The Abu Dhabi Global Market building on Abu Dhabi's Al Maryah Island. ADGM in July launched a regulatory framework for sustainable finance. Ruel Pableo / The National
The Abu Dhabi Global Market building on Abu Dhabi's Al Maryah Island. ADGM in July launched a regulatory framework for sustainable finance. Ruel Pableo / The National
The Abu Dhabi Global Market building on Abu Dhabi's Al Maryah Island. ADGM in July launched a regulatory framework for sustainable finance. Ruel Pableo / The National
The Abu Dhabi Global Market building on Abu Dhabi's Al Maryah Island. ADGM in July launched a regulatory framework for sustainable finance. Ruel Pableo / The National

UAE to host top global experts to discuss international finance reform ahead of Cop28


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The UAE's Cop28 presidency has announced that it will host an international group of top economists, private sector leaders, and the UN Climate Change High-Level Champions this week to boost efforts being made to reform international finance ahead of the major climate change summit.

The Independent High-Level Expert Group on Climate Finance will gather at Abu Dhabi Global Market on Tuesday and Wednesday, and will present policy options and recommendations to enable the public and private investment necessary to meet the ambitions of the Paris Climate Agreement, state news agency Wam reported.

Cop28 is scheduled to be held in Dubai from November 30 to December 12, and is expected to be the most inclusive Cop conference yet.

Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, is the Cop28 President-designate.

The meeting will be attended by Ahmed Al Zaabi, chairman of the Abu Dhabi Department of Economic Development and ADGM, Nicholas Stern and Vera Songwe, co-chairs of the IHLEG, Amar Bhattacharya, executive secretary of the IHLEG, Kristalina Georgieva, managing director of the International Monetary Fund, senior World Bank representatives and other economists.

The IHLEG aims to evaluate the progress being made on the climate finance landscape and develop a road map of actions needed during Cop28 and beyond.

The ultimate goal of IHLEG is to advance a holistic financial framework for resource mobilisation to deliver an equitable and efficient climate finance system, as set out in the Paris Agreement and Glasgow Pact, and start its implementation.

"Concrete actions by Abu Dhabi and its entities such as the Abu Dhabi Department of Economic Development and ADGM are defining the new architecture for financing sustainability. Our goal is simple and direct – to drive capital towards projects that advance the transition to a net-zero future," Mr Al Zaabi said.

The financial sector has an important role to play in the fight against climate change, and sustainable finance aims to help society better meet today’s needs and ensure that future generations will be able to meet theirs too, according to the IMF.

The global sustainable finance market, which was valued at $3.65 trillion in 2021, is projected to hit $22.48 trillion by 2031, growing at a compound annual rate of more than 20 per cent between 2022 and 2031, according to Allied Market Research.

The IHLEG will launch a final report on sustainable finance at Cop28 and will establish a plan of actions to help execute the road map during the conference.

The UAE's Cop28 presidency has named "fixing climate finance" one of its four priority action pillars for the summit, alongside fast-tracking the energy transition, ensuring full inclusivity and addressing lives and livelihoods.

UAE currency: the story behind the money in your pockets
Pakistan Super League

Previous winners

2016 Islamabad United

2017 Peshawar Zalmi

2018 Islamabad United

2019 Quetta Gladiators

 

Most runs Kamran Akmal – 1,286

Most wickets Wahab Riaz –65

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).

In-demand jobs and monthly salaries
  • Technology expert in robotics and automation: Dh20,000 to Dh40,000 
  • Energy engineer: Dh25,000 to Dh30,000 
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  • Data-driven supply chain management professional: Dh30,000 to Dh50,000 
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  • Senior maintenance engineer: Dh22,000 to Dh34,000 
  • Field engineer: Dh6,500 to Dh7,500
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  • Field operator: Dh5,000 to Dh7,000
The past Palme d'Or winners

2018 Shoplifters, Hirokazu Kore-eda

2017 The Square, Ruben Ostlund

2016 I, Daniel Blake, Ken Loach

2015 DheepanJacques Audiard

2014 Winter Sleep (Kış Uykusu), Nuri Bilge Ceylan

2013 Blue is the Warmest Colour (La Vie d'Adèle: Chapitres 1 et 2), Abdellatif Kechiche, Adele Exarchopoulos and Lea Seydoux

2012 Amour, Michael Haneke

2011 The Tree of LifeTerrence Malick

2010 Uncle Boonmee Who Can Recall His Past Lives (Lung Bunmi Raluek Chat), Apichatpong Weerasethakul

2009 The White Ribbon (Eine deutsche Kindergeschichte), Michael Haneke

2008 The Class (Entre les murs), Laurent Cantet

MATCH INFO

Who: UAE v USA
What: first T20 international
When: Friday, 2pm
Where: ICC Academy in Dubai

UAE currency: the story behind the money in your pockets
Profile of Bitex UAE

Date of launch: November 2018

Founder: Monark Modi

Based: Business Bay, Dubai

Sector: Financial services

Size: Eight employees

Investors: Self-funded to date with $1m of personal savings

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Company: Instabug

Founded: 2013

Based: Egypt, Cairo

Sector: IT

Employees: 100

Stage: Series A

Investors: Flat6Labs, Accel, Y Combinator and angel investors

Company profile

Date started: 2015

Founder: John Tsioris and Ioanna Angelidaki

Based: Dubai

Sector: Online grocery delivery

Staff: 200

Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends

'Worse than a prison sentence'

Marie Byrne, a counsellor who volunteers at the UAE government's mental health crisis helpline, said the ordeal the crew had been through would take time to overcome.

“It was worse than a prison sentence, where at least someone can deal with a set amount of time incarcerated," she said.

“They were living in perpetual mystery as to how their futures would pan out, and what that would be.

“Because of coronavirus, the world is very different now to the one they left, that will also have an impact.

“It will not fully register until they are on dry land. Some have not seen their young children grow up while others will have to rebuild relationships.

“It will be a challenge mentally, and to find other work to support their families as they have been out of circulation for so long. Hopefully they will get the care they need when they get home.”

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Engine: 4-litre twin-turbo V8

Transmission: nine-speed

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UAE currency: the story behind the money in your pockets
The candidates

Dr Ayham Ammora, scientist and business executive

Ali Azeem, business leader

Tony Booth, professor of education

Lord Browne, former BP chief executive

Dr Mohamed El-Erian, economist

Professor Wyn Evans, astrophysicist

Dr Mark Mann, scientist

Gina MIller, anti-Brexit campaigner

Lord Smith, former Cabinet minister

Sandi Toksvig, broadcaster

 

ELIO

Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett

Directors: Madeline Sharafian, Domee Shi, Adrian Molina

Rating: 4/5

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 

Updated: August 14, 2023, 9:42 AM`