London's Ultra Low Emission Zone (Ulez) was extended on August 29 to cover all boroughs. Reuters
London's Ultra Low Emission Zone (Ulez) was extended on August 29 to cover all boroughs. Reuters
London's Ultra Low Emission Zone (Ulez) was extended on August 29 to cover all boroughs. Reuters
London's Ultra Low Emission Zone (Ulez) was extended on August 29 to cover all boroughs. Reuters


Sadiq Khan's way to clean London air is unpopular, as was banning smoking in public places


  • English
  • Arabic

August 29, 2023

Here’s a remarkable fact. If you catch a London Underground train at the station which serves the British parliament, Westminster, and travel east, then at every stop as you move towards the outskirts of the city the health outcomes in local neighbourhoods worsen. The further you travel from the centre of Britain’s political power, the poorer they get.

The person explaining this to me is Sadiq Khan, the mayor of London. In his role he is chief executive of the most populous city in Europe – about nine million people – and sometimes described as Europe’s most powerful Muslim political leader.

He is driven to try to improve the health of the city in which he was born and which he now represents. Mr Khan is also running for a third term as mayor, and now one of his most contentious policies brings together his political ambitions and his personal story.

Demonstrators protest against expanding London's Ulez, in which drivers of the most polluting cars pay £12.50 a day to drive, Reuters
Demonstrators protest against expanding London's Ulez, in which drivers of the most polluting cars pay £12.50 a day to drive, Reuters

In his forties Mr Khan developed late-onset asthma. He attributes this to breathing polluted London air. Back in 2019 he introduced Ulez – the Ultra Low Emission Zone – to keep the most polluting vehicles out of central London.

If you have a polluting car and drive in the Ulez area you pay £12.50 a day. That zone was extended on August 29 to all London boroughs. The mayor’s office says this means “bringing clean air to 5 million more people. Nine out of 10 cars seen driving in outer London on an average day won't be affected.” But not everyone is happy about this, most notably the one in 10 drivers who will have to pay a daily penalty or buy a new car.

Once imposed, the grumbling will slowly fade away and the controversial will become commonplace
Sadiq Khan,
London mayor

At a recent by-election in one of the affected outer suburbs the Conservative Party won the seat after a vigorous anti-Khan, anti-Ulez expansion campaign. Even if the idea of cleaning up London’s air is obviously sound, being forced to pay every day to use a polluting family car or face the expense of changing to a newer vehicle is never going to be universally popular. But when I spoke with him, mayor Khan was bullish. He sees Ulez as the latest in the endless historical challenges of making cities better places in which to live and work.

Short-term unpopularity, Mr Khan argues, is a price worth paying for long-term better health. He pointed out to me that every major historical change to improve the environment always encounters fierce opposition. Then the change happens and there is no going back. The wisdom of making the change seems obvious.

“If you and I were speaking in London in the middle of the 19th century,” he told me, “we’d both be complaining about the stink (from the polluted river Thames) and the fact that there are thousands of people dying from cholera. In the middle of the 19th century, this amazing engineer called Joseph Bazalgette backed up the brave politicians and decided to build sewers. A huge inconvenience, really unpopular. And those sewers saved lives. That was the Great Stink.”

Mr Khan went on to say: “In the middle of the 20th century, if we were in London in the 1950s, we would be talking about the Great Smog. We literally couldn’t walk more than 10 metres without bumping into something. Thousands of deaths, of course. Politicians passed the Clean Air Act and removed power stations from the centre of our cities to outside.”

He then adds to the list the more recent cigarette smoking ban in public places. From 2007 offices, restaurants, cinemas and public transport in Britain became smoke-free and – once more – opposition at the time faded. Nowadays, the idea of returning to smoke-filled workplaces and public places seems ludicrous. The same, he insists, will be true of the Ulez extension. Once imposed, the grumbling will slowly fade away, he believes, and the controversial will become commonplace.

I suspect Mr Khan is right, even if during the short-term adjustment period the complaints will make headlines. The simple truth is that, for me at least, driving a car in London is never pleasant. Parking is hugely expensive. Traffic congestion means getting anywhere is slow and painful. And at a time when so many politicians talk big and achieve little, London’s reinvigorated bus services and the new Elizabeth Line show what can be achieved by investing in public transport rather than roads for private cars.

Moreover, part of Mr Khan’s inspiration for extending Ulez is the death of a nine-year-old girl. Ella Roberta Adoo-Kissi-Debrah died from what the pathologist at her inquest called “one of the worst cases of asthma ever recorded in the UK”. In December 2020 the coroner concluded that because she lived near one of London’s busiest roads, “air pollution” should be listed as a cause of death – the first person in British history to have such a verdict recorded. The Great Stink and the Great Smog are now consigned to history. Avoiding future deaths from air pollution will be worth the temporary inconvenience necessary to make Europe’s greatest city cleaner and safer.

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UAE currency: the story behind the money in your pockets

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Brief scores:

Toss: Northern Warriors, elected to field first

Bengal Tigers 130-1 (10 ov)

Roy 60 not out, Rutherford 47 not out

Northern Warriors 94-7 (10 ov)

Simmons 44; Yamin 4-4

Updated: September 04, 2023, 10:43 AM