International trade will drive Britain’s green transition with foreign investment into the UK key to helping the country “level up” jobs and develop new technologies, trade minister Anne-Marie Trevelyan said on Wednesday.
While international trade is not the main focus of the discussions at next week’s Cop26 environmental summit in Glasgow, Ms Trevelyan said the Department of International Trade is helping to build Britain’s green industrial base and create new innovations that can be exported around the world.
Her comments came as Britain's Queen Elizabeth II pulled out of hosting a major reception for world leaders at the climate change event, amid concerns about her health.
“DIT Is helping to speed the green transition by using our independent trade policy to make green trade freer — liberalising trade and environmental goods and services — and fairer, by making use of our trade levers to tackle those environmentally harmful market distortions,” Ms Trevelyan said, at an international trade committee meeting at the House of Commons.
Britain secured almost £10 billion ($13.8bn) in fresh foreign capital for its green economy ahead of the Global Investment Summit (GIS) last week.
Sizeable investments included a £6bn commitment from electric utility company Iberdrola, as it plans to invest through Scottish Power in East Anglia Hub offshore wind farms, creating 7,000 jobs.
The investment was one of 18 new trade and investment deals supporting green growth and creating 18,000 jobs at London's GIS.
The capital boost came in addition to the £10bn secured through the Partnership for the Future agreement with the UAE, which will see funds invested in Britain’s technology, infrastructure and energy transition, as well as joint pledges on climate action.
Under the UAE-UK Sovereign Investment Partnership, made with the UK Office for Investment, Mubadala Investment Company committed £9bn for the three sectors, in addition to Mubadala’s £800 million investment and the British government’s £200m for the UK life sciences sector, when the partnership was established in March.
Ms Trevelyan said Britain’s climate change ambitions will be delivered in large part through private sector solutions, “which will create considerable new trade and investment opportunities within the global green economy, which UK companies will be well placed to leverage”.
She pointed to “ground-breaking” new trade deals with Japan, Australia and New Zealand, in which clean growth and the transition to a low carbon economy were key.
“DIT puts clean growth at the core of our central functions; trade policy, export promotion and attracting foreign direct investment. So these functions can play an important role in advancing the net-zero agenda,” she said.
Ms Trevelyan said Britain aimed to lead by example, to help developing countries and those unsure of how to get started on the climate change transition.
Earlier this week, UN Secretary General Antonio Guterres said all major economies must do the “maximum” they can to avert the climate crisis.
Mr Guterres said a new report from the UN Environment Programme, which showed the latest plans and pledges by countries to curb climate emissions by 2030 put the world on track for a “catastrophic” 2.7°C of warming, was a “thundering wake-up call”.
Ms Trevelyan said next week’s Cop26 event will move the conversation on from the Paris Agreement of 2016 to limit the increase in global temperature to 1.5°C.
“If the Paris Cop was the why, and everyone signed up to why we've got to do this, Glasgow is about how. So that's the gritty, practical, what have you actually got to do,” she said.
“You've made a commitment, but how are you going to do that? I have to buy different vehicles, I have to encourage my workforce to walk to work, I have to think about my supply chain issues, which is hard. But there is a real enthusiasm, and we've been leading in supporting and giving tools to help businesses think about that.”
UK Prime Minister Boris Johnson has been accused of undermining the UK's Cop presidency by “saying one thing and doing another”.
At Prime Minister’s Questions on Wednesday, the opposition’s energy spokesman Ed Miliband criticised a lack of commitment to the climate in trade deals, and “telling others to abandon fossil fuels” while not doing so as a government.
On the Cop26 summit, Mr Johnson highlighted his talks with world leaders ahead of the summit, adding: “It’s still too early to say whether it will succeed. It’s in the balance.”
Mr Miliband countered: “The thing the prime minister has underestimated throughout these last two years is Cop26 is not a glorified photo opportunity — it’s a fragile, complex negotiation.
“The problem is the prime minister’s 'boosterism' won’t cut carbon emissions in half; photo opportunities won’t cut carbon emissions in half.
