Sharjah’s environment and waste management company is deploying more solar-powered bins this year. Thaer Zriqat / The National
Sharjah’s environment and waste management company is deploying more solar-powered bins this year. Thaer Zriqat / The National
Sharjah’s environment and waste management company is deploying more solar-powered bins this year. Thaer Zriqat / The National
Sharjah’s environment and waste management company is deploying more solar-powered bins this year. Thaer Zriqat / The National

Adopting a circular economy will help the UAE to grow and set an example for others to follow


  • English
  • Arabic

As the UAE continues to cement its position as a modern, progressive Arab state that has taken a leadership role in facilitating sustainable development, there is much to be proud of. No one can deny that we have come a long way in a very short space of time and that our lives have improved immeasurably in just a few generations.

We cannot, however, allow our successes to obscure the fact that we face great challenges if we are to build on our position of strength, in order to ensure a sustainable future for this country. The first step to delivering such a future lies in the adoption of a circular economy, as advocated in the UAE Vision 2021 national agenda. This will support social and economic growth that is in alignment with environmental objectives.

There are a number of key principles that will support the establishment of a circular economy in the UAE. Firstly, waste needs to be diverted away from landfill and reintegrated into the economy by recycling, repurposing or refurbishing.

In a circular economy, businesses, statutory authorities and individuals seek to maximise the inherent usefulness, as well as the value, of the energy that has been invested in a product, before eventually reintegrating it back into the economy. When an item reaches the end of its useful life, through reintegration, it can become the input to create new cash flow and enhance natural capital, instead of adding to the insurmountable issue of waste disposal. Eventually all products will be designed and built with reintegration in mind, but until such time as this happens, it is up to us to develop new and creative ways of using the vast array of materials which surround us.

Secondly, a new approach needs to be adopted to the generation of clean energy, which concentrates on both natural renewable sources and innovative new technologies, such as converting waste into energy.

Powering the economy through clean sources of energy is pivotal to the adoption of a model of restoration. Conventional sources of energy follow a linear model, where energy is produced, used and then disposed, without adding further value. However, renewable sources of energy like wind and solar are regenerative by design and negate the need to consume finite resources. In diversifying our energy portfolio, we can also adopt innovative sources of energy that serve multi-fold purposes. While some types of waste might be usefully repaired, recycled or repurposed, non-recyclable waste is usually diverted to landfill, ensuing in the loss of energy and value contained in these materials. Waste-to-energy offers great potential in the treatment of such materials by using them to generate energy, thus ensuring diversion from landfill, in addition to supplying clean energy.

_______________________

Read more from Opinion

Adnan Amin: The falling cost of renewables brings new economic opportunity to the Gulf

Razan Al Mubarak: The Arabian Gulf is a living system that we need to preserve

Afshin Molavi: One of the defining features of our century will be the rise of the Asian city

Saeed Mohammed Al Tayer:  It will require concerted effort to achieve a sustainable future

_______________________

The third principle for the adoption of a circular economy that is sustainable socially, economically and environmentally, is to drive public engagement and commitment towards addressing this common cause.

To make a circular economy work requires a holistic approach, which includes a heavy emphasis on education within schools as well as other initiatives which engage and educate the general population. It is vital that every member of society understands what is expected of them, in terms of behaviour around energy consumption, waste disposal and recycling. This necessitates a long-term approach to education and public engagement that is supported by our government on a national basis. Our experience suggests that a willingness to adopt more sustainable ways of living already exists within the general population. It is therefore up to us and others in a similar position, to harness and nurture that desire to do what is right for the environment and ensure we convert it into positive action.

Finally, a sustainable, circular economy will need transitioning towards sustainable consumption patterns. Globally, rampant consumerism is leading to sky high levels of consumption, in both the developed and developing world.  These levels of consumption are, in turn, distorting and destabilising what should be a balanced relationship between how things are made, consumed and disposed of. In the past, excessive consumption was viewed as a driver for economic growth. However, it is increasingly being recognised that this type of growth triggers resource depletion and climate change. In order to ensure effective functioning of the ecosystem and to maximise the yield of our resources, consumption should be regulated to meet needs and not wants.

Industry leaders should envision and embrace a system that creates products with longer consumption life cycles, and the potential for recovery at the end of its useful life. In terms of manufacturing, this offers opportunities for innovation and creativity in product development, as well as sustainable sources for raw materials. A symbiotic relationship between waste management establishments, green energy providers and the wider business community is required to ensure the shift to a circular economy.

It is an irrefutable fact that the challenges that lie ahead are significant. However, under the UAE's wise leadership, supported by the resilient spirit of our people, the nation has, and will continue to excel in its attempts to lead positive change in the region. This leadership is exemplified at major gatherings such as Abu Dhabi Sustainability Week, which brings together leaders from across government, business and academia, providing a vital platform for sharing knowledge and agreeing shared action. As a rapidly growing country, the UAE's adoption of a circular economy will enable us to sustain this growth, while setting an example for many others to follow.

Khaled Al Huraimel is group CEO of Bee’ah. The environmental management company will be participating in the Waste Management Solutions Forum during Abu Dhabi Sustainability Week 

In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

How it works

A $10 hand-powered LED light and battery bank

Device is operated by hand cranking it at any time during the day or night 

The charge is stored inside a battery

The ratio is that for every minute you crank, it provides 10 minutes light on the brightest mode

A full hand wound charge is of 16.5minutes 

This gives 1.1 hours of light on high mode or 2.5 hours of light on low mode

When more light is needed, it can be recharged by winding again

The larger version costs between $18-20 and generates more than 15 hours of light with a 45-minute charge

No limit on how many times you can charge

 

ANATOMY%20OF%20A%20FALL
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EJustine%20Triet%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ESandra%20Huller%2C%20Swann%20Arlaud%2C%20Milo%20Machado-Graner%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%205%2F5%3C%2Fp%3E%0A

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.”

How%20champions%20are%20made
%3Cp%3E%0D%3Cstrong%3EDiet%3C%2Fstrong%3E%20%0D%3Cbr%3E7am%20-%20Protein%20shake%20with%20oats%20and%20fruits%0D%3Cbr%3E10am%20-%205-6%20egg%20whites%0D%3Cbr%3E1pm%20-%20White%20rice%20or%20chapati%20(Indian%20bread)%20with%20chicken%0D%3Cbr%3E4pm%20-%20Dry%20fruits%20%0D%3Cbr%3E7.30pm%20-%20Pre%20workout%20meal%20%E2%80%93%20grilled%20fish%20or%20chicken%20with%20veggies%20and%20fruits%0D%3Cbr%3E8.30pm%20to%20midnight%20workout%0D%3Cbr%3E12.30am%20%E2%80%93%20Protein%20shake%20%0D%3Cbr%3E%3Cstrong%3ETotal%20intake%3A%3C%2Fstrong%3E%204000-4500%20calories%20%0D%3Cbr%3E%3Cstrong%3ESaidu%E2%80%99s%20weight%3A%3C%2Fstrong%3E%20110%20kg%0D%3Cbr%3E%3Cstrong%3EStats%3A%3C%2Fstrong%3E%20Biceps%2019%20inches.%20Forearms%2018%20inches%3C%2Fp%3E%0A
Specs

Engine: Dual-motor all-wheel-drive electric

Range: Up to 610km

Power: 905hp

Torque: 985Nm

Price: From Dh439,000

Available: Now

Nepotism is the name of the game

Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad. 

MATCH INFO

Everton v Tottenham, Sunday, 8.30pm (UAE)

Match is live on BeIN Sports

KEY HIGHLIGHTS

Healthcare spending to double to $2.2 trillion rupees

Launched a 641billion-rupee federal health scheme

Allotted 200 billion rupees for the recapitalisation of state-run banks

Around 1.75 trillion rupees allotted for privatisation and stake sales in state-owned assets