Robert Habeck, German Minister for Economy and Climate, tells the Munich Security Conference that climate transformation must be an affirmation of globalisation. EPA
Robert Habeck, German Minister for Economy and Climate, tells the Munich Security Conference that climate transformation must be an affirmation of globalisation. EPA
Robert Habeck, German Minister for Economy and Climate, tells the Munich Security Conference that climate transformation must be an affirmation of globalisation. EPA
Robert Habeck, German Minister for Economy and Climate, tells the Munich Security Conference that climate transformation must be an affirmation of globalisation. EPA

Cop28 raises envoys' hopes for climate solutions under UAE's model approach


Damien McElroy
  • English
  • Arabic

Delegates and visitors to the Munich Security Conference heard officials speak of their hopes that the Cop28 summit in Dubai this November can put the world back on track towards its climate goals.

Robert Habeck, Germany's Minister for Economy and Climate, told a panel that transformation must result in a renewal of globalisation, not a turning away from co-operation. He said a UAE-led foreign development project was an example of what is needed.

“One of the best examples I know is coming from the Middle East,” he said. “The UAE is financing a large solar installation in Jordan to desalinate the seawater off the coast of Israel. The water will benefit Israel and Jordan. I think this in this region is a really fine example of solutions.”

John Kerry, the US climate envoy, said he was confident of a range of solutions emerging from the Cop28.

He said: “I am absolutely convinced that the UAE is going to be able to make a difference precisely because it has been so focused on oil and gas. We look forward to working with the team and we're excited about it.”

Mariam Al Mheiri, Minister of Climate Change and Environment, said a focus on a just transition approach was essential.

“This Cop28 is going to be a Cop summit for everybody. We need the oil and gas sector to be with us, we need to shift the way they are doing business. We need to decarbonise what they are doing and then phase out oil and gas in a just way.”

  • Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, on February 16 opened the green data centre of Data Hub Integrated Solutions (Moro Hub), a subsidiary of Digital Dewa. All photos: Wam
    Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, on February 16 opened the green data centre of Data Hub Integrated Solutions (Moro Hub), a subsidiary of Digital Dewa. All photos: Wam
  • Sheikh Hamdan bin Mohammed opened the green data centre of Data Hub Integrated Solutions (Moro Hub).
    Sheikh Hamdan bin Mohammed opened the green data centre of Data Hub Integrated Solutions (Moro Hub).
  • Sheikh Hamdan bin Mohammed opened the green data centre of Data Hub Integrated Solutions (Moro Hub).
    Sheikh Hamdan bin Mohammed opened the green data centre of Data Hub Integrated Solutions (Moro Hub).
  • Sheikh Hamdan bin Mohammed opened the green data centre of Data Hub Integrated Solutions LLC (Moro Hub)
    Sheikh Hamdan bin Mohammed opened the green data centre of Data Hub Integrated Solutions LLC (Moro Hub)
  • Sheikh Hamdan bin Mohammed opened the green data centre of Data Hub Integrated Solutions (Moro Hub).
    Sheikh Hamdan bin Mohammed opened the green data centre of Data Hub Integrated Solutions (Moro Hub).
  • Sheikh Hamdan bin Mohammed opened the green data centre of Data Hub Integrated Solutions (Moro Hub).
    Sheikh Hamdan bin Mohammed opened the green data centre of Data Hub Integrated Solutions (Moro Hub).
  • Sheikh Hamdan bin Mohammed opened the green data centre of Data Hub Integrated Solutions (Moro Hub).
    Sheikh Hamdan bin Mohammed opened the green data centre of Data Hub Integrated Solutions (Moro Hub).
  • Sheikh Hamdan bin Mohammed opened the green data centre of Data Hub Integrated Solutions (Moro Hub).
    Sheikh Hamdan bin Mohammed opened the green data centre of Data Hub Integrated Solutions (Moro Hub).
  • Sheikh Hamdan bin Mohammed opened the green data centre of Data Hub Integrated Solutions (Moro Hub).
    Sheikh Hamdan bin Mohammed opened the green data centre of Data Hub Integrated Solutions (Moro Hub).

At another panel, Ms Al Mheiri made the point that the Paris process was designed to be just.

“This can be pro-growth and pro-climate,” she said. “This is the pathway we must take.

“We also understand that there are other countries that are not in the situation we are in and they will still need oil and gas. Yes, we are phasing out but again, this is a just energy transition. We always have to think of affordability as well.”

Ms Al Mheiri pointed to the scheduled release of the global stocktake on progress under the Paris Accords as a moment for the world to sit up and take notice of the challenges ahead.

