This article was produced in partnership with Irena
The International Renewable Energy Agency envisages a very different world.
It is one where a dramatic rise in electric vehicles and renewable technologies will affect our everyday lives. Many of us will require different roles and skills for jobs in the next few years – and how we live our lives will have to change.
The Abu Dhabi-based, intergovernmental organisation today sets out its “1.5˚C scenario”, in line with the goals of the 2015 Paris Agreement. Its scenario gives a glimpse into not only the environmental benefits of tackling planet-warming emissions, but the economic ones as well.
Only a few years ago, the renewables-centred approach espoused by Irena was considered too progressive, idealistic or even unrealistic. Today, our vision has become mainstream
Francesco La Camera,
International Renewable Energy Agency
It is an optimistic vision, but comes with a warning too: We have no time for talk, promises and rhetoric.
In its latest annual report it envisages coal being “phased out”, and investments in oil and gas “limited to facilitating a swift decline and a managed transition”.
Economies already heavily dependent on oil should move into carbon capture and storage, the agency says.
“Carbon capture and storage technologies should facilitate an energy transition in economies heavily dependent on oil and gas and provide a transitional solution where no other options exist,” said the report.
Innovation should target emerging technologies most likely to become competitive in the short-term and most effective in achieving emissions reductions in the long term.
Investments should support the path most likely to drive down energy emissions, said the agency.
And policies should promote “resilience, inclusion, and equity,” ensuring workers and communities adversely affected by the transition to more renewable sources of energy are protected.
Each region and country will progress at its own pace, it said.
Running out of time
A rapid decline in emissions “must begin now” to prevent the temperature from rising more than 1.5°C over pre-industrial levels by 2050.
But current policies will do no more than stabilise global emissions, with a “slight drop” as 2050 approaches, the agency said in a new report.
“We have no time,” said Francesco La Camera, director-general of Irena in a foreword to the report.
“The window is closing and the pathway to a net zero future is narrowing.
“A consensus has formed that an energy transition grounded in renewable sources of energy and efficient technologies is the only way to give us a fighting chance of limiting global warming by 2050 to 1.5°C.
“Only a few years ago, the renewables-centred approach espoused by Irena was considered too progressive, idealistic or even unrealistic.
“Today, our vision has become mainstream.”
He said that the demands were great and full of uncertainty.
“We are entering a new era of change, one in which energy transformation will drive economic transformation,” said Mr La Camera.
“This change is bringing unprecedented new possibilities to revitalise economies and lift people out of poverty. But the task ahead is daunting.”
The world needs to embrace technology, policy and market solutions that will take it forward, he said.
“Economic and human development goals, environmental concerns, and financial avenues must all be reconciled,” he said.
But the changes will have a marked impact on society, affecting everything from the jobs people will do in the future to the way they live their lives.
Here are three of the biggest:
Jobs
The energy sector will employ tens of millions of people, providing around 122 million jobs in 2050.
Jobs in renewable energy will rise from more than 11.5 million today to 43 million in 2050.
Most of them, 38 million, will be created in the next decade, meaning there were will be lots of opportunities for those entering the workforce or looking for jobs.
“We estimate that there will be at least three times more jobs in renewables,” said Elizabeth Press, director for planning and programme support at Irena.
Some of the skills required will be transferable.
But there will also be many jobs in the renewable energy industry that do not yet exist.
“There are additional skills that are required,” said Ms Press.
But many of the top 10 professions in the world did not exist a decade ago, she said.
The report predicts solar technologies will account for the largest share of jobs, followed by bioenergy, wind and hydropower.
“Construction, installation and manufacturing boost renewable jobs during the following decade, with operation and maintenance gaining relative weight as the transition advances,” it says.
Jobs are currently concentrated in areas like the installation and manufacture of renewables technology.
But they are being created in other areas, including construction, in operations and maintenance across a number of countries.
“Construction, installation and manufacturing [will] boost renewable jobs during the following decade, with operations and maintenance gaining relative weight as the transition advances,” it says.
Other jobs may be created in manufacturing and services, says the report.
Fossil fuels will not be switched off overnight, and will still exist to an extent even after renewables come to dominate, said Ms Press.
“We're not just going to switch off fossil fuels tomorrow and say, 'well OK now we're going to be renewable'," she said.
