Klaus Schwab, founder and executive chairman of the World Economic Forum, speaks before a virtual media briefing on Tuesday. Photo: EPA
Klaus Schwab, founder and executive chairman of the World Economic Forum, speaks before a virtual media briefing on Tuesday. Photo: EPA
Klaus Schwab, founder and executive chairman of the World Economic Forum, speaks before a virtual media briefing on Tuesday. Photo: EPA
Klaus Schwab, founder and executive chairman of the World Economic Forum, speaks before a virtual media briefing on Tuesday. Photo: EPA

Davos 2023 to be springboard for Cop28 climate summit in UAE


Mustafa Alrawi
  • English
  • Arabic

The gathering next week in Davos of more than 2,700 business and policy leaders from 130 countries, including 52 heads of state and government, will serve as a springboard for the Cop28 climate summit being held in the UAE later this year, the World Economic Forum said on Tuesday.

The forum is also expected to sign a preliminary agreement with the UAE about the UN climate conference, which will be held at Expo City in Dubai.

“The climate and energy nexus is critical,” said forum president Borge Brende.

“There are more than 30 ministers in this field [expected to be in Davos] preparing [for] the Cop28 in UAE … we're also signing an MoU [memorandum of understanding] between the World Economic Forum and the UAE on preparations for this.

“[US Special Presidential Envoy for Climate] John Kerry will be there laying out the US strategy for climate and financing.”

The agreement with the UAE “will be critical in the sense that it's also underpinning the importance of the new technologies … for having a new breakthrough on how we produce energy and electricity globally”.

“After Cop26 and Cop27, we now need to make sure that developing countries and emerging economies can afford what is necessary when it comes to adaptation and mitigation strategies,” he added.

“So [we will be] working on both those topics [and] also with the incoming [Cop] presidency.”

Gim Huay Neo, the forum's managing director, said the annual meeting would “connect leaders to understand, focus and act on the most critical environment issues facing the world”.

“One of the key conversations at [the] annual meeting will be around the business case for climate adaptation, which highlights how we will need to deal with immediate climate realities while mitigating emissions,” she said.

Key areas of focus include getting to net zero; building a nature-positive economy; regenerating food, water and ocean systems; circular use of resources and addressing waste and pollution.

“And this builds on progress at Cop27 in Sharm el Sheikh, [Cop15] in Montreal very recently and towards Cop28 in UAE,” she said.

Recognition of the Middle East and North Africa's growing role in global affairs will also be in evidence next week, officials said.

“We have record participation from the Middle East and North Africa — we have, in fact, six heads of states and governments [and] very strong delegations … This is also reflecting the importance of the Middle East in the energy transition, in the green transition,” said Mr Brende.

“We also know that Cop27 was in Egypt … and now it's moving to [UAE] … UAE will be hosting the next trade minister meeting MC13 that will take place there [in 2024].

“Also, the Middle East is always important when it comes to investments with the sovereign wealth funds that are investing all over the world and what they set as premises for their investments.”

Held between January 16-20, the forum’s theme this year is “Co-operation in a Fragmented World”.

It returns to its regular snowy January slot for the first time since 2020, after several Covid-19 pandemic-disrupted years.

Those attending the event include Tanzania’s President Samia Suluhu Hassan, Spanish Prime Minister Pedro Sanchez, European Central Bank President Christine Lagarde, Croatian Prime Minister Andrej Plenkovic and Kristalina Georgieva, the International Monetary Fund's managing director.

China is also sending a high-level delegation and Asian leaders including South Korea’s President Yoon Suk Yeol and President of the Philippines Ferdinand Marcos will also attend.

European Commission President Ursula von der Leyen and UN Secretary General Antonio Guterres will also visit Davos.

Greek Prime Minister Kyriakos Mitsotakis, Oxfam's executive director Gabriela Bucher, World Trade Organisation director-general Ngozi Okonjo-Iweala and German Chancellor Olaf Scholz are also set to attend.

In addition to Mr Kerry, the US will be represented by Avril Haines, US director of National Intelligence; Secretary of Labour Martin Walsh; US Trade Representative Katherine Tai; and Samantha Power, administrator of the US Agency for International Development.

Celebrities will also make the trip, including actor Idris Elba and his wife Sabrina Dhowre Elba.

