Colour them green: universities embrace sustainability initiatives



ABU DHABI // Universities are embracing environmentalism and taking steps to turn both curricula and campuses "green".

From green building to recycling initiatives, the instruction has come from the top. Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Higher Education and Scientific Research, told the Higher Colleges of Technology (HCT) annual conference this month: "We must become leaders in sustainability practices where we continuously look for ways to preserve the environment and to conserve energy on our campuses. We must encourage education and innovation in this area."

Speaking of the new Ras Al Khaimah Women's College campus as well as expansions of the Fujairah women's college and the colleges in Al Ain, he said: "All these projects will incorporate sound sustainable development principles. In fact, our commitment to sustainable development will be further strengthened by the new academic programme in sustainable built environment." HCT, the largest federal institution with 16 colleges around the country, are going one step further, to make the curriculum and not just the buildings green.

"You can 'green' almost any curriculum," said James Pounder, the associate provost. "Even in nursing or aircraft maintenance, it's about how to dispose of materials. It's high on our agenda." A solar farm planned for Al Ain is their biggest project, which will involve UAE University. "It will be like a living, learning laboratory for the engineers there," said Dr Mark Drummond, the HCT provost. "Al Ain is the perfect place to do this and the benefit for me is that it engages the students from both universities. It gives them hands-on experience."

It is a challenging step in a country where energy is relatively low cost, he said, making it difficult to invest in solar panels, which are expensive to both buy and maintain. "It can take up to 10 years to reach the point where you're getting free energy," Dr Drummond said. "The trick is getting it funded." The green push is extending into other schools in Abu Dhabi. A five-year agreement between Abu Dhabi's education and environmental authorities is aimed at integrating lessons on sustainability into the curriculum. The Abu Dhabi Education Council and the Environment Agency-Abu Dhabi agreed last week to encourage learning about environmental conservation through special projects and activities, which the agencies will develop jointly.

The newly opened women's campus at the UAE University in Al Ain was designed to a green building policy. Among its initiatives, it has a cloud network, allowing one computer server to replace 10 to 12. "We hope in the next year this will have reduced our energy consumption in this area between 40 and 60 per cent," said Nick Choban, the assistant provost for IT. The system will be rolled out across the remaining campuses over the coming months.

Zayed University in Dubai have established the Zayed Environmental Impact Network. Glass has replaced plastic in areas such as the canteen. In the first year, they have collected 26,500kg of paper and cardboard, 1,000kg of plastic and 400kg of tin. Water consumption has been a major focus of the initiative. "We have reduced our water consumption by using 'grey water' to water the plants now," said Usama Alalami, the head of the programme. Grey water is reclaimed from sinks and showers.

Green policy also is coming into play outside the federal universities. Sharjah University have just launched a bachelor of science programme in renewable and sustainable energy, registering 25 students this year. Prof Hamid al Naimiy, who headed research into the feasibility of the new degree, praised the addition of such programmes. "The market needed this, we need these experts in the UAE to find alternative energies and reduce the country's carbon footprint, in agriculture, industry, the ministries."

The programme is a collaboration between the colleges of science and engineering, allowing greater depth of subject. "The main issue is to give the students skills for the workplace when they graduate," said Prof al Naimiy.

TWISTERS

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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.”

Libya's Gold

UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.

The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.

Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.

A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.

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Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
Investors: Flat6Labs, Resonance and various others

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Director: Hayao Miyazaki

Starring: Soma Santoki, Masaki Suda, Ko Shibasaki

Rating: 5/5

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(Sohail 100,Phil Salt 37 not out, Bilal Irshad 30, Josh Poysden 2-26)
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Sustainable Development Goals

1. End poverty in all its forms everywhere

2. End hunger, achieve food security and improved nutrition and promote sustainable agriculture

3. Ensure healthy lives and promote well-being for all at all ages

4. Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all

5. Achieve gender equality and empower all women and girls

6. Ensure availability and sustainable management of water and sanitation for all

7. Ensure access to affordable, reliable, sustainable and modern energy for all

8. Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

9. Build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation

10. Reduce inequality within and among countries

11. Make cities and human settlements inclusive, safe, resilient and sustainable

12. Ensure sustainable consumption and production patterns

13. Take urgent action to combat climate change and its effects

14. Conserve and sustainably use the oceans, seas and marine resources for sustainable development

15. Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss

16. Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels

17. Strengthen the means of implementation and revitalise the global partnership for sustainable development

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UAE v Gibraltar

What: International friendly

When: 7pm kick off

Where: Rugby Park, Dubai Sports City

Admission: Free

Online: The match will be broadcast live on Dubai Exiles’ Facebook page

UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)