“It's a transition, so this is why we have a plan for 20 years.
“Some of this can be managed by attrition, some of it can be managed by retraining. Obviously, that is something that governments have to plan well in advance.”
The sector would also benefit from attracting new talent.
Women make up 32 per cent of the workforce, which is higher than the 22 per cent of the energy sector overall, but not high enough, according to Irena.
“It is evident women represent a pool of talent yet to be fully utilised,” says the report.
Transport
Electricity will make up the biggest single share of energy generation in the future.
And in no sector will the impact be more apparent than in transport.
Electric vehicle sales currently account for only 4 per cent of all sales, but will rise to 100 per cent by 2050, up from 7 million in 2020 to 1.8 billion in 2050, when electric vehicles will account for 80 per cent of all road transport.
But major improvements in technology are required first.
The report predicts stationary battery storage will more than triple between 2018 to 2050.
“Technology is improving very, very rapidly and all the large car makers have made commitments and deadlines on electromobility. That means there's going to be a lot more innovation around this, because they know they don't make these commitments unless they have a very clear strategy in place to shift,” said Ms Press.
Car makers with commitments to go green include Volvo, which aims to become a fully electric marque by 2030.
Other companies like BMW aim for half of sales to be in electric cars.
But countries will have to upgrade their infrastructure to cope with the growth.
That will lead to some in the Third World leapfrogging advanced economies, said Ms Press.
“In Rwanda, there is a company that is refurbishing normal motorbikes with batteries that are replaceable, and it just got some funding from Silicon Valley because the market is enormous in the global south,” said Ms Press.
“So when you think about it, why would they ever develop an infrastructure when they can have that sort of infrastructure developing right now?
“So, some leapfrogging will definitely happen.
“It is the great equaliser.”
Policies to promote electric vehicles will also continue to increase, further driving the growth in the market.
“All of the top markets for electric vehicles to date, for example China, Norway and the United States, have introduced such policies.”
Norway has a high percentage of electric vehicles as a direct result of policy, said Ms Press.
“They have a lot of inexpensive electricity, and they have put several incentives in place, so everybody in Oslo drives a Tesla,” she said.
“Because you don't have to pay for the parking, you can end up charging for free, because the electricity is so inexpensive.”
Innovation
Technology will become even more integrated into everyday life.
Significant progress has already been made in areas like battery storage, solar power and the Internet of Things.
But that will accelerate, contributing to the rise in the use of renewable technologies, said Irena.
And the growth will partly be driven by people, who will install technologies like solar panels, or even mini wind turbines on their properties.
“What I find super exciting about renewables is it is everybody's business,” said Ms Press.
“Suddenly you will have a lot more control over what you want to have in your life and you can participate. You can actually be part of the system.”
Technologies like blockchain – a tamper-proof ledger of every transaction made in a system – will increasingly be used to share the proceeds of investments into solar energy and other technologies.
Ms Press already takes part, and says these transactions will become more common.
She bought solar panels at a school in South Africa, which uses the power for itself and sells whatever is left over back to the grid.
“Somehow I get paid from the electricity because part of it goes into the school but part of it goes into the market,” said Ms Press. “I don't know the nitty-gritty, but what I found super interesting is I'm sitting in Europe, and I am participating in something that matters to me as a person and I actually don't mind if I earn money or not.
“But it's a lot more fun to look on my app to see what it's like in South Africa right now. How school is going, how it’s feeding into the grid. Seeing all that makes you feel a part of something bigger.”
