Dubai has announced plans to achieve a 50 per cent reduction in emissions by 2030.
The Dubai Supreme Council of Energy set out the initiative on Friday to coincide with the Cop28 climate change conference.
"Dubai is committed to co-operating with cities around the world keen on sustainability and positive and impactful climate action, to contribute to reducing emissions and achieving the targets of the Paris climate agreement to address the causes of global warming," said Abdulla Al Basti, Secretary General of the Executive Council of Dubai.
"Today's announcement on Dubai doubling the reduction of carbon emissions to 50 per cent by 2030 reflects the emirate's full commitment to a sustainable future locally and globally, especially as this announcement coincides with Expo City Dubai's hosting of Cop28."
The announcement is also in line with efforts to become carbon neutral by 2050, said Ahmed Al Muhairbi, Secretary General of the Dubai Supreme Council of Energy.
"The council assessed carbon emissions for the coming years with the participation of Dubai stakeholders to reach the required measures to limit the increase in emissions and then draw a road map to reach carbon neutrality goals by 2050," he said.
In 2021, the UAE unveiled its Net Zero 2050 Strategic Initiative, a Dh600 billion ($163.37 billion) plan to invest in clean and renewable energy sources over the next three decades.
It was the first Gulf country to commit to achieving net-zero emissions by 2050.
“With the signing of the UAE Governments Net Zero 2050 Charter, we are working hard to realise the country’s goals towards achieving net zero by 2050, and we are committed to moving forward in taking the necessary measures to contribute to global climate action in order to ensure a more sustainable future," Mariam Al Mheiri, Minister of Climate Change and the Environment, said in March.
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Tips for newlyweds to better manage finances
All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.
Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.
Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.
Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.
Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.
Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.
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Three ways to boost your credit score
Marwan Lutfi says the core fundamentals that drive better payment behaviour and can improve your credit score are:
1. Make sure you make your payments on time;
2. Limit the number of products you borrow on: the more loans and credit cards you have, the more it will affect your credit score;
3. Don't max out all your debts: how much you maximise those credit facilities will have an impact. If you have five credit cards and utilise 90 per cent of that credit, it will negatively affect your score.
