The Supreme Court is hearing a case its conservative majority could use to hobble Biden administration efforts to combat climate change. AP
The Supreme Court is hearing a case its conservative majority could use to hobble Biden administration efforts to combat climate change. AP
The Supreme Court is hearing a case its conservative majority could use to hobble Biden administration efforts to combat climate change. AP
The Supreme Court is hearing a case its conservative majority could use to hobble Biden administration efforts to combat climate change. AP

US Supreme Court hears climate case as UN issues bleak warning


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A divided US Supreme Court heard arguments on Monday in an environmental regulation case with potentially far-reaching implications for President Joe Biden's fight against climate change.

The case concerns the authority of the Environmental Protection Agency (EPA) to regulate greenhouse gas emissions from coal-fired power plants, which produce about 20 per cent of the electricity in the US.

As the Supreme Court was hearing arguments, the UN issued a major report containing dire warnings on climate change.

While the three liberal justices on the nine-member Supreme Court appeared largely to support arguments that the EPA was operating within its brief, several of the conservative justices appeared sceptical.

“This agency is doing greenhouse gas regulation,” said Justice Sonia Sotomayor, one of the liberal members of the court. “This is in, you know, exactly in its wheelhouse.”

Jacob Roth, arguing for The North America Coal Corp, said the EPA is going beyond its remit.

“The agency is asking questions like: should we phase out the coal industry? Should we build more solar farms in this country? Should we restrict how consumers use electricity in order to bring down emissions?

  • Abdullah Abduljabar, Vice President of Al Ghadha Parks in Qassim, central Saudi Arabia, where a huge saxaul tree planting programme is being planned. All photos by Reuters
    Abdullah Abduljabar, Vice President of Al Ghadha Parks in Qassim, central Saudi Arabia, where a huge saxaul tree planting programme is being planned. All photos by Reuters
  • Al Ghadha Parks is the world's largest saxaul botanical garden. For centuries millions of the trees, known by their Arabic name al ghadha, provided firewood, animal feed and respite from the desert heat for the Bedouin forefathers of modern Saudis.
    Al Ghadha Parks is the world's largest saxaul botanical garden. For centuries millions of the trees, known by their Arabic name al ghadha, provided firewood, animal feed and respite from the desert heat for the Bedouin forefathers of modern Saudis.
  • The trees produce seeds only as they become drier. Current conditions have provided the seeds to plant 250,000 drought-resistant saxauls in the region.
    The trees produce seeds only as they become drier. Current conditions have provided the seeds to plant 250,000 drought-resistant saxauls in the region.
  • Saxaul roots bind the desert sands, helping to constrain sandstorms.
    Saxaul roots bind the desert sands, helping to constrain sandstorms.
  • The kingdom aims to plant 10 billion trees in the coming decades as part of an ambitious campaign unveiled by Crown Prince Mohammed bin Salman last year.
    The kingdom aims to plant 10 billion trees in the coming decades as part of an ambitious campaign unveiled by Crown Prince Mohammed bin Salman last year.
  • It is part of a green initiative aimed at reducing carbon emissions, pollution and land degradation.
    It is part of a green initiative aimed at reducing carbon emissions, pollution and land degradation.
  • Abdullah Abduljabar checks soil quality in the saxaul garden.
    Abdullah Abduljabar checks soil quality in the saxaul garden.
  • Majed Alsolaim, chief executive of Al Ghadha Parks, shows the Guinness World Record certificate for largest saxaul botanical garden held by the park.
    Majed Alsolaim, chief executive of Al Ghadha Parks, shows the Guinness World Record certificate for largest saxaul botanical garden held by the park.

“Those are not the types of questions we expect the agency to be answering,” Mr Roth said.

The Supreme Court, by a narrow majority, ruled in 2007 that the EPA has the power to regulate carbon dioxide emissions from power plants under the Clean Air Act of 1970.

In 2015, former president Barack Obama unveiled his Clean Power Plan, which was intended to combat global warming by reducing carbon dioxide emissions from coal and gas-burning plants and shifting energy production to clean sources such as solar and wind power.

The Clean Power Plan was blocked in the Supreme Court in 2016 and repealed by former Republican president Donald Trump, who replaced it with his own industry-friendly Affordable Clean Energy (ACE) rule.

Mr Trump, a climate change sceptic hostile to government regulation of industry, also nominated three justices to the Supreme Court, giving conservatives a 6-3 majority.

The US Court of Appeals for the District of Columbia threw out Mr Trump's ACE rule on the last day of his presidency, setting the stage for the case currently before the Supreme Court: West Virginia v EPA.

West Virginia and several other coal-producing states asked the Supreme Court to intervene and define the powers of the EPA. The case has also been embraced by opponents of strong government regulatory authority.

Solicitor General Elizabeth Prelogar, arguing before the court for the Biden administration, said the justices should wait until the EPA publishes its new rules.

“The DC Circuit's judgment leaves no EPA rule in effect,” Ms Prelogar said. “No federal regulation will occur until EPA completes its upcoming rule making.

“Petitioners aren't harmed by the status quo.

“Instead, what they seek from this court is a decision to constrain EPA authority in the upcoming rule making.”

In its brief to the court, West Virginia accused the EPA of acting like “the country's central energy planning authority".

Justice Samuel Alito, one of the more conservative members of the court, questioned how far the EPA could go in regulating emissions.

“Is there any reason EPA couldn't force the adoption of a system for single-family homes that is similar to what it has done, what it is claiming it can do, with respect to existing power plants?” Mr Alito asked.

