Hopes grow for climate deal


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Today sees the opening of what is being viewed as the most important international climate change meeting since the Kyoto Protocol was initially adopted in 1997. The Copenhagen Climate Conference, in Denmark, is meant to address the ever increasing levels of carbon dioxide (CO2) pollution believed to be the main cause of climate change.

In a show of support, 105 world leaders have said they will attend the talks' closing stages to try to seal a deal after years of bitter debates over how to divide up the burden of emissions curbs and who should pay. On Sunday, the UN climate chief said time was up to agree on the outlines of a tougher climate deal after troubled negotiations have deepened splits between rich and poor nations. "I believe that negotiators now have the clearest signal ever from world leaders to draft a solid set of proposals to implement rapid action," Yvo de Boer told reporters.

A decision by the US president, Barack Obama, to attend the late stages of the summit, on Friday has raised expectations that an accord may be struck. A delegation of senior UAE officials flies to Copenhagen today for the start of the summit. In a related development, the federal Government yesterday announced the creation of a new environmental department that would determine how the UAE deals with climate change.

One of the 22 UAE delegates to the conference, Dr Saad al Numeiri, an adviser to the Minister of Environment and Water, Dr Rashid bin Fahad, said the Emirates faced a quandary with regards to climate change. On the one hand, he said, should global warming continue unchecked, serious problems could arise, including water scarcity, loss of biodiversity and a detrioration of coastal environments. "We will be very impacted because we have low-lying coastline and islands."

On the other hand, he said, the very measures designed to wean the world off fossil fuels would be financially detrimental. "Economically we will be impacted because there is a reduction of income from fossil fuel revenues as there will be a reduction in the consumption of these fuels." Another oil producer, Saudi Arabia, wants compensation for any such loss of revenue. Dr al Numeiri said he could not comment on whether the UAE would make similar requests.

Dr al Numeiri said that the new federal department would help the country decide on the best course of action to take over the coming years and create "policy and strategy for the climate change issue". "We have been working on this issue for a long time but we assigned that department to take over two months ago." Habiba al Marashi, the founder and chairman of the Emirates Environment Group, a Dubai-based non-governmental organisation, said the Government's move to create a separate climate change department was a positive one.

She added that for the UAE's greenhouse emissions to be reduced, residents could help by making more pro-environment choices. "This is a consumer society and people's decisions have an impact," she said. "It is a complicated issue and the Government alone cannot solve it; all sectors of society need to participate." Also attending the Copenhagen summit, which ends on December 18, will be Leila al Ameri, who has been named to head up the new department.

The delegation also includes officials from the ministries of energy and foreign affairs and representatives from the Environment Agency-Abu Dhabi and Masdar, Abu Dhabi's sustainability initiative. The Kyoto Protocol, which obliges industrialised countries to reduce their greenhouse emissions, expires in 2012. The Copenhagen summit is expected to lead to a political agreement only, with binding targets to be discussed at talks next year. Although the UAE is not considering committing to mandatory cuts in emissions, officials here are insisting industrial countries bring them in. "There should be clear targets and time frames for Annex One [developed] countries," Dr al Numeiri said.

The UAE and other major fossil-fuel producers, including coal-rich Australia, also want funding from the Clean Development Mechanism, which was established under the Kyoto Protocol, for carbon capture and storage projects. It gives financial support to emission-reductions projects in the developing world. The scheme usually focuses on efforts to increase the efficiency of industrial operations and to curb emissions of methane, a powerful greenhouse gas.

However, this country and others want it to pay for new carbon capture and storage projects. The technique is used to collect carbon dioxide and secrete it deep underground. Critics question whether the international community should support an expensive technology to benefit oil and coal producers instead of funding solar projects or wind farms. The UAE has long been targeted by environmental campaigners because its rate of emissions per capita, or "carbon footprint", is among the largest in the world. But Dr al Numeiri insisted the country is playing its part in tackling climate change. "We have 'zero-flaring' policies in the oil sector. We are collecting methane, which is 23 times more potent that CO2, from waste water treatment," he said, adding that other green policies had also been implemented here.

However, a leak on the internet of prominent climate-change scientists' e-mail correspondence last month could jeopardise a positive outcome at Copenhagen, according to Mohammed Raouf, an environment expert at the Dubai-based Gulf Research Centre. About 1,000 e-mails between leading climate researchers working at the University of East Anglia in Britain were revealed after hackers had accessed their accounts. They showed scientists discussing the effective ways to present data and singled out individuals and publications they saw as hostile to the idea of man-made global warming.

"This will make the situation worse," Mr Raouf said. "You cannot judge the whole picture with this, there is an overwhelming consensus that human activities are responsible for climate change." Others said the leaks would have little long-term impact. "Climate change is real, it is related to human activities, and the need to counteract its impacts is now urgent," said Ginger Pinholster, a spokeswoman for the American Association for the Advancement of Science.

vtodorova@thenational.ae * With files from Chris Stanton and Reuters

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MATCH INFO

Chelsea 4 (Mount 18',Werner 44', Hudson-Odoi 49', Havertz 85')

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Our family matters legal consultant

Name: Hassan Mohsen Elhais

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

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.” 

The Details

Kabir Singh

Produced by: Cinestaan Studios, T-Series

Directed by: Sandeep Reddy Vanga

Starring: Shahid Kapoor, Kiara Advani, Suresh Oberoi, Soham Majumdar, Arjun Pahwa

Rating: 2.5/5 

The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

Zidane's managerial achievements

La Liga: 2016/17
Spanish Super Cup: 2017
Uefa Champions League: 2015/16, 2016/17, 2017/18
Uefa Super Cup: 2016, 2017
Fifa Club World Cup: 2016, 2017

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

The most expensive investment mistake you will ever make

When is the best time to start saving in a pension? The answer is simple – at the earliest possible moment. The first pound, euro, dollar or dirham you invest is the most valuable, as it has so much longer to grow in value. If you start in your twenties, it could be invested for 40 years or more, which means you have decades for compound interest to work its magic.

“You get growth upon growth upon growth, followed by more growth. The earlier you start the process, the more it will all roll up,” says Chris Davies, chartered financial planner at The Fry Group in Dubai.

This table shows how much you would have in your pension at age 65, depending on when you start and how much you pay in (it assumes your investments grow 7 per cent a year after charges and you have no other savings).

Age

$250 a month

$500 a month

$1,000 a month

25

$640,829

$1,281,657

$2,563,315

35

$303,219

$606,439

$1,212,877

45

$131,596

$263,191

$526,382

55

$44,351

$88,702

$177,403

 

Itcan profile

Founders: Mansour Althani and Abdullah Althani

Based: Business Bay, with offices in Saudi Arabia, Egypt and India

Sector: Technology, digital marketing and e-commerce

Size: 70 employees 

Revenue: On track to make Dh100 million in revenue this year since its 2015 launch

Funding: Self-funded to date

 

A little about CVRL

Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.

One of its main goals is to provide permanent treatment solutions for veterinary related diseases. 

The taxidermy centre was established 12 years ago and is headed by Dr Ulrich Wernery. 

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

Living in...

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UAE currency: the story behind the money in your pockets
F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

Australia tour of Pakistan

March 4-8: First Test, Rawalpindi

March 12-16: Second Test, Karachi

March 21-25: Third Test, Lahore

March 29: First ODI, Rawalpindi

March 31: Second ODI, Rawalpindi

April 2: Third ODI, Rawalpindi

April 5: T20I, Rawalpindi

UAE currency: the story behind the money in your pockets
German intelligence warnings
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  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

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The specs
Engine: 3.0-litre twin-turbo flat-six

Power: 480hp at 6,500rpm

Torque: 570Nm from 2,300-5,000rpm

Transmission: 8-speed dual-clutch auto

Fuel consumption: 10.4L/100km

Price: from Dh547,600

On sale: now 

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)

Biog

Mr Kandhari is legally authorised to conduct marriages in the gurdwara

He has officiated weddings of Sikhs and people of different faiths from Malaysia, Sri Lanka, Russia, the US and Canada

Father of two sons, grandfather of six

Plays golf once a week

Enjoys trying new holiday destinations with his wife and family

Walks for an hour every morning

Completed a Bachelor of Commerce degree in Loyola College, Chennai, India

2019 is a milestone because he completes 50 years in business

 

All about the Sevens

Cape Town Sevens on Saturday and Sunday: Pools A – South Africa, Kenya, France, Russia; B – New Zealand, Australia, Spain, United States; C – England, Scotland, Argentina, Uganda; D – Fiji, Samoa, Canada, Wales

HSBC World Sevens Series standing after first leg in Dubai 1 South Africa; 2 New Zealand; 3 England; 4 Fiji; 5 Australia; 6 Samoa; 7 Kenya; 8 Scotland; 9 France; 10 Spain; 11 Argentina; 12 Canada; 13 Wales; 14 Uganda; 15 United States; 16 Russia

Results

2pm: Handicap (PA) Dh80,000 1,600m; Winner: AF Al Baher, Bernardo Pinheiro (jockey), Ernst Oertel (trainer).

2.30pm: Handicap (TB) Dh100,000 1,600m; Winner: Talento Puma, Xavier Ziani, Salem bin Ghadayer.

3pm: Handicap (TB) Dh90,000 1,950m; Winner: Tailor’s Row, Royston Ffrench, Salem bin Ghadayer.

3.30pm: Jebel Ali Stakes Listed (TB) Dh500,000 1,950m; Winner: Mark Of Approval, Patrick Cosgrave, Mahmood Hussain.

4pm: Conditions (TB) Dh125,000 1,400m; Winner: Dead-heat Raakez, Jim Crowley, Nicholas Bachalard/Attribution, Xavier Ziani, Salem bin Ghadayer.

4.30pm: Jebel Ali Sprint (TB) Dh500,000 1,000m; Winner: AlKaraama, Antonio Fresu, Musabah Al Muhairi.

5pm: Handicap (TB) Dh100,000 1,200m; Winner: Wafy, Richard Mullen, Satish Seemar.

5.30pm: Handicap (TB) Dh90,000 1,400m; Winner: Cachao, Tadhg O’Shea, Satish Seemar.

How the UAE gratuity payment is calculated now

Employees leaving an organisation are entitled to an end-of-service gratuity after completing at least one year of service.

The tenure is calculated on the number of days worked and does not include lengthy leave periods, such as a sabbatical. If you have worked for a company between one and five years, you are paid 21 days of pay based on your final basic salary. After five years, however, you are entitled to 30 days of pay. The total lump sum you receive is based on the duration of your employment.

1. For those who have worked between one and five years, on a basic salary of Dh10,000 (calculation based on 30 days):

a. Dh10,000 ÷ 30 = Dh333.33. Your daily wage is Dh333.33

b. Dh333.33 x 21 = Dh7,000. So 21 days salary equates to Dh7,000 in gratuity entitlement for each year of service. Multiply this figure for every year of service up to five years.

2. For those who have worked more than five years

c. 333.33 x 30 = Dh10,000. So 30 days’ salary is Dh10,000 in gratuity entitlement for each year of service.

Note: The maximum figure cannot exceed two years total salary figure.