The UAE’s largest ground-mounted private solar plant at Nestle Middle East’s Al Maha factory in Dubai. The UAE intends to derive 44% of its power requirements from clean energy by 2050.
The UAE’s largest ground-mounted private solar plant at Nestle Middle East’s Al Maha factory in Dubai. The UAE intends to derive 44% of its power requirements from clean energy by 2050.
The UAE’s largest ground-mounted private solar plant at Nestle Middle East’s Al Maha factory in Dubai. The UAE intends to derive 44% of its power requirements from clean energy by 2050.
Whatever our new normal looks like, it will be defined by the actions that we take now, during the more difficult moments of the coronavirus pandemic, which has turned our world upside down. Amid the sea of dark and gloomy clouds that have gathered in the skies of 2020, there are some strong silver linings – unexpected ripples of hope that we cannot afford to let evaporate with the eventual passing of the Covid-19 storm.
Perhaps the most striking silver lining is the sudden burst of environmental health and radiance that Earth is enjoying. With traditional energy consumption plummeting by as much as six per cent across the globe since the start of the year, carbon emissions have fallen at a similar rate. The Himalayas are visible from certain parts of India for the first time in 30 years. There is a sudden profusion of marine life swimming in the waters of Sardinia. And in the UAE, rays have been seen meandering through the Dubai Canal and Dubai Marina.
Mother Nature is breathing again.
But with this momentary resuscitation, we must heed a critical warning from recent history. In the immediate aftermath of the global financial crisis in 2008/09, carbon emissions dropped by 1.4 per cent, according to statistics published by the Global Carbon Project in 2011. But this respite was short-lived. As the economy began to pick back up, industry went full throttle to regain what revenue had been lost. Subsequently, carbon emissions rocketed by up to 5.9 per cent, totally eclipsing any environmental recovery our planet had just experienced.
The rush to return to “business as usual” led to a decade of unprecedented greenhouse gas emissions and the hottest 10 years in human history, and the 2010s will be remembered as the years that sent us hurtling towards a potentially catastrophic 3.2 degrees Celsius of global warming.
Dr Nawal Al Hosany warns the world cannot return to 'business as usual' after it recovers from the pandemic. Victor Besa / The National
We cannot afford to repeat the same mistakes. This time, we must get it right. We cannot revert to the same paradigm that stemmed from an unsustainable economic model which valued unmitigated growth at the expense of all else and focused on a toxic, ecologically disastrous pursuit of short-term rewards. The old attitude of getting the economy back on track at the expense of the planet must fundamentally change.
The solution to this problem was the topic of discussion at the first Renewables Talks session, co-hosted by the International Renewable Energy Agency (Irena) and the UAE Mission to Irena from Abu Dhabi last week. More than 100 members dialled in for the webinar, and they came to a consensus: the world needs to harness renewable energy to energise a sustainable economic recovery.
How we do that is the next important step. As Irena's first Global Renewables Outlook (GRO) report makes clear in its prediction of energy scenarios up to 2050, the worldwide recovery from the Covid-19 disruption can only be led by the global energy transition if we collaborate to integrate renewable energy stimulus packages into national budgets across the planet. As an interconnected international community, Irena is well-placed to influence this imperative call to action.
In this February 6, 1969 file photo, state forestry conservation crews gather up oil-soaked straw on a beach in Santa Barbara, California. More than 50 years after the first Earth Day helped spur activism over pollution, significant improvements are undeniable but monumental challenges remain. AP Photo
Indeed, the GRO report suggests that renewable solutions could add $98 trillion to the global economy in 30 years’ time, promising more jobs, greater economic growth, cleaner living conditions and significantly improved welfare in a sustainable, low-carbon climate that lays the foundations for stable, long-term economic development.
The scenarios outlined in the Energy Transformation 2050 report, published in April 2020, build from the position we have arrived at since Irena’s inception in 2010. In the past decade, the world has invested $3tn in renewables, which has more than doubled installed renewable energy capacity. Renewables today account for around a quarter of global power generation and represent a third of global power capacity. And the costs of solar and wind power have fallen significantly, meaning they are now often the cheapest sources of new energy capacity.
