Nearly seven in 10 British adults are not confident that the UK government will hit its target to cut emissions by 78 per cent by 2035, research shows.
Polling by YouGov, commissioned by the World Wide Fund for Nature, also found that 77 per cent believe the government should help fund changes to homes to make them more environmentally friendly.
Analysis from the WWF shows that only a minuscule amount of the 2021 Budget, about 0.01 per cent of gross domestic product, is being put towards climate change mitigation.
That is despite the UK government portraying itself as a key driver in tackling global warming and its effects. As president of the G7, the UK has put climate change at the heart of its agenda, and Glasgow will host the UN’s Cop26 climate conference in November.
The polling comes after the release earlier this week of a devastating report by the UN’s Intergovernmental Panel on Climate Change, which said the global temperature rise compared to pre-industrial levels is set to exceed 1.5°C in the 2030s.
“With nature in free fall and the climate in crisis, the clock is ticking for the planet, as the latest IPCC reports makes clear. It’s not yet too late to prevent global warming from rising above 1.5°C — it is in our hands. But to do that, the UK government must play its part by keeping every climate promise it has made,” said Isabella O’Dowd, head of climate change at WWF.
“The latest Budget simply doesn’t add up to the cleaner, greener future we all want to see. To turn things around, ministers must close the gap between their climate commitments and their spending plans, by adopting a Net Zero Test for all government spending ahead of the UK-hosted Cop26 climate summit in November.
“We won’t forget the government’s climate promises and, together with our supporters, we will hold government to account for delivering on them.”
The WWF said climate mitigation policies from the March 2021 Budget amounted to £145 million ($201m), “while policies that will drive up emissions — like the fuel duty freeze — equate to over £40 billion”.
“The net zero transition should be seen as an investment, not a cost. Making the right spending choices today to tackle the climate crisis will not only reduce costs in the future, but also unlock benefits for the UK economy,” Ms O’Dowd said.
“To ensure all households enjoy those benefits — from healthier homes to lower energy bills — the government must invest now, making good on its climate promises while ensuring no one is left behind in the transition to net zero.”
Most sought after workplace benefits in the UAE
- Flexible work arrangements
- Pension support
- Mental well-being assistance
- Insurance coverage for optical, dental, alternative medicine, cancer screening
- Financial well-being incentives
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5 of the most-popular Airbnb locations in Dubai
Bobby Grudziecki, chief operating officer of Frank Porter, identifies the five most popular areas in Dubai for those looking to make the most out of their properties and the rates owners can secure:
• Dubai Marina
The Marina and Jumeirah Beach Residence are popular locations, says Mr Grudziecki, due to their closeness to the beach, restaurants and hotels.
Frank Porter’s average Airbnb rent:
One bedroom: Dh482 to Dh739
Two bedroom: Dh627 to Dh960
Three bedroom: Dh721 to Dh1,104
• Downtown
Within walking distance of the Dubai Mall, Burj Khalifa and the famous fountains, this location combines business and leisure. “Sure it’s for tourists,” says Mr Grudziecki. “Though Downtown [still caters to business people] because it’s close to Dubai International Financial Centre."
Frank Porter’s average Airbnb rent:
One bedroom: Dh497 to Dh772
Two bedroom: Dh646 to Dh1,003
Three bedroom: Dh743 to Dh1,154
• City Walk
The rising star of the Dubai property market, this area is lined with pristine sidewalks, boutiques and cafes and close to the new entertainment venue Coca Cola Arena. “Downtown and Marina are pretty much the same prices,” Mr Grudziecki says, “but City Walk is higher.”
Frank Porter’s average Airbnb rent:
One bedroom: Dh524 to Dh809
Two bedroom: Dh682 to Dh1,052
Three bedroom: Dh784 to Dh1,210
• Jumeirah Lake Towers
Dubai Marina’s little brother JLT resides on the other side of Sheikh Zayed road but is still close enough to beachside outlets and attractions. The big selling point for Airbnb renters, however, is that “it’s cheaper than Dubai Marina”, Mr Grudziecki says.
Frank Porter’s average Airbnb rent:
One bedroom: Dh422 to Dh629
Two bedroom: Dh549 to Dh818
Three bedroom: Dh631 to Dh941
• Palm Jumeirah
Palm Jumeirah's proximity to luxury resorts is attractive, especially for big families, says Mr Grudziecki, as Airbnb renters can secure competitive rates on one of the world’s most famous tourist destinations.
Frank Porter’s average Airbnb rent:
One bedroom: Dh503 to Dh770
Two bedroom: Dh654 to Dh1,002
Three bedroom: Dh752 to Dh1,152
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Key changes
Commission caps
For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:
• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term).
• On the protection component, there is a cap of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).
• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated.
• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.
• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.
Disclosure
Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.
“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”
Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.
Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.
“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.
Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.