Among the many effects that climate change are having on our planet, the rise in sea levels is probably the most alarming for some nations ― because it means they could no longer exist.
Much of the Indian Ocean archipelago of the Maldives, for example, stands just a few feet above sea level and so is predicted to disappear under the waves this century.
"The most significant impact of climate change will be sea-level rises," Dr Nasser Karami, a climate change researcher in Norway, said. "It will destroy island countries in the Pacific Ocean, the Indian Ocean or other places."
Larger and richer nations may not face an existential crisis, but they are far from immune to the effects of sea-level rises.
Rising sea-level rises will destroy island countries in the Pacific Ocean, the Indian Ocean or other places
Dr Nasser Karami,
a climate change researcher
UN figures show that about 40 per cent of the world's population live within 100 kilometres of a coast, so significant numbers of people could see their lives upended.
Major coastal cities such as New York may face significant challenges, Dr Karami said. Simulations by the advocacy group the Union of Concerned Scientists indicate that much of the US’s eastern seaboard could suffer dozens of flooding events per year as soon as 2035, even without accounting for storm surges.
Sea levels to rise faster now than in past decades
With warmer temperatures causing the sea to expand and glaciers and ice sheets to melt, the world's seas have risen by an average of more than 20 centimetres since the late 19th century.
A report released in February by the US National Oceanic and Atmospheric Administration and other American government agencies forecast that, from now until 2050, seas will rise a further 10 to 12 inches (25 to 30 centimetres) — more than they have risen over the previous century.
By the mid-century, moderate flooding, which causes disruption and damage to infrastructure, is likely to happen 10 times as often as it does now.
Aside from the effects on coastal communities, there will be consequences for agricultural areas and underground aquifers, which may become contaminated with salt. Wildlife will suffer when natural environments become flooded.
Rises in sea levels are accompanied by increases in the frequency of typhoons, hurricanes and other extreme events, causing storm surges with the potential to devastate coastal communities.
Aftermath of Cyclone Shaheen in Oman – in pictures
Richard Crowther, head of maritime at WSP Middle East, an engineering consultancy that advises on coastal developments, said more extreme weather events were already being seen in the Gulf of Oman and the Indian Ocean.
Modelling WSP carried out with Oman’s Sohar International Port Company and Deltares, another consultancy, suggests that recent cyclones such as Gonu (in 2007) and Kyarr (in 2019) were more severe than would be expected once every century.
"This, therefore, indicated that the estimated return periods for predicted weather events were overestimated, with high magnitude events seemingly occurring more frequently," Mr Crowther said.
Problems are set to intensify, because even under low emissions scenarios, sea levels will continue to rise.
The US National Oceanic and Atmospheric Administration's 2022 Sea Level Rise Technical Report found that at least two feet (0.61 metres) of increase are likely along the US coastline by 2100 because of emissions released until now.
"Failing to curb emissions could cause an additional 1.5 to five feet of rise, for a total of 3.5 to seven feet by the end of this century," the report summary stated.
GCC’s Catch-22: conservative estimates to build coastal properties
A 2021 report of the Intergovernmental Panel on Climate Change warned that global mean sea levels could rise by two metres if greenhouse gas emissions continued at a high rate.
"This presents a Catch-22 for the GCC region as many coastal developments are currently designed using appropriately conservative considerations, which project around one metre of sea-level rise in the next 100 years," Mr Crowther said.
The vulnerability of infrastructure and populations to sea-level rises varies greatly, said Fawzi Dibis, WSP Middle East’s manager for sustainability and climate change. This stems from differences in geography, altitudes and economic models.
"The World Bank highlights that low-lying coastal areas in Tunisia, Qatar, Libya, the UAE, Kuwait and particularly Egypt are at risk," he said.
Areas that will be affected by 1m sea level rise, according to modelling by Climate Central:
The Nile Delta, for example, will face increasing erosion rates; inundation of wetlands and other low-lying areas; increased flooding; faster retreat of the coastline, including erosion of sand dunes and the coastal sand belt; the breaching of coastal barriers; and damage of coastal inlets.
"This would impact the livelihood of huge population centres in Egypt and pose threats to food security, as most agricultural production occurs in the Nile Delta," Mr Dibis said. He added that creating sand dunes and dykes, and preserving existing wetlands, could reduce the risks.
Given that increasing numbers of people and assets could be at risk, Mr Crowther said it was "crucial to ensure that the formation levels of urban developments on coastal areas are raised".
He said investing early in a project to ensure it is able to cope with the stresses of climate change could reduce risks and costs and "ensure fewer stranded assets".
Some projects do take into account the potential for significant sea-level rises, and protection for developments can be unobtrusive and have the potential to be strengthened over time.
Mr Crowther cited as an example WSP’s work on the Marine Life Institute, part of a development called Amaala on the north-west coast of Saudi Arabia.
"We designed partitions for a unique sea wall around the perimeter, which is purposefully designed to take into account sea-level rise and waves by mitigating the exchange of water from one side to the other, all whilst limiting the visual impact," he said.
"By designing this unique feature with an upgradable approach, the acrylic screen partition can be modified in height as sea levels rise over time to preserve both the visual impact of the structure, as well as extend the lifespan of the overall asset."
Coral bleaching and higher salinity
A sea-level rise is far from the only effect climate change is having on seas and oceans. Coral reef bleaching, in which heat stress causes coral to expel the algae that are essential for their functioning, is another consequence, as is harm to fish numbers from high temperatures.
When it comes to temperature increases, the Arabian Gulf is likely to be one of the most heavily affected seas in the world. The Intergovernmental Panel on Climate Change is forecasting a 4.26°C increase in surface temperature between 2010 and 2039.
