The race to go green in “backbone” areas of the economy has made progress despite a mixture of “headwinds and tailwinds” since Cop28 in the UAE, says a chief executive leading the effort.
Green alternatives are increasingly seen as an economic gain and not just a way of tackling climate change, said Faustine Delasalle, who leads an Industrial Transition Accelerator set up at the Dubai summit.
But the large sums of money needed could be held back by high global tensions and the suspense of the US presidential election.
To make the cuts in CO2 emissions by 2030 that scientists say are necessary, the funding for new green industrial plants needs to arrive “in the next couple of years”, Ms Delasalle said.
The Industrial Transition Accelerator, backed by the UAE's Cop28 presidency, the UN, billionaire Mike Bloomberg and former central banker Mark Carney, was set up to “enable us to do exactly that”, she said.
Its focus is on heavy industries such as steel, cement and chemicals production, as well as air travel and shipping.
Those areas are a “backbone of the global economy” that produce about 30 per cent of the world's emissions, she said.
Turning them green is tricky because familiar tactics such as replacing fossil fuels with electricity are not as simple in mid-air, at sea and at very high temperatures.
The 197-nation Cop28 climate deal, known as the UAE Consensus, called for these “hard-to-abate sectors” to be a focus of global efforts.
As those efforts gather pace “there's headwinds and there's tailwinds”, Ms Delasalle, a former French political adviser, told The National.
“There is greater momentum because I think governments understand that this is a matter of climate, but it is also a matter of industrial competitiveness. When it becomes a matter of industrial competitiveness, I think it jumps to the top of the political agenda much faster than when it's just a climate question.
“On the other hand, we've seen increased uncertainty on the political environment in a key number of countries, including the US. We've seen greater levels of geopolitical tensions, which obviously creates a more uncertain environment for investment.
“But that wasn't in the hands of the Cop28 presidency. I think we're making progress and the Cop28 moment has been an important moment to also frame this as an opportunity for investment and not just a climate imperative.”
Donald Trump's presidential campaign says he would once again pull the US out of the Paris climate agreement, as he did during his 2017 to 2021 presidency.
Pay a premium
The industry group is heading to the US next month and plans to use the annual New York Climate Week to encourage companies to go green.
It is telling manufacturers they should consider paying a little more for green versions of products such as steel and cement.
Experts hope the cost of clean alternatives, such as making steel and cement with hydrogen fuel, will eventually fall as they become more widespread. But scaling them up relies on people wanting to buy them, in what is sometimes called a chicken-and-egg problem.
“There's a number of companies that have committed to green purchase at a premium, and we really applaud those. They're really driving the market and differentiating themselves,” Ms Delasalle said.
“But what we're seeing is that voluntary demand is insufficient at this stage to drive scale, and so we really need to have an extra nudge towards companies that buy steel, buy cement, buy fertilisers.”
Her advice is that the extra cost will be “diluted” by the time it reaches houses and cars, meaning it should not raise prices too much for the everyday person.
“It shouldn't be that complex to propose a greener product to the end consumer with a premium that is very small and almost unnoticeable,” she said.
“If you realise that, then I think you can see opportunities to both decarbonise your supply chain and distinguish yourself in the market. But that is something that is not yet at the top of the mind of major consumer good companies.”
COMPANY%20PROFILE
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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.
UAE currency: the story behind the money in your pockets
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
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
CABINET%20OF%20CURIOSITIES%20EPISODE%201%3A%20LOT%2036
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Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
Essentials
The flights
Emirates and Etihad fly direct from the UAE to Geneva from Dh2,845 return, including taxes. The flight takes 6 hours.
The package
Clinique La Prairie offers a variety of programmes. A six-night Master Detox costs from 14,900 Swiss francs (Dh57,655), including all food, accommodation and a set schedule of medical consultations and spa treatments.
In The Heights
Directed by: Jon M. Chu
Stars: Anthony Ramos, Lin-Manual Miranda
Rating: ****
Killing of Qassem Suleimani
War 2
Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
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)
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
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
Sonchiriya
Director: Abhishek Chaubey
Producer: RSVP Movies, Azure Entertainment
Cast: Sushant Singh Rajput, Manoj Bajpayee, Ashutosh Rana, Bhumi Pednekar, Ranvir Shorey
Rating: 3/5
The bio
Job: Coder, website designer and chief executive, Trinet solutions
School: Year 8 pupil at Elite English School in Abu Hail, Deira
Role Models: Mark Zuckerberg and Elon Musk
Dream City: San Francisco
Hometown: Dubai
City of birth: Thiruvilla, Kerala