Ms Prelogar replied that the EPA “has never listed homes as a source category and couldn't do so because they are far too diverse and differentiated".

UN experts, in the report issued on Monday on the global impacts of climate change, said humanity is perilously close to missing its chance to secure a “liveable” future.

“The cumulative scientific evidence is unequivocal: climate change is a threat to human well-being and planetary health,” the Intergovernmental Panel on Climate Change (IPCC) said.

Any further delay in global action to cut carbon pollution and prepare for impacts already in the pipeline “will miss a brief and rapidly closing window of opportunity to secure a liveable and sustainable future for all”, the 195-nation IPCC warned.

The Supreme Court is expected to issue its decision in West Virginia v EPA before June.

  • Libya's Ashaafean park became the country's first site to be added to Unesco's list of biosphere reserves last month. All photos: AFP
    Libya's Ashaafean park became the country's first site to be added to Unesco's list of biosphere reserves last month. All photos: AFP
  • The park is now under threat due to climate change and human activity but authorities are hoping that the Unesco listing will help to protect its plant and animal life.
    The park is now under threat due to climate change and human activity but authorities are hoping that the Unesco listing will help to protect its plant and animal life.
  • Ashaafean park was first designated as a nature reserve under former strongman Muammar Qaddafi in 1978.
    Ashaafean park was first designated as a nature reserve under former strongman Muammar Qaddafi in 1978.
  • The 83,060-hectare biosphere reserve is home to about 350 plant species and has long been a sanctuary for rare or endangered species.
    The 83,060-hectare biosphere reserve is home to about 350 plant species and has long been a sanctuary for rare or endangered species.
  • The park is in Libya's Nafusa mountain range and includes dry woodland, grassland and desert areas on the edge of the Sahara.
    The park is in Libya's Nafusa mountain range and includes dry woodland, grassland and desert areas on the edge of the Sahara.
  • About 65,000 people live in the wider park area, with most of them making a living from traditional farming methods.
    About 65,000 people live in the wider park area, with most of them making a living from traditional farming methods.
The biog

Age: 59

From: Giza Governorate, Egypt

Family: A daughter, two sons and wife

Favourite tree: Ghaf

Runner up favourite tree: Frankincense 

Favourite place on Sir Bani Yas Island: “I love all of Sir Bani Yas. Every spot of Sir Bani Yas, I love it.”

COMPANY%20PROFILE
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COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Floward%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ERiyadh%2C%20Saudi%20Arabia%0D%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EAbdulaziz%20Al%20Loughani%20and%20Mohamed%20Al%20Arifi%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EE-commerce%0D%3Cbr%3E%3Cstrong%3ETotal%20funding%3A%20%3C%2Fstrong%3EAbout%20%24200%20million%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EAljazira%20Capital%2C%20Rainwater%20Partners%2C%20STV%20and%20Impact46%0D%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%20%3C%2Fstrong%3E1%2C200%3C%2Fp%3E%0A
if you go

The flights
Flydubai offers three daily direct flights to Sarajevo and, from June, a daily flight from Thessaloniki from Dubai. A return flight costs from Dhs1,905 including taxes.
The trip 
The Travel Scientists are the organisers of the Balkan Ride and several other rallies around the world. The 2018 running of this particular adventure will take place from August 3-11, once again starting in Sarajevo and ending a week later in Thessaloniki. If you’re driving your own vehicle, then entry start from €880 (Dhs 3,900) per person including all accommodation along the route. Contact the Travel Scientists if you wish to hire one of their vehicles. 

Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EHakbah%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ENaif%20AbuSaida%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ESaudi%20Arabia%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E22%20%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3E%24200%2C000%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3Epre-Series%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EGlobal%20Ventures%20and%20Aditum%20Investment%20Management%0D%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A
Company%20profile
%3Cp%3E%3Cstrong%3ECompany%3A%20%3C%2Fstrong%3ESplintr%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EMay%202019%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EMohammad%20AlMheiri%20and%20Badr%20AlBadr%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%20and%20Riyadh%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3Epayments%20%2F%20FinTech%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESize%3A%20%3C%2Fstrong%3E10%20employees%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3Eundisclosed%20seven-figure%20sum%20%2F%20pre-seed%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStage%3A%20%3C%2Fstrong%3Eseed%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3Eangel%20investors%3C%2Fp%3E%0A
Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching

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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.”

Who was Alfred Nobel?

The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.

  • In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
  • Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
  • Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
The Buckingham Murders

Starring: Kareena Kapoor Khan, Ash Tandon, Prabhleen Sandhu

Director: Hansal Mehta

Rating: 4 / 5

Results:

6.30pm: Maiden Dh 165,000 1,400m.
Winner: Walking Thunder, Connor Beasley (jockey), Ahmad bin Harmash (trainer).

7.05pm: Handicap (rated 72-87) Dh 165,000 1,600m.
Winner: Syncopation, George Buckell, Doug Watson.

7.40pm: Maiden Dh 165,000 1,400m.
Winner: Big Brown Bear, Pat Dobbs, Doug Watson.

8.15pm: Handicap (75-95) Dh 190,000 1,200m.
Winner: Stunned, Pat Dobbs, Doug Watson.

8.50pm: Handicap (85-105) Dh 210,000 2,000m.
Winner: New Trails, Connor Beasley, Ahmad bin Harmash.

9.25pm: Handicap (75-95) Dh 190,000 1,600m.
Winner: Pillar Of Society, Pat Dobbs, Doug Watson.

Updated: February 28, 2022, 10:58 PM