Mariam Al Mheiri, Minister of Climate Change and Environment and Minister of State for Food Security, has reiterated the UAE's stance on global food security. Pawan Singh / The National
Mariam Al Mheiri, Minister of Climate Change and Environment and Minister of State for Food Security, has reiterated the UAE's stance on global food security. Pawan Singh / The National
Mariam Al Mheiri, Minister of Climate Change and Environment and Minister of State for Food Security, has reiterated the UAE's stance on global food security. Pawan Singh / The National
Mariam Al Mheiri, Minister of Climate Change and Environment and Minister of State for Food Security, has reiterated the UAE's stance on global food security. Pawan Singh / The National

UAE vows to take action to tackle global food crisis, summit hears


Patrick Ryan
  • English
  • Arabic

The UAE is fully committed to tackling the global food crisis, according to Mariam Al Mheiri, Minister of Climate Change and Environment and Minister of State for Food Security.

Ms Al Mheiri reiterated the country’s stance when speaking on the issue at the Uniting for Global Food Security conference in Berlin.

“The UAE pays the utmost attention to enhancing food security and tackling relevant challenges worldwide,” Ms Al Mheiri said.

“As a donor, a UN Security Council member, and the 28th UN Climate Change Conference (Cop 28) president, the country is committed to collective action to address the global food crisis and prevent further hunger.”

Ministers from the G7 countries, key donor nations, vulnerable and countries most affected by the crisis took part in the event, along with UN representatives and philanthropists.

Ms Al Mheiri also outlined areas that could make an immediate long-term difference.

These included channelling investment into more resilient food and water systems to create drought resistant crops and to enhance irrigation systems.

The joint UAE-US Agriculture Innovation Mission for Climate (AIM for Climate) project was given as an example of how nations could help to address the crisis.

The scheme aims to drive investment into sustainable programmes to help food producers cope with climate change and reduce the almost 33 per cent of greenhouse gas emissions caused by food production.

“I am happy to note here that AIM for Climate is now supported by a coalition of over 200 government and non-government partners, and that it intends to increase collective investment in sustainable and innovative food systems to $8 billion by Cop 27,” said Ms Al Mheiri — who offered another example of how the UAE was playing its part in tackling the crisis.

“To facilitate and expedite the transport of aid to those who need it most, we have established the International Humanitarian City, the largest humanitarian logistics hub in the world that is home to 54 humanitarian organisations and nine UN agencies.”

AIM for Climate was unveiled by the UAE and the US at President Joe Biden’s climate summit in April 2021. It now has 40 member nations and seeks to double its investment pot to $8 billion before Cop 27 climate talks in Egypt in November.

The money will drive research into boosting output to feed the world’s 800 million hungry people while cutting the industry’s planet-heating emissions.

United Nation Relief and Works Agency (UNRWA) distribute food across the region: in pictures

  • A Palestinian worker from the United Nation Relief and Works Agency (UNRWA) handles food supplies, in Gaza City. EPA
    A Palestinian worker from the United Nation Relief and Works Agency (UNRWA) handles food supplies, in Gaza City. EPA
  • Displaced Yemenis get emergency food aid provided by a local relief group, Mona Relief Yemen in the western province of Hajjah, Yemen. EPA
    Displaced Yemenis get emergency food aid provided by a local relief group, Mona Relief Yemen in the western province of Hajjah, Yemen. EPA
  • A volunteer of the "Nass el-Khir" association prepares food for meals to be distributed among those in need in Algeria's capital Algiers. AFP
    A volunteer of the "Nass el-Khir" association prepares food for meals to be distributed among those in need in Algeria's capital Algiers. AFP
  • A worker of the United Nations Relief and Works Agency for Palestine Refugees stands in the back of a truck delivering food aid to families in need in Gaza City. AFP
    A worker of the United Nations Relief and Works Agency for Palestine Refugees stands in the back of a truck delivering food aid to families in need in Gaza City. AFP
  • A Palestinian worker at the United Nation Relief and Works Agency (UNRWA) distributes food aid rations for refugee families, in Gaza City. EPA
    A Palestinian worker at the United Nation Relief and Works Agency (UNRWA) distributes food aid rations for refugee families, in Gaza City. EPA
  • A Yemeni boy carries a portion of food aid, distributed by Yadon Tabney development foundation, in Yemen's capital Sanaa. AFP
    A Yemeni boy carries a portion of food aid, distributed by Yadon Tabney development foundation, in Yemen's capital Sanaa. AFP
  • A Palestinian worker at the United Nation Relief and Works Agency distributes food aid rations for refugee families, in Gaza City. EPA
    A Palestinian worker at the United Nation Relief and Works Agency distributes food aid rations for refugee families, in Gaza City. EPA
  • Members of a Palestinian family stand through the door of their home as they receive food aid provided by the United Nations Relief and Works Agency for Palestine Refugees in Gaza City. AFP
    Members of a Palestinian family stand through the door of their home as they receive food aid provided by the United Nations Relief and Works Agency for Palestine Refugees in Gaza City. AFP
  • Displaced Yemenis receive food supplies provided by the World Food Programme, at a school in Sanaa, Yemen. AP Photo
    Displaced Yemenis receive food supplies provided by the World Food Programme, at a school in Sanaa, Yemen. AP Photo
  • Palestinian employees at the United Nations Relief and Works Agency for Palestinian Refugees prepare food aid rations. AFP
    Palestinian employees at the United Nations Relief and Works Agency for Palestinian Refugees prepare food aid rations. AFP
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From 5.30pm in the following order:

