Renewable energy technologies create jobs up and down the supply chain, spurring sustainable socioeconomic development. Getty
Renewable energy technologies create jobs up and down the supply chain, spurring sustainable socioeconomic development. Getty
Renewable energy technologies create jobs up and down the supply chain, spurring sustainable socioeconomic development. Getty
Renewable energy technologies create jobs up and down the supply chain, spurring sustainable socioeconomic development. Getty

This is the Paris Agreement's moment


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After almost five years of negotiating, posturing and making adjustments to "Nationally Determined Contributions" goals, the time for implementation and action on climate must be now. This is the only way for us to reach the Paris Agreement’s headline goal of limiting global warming to below 2°C compared with pre-industrial levels.

We have arrived at a once-in-a-multi-generational crossroads. Unlike most metaphorical junctions, we have a good idea of what we can expect from whichever track we choose to travel. Put simply, future economic stability and social mobility will stem from the path laid out by the global energy transition and not from an extension of the old energy systems.

Ten years out from both the UN’s Sustainable Development Goals and the headline goal of the Paris accord of reducing greenhouse gas emissions by at least 40 per cent, there is suddenly renewed wind in our sails and gathering momentum, with the US officially re-joining the accord last month.

It is difficult to overstate the significance of the Biden administration’s decision to re-join Paris. Having the world’s second-biggest energy producer as an integral part of the accord is more than a symbolic commitment to making energy greener and cleaner. It sends a signal to the rest of the international community that we are all well and truly in this together. And, as businesses and markets have demonstrated over the years, momentum and sentiment are critical to moving industries in the right direction.

As John Kerry, the US Special Presidential Envoy for Climate, said on the eve of America’s re-joining, this year is the “last, best hope we have” of getting the world back on track and avoiding disastrous, irreversible climate damage. This year’s UN Climate Change Conference, known as "Cop26", is scheduled to take place in Glasgow in November. It has become the “North Star” for the renewable energy international community, alongside many other key stakeholders in the climate change dialogue, as we prepare for the net zero emissions race that start this year and run across the decade.

The UAE is keenly aligned with the US’s renewed stance on climate change and the global energy transition. Dr Sultan Al Jaber, the UAE’s Special Envoy for Climate Change and Minister of Industry and Advanced Technology, met Mr Kerry virtually in February to outline how the two countries will work closer than ever in the run up to, and beyond, Cop26 to combat climate change together, while optimising the significant opportunities for growth, diversification and job creation in both countries.

In this context, Cop26 might prove to be the most significant meeting of the climate change conference to date, as it seeks to turn words into actions. This is also reflective of the kind of positive, impactful changes being made by the International Renewable Energy Agency’s (Irena) member states.

Despite some of the sceptical rhetoric in circulation since the Paris Agreement was officially signed in November 2016, it has been encouraging to see so many Irena member states, both developed and developing, double down in their commitments to achieving a low carbon pathway. And now that the discourse is more unified, and back on track, there should be nothing stopping us from achieving our goals.

Indeed, with a greater sense of urgency and understanding of the moment each year, Irena’s member states have updated their climate pledges to show a greater recognition that renewables are a central solution and feasible opportunity to diversify and sustain our economies.

While there has been resistance, perhaps even some pushback, in previous years, the scepticism has all but faded entirely as the evidence becomes clearer every day: renewables will offer the jobs, sustainability and stability we desperately need as we build back from the coronavirus pandemic.

Renewable energy technologies create jobs up and down the supply chain. They will spur wide-reaching, sustainable socioeconomic development. Indeed, according to Irena’s ‘2019 Renewable Energy and Jobs’ report, renewables accounted for an estimated 11.5 million jobs worldwide that year – up from 11 million the previous year.

What’s more, accelerated uptake of renewables could boost total energy jobs to 100 million by 2050. And jobs in renewables could reach 42 million by 2050, some 62 per cent more than under current plans, the latest data from the report issued last September suggests.

