The Cop27 Egyptian presidency and the City of London Corporation are to join forces to host a Net Zero Delivery Summit in May.
The summit will seek to ensure the financial services industry can strengthen its commitment to keep global warming to 1.5ºC above pre-industrial levels.
The date is the halfway point between the end of Cop27 in Sharm El Sheikh in November and the Cop28 meeting in 2023 in the UAE.
It will bring together leaders of finance, business, government and other institutions from around the world.
Chris Hayward, policy chairman of the corporation, told The National that the meeting would seek to promote the climate finance focus on Africa and emerging nations that was seen in Egypt, and planning for the UAE meeting. The overall theme is a "just transition".
"We're focusing very much on ensuring that climate action works for everybody in a just and a fair way," Mr Hayward said.
"The idea of the Net Zero Delivery Summit is that it comes exactly halfway between the two Cops.
"What we have to do is to keep the pressure on in terms of action. The prospect of 1.5ºC is still alive but it's on life support.
"We're not moving fast enough and we're not getting the money to where it needs to be fast enough.
"I think our focus in the in the West, in the global north as it were, is how we get those funds out to those countries most in need. Because if we don't do that, then we will fail to tackle net zero by 2050."
One of the achievements of the Cop26 climate meeting in the UK in 2021 was the Glasgow Financial Alliance for Net Zero (Gfanz), which committed firms with $130 trillion under management to backing net-zero goals.
The City of London sees itself as a leader in getting the financial industry into a position to deliver on those promises.
"We must keep Gfanz together," Mr Hayward said. "It's absolutely essential that we act with one voice and one purpose.
"I think it's incumbent upon not just the City of London, but all of us in the financial services sector in the United Kingdom to stand behind those Gfanz commitments and those Gfanz 550 companies.
"We can't afford the [alliance] fraying. It is a dynamic situation. But I think we need to just make sure collectively we keep our messaging on course, not least because we in the City of London regard ourselves as the global capital for green finance.
"Green finance policies are a key tool to driving this whole Cop and climate action agenda."
The summit planners want to prioritise the advantages of technology so that data that could track the changing climate is properly exploited.
"One of the challenges we face at the moment is there is inadequate data, which is consistent across the globe to meet the standards that we need to achieve," Mr Hayward said.
"We have to ensure that there is adequate credible data flow in order to establish global standards.
"Otherwise we'll end up really feeding greenwashing and other methods that frankly are undermining the process.
"We need better data and we need global standards, so that everybody is being measured against the same standards and there are not inconsistencies across the globe."
By unlocking the power of finance, the City hopes to give the world's poorest economies the ability to address the climate crisis.
"The challenge for the emerging markets in Africa and India is a huge need for investment in infrastructure projects," Mr Hayward said.
"What we have in the City of London is the critically important capital flows and we have expertise. We have expertise in things like project management.
"So when you're looking at these huge infrastructure projects in emerging markets, you know, the City of London could provide that expertise as well as finance."
The prospect of Cop28, due to open in Dubai Expo City in November 2023, is regarded by Mr Hayward as an opportunity to unlock the Emirates for a world seeking to adapt to the pressures addressed by the 2015 Paris Accord.
"Certainly from what I I've read, the UAE is really leading the way around climate action," he said.
"There's a commitment, I understand, to have 50 per cent of UAE electricity generated from renewables by 2050. That's an ambitious and a fantastic target.
"The practical steps the UAE is taking are climate action in practice, rather than just in words. So I think the UAE are to be absolutely commended for this, and I think it makes a great country to host the next Cop."
The May summit is modelled on an inaugural meeting in the City's Mansion House headquarters this year that featured speakers including the US special presidential envoy for climate, John Kerry, and the UN special envoy on climate action and finance, Mark Carney.
The Square Mile has its own climate action plans to reduce emissions from its properties down to net zero by 2027. Primarily, the focus is on medium-term energy-efficiency work on buildings.
Carbon emissions have already been cut by more than 30 per cent on 2018 levels.
Energy consumption has been reduced by more than 20 per cent, with transport and buildings representing the two biggest emitters.
There are more than 600 listed buildings in the Square Mile that require some additional investment.
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MATCH INFO
Manchester United 6 (McTominay 2', 3'; Fernandes 20', 70' pen; Lindelof 37'; James 65')
Leeds United 2 (Cooper 41'; Dallas 73')
Man of the match: Scott McTominay (Manchester United)
TV: World Cup Qualifier 2018 matches will be aired on on OSN Sports HD Cricket channel
From exhibitions to the battlefield
In 2016, the Shaded Dome was awarded with the 'De Vernufteling' people's choice award, an annual prize by the Dutch Association of Consulting Engineers and the Royal Netherlands Society of Engineers for the most innovative project by a Dutch engineering firm.
It was assigned by the Dutch Ministry of Defence to modify the Shaded Dome to make it suitable for ballistic protection. Royal HaskoningDHV, one of the companies which designed the dome, is an independent international engineering and project management consultancy, leading the way in sustainable development and innovation.
