Pandemic no excuse to cut climate-change budgets, former Unilever boss Paul Polman says


Patrick Ryan
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Using the pandemic as an excuse to cut spending to tackle climate change will have devastating consequences, a leading businessman said.

Veteran multinational boss Paul Polman said a failure to rebuild economies with a focus on sustainability could be catastrophic.

“The biggest risk I see right now is many governments are saying 'we have run out of money and have to pull back now',” said Mr Polman, a former chief executive of Unilever, who now works with businesses to tackle climate change.

“It would be a tragedy if we cannot ensure more capital flows into greener directions.

Mother Nature is sending us the invoices. It's not a battle between nature and humanity, because nature is going to win

“We absolutely need governments to make that happen at the right scale and speed.”

Mr Polman was addressing an online seminar hosted by Masdar to promote Abu Dhabi Sustainability Week in January 2021.

He also said that the current political climate could have severe repercussions for the green economy.

“Unfortunately, we are at a very, very low point in global governance,” he said.

“Even issues like Covid-19 cannot be co-ordinated. Lots of money is being wasted.

“Climate change has been politicised to the extent that millions and millions of people are suffering.”

Next month’s presidential election in the US may be a tipping point, he said.

Smoke and steam rise from a coal processing plant in Hejin in central China's Shanxi Province in 2019. The Covid-19 pandemic has proved an unlikely push for green transition amid falling emissions from halted air and ground travel. AP
Smoke and steam rise from a coal processing plant in Hejin in central China's Shanxi Province in 2019. The Covid-19 pandemic has proved an unlikely push for green transition amid falling emissions from halted air and ground travel. AP

“Progress will be influenced by the outcome of the US elections,” said Mr Polman, a Dutch businessman who ran Unilever for a decade until 2019. He co-founded Imagine, which works with company chief executives to combat climate change.

“That will be an indicator of how quickly governments come together and align their policies across the world to have the right frameworks in place.”

US President Donald Trump was widely criticised when he withdrew his country from the Paris climate accords, which were negotiated by his predecessor, Barack Obama.

Joe Biden, Trump’s opponent in the election, has pledged to re-join the Paris climate agreement if he is voted in.

Mr Polman said too much was at stake for governments and businesses to bury their heads in the sand when it comes to dealing with an ecological crisis.

“There are millions of people who have been exposed to climate risk and are becoming refugees,” he said.

“There are people drowning because of floods and there are fires in the US and Australia on a scale we have never seen before.

“Mother Nature is sending us the invoices. It’s not a battle between nature and humanity, because nature is going to win.”

The first Ecological Threat Register, produced by the Institute of Economics and Peace, was released last month.

It said that up to 1.2 billion people could be displaced globally by 2050.

Lessons must be learnt from the financial crisis of 2008 when governments and businesses failed to put the green economy at the top of their growth agenda, Mr Polman said.

“We missed a huge opportunity. A lot of money was spent to keep the banks afloat because there was a feeling that banks were too big to fail and people were too small to matter,” he said.

Only 2.5 per cent of the money spent to boost economic recovery was spent in building a greener economy.

“Climate change and income inequality went up further and this was expressed in the polls,” he said.

Mr Polman cited Brexit, Trump's administration, rising inequality and broader global instability as factors that had not left the world as well equipped to tackle the pandemic.

“The cost of acting is significantly lower than not acting. To go back to where we came from is simply not an option,” he said.

“Even before Covid-19 we saw the enormous costs of not being in balance with the planet.

“Climate change and the destruction of biodiversity are increasing costs that businesses have to bear.

“Covid-19 has shown that we cannot have healthy people on an unhealthy planet.

“The reason we have pandemics is because of the encroachment on biodiversity and the mixing of our wildlife with our human life.”