The UAE has invested billions into renewable energy sources. AFP
With this amount of wind in its sails, the global energy transformation cannot simply be blown off course by volatile oil prices or Covid-19 on our path towards the decarbonisation of our societies and economies.
That is not to say that neither of these factors will affect our journey to a greener future. Of course they will. The havoc caused to global supply chains will have a direct bearing on the renewables industry, with parts, materials and supplies for projects being shipped from all over the world. The severity of its impact remains to be seen.
But even in the worst of times, we cannot lose sight of our goals. Seeing through the global energy transition in time to avoid cataclysmic climate change requires intensified international co-operation, a value that lies at the beating heart of Irena and its member states. Our aim is to enable institutions to adopt a variety of ambitious policies that strengthen public resolve and ensure no one is left behind as we build a brighter future for all.
Dr Nawal Al Hosany is the UAE’s permanent representative to Irena
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Understanding of marketing objectives and audience engagement.
Tourism industry knowledge.
Professional ethics.
US households add $601bn of debt in 2019
American households borrowed another $601 billion (Dh2.2bn) in 2019, the largest yearly gain since 2007, just before the global financial crisis, according to February data from the New York Federal Reserve Bank.
Fuelled by rising mortgage debt as homebuyers continued to take advantage of low interest rates, the increase last year brought total household debt to a record high, surpassing the previous peak reached in 2008 just before the market crash, according to the report.
Following the 22nd straight quarter of growth, American household debt swelled to $14.15 trillion by the end of 2019, the New York Fed said in its quarterly report.
In the final three months of the year, new home loans jumped to their highest volume since the fourth quarter of 2005, while credit cards and auto loans also added to the increase.
The bad debt load is taking its toll on some households, and the New York Fed warned that more and more credit card borrowers — particularly young people — were falling behind on their payments.
"Younger borrowers, who are disproportionately likely to have credit cards and student loans as their primary form of debt, struggle more than others with on-time repayment," New York Fed researchers said.
The nine articles of the 50-Year Charter
1. Dubai silk road
2. A geo-economic map for Dubai
3. First virtual commercial city
4. A central education file for every citizen
5. A doctor to every citizen
6. Free economic and creative zones in universities
7. Self-sufficiency in Dubai homes
8. Co-operative companies in various sectors
9: Annual growth in philanthropy
Student Of The Year 2
Director: Punit Malhotra
Stars: Tiger Shroff, Tara Sutaria, Ananya Pandey, Aditya Seal
1.5 stars
Cricket World Cup League Two
Oman, UAE, Namibia
Al Amerat, Muscat
Results
Oman beat UAE by five wickets
UAE beat Namibia by eight runs
Fixtures
Wednesday January 8 –Oman v Namibia
Thursday January 9 – Oman v UAE
Saturday January 11 – UAE v Namibia
Sunday January 12 – Oman v Namibia
What is a Ponzi scheme?
A fraudulent investment operation where the scammer provides fake reports and generates returns for old investors through money paid by new investors, rather than through ligitimate business activities.
Europa League semi-final, second leg
Atletico Madrid (1) v Arsenal (1) Where: Wanda Metropolitano When: Thursday, kick-off 10.45pm Live: On BeIN Sports HD
Liverpool v West Ham United, 4.30pm (UAE)
Southampton v Burnley, 4.30pm
Arsenal v Manchester City, 7pm
UAE SQUAD
Mohammed Naveed (captain), Mohamed Usman (vice captain), Ashfaq Ahmed, Chirag Suri, Shaiman Anwar, Mohammed Boota, Ghulam Shabber, Imran Haider, Tahir Mughal, Amir Hayat, Zahoor Khan, Qadeer Ahmed, Fahad Nawaz, Abdul Shakoor, Sultan Ahmed, CP Rizwan
Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
Torque: 320Nm
Price: From Dh147,000
Available: Now
QUALIFYING RESULTS
1. Max Verstappen, Netherlands, Red Bull Racing Honda, 1 minute, 35.246 seconds.
2. Valtteri Bottas, Finland, Mercedes, 1:35.271.
3. Lewis Hamilton, Great Britain, Mercedes, 1:35.332.
4. Lando Norris, Great Britain, McLaren Renault, 1:35.497.
5. Alexander Albon, Thailand, Red Bull Racing Honda, 1:35.571.
6. Carlos Sainz Jr, Spain, McLaren Renault, 1:35.815.
7. Daniil Kvyat, Russia, Scuderia Toro Rosso Honda, 1:35.963.
8. Lance Stroll, Canada, Racing Point BWT Mercedes, 1:36.046.
9. Charles Leclerc, Monaco, Ferrari, 1:36.065.
10. Pierre Gasly, France, Scuderia Toro Rosso Honda, 1:36.242.
Eliminated after second session
11. Esteban Ocon, France, Renault, 1:36.359.
12. Daniel Ricciardo, Australia, Renault, 1:36.406.
13. Sebastian Vettel, Germany, Ferrari, 1:36.631.
14. Antonio Giovinazzi, Italy, Alfa Romeo Racing Ferrari, 1:38.248.
Eliminated after first session
15. Antonio Giovinazzi, Italy, Alfa Romeo Racing Ferrari, 1:37.075.
16. Kimi Raikkonen, Finland, Alfa Romeo Racing Ferrari, 1:37.555.
17. Kevin Magnussen, Denmark, Haas Ferrari, 1:37.863.
18. George Russell, Great Britain, Williams Mercedes, 1:38.045.
19. Pietro Fittipaldi, Brazil, Haas Ferrari, 1:38.173.
20. Nicholas Latifi, Canada, Williams Mercedes, 1:38.443.
Electric scooters: some rules to remember
Riders must be 14-years-old or over
Wear a protective helmet
Park the electric scooter in designated parking lots (if any)
Do not leave electric scooter in locations that obstruct traffic or pedestrians
Solo riders only, no passengers allowed
Do not drive outside designated lanes
What drives subscription retailing?
Once the domain of newspaper home deliveries, subscription model retailing has combined with e-commerce to permeate myriad products and services.
The concept has grown tremendously around the world and is forecast to thrive further, according to UnivDatos Market Insights’ report on recent and predicted trends in the sector.
The global subscription e-commerce market was valued at $13.2 billion (Dh48.5bn) in 2018. It is forecast to touch $478.2bn in 2025, and include the entertainment, fitness, food, cosmetics, baby care and fashion sectors.
The report says subscription-based services currently constitute “a small trend within e-commerce”. The US hosts almost 70 per cent of recurring plan firms, including leaders Dollar Shave Club, Hello Fresh and Netflix. Walmart and Sephora are among longer established retailers entering the space.
UnivDatos cites younger and affluent urbanites as prime subscription targets, with women currently the largest share of end-users.
That’s expected to remain unchanged until 2025, when women will represent a $246.6bn market share, owing to increasing numbers of start-ups targeting women.
Personal care and beauty occupy the largest chunk of the worldwide subscription e-commerce market, with changing lifestyles, work schedules, customisation and convenience among the chief future drivers.
if you go
The flights
Direct flights from the UAE to the Nepalese capital, Kathmandu, are available with Air Arabia, (www.airarabia.com) Fly Dubai (www.flydubai.com) or Etihad (www.etihad.com) from Dh1,200 return including taxes. The trek described here started from Jomson, but there are many other start and end point variations depending on how you tailor your trek. To get to Jomson from Kathmandu you must first fly to the lake-side resort town of Pokhara with either Buddha Air (www.buddhaair.com) or Yeti Airlines (www.yetiairlines.com). Both charge around US$240 (Dh880) return. From Pokhara there are early morning flights to Jomson with Yeti Airlines or Simrik Airlines (www.simrikairlines.com) for around US$220 (Dh800) return.
The trek
Restricted area permits (US$500 per person) are required for trekking in the Upper Mustang area. The challenging Meso Kanto pass between Tilcho Lake and Jomson should not be attempted by those without a lot of mountain experience and a good support team. An excellent trekking company with good knowledge of Upper Mustang, the Annaurpuna Circuit and Tilcho Lake area and who can help organise a version of the trek described here is the Nepal-UK run Snow Cat Travel (www.snowcattravel.com). Prices vary widely depending on accommodation types and the level of assistance required.
