Climate change is worsening the increasingly worrisome issue of invasive species, which is costing the global economy more than $400 billion a year, scientists say.
Alien species, known for spreading diseases and ravaging ecosystems globally, are increasing sharply, as are the bills for the damage they cause.
According to a new landmark study, that number, on average, has quadrupled every decade since 1970.
The report, published on Monday by the intergovernmental science advisory panel for the UN Convention on Biodiversity (Ipbes), warns of the possible health risks invasive species pose for people, including the spread of disease.
Food security and livelihoods are also being jeopardised, while invasive species are a factor in most plant and animal extinctions.
Climate change will make the situation worse
Prof Helen Roy,
UK Centre for Ecology and Hydrology
The Assessment Report on Invasive Alien Species and their Control was produced by 86 experts from 49 countries and catalogued more than 37,000 species that have settled far from their places of origin.
Of these, 3,500 are described as invasive, meaning they cause harm to native species or agriculture.
The Ipbes report estimates the global economic cost of this to be about $423 billion per year.
Climate change to blame
Prof Helen Roy, an ecologist at the UK Centre for Ecology and Hydrology and co-chairperson of the assessment report, said that more species were likely to have been spread around the globe because of growth in the world economy, changes to the way land and sea are used, and population shifts.
"Even without the introduction of new alien species, already established alien species will continue to expand their ranges and spread to new countries and regions. Climate change will make the situation worse," she added.
Alien species may be able to multiply more easily because the predators that keep their numbers in check in their native habitats are absent in the areas into which they have been introduced.
Species may be introduced to parts of the world in which they are not native for a number of reasons.
Some are pets that escape, others are ornamental plants introduced because they are considered to be attractive.
Others are transported more inadvertently, such as marine invertebrates or plants attached to ships' hulls.
Some non-native species have been introduced to control other invasive creatures, only to become invasive themselves.
According to Ipbes, invasive species are one of the five key sources of biodiversity loss, others being climate change, pollution, direct exploitation of species (such as hunting or poaching) and changes in land and sea use (such as clearing the areas for agriculture).
At least 218 invasive alien species have been responsible for more than 1,200 local extinctions
Prof Anibal Pauchard,
Universidad de Conepcion's Faculty of Forest Sciences
"Invasive alien species have been a major factor in 60 per cent, and the only driver in 16 per cent, of global animal and plant extinctions that we have recorded, and at least 218 invasive alien species have been responsible for more than 1,200 local extinctions," Prof Anibal Pauchard, another co-chairperson of the assessment, said in a press release.
Alien insects, such as mosquitoes, are blamed for spreading diseases such as malaria, West Nile fever and Zika.
Invasive aquatic plant species, such as the water hyacinth, have affected fish numbers in places such as Lake Victoria in Africa.
Invasive plants have been blamed for providing extra fuel for wildfires.
About three quarters of the reported negative effects of invasive species are on land, with the most severe effects occurring on islands.
On more than 25 per cent of islands, Ipbes said, there are more alien plants than native ones.
More than 2,300 invasive species are found on lands managed by indigenous people with possible effects on their quality of life and cultural identity, the report said.
Six per cent of alien plant species are said to become invasive, compared with 14 per cent of alien vertebrates, 22 per cent of alien invertebrates and 11 per cent of alien micro-organisms.
Better border biosecurity and import controls is "absolutely the best and most cost-effective option" to prevent the introduction of non-native species, Prof Pauchard said.
In some situations, eradicating, containing and controlling alien invasives could also prove effective.
A global issue
As part of a biodiversity framework agreed upon last year, 196 governments set the target, by the end of the decade, to reducing alien introductions by half.
The Ipbes report came on the same day warnings were made that an invasive species – the Asian hornet – could damage native bee populations in the UK.
Efforts to limit the effect of invasive species include removing plants from areas in which they are causing harm, and killing mammals and birds.
The Environment Agency Abu Dhabi (EAD) recently announced that, since a campaign began in 2009, it had captured two million individuals of four invasive bird species, including types of crow, parakeet and pigeon.
