The heat is on: warming world puts much-loved animals and plants at risk


Paul Peachey
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Animals such as the leatherback turtle, snow leopard and emperor penguin face a growing threat of extinction if governments fail to tackle global warming, a new report said on Wednesday.

The Worldwide Fund for Nature study highlights how 12 types of animals and plants are already suffering from the effects of climate change and says robust action is needed at this year's Cop26 summit in Britain to prevent catastrophe.

The conservation charity said many kinds of animals and plants were already under stress across the world, from the Amazon rainforests to the wilderness of the Antarctic. The year 2020 marked the end of the hottest decade on record.

Climate change is increasing the intensity of extreme events, such as heatwaves, floods and bushfires. Global warming is melting the polar ice caps and heating the oceans, leading to rising sea levels.

The report warned world leaders that failing to limit global warming to 1.5°C more than pre-industrial levels would lead to disaster, with each half-degree increase leading to the permanent damage of vital ecosystems.

Current projections are for a temperature rise of 2.4°C by the end of the century.

"If we are to secure a future for some of our most iconic species and habitats, and indeed ourselves, then 2021 must be a turning point," said Tanya Steele, chief executive of WWF.

The charity highlighted figures that showed populations of mammals, birds, fish, amphibians and reptiles across the world have fallen by an average of 68 per cent since 1970.

“World leaders must seize the chance at Cop26 to build a greener, fairer future – one with nature at its heart,” Ms Steele said.

Those under threat cover all animal and plant groups – ranging from the hippopotamus in southern Africa to the bumblebee in Britain.

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The report said the Arabica bean – which originated in Ethiopia and is used to make 60 per cent of the world’s coffee – is suffering from dramatic weather shifts and rising temperatures.

In the wild in Ethiopia, the species is projected to decline by up to 80 per cent by 2080, it said.

Poaching and the loss of habitat has already reduced the number of snow leopards to about 4,000 across 12 countries.

Warmer temperatures are changing their habitat, with the treeline shifting higher up the mountains and restricting the big cat’s hunting grounds.

Environmental changes are likely to lead to more snow leopards being killed by farmers, as they take their livestock higher up the mountains.

In countries such as Bhutan and Nepal, habitat loss for snow leopards is soon likely to exceed 80 per cent, the report called Feeling the Heat: The Fate of Nature Beyond 1.5°C of Global Warming said.

The authors highlighted the fate of leatherback turtles, whose breeding patterns rely on temperature.

The sex of a turtle depends on the temperature of the sand on the beach where its egg is laid. Hotter sand leads to a disproportionately high number of females. One major nesting site in Costa Rica produced 90 per cent female leatherback hatchlings.

While turtles and tortoises have been around for 220 million years, more than half of the 360 species are now threatened with extinction, the report said.

Hippos risk losing their wetlands and will struggle in higher temperatures, while colonies of emperor penguins in Antarctica face a bleak future because of melting ice where they mate and incubate their eggs.

In the UK, mountain hares in northern Scotland remain in their white winter coats long after the snow melts, leaving them vulnerable to predators.

Meanwhile, bluebells are blooming out of kilter with the seasons.

Warmwater coral reefs will be badly affected even by a 1.5°C rise in temperatures but will all but disappear with global warming of 2°C, the report said.

Off the coast of Australia, severe coral bleaching affected the central third of the Great Barrier Reef, the world's largest reef system, in 2016 and 2017 because of unusually warm sea temperatures.

The phenomenon of bleaching – when algae is expelled from overheated tissue – makes the coral more susceptible to disease and death.

Mike Barrett, head of science and conservation at WWF, said: "This isn't a far-off threat; the impacts of climate change are already being felt and if we don't act now to keep global warming to 1.5°C we will slide faster and faster towards catastrophe."
The WWF report said the 12 types of animals and plants facing particular danger are: the Atlantic puffin, mountain hare, bluebell, bumblebee, emperor penguin, snow leopard, leatherback turtle, Darwin's frog, warm-water coral reef, hippopotamus, Arabica coffee and the black-headed squirrel monkey.

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Fuel consumption, combined: 7.6L / 100km

Results

5pm: Al Maha Stables – Maiden (PA) Dh80,000 (Turf) 1,600m; Winner: Reem Baynounah, Fernando Jara (jockey), Mohamed Daggash (trainer)

5.30pm: Wathba Stallions Cup – Maiden (PA) Dh70,000 (T) 1,600m; Winner: AF Afham, Tadhg O’Shea, Ernst Oertel

6pm: Emirates Fillies Classic – Prestige (PA) Dh100,000 (T) 1,600m; Winner: Ghallieah, Sebastien Martino, Jean-Claude Pecout

6.30pm: Emirates Colts Classic – Prestige (PA) Dh100,000 (T) 1,600m; Winner: Yas Xmnsor, Saif Al Balushi, Khalifa Al Neyadi

7pm: The President’s Cup – Group 1 (PA) Dh2,500,000 (T) 2,200m; Winner: Somoud, Adrie de Vries, Jean de Roualle

7.30pm: The President’s Cup – Listed (TB) Dh380,000 (T) 1,400m; Winner: Haqeeqy, Dane O’Neill, John Hyde.

David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

The Baghdad Clock

Shahad Al Rawi, Oneworld

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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.”