At the Cop27 climate change summit, one visitor to Sharm El Sheikh had a much more ambitious target on his mind than net zero.
Peter Fiekowsky does not just want to see a reduction in carbon emissions, but is keen for large-scale efforts to be made to remove greenhouse gases from the atmosphere.
The author and campaigner, who says current emissions targets are suicidal, in 2018 set up the Foundation for Climate Restoration, which advocates a multi-pronged strategy to bring carbon dioxide and methane levels down significantly by the middle of this century.
There’s very little chance, almost no chance, that humanity as we know it will survive that condition
Peter Fiekowsky,
author and climate campaigner
"If we follow the UN target, the CO2 level will be 55 per cent higher than humans have ever survived, and the warming will be very high," said Mr Fiekowsky, a Massachusetts Institute of Technology-educated resident of Silicon Valley who visited Sharm El Sheikh to spread awareness about his approach.
"There’s very little chance, almost no chance, that humanity as we know it will survive that condition. It’s that simple."
Before the Industrial Revolution, the CO2 concentration in the atmosphere was about 280 parts per million (ppm). With about 1.5 trillion tonnes of CO2 having been released by human activity, the US government’s National Oceanic and Atmospheric Administration measured the concentration this year to be about 421ppm, up about 1.8ppm on 2021.
Multi-pronged strategy
Mr Fiekowsky said that several measures could, together, bring down the figure to below 300ppm by 2050. By the end of the century, it could be about 260 or 270ppm, which he said could help to reverse ecological damage caused by climate change. An additional technique could reduce methane in the atmosphere.
One method is ocean iron fertilisation, which involves adding "extremely small quantities" of iron to the seas from ships. This promotes the growth of photosynthetic organisms that capture carbon.
"You do it in the right place, at the right time and at the right concentration, then you can get very rapid photosynthesis and sequestration," he said
Related to this, with seaweed permaculture, nutrient-rich water is pumped into the oceans at a low level. Kelp could be grown in these areas, about half of which could be harvested ― producing revenue to finance the operation ― while the rest sinks, taking its carbon with it for the long term.
A third approach is pioneered by a Californian company, Blue Planet Systems, which uses waste concrete and CO2, which could be from iron and steel plants or other industrial facilities, to produce synthetic limestone, which is suitable for construction.
Finally, methane oxidation employs iron chloride evaporated into ship exhausts to produce tiny aerosols in the atmosphere. Sunlight releases chlorine, which oxidises methane, converting this potent greenhouse gas into water and carbon dioxide.
This year, Fiekowsky and Carole Douglis detailed these approaches in a book, Climate Restoration: The Only Future That Will Sustain The Human Race.
Also this year, Mr Fiekowsky helped to create the Climate Restoration Safety and Governance Board, which reviews and approves projects "capable of making a significant impact towards restoring global CO2 and methane levels".
Mr Fiekowsky hopes that efforts could be funded by family offices, which are institutions set up by wealthy individuals, often businesspeople, to manage their personal financial assets.
"From what I can see right now, governments have shown no interest whatsoever and universities have shown no interest whatsoever. They have to speak to their current constituencies, not to future generations," he said.
Asher Minns, executive director of the Tyndall Centre for Climate Research at the University of East Anglia in the UK, said the need to remove greenhouse gases is "becoming ever more urgent", so all potential approaches should be looked at.
He said it was likely that "a huge investment on a grand scale" in "lots of different technologies" would be needed to reverse the growth in atmospheric CO2 levels.
Approaches must prevent greenhouse gases from leaking back into the atmosphere and should, Mr Minns said, be thoroughly tested to avoid "unforeseen consequences" when used.
"It’s common [that when] mankind tries to fix a problem, it causes problems elsewhere," he said. "Most solutions are purely theoretical and untested, certainly untested at the scale and costs needed."
Mr Fiekowsky said that trials indicate that any unforeseen consequences from his approaches are more likely to be positive than negative, and is confident that his combination of approaches could restore the climate.
"The general public is very receptive," he said. "We all have our children and grandchildren we’re concerned about. I get a certain amount of pushback from the scientific community, because what we’re doing is not predictable. The scientists push back, but the scientists as parents love it."
Climate change around the world - in pictures
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
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Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
All Black 39-12 British & Irish Lions
'HIJRAH%3A%20IN%20THE%20FOOTSTEPS%20OF%20THE%20PROPHET'
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Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
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
Springsteen: Deliver Me from Nowhere
Director: Scott Cooper
Starring: Jeremy Allen White, Odessa Young, Jeremy Strong
Rating: 4/5
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
The specs: 2018 Jeep Grand Cherokee Trackhawk
Price, base: Dh399,999
Engine: Supercharged 6.2-litre V8
Gearbox: Eight-speed automatic
Power: 707hp @ 6,000rpm
Torque: 875Nm @ 4,800rpm
Fuel economy, combined: 16.8L / 100km (estimate)
The stats
Ship name: MSC Bellissima
Ship class: Meraviglia Class
Delivery date: February 27, 2019
Gross tonnage: 171,598 GT
Passenger capacity: 5,686
Crew members: 1,536
Number of cabins: 2,217
Length: 315.3 metres
Maximum speed: 22.7 knots (42kph)
MATCH INFO
Uefa Champions League semi-final, second leg result:
Ajax 2-3 Tottenham
Tottenham advance on away goals rule after tie ends 3-3 on aggregate
Final: June 1, Madrid