Sadhguru Jaggi Vasudev, founder of Isha Foundation, speaks during the Global Business Summit in New Delhi, India, on Monday, March 27, 2017. The influential guru launched a month-long campaign to save India's rivers on September 3, 2017. Anindito Mukherjee / Bloomberg
Sadhguru Jaggi Vasudev, founder of Isha Foundation, speaks during the Global Business Summit in New Delhi, India, on Monday, March 27, 2017. The influential guru launched a month-long campaign to save India's rivers on September 3, 2017. Anindito Mukherjee / Bloomberg
Sadhguru Jaggi Vasudev, founder of Isha Foundation, speaks during the Global Business Summit in New Delhi, India, on Monday, March 27, 2017. The influential guru launched a month-long campaign to save India's rivers on September 3, 2017. Anindito Mukherjee / Bloomberg
Sadhguru Jaggi Vasudev, founder of Isha Foundation, speaks during the Global Business Summit in New Delhi, India, on Monday, March 27, 2017. The influential guru launched a month-long campaign to save

Indian guru's drive to save rivers is timely but questionable


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The Mercedes G63 SUV, painted bright green and blue, is a week into a month-long drive across the length of India. Inside sits Jaggi Vasudev, turbaned and bearded, a spiritual guru to millions who is trying to rally Indians around the cause of saving the country’s rivers.

It is a noble aim, for India’s polluted and mismanaged waterways are in dire need of saviours. But the solution Mr Vasudev is proposing is misguided or, at worst, outright wrong, experts say. And both he and the backers of his campaign have themselves been embroiled in breaches of environmental regulations.

Mr Vasudev, who started his Rally for Rivers campaign on September 3, the day he turned 60, heads the Isha Foundation, a non-profit that promotes its own form of yoga as a means to attaining its goal of "cultivating human potential". The foundation has a sprawling campus in the south Indian city of Coimbatore and claims to have seven million volunteers who help run its operations around the world.

Fondly called “Sadhguru” — or “true guru” — Mr Vasudev counts among his followers many of India’s most celebrated actors, politicians, cricketers and journalists. Several of them issued statements of support when he announced his plan to drive 7,000 kilometres, from the southernmost tip of India through 16 states to the Himalayas in the north, to raise awareness for his campaign.

India’s major rivers are rapidly drying up or turning toxic with pollution, Mr Vasudev said in his campaign literature. Around “25% of India is turning into a desert,” one bullet-point reads. Another: “By 2030, we will only have 50% the water we need for our survival.”

“Four decades ago, the rivers in my native village were flowing in full capacity and they were a sight to watch,” said Virender Sehwag, a retired Indian cricket star, as he flagged off the rally week. “I want to see that again and that is the reason I support this cause.”

During his journey, Mr Vasudev is encouraging people to call the campaign’s phone number to show their support. He hopes to cite this support when he presents the Indian government with his suggested policy solution: to plant a kilometre-wide belt of trees on either side of every major Indian river.

“Forest trees can be planted on government land and fruit trees on farm land,” the Isha Foundation’s website proposes. “This will ensure our rivers are fed throughout the year by the moist soil. This will also reduce floods, drought and soil loss, and increase farmers’ incomes.”

On Saturday, as Mr Vasudev's caravan passed through Bengaluru, capital of the south Indian state of Karnataka, it was announced that his foundation and the state government had signed an agreement to plant 250 million trees along riverbanks.

Mr Vasudev commands a massive audience, and his campaign is bound to raise levels of awareness about India’s severely stressed rivers. But the solution he champions ignores how complicated the rejuvenation of water bodies can be, said Veena Srinivasan, who works on hydrology and water resources at the Ashoka Trust for Research in Ecology and the Environment in Bengaluru.

A comprehensive effort to tackle the problem would have to include detailed hydrological studies, cutting down on water pollution, recharging groundwater stocks that are presently overdrawn, and changing how river water is diverted or used for irrigation and dams.

"This is not the first large-scale effort at tree planting," Dr Srinivasan told The National. "My own experience with this is only with eucalyptus, which was actively promoted in the 1980s through social forestry programmes."

Research has shown that trees such as eucalyptus, which are commonly used in afforestation drives, tend to suck up groundwater supplies instead of helping recharge them, she said. Further, while trees can certainly help prevent large-scale erosion of riverbank soil, they do so only in locations that are prone to flash floods.

Regulations already exist to control pollution in rivers; what is really needed is their thorough implementation, said Rakesh Jaiswal, an environmentalist in the city of Kanpur who has been campaigning for decades against pollution in the Ganges.

“Not a single person has been penalised for polluting the river, despite court orders,” Mr Jaiswal said. “There is lack of dedication and honesty at every level.”

The credibility of Mr Vasudev’s campaign — conducted, as several Indian media outlets have pointed out, in a gas-guzzling SUV — is also shaken by the environmental reputation of the Isha Foundation and its backers.

The Tamil Nadu government has acknowledged that several buildings on the foundation’s campus have been built illegally. A Chennai-based environmental NGO has also petitioned the National Green Tribunal to stop the foundation from conducting large cultural festivals that affect or encroach upon adjoining forested land.

One of the sponsors of Rally for Rivers is the Adani group, a conglomerate of companies based in Gujarat. In 2014, an environment ministry committee found that an Adani port project had violated several rules and proposed a penalty of 2 billion rupees (Dh115 million). Last year, however, the government under prime minister Narendra Modi — who is known to be close to Gautam Adani, the group’s chairman — waived the penalty.

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

Company profile

Date started: 2015

Founder: John Tsioris and Ioanna Angelidaki

Based: Dubai

Sector: Online grocery delivery

Staff: 200

Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends

Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching

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.”

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Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

U19 WORLD CUP, WEST INDIES

UAE group fixtures (all in St Kitts)

  • Saturday 15 January: UAE beat Canada by 49 runs 
  • Thursday 20 January: v England 
  • Saturday 22 January: v Bangladesh 

UAE squad:

Alishan Sharafu (captain), Shival Bawa, Jash Giyanani, Sailles
Jaishankar, Nilansh Keswani, Aayan Khan, Punya Mehra, Ali Naseer, Ronak Panoly,
Dhruv Parashar, Vinayak Raghavan, Soorya Sathish, Aryansh Sharma, Adithya
Shetty, Kai Smith