More from Neighbourhood Watch
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
Dengue%20fever%20symptoms
%3Cp%3EHigh%20fever%20(40%C2%B0C%2F104%C2%B0F)%3Cbr%3ESevere%20headache%3Cbr%3EPain%20behind%20the%20eyes%3Cbr%3EMuscle%20and%20joint%20pains%3Cbr%3ENausea%3Cbr%3EVomiting%3Cbr%3ESwollen%20glands%3Cbr%3ERash%26nbsp%3B%3C%2Fp%3E%0A
Company name: Farmin
Date started: March 2019
Founder: Dr Ali Al Hammadi
Based: Abu Dhabi
Sector: AgriTech
Initial investment: None to date
Partners/Incubators: UAE Space Agency/Krypto Labs
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Global state-owned investor ranking by size
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China
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UAE
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Japan
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Norway
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Canada
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Singapore
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Australia
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Saudi Arabia
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South Korea
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A Cat, A Man, and Two Women
Junichiro Tamizaki
Translated by Paul McCarthy
Daunt Books
UAE currency: the story behind the money in your pockets
A general guide to how active you are:
Less than 5,000 steps - sedentary
5,000 - 9,999 steps - lightly active
10,000 - 12,500 steps - active
12,500 - highly active
AndhaDhun
Director: Sriram Raghavan
Producer: Matchbox Pictures, Viacom18
Cast: Ayushmann Khurrana, Tabu, Radhika Apte, Anil Dhawan
Rating: 3.5/5
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The biog
Name: Timothy Husband
Nationality: New Zealand
Education: Degree in zoology at The University of Sydney
Favourite book: Lemurs of Madagascar by Russell A Mittermeier
Favourite music: Billy Joel
Weekends and holidays: Talking about animals or visiting his farm in Australia
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.”
Key figures in the life of the fort
Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.
Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.
Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.
Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.
Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.
Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.
Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.
Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.
Sources: Jayanti Maitra, www.adach.ae
PREMIER LEAGUE FIXTURES
All kick-off times UAE ( 4 GMT)
Saturday
Liverpool v Manchester United - 3.30pm
Burnley v West Ham United - 6pm
Crystal Palace v Chelsea - 6pm
Manchester City v Stoke City - 6pm
Swansea City v Huddersfield Town - 6pm
Tottenham Hotspur v Bournemouth - 6pm
Watford v Arsenal - 8.30pm
Sunday
Brighton and Hove Albion v Everton - 4.30pm
Southampton v Newcastle United - 7pm
Monday
Leicester City v West Bromwich Albion - 11pm
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
Ticket prices
General admission Dh295 (under-three free)
Buy a four-person Family & Friends ticket and pay for only three tickets, so the fourth family member is free
Buy tickets at: wbworldabudhabi.com/en/tickets
SPECS
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The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
If you go
Flight connections to Ulaanbaatar are available through a variety of hubs, including Seoul and Beijing, with airlines including Mongolian Airlines and Korean Air. While some nationalities, such as Americans, don’t need a tourist visa for Mongolia, others, including UAE citizens, can obtain a visa on arrival, while others including UK citizens, need to obtain a visa in advance. Contact the Mongolian Embassy in the UAE for more information.
Nomadic Road offers expedition-style trips to Mongolia in January and August, and other destinations during most other months. Its nine-day August 2020 Mongolia trip will cost from $5,250 per person based on two sharing, including airport transfers, two nights’ hotel accommodation in Ulaanbaatar, vehicle rental, fuel, third party vehicle liability insurance, the services of a guide and support team, accommodation, food and entrance fees; nomadicroad.com
A fully guided three-day, two-night itinerary at Three Camel Lodge costs from $2,420 per person based on two sharing, including airport transfers, accommodation, meals and excursions including the Yol Valley and Flaming Cliffs. A return internal flight from Ulaanbaatar to Dalanzadgad costs $300 per person and the flight takes 90 minutes each way; threecamellodge.com
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The five pillars of Islam
UAE gold medallists:
Omar Al Suweidi (46kg), Khaled Al Shehhi (50kg), Khalifa Humaid Al Kaabi (60kg), Omar Al Fadhli (62kg), Mohammed Ali Al Suweidi (66kg), Omar Ahmed Al Hosani (73), all in the U18’s, and Khalid Eskandar Al Blooshi (56kg) in the U21s.
THE%C2%A0SPECS
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if you go
The flights
Fly direct to Kutaisi with Flydubai from Dh925 return, including taxes. The flight takes 3.5 hours. From there, Svaneti is a four-hour drive. The driving time from Tbilisi is eight hours.
The trip
The cost of the Svaneti trip is US$2,000 (Dh7,345) for 10 days, including food, guiding, accommodation and transfers from and to Tbilisi or Kutaisi. This summer the TCT is also offering a 5-day hike in Armenia for $1,200 (Dh4,407) per person. For further information, visit www.transcaucasiantrail.org/en/hike/
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
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UAE currency: the story behind the money in your pockets
Cricket World Cup League 2
UAE squad
Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind
Fixtures
Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE
