UAE figures took on leading roles at the Summit for a New Global Financing Pact in Paris this week, where they engaged in discussions with international leaders on climate finance reform.
During the summit, Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Cop28 President-designate, met climate leaders including French President Emmanuel Macron, Brazilian President Luiz Inacio Lula da Silva, Prime Minister of Barbados Mia Motley and UN Secretary General Antonio Guterres to address climate finance imbalances and discuss potential solutions.
The summit, convened by Mr Macron and Ms Motley, aims to foster global financial reform with a particular focus on mobilising more resources towards climate action and supporting vulnerable communities.
Dr Al Jaber stressed the need for broader participation across the financial community to meet the pressing challenge of climate change.
The Cop28 President-designate pointed out that clean energy investment in low-income countries constitutes less than 2 per cent of the global sector investment, significantly short of the baseline requirement of $120 billion a year.
“Changing that equation requires trillions in private investment, not just billions in multilateral loans,” he said.
He also emphasised the importance of developed nations meeting their commitments to provide finance for developing countries and called climate finance an economic opportunity, not a burden.
Dr Al Jaber led talks on private capital mobilisation at a roundtable discussion hosted by prominent financial and economic leaders including Ajay Banga, President of the World Bank, and Mark Carney, UN special envoy on climate action and finance.
He further advocated the role of private capital in climate finance and the importance of making finance more accessible and cheaper, especially for countries in the Global South.
Dr Al Jaber also stressed the importance of mechanisms that reduce the perceived risk of investing in emerging and developing economies.
A separate roundtable session focused on Voluntary Carbon Markets, with Dr Al Jaber emphasising their potential role in financing decarbonisation efforts. The session highlighted the need for governments, organisations and civil society to work collaboratively to establish regulations and standards for these markets.
In parallel to the financial discussions, the UAE's Razan Al Mubarak, UN Climate Change High-Level Champion for Cop28, took part in a major announcement made at the Elysee Palace.
A coalition committed to protecting and funding natural capital worldwide unveiled significant commitments, aiming to follow the Kunming-Montreal agreement and protect 30 per cent of lands and seas by 2030, while developing new economic models rewarding natural capital.
They intend to establish country packages for forests, nature and climate based on mutual commitments and scientific data.
The coalition also plans to fast-track negotiations using funds from partners such as the Wildlife Conservation Society and anticipates the funding of large-scale projects with pledged investments from sources including the Bezos Earth Fund.
Private sector investment in carbon and biodiversity reserves is another key focus, with an international task force launched to define a suitable framework.
This coalition seeks to work closely with indigenous and local communities in these efforts, respecting their knowledge, plans and leadership in forest protection and use.
Both Dr Al Jaber and Ms Al Mubarak had fruitful private meetings with international leaders and concluded their participation in the summit with a clear vision for progress.
“Climate change sees no division between North and South … If we act in true unity, we can apply pace and scope to deliver action and hope,” Dr Al Jaber said.
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Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
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Oscars in the UAE
The 90th Academy Awards will be aired in the UAE from 3.30am on Monday, March 5 on OSN, with the ceremony starting at 5am
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
How Sputnik V works
Killing of Qassem Suleimani
Three tips from La Perle's performers
1 The kind of water athletes drink is important. Gwilym Hooson, a 28-year-old British performer who is currently recovering from knee surgery, found that out when the company was still in Studio City, training for 12 hours a day. “The physio team was like: ‘Why is everyone getting cramps?’ And then they realised we had to add salt and sugar to the water,” he says.
2 A little chocolate is a good thing. “It’s emergency energy,” says Craig Paul Smith, La Perle’s head coach and former Cirque du Soleil performer, gesturing to an almost-empty open box of mini chocolate bars on his desk backstage.
3 Take chances, says Young, who has worked all over the world, including most recently at Dragone’s show in China. “Every time we go out of our comfort zone, we learn a lot about ourselves,” she says.
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
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Who has lived at The Bishops Avenue?
- George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
- Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
- Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
- Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills.
Hunting park to luxury living
- Land was originally the Bishop of London's hunting park, hence the name
- The road was laid out in the mid 19th Century, meandering through woodland and farmland
- Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds
'THE WORST THING YOU CAN EAT'
Trans fat is typically found in fried and baked goods, but you may be consuming more than you think.
Powdered coffee creamer, microwave popcorn and virtually anything processed with a crust is likely to contain it, as this guide from Mayo Clinic outlines:
Baked goods - Most cakes, cookies, pie crusts and crackers contain shortening, which is usually made from partially hydrogenated vegetable oil. Ready-made frosting is another source of trans fat.
Snacks - Potato, corn and tortilla chips often contain trans fat. And while popcorn can be a healthy snack, many types of packaged or microwave popcorn use trans fat to help cook or flavour the popcorn.
Fried food - Foods that require deep frying — french fries, doughnuts and fried chicken — can contain trans fat from the oil used in the cooking process.
Refrigerator dough - Products such as canned biscuits and cinnamon rolls often contain trans fat, as do frozen pizza crusts.
Creamer and margarine - Nondairy coffee creamer and stick margarines also may contain partially hydrogenated vegetable oils.