"Algal blooms and dead zone areas are likely to grow as increases in temperature lead to increased stratification of oxygenated water and concentrate pollutants, thus negatively impacting coastal tourism," Mr Dibis said.
"Additionally, increased evaporation has been linked to an increase in salinity of seawater, which may disrupt marine ecosystems. This could evolve to the potential demise of mangroves and other species."
Higher salinity could also affect desalination plants, power stations and other infrastructure, something that operators will have to consider.
"It’s essential to embed systematic risk management frameworks, adaptation and resilience strategies, and an accelerated pathway to decarbonisation," Mr Dibis said.
Animals in danger of extinction due to climate change - in pictures
War 2
Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
Profile box
Founders: Michele Ferrario, Nino Ulsamer and Freddy Lim
Started: established in 2016 and launched in July 2017
Based: Singapore, with offices in the UAE, Malaysia, Hong Kong, Thailand
Sector: FinTech, wealth management
Initial investment: $500,000 in seed round 1 in 2016; $2.2m in seed round 2 in 2017; $5m in series A round in 2018; $12m in series B round in 2019; $16m in series C round in 2020 and $25m in series D round in 2021
Current staff: more than 160 employees
Stage: series D
Investors: EightRoads Ventures, Square Peg Capital, Sequoia Capital India
The five pillars of Islam
Abu Dhabi GP schedule
Friday: First practice - 1pm; Second practice - 5pm
Saturday: Final practice - 2pm; Qualifying - 5pm
Sunday: Etihad Airways Abu Dhabi Grand Prix (55 laps) - 5.10pm
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
COMPANY%20PROFILE
%3Cp%3EFounder%3A%20Hani%20Abu%20Ghazaleh%3Cbr%3EBased%3A%20Abu%20Dhabi%2C%20with%20an%20office%20in%20Montreal%3Cbr%3EFounded%3A%202018%3Cbr%3ESector%3A%20Virtual%20Reality%3Cbr%3EInvestment%20raised%3A%20%241.2%20million%2C%20and%20nearing%20close%20of%20%245%20million%20new%20funding%20round%3Cbr%3ENumber%20of%20employees%3A%2012%3C%2Fp%3E%0A
Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
Torque: 320Nm
Price: From Dh147,000
Available: Now
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
Sheikh Zayed's poem
When it is unveiled at Abu Dhabi Art, the Standing Tall exhibition will appear as an interplay of poetry and art. The 100 scarves are 100 fragments surrounding five, figurative, female sculptures, and both sculptures and scarves are hand-embroidered by a group of refugee women artisans, who used the Palestinian cross-stitch embroidery art of tatreez. Fragments of Sheikh Zayed’s poem Your Love is Ruling My Heart, written in Arabic as a love poem to his nation, are embroidered onto both the sculptures and the scarves. Here is the English translation.
Your love is ruling over my heart
Your love is ruling over my heart, even a mountain can’t bear all of it
Woe for my heart of such a love, if it befell it and made it its home
You came on me like a gleaming sun, you are the cure for my soul of its sickness
Be lenient on me, oh tender one, and have mercy on who because of you is in ruins
You are like the Ajeed Al-reem [leader of the gazelle herd] for my country, the source of all of its knowledge
You waddle even when you stand still, with feet white like the blooming of the dates of the palm
Oh, who wishes to deprive me of sleep, the night has ended and I still have not seen you
You are the cure for my sickness and my support, you dried my throat up let me go and damp it
Help me, oh children of mine, for in his love my life will pass me by.
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.”
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
If%20you%20go
%3Cp%3EThere%20are%20regular%20flights%20from%20Dubai%20to%20Kathmandu.%20Fares%20with%20Air%20Arabia%20and%20flydubai%20start%20at%20Dh1%2C265.%3Cbr%3EIn%20Kathmandu%2C%20rooms%20at%20the%20Oasis%20Kathmandu%20Hotel%20start%20at%20Dh195%20and%20Dh120%20at%20Hotel%20Ganesh%20Himal.%3Cbr%3EThird%20Rock%20Adventures%20offers%20professionally%20run%20group%20and%20individual%20treks%20and%20tours%20using%20highly%20experienced%20guides%20throughout%20Nepal%2C%20Bhutan%20and%20other%20parts%20of%20the%20Himalayas.%3C%2Fp%3E%0A
WHAT%20MACRO%20FACTORS%20ARE%20IMPACTING%20META%20TECH%20MARKETS%3F
%3Cp%3E%E2%80%A2%20Looming%20global%20slowdown%20and%20recession%20in%20key%20economies%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Russia-Ukraine%20war%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Interest%20rate%20hikes%20and%20the%20rising%20cost%20of%20debt%20servicing%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Oil%20price%20volatility%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Persisting%20inflationary%20pressures%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Exchange%20rate%20fluctuations%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Shortage%20of%20labour%2Fskills%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20A%20resurgence%20of%20Covid%3F%3C%2Fp%3E%0A
PROFILE OF HALAN
Started: November 2017
Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga
Based: Cairo, Egypt
Sector: transport and logistics
Size: 150 employees
Investment: approximately $8 million
Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar
Indoor Cricket World Cup Dubai 2017
Venue Insportz, Dubai; Admission Free
Day 1 fixtures (Saturday)
Men 1.45pm, Malaysia v Australia (Court 1); Singapore v India (Court 2); UAE v New Zealand (Court 3); South Africa v Sri Lanka (Court 4)
Women Noon, New Zealand v South Africa (Court 3); England v UAE (Court 4); 5.15pm, Australia v UAE (Court 3); England v New Zealand (Court 4)
Meatless Days
Sara Suleri, with an introduction by Kamila Shamsie
Penguin