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Marcelo Pontes (BRA) v Azouz Anwar (EGY)

Catchweight 90kg

Moustafa Rashid Nada (KSA) v Imad Al Howayeck (LEB)

Welterweight

Mohammed Al Khatib (JOR) v Gimbat Ismailov (RUS)

Flyweight (women)

Lucie Bertaud (FRA) v Kelig Pinson (BEL)

Lightweight

Alexandru Chitoran (BEL) v Regelo Enumerables Jr (PHI)

Catchweight 100kg

Mohamed Ali (EGY) v Marc Vleiger (NED)

Featherweight

James Bishop (AUS) v Mark Valerio (PHI)

Welterweight

Gerson Carvalho (BRA) v Abdelghani Saber (EGY)

Middleweight 

Bakhtiyar Abbasov (AZE) v Igor Litoshik (BLR)

Bantamweight:

Fabio Mello (BRA) v Mark Alcoba (PHI)

Welterweight

Ahmed Labban (LEB) v Magomedsultan Magemedsultanov (RUS)

Bantamweight

Trent Girdham (AUS) v Jayson Margallo (PHI)

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Usman Nurmagomedov (RUS) v Roman Golovinov (UKR)

Middleweight

Tarek Suleiman (SYR) v Steve Kennedy (AUS)

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Dan Moret (USA) v Anton Kuivanen (FIN)

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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”.

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Final round

25 under -  Antoine Rozner (FRA)

23 - Francesco Laporta (ITA), Mike Lorenzo-Vera (FRA), Andy Sullivan (ENG), Matt Wallace (ENG)

21 - Grant Forrest (SCO)

20 - Ross Fisher (ENG)

19 - Steven Brown (ENG), Joakim Lagergren (SWE), Niklas Lemke (SWE), Marc Warren (SCO), Bernd Wiesberger (AUT)

India team for Sri Lanka series

Test squad: Rohit Sharma (captain), Priyank Panchal, Mayank Agarwal, Virat Kohli, Shreyas Iyer, Hanuma Vihari, Shubhman Gill, Rishabh Pant (wk), KS Bharath (wk), Ravindra Jadeja, Jayant Yadav, Ravichandran Ashwin, Kuldeep Yadav, Sourabh Kumar, Mohammed Siraj, Umesh Yadav, Mohammed Shami, Jasprit Bumrah.

T20 squad: Rohit Sharma (captain), Ruturaj Gaikwad, Shreyas Iyer, Surya Kumar Yadav, Sanju Samson, Ishan Kishan (wk), Venkatesh Iyer, Deepak Chahar, Deepak Hooda, Ravindra Jadeja, Yuzvendra Chahal, Ravi Bishnoi, Kuldeep Yadav, Mohammed Siraj, Bhuvneshwar Kumar, Harshal Patel, Jasprit Bumrah, Avesh Khan

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IF YOU GO
 
The flights: FlyDubai offers direct flights to Catania Airport from Dubai International Terminal 2 daily with return fares starting from Dh1,895.
 
The details: Access to the 2,900-metre elevation point at Mount Etna by cable car and 4x4 transport vehicle cost around €57.50 (Dh248) per adult. Entry into Teatro Greco costs €10 (Dh43). For more go to www.visitsicily.info

 Where to stay: Hilton Giardini Naxos offers beachfront access and accessible to Taormina and Mount Etna. Rooms start from around €130 (Dh561) per night, including taxes.

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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.”

Updated: June 26, 2022, 2:13 PM