One global perception of the UAE commonly held can often be contrary to the reality. While often portrayed as the land of skyscrapers and oil wealth, the UAE should equally be known for its diverse environmental ecosystems. Be it marine and coastal, desert, wetlands or the mountains, each of the seven emirates is home to vast natural reserves that have been nurtured and maintained due to a long-held country-wide focus on sustainability, biodiversity and ecological conservation.
Be it Sharjah’s Wasit Wetland Centre or Dubai’s Ras Al Khor Wildlife Sanctuary, there are numerous conservation projects that are central to the country’s ecological identity and form a part of the country’s climate action strategy in one way or another.
Last week, Abu Dhabi – already a frontrunner in the conservation sphere – took a landmark step in announcing at the end of the IUCN world conservation conference that one third of its land mass will comprise nature reserves. This is a bold move that aligns neatly with the country’s vision to prepare for the future and take steps to tackle climate change.
Abu Dhabi has long chosen the path of maintaining the ecological balance, given the existence of Al Wathba Wetland Reserve, the Mangrove National Park or the wildlife reserve on Sir Bani Yas Island, among several other green spaces spread across the emirate.
The announcement is consistent with the UAE’s planning for the decades ahead, and in line with a growing Gulf trend. In 2023, the Gulf Co-operation Council countries showed a 6.6 per cent increase in the area of terrestrial reserves across member countries.
Environment and Protected Areas Authority in Sharjah, or the Environment Agency – Abu Dhabi (EAD), carry out regular patrols. Recreation or commercial activity in these areas require permissions or impact assessments. Laws often also regulate activities around reserves if those can affect the reserve’s environment-buffer zones.
Even around the world, there has been progress on this front as the international community appears to be on track to meet global targets. Last October, the UN said there had been headway on pledges to protect 30 per cent of the Earth by 2030 – what’s known as the “30x30” target.
But even as that signifies progress in a world worryingly beset by news of hottest summers on record, flashfloods and wildfires, it is of the utmost importance that the work of nurturing biodiversity anywhere in the world not stop merely at the demarcation of areas as reserved or protected.
In Abu Dhabi, there is little fear of that. For one, EAD, which will manage the 4,600 kms of newly designated reserves, is a well-established entity, with decades of experience and local know-how in the area of conservation and the protection of endangered species. The agency also works with local law enforcers in conducting inspections to support the country’s National Biodiversity Strategy 2031.
The strategy focuses on six key pillars, including the protection and monitoring of critical biodiversity areas and minimising the impact of climate change.
With an expanded area of land to become nature reserves, it is clear that Abu Dhabi, and indeed the UAE, even as it caters to the demand of a growing population, is opting for a more sustainable path than one of unfettered development at the cost of the environment.
How to improve Arabic reading in early years
One 45-minute class per week in Standard Arabic is not sufficient
The goal should be for grade 1 and 2 students to become fluent readers
Subjects like technology, social studies, science can be taught in later grades
Grade 1 curricula should include oral instruction in Standard Arabic
First graders must regularly practice individual letters and combinations
Time should be slotted in class to read longer passages in early grades
Improve the appearance of textbooks
Revision of curriculum should be undertaken as per research findings
Conjugations of most common verb forms should be taught
Systematic learning of Standard Arabic grammar
Breast cancer in men: the facts
1) Breast cancer is men is rare but can develop rapidly. It usually occurs in those over the ages of 60, but can occasionally affect younger men.
2) Symptoms can include a lump, discharge, swollen glands or a rash.
3) People with a history of cancer in the family can be more susceptible.
4) Treatments include surgery and chemotherapy but early diagnosis is the key.
5) Anyone concerned is urged to contact their doctor
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.”
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