Investors in the UAE don’t just want to build a big enough pot of money to retire in comfort, they increasingly want to do it ethically as well.
A series of new studies suggest the local appetite for sustainable investing is among the healthiest in the world, far stronger than in the United States or United Kingdom.
Ethical investing, also known as socially responsible or sustainable investing, aims to build a better world, as well as create wealth.
Fund managers do this either by shunning companies in industries they consider damaging, such as energy, weapons, alcohol, gambling, and tobacco, or by actively investing in companies that make a positive impact, for example, in wind and solar energy.
Sceptics argue that there is a price to pay for this in the shape of inferior investment returns, but investors in the UAE reject the idea that they are making sacrifices by taking ethical criteria into account when deciding which stocks, mutual funds or exchange-traded funds (ETFs) to buy.
Some believe ethical investments will outperform, making money and cleaning up the planet at the same time.
Is it possible to do both?
Sustainable returns
The latest UBS Investor Watch study of high net worth investors found that 93 per cent of respondents in the UAE believe they are not giving up performance by choosing a sustainable investment, against a global average of 82 per cent.
In fact, two thirds of investors in the Emirates said they expected sustainable investments to outperform traditional rivals, against 50 per cent globally. Three quarters expect sustainable investing to be the norm within a decade, although barriers remain, with many saying that sustainable options are not firmly established and may also charge higher fees.
Impressively, more than half of UAE investors have adopted sustainable investing strategies, against just 12 per cent in the US and 20 per cent in the UK. Niels Zilkens, head of wealth management for Arabian Gulf and Non-resident Indians at UBS, says UAE investors are ahead of their peers in Europe and Asia. "They do not believe they are sacrificing returns, rather they feel that the steps many are now taking will become normal practice in the future."
Going green
The positive UAE attitude towards sustainable investing is echoed in a separate report by fund manager Schroders.
Its Global Investor Study 2018 surveyed more than 22,000 investors from 30 countries, and found that investors in the UAE, along with Europe, were least worried that investing sustainably would hit their returns, with just 23 per cent expressing concerns.
They are also backing words with action, as 86 per cent say they have increased allocations to sustainable investments over the past five years, against 76 per cent globally.
Crucially, investors who consider themselves to have greater investment knowledge are more likely to invest sustainably. Some 72 per cent of UAE residents say that a lack of information, advice and understanding is preventing them from investing sustainably, against 57 per cent globally.
Jessica Ground, global head of stewardship at Schroders, welcomed the results but called for barriers to ethical investing to be removed, to improve "availability, transparency and advice around these funds". Research from HSBC that shows that more than half of investors in the GCC have an Environmental, Social and Governance strategy.
__________
Read more:
The quest to make investing more socially responsible
Is it wise to invest in renewable and green energy?
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Ethical growth
This is the year that ethical and sustainable investing finally went mainstream, after decades on the fringes.
The first ethical fund aimed at private investors, Pax World, was launched in the US in 1971, with Friends Provident Stewardship launching in the UK in 1984.
Now called Pax Balanced and bought by Impax Asset Management Group earlier this year, it has $1.46 billion of assets under management, while Impax manages assets totalling $13.4bn.
The Stewardship fund is now called Aviva Stewardship but remains a relative minnow managing just £200 million (Dh960m). However, socially responsible investing generally has gone from strength to strength, with one dollar in every five invested under ethical strategies in 2016, totalling $8.7 trillion, according to the SIF Foundation, the Forum for Sustainable and Responsible Investing based in Washington. In the UK, sales of ethical funds to private investors topped £1bn for the first time last year.
There are two types of ethical fund, sometimes described as dark and light. Darker green funds have stricter criteria and may limit themselves to companies that have a positive impact on society, such as alternative energy, while turning their noses up at oil, arms, tobacco and so on. A lighter green fund might invest in, say, a fossil fuel company that was “best in class”, for example an oil company working to boost renewables or reduce its ecological footprint.
Camilla Ritchie, lead manager on the 7IM Sustainable Balance Fund, says funds come in every shade of green. “You need to check that the fund manager’s rules match your personal ethical priorities.”
