Women should be at the centre of climate action as they remain the most vulnerable to it, an expert panel heard in Abu Dhabi on Thursday.
The Arab region faces the heightened impact of climate change, made worse by a gender parity gap, making it important for women to play a pivotal role in climate negotiations and decision making, the panel heard.
Dena Assaf, the UN's resident co-ordinator in the UAE, said the twin problem painted a bleak picture.
“When we talk about impact of climate change in the Arab region, it is much greater than we probably have realised. Now, on top of that, the Arab region is not doing so well on the whole gender equality index,” said Ms Assaf.
The average temperature rise in the Arab region has been forecast at 4ºC, against the global average of 2ºC, she said.
The risks are even higher considering that 73 per cent of arable land in the Arab region faces the threat of desertification, with an economic impact of Dh33 billion ($9 billion), she said.
Extreme conditions
According to studies, the Arab region is more susceptible to higher temperature increases due to its large expanses of desert and lower groundwater levels.
Dangerous weather such as the deadly flash floods in Fujairah and Oman, as well as flooding in Qatar are examples of how climate change is affecting the Gulf region, a study by The Cyprus Institute’s Climate and Atmosphere Research Centre said.
Ms Assaf said the economic viability of women was in danger, especially as the agriculture sector is the second-largest employer of women in the Arab region, where female-run households are increasing daily due to protracted conflicts.
Climate change can also have a devastating effect on the region’s water supplies and food production systems, which experts believe could have a direct link to terrorism and extremism.
Against this backdrop, Ms Assaf said the existing gap in gender parity exacerbated the problem.
Although the UAE ranks first in the Arab world and 68th globally among the 146 countries in the 2022 Gender Gap Report by the World Economic Forum, Ms Assaf said its neighbours were still struggling.
“Three Arab countries are at the bottom of the index. So, we're not doing that great, [the] UAE being the best of the countries in the region and leading the way. We have a lot to improve upon.”
However, she said there was hope that the region had the potential and opportunity to move forward.
“We have already shown progress in many areas,” Ms Assaf said.
Hafsa Halawa, an independent consultant and Middle East analyst, said the Mena region, as a whole, was responding “poorly” to gender considerations within climate policies.
“Part of the problem stems from the very genuine governance challenges and socioeconomic challenges that a number of middle-income countries in the region face.”
Cop28 'an opportunity'
The panel, consisting of diplomats, academics, analysts and private sector representatives, discussed how Cop28 was an opportunity to push for women’s full and meaningful participation and address the most pressing issue of climate change.
Titled “The role of women leadership in advancing the climate agenda”, the panel was held at the Anwar Gargash Diplomatic Academy.
It was organised by the EU Delegation to the UAE, the Swedish embassy in Abu Dhabi, the Swedish Dialogue Institute for the Middle East and North Africa, and the academy.
Women remain underrepresented in climate forums and even fewer participate in negotiations on key climate issues such as climate funding, carbon emissions and measures to limit the use of fossil fuels, said ambassador Andrea Fontana from the EU mission in the UAE.
However, Cop28 has shown a commitment to advance their leadership, with the EU impressed by the appointment of Shamma Al Mazrui, UAE Minister of Community Development, and Razan Al Mubarak, President of the International Union for Conservation of Nature, as Youth Climate Champion and UN Climate Change High-Level Champion, respectively, he said.
“It is our collective responsibility to ensure that this [commitment] is followed up after the Cop by concrete actions so that women voices are represented in decision-making at the Cop and also in the UAE, EU and globally,” Mr Fontana said.
Emphasising the importance of promoting female leadership in efforts to address the climate crisis, Malak Abdullah, a UAE Cop28 youth delegate, highlighted the results of a survey conducted by a youth programme on climate change.
The survey found that women tend to be more engaged in climate activism than men, with 58 per cent of climate activists being female and the statistics showing “the significant role women play in driving action”.
Laila Abdullatif from Emirates Nature-WWF, said since eight in 10 people who are either displaced or affected by climate change are women, they had a unique perspective to offer.
“And hence, they should be involved in the co-creation of solutions,” she said.
Road to Cop28 launch event at Dubai Expo City: In pictures
Killing of Qassem Suleimani
The%20specs
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The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
The five pillars of Islam
AIDA%20RETURNS
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VEZEETA PROFILE
Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC
Company%20profile
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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.”
Opening day UAE Premiership fixtures, Friday, September 22:
- Dubai Sports City Eagles v Dubai Exiles
- Dubai Hurricanes v Abu Dhabi Saracens
- Jebel Ali Dragons v Abu Dhabi Harlequins
AndhaDhun
Director: Sriram Raghavan
Producer: Matchbox Pictures, Viacom18
Cast: Ayushmann Khurrana, Tabu, Radhika Apte, Anil Dhawan
Rating: 3.5/5
The five pillars of Islam
SQUADS
Bangladesh (from): Shadman Islam, Mominul Haque, Soumya Sarkar, Shakib Al Hasan (capt), Mahmudullah Riyad, Mohammad Mithun, Mushfiqur Rahim, Liton Das, Taijul Islam, Mosaddek Hossain, Nayeem Hasan, Mehedi Hasan, Taskin Ahmed, Ebadat Hossain, Abu Jayed
Afghanistan (from): Rashid Khan (capt), Ihsanullah Janat, Javid Ahmadi, Ibrahim Zadran, Rahmat Shah, Hashmatullah Shahidi, Asghar Afghan, Ikram Alikhil, Mohammad Nabi, Qais Ahmad, Sayed Ahmad Shirzad, Yamin Ahmadzai, Zahir Khan Pakteen, Afsar Zazai, Shapoor Zadran
EA Sports FC 24
The alternatives
• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.
• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.
• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.
• 2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.
• PayPal is probably the best-known online goods payment method - usually used for eBay purchases - but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.
BUNDESLIGA FIXTURES
Friday (UAE kick-off times)
Borussia Dortmund v Paderborn (11.30pm)
Saturday
Bayer Leverkusen v SC Freiburg (6.30pm)
Werder Bremen v Schalke (6.30pm)
Union Berlin v Borussia Monchengladbach (6.30pm)
Eintracht Frankfurt v Wolfsburg (6.30pm)
Fortuna Dusseldof v Bayern Munich (6.30pm)
RB Leipzig v Cologne (9.30pm)
Sunday
Augsburg v Hertha Berlin (6.30pm)
Hoffenheim v Mainz (9pm)
UAE currency: the story behind the money in your pockets
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
More from Neighbourhood Watch
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
UAE Premiership
Results
Dubai Exiles 24-28 Jebel Ali Dragons
Abu Dhabi Harlequins 43-27 Dubai Hurricanes
Final
Abu Dhabi Harlequins v Jebel Ali Dragons, Friday, March 29, 5pm at The Sevens, Dubai
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
Dhadak
Director: Shashank Khaitan
Starring: Janhvi Kapoor, Ishaan Khattar, Ashutosh Rana
Stars: 3
COMPANY%20PROFILE
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The specs: 2018 Jeep Compass
Price, base: Dh100,000 (estimate)
Engine: 2.4L four-cylinder
Transmission: Nine-speed automatic
Power: 184bhp at 6,400rpm
Torque: 237Nm at 3,900rpm
Fuel economy, combined: 9.4L / 100km
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Kill%20Bill%20Volume%201
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What to watch out for:
Algae, waste coffee grounds and orange peels will be used in the pavilion's walls and gangways
The hulls of three ships will be used for the roof
The hulls will painted to make the largest Italian tricolour in the country’s history
Several pillars more than 20 metres high will support the structure
Roughly 15 tonnes of steel will be used