Britain embraces green future but is urged to accelerate change


Jamie Prentis
  • English
  • Arabic

Nestled by the A131 dual carriageway in Essex is a new service station, the opening of which this week was hailed as a stepping stone to the future of motoring in Britain.

The reason? There was not a petrol pump in sight. Instead, 36 electric cars are able to recharge their batteries simultaneously, with electricity generated from solar-power canopies.

From day one, Teslas and Minis can roll in, their drivers able to pop into the shops while their cars remain plugged in.

The site, set up by green energy company Gridserve, is the UK’s first electric forecourt and it plans to unveil more than 100 over the next five years.

It is just one example of many innovative companies wanting to ride the green wave, as the world tries to rapidly come to grips with the climate emergency and necessity of moving to a greener economy.

This weekend, Prime Minister Boris Johnson hosts a Climate Action Summit on the fifth anniversary of the Paris Agreement, when the global community took perhaps its greatest step in turning to a sustainable way of living.

A climate agreement backed plans to limit global warming to 1.5-2°C above pre-industrial levels and it is hoped that this weekend countries will lay out in great detail ambitious targets to reduce emissions.

It was hoped the Paris agreement would spur countries into action. Some have enacted laws that set net-zero targets ranging from 2045 to 2060.

But while experts have welcomed the developments of the past five years, they warn that they are not even close to enough.

Questions remain if lofty aims are to be translated into tangible change and action.

A damning UN report released on Wednesday shows that greenhouse emissions reached a new high in 2019, while 2020 brought wildfires, intense storms and droughts.

The Covid-19 pandemic and ensuing economic shutdown did lead to cleaner air but in reality, the long-term effects are likely to be almost nil.

Dr Alison Doig, of the Energy and Climate Intelligence Unit, says that political momentum is good but policymakers must understand that change must happen immediately.

If there is not greater movement now, temperatures will rise above the target at some point, something that the most at-risk parts of the world, such as Bangladesh and Nigeria’s largest city Lagos, cannot afford, Dr Doig said.

“Ultimately, the next 10 years are going to be critical for staying below the 1.5°C target, absolutely critical," she said..

“That means all these long-term net-zero aims by 2050, 2060 in China, they all need to have these short-term targets for 2030 that ramp up pressure."

Last week, the British government announced its new target of reducing emissions by at least 68 per cent by 2030, compared to 1990 levels, partly to encourage others to “raise the bar” at this week’s climate summit and the Cop26 climate conference in Glasgow next year.

But some say the targets are not ambitious enough.

E3G, a climate think tank that supports a quicker path to a low-carbon future, said these were steps the right direction while warning that the UK was not on track to meet its existing targets, let alone new ones.

Alex Scott, a senior policy adviser at E3G, hoped it would prompt change from countries making slow progress.

“Those who have shied away from climate action, such as Australia, Brazil and Russia, now have nowhere to hide," Ms Scott said.

"It’s time for these countries to realise the game is up and set stretching climate targets of their own, or risk being left behind in a global race to dominate the net-zero markets of the future."

On Wednesday, the UK Climate Change Committee said that for the government to meet its net-zero goals, polluting emissions must fall by 78 per cent of 1990 levels by 2035.

It said the 2020s was the “decisive decade” for action and progress on climate change, calling for every car, van and replacement boilers to be zero-carbon by the early 2030s.

Dr Doig said there has been some global progress since the Paris Agreement – for instance, the move towards wind and solar power.

“But the pace of change, the emissions reductions are just not happening at the speed that is needed," she said. "The conditions are right but the pace has to increase rapidly.”

Dr Doig said the climate reduction had to be delivered now for its effects to be felt in the future, through the way homes are insulated and in farming and transport.

“All of these things are going to have to start changing right away so that we start to bring the emissions down right away," she said.

"The longer we delay, the harder keeping below 1.5°C will be. It’s as simple as that.

"So these targets have to be actually starting to deliver now, not leave it to the next half of the decade on someone else’s watch.”

The UN has asked business leaders to commit to targets that would fall into line with limiting the temperature rise to 1.5°C above pre-industrial levels.

Some firms have begun to deliver although how quickly others will catch on is unclear.

As noted by UN Secretary General Antonio Guterres, by early next year countries comprising 65 per cent of carbon dioxide emissions will have made commitments to carbon neutrality.

“We must turn this momentum into a movement,” he said, a view echoed by Dr Doig.

“The message is, it’s great to have this political momentum but we need to start delivering,” she said.

Lockdown causes record drop in carbon dioxide emissions

The Covid-19 pandemic which has devastated lives and economies may have had a positive effect on the environment.

Restrictions saw fossil carbon dioxide emissions plummet by an estimated 2.4 billion tonnes in 2020 – a record fall according to researchers at the University of East Anglia, University of Exeter and the Global Carbon Project.

It is considerably larger than previous significant decreases and means that in 2020, fossil carbon dioxide emissions are predicted to be about 34 billion tonnes of carbon dioxide, 7 per cent lower than in 2019.

A sharp drop in the use of transport is the biggest reason for the chance. Journeys on surface transport fell by about half at the height of the lockdowns.

By December 2020, emissions from road transport and aviation were still below their 2019 levels, by about 10 per cent and 40 per cent, because of continuing restrictions.

Bentley – the luxury car maker with green intensions

Bentley is best known as a luxury car maker, with models such as the Bentayga notorious for burning through petrol quickly while pumping out high emissions.

