Energy poverty 'has millions in darkness'


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ABU DHABI // Masdar, the capital's clean energy company, yesterday announced plans for three solar energy projects in Afghanistan and the Kingdom of Tonga.

Dr Sultan Al Jaber, Masdar's chief executive and the UAE special envoy for Energy and Climate Change, was responding to a challenge from the United Nations' secretary general, Ban Ki-moon.

Mr Ban was in the capital to announce a new global programme that seeks to reduce energy poverty and support innovation, thereby making energy production more sustainable.

Mr Ban officially launched 2012 as the International Year of Sustainable Energy For All during the opening of the World Future Energy Summit at the Abu Dhabi National Exhibition Centre.

"Widespread energy poverty still condemns millions to darkness, to ill health, to missed opportunities for education," said Mr Ban, explaining that one in five people in the world still lack access to modern electricity.

"It is not acceptable that three billion people have to rely on wood, waste and charcoal for their energy needs," he added.

On behalf of the Government, Masdar will support the initiative with three projects, Dr Al Jaber said.

These include building a photovoltaic plant, which can transfer the sun's energy into electricity, in Tonga, an island state in the South Pacific Ocean.

The plant will have a capacity of 500 kilowatts, which is about 13 per cent of the total power capacity of the island. It will help save emissions of 4,000 tonnes of carbon dioxide from being emitted into the air every year.

Masdar will also bring solar home systems to eight remote villages in Afghanistan, Dr Al Jaber said. The project would give about 600 households access to clean power and modern home appliances.

Masdar will also work with the Development Bank of Japan to fund renewable energy projects in other developing nations.

Dr Al Jaber was not yet able to confirm the budget for the projects or their completion dates.

Mr Ban said that ending energy poverty was "only half of the energy solution".

The other half, he explained, involves reducing greenhouse emissions, produced as humanity burns coal, oil and natural gas to satisfy its energy needs.

"Our planet is heating. We need to turn down this global thermostat," said the UN's top diplomat, reminding the audience of the need to cut greenhouse emissions in half by 2050 if the world is to avoid dangerous changes to the climate.

"According to the International Energy Agency, we are nearing the point of no return," he said.

Mr Ban said his Sustainable Energy For All initiative has three main strategic objectives - to ensure that all people have access to energy, to double the rate of energy efficiency, and to double the share of renewable energy in the global energy mix. The three goals are to be achieved by 2030.

"This is good for the economy, good for the environment and good for global equity," Mr Ban said.

Dr Al Jaber, who is a member of a special group created by the secretary general to focus on the issue of sustainable energy, welcomed the initiative.

"Allow me to thank the secretary general for choosing Abu Dhabi and the World Future Energy Summit as a platform to launch this initiative," said Dr Al Jaber. "Access to viable clean technology and renewable energy is critical to diversifying the energy mix and crucial to all of us."

Other prominent figures also welcomed the UN initiative.

"My hope is that concrete action will be motivated by this initiative," said Julia Marton-Lefevre, the director general of the International Union for Conservation of Nature. "Sustainable energy is also a profound challenge for the developed world.

"If the goals of the initiative are met, not only will it change life for all of us, but the sustainable energy for all will transform the future of this planet."

Dr Kandeh Yumkella, the secretary general of the UN's Industrial Development Organisation and co-chair of the high-level group on sustainable energy for all, said officials would use the Abu Dhabi summit and the first half of the year to promote political acceptance of the three goals announced by Mr Ban.

The goals would be taken to a global UN conference on sustainable development in Rio de Janeiro, Brazil, this June.

"We are hoping these three targets and objectives can become universally accepted," Dr Yumkella said. "We need to get these as universal, aspirational goals for everybody.

"This summit shows clearly ... that the technologies needed to meet these objectives are possible, the technologies exist," he added.

