The UAE has set a more ambitious target for curbing carbon emissions in response to calls at last year’s Cop26 conference for greater efforts to combat climate change.
A statement from the Ministry of Climate Change and Environment revealed the country aims to cut carbon emissions by 31 per cent by 2030, compared with a “business as usual” scenario without curbs on greenhouse gases.
This stricter commitment compares with the 23.5 per cent reduction pledge that the Emirates made in December 2020 as part of its commitment to the Paris Agreement on climate change.
Today, we mark a new milestone in our voluntary commitment to environmental protection and climate action as we respond to the call of the Glasgow Climate Pact in our enhanced greenhouse gas emission reduction target
Mariam Al Mheiri,
Minister of Climate Change and Environment
The new target means the UAE aims to have total annual carbon emissions of 207.8 million tonnes of carbon dioxide equivalent (CO2-eq) by 2030 - 93.2 million tonnes less than 301 million under a business as usual scenario.
It ties in with the UAE’s aim of becoming a net zero carbon emitter by the middle of this century, a target the country announced last October, ahead of the Cop26 UN Climate Change Conference summit in Glasgow in the UK, through the UAE Net Zero by 2050 Strategic Initiative.
Under the previous December 2020 commitment, the UAE set an annual emissions target of 240 million tonnes of CO2-eq by 2030.
With the updated target, almost two thirds of the emissions reductions – 66.4 per cent – will be accounted for by electricity generation.
Industry is expected to account for 16.6 per cent of the reductions, transport 9.7 per cent, carbon capture, utilisation and storage (CCUS) 5.3 per cent, and waste 2.1 per cent.
Mariam Al Mheiri, Minister of Climate Change and Environment, said in the statement that the UAE had “a remarkable track record” of local and global efforts to combat climate change.
The latest figures represent the UAE’s latest Nationally Determined Contribution (NDC), a figure each nation submits to the Secretariat of the UN Framework Convention on Climate Change as part of its Paris Agreement commitments. The UAE submitted its first NDC in 2015, when the Paris Agreement was signed.
Governments were asked to update NDCs by the end of 2022 as part of the Glasgow Climate Pact, a key outcome of Cop26.
The updated NDC comes ahead of the Cop27 UN Climate Change Conference in Sharm El Sheikh in Egypt in November, and Cop28, to be held a year later in the UAE.
“Today, we mark a new milestone in our voluntary commitment to environmental protection and climate action as we respond to the call of the Glasgow Climate Pact in our enhanced greenhouse gas emission reduction target,” said Ms Al Mheiri.
“As the host of Cop28, the UAE will continue building on its climate ambition towards 2023 and beyond. With the submission of the updated second NDC, we are demonstrating our commitment to progressively raising our ambition further each year as new solutions and initiatives become available.”
Significant strides have already been made in expanding clean energy in the UAE. In 2011 it was 13 megawatts (MW), in 2015 it had increased to just over 100MW, and by 2020 had reached 2,540MW.
A key role in the UAE’s efforts to transition to clean energy is played by the Barakah Nuclear Energy Plant, where pre-operational testing of the fourth reactor’s cooling and safety systems recently took place. Within around three years, the facility will produce 85 per cent of Abu Dhabi’s clean electricity.
The country’s investments of more than $40 billion in clean energy have also helped to heavily increase solar power capacity.
As well as making efforts to curb carbon emissions, the UAE has also committed to making itself more resilient to climate change.
This work includes the Abu Dhabi Blue Carbon Demonstration Project and tree-planting drives, with the country set to plant 100 million mangrove seedlings by 2030.
For the next NDC, officials are working on a long-term strategy to promote economy-wide emissions reduction targets, and to further strengthen climate change adaptation and resilience.
To promote reductions in greenhouse gas emissions by the private sector, the ministry launched the National Dialogue for Climate Action (NDCA).
Through a monthly stakeholder assembly, each focused on a particular industry, this aims to involve sectors such as waste, cement, energy, transport and manufacturing.
Another initiative involving the private sector is the UAE Climate-Responsible Companies Pledge, in which signatories measure and report their greenhouse gas emissions and share emission-reduction plans with the government.
In its statement, the ministry said that meeting new climate targets required involvement from the private sector, civil society and youth, and the updated second NDC emphasised the importance of engaging women, young people and “climate-vulnerable communities”.
Prince William and Kate Middleton at Cop26 in Glasgow, UK - in pictures
Test series fixtures
(All matches start at 2pm UAE)
1st Test Lord's, London from Thursday to Monday
2nd Test Nottingham from July 14-18
3rd Test The Oval, London from July 27-31
4th Test Manchester from August 4-8
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.”
What She Ate: Six Remarkable Women & the Food That Tells Their Stories
Laura Shapiro
Fourth Estate
Schedule:
Friday, January 12: Six fourball matches
Saturday, January 13: Six foursome (alternate shot) matches
Sunday, January 14: 12 singles
The specs: 2018 Honda City
Price, base: From Dh57,000
Engine: 1.5L, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 118hp @ 6,600rpm
Torque: 146Nm @ 4,600rpm
Fuel economy, combined: 5.8L / 100km
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
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Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
Torque: 320Nm
Price: From Dh147,000
Available: Now
Defence review at a glance
• Increase defence spending to 2.5% of GDP by 2027 but given “turbulent times it may be necessary to go faster”
• Prioritise a shift towards working with AI and autonomous systems
• Invest in the resilience of military space systems.
• Number of active reserves should be increased by 20%
• More F-35 fighter jets required in the next decade
• New “hybrid Navy” with AUKUS submarines and autonomous vessels
Lampedusa: Gateway to Europe
Pietro Bartolo and Lidia Tilotta
Quercus
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants
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more from Janine di Giovanni
The Vile
Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah
Director: Majid Al Ansari
Rating: 4/5
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
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.”
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If you go
The flights
Emirates and Etihad fly direct to Nairobi, with fares starting from Dh1,695. The resort can be reached from Nairobi via a 35-minute flight from Wilson Airport or Jomo Kenyatta International Airport, or by road, which takes at least three hours.
The rooms
Rooms at Fairmont Mount Kenya range from Dh1,870 per night for a deluxe room to Dh11,000 per night for the William Holden Cottage.
Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
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More on animal trafficking
Vidaamuyarchi
Director: Magizh Thirumeni
Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra
Rating: 4/5
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'O'
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Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
Cry Macho
Director: Clint Eastwood
Stars: Clint Eastwood, Dwight Yoakam
Rating:**
My Cat Yugoslavia by Pajtim Statovci
Pushkin Press
UAE currency: the story behind the money in your pockets