Moral money
As interest grows, advisers risk losing clients if they fail to acknowledge their ESG preferences, says Jonathan Yousafzai of fund manager Thesis Asset Management. “ESG funds have soared in popularity as investors have woken up to the idea that they can invest in responsible companies, without having to compromise on performance.”
The younger generation is particularly keen and advisers and fund managers need to catch up, or risk losing clients.
Steve Cronin, founder of WISE, or Wealth, Investment & Saving for Expats, an independent community for financial education and support in the UAE, says companies that meet high ethical standards may actually have a competitive advantage and as shareholder and fund manager pressure grows, they should increasingly become the norm. “It is encouraging to see how many people are keen on sustainable investing, though a question remains as to what proportion of their portfolio is being invested sustainably.”
Mr Cronin says investors need a wider choice of cost-efficient funds and asset managers are now rushing to fill this void, but he warns investors to be alert to higher fees, as ethical managers have to spend time and money filtering companies. “This will have an impact on long-term performance but many investors may decide that this is an acceptable price to pay.”
Anybody who is interested in ethical investing must read the fine print very carefully when choosing a fund, because criteria differs says Mr Cronin: "If you are paying extra for sustainable investing, you will want to be sure it actually does make a difference."
Saints and sinners
Gordon Robertson, director of wealth managers Investme Financial Services in Dubai, warns that investors may struggle to sort out good stocks and funds from the bad, as do many advisers. Good intentions are all very well up to a point, he says. “We all want to invest ethically or sustainably, but we also want to save enough for our retirement.”
Ethical investment funds have performed well lately but in the longer run this sector may still involve financial sacrifices, Mr Robertson says, as demand for “sin stocks” such as energy, banking, armaments, gambling, tobacco and alcohol remains strong.
Another danger of ethical investing is that you can end up with a portfolio weighted to small- medium-sized companies, as these are less likely to fall foul of ethical criteria compared to sprawling multinationals operating in a range of different countries.
Green is good, to revise an old investment saying. Just remember, having enough money in your pension pot is good as well.
Full list of Emmy 2020 nominations
LEAD ACTOR IN A COMEDY SERIES
Anthony Anderson, Black-ish
Don Cheadle, Black Monday
Ted Danson, The Good Place
Michael Douglas, The Kominsky Method
Eugene Levy, Schitt’s Creek
Ramy Youssef, Ramy
LEAD ACTRESS IN A COMEDY SERIES
Christina Applegate, Dead to Me
Rachel Brosnahan, The Marvelous Mrs. Maisel
Linda Cardellini, Dead to Me
Catherine O’Hara, Schitt’s Creek
Issa Rae, Insecure
Tracee Ellis Ross, Black-ish
OUTSTANDING VARIETY/TALK SERIES
The Daily Show with Trevor Noah
Full Frontal with Samantha Bee
Jimmy Kimmel Live
Last Week Tonight with John Oliver
The Late Show with Stephen Colbert
LEAD ACTOR IN A DRAMA SERIES
Jason Bateman, Ozark
Sterling K. Brown, This Is Us
Steve Carell, The Morning Show
Brian Cox, Succession
Billy Porter, Pose
Jeremy Strong, Succession
LEAD ACTRESS IN A DRAMA SERIES
Jennifer Aniston, The Morning Show
Olivia Colman, The Crown
Jodie Comer, Killing Eve
Laura Linney, Ozark
Sandra Oh, Killing Eve
Zendaya, Euphoria
OUTSTANDING REALITY/COMPETITION PROGRAM
The Masked Singer
Nailed It!