“Can I just say to the prime minister: in these final days before Cop26 we need more than warm words.
“Above all, Glasgow has got to be a summit of climate delivery, not climate delay.”
Separately, Scotland’s First Minister Nicola Sturgeon unveiled almost £500 million of further funding to help in the fight against Covid-19 — as she warned that the Cop26 summit “inevitably” poses a risk of increased transmission of the virus.
With delegates from across the world now starting to arrive in Scotland ahead of the UN climate summit, Ms Sturgeon said the coronavirus situation remained “fragile”.
She stressed mitigations were being put in place around the summit — but that no new restrictions across Scotland were currently necessary.
Ms Sturgeon said hosting the global summit in Glasgow “would always have been a significant challenge”, but the pandemic made it “even more challenging”.
If you go:
The flights: Etihad, Emirates, British Airways and Virgin all fly from the UAE to London from Dh2,700 return, including taxes
The tours: The Tour for Muggles usually runs several times a day, lasts about two-and-a-half hours and costs £14 (Dh67)
Harry Potter and the Cursed Child is on now at the Palace Theatre. Tickets need booking significantly in advance
Entrance to the Harry Potter exhibition at the House of MinaLima is free
The hotel: The grand, 1909-built Strand Palace Hotel is in a handy location near the Theatre District and several of the key Harry Potter filming and inspiration sites. The family rooms are spacious, with sofa beds that can accommodate children, and wooden shutters that keep out the light at night. Rooms cost from £170 (Dh808).
More on Quran memorisation:
Simran
Director Hansal Mehta
Stars: Kangana Ranaut, Soham Shah, Esha Tiwari Pandey
Three stars
Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
- Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
- National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
- In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
- Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
RACE SCHEDULE
All times UAE ( 4 GMT)
Friday, September 29
First practice: 7am - 8.30am
Second practice: 11am - 12.30pm
Saturday, September 30
Qualifying: 1pm - 2pm
Sunday, October 1
Race: 11am - 1pm
Tips for entertaining with ease
· Set the table the night before. It’s a small job but it will make you feel more organised once done.
· As the host, your mood sets the tone. If people arrive to find you red-faced and harried, they’re not going to relax until you do. Take a deep breath and try to exude calm energy.
· Guests tend to turn up thirsty. Fill a big jug with iced water and lemon or lime slices and encourage people to help themselves.
· Have some background music on to help create a bit of ambience and fill any initial lulls in conversations.
· The meal certainly doesn’t need to be ready the moment your guests step through the door, but if there’s a nibble or two that can be passed around it will ward off hunger pangs and buy you a bit more time in the kitchen.
· You absolutely don’t have to make every element of the brunch from scratch. Take inspiration from our ideas for ready-made extras and by all means pick up a store-bought dessert.
Notable Yas events in 2017/18
October 13-14 KartZone (complimentary trials)
December 14-16 The Gulf 12 Hours Endurance race
March 5 Yas Marina Circuit Karting Enduro event
March 8-9 UAE Rotax Max Challenge
The biog
Name: Salem Alkarbi
Age: 32
Favourite Al Wasl player: Alexandre Oliveira
First started supporting Al Wasl: 7
Biggest rival: Al Nasr
Ordinary Virtues: Moral Order in a Divided World by Michael Ignatieff
Harvard University Press
SPECS
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%202-litre%204-cylinder%20turbo%20and%203.6-litre%20V6%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESeven-speed%20automatic%0D%3Cbr%3E%3Cstrong%3EPower%3A%3C%2Fstrong%3E%20235hp%20and%20310hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E258Nm%20and%20271Nm%0D%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh185%2C100%0D%3Cbr%3E%3C%2Fp%3E%0A
How Beautiful this world is!
