It took 16 days for Reem Bani Hashem to reach Antarctica from the UAE, but only moments for her to realise the importance of the trip.
The International Antarctic Expedition (IEA) was led by the environmentalist Robert Swan, the first person to reach both the South and North Pole on foot.
IEA is an initiative of Mr Swan's company 2041, named in hope of achievements in educating people by the 50th anniversary of the 1991 Environmental Protocol, which banned drilling and mining in the Antarctic peninsula but is due for review in 2041.
Reem, 23, a graduate of the American University in Dubai, had applied online to take part with her older sister Aldana.
The two flew from Dubai to Ushuaia, Argentina, the most southern city in the world, for two days of workshops before setting sail.
"Before going, I can say that I was interested in environmental issues but it's not like I ever took the time to read about them or involve myself more," said Reem.
"I thought experts would take care of everything. I thought, 'Who am I? What can I do? I'll recycle a few bottles but who cares?'"
The feeling was shared by Aldana, 24, who boarded the Sea Spirit for the trip to Antarctica.
"I had no idea about sustainability, being green or what I could do to help, so it was a step I took to educate myself," she said.
Houda Dafir, a 33-year-old Frenchwoman who resides in Dubai, joined the team after she was selected by Mr Swan on a visit to her office, where she works as an environmental compliance manager.
"He said I had to be on the boat and I made it," Houda said. "We have to lead by example. This is not something that comes overnight but if people see your actions, they will follow."
For Reem, learning the effects people's lifestyles have on the planet was an eye-opener.
"We were taught about consumption," she said. "The first thing you realise is that we are constantly buying things we don't need.
"Another thing is taking longer showers than necessary."
Alia Al Khafajy, 25, from Dubai, said the weather in Antarctica provided a sobering lesson.
"The eye-opener for me was actually seeing the effects right in front of our eyes," said Alia, an associate banker with Global Private Banking. "It rained twice while we were there, and it's not meant to rain."
Several times on the trip, the women saw ice shelves shatter into the ocean. Their route was altered after an area of ice at which the ship was due to stop fell into the sea.
"We're in a bubble thinking each country does its own thing and that it can't be that bad, but it is," Alia said.
Having returned to the UAE last week, the women are planning to spread Mr Swan's message.
"We live such a fast life that often we don't take time to live or breathe … we just need to consume, consume, consume," Houda said. "We should appreciate things are happening around us and we need to act."
zalhassani@thenational.ae
This article has been amended since it was first published. Mr Robert Swan's company is called 2041, not 2014.
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Mohammed bin Zayed Majlis
One in nine do not have enough to eat
Created in 1961, the World Food Programme is pledged to fight hunger worldwide as well as providing emergency food assistance in a crisis.
One of the organisation’s goals is the Zero Hunger Pledge, adopted by the international community in 2015 as one of the 17 Sustainable Goals for Sustainable Development, to end world hunger by 2030.
The WFP, a branch of the United Nations, is funded by voluntary donations from governments, businesses and private donations.
Almost two thirds of its operations currently take place in conflict zones, where it is calculated that people are more than three times likely to suffer from malnutrition than in peaceful countries.
It is currently estimated that one in nine people globally do not have enough to eat.
On any one day, the WFP estimates that it has 5,000 lorries, 20 ships and 70 aircraft on the move.
Outside emergencies, the WFP provides school meals to up to 25 million children in 63 countries, while working with communities to improve nutrition. Where possible, it buys supplies from developing countries to cut down transport cost and boost local economies.
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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