RuPaul’s Drag Race
Top Chef
The Voice
LEAD ACTOR IN A LIMITED SERIES/TV MOVIE
Jeremy Irons, Watchmen
Hugh Jackman, Bad Education
Paul Mescal, Normal People
Jeremy Pope, Hollywood
Mark Ruffalo, I Know This Much Is True
LEAD ACTRESS IN A LIMITED SERIES/TV MOVIE
Cate Blanchett, Mrs. America
Shira Haas, Unorthodox
Regina King, Watchmen
Octavia Spencer, Self Made
Kerry Washington, Little Fires Everywhere
OUTSTANDING LIMITED SERIES
Little Fires Everywhere
Mrs. America
Unbelievable
Unorthodox
Watchmen
OUTSTANDING COMEDY SERIES
Curb Your Enthusiasm
Dead to Me
The Good Place
Insecure
The Kominsky Method
The Marvelous Mrs. Maisel
Schitt’s Creek
What We Do In The Shadows
OUTSTANDING DRAMA SERIES
Better Call Saul
The Crown
The Handmaid’s Tale
Killing Eve
The Mandalorian
Ozark
Stranger Things
Succession
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
MATCH INFO
Mumbai Indians 186-6 (20 ovs)
Kings XI Punjab 183-5 (20 ovs)
Mumbai Indians won by three runs
Allardyce's management career
Clubs (10) - Limerick (1991-1992), Perston North End (1992), Blackpool (1994-1996), Notts County (1997-1999), Bolton Wanderers (1999-2007), Newcastle United (2007-2008), Blackburn Rovers (2008-2010), West Ham United (2011-2015), Sunderland (2016), Crystal Palace (2016-2017)
Countries (1) - England (2016)
Expert advice
“Join in with a group like Cycle Safe Dubai or TrainYAS, where you’ll meet like-minded people and always have support on hand.”
Stewart Howison, co-founder of Cycle Safe Dubai and owner of Revolution Cycles
“When you sweat a lot, you lose a lot of salt and other electrolytes from your body. If your electrolytes drop enough, you will be at risk of cramping. To prevent salt deficiency, simply add an electrolyte mix to your water.”
Cornelia Gloor, head of RAK Hospital’s Rehabilitation and Physiotherapy Centre
“Don’t make the mistake of thinking you can ride as fast or as far during the summer as you do in cooler weather. The heat will make you expend more energy to maintain a speed that might normally be comfortable, so pace yourself when riding during the hotter parts of the day.”
Chandrashekar Nandi, physiotherapist at Burjeel Hospital in Dubai
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
MATCH INFO
Burnley 1 (Brady 89')
Manchester City 4 (Jesus 24', 50', Rodri 68', Mahrez 87')
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
Cry Macho
Director: Clint Eastwood
Stars: Clint Eastwood, Dwight Yoakam
Rating:**
Nayanthara: Beyond The Fairy Tale
Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
Race card
5pm: Maiden (PA) Dh80,000 (Turf) 1,600m
5.30pm: Handicap (PA) Dh80,000 (T) 1,600m
6pm: Arabian Triple Crown Round-1 Listed (PA) Dh230,000 (T) 1,600m
6.30pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 1,400m
7pm: Maiden (PA) Dh80,000 (T) 1,200m
7.30pm: Handicap (TB) Dh100,000 (T) 2,400m
Arctic Monkeys
Tranquillity Base Hotel Casino (Domino)
Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
Basquiat in Abu Dhabi
One of Basquiat’s paintings, the vibrant Cabra (1981–82), now hangs in Louvre Abu Dhabi temporarily, on loan from the Guggenheim Abu Dhabi.
The latter museum is not open physically, but has assembled a collection and puts together a series of events called Talking Art, such as this discussion, moderated by writer Chaedria LaBouvier.
It's something of a Basquiat season in Abu Dhabi at the moment. Last week, The Radiant Child, a documentary on Basquiat was shown at Manarat Al Saadiyat, and tonight (April 18) the Guggenheim Abu Dhabi is throwing the re-creation of a party tonight, of the legendary Canal Zone party thrown in 1979, which epitomised the collaborative scene of the time. It was at Canal Zone that Basquiat met prominent members of the art world and moved from unknown graffiti artist into someone in the spotlight.
“We’ve invited local resident arists, we’ll have spray cans at the ready,” says curator Maisa Al Qassemi of the Guggenheim Abu Dhabi.
