Greenland's enormous ice sheet has lost 4.7 trillion tonnes in 20 years. AFP
Greenland's enormous ice sheet has lost 4.7 trillion tonnes in 20 years. AFP
Greenland's enormous ice sheet has lost 4.7 trillion tonnes in 20 years. AFP
Greenland's enormous ice sheet has lost 4.7 trillion tonnes in 20 years. AFP

Major sea-level rise now 'locked in' due to melting of Greenland Ice Sheet


Gillian Duncan
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A major sea-level rise is now locked in as a result of the melting of the Greenland Ice Sheet, even if more is done to halt global warming, a new study suggests.

Scientists say damage done to date will cause a minimum sea-level rise of 27cm, as 110 trillion tonnes of ice thaws.

And if the area’s record melt year of 2012 occurs routinely, the ice cap could deliver almost a 78cm sea-level rise in the future, said the scientists behind the study, which was published in the journal Nature Climate Change.

That would serve as “an ominous prognosis for Greenland’s trajectory through a twenty-first century of warming,” wrote the authors.

Professor Jason Box from the National Geological Survey of Denmark and Greenland (Geus), who led the research, said the 27cm change was “very conservative rock-bottom minimum” and guaranteed, despite all efforts to prevent it.

“Realistically, we will see this figure more than double within this century,” he told The Guardian.

The Greenland Ice Sheet, which is on average 2,600 metres thick, is the world’s second largest after Antarctica.

It contains roughly 8 per cent of the planet’s total supply of fresh water.

Melting of the ice sheet has caused about 25 per cent of global sea level rise over the last few decades, according to estimates.

But if the entire sheet thawed, US space agency Nasa has said the sea level would rise by seven metres, endangering the lives and livelihoods of nearly one-third of the world’s population, who live in or near a coastal zone.

A sea-level rise of only between 60cm and 90cm, which is theoretically possible under one of the study’s scenarios, if record melt years become common, would, according to Nasa, create serious global problems: increased coastal erosion, salt water encroachment, loss of barrier formations like islands, sandbars, and reefs, and increased storm surge damage.

The study used a different methodology compared to previous analyses, which have typically used computer models to predict ice cap behaviour.

For this one, scientists studied satellite measurements of ice loss and the shape of the cap.

That allowed them to calculate how far global heating to date has pushed the sheet from the balance where snowfall matches the amount of ice lost.

Last year, scientists gave warnings that the melting of the Jakobshavn drainage basin in Greenland was nearing the tipping point from where it could not recover.

Data indicated that a critical threshold had been reached after a century of accelerated melting.

And in 2012, the ice sheet in Greenland underwent an unprecedented rate of thawing. For a few days during July, 97 per cent of the entire ice sheet indicated surface melting.

“If [2012] becomes a normal year, then the committed loss grows to 78cm, which is staggering, and the fact that we’re already flickering into that range [of ice loss] is shocking,” Dr William Colgan, who is at Geus, told The Guardian.

“But the difference between 78cm and 27cm highlights the [difference] that can be made through implementing the Paris agreement. There is still a lot of room to minimise the damage.”

However, he said there is growing support about the likelihood of a multi-metre sea level rise in the next 100 to 200 years.

Scientists say there are ominous signs of temperature change in both polar regions.

In February 2020, a research base on the northern tip of the Antarctic Peninsula recorded a record high temperature of 18.3°C, according to Argentina’s national meteorological service. And the mercury hit 38°C in the Russian town of Verkhoyansk, an Arctic record.

And in the following year, rain fell at the highest point on the Greenland ice sheet in the Arctic for the first time on record.

Earlier this year, scientists were stunned when the temperature in the Antarctic plateau rose 40°C higher than normal.

Concordia Station, located high on the Antarctic Plateau, hit a record temperature of -11.8ºC, more than 40ºC above the annual average for three days in March.

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.”

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Dubai College A 50-12 Dubai College B

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While you're here
Libya's Gold

UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves. 

The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.

Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.

A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.

Winners

Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)

Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)

Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)

Best Young Women’s Player
Vicky López (Barcelona / Spain)

Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)

Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)

Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)

Women’s Coach of the Year
Sarina Wiegman (England)

BMW M5 specs

Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor

Power: 727hp

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Transmission: 8-speed auto

Fuel consumption: 10.6L/100km

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Profile box

Company name: baraka
Started: July 2020
Founders: Feras Jalbout and Kunal Taneja
Based: Dubai and Bahrain
Sector: FinTech
Initial investment: $150,000
Current staff: 12
Stage: Pre-seed capital raising of $1 million
Investors: Class 5 Global, FJ Labs, IMO Ventures, The Community Fund, VentureSouq, Fox Ventures, Dr Abdulla Elyas (private investment)

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

Juliot Vinolia’s checklist for adopting alternate-day fasting

-      Don’t do it more than once in three days

-      Don’t go under 700 calories on fasting days

-      Ensure there is sufficient water intake, as the body can go in dehydration mode

-      Ensure there is enough roughage (fibre) in the food on fasting days as well

-      Do not binge on processed or fatty foods on non-fasting days

-      Complement fasting with plant-based foods, fruits, vegetables, seafood. Cut out processed meats and processed carbohydrates

-      Manage your sleep

-      People with existing gastric or mental health issues should avoid fasting

-      Do not fast for prolonged periods without supervision by a qualified expert

Company Fact Box

Company name/date started: Abwaab Technologies / September 2019

Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO

Based: Amman, Jordan

Sector: Education Technology

Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed

Stage: early-stage startup 

Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.

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The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat 

Updated: August 30, 2022, 2:54 PM