Hitchcott (jockey), Ahmed Al Mehairbi (trainer)
5,30pm: Wathba Stallions Cup Handicap (PA) Dh70,000 1,200m
Winner: Noof KB, Tadhg O’Shea, Ernst Oertel
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Winner: Taamol, Jim Crowley, Ali Rashid Al Raihe
6.30pm: The President’s Cup Group One (PA) Dh2,500,000 2,200m
Winner: Rmmas, Tadhg O’Shea, Jean de Roualle
7pm: Arabian Triple Crown Listed (PA) Dh230,000 1,600m
Winner: Ihtesham, Szczepan Mazur, Ibrahim Al Hadhrami
7.30pm: Handicap (PA) Dh80,000 1,400m
Winner: AF Mekhbat, Antonio Fresu, Ernst Oertel
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
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