  • Ukrainian President Volodymyr Zelenskyy speaks via video link to the Munich Security Conference. Getty Images
    Ukrainian President Volodymyr Zelenskyy speaks via video link to the Munich Security Conference. Getty Images
  • US Vice President Kamala Harris meets with French President Emmanuel Macron. Reuters
    US Vice President Kamala Harris meets with French President Emmanuel Macron. Reuters
  • US Secretary of State Antony Blinken meets German Foreign Minister Annalena Baerbock. Reuters
    US Secretary of State Antony Blinken meets German Foreign Minister Annalena Baerbock. Reuters
  • Jens Stoltenberg, secretary general of NATO, talks to the media. Getty Images
    Jens Stoltenberg, secretary general of NATO, talks to the media. Getty Images
  • Mr Macron delivers a speech. AFP
    Mr Macron delivers a speech. AFP
  • Germany's Chancellor Olaf Scholz gives a speech. AP
    Germany's Chancellor Olaf Scholz gives a speech. AP
  • Chairman of the Munich Security Conference Christoph Heusgen opens the conference. AFP
    Chairman of the Munich Security Conference Christoph Heusgen opens the conference. AFP
  • Mr Macron shakes hands with the Czech Republic's President-elect Petr Pavel, during a bilateral meeting. AFP
    Mr Macron shakes hands with the Czech Republic's President-elect Petr Pavel, during a bilateral meeting. AFP
  • Annalena Baerbock arrives. AP
    Annalena Baerbock arrives. AP
  • German Defence Minister Boris Pistorius speaks to journalists before the conference. Getty Images
    German Defence Minister Boris Pistorius speaks to journalists before the conference. Getty Images
  • Antony Blinken arrives at the airport. AP
    Antony Blinken arrives at the airport. AP
  • Police dog Basco searches the area outside the Bayerischer Hof hotel, before the start of the conference. Reuters
    Police dog Basco searches the area outside the Bayerischer Hof hotel, before the start of the conference. Reuters
  • US Special Presidential Envoy for Climate John Kerry arrives. AFP
    US Special Presidential Envoy for Climate John Kerry arrives. AFP
  • A police officer uses a mirror to check a car's undercarriage near the Bayerischer Hof hotel. EPA
    A police officer uses a mirror to check a car's undercarriage near the Bayerischer Hof hotel. EPA

“We know the results of the global stocktake are going to be shown at Cop28,” she said. “We know already that we are completely off track.”

It was the aim of the UAE to ensure the preparations for the meeting would be bridge-building for the required solutions.

57%20Seconds
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Rusty%20Cundieff%0D%3Cbr%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EJosh%20Hutcherson%2C%20Morgan%20Freeman%2C%20Greg%20Germann%2C%20Lovie%20Simone%0D%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2%2F5%0D%3Cbr%3E%0D%3Cbr%3E%3C%2Fp%3E%0A
Trump v Khan

2016: Feud begins after Khan criticised Trump’s proposed Muslim travel ban to US

2017: Trump criticises Khan’s ‘no reason to be alarmed’ response to London Bridge terror attacks

2019: Trump calls Khan a “stone cold loser” before first state visit

2019: Trump tweets about “Khan’s Londonistan”, calling him “a national disgrace”

2022:  Khan’s office attributes rise in Islamophobic abuse against the major to hostility stoked during Trump’s presidency

July 2025 During a golfing trip to Scotland, Trump calls Khan “a nasty person”

Sept 2025 Trump blames Khan for London’s “stabbings and the dirt and the filth”.

Dec 2025 Trump suggests migrants got Khan elected, calls him a “horrible, vicious, disgusting mayor”

Volvo ES90 Specs

Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)

Power: 333hp, 449hp, 680hp

Torque: 480Nm, 670Nm, 870Nm

On sale: Later in 2025 or early 2026, depending on region

Price: Exact regional pricing TBA

UAE currency: the story behind the money in your pockets
Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Gulf Under 19s final

Dubai College A 50-12 Dubai College B

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

Dubai Rugby Sevens, December 5 -7

World Sevens Series Pools

A – Fiji, France, Argentina, Japan

B – United States, Australia, Scotland, Ireland

C – New Zealand, Samoa, Canada, Wales

D – South Africa, England, Spain, Kenya

Specs

Engine: 51.5kW electric motor

Range: 400km

Power: 134bhp

Torque: 175Nm

Price: From Dh98,800

Available: Now

HWJN
%3Cp%3EDirector%3A%20Yasir%20Alyasiri%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Baraa%20Alem%2C%20Nour%20Alkhadra%2C%20Alanoud%20Saud%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A%3Cp%3E%3C%2Fp%3E%0A
Updated: February 18, 2023, 7:16 PM