Abu Dhabi will install 70 reverse vending machines and 20 smart bins across the emirate. Photo: Environment Agency-Abu Dhabi
Abu Dhabi will install 70 reverse vending machines and 20 smart bins across the emirate. Photo: Environment Agency-Abu Dhabi
Abu Dhabi will install 70 reverse vending machines and 20 smart bins across the emirate. Photo: Environment Agency-Abu Dhabi
Abu Dhabi will install 70 reverse vending machines and 20 smart bins across the emirate. Photo: Environment Agency-Abu Dhabi

UAE

Abu Dhabi aims to recycle 20 million single-use plastic water bottles this year

New reverse vending machines and smart bins will incentivise residents to recycle plastic bottles and aluminium cans

Ferris Elaraby

July 13, 2023

  • English
  • Arabic

An ambitious plan to recycle 20 million single-use plastic bottles every year was launched in Abu Dhabi during an event on Wednesday.

The Environment Agency-Abu Dhabi announced it would be launching a bottle return scheme to incentivise residents to reduce waste.

As many as 70 reverse vending machines and 26 smart bins will be installed in popular areas of Abu Dhabi with the aim of recycling millions of plastic bottles and aluminium cans, with those who use them receiving rewards, the agency said.

“We have ensured that they [RVMs and smart bins] are well located so that they are accessible, minimising the efforts for consumers to find them," said Sheikha Salem Al Dhaheri, secretary general of EAD, in a press release.

“We know that incentives are vital in this day and age to encourage consumers to change their behaviour and that is why these RVMs and smart bins will be a great tool for us to nurture a love for recycling by Abu Dhabi residents as a key step to build a circular system and reduce material flow.”

The RVMs will be located in high footfall areas such as the Corniche, Abu Dhabi International Airport, sports venues, malls and schools.

Last month, the new recycling bins were introduced at Adnoc petrol stations across the emirate.

The new project is part of the agency's Mission to Zero campaign, through which Abu Dhabi took 172 million plastic bags out of circulations following a ban last year.

The event on Wednesday was attended by several of the agency's key stakeholders and partners taking part in the initiative, including Lulu, Aldar and Carrefour.

Bertrand Loumaye, the country manager of Majid Al Futtaim, said that the company is committed to installing vending machines and bins across Carrefour stores in Abu Dhabi and Al Ain.

“We look forward to this next phase, as we continue to work towards Majid Al Futtaim's ambition of eliminating the distribution of single-use plastic across all of its businesses by 2025,” Mr Loumaye said.

While you're here
Who has lived at The Bishops Avenue?
  • George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
  • Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
  • Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
  • Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills. 
Hunting park to luxury living
  • Land was originally the Bishop of London's hunting park, hence the name
  • The road was laid out in the mid 19th Century, meandering through woodland and farmland
  • Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds

 

Tomorrow 2021

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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Your Guide to the Home
  • Level 1 has a valet service if you choose not to park in the basement level. This level houses all the kitchenware, including covetable brand French Bull, along with a wide array of outdoor furnishings, lamps and lighting solutions, textiles like curtains, towels, cushions and bedding, and plenty of other home accessories.
  • Level 2 features curated inspiration zones and solutions for bedrooms, living rooms and dining spaces. This is also where you’d go to customise your sofas and beds, and pick and choose from more than a dozen mattress options.
  • Level 3 features The Home’s “man cave” set-up and a display of industrial and rustic furnishings. This level also has a mother’s room, a play area for children with staff to watch over the kids, furniture for nurseries and children’s rooms, and the store’s design studio.
     
Quick pearls of wisdom

Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”

Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.” 

Updated: July 13, 2023, 3:30 AM
Abu DhabiRecyclingUAEEnvironment

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