Guggenheim Abu Dhabi's Canal Zone Remix is at Manarat Al Saadiyat, Thursday April 18, from 8pm. Free entry to all. Basquiat's Cabra is on view at Louvre Abu Dhabi until October
Is it worth it? We put cheesecake frap to the test.
The verdict from the nutritionists is damning. But does a cheesecake frappuccino taste good enough to merit the indulgence?
My advice is to only go there if you have unusually sweet tooth. I like my puddings, but this was a bit much even for me. The first hit is a winner, but it's downhill, slowly, from there. Each sip is a little less satisfying than the last, and maybe it was just all that sugar, but it isn't long before the rush is replaced by a creeping remorse. And half of the thing is still left.
The caramel version is far superior to the blueberry, too. If someone put a full caramel cheesecake through a liquidiser and scooped out the contents, it would probably taste something like this. Blueberry, on the other hand, has more of an artificial taste. It's like someone has tried to invent this drink in a lab, and while early results were promising, they're still in the testing phase. It isn't terrible, but something isn't quite right either.
So if you want an experience, go for a small, and opt for the caramel. But if you want a cheesecake, it's probably more satisfying, and not quite as unhealthy, to just order the real thing.
MATCH INFO
Manchester City 2 (Mahrez 04', Ake 84')
Leicester City 5 (Vardy 37' pen, 54', 58' pen, Maddison 77', Tielemans 88' pen)
Man of the match: Jamie Vardy (Leicester City)
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Revibe%20%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Hamza%20Iraqui%20and%20Abdessamad%20Ben%20Zakour%20%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Refurbished%20electronics%20%0D%3Cbr%3E%3Cstrong%3EFunds%20raised%20so%20far%3A%3C%2Fstrong%3E%20%2410m%20%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFlat6Labs%2C%20Resonance%20and%20various%20others%0D%3C%2Fp%3E%0A
Terminal High Altitude Area Defense (THAAD)
What is THAAD?
It is considered to be the US' most superior missile defence system.
Production:
It was first created in 2008.
Speed:
THAAD missiles can travel at over Mach 8, so fast that it is hypersonic.
Abilities:
THAAD is designed to take out projectiles, namely ballistic missiles, as they are on their downward trajectory towards their target, otherwise known as the "terminal phase".
Purpose:
To protect high-value strategic sites, such as airfields or population centres.
Range:
THAAD can target projectiles both inside and outside of the Earth's atmosphere, at an altitude of 93 miles above the Earth's surface.
Creators:
Lockheed Martin was originally granted the contract to develop the system in 1992. Defence company Raytheon sub-contracts to develop other major parts of the system, such as ground-based radar.
UAE and THAAD:
In 2011, the UAE became the first country outside of the US to buy two THAAD missile defence systems. It then deployed them in 2016, becoming the first Gulf country to do so.
SCHEDULE
Saturday, April 20: 11am to 7pm - Abu Dhabi World Jiu-Jitsu Festival and Para jiu-jitsu.
Sunday, April 21: 11am to 6pm - Abu Dhabi World Youth (female) Jiu-Jitsu Championship.
Monday, April 22: 11am to 6pm - Abu Dhabi World Youth (male) Jiu-Jitsu Championship.
Tuesday, April 23: 11am-6pm Abu Dhabi World Masters Jiu-Jitsu Championship.
Wednesday, April 24: 11am-6pm Abu Dhabi World Professional Jiu-Jitsu Championship.
Thursday, April 25: 11am-5pm Abu Dhabi World Professional Jiu-Jitsu Championship.
Friday, April 26: 3pm to 6pm Finals of the Abu Dhabi World Professional Jiu-Jitsu Championship.
Saturday, April 27: 4pm and 8pm awards ceremony.
COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
The biog
Fatima Al Darmaki is an Emirati widow with three children
She has received 46 certificates of appreciation and excellence throughout her career
She won the 'ideal mother' category at the Minister of Interior Awards for Excellence
Her favourite food is Harees, a slow-cooked porridge-like dish made from boiled wheat berries mixed with chicken
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
