Britain's King Charles III. Reuters
Britain's King Charles III. Reuters
Britain's King Charles III. Reuters
Britain's King Charles III. Reuters

King Charles could have attended Cop27 'had Sunak been appointed sooner'


Soraya Ebrahimi
  • English
  • Arabic

Britain's King Charles may have been able to attend the Cop27 climate change summit in Egypt if Rishi Sunak had been installed in Downing Street earlier, the Prime Minister's office said.

It was now not feasible for the king to join next week’s international gathering at Egypt’s Red Sea resort of Sharm El Sheikh, a Downing Street spokeswoman said.

Mr Sunak took office only last week after the dramatic resignation of Liz Truss.

“We do recognise that had the prime minister been in post earlier, the situation might have been different but it is not logistically feasible at this late stage,” the spokeswoman said.

“There remains unanimous agreement between the palace and the government that the king will not attend.”

Sharm El Sheikh's preparations for Cop27 - in pictures

  • A billboard in Sharm El Sheikh ahead of the climate summit. All photos: Mahmoud Nasr / The National
    A billboard in Sharm El Sheikh ahead of the climate summit. All photos: Mahmoud Nasr / The National
  • Electric car chargers have been installed in petrol stations in Sharm El Sheikh to help the city go green.
    Electric car chargers have been installed in petrol stations in Sharm El Sheikh to help the city go green.
  • Egypt's first electric bus charging station has started working ahead of Cop27.
    Egypt's first electric bus charging station has started working ahead of Cop27.
  • Buses charge up at the station.
    Buses charge up at the station.
  • Solar panel power stations will provide energy for the city during Cop27.
    Solar panel power stations will provide energy for the city during Cop27.
  • Panel power in the sunlit desert.
    Panel power in the sunlit desert.

The disclosure will be regarded as the latest attempt by Mr Sunak to distance himself from the short tenure of Ms Truss.

It was widely reported that the king, who takes a passionate interest in environmental affairs and who addressed last year’s Cop26 summit in Glasgow, had hoped to attend in person.

But it is understood that after seeking the advice of Ms Truss, as is customary with royal visits overseas, it was agreed that he would not go.

Access limited for Cop27 climate activists — in pictures

  • The Cop27 summit in Sharm El Sheikh is the first annual UN climate conference to be held after the easing of Covid-19 restrictions. Campaigners see it as a crucial venue for raising the alarm over climate change and putting pressure on governments to act. All photos: Reuters
    The Cop27 summit in Sharm El Sheikh is the first annual UN climate conference to be held after the easing of Covid-19 restrictions. Campaigners see it as a crucial venue for raising the alarm over climate change and putting pressure on governments to act. All photos: Reuters
  • But they say voicing their concerns through rallies and protests as they have done in past host countries or cities will be more challenging in Egypt, where public demonstrations are effectively banned and activists have struggled to operate legally.
    But they say voicing their concerns through rallies and protests as they have done in past host countries or cities will be more challenging in Egypt, where public demonstrations are effectively banned and activists have struggled to operate legally.
  • Limits on accreditation and attendance badges for activists, especially from poorer nations, have also been a point of contention at previous UN climate summits.
    Limits on accreditation and attendance badges for activists, especially from poorer nations, have also been a point of contention at previous UN climate summits.
  • Egypt, which has only one NGO permanently accredited to attend the annual summits, says the inclusion of civil society is a priority, and it has helped to add more NGOs, including 35 Egyptian groups, through a single-year admission valid only for Cop27.
    Egypt, which has only one NGO permanently accredited to attend the annual summits, says the inclusion of civil society is a priority, and it has helped to add more NGOs, including 35 Egyptian groups, through a single-year admission valid only for Cop27.
  • That was a positive step but the process was not publicly announced and did not give some groups a fair chance to apply, said Hossam Bahgat, head of the Egyptian Initiative for Personal Rights and one of Egypt's best known campaigners.
    That was a positive step but the process was not publicly announced and did not give some groups a fair chance to apply, said Hossam Bahgat, head of the Egyptian Initiative for Personal Rights and one of Egypt's best known campaigners.
  • A representative of Egypt's Cop presidency said there had been a 'fully transparent' selection process approved by the UN after consultation with regional organisations and national negotiating teams. Egyptian groups were recommended based on their environment and climate change expertise, the representative said. A UN climate change spokesman said there had been about 10,000 registrations from close to 2,000 admitted observer organisations for Cop27, which was similar to Cop26 in Glasgow.
    A representative of Egypt's Cop presidency said there had been a 'fully transparent' selection process approved by the UN after consultation with regional organisations and national negotiating teams. Egyptian groups were recommended based on their environment and climate change expertise, the representative said. A UN climate change spokesman said there had been about 10,000 registrations from close to 2,000 admitted observer organisations for Cop27, which was similar to Cop26 in Glasgow.
  • Another concern among activists is the difficulty ordinary citizens may face in visiting Sharm El Sheikh. The city, situated at the southern tip of Egypt's Sinai peninsula, is bordered by the sea on one side and a concrete and wire barrier in the desert on the other.
    Another concern among activists is the difficulty ordinary citizens may face in visiting Sharm El Sheikh. The city, situated at the southern tip of Egypt's Sinai peninsula, is bordered by the sea on one side and a concrete and wire barrier in the desert on the other.
  • Some of those hoping to travel from outside Egypt have been put off by hotel prices that ran into hundreds of dollars a night earlier in the year. After lobbying from civil society, the government negotiated a $120 price cap for two-star hotels and announced cheaper accommodation in recent weeks. That included rooms for 400 young people at about $30 to $40 a night, and was designed to help African groups overcome long-standing obstacles to having access to Cop summits, said Omnia El-Omrani, Cop27's youth envoy.
    Some of those hoping to travel from outside Egypt have been put off by hotel prices that ran into hundreds of dollars a night earlier in the year. After lobbying from civil society, the government negotiated a $120 price cap for two-star hotels and announced cheaper accommodation in recent weeks. That included rooms for 400 young people at about $30 to $40 a night, and was designed to help African groups overcome long-standing obstacles to having access to Cop summits, said Omnia El-Omrani, Cop27's youth envoy.