It is driving positive change through innovation and technology, helping use resources more efficiently.
It aims to minimise the impact on the environment by leading by example in its projects in sustainable development and innovation, to become part of the solution to a more sustainable society now and into the future.
In Full Flight: A Story of Africa and Atonement
John Heminway, Knopff
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
Farage on Muslim Brotherhood
Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister.
"We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know.
“All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.”
It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins.
Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement.
The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.
What is the FNC?
The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning.
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval.
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
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
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
THE BIO
Bio Box
Role Model: Sheikh Zayed, God bless his soul
Favorite book: Zayed Biography of the leader
Favorite quote: To be or not to be, that is the question, from William Shakespeare's Hamlet
Favorite food: seafood
Favorite place to travel: Lebanon
Favorite movie: Braveheart
What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
The Greatest Royal Rumble card as it stands
50-man Royal Rumble
Universal Championship Brock Lesnar (champion) v Roman Reigns in a steel cage match
Intercontinental Championship Seth Rollins (champion) v The Miz v Finn Balor v Samoa Joe
SmackDown Tag Team Championship The Bludgeon Brothers (champions) v The Usos
Casket match The Undertaker v Chris Jericho
John Cena v Triple H
Matches to be announced
WWE World Heavyweight Championship, Raw Tag Team Championship, United States Championship and the Cruiserweight Championship are all due to be defended
MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
Fixtures
Friday Leganes v Alaves, 10.15pm; Valencia v Las Palmas, 12.15am
Saturday Celta Vigo v Real Sociedad, 8.15pm; Girona v Atletico Madrid, 10.15pm; Sevilla v Espanyol, 12.15am
Sunday Athletic Bilbao v Getafe, 8.15am; Barcelona v Real Betis, 10.15pm; Deportivo v Real Madrid, 12.15am
Monday Levante v Villarreal, 10.15pm; Malaga v Eibar, midnight
MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich 1
Kimmich (27')
Real Madrid 2
Marcelo (43'), Asensio (56')
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WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
Manikarnika: The Queen of Jhansi
Director: Kangana Ranaut, Krish Jagarlamudi
Producer: Zee Studios, Kamal Jain
Cast: Kangana Ranaut, Ankita Lokhande, Danny Denzongpa, Atul Kulkarni
Rating: 2.5/5
Strait of Hormuz
Fujairah is a crucial hub for fuel storage and is just outside the Strait of Hormuz, a vital shipping route linking Middle East oil producers to markets in Asia, Europe, North America and beyond.
The strait is 33 km wide at its narrowest point, but the shipping lane is just three km wide in either direction. Almost a fifth of oil consumed across the world passes through the strait.
Iran has repeatedly threatened to close the strait, a move that would risk inviting geopolitical and economic turmoil.
Last month, Iran issued a new warning that it would block the strait, if it was prevented from using the waterway following a US decision to end exemptions from sanctions for major Iranian oil importers.
Yahya Al Ghassani's bio
Date of birth: April 18, 1998
Playing position: Winger
Clubs: 2015-2017 – Al Ahli Dubai; March-June 2018 – Paris FC; August – Al Wahda
Essentials
The flights: You can fly from the UAE to Iceland with one stop in Europe with a variety of airlines. Return flights with Emirates from Dubai to Stockholm, then Icelandair to Reykjavik, cost from Dh4,153 return. The whole trip takes 11 hours. British Airways flies from Abu Dhabi and Dubai to Reykjavik, via London, with return flights taking 12 hours and costing from Dh2,490 return, including taxes.
The activities: A half-day Silfra snorkelling trip costs 14,990 Icelandic kronur (Dh544) with Dive.is. Inside the Volcano also takes half a day and costs 42,000 kronur (Dh1,524). The Jokulsarlon small-boat cruise lasts about an hour and costs 9,800 kronur (Dh356). Into the Glacier costs 19,500 kronur (Dh708). It lasts three to four hours.
The tours: It’s often better to book a tailor-made trip through a specialist operator. UK-based Discover the World offers seven nights, self-driving, across the island from £892 (Dh4,505) per person. This includes three nights’ accommodation at Hotel Husafell near Into the Glacier, two nights at Hotel Ranga and two nights at the Icelandair Hotel Klaustur. It includes car rental, plus an iPad with itinerary and tourist information pre-loaded onto it, while activities can be booked as optional extras. More information inspiredbyiceland.com
The biog
Name: James Mullan
Nationality: Irish
Family: Wife, Pom; and daughters Kate, 18, and Ciara, 13, who attend Jumeirah English Speaking School (JESS)
Favourite book or author: “That’s a really difficult question. I’m a big fan of Donna Tartt, The Secret History. I’d recommend that, go and have a read of that.”
Dream: “It would be to continue to have fun and to work with really interesting people, which I have been very fortunate to do for a lot of my life. I just enjoy working with very smart, fun people.”
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Seemar’s top six for the Dubai World Cup Carnival:
1. Reynaldothewizard
2. North America
3. Raven’s Corner
4. Hawkesbury
5. New Maharajah
6. Secret Ambition
