An offshore wind farm in the North Sea, 14 kilometres west of the Danish coast. Global investments in energy transition technologies in 2022 – including energy efficiency – set a new record high. AP
An offshore wind farm in the North Sea, 14 kilometres west of the Danish coast. Global investments in energy transition technologies in 2022 – including energy efficiency – set a new record high. AP
An offshore wind farm in the North Sea, 14 kilometres west of the Danish coast. Global investments in energy transition technologies in 2022 – including energy efficiency – set a new record high. AP
Dr Nawal Al-Hosany is permanent representative of the UAE to the International Renewable Energy Agency
March 02, 2023
More than a year since the start of the war in Ukraine, the repercussions have had a seismic impact on the energy transition.
The vulnerability of a world reliant on a single source of energy has been painfully underscored, further reinforcing the urgent need to diversify the global energy mix. Long-standing energy ties and supply lines have shifted to new paradigms, perhaps irreversibly, as new partnerships have emerged. In short, we have witnessed a major reshuffling of the global energy system.
As the dialogues held at the Munich Security Conference last month showed, this altered energy landscape doesn’t end with the supply of hydrocarbons. It will extend to green energy solutions in the future.
This climate of geopolitical volatility has laid bare the importance of driving an inclusive energy transition. But this very energy transition now hangs in the balance.
Increased prices for minerals and metals necessary for the development of renewable and clean energy technologies mean that countries pursuing net-zero targets now have to contend with so-called ‘greenwalls’ to push through their plans.
The damaged fourth reactor at the Chornobyl Nuclear Power Plant in Ukraine, pictured last April. The country's war with Russia has had a major effect on the global energy transition. Reuters
Access to energy in the developing world has also been greatly impacted. Rising energy prices, and the consequent rising cost of electricity generation have meant that the 70 million people who gained access to electricity prior to the conflict can no longer afford it. As a knock-on-effect, this also means access to clean cooking fuels is once again restricted, forcing people in climate-vulnerable communities to resort to high-emitting fuels, putting their health at further risk.
While this new landscape is still evolving, one thing is certain: we will not return to the way things were.
While there is certainly no silver bullet to this complex, unfolding situation, it underlines the already-compelling point that we must accelerate the shift towards more sustainable energy solutions, as we define the contours of tomorrow’s energy system.
Countries across the world have recognised this and acted, putting a robust and diverse energy mix at the heart of energy security policies implemented in the wake of the conflict. From the EU to the US and Canada, and from Australia to India, a raft of policies have been designed to increase the share of renewables in national energy mixes, decarbonise industrial processes and raise emissions reduction ambitions.
While this new landscape is still evolving, one thing is certain: we will not return to the way things were
It follows, then, that global investments in energy transition technologies in 2022 – including energy efficiency – set a new record high, to reach $1.3 trillion. That’s an increase of 19 per cent from 2021 investment levels, and a 50 per cent spike from before the pandemic in 2019, according to a new report from the International Renewable Energy Agency (Irena) and the Climate Policy Initiative (CPI).
These figures clearly demonstrate that in response to geopolitical uncertainty and disruptions to traditional energy sources, many countries are accelerating their transition plans, recognising the benefits of a more diverse and sustainable energy mix.
However, the joint report by Irena and the CPI — launched on the side-lines of the Spanish International Renewable Energy Conference (SPIREC) in Madrid this week — also finds that, although global investment in renewable energy reached a record high, this still represents less than 40 per cent of the average investment needed each year between 2021 and 2030, according to Irena’s 1.5°C Scenario.
With renewable energy expected to account for 95 per cent of the net increase in global power capacity from all sources combined over the next two years, the international community must build on this momentum to secure an inclusive energy transition, and overcome the emerging hurdles on the road to net zero economies.
We must ensure that investments are going into the right technologies and the right solutions for a practical energy transition, to diversify the energy mix, support the development of new industries and create new jobs.
As more countries adopt ambitious renewable energy targets and policies, the UAE continues to play a leading role as a reliable energy producer, while driving the development of clean and renewable energy solutions.
Following a landmark agreement signed with Germany in September aimed at accelerating joint efforts to boost energy security, decarbonisation and combat climate change, the UAE delivered its first batch of low-carbon ammonia, in another demonstration of the UAE’s commitment to delivering energy solutions to where they are needed.
Such partnerships with the international community will be crucial to ensuring the energy transition stays on track. Indeed, partnerships will be a key area of focus at Cop28 in the UAE this year, as we leverage our convening power to bring nations together to build consensus on the most efficient way forward for climate action in this evolving geopolitical context.
Because while the Ukraine conflict has exposed the major vulnerabilities in today’s energy system, we’ve seen that renewable solutions can bridge the gap between supply and demand. The key to progress lies in striking the balance between energy security and climate progress – a topic that we cannot afford to lose sight of.
Farage on Muslim Brotherhood
Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister. "We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know. “All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.” It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins. Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement. The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.
4.35pm: Tilal Al Khalediah 5.10pm: Continous 5.45pm: Raging Torrent 6.20pm: West Acre 7pm: Flood Zone 7.40pm: Straight No Chaser 8.15pm: Romantic Warrior 8.50pm: Calandogan 9.30pm: Forever Young
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.
• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.
• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.
• 2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.
• PayPal is probably the best-known online goods payment method - usually used for eBay purchases - but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.
How to come clean about financial infidelity
Be honest and transparent: It is always better to own up than be found out. Tell your partner everything they want to know. Show remorse. Inform them of the extent of the situation so they know what they are dealing with.
Work on yourself: Be honest with yourself and your partner and figure out why you did it. Don’t be ashamed to ask for professional help.
Give it time: Like any breach of trust, it requires time to rebuild. So be consistent, communicate often and be patient with your partner and yourself.
Discuss your financial situation regularly: Ensure your spouse is involved in financial matters and decisions. Your ability to consistently follow through with what you say you are going to do when it comes to money can make all the difference in your partner’s willingness to trust you again.
Work on a plan to resolve the problem together: If there is a lot of debt, for example, create a budget and financial plan together and ensure your partner is fully informed, involved and supported.
Carol Glynn, founder of Conscious Finance Coaching
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Anghami
Started: December 2011
Co-founders: Elie Habib, Eddy Maroun
Based: Beirut and Dubai
Sector: Entertainment
Size: 85 employees
Stage: Series C
Investors: MEVP, du, Mobily, MBC, Samena Capital
Crazy Rich Asians
Director: Jon M Chu
Starring: Constance Wu, Henry Golding, Michelle Yeon, Gemma Chan
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
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Burnley 0
Man City 3
Raheem Sterling 35', 49'
Ferran Torres 65'
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Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Sole survivors
Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
Flying
There is no simple way to get to Punta Arenas from the UAE, with flights from Dubai and Abu Dhabi requiring at least two connections to reach this part of Patagonia. Flights start from about Dh6,250.
Touring
Chile Nativo offers the amended Los Dientes trek with expert guides and porters who are met in Puerto Williams on Isla Navarino. The trip starts and ends in Punta Arenas and lasts for six days in total. Prices start from Dh8,795.
