Global investors view climate change as the biggest threat that can severely impact the environment, the health of the global population and businesses around the world, a study has found.
As investors continue to negotiate with and navigate an “increasingly complex international investment landscape" to invest and build a sustainable future, digital technology has emerged as the greatest opportunity to advance the well-being of humanity, the Megatrends Study, jointly commissioned by Abu Dhabi’s Mubadala Investment Company and Bloomberg Media, said.
Together, digital technology and climate change are the two megatrends that will play the “biggest roles in defining our future”, the study said. More than 1,800 global investors, millennials and Generation Z consumers from the UAE, the UK, the US, China, France and India were surveyed.
About 52 per cent of respondents from France, 50 per cent from the UK, 41 per cent from the UAE and 39 per cent in India “most strongly” agree that climate change is the biggest threat.
In the US, 29 per cent and 27 per cent in China view climate change almost on par with the impact of demographic shifts and inequalities, the other two mega trends identified in the report.
About 93 per cent of those polled in the UAE and 92 per cent in India called for a transition to a low-carbon economy to counter climate change.
On Wednesday, Dr Sultan Al Jaber, Cop28 President-designate, said the world had only a “small window” of opportunity to make a major course correction in the race to limit temperature rises to 1.5°C above pre-industrial levels.
Global policymakers must collectively act now to ensure the energy transition is swift, Dr Al Jaber, who also serves as the UAE Minister of Industry and Advanced Technology, said at the Berlin Energy Transition Dialogue conference.
The UAE is hosting the Cop28 climate summit this year. The global conference is expected to bring together 70,000 participants from 198 countries when it begins on November 30 at Expo City Dubai.
Digital technology is the most likely megatrend to advance the well-being of the world, with 34 per cent of respondents, each in the US and India, 32 per cent in China and 31 per cent in the UAE supporting it.
Businesses were singled out by 95 per cent of those polled in India as the segment that is expected to “help lead the way to the future”, with 91 per cent in the UAE feeling most strongly about it, followed by 85 per cent in the US, 84 per cent each in France and the UK, and 81 per cent in China, according to the study.
“As a responsible investor, Mubadala continues to execute our investment strategy in line with our convictions about how trends are shaping the world,” said Ahmed Al Calily, chief strategy and risk officer at Mubadala.
“We are investing in the energy transition, traditional and digital infrastructure, life sciences and technology to achieve value creation while delivering a positive impact to communities and contributing to a sustainable future.”
The Megatrends Study follows the publication of a report by the UN Economist Network, which focused on five megatrends — climate change; demographic shifts, particularly population ageing; urbanisation; the emergence of digital technology; and inequality.
Respondents to the Mubadala and Bloomberg Media survey in all markets agree that these megatrends are important to achieving a sustainable future both today and in 2030.
However, while most markets feel optimistic about the current state of megatrends, especially digital technology, investors across the board are more optimistic than either millennials or Gen Z.
“For instance, investors (91 per cent) feel more empowered to respond to megatrends through their choices than either Gen Z (77 per cent) or Millennials (73 per cent),” the report said.
Respondents strongly agree that inequality affects the economy, society and the political environment. They also agreed that urbanisation also brings significant economic and social advantages and disadvantages.
However, those polled were mixed on the impact on quality of life of demographic shifts.
While respondents in India and the UAE felt that most strongly at 93 per cent and 91 per cent, respectively, those in France and the UK rated the impact lower at 82 per cent and 79 per cent, respectively.
Mubadala, Abu Dhabi’s sovereign investment arm, is at the heart of the emirate’s efforts to diversify its economy.
In recent months, Mubadala has announced several deals in line with its investment convictions, including its October 2022 acquisition of a 100 per cent interest in Skyborn Renewables.
The deal alongside Global Infrastructure Partners gives access to the largest private offshore wind developer globally with a long track.
In April last year, Mubadala and BlackRock Real Estate took a stake in Tata Power Renewable Energy for $525 million to support India’s energy independence and transition.
Mubadala’s interest in renewable energy spans more than 15 years. Its subsidiary, Masdar, which is active in more than 35 countries across six continents, has interests ranging from the world’s largest single-site solar power plant in the UAE to Indonesia’s first floating solar power plant.
