The international community is facing a crucial race against time to limit global warming as the countdown continues to the Cop28 environment summit in Dubai in November.
Dr Sultan Al Jaber, Cop28 President-designate and the UAE's special envoy on climate change, has said the world is “playing catch up” in its efforts to limit temperature rises to 1.5°C above pre-industrial levels.
The key goal was set out in the landmark Paris Agreement at Cop21 in 2015 and successes and failures in the intervening years will be put under the microscope at a global stocktake at the Dubai gathering.
In order to achieve this, global greenhouse gas emissions need to be curbed 45 per cent from 2010 levels by 2030 and by 2050 for the world to reach net zero, according to scientific consensus.
This means cutting emissions close to zero with the remainder reabsorbed by the atmosphere, such as by oceans and forests.
More than 70 countries, including the UAE, have set a net-zero target, but eight nations, rich in natural resources and with small populations, claim to have already reached that goal, according to research collated by Energy Monitor.
These “carbon sinks” absorb more carbon dioxide from the atmosphere each year than they emit.
The National takes a closer look at the forward-thinking countries leading the way.
Bhutan
Bhutan, a Buddhist nation east of the Himalayas that measures its success by its Gross National Happiness, was the first carbon-negative country, thanks to the government’s commitment to preserving its environment.
More than 70 per cent of its land is covered in trees and it has in its constitution a mandate to preserve 60 per cent of its territory as forest, but Bhutan also exports renewable hydroelectric power it generates from rivers.
In 1999, the country introduced “biological corridors” that allow wildlife to go between areas of protected land, preventing biodiversity loss, as well as letting species adapt to climate change.
Its latest targets and policies also include low emission development strategies in food security, human settlements, industries and surface transport.
Comoros
This volcanic archipelago off Africa’s east coast is a densely populated country, one of the world’s poorest, with about 800,000 inhabitants.
But what Comoros may lack in economic prowess it makes up for in environmental contribution, with carbon emissions in the negative since at least 2015, according to its government's reports.
Agriculture, fishing and livestock rearing account for about half its economy, all of which produce low emissions, and it has strict environmental protection policies in place.
This includes an emissions reduction target of 23 per cent and an increase of CO2 absorption by 47 per cent by 2030.
Gabon
The UN has previously referred to Gabon as a “model of environmental conservation”.
It is in the Congo Basin, the world’s second largest carbon sink after the Amazon, and almost 90 per cent of the Central African country’s surface is covered by forests.
Its government is strongly committed to preserving its untouched areas, with policies for non-deforestation and sustainable management of natural resources.
Guyana
The government of this English-speaking South American nation claimed to have reached its net-zero ambitions in 2021, and has said they plan to reduce emissions by 70 per cent come 2030.
This is thanks to Guyana's dense rainforest and despite it beginning to pump crude oil at the end of 2019.
“Though we recently became an oil producer, we support the removal of subsidies from fossil fuel production and advocate a strong global carbon price,” President Irfaan Ali said in 2021 at Cop26 in Glasgow.
Vice President Bharrat Jagdeo reiterated this sentiment last year, saying they believe they can continue to maintain their net-zero credentials while producing oil “because of the nature of our forest and the carbon sink”.
Madagascar
While this island in the Indian Ocean, whose economy relies on agriculture and fishing, is currently at net zero, it is thought by experts it may lose its status come 2030 if rampant deforestation continues.
The country has seen a quarter of the country’s forest cover disappear since 2000, according to Global Forest Watch.
Madagascar has one of the world’s most diverse ecosystems, with thousands of species of flora and fauna, but this deforestation, recent droughts and high poverty are among the reasons it is fast changing.
Niue
This tiny volcanic island in the Pacific Ocean, which has a population of about 2,000, sits between the Cook Islands, Tonga and Samoa.
The government has reported its emissions are negligible, at less than 0.0001 per cent, and that the country is a “net sink given the growth of our forest”.
Some of its plans include to produce 80 per cent of its electricity from renewable energy by 2025 and increase marine protection.
Despite its contribution, however, it’s highly vulnerable to the effects of climate change, and in 2004 the capital of Alofi was decimated by a category 5 cyclone.
Panama
Panama was one of the first three countries to achieve net-zero emissions and joined an alliance of carbon-negative nations with Bhutan and Suriname at Cop26 that called for trade and carbon-pricing support.
About 65 per cent of the Central American country’s land, 33 per cent of which is protected, is covered in rainforests and it’s home to 4.5 million, as well as more than 10,000 species of plants.
The government has promised to reforest 50,000 hectares of land and reduce emissions by 24 per cent from the energy sector, both by 2050.
They also aim to focus on the marine-coastal system, biodiversity, sustainable agriculture, livestock, aquaculture and the circular economy.
Suriname
A total 93 per cent of Suriname’s land mass is covered in forest canopy, which absorbs billions of tonnes of CO2.
The Amazon nation has a population of 600,000, with 2.9 citizens per square kilometre, and describes itself as a “carbon sink of global significance”.
The government aims to protect at least 17 per cent of its terrestrial area by 2030, as well as integrate more renewable energy, with a strategy for reducing emissions from deforestation and degradation.
Going grey? A stylist's advice
If you’re going to go grey, a great style, well-cared for hair (in a sleek, classy style, like a bob), and a young spirit and attitude go a long way, says Maria Dowling, founder of the Maria Dowling Salon in Dubai.