This is not an emotive argument. It is a fact-driven, scientific approach to carving out the guiding principles of a better future. Nowhere has this case been championed with greater vigour than here in the UAE, where the Ministry of Climate Change and Environment has consolidated the Emirates’ status as a key player in global efforts to collectively combat climate change through establishing a comprehensive local mitigation and adaptation framework, based on the scientific sense of the global energy transition.

This brings me back to the reason for Irena’s establishment, which was to find ways to best communicate the benefits of the global energy transition to an international community comprised of a wide variety of stakeholders. We discovered that we are more effective when we focus on the potential benefits of what we do. This is because everyone – policymakers, businesses and citizens – responds better to positive potential than to divisive rhetoric and fears.

I truly believe that the 2020s will be the decade in which we make a sustainable future not only possible but realised.

Dr Nawal Al-Hosany is a permanent representative of the UAE to the International Renewable Energy Agency

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What drives subscription retailing?

Once the domain of newspaper home deliveries, subscription model retailing has combined with e-commerce to permeate myriad products and services.

The concept has grown tremendously around the world and is forecast to thrive further, according to UnivDatos Market Insights’ report on recent and predicted trends in the sector.

The global subscription e-commerce market was valued at $13.2 billion (Dh48.5bn) in 2018. It is forecast to touch $478.2bn in 2025, and include the entertainment, fitness, food, cosmetics, baby care and fashion sectors.

The report says subscription-based services currently constitute “a small trend within e-commerce”. The US hosts almost 70 per cent of recurring plan firms, including leaders Dollar Shave Club, Hello Fresh and Netflix. Walmart and Sephora are among longer established retailers entering the space.

UnivDatos cites younger and affluent urbanites as prime subscription targets, with women currently the largest share of end-users.

That’s expected to remain unchanged until 2025, when women will represent a $246.6bn market share, owing to increasing numbers of start-ups targeting women.

Personal care and beauty occupy the largest chunk of the worldwide subscription e-commerce market, with changing lifestyles, work schedules, customisation and convenience among the chief future drivers.

Buy farm-fresh food

The UAE is stepping up its game when it comes to platforms for local farms to show off and sell their produce.

In Dubai, visit Emirati Farmers Souq at The Pointe every Saturday from 8am to 2pm, which has produce from Al Ammar Farm, Omar Al Katri Farm, Hikarivege Vegetables, Rashed Farms and Al Khaleej Honey Trading, among others. 

In Sharjah, the Aljada residential community will launch a new outdoor farmers’ market every Friday starting this weekend. Manbat will be held from 3pm to 8pm, and will host 30 farmers, local home-grown entrepreneurs and food stalls from the teams behind Badia Farms; Emirates Hydroponics Farms; Modern Organic Farm; Revolution Real; Astraea Farms; and Al Khaleej Food. 

In Abu Dhabi, order farm produce from Food Crowd, an online grocery platform that supplies fresh and organic ingredients directly from farms such as Emirates Bio Farm, TFC, Armela Farms and mother company Al Dahra. 

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Skoda Superb Specs

Engine: 2-litre TSI petrol

Power: 190hp

Torque: 320Nm

Price: From Dh147,000

Available: Now

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

Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

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Wicked: For Good

Director: Jon M Chu

Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater

Rating: 4/5

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UK's plans to cut net migration

Under the UK government’s proposals, migrants will have to spend 10 years in the UK before being able to apply for citizenship.

Skilled worker visas will require a university degree, and there will be tighter restrictions on recruitment for jobs with skills shortages.

But what are described as "high-contributing" individuals such as doctors and nurses could be fast-tracked through the system.

Language requirements will be increased for all immigration routes to ensure a higher level of English.

Rules will also be laid out for adult dependants, meaning they will have to demonstrate a basic understanding of the language.

The plans also call for stricter tests for colleges and universities offering places to foreign students and a reduction in the time graduates can remain in the UK after their studies from two years to 18 months.

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

Call of Duty: Black Ops 6

Developer: Treyarch, Raven Software
Publisher:  Activision
Console: PlayStation 4 & 5, Windows, Xbox One & Series X/S
Rating: 3.5/5

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The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
The specs

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now