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Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

UAE currency: the story behind the money in your pockets
Marathon results

Men:

 1. Titus Ekiru(KEN) 2:06:13 

2. Alphonce Simbu(TAN) 2:07:50 

3. Reuben Kipyego(KEN) 2:08:25 

4. Abel Kirui(KEN) 2:08:46 

5. Felix Kemutai(KEN) 2:10:48  

Women:

1. Judith Korir(KEN) 2:22:30 

2. Eunice Chumba(BHR) 2:26:01 

3. Immaculate Chemutai(UGA) 2:28:30 

4. Abebech Bekele(ETH) 2:29:43 

5. Aleksandra Morozova(RUS) 2:33:01  

Fixtures

Tuesday - 5.15pm: Team Lebanon v Alger Corsaires; 8.30pm: Abu Dhabi Storms v Pharaohs

Wednesday - 5.15pm: Pharaohs v Carthage Eagles; 8.30pm: Alger Corsaires v Abu Dhabi Storms

Thursday - 4.30pm: Team Lebanon v Pharaohs; 7.30pm: Abu Dhabi Storms v Carthage Eagles

Friday - 4.30pm: Pharaohs v Alger Corsaires; 7.30pm: Carthage Eagles v Team Lebanon

Saturday - 4.30pm: Carthage Eagles v Alger Corsaires; 7.30pm: Abu Dhabi Storms v Team Lebanon

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

PROFILE OF CURE.FIT

Started: July 2016

Founders: Mukesh Bansal and Ankit Nagori

Based: Bangalore, India

Sector: Health & wellness

Size: 500 employees

Investment: $250 million

Investors: Accel, Oaktree Capital (US); Chiratae Ventures, Epiq Capital, Innoven Capital, Kalaari Capital, Kotak Mahindra Bank, Piramal Group’s Anand Piramal, Pratithi Investment Trust, Ratan Tata (India); and Unilever Ventures (Unilever’s global venture capital arm)

Abramovich London

A Kensington Palace Gardens house with 15 bedrooms is valued at more than £150 million.

A three-storey penthouse at Chelsea Waterfront bought for £22 million.

Steel company Evraz drops more than 10 per cent in trading after UK officials said it was potentially supplying the Russian military.

Sale of Chelsea Football Club is now impossible.

MATCH INFO

Uefa Champions League final:

Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

The five stages of early child’s play

From Dubai-based clinical psychologist Daniella Salazar:

1. Solitary Play: This is where Infants and toddlers start to play on their own without seeming to notice the people around them. This is the beginning of play.

2. Onlooker play: This occurs where the toddler enjoys watching other people play. There doesn’t necessarily need to be any effort to begin play. They are learning how to imitate behaviours from others. This type of play may also appear in children who are more shy and introverted.

3. Parallel Play: This generally starts when children begin playing side-by-side without any interaction. Even though they aren’t physically interacting they are paying attention to each other. This is the beginning of the desire to be with other children.

4. Associative Play: At around age four or five, children become more interested in each other than in toys and begin to interact more. In this stage children start asking questions and talking about the different activities they are engaging in. They realise they have similar goals in play such as building a tower or playing with cars.

5. Social Play: In this stage children are starting to socialise more. They begin to share ideas and follow certain rules in a game. They slowly learn the definition of teamwork. They get to engage in basic social skills and interests begin to lead social interactions.

COMPANY PROFILE
Company name: BorrowMe (BorrowMe.com)

Date started: August 2021

Founder: Nour Sabri

Based: Dubai, UAE

Sector: E-commerce / Marketplace

Size: Two employees

Funding stage: Seed investment

Initial investment: $200,000

Investors: Amr Manaa (director, PwC Middle East) 

Results:

First Test: New Zealand 30 British & Irish Lions 15

Second Test: New Zealand 21 British & Irish Lions 24

Third Test: New Zealand 15 British & Irish Lions 15

The BIO:

He became the first Emirati to climb Mount Everest in 2011, from the south section in Nepal

He ascended Mount Everest the next year from the more treacherous north Tibetan side

By 2015, he had completed the Explorers Grand Slam

Last year, he conquered K2, the world’s second-highest mountain located on the Pakistan-Chinese border

He carries dried camel meat, dried dates and a wheat mixture for the final summit push

His new goal is to climb 14 peaks that are more than 8,000 metres above sea level

Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000