Gothia Cup 2025

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WOMAN AND CHILD

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Starring: Parinaz Izadyar, Payman Maadi

Rating: 4/5

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Omar Yabroudi's factfile

Born: October 20, 1989, Sharjah

Education: Bachelor of Science and Football, Liverpool John Moores University

2010: Accrington Stanley FC, internship

2010-2012: Crystal Palace, performance analyst with U-18 academy

2012-2015: Barnet FC, first-team performance analyst/head of recruitment

2015-2017: Nottingham Forest, head of recruitment

2018-present: Crystal Palace, player recruitment manager

 

 

 

 

The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

Brief scoreline:

Liverpool 2

Keita 5', Firmino 26'

Porto 0

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COMPANY PROFILE

Company name: Letstango.com

Started: June 2013

Founder: Alex Tchablakian

Based: Dubai

Industry: e-commerce

Initial investment: Dh10 million

Investors: Self-funded

Total customers: 300,000 unique customers every month

Bio

Born in Dubai in 1994
Her father is a retired Emirati police officer and her mother is originally from Kuwait
She Graduated from the American University of Sharjah in 2015 and is currently working on her Masters in Communication from the University of Sharjah.
Her favourite film is Pacific Rim, directed by Guillermo del Toro

UAE currency: the story behind the money in your pockets
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Dh3.7 million

The estimated cost of Victoria Swarovski’s gem-encrusted Michael Cinco wedding gown

46

The number, in kilograms, that Swarovski’s wedding gown weighed.

1,000

The hours it took to create Cinco’s vermillion petal gown, as seen in his atelier [note, is the one he’s playing with in the corner of a room]

50

How many looks Cinco has created in a new collection to celebrate Ballet Philippines’ 50th birthday

3,000

The hours needed to create the butterfly gown worn by Aishwarya Rai to the 2018 Cannes Film Festival.

1.1 million

The number of followers that Michael Cinco’s Instagram account has garnered.

Keep it fun and engaging

Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.

“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.

His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.

He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.

Squid Game season two

Director: Hwang Dong-hyuk 

Stars:  Lee Jung-jae, Wi Ha-joon and Lee Byung-hun

Rating: 4.5/5

Safety 'top priority' for rival hyperloop company

The chief operating officer of Hyperloop Transportation Technologies, Andres de Leon, said his company's hyperloop technology is “ready” and safe.

He said the company prioritised safety throughout its development and, last year, Munich Re, one of the world's largest reinsurance companies, announced it was ready to insure their technology.

“Our levitation, propulsion, and vacuum technology have all been developed [...] over several decades and have been deployed and tested at full scale,” he said in a statement to The National.

“Only once the system has been certified and approved will it move people,” he said.

HyperloopTT has begun designing and engineering processes for its Abu Dhabi projects and hopes to break ground soon. 

With no delivery date yet announced, Mr de Leon said timelines had to be considered carefully, as government approval, permits, and regulations could create necessary delays.

The specs
Engine: 3.0-litre twin-turbo flat-six

Power: 480hp at 6,500rpm

Torque: 570Nm from 2,300-5,000rpm

Transmission: 8-speed dual-clutch auto

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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
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  • 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
In-demand jobs and monthly salaries
  • Technology expert in robotics and automation: Dh20,000 to Dh40,000 
  • Energy engineer: Dh25,000 to Dh30,000 
  • Production engineer: Dh30,000 to Dh40,000 
  • Data-driven supply chain management professional: Dh30,000 to Dh50,000 
  • HR leader: Dh40,000 to Dh60,000 
  • Engineering leader: Dh30,000 to Dh55,000 
  • Project manager: Dh55,000 to Dh65,000 
  • Senior reservoir engineer: Dh40,000 to Dh55,000 
  • Senior drilling engineer: Dh38,000 to Dh46,000 
  • Senior process engineer: Dh28,000 to Dh38,000 
  • Senior maintenance engineer: Dh22,000 to Dh34,000 
  • Field engineer: Dh6,500 to Dh7,500
  • Field supervisor: Dh9,000 to Dh12,000
  • Field operator: Dh5,000 to Dh7,000
FA CUP FINAL

Chelsea 1
Hazard (22' pen)

Manchester United 0

Man of the match: Eden Hazard (Chelsea)

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Power: 416hp at 7,000rpm

Torque: 410Nm at 3,500rpm

Transmission: 6-speed manual

Fuel consumption: 10.2 l/100km

Price: Dh375,000 

On sale: now 

Nepotism is the name of the game

Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad. 

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