A year ago I believed that 2020 would be remembered for being the year when the world finally got its act together on climate action. The signs were all positive: public pressure was being matched by political will, targets were being put in place and footage of wildfires and storm damage were figuring high on the media agenda.
The pandemic put those hopes on hold. News of climate change was eclipsed by Covid-19. I do sincerely hope, however, that 2020 was just a bump in the road, a matter of opportunities delayed rather than thwarted. In fact, with the world pinning its hopes on a post-Covid ‘green recovery’ fuelled by infrastructure spending, I believe that this year we are looking at opportunities to enact real, long-term change and limit global warming to 1.5°C by the end of the century. Unchecked climate change, after all, will be far more devastating for the world than Covid-19.
The pandemic may well have focused our collective will. The global response to it – and particularly the speed at which vaccines were developed, tested and rolled out – shows that governments, businesses, investors and researchers can work together to ensure that resources can be allocated where they can be most effective.
It is my hope that this year’s Abu Dhabi Sustainability Week (ADSW) will be remembered as a platform through which we helped forge this collective will – with regard to the green recovery and to climate action. The sustainability week has for more than a decade now been one of the world's most recognised gatherings of its kind. This year, with ADSW being held virtually, the event aims to bring together more of the world’s most influential experts and leaders in sustainability and climate action than ever before.
We aim to reduce our carbon emissions by 23.5 per cent by 2030
We’re building on solid momentum. Between 2015 and 2020, solar and wind capacity around the world more than doubled – from less than 700GW to more than 1,400GW. By early 2020 renewable sources were accounting for 28 per cent of global energy generation. At the same time US President-elect Joe Biden, through his initiative Build Back Better, is putting sustainable infrastructure investment and clean energy transition at the top of his agenda. We had the honour of hosting Mr Biden at Masdar City, when he visited the UAE in 2016 and he expressed a keenness to enhance co-operation between the US and the UAE in clean energy.
For over a decade now, the UAE and Masdar have played a leading role in supporting climate action, both here and abroad.
At Masdar City, for example, we have created a sustainability ecosystem, which is home to more than 900 innovative enterprises from around the world and that allows new ideas to thrive. With partners including Taqa and EDF Renewables, we are proud to be part of the 2 gigawatts Al Dhafra solar project – a testament to the UAE’s commitment to clean energy.
This commitment was further reinforced recently, at the end of 2020, with the UAE’s leadership announcing we would reduce our carbon emissions by 23.5 per cent by 2030, in line with our commitment to the Paris Agreement. This translates into absolute emission reduction of about 70 million tonnes and will be achieved through: more clean energy capacity, as well as boosting energy efficiency, increasing carbon capture, promoting sustainable agriculture and implementing environment-friendly waste management.
In the UAE, our clean power capacity – including solar and nuclear – is set to meet the target of 14GW by 2030, increasing from just over 100 megawatts in 2015 and 2.4GW in 2020. Masdar pledged in 2019 to double the capacity of our generation portfolio, then at 4GW, within five years. In fact, we exceeded that target in 2020. Our portfolio, including operational projects and those under delivery, has a capacity of more than 10GW, displacing some 16 million tonnes of carbon emissions each year.
Any green recovery that is committed to mitigating climate change will require the highest levels of collaboration and partnership between countries, businesses, and societies – and here, too, we see opportunities in 2021. When it comes to technology, we must invest more into the potential energy sources of the future, such as green hydrogen, as well as find more efficient battery and storage solutions, develop smart grids and introduce mobility infrastructure such as charging stations.
The historic Abraham Accords between Israel and the UAE will bring about a new era of co-operation and co-investment in clean energy, among other opportunities. And at the end of this year, we at Masdar will be part of the UAE’s delegation to the UN climate talks, COP26, where progress must be made on drawing a roadmap to achieving the UN Sustainability Goals.
In 2021, the stakes may never have been higher, but the opportunities have never been greater.
Mohamed Jameel Al Ramahi is the chief executive of Masdar
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
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
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 247hp at 6,500rpm
Torque: 370Nm from 1,500-3,500rpm
Transmission: 10-speed auto
Fuel consumption: 7.8L/100km
Price: from Dh94,900
On sale: now
UAE currency: the story behind the money in your pockets
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
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
The Saudi Cup race card
1 The Jockey Club Local Handicap (TB) 1,800m (Dirt) $500,000
2 The Riyadh Dirt Sprint (TB) 1,200m (D) $1.500,000
3 The 1351 Turf Sprint 1,351m (Turf) $1,000,000
4 The Saudi Derby (TB) 1600m (D) $800,000
5 The Neom Turf Cup (TB) 2,100m (T) $1,000,000
6 The Obaiya Arabian Classic (PB) 2,000m (D) $1,900,000
7 The Red Sea Turf Handicap (TB) 3,000m (T) $2,500,000
8 The Saudi Cup (TB) 1,800m (D) $20,000,000
HIJRA
Starring: Lamar Faden, Khairiah Nathmy, Nawaf Al-Dhufairy
Director: Shahad Ameen
Rating: 3/5
Three trading apps to try
Sharad Nair recommends three investment apps for UAE residents:
- For beginners or people who want to start investing with limited capital, Mr Nair suggests eToro. “The low fees and low minimum balance requirements make the platform more accessible,” he says. “The user interface is straightforward to understand and operate, while its social element may help ease beginners into the idea of investing money by looking to a virtual community.”
- If you’re an experienced investor, and have $10,000 or more to invest, consider Saxo Bank. “Saxo Bank offers a more comprehensive trading platform with advanced features and insight for more experienced users. It offers a more personalised approach to opening and operating an account on their platform,” he says.
- Finally, StashAway could work for those who want a hands-off approach to their investing. “It removes one of the biggest challenges for novice traders: picking the securities in their portfolio,” Mr Nair says. “A goal-based approach or view towards investing can help motivate residents who may usually shy away from investment platforms.”
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
Game Changer
Director: Shankar
Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
MATCH INFO
Uefa Champions League final:
Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports
PROFILE OF HALAN
Started: November 2017
Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga
Based: Cairo, Egypt
Sector: transport and logistics
Size: 150 employees
Investment: approximately $8 million
Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar
Vidaamuyarchi
Director: Magizh Thirumeni
Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra
Rating: 4/5
THE BIO
Family: I have three siblings, one older brother (age 25) and two younger sisters, 20 and 13
Favourite book: Asking for my favourite book has to be one of the hardest questions. However a current favourite would be Sidewalk by Mitchell Duneier
Favourite place to travel to: Any walkable city. I also love nature and wildlife
What do you love eating or cooking: I’m constantly in the kitchen. Ever since I changed the way I eat I enjoy choosing and creating what goes into my body. However, nothing can top home cooked food from my parents.
Favorite place to go in the UAE: A quiet beach.
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
How to vote in the UAE
1) Download your ballot https://www.fvap.gov/
2) Take it to the US Embassy
3) Deadline is October 15
4) The embassy will ensure all ballots reach the US in time for the November 3 poll
UAE currency: the story behind the money in your pockets