It’s easier to go grey from a lighter colour, so you may want to do that first. And this is the time to try a shorter style, she advises. Then a stylist can introduce highlights, start lightening up the roots, and let it fade out. Once it’s entirely grey, a purple shampoo will prevent yellowing.
“Get professional help – there’s no other way to go around it,” she says. “And don’t just let it grow out because that looks really bad. Put effort into it: properly condition, straighten, get regular trims, make sure it’s glossy.”
Squid Game season two
Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
Killing of Qassem Suleimani
GIANT REVIEW
Starring: Amir El-Masry, Pierce Brosnan
Director: Athale
Rating: 4/5
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Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
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Bert van Marwijk factfile
Born: May 19 1952
Place of birth: Deventer, Netherlands
Playing position: Midfielder
Teams managed:
1998-2000 Fortuna Sittard
2000-2004 Feyenoord
2004-2006 Borussia Dortmund
2007-2008 Feyenoord
2008-2012 Netherlands
2013-2014 Hamburg
2015-2017 Saudi Arabia
2018 Australia
Major honours (manager):
2001/02 Uefa Cup, Feyenoord
2007/08 KNVB Cup, Feyenoord
World Cup runner-up, Netherlands
Results
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'The Last Days of Ptolemy Grey'
Rating: 3/5
Directors: Ramin Bahrani, Debbie Allen, Hanelle Culpepper, Guillermo Navarro
Writers: Walter Mosley
Stars: Samuel L Jackson, Dominique Fishback, Walton Goggins
Need to know
Unlike other mobile wallets and payment apps, a unique feature of eWallet is that there is no need to have a bank account, credit or debit card to do digital payments.
Customers only need a valid Emirates ID and a working UAE mobile number to register for eWallet account.
The biog
Age: 59
From: Giza Governorate, Egypt
Family: A daughter, two sons and wife
Favourite tree: Ghaf
Runner up favourite tree: Frankincense
Favourite place on Sir Bani Yas Island: “I love all of Sir Bani Yas. Every spot of Sir Bani Yas, I love it.”
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MOST%20POLLUTED%20COUNTRIES%20IN%20THE%20WORLD
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UAE currency: the story behind the money in your pockets
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A%20QUIET%20PLACE
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New UK refugee system
- A new “core protection” for refugees moving from permanent to a more basic, temporary protection
- Shortened leave to remain - refugees will receive 30 months instead of five years
- A longer path to settlement with no indefinite settled status until a refugee has spent 20 years in Britain
- To encourage refugees to integrate the government will encourage them to out of the core protection route wherever possible.
- Under core protection there will be no automatic right to family reunion
- Refugees will have a reduced right to public funds
11 cabbie-recommended restaurants and dishes to try in Abu Dhabi
Iqbal Restaurant behind Wendy’s on Hamdan Street for the chicken karahi (Dh14)
Pathemari in Navy Gate for prawn biryani (from Dh12 to Dh35)
Abu Al Nasar near Abu Dhabi Mall, for biryani (from Dh12 to Dh20)
Bonna Annee at Navy Gate for Ethiopian food (the Bonna Annee special costs Dh42 and comes with a mix of six house stews – key wet, minchet abesh, kekel, meser be sega, tibs fir fir and shiro).
Al Habasha in Tanker Mai for Ethiopian food (tibs, a hearty stew with meat, is a popular dish; here it costs Dh36.75 for lamb and beef versions)
Himalayan Restaurant in Mussaffa for Nepalese (the momos and chowmein noodles are best-selling items, and go for between Dh14 and Dh20)
Makalu in Mussaffa for Nepalese (get the chicken curry or chicken fry for Dh11)
Al Shaheen Cafeteria near Guardian Towers for a quick morning bite, especially the egg sandwich in paratha (Dh3.50)
Pinky Food Restaurant in Tanker Mai for tilapia
Tasty Zone for Nepalese-style noodles (Dh15)
Ibrahimi for Pakistani food (a quarter chicken tikka with roti costs Dh16)
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.”
The past winners
2009 - Sebastian Vettel (Red Bull)
2010 - Sebastian Vettel (Red Bull)
2011 - Lewis Hamilton (McLaren)
2012 - Kimi Raikkonen (Lotus)
2013 - Sebastian Vettel (Red Bull)
2014 - Lewis Hamilton (Mercedes)
2015 - Nico Rosberg (Mercedes)
2016 - Lewis Hamilton (Mercedes)
2017 - Valtteri Bottas (Mercedes)
Top financial tips for graduates
Araminta Robertson, of the Financially Mint blog, shares her financial advice for university leavers:
1. Build digital or technical skills: After graduation, people can find it extremely hard to find jobs. From programming to digital marketing, your early twenties are for building skills. Future employers will want people with tech skills.
2. Side hustle: At 16, I lived in a village and started teaching online, as well as doing work as a virtual assistant and marketer. There are six skills you can use online: translation; teaching; programming; digital marketing; design and writing. If you master two, you’ll always be able to make money.
3. Networking: Knowing how to make connections is extremely useful. Use LinkedIn to find people who have the job you want, connect and ask to meet for coffee. Ask how they did it and if they know anyone who can help you. I secured quite a few clients this way.
4. Pay yourself first: The minute you receive any income, put about 15 per cent aside into a savings account you won’t touch, to go towards your emergency fund or to start investing. I do 20 per cent. It helped me start saving immediately.
Mobile phone packages comparison
As You Were
Liam Gallagher
(Warner Bros)