But it is now one of the leading high-level makers forging a greener path.

Last month, chief executive Adrian Hallmark said that by 2030, all of its cars would be entirely electric, as he pledged to get rid of combustion engines.

"We are not only working on one electric car but a full family of electric cars,” Mr Hallmark said.

Last year, Bentley's headquarters in Crewe became the UK’s first carbon-neutral automotive factory.

About 10,000 solar panels have been installed at the site, with 100 per cent of electricity generated by solar energy or bought as green electricity.

Gridserve – from 'sun to wheel'

Meanwhile, back at the new Gridserve non-petrol station in Essex, up to 36 cars can access 350 kilowatts of charging power in two hours – enough for more than 320 kilometres of travel.

"It’s our collective responsibility to prevent greenhouse gas emissions rising further, and electric vehicles powered by clean energy represent a large part of the solution," said Gridserve chief executive Toddington Harper.

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

Manchester United's summer dealings

In

Victor Lindelof (Benfica) £30.7 million

Romelu Lukaku (Everton)  £75 million

Nemanja Matic (Chelsea)  £40 million

 

Out

Zlatan Ibrahimovic Released

Wayne Rooney (Everton) Free transfer

Adnan Januzaj (Real Sociedad) £9.8 million

 

 

Specs

Engine: 51.5kW electric motor

Range: 400km

Power: 134bhp

Torque: 175Nm

Price: From Dh98,800

Available: Now

FIXTURES

All times UAE ( 4 GMT)

Saturday
Fiorentina v Torino (8pm)
Hellas Verona v Roma (10.45pm)

Sunday
Parma v Napoli (2.30pm)
Genoa v Crotone (5pm)
Sassuolo v Cagliari (8pm)
Juventus v Sampdoria (10.45pm)

Monday
AC Milan v Bologna (10.45om)

Playing September 30

Benevento v Inter Milan (8pm)
Udinese v Spezia (8pm)
Lazio v Atalanta (10.45pm)

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.

While you're here
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

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

The%20specs
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COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Switch%20Foods%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Edward%20Hamod%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Abu%20Dhabi%2C%20UAE%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Plant-based%20meat%20production%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2034%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%246.5%20million%3Cbr%3E%3Cstrong%3EFunding%20round%3A%3C%2Fstrong%3E%20Seed%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Based%20in%20US%20and%20across%20Middle%20East%3C%2Fp%3E%0A

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.”

Ibrahim's play list

Completed an electrical diploma at the Adnoc Technical Institute

Works as a public relations officer with Adnoc

Apart from the piano, he plays the accordion, oud and guitar

His favourite composer is Johann Sebastian Bach

Also enjoys listening to Mozart

Likes all genres of music including Arabic music and jazz

Enjoys rock groups Scorpions and Metallica 

Other musicians he likes are Syrian-American pianist Malek Jandali and Lebanese oud player Rabih Abou Khalil

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3ESmartCrowd%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ESiddiq%20Farid%20and%20Musfique%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%20%2F%20PropTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3E%24650%2C000%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2035%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EVarious%20institutional%20investors%20and%20notable%20angel%20investors%20(500%20MENA%2C%20Shurooq%2C%20Mada%2C%20Seedstar%2C%20Tricap)%3C%2Fp%3E%0A
Past winners of the Abu Dhabi Grand Prix

2016 Lewis Hamilton (Mercedes-GP)

2015 Nico Rosberg (Mercedes-GP)

2014 Lewis Hamilton (Mercedes-GP)

2013 Sebastian Vettel (Red Bull Racing)

2012 Kimi Raikkonen (Lotus)

2011 Lewis Hamilton (McLaren)

2010 Sebastian Vettel (Red Bull Racing)

2009 Sebastian Vettel (Red Bull Racing)

 

Company profile

Name: Dukkantek 

Started: January 2021 

Founders: Sanad Yaghi, Ali Al Sayegh and Shadi Joulani 

Based: UAE 

Number of employees: 140 

Sector: B2B Vertical SaaS(software as a service) 

Investment: $5.2 million 

Funding stage: Seed round 

Investors: Global Founders Capital, Colle Capital Partners, Wamda Capital, Plug and Play, Comma Capital, Nowais Capital, Annex Investments and AMK Investment Office  

PROFILE OF INVYGO

Started: 2018

Founders: Eslam Hussein and Pulkit Ganjoo

Based: Dubai

Sector: Transport

Size: 9 employees

Investment: $1,275,000

Investors: Class 5 Global, Equitrust, Gulf Islamic Investments, Kairos K50 and William Zeqiri

UAE currency: the story behind the money in your pockets
The Bio

Favourite holiday destination: Either Kazakhstan or Montenegro. I’ve been involved in events in both countries and they are just stunning.

Favourite book: I am a huge of Robin Cook’s medical thrillers, which I suppose is quite apt right now. My mother introduced me to them back home in New Zealand.

Favourite film or television programme: Forrest Gump is my favourite film, that’s never been up for debate. I love watching repeats of Mash as well.

Inspiration: My late father moulded me into the man I am today. I would also say disappointment and sadness are great motivators. There are times when events have brought me to my knees but it has also made me determined not to let them get the better of me.

Ad Astra

Director: James Gray

Stars: Brad Pitt, Tommy Lee Jones

Five out of five stars 

What can victims do?

Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.