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants
Monster Hunter: World
Capcom
PlayStation 4, Xbox One
The biog
From: Upper Egypt
Age: 78
Family: a daughter in Egypt; a son in Dubai and his wife, Nabila
Favourite Abu Dhabi activity: walking near to Emirates Palace
Favourite building in Abu Dhabi: Emirates Palace
RESULTS
6.30pm: Handicap (rated 100 ) US$175,000 1,200m
Winner: Baccarat, William Buick (jockey), Charlie Appleby (trainer)
7.05pm: Handicap (78-94) $60,000 1,800m
Winner: Baroot, Christophe Soumillon, Mike de Kock
7.40pm: Firebreak Stakes Group 3 $200,000 1,600m
Winner: Heavy Metal, Mickael Barzalona, Salem bin Ghadayer
8.15pm: Handicap (95-108) $125,000 1,200m
Winner: Yalta, Mickael Barzalona, Salem bin Ghadayer
8.50pm: Balanchine Group 2 $200,000 1,800m
Winner: Promising Run, Pat Cosgrave, Saeed bin Suroor
9.25pm: Handicap (95-105) $125,000 1,800m
Winner: Blair House, James Doyle, Charlie Appleby
10pm: Handicap (95-105) $125,000 1,400m
Winner: Oh This Is Us, Tom Marquand, Richard Hannon
Result:
1. Cecilie Hatteland (NOR) atop Alex - 31.46 seconds
2. Anna Gorbacheva (RUS) atop Curt 13 - 31.82 seconds
3. Georgia Tame (GBR) atop Cash Up - 32.81 seconds
4. Sheikha Latifa bint Ahmed Al Maktoum (UAE) atop Peanuts de Beaufour - 35.85 seconds
5. Miriam Schneider (GER) atop Benur du Romet - 37.53 seconds
6. Annika Sande (NOR) atop For Cash 2 - 31.42 seconds (4 penalties)
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Review: Tomb Raider
Dir: Roar Uthaug
Starring: Alicia Vikander, Dominic West, Daniel Wu, Walter Goggins
two stars
Profile Box
Company/date started: 2015
Founder/CEO: Mohammed Toraif
Based: Manama, Bahrain
Sector: Sales, Technology, Conservation
Size: (employees/revenue) 4/ 5,000 downloads
Stage: 1 ($100,000)
Investors: Two first-round investors including, 500 Startups, Fawaz Al Gosaibi Holding (Saudi Arabia)
Company profile
Date started: January, 2014
Founders: Mike Dawson, Varuna Singh, and Benita Rowe
Based: Dubai
Sector: Education technology
Size: Five employees
Investment: $100,000 from the ExpoLive Innovation Grant programme in 2018 and an initial $30,000 pre-seed investment from the Turn8 Accelerator in 2014. Most of the projects are government funded.
Partners/incubators: Turn8 Accelerator; In5 Innovation Centre; Expo Live Innovation Impact Grant Programme; Dubai Future Accelerators; FHI 360; VSO and Consult and Coach for a Cause (C3)
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
if you go
The flights
Flydubai flies to Podgorica or nearby Tivat via Sarajevo from Dh2,155 return including taxes. Turkish Airlines flies from Abu Dhabi and Dubai to Podgorica via Istanbul; alternatively, fly with Flydubai from Dubai to Belgrade and take a short flight with Montenegro Air to Podgorica. Etihad flies from Abu Dhabi to Podgorica via Belgrade. Flights cost from about Dh3,000 return including taxes. There are buses from Podgorica to Plav.
The tour
While you can apply for a permit for the route yourself, it’s best to travel with an agency that will arrange it for you. These include Zbulo in Albania (www.zbulo.org) or Zalaz in Montenegro (www.zalaz.me).
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Arctic Monkeys
Tranquillity Base Hotel Casino (Domino)
Last 10 NBA champions
2017: Golden State bt Cleveland 4-1
2016: Cleveland bt Golden State 4-3
2015: Golden State bt Cleveland 4-2
2014: San Antonio bt Miami 4-1
2013: Miami bt San Antonio 4-3
2012: Miami bt Oklahoma City 4-1
2011: Dallas bt Miami 4-2
2010: Los Angeles Lakers bt Boston 4-3
2009: Los Angeles Lakers bt Orlando 4-1
2008: Boston bt Los Angeles Lakers 4-2
