Live updates: Follow the latest news on Cop28
The man who helped to strike the 2015 Paris Agreement said that the deal did spur action on climate change, although the world has fallen short of meeting its goals.
But former foreign minister of France Laurent Fabius, who chaired Cop21, where the agreement was finalised, called for “urgent” action to get the world back on target.
Speaking at Cop28 in Dubai, he said that the summit could be a global success if the conference's initial wins, particularly on the issue of loss and damage, were followed up by progress in other areas.
“Paris is a landmark, it is a framework and all the people that I've seen today say that, 'We're all children of the Paris Agreement,'” he said.
Mr Fabius said that before Paris, average global temperatures were set to rise by about 4°C above pre-industrial levels, but now the likelihood was of somewhere between 2.8°C and 3°C.
He said that currently “all the figures are not good” and that scientists indicated that the world was “off track” to meet its climate targets.
“We have to be 1.5 [°C], which means we must act, not only largely, but urgently,” he said.
“Not in 20 years. Right now. I'm sure that having discussed this with [Cop28 President Dr] Sultan Al Jaber, he knows that.”
Mr Fabius said that in terms of action to limit climate change, the world had to be “very clear about what's possible and not to delay it”.
“Companies, governments and ordinary people have to know they have progressed to replace fossil fuels by renewables,” he said.
“We have to insist on that. It will be part and parcel of the success of this Cop.”
Mr Fabius, who is the president of France's Constitutional Council, said that the start of Cop28 “has been good”.
He highlighted the action on the loss and damage fund that was set up at Cop27 in Sharm El Sheikh in Egypt last year to ensure that wealthier nations helped poorer countries to cope with the harm caused by climate change.
Pledges exceeding $700 million have been announced for the fund during Cop28, with donors including Germany and the UAE both contributing $100 million each.
However, referring to issues that remain on the table at Cop28, Mr Fabius said that there remained “two or three big ones” to forge an agreement on.
“We have the question of fossil fuels; we have the question of adaptation; and we have more generally the question of finance. We need public and private finance,” he said.
A key point of interest is on what the final text from Cop28 will say with respect to fossil fuels, in particular whether it will include a commitment to phasing them out rather than phasing them down.
On climate finance, campaigners have said that developed nations have fallen short of delivering $100 billion each year to assist developing nations to limit or mitigate their emissions and to adapt to climate change that was promised at Cop15 in Copenhagen in 2015.
There have been concerns expressed that much of the finance that has materialised has been in the form of loans rather than grants, which climate campaigners said could risk pitching poorer countries deeper into debt.
“I hope they will do their best; I'm sure they will do their best,” Mr Fabius said of the Cop28 negotiations.
“We have to deal with it because it's so important, not only for the success of this Cop but for the climate problem.
“The initial decisions, which have been good, could be pursued by a more general approach, particularly on the problems raised and it would make it a global success.”
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
PREMIER LEAGUE FIXTURES
Saturday (UAE kick-off times)
Watford v Leicester City (3.30pm)
Brighton v Arsenal (6pm)
West Ham v Wolves (8.30pm)
Bournemouth v Crystal Palace (10.45pm)
Sunday
Newcastle United v Sheffield United (5pm)
Aston Villa v Chelsea (7.15pm)
Everton v Liverpool (10pm)
Monday
Manchester City v Burnley (11pm)
Gulf Men's League final
Dubai Hurricanes 24-12 Abu Dhabi Harlequins
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Know your Camel lingo
The bairaq is a competition for the best herd of 50 camels, named for the banner its winner takes home
Namoos - a word of congratulations reserved for falconry competitions, camel races and camel pageants. It best translates as 'the pride of victory' - and for competitors, it is priceless
Asayel camels - sleek, short-haired hound-like racers
Majahim - chocolate-brown camels that can grow to weigh two tonnes. They were only valued for milk until camel pageantry took off in the 1990s
Millions Street - the thoroughfare where camels are led and where white 4x4s throng throughout the festival
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Jetour T1 specs
Engine: 2-litre turbocharged
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Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
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.
TRAP
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Director: M Night Shyamalan
Rating: 3/5
Skoda Superb Specs
Engine: 2-litre TSI petrol
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The Perfect Couple
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Mohammed bin Zayed Majlis
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
GULF MEN'S LEAGUE
Pool A Dubai Hurricanes, Bahrain, Dubai Exiles, Dubai Tigers 2
Pool B Abu Dhabi Harlequins, Jebel Ali Dragons, Dubai Knights Eagles, Dubai Tigers
Opening fixtures
Thursday, December 5
6.40pm, Pitch 8, Abu Dhabi Harlequins v Dubai Knights Eagles
7pm, Pitch 2, Jebel Ali Dragons v Dubai Tigers
7pm, Pitch 4, Dubai Hurricanes v Dubai Exiles
7pm, Pitch 5, Bahrain v Dubai Eagles 2
Recent winners
2018 Dubai Hurricanes
2017 Dubai Exiles
2016 Abu Dhabi Harlequins
2015 Abu Dhabi Harlequins
2014 Abu Dhabi Harlequins
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
In numbers
Number of Chinese tourists coming to UAE in 2017 was... 1.3m
Alibaba’s new ‘Tech Town’ in Dubai is worth... $600m
China’s investment in the MIddle East in 2016 was... $29.5bn
The world’s most valuable start-up in 2018, TikTok, is valued at... $75bn
Boost to the UAE economy of 5G connectivity will be... $269bn
