President Sheikh Mohamed on Thursday set out the UAE's efforts to champion "meaningful climate action" to help protect the planet for future generations.
The UAE leader pledged that the Emirates would continue to work with the international community to advance a sustainable vision for the future.
"On World Environment Day, we reaffirm our steadfast commitment to protecting the environment and advancing sustainable development," Sheikh Mohamed wrote on social media.
"Guided by a shared vision for a healthier, more resilient world, we continue to partner with the international community to drive meaningful climate action and safeguard our planet for generations to come."
Dr Amna Al Dahak, Minister of Climate Change and the Environment, emphasised the role of UAE’s Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, in shaping the nation's values.
"Inspired by the vision of our Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, who recognised the link between a healthy environment and a thriving society, the UAE remains steadfast in its dedication to safeguarding our natural heritage," she said in a statement to mark the annual occasion.
"We envision a future with thriving ecosystems and protected life both on land and in the sea – a legacy we build together as a community."
Editorial: A global plastics pollution treaty is possible
The minister highlighted the country's determination to tackle plastic pollution.
"Each of us, as responsible members of our community, can play a leading role in realising our nation’s vision by joining the mission to eliminate unnecessary plastic from our daily lives," she said.
"Let us become active agents of change, leading a powerful movement towards thriving communities, and a vibrant, resilient environment."
World Environment Day was established by the United Nations in 1972 and was observed for the first time the following year, under the slogan "Only One Earth".
The UAE has taken significant steps to promote a green agenda in recent years, both at home and abroad.
Dubai hosted the Cop28 climate change summit in November 2023, where countries came together to deliver the landmark UAE Consensus.
The deal called for the international community to transition away from fossil fuels to achieve net zero by 2050 and also set targets to greatly increase global renewable energy capacity. This is viewed as a vital part of limiting global temperature increases to 1.5°C above pre-industrial levels.
The UAE has also introduced policies to help address the challenges of climate change and to preserve nature. These include a ban on single-use plastic bags, which began in Abu Dhabi in 2022 and was extended across the country.
In Abu Dhabi alone, the move led to about 360 million plastic bags being taken out of circulation by the end of 2024.
Large-scale projects such as the Barakah Nuclear Energy Plant, which aims to prevent up to 22.4 million carbon emissions each year, and the Mohammed bin Rashid Al Maktoum Solar Park, the world's largest single-site solar park, are at the heart of the environmental push.
Read more: How Abu Dhabi's ban on single-use plastic bags is saving precious turtles
Crops that could be introduced to the UAE
1: Quinoa
2. Bathua
3. Amaranth
4. Pearl and finger millet
5. Sorghum
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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
Essentials
The flights
Whether you trek after mountain gorillas in Rwanda, Uganda or the Congo, the most convenient international airport is in Rwanda’s capital city, Kigali. There are direct flights from Dubai a couple of days a week with RwandAir. Otherwise, an indirect route is available via Nairobi with Kenya Airways. Flydubai flies to Kinshasa in the Democratic Republic of Congo, via Entebbe in Uganda. Expect to pay from US$350 (Dh1,286) return, including taxes.
The tours
Superb ape-watching tours that take in all three gorilla countries mentioned above are run by Natural World Safaris. In September, the company will be operating a unique Ugandan ape safari guided by well-known primatologist Ben Garrod.
In the Democratic Republic of Congo, local operator Kivu Travel can organise pretty much any kind of safari throughout the Virunga National Park and elsewhere in eastern Congo.
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Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
Gully Boy
Director: Zoya Akhtar
Producer: Excel Entertainment & Tiger Baby
Cast: Ranveer Singh, Alia Bhatt, Kalki Koechlin, Siddhant Chaturvedi
Rating: 4/5 stars
UAE currency: the story behind the money in your pockets
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.”
MEFCC information
Tickets range from Dh110 for an advance single-day pass to Dh300 for a weekend pass at the door. VIP tickets have sold out. Visit www.mefcc.com to purchase tickets in advance.
Global state-owned investor ranking by size
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1.
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United States
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2.
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China
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3.
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UAE
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4.
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Japan
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5
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Norway
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6.
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Canada
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7.
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Singapore
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8.
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Australia
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9.
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Saudi Arabia
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10.
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South Korea
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