In comments sent to The National, the EAD said there were "multifaceted benefits" from controlling invasive bird species, including safeguarding native birds.
"These efforts aid in ecosystem restoration by rectifying disruptions caused by invasive birds to natural dynamics, fostering balance and restoring the roles of native species," the EAD said.
Controlling invasive birds also reduces the effect these creatures may have on agriculture, according to the EAD.
On the other hand, animal welfare advocates have raised concerns about the killing of invasive species, something that happens in many countries.
They argue that control measures usually have only a temporary effect and that populations can bounce back, and also that methods of capturing and killing birds or animals may cause suffering.
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.”
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
'Top Gun: Maverick'
Rating: 4/5
Directed by: Joseph Kosinski
Starring: Tom Cruise, Val Kilmer, Jennifer Connelly, Jon Hamm, Miles Teller, Glen Powell, Ed Harris
The language of diplomacy in 1853
Treaty of Peace in Perpetuity Agreed Upon by the Chiefs of the Arabian Coast on Behalf of Themselves, Their Heirs and Successors Under the Mediation of the Resident of the Persian Gulf, 1853
(This treaty gave the region the name “Trucial States”.)
We, whose seals are hereunto affixed, Sheikh Sultan bin Suggar, Chief of Rassool-Kheimah, Sheikh Saeed bin Tahnoon, Chief of Aboo Dhebbee, Sheikh Saeed bin Buyte, Chief of Debay, Sheikh Hamid bin Rashed, Chief of Ejman, Sheikh Abdoola bin Rashed, Chief of Umm-ool-Keiweyn, having experienced for a series of years the benefits and advantages resulting from a maritime truce contracted amongst ourselves under the mediation of the Resident in the Persian Gulf and renewed from time to time up to the present period, and being fully impressed, therefore, with a sense of evil consequence formerly arising, from the prosecution of our feuds at sea, whereby our subjects and dependants were prevented from carrying on the pearl fishery in security, and were exposed to interruption and molestation when passing on their lawful occasions, accordingly, we, as aforesaid have determined, for ourselves, our heirs and successors, to conclude together a lasting and inviolable peace from this time forth in perpetuity.
Taken from Britain and Saudi Arabia, 1925-1939: the Imperial Oasis, by Clive Leatherdale
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
UAE currency: the story behind the money in your pockets
Tips on buying property during a pandemic
Islay Robinson, group chief executive of mortgage broker Enness Global, offers his advice on buying property in today's market.
While many have been quick to call a market collapse, this simply isn’t what we’re seeing on the ground. Many pockets of the global property market, including London and the UAE, continue to be compelling locations to invest in real estate.
While an air of uncertainty remains, the outlook is far better than anyone could have predicted. However, it is still important to consider the wider threat posed by Covid-19 when buying bricks and mortar.
Anything with outside space, gardens and private entrances is a must and these property features will see your investment keep its value should the pandemic drag on. In contrast, flats and particularly high-rise developments are falling in popularity and investors should avoid them at all costs.
Attractive investment property can be hard to find amid strong demand and heightened buyer activity. When you do find one, be prepared to move hard and fast to secure it. If you have your finances in order, this shouldn’t be an issue.
Lenders continue to lend and rates remain at an all-time low, so utilise this. There is no point in tying up cash when you can keep this liquidity to maximise other opportunities.
Keep your head and, as always when investing, take the long-term view. External factors such as coronavirus or Brexit will present challenges in the short-term, but the long-term outlook remains strong.
Finally, keep an eye on your currency. Whenever currency fluctuations favour foreign buyers, you can bet that demand will increase, as they act to secure what is essentially a discounted property.
Our Time Has Come
Alyssa Ayres, Oxford University Press
Company profile
Name: One Good Thing
Founders: Bridgett Lau and Micheal Cooke
Based in: Dubai
Sector: e-commerce
Size: 5 employees
Stage: Looking for seed funding
Investors: Self-funded and seeking external investors