More than $12 billion has been pledged to tackle the issue of land degradation at a major climate conference in Riyadh this week.
The funding boost announced at the UN Convention to Combat Desertification at Cop16, which began on Monday, comes after an injection of $10 billion from the Arab Coordination Group, a strategic alliance of 10 development finance institutions.
The fund flows follow the launch of the Riyadh Global Drought Resilience Partnership on the first day of the summit, which received an initial commitment of $2 billion from the Opec Fund and Islamic Development Bank, alongside $150 million provided by Saudi Arabia to kick-start the initiative.
Islamic Development Bank Group chairman, Dr Muhammad Al Jasser, speaking on behalf of the ACG, said: "By restoring degraded lands and combating desertification and drought, we are not just preserving ecosystems but also securing livelihoods and fostering resilience in the world’s most vulnerable communities."
Dr Osama Faqeeha, Saudi Arabia's Deputy Minister for Environment, Ministry of Environment, Water and Agriculture, and Advisor to the Cop16 Presidency, said he hoped that this is just the start of support to combat land degradation, desertification and drought.
Dr Faqeeha anticipates further contributions from international private and public sector partners. “We are calling on countries, companies, organisations, scientists, NGOs, financial institutions and communities to join this pivotal partnership and become part of a global movement to build a drought-resilient future," he said.
According to the UNCCD, international land restoration efforts will require $355 billion annually from 2025 to 2030. However, projected investments are expected to come in at $77 billion per year. This means that a further $278 billion needs to be mobilised to tackle drought and land degradation.
In an interview with The National before the event, Dr Faqeeha expressed the need for businesses to pick up the pace and fill the finance gap to tackle the effects of drought.
The UNCCD has forecast that the benefits of restoring land outweighs the cost. According to a recent report, restoring more than one billion hectares of land could generate up to $1.8 trillion annually.
Desertification linked to climate change is on the rise and land degradation affects nearly 40 per cent of the planet and the lives of more than 3.2 billion people.
Ibrahim Thiaw, UNCCD Executive Secretary, said: “While no nation is immune to drought, 85 per cent of the people impacted by it live in low- and middle-income countries. In a globalised world, it is our collective responsibility, and our shared interest, to liberate everybody, everywhere, from the worst impacts of drought."
Cop16 will conclude on December 13.
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: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
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
Why are asylum seekers being housed in hotels?
The number of asylum applications in the UK has reached a new record high, driven by those illegally entering the country in small boats crossing the English Channel.
A total of 111,084 people applied for asylum in the UK in the year to June 2025, the highest number for any 12-month period since current records began in 2001.
Asylum seekers and their families can be housed in temporary accommodation while their claim is assessed.
The Home Office provides the accommodation, meaning asylum seekers cannot choose where they live.
When there is not enough housing, the Home Office can move people to hotels or large sites like former military bases.
More from Rashmee Roshan Lall
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
Mohammed bin Zayed Majlis
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
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
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