Mubadala’s recent partnership with Adnoc and Abu Dhabi National Energy Company, better known as Taqa, and Masdar at the end of 2022 aims to create a global clean energy powerhouse by propelling Masdar’s renewable power capacity to 100 gigawatts.
Pharaoh's curse
British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
The schedule
December 5 - 23: Shooting competition, Al Dhafra Shooting Club
December 9 - 24: Handicrafts competition, from 4pm until 10pm, Heritage Souq
December 11 - 20: Dates competition, from 4pm
December 12 - 20: Sour milk competition
December 13: Falcon beauty competition
December 14 and 20: Saluki races
December 15: Arabian horse races, from 4pm
December 16 - 19: Falconry competition
December 18: Camel milk competition, from 7.30 - 9.30 am
December 20 and 21: Sheep beauty competition, from 10am
December 22: The best herd of 30 camels
The specs: 2019 Mini Cooper
Price, base: Dh141,740 (three-door) / Dh165,900 (five-door)
Engine: 1.5-litre four-cylinder (Cooper) / 2.0-litre four-cylinder (Cooper S)
Power: 136hp @ 4,500rpm (Cooper) / 192hp @ 5,000rpm (Cooper S)
Torque: 220Nm @ 1,480rpm (Cooper) / 280Nm @ 1,350rpm (Cooper S)
Transmission: Seven-speed automatic
Fuel consumption, combined: 4.8L to 5.4L / 100km
AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street
The seven points are:
Shakhbout bin Sultan Street
Dhafeer Street
Hadbat Al Ghubainah Street (outbound)
Salama bint Butti Street
Al Dhafra Street
Rabdan Street
Umm Yifina Street exit (inbound)
RESULTS
6.30pm UAE 1000 Guineas Trial Conditions (TB) US$100,000 (Dirt) 1,400m
Winner Final Song, Christophe Soumillon (jockey), Saeed bin Suroor (trainer).
7.05pm Handicap (TB) $135,000 (Turf) 1,000m
Winner Almanaara, Dane O’Neill, Doug Watson.
7.40pm Handicap (TB) $175,000 (D) 1,900m
Winner Grand Argentier, Brett Doyle, Doug Watson.
8.15pm Meydan Challenge Listed Handicap (TB) $175,000 (T) 1,400m
Winner Major Partnership, Patrick Cosgrave, Saeed bin Suroor.
8.50pm Dubai Stakes Group 3 (TB) $200,000 (D) 1,200m
Winner Gladiator King, Mickael Barzalona, Satish Seemar.
9.25pm Dubai Racing Club Classic Listed Handicap (TB) $175,000 (T) 2,410m
Winner Universal Order, Richard Mullen, David Simcock.
Moral education needed in a 'rapidly changing world'
Moral education lessons for young people is needed in a rapidly changing world, the head of the programme said.
Alanood Al Kaabi, head of programmes at the Education Affairs Office of the Crown Price Court - Abu Dhabi, said: "The Crown Price Court is fully behind this initiative and have already seen the curriculum succeed in empowering young people and providing them with the necessary tools to succeed in building the future of the nation at all levels.
"Moral education touches on every aspect and subject that children engage in.
"It is not just limited to science or maths but it is involved in all subjects and it is helping children to adapt to integral moral practises.
"The moral education programme has been designed to develop children holistically in a world being rapidly transformed by technology and globalisation."
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
Results
2.15pm: Handicap Dh80,000 1,950m
Winner: Hello, Tadhg O’Shea (jockey), Ali Rashid Al Raihi (trainer).
2.45pm: Handicap Dh90,000 1,800m
Winner: Right Flank, Pat Dobbs, Doug Watson.
3.15pm: Handicap Dh115,000 1,000m
Winner: Leading Spirit, Richard Mullen, Satish Seemar.
3.45pm: Jebel Ali Mile Group 3 Dh575,000 1,600m
Winner: Chiefdom, Royston Ffrench, Salem bin Ghadayer.
4.15pm: Handicap Dh105,000 1,400m
Winner: Ode To Autumn, Patrick Cosgrave, Satish Seemar.
4.45pm: Shadwell Farm Conditions Dh125,000 1,200m
Winner: Last Surprise, James Doyle, Simon Crisford.
5.15pm: Handicap Dh85,000 1,200m
Winner: Daltrey, Sandro Paiva, Ali Rashid Al Raihi.
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
Conflict, drought, famine
Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.
Band Aid
Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.
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