Successful conservation measures are highlighted in the latest environmental annual report on Abu Dhabi’s wildlife.
The emirate has achieved record populations of both Arabian Oryx and two threatened species of sea mammals, says the Environment Agency Abu Dhabi.
The agency marks these as key achievements in its 2019 annual report, which came 25 years after the agency was founded.
On land, Abu Dhabi now hosts 5,000 Arabian Oryx, the largest herd in the world of a species that was once wiped out in the wild by hunting.
Conservation measures began in the 1980s by Sheikh Zayed, with the founding of Al Ain Zoo.
The waters of Abu Dhabi also contain the world’s largest number of Indian Ocean humpback dolphins, with the agency also monitoring more than 3,000 dugong, again more than anywhere else on the planet.
Sheikh Hamdan bin Zayed, the Ruler’s Representative in Al Dhafra and chairman of the agency, paid tribute to Sheikh Zayed for leading by example on environmental protection.
“Our priority is to address the local and global challenges of providing real environmental security, as well as outlining our efforts to protect biological diversity and the environment. These priorities stem from the UAE's keenness to conserve nature,” Sheikh Hamdan said.
“We will strive to protect the progress and achievements of this country over the past few years in order to achieve truly sustainable development within economic, social and environmental dimensions.”
The report reveals the agency has collected samples of nearly 2,500 invertebrate species, that include insects, worms and spiders, resulting in their conservation. Of these 100 were not previously known in the UAE.
By the end of the year, the number of land and maritime reserves managed by the Sheikh Zayed Protected Areas Network had grown to 19, covering 31 per cent of Abu Dhabi.
Working with the Ministry of Climate Change and Environment, the agency also launched a national recovery plan for fish stocks last year, with the banning of two nets known locally as gargoor and ghazal.
The gargoor or basket net is responsible for killing or injuring large numbers of sea turtles, as is the ghazal drift net, which catches sea creatures indiscriminately.
As part of its work as a regulatory authority, the authority reviewed more than 2,000 impact assessment studies, 4,800 environmental compliance inspections and issued more than 2,500 environmental licenses for industrial, commercial and development projects and facilities.
It monitors air quality through 20 fixed and two mobile stations and has also maintained and expanded a large network of marine water monitoring sites.
During the year it assessed 18,000 groundwater wells, leading to the launch of the Abu Dhabi Ground Water Atlas, with the aim of making water use more efficient.
The agency estimates that its message of improving environmental awareness reached more than eight of ten pupils in government and private schools in 2019, or around 1.8 million pupils.
Beyond the emirate, the agency has worked in Chad to successfully reintroduce the Scimitar-horned Oryx and set up similar programmes for the Addax and Dama gazelle.
Dr Shaikha Al Dhaheri, secretary general of the agency, said: “As always, the agency will work towards ensuring the sustainability of our natural resources and the continuity of a better life for future generations.”
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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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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