On Monday, the forum announced the couple would receive the 2023 Crystal Award for “their leadership in addressing food security, climate change and environmental conservation”.

The awards ceremony will be held in Davos on the eve of the annual meeting.

World%20Food%20Day%20
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Who was Alfred Nobel?

The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.

  • In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
  • Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
  • Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
TWISTERS

Director: Lee Isaac Chung

Starring: Glen Powell, Daisy Edgar-Jones, Anthony Ramos

Rating: 2.5/5

The%C2%A0specs%20
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SPEC%20SHEET%3A%20NOTHING%20PHONE%20(2a)
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Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20JustClean%3Cbr%3E%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%20with%20offices%20in%20other%20GCC%20countries%3Cbr%3E%3Cbr%3E%3Cstrong%3ELaunch%20year%3A%3C%2Fstrong%3E%202016%3Cbr%3E%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%20160%2B%20with%2021%20nationalities%20in%20eight%20cities%3Cbr%3E%3Cstrong%3E%3Cbr%3ESector%3A%3C%2Fstrong%3E%20online%20laundry%20and%20cleaning%20services%3Cbr%3E%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3E%2430m%20from%20Kuwait-based%20Faith%20Capital%20Holding%20and%20Gulf%20Investment%20Corporation%3C%2Fp%3E%0A
ALRAWABI%20SCHOOL%20FOR%20GIRLS
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Zombieland: Double Tap

Director: Ruben Fleischer

Stars: Woody Harrelson, Jesse Eisenberg, Emma Stone

Four out of five stars 

Results

Stage Two:

1. Mark Cavendish (GBR) QuickStep-AlphaVinyl 04:20:45

2. Jasper Philipsen (BEL) Alpecin-Fenix

3. Pascal Ackermann (GER) UAE Team Emirates

4. Olav Kooij (NED) Jumbo-Visma

5. Arnaud Demare (FRA) Groupama-FDJ

General Classification:

1. Jasper Philipsen (BEL) Alpecin-Fenix 09:03:03

2. Dmitry Strakhov (RUS) Gazprom-Rusvelo 00:00:04

3. Mark Cavendish (GBR) QuickStep-AlphaVinyl 00:00:06

4. Sam Bennett (IRL) Bora-Hansgrohe 00:00:10

5. Pascal Ackermann (GER) UAE Team Emirates 00:00:12

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

Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

UAE currency: the story behind the money in your pockets
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
The%20specs%3A%202024%20Mercedes%20E200
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FROM%20THE%20ASHES
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Where to donate in the UAE

The Emirates Charity Portal

You can donate to several registered charities through a “donation catalogue”. The use of the donation is quite specific, such as buying a fan for a poor family in Niger for Dh130.

The General Authority of Islamic Affairs & Endowments

The site has an e-donation service accepting debit card, credit card or e-Dirham, an electronic payment tool developed by the Ministry of Finance and First Abu Dhabi Bank.

Al Noor Special Needs Centre

You can donate online or order Smiles n’ Stuff products handcrafted by Al Noor students. The centre publishes a wish list of extras needed, starting at Dh500.

Beit Al Khair Society

Beit Al Khair Society has the motto “From – and to – the UAE,” with donations going towards the neediest in the country. Its website has a list of physical donation sites, but people can also contribute money by SMS, bank transfer and through the hotline 800-22554.

Dar Al Ber Society

Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.

Dubai Cares

Dubai Cares provides several options for individuals and companies to donate, including online, through banks, at retail outlets, via phone and by purchasing Dubai Cares branded merchandise. It is currently running a campaign called Bookings 2030, which allows people to help change the future of six underprivileged children and young people.

Emirates Airline Foundation

Those who travel on Emirates have undoubtedly seen the little donation envelopes in the seat pockets. But the foundation also accepts donations online and in the form of Skywards Miles. Donated miles are used to sponsor travel for doctors, surgeons, engineers and other professionals volunteering on humanitarian missions around the world.

Emirates Red Crescent

On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.

Gulf for Good

Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.

Noor Dubai Foundation

Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).

Company Profile

Name: JustClean

Based: Kuwait with offices in other GCC countries

Launch year: 2016

Number of employees: 130

Sector: online laundry service

Funding: $12.9m from Kuwait-based Faith Capital Holding

Updated: January 16, 2023, 4:51 AM