US re-enters Paris Agreement and pledges to 'do more'


James Reinl
  • English
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The US on Friday formally re-entered the Paris Agreement, a global deal to cut carbon emissions and halt temperature rises, almost one month after US President Joe Biden reversed his predecessor Donald Trump’s decision to exit the pact.

US Secretary of State Antony Blinken called the 2015 agreement an “unprecedented framework for global action” and promised the US would “do more” to tackle climate change after a four-year stall under the Trump administration.

Mr Biden informed the UN that the US was rejoining the deal hours after his inauguration on January 20, kick-starting a 30-day re-entry process. Former president Donald Trump exited the pact in 2017, calling climate change an economy-draining “hoax”.

“The Paris Agreement is … both simple and expansive: to help us all avoid catastrophic planetary warming and to build resilience around the world to the impacts from climate change we already see,” Mr Blinken said in a statement.

“Now as momentous as our joining the agreement was in 2016 — and as momentous as our rejoining is today — what we do in the coming weeks, months and years is even more important.”

His comments came amid the latest example of headline-making weather: a winter storm across the southern US that brought freezing winds, snow and ice to areas that seldom see such frigid conditions.

UN Secretary General Antonio Guterres and Mr Biden’s new climate chief John Kerry will on Friday hold a virtual conversation about the threat of climate change to mark America’s formal re-entry into the accord.

Mr Biden has pledged to put the US on track to net-zero emissions by 2050 to match the swift and steep global cuts that climatologists say are needed to avoid the worst impacts of global warming, using curbs on fossil fuels and investments in clean energy.

The administration must now release its new emissions reduction targets, which are known in the deal as Nationally Determined Contributions, before a global leaders summit that Mr Biden will host on April 22.

These moves will not be easy. The Biden administration already faces stiff opposition from climate-sceptical Republicans, labour unions and fossil fuel firms, especially over the revocation of permits for TC Energy’s Keystone XL oil pipeline project.

The US policy switch means that the countries producing two thirds of global carbon emissions are pursuing carbon neutrality by 2050, the UN says. China, the world’s biggest polluter, aims to become carbon neutral by 2060.

Activists complain that progress on global emissions cuts was largely derailed by the four-year Trump administration. Mr Guterres said this week that there had been “no contribution from the US” with Mr Trump in the White House.

Still, the UN head described "fantastic mobilisation of the private sector, of the cities, of some states, of civil society as a whole" that kept the US on track for cutting carbon emissions in spite of Mr Trump.

Under the 2015 Paris Agreement, most world governments have pledged to keep global warming “well below” 2°C above pre-industrial times and to strive to limit temperature rises to 1.5°C.

The planet has so far warmed by 1.2°C and is headed for at least 3°C this century — raising the risk of wildfires, droughts, floods, hurricanes and other extreme weather that will claim lives and ravage economies, the UN says.

British Prime Minister Boris Johnson will on February 23 chair virtual UN Security Council talks on the links between climate change and war. The UK will in November host the review conference of the Paris Agreement in Glasgow, known as Cop26.

A UN report released on Thursday said mankind's "war on nature" was wiping out whole species, polluting the atmosphere, raising temperatures and giving rise to Covid-19 and other so-called zoonotic diseases.

Key findings of Jenkins report
  • Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
  • Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
  • Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
  • Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
What went into the film

25 visual effects (VFX) studios

2,150 VFX shots in a film with 2,500 shots

1,000 VFX artists

3,000 technicians

10 Concept artists, 25 3D designers

New sound technology, named 4D SRL

 

Specs

Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request

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

Classification of skills

A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation. 

A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.

The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000. 

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 

Founders: Ines Mena, Claudia Ribas, Simona Agolini, Nourhan Hassan and Therese Hundt

Date started: January 2017, app launched November 2017

Based: Dubai, UAE

Sector: Private/Retail/Leisure

Number of Employees: 18 employees, including full-time and flexible workers

Funding stage and size: Seed round completed Q4 2019 - $1m raised

Funders: Oman Technology Fund, 500 Startups, Vision Ventures, Seedstars, Mindshift Capital, Delta Partners Ventures, with support from the OQAL Angel Investor Network and UAE Business Angels

The specs

Engine: 2.0-litre 4-cylinder turbo hybrid

Transmission: eight-speed automatic

Power: 390bhp

Torque: 400Nm

Price: Dh340,000 ($92,579

'Brazen'

Director: Monika Mitchell

Starring: Alyssa Milano, Sam Page, Colleen Wheeler

Rating: 3/5

Florence and the Machine – High as Hope
Three stars

How to wear a kandura

Dos

  • Wear the right fabric for the right season and occasion 
  • Always ask for the dress code if you don’t know
  • Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work 
  • Wear 100 per cent cotton under the kandura as most fabrics are polyester

Don’ts 

  • Wear hamdania for work, always wear a ghutra and agal 
  • Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

Black Panther
Dir: Ryan Coogler
Starring: Chadwick Boseman, Michael B Jordan, Lupita Nyong'o
Five stars

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

First Person
Richard Flanagan
Chatto & Windus