Mr Sunak only announced on Wednesday that he would be travelling to Egypt, having previously said that he was staying in London to focus on the autumn statement with Chancellor Jeremy Hunt.

The change of heart followed intense criticism from environmentalists and from within the Conservative Party, including from Cop26 President Alok Sharma.

UK Prime Minister Rishi Sunak's U-turn on attending Cop27 in Egypt - video

While you're here
CREW
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At Eternity’s Gate

Director: Julian Schnabel

Starring: Willem Dafoe, Oscar Isaacs, Mads Mikkelsen

Three stars

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Indoor cricket in a nutshell

Indoor Cricket World Cup - Sep 16-20, Insportz, Dubai

16 Indoor cricket matches are 16 overs per side

8 There are eight players per team

There have been nine Indoor Cricket World Cups for men. Australia have won every one.

5 Five runs are deducted from the score when a wickets falls

Batsmen bat in pairs, facing four overs per partnership

Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.

Zones

A Front net, behind the striker and wicketkeeper: 0 runs

B Side nets, between the striker and halfway down the pitch: 1 run

Side nets between halfway and the bowlers end: 2 runs

Back net: 4 runs on the bounce, 6 runs on the full

David Haye record

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

The specs

AT4 Ultimate, as tested

Engine: 6.2-litre V8

Power: 420hp

Torque: 623Nm

Transmission: 10-speed automatic

Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)

On sale: Now

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.”

Director: Jon Favreau

Starring: Donald Glover, Seth Rogen, John Oliver

Rating: 2 out of 5 stars

Auron Mein Kahan Dum Tha

Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar

Director: Neeraj Pandey

Rating: 2.5/5

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RESULTS

2pm: Handicap (PA) Dh40,000 (Dirt) 1,000m
Winner: AF Mozhell, Saif Al Balushi (jockey), Khalifa Al Neyadi (trainer)

2.30pm: Maiden (PA) Dh40,000 (D) 2,000m
Winner: Majdi, Szczepan Mazur, Abdallah Al Hammadi.

3pm: Handicap (PA) Dh40,000 (D) 1,700m
Winner: AF Athabeh, Tadhg O’Shea, Ernst Oertel.

3.30pm: Handicap (PA) Dh40,000 (D) 1,700m
Winner: AF Eshaar, Bernardo Pinheiro, Khalifa Al Neyadi

4pm: Gulf Cup presented by Longines Prestige (PA) Dh150,000 (D) 1,700m
Winner: Al Roba’a Al Khali, Al Moatasem Al Balushi, Younis Al Kalbani

4.30pm: Handicap (TB) Dh40,000 (D) 1,200m
Winner: Apolo Kid, Antonio Fresu, Musabah Al Muahiri

Updated: November 03, 2022, 10:59 PM