A failure to deal with water scarcity could have severe consequences for the entire world, said a senior Finnish politician.
Jaana Husu-Kallio, Permanent Secretary of Finland's Ministry and Agriculture and Forestry, made her comments during the second day of Water Week at Expo 2020 Dubai.
If water supply issues continued to go unchecked, countries would inevitably be faced with a food shortage crisis as well, she said.
It [the pandemic] made us wake up and get back to basics and think about how we are using the resources we have
Jaana Husu-Kallio,
Ministry and Agriculture and Forestry of Finland
“It could be a disaster for the whole of mankind if we don’t manage our water properly,” Ms Husu-Kallio told The National from the Finnish pavilion at the world’s fair.
“If we lack water then we are going to lack food, as it’s an essential part of its creation and that obviously would be a huge issue.
“Water is also the source of sanitation so it’s clearly a huge deal for the entire world.”
When you think of countries facing water shortages, Finland, with just under 190,000 lakes, is not the first that springs to mind.
In fact, almost a tenth of the country’s land area is covered in water.
However, it too has faced many issues with its supply, according to the UN’s Water Action Hub, which monitors nations' water sustainability and climate resilience.
The country continues to face challenges, with a significant number of pollutants getting into the water supply.
The key to tackling those issues has been digitalisation and the use of technology to analyse the content of water, according to Ms Husu-Kallio.
“What is extremely important is that we have now have the tools to accurately measure the cleanliness of the water,” she said.
“This wasn’t always the case. When I was a kid we had no way of knowing the dangers of what you could throw in a lake.
“Nowadays it is completely understood what you can and can’t do with water.
“In Lapland, you can still drink water straight from the lakes because they are so clean. That’s not very common anywhere else in the world.”
Proper infrastructure
As a nation that is rich in water supply, Finland has been able to develop technology to help reduce the level of water pollution, said Ms Husu-Kallio.
However, the challenge is different elsewhere.
A recent UN report said the issue for many nations was not a lack of physical water but the failure to ensure a regular supply due to the absence of proper infrastructures.
The UN estimated there were 2.3 billion people living in water-stressed countries in 2021.
Of those, 733 million were living in countries facing “high to critical” levels of water stress.
“Water drought is getting worse and worse by the day in other parts of the world,” she said.
“I was in Cape Town, South Africa, recently and it was close to having no water available at all.
“The technology is needed there to ensure there is no leaking of water and there is not a single drop wasted.”
While the Covid-19 pandemic had many negative results, one area in which it had a positive outcome was sharpening minds on the need to improve the world we live in, said Ms Husu-Kallio.
"It made us wake up and get back to basics and think about how we are using the resources we have,” she said.
“It showed us solutions must be sustainable in the future.”
Another expert speaking at Expo 2020 Dubai said the global issues around having access to clean water were mounting.
“It has been projected by 2025 that two thirds of all people on the planet will experience severe water shortages at least one month a year,” said Martin Renck, founder of Wayout International, which produces hardware and software systems for local coverage of safe drinking water.
“It’s even a problem in the developed world where cities are using piping systems that were installed when the cities were first built and based on old requirements.
“Cities have grown so fast and the issue isn’t just about having access to drinking water, now the very source is being polluted by the likes of chemicals and plastics.”
Mr Renck was speaking from the Swedish pavilion where he was demonstrating his company's smart tap system, which provides safe drinking water from treated sources, including sea water.
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Results
Stage 5:
1. Jonas Vingegaard (DEN) Team Jumbo-Visma 04:19:08
2. Tadej Pogacar (SLO) UAE Team Emirates 00:00:03
3. Adam Yates (GBR) Ineos Grenadiers
4. Sergio Higuita (COL) EF Education-Nippo 00:00:05
5. Joao Almeida (POR) Deceuninck-QuickStep 00:00:06
General Classification:
1. Tadej Pogacar (SLO) UAE Team Emirates 17:09:26
2. Adam Yates (GBR) Ineos Grenadiers 00:00:45
3. Joao Almeida (POR) Deceuninck-QuickStep 00:01:12
4. Chris Harper (AUS) Team Jumbo-Visma 00:01:54
5. Neilson Powless (USA) EF Education-Nippo 00:01:56
UAE currency: the story behind the money in your pockets
Who has been sanctioned?
Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.
Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.
Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.
Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.
MATCH INFO
Austria 2
Hinteregger (53'), Schopf (69')
Germany 1
Ozil (11')
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.”
COMPANY%20PROFILE
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UAE currency: the story behind the money in your pockets
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
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The biog
Born: Kuwait in 1986
Family: She is the youngest of seven siblings
Time in the UAE: 10 years
Hobbies: audiobooks and fitness: she works out every day, enjoying kickboxing and basketball
Company%20Profile
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Rashid & Rajab
Director: Mohammed Saeed Harib
Stars: Shadi Alfons, Marwan Abdullah, Doaa Mostafa Ragab
Two stars out of five
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Ireland (15-1):
Ireland (15-1): Rob Kearney; Keith Earls, Chris Farrell, Bundee Aki, Jacob Stockdale; Jonathan Sexton, Conor Murray; Jack Conan, Sean O'Brien, Peter O'Mahony; James Ryan, Quinn Roux; Tadhg Furlong, Rory Best (capt), Cian Healy
Replacements: Sean Cronin, Dave Kilcoyne, Andrew Porter, Ultan Dillane, Josh van der Flier, John Cooney, Joey Carbery, Jordan Larmour
Coach: Joe Schmidt (NZL)
Match info
Who: India v Afghanistan
What: One-off Test match, Bengaluru
When: June 14 to 18
TV: OSN Sports Cricket HD, 8am starts
Online: OSN Play (subscribers only)
Squads
Australia: Finch (c), Agar, Behrendorff, Carey, Coulter-Nile, Lynn, McDermott, Maxwell, Short, Stanlake, Stoinis, Tye, Zampa
India: Kohli (c), Khaleel, Bumrah, Chahal, Dhawan, Shreyas, Karthik, Kuldeep, Bhuvneshwar, Pandey, Krunal, Pant, Rahul, Sundar, Umesh