UAE’s research into rain enhancement solutions highlighted at Cop26

The UAE’s efforts to improve global water security through cloud-seeding technology have been highlighted at the Cop26 climate talks in Glasgow.

Experts from the National Centre of Meteorology took part in a discussion session titled, Rain Enhancement: Innovative Solutions to Attain Water Security.

There is an urgent need for action to reduce the adverse effects of climate change on countries and governments

Dr Abdulla Al Mandous,
NCM

NCM director Dr Abdulla Al Mandous and Alya Al Mazroui, director of the UAE Research Programme for Rain Enhancement Science outlined the country’s rain enhancement technology and research programme.

They said the UAE’s cloud-seeding operations have increased understanding of this growing scientific field.

The country has developed more than 100 meteorological stations, a network of countrywide radars, custom-designed aircraft and a factory to produce high-quality hygroscopic salt flares for seeding.

Furthermore, the UAE Research Programme for Rain Enhancement Science has awarded around $10 million in grants to scientists.

Dr Al Mandous said the UAE is committed to finding innovative and viable solutions to address global water shortages.

“There is an urgent need for action to reduce the adverse effects of climate change on countries and governments,” he said.

Ms Al Mazroui called for further research into cloud seeding.

“We aim to deepen our collective resolve to find reliable, feasible and cost-effective solutions such as cloud seeding to address water scarcity and achieve water security,” said Ms Al Mazroui.

She said the results of the programme’s fourth research cycle will be announced in January.

The UAE delegation has had a busy week at the Cop26 climate talks, meeting with government officials, campaigners and business people.

The country hopes to host Cop28 in Abu Dhabi in 2023, and has received wide endorsement from the GCC, Asean and this week, the UN's Asia-Pacific Group.

How cloud seeding works

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The Pope's itinerary

Sunday, February 3, 2019 - Rome to Abu Dhabi
1pm: departure by plane from Rome / Fiumicino to Abu Dhabi
10pm: arrival at Abu Dhabi Presidential Airport

Monday, February 4
12pm: welcome ceremony at the main entrance of the Presidential Palace
12.20pm: visit Abu Dhabi Crown Prince at Presidential Palace
5pm: private meeting with Muslim Council of Elders at Sheikh Zayed Grand Mosque
6.10pm: Inter-religious in the Founder's Memorial

Tuesday, February 5 - Abu Dhabi to Rome
9.15am: private visit to undisclosed cathedral
10.30am: public mass at Zayed Sports City – with a homily by Pope Francis
12.40pm: farewell at Abu Dhabi Presidential Airport
1pm: departure by plane to Rome
5pm: arrival at the Rome / Ciampino International Airport

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.”