With the Cop28 climate conference beginning in Dubai on Thursday, the UN's sustainable development goals (SDGs) have become a global focus.
The 17 interlinked objectives are designed to chart a course for a more resilient, peaceful and inclusive future.
Adopted by all 193 UN member states in 2015 as part of the 2030 Agenda, this comprehensive plan is humanity’s clearest blueprint for its highest aspirations.
Promises in peril
The current status of these SDGs, however, is less than promising.
Only 15 per cent of the SDGs are on track to be achieved by 2030, according to the 2023 SDG Report.
Nearly half, or 48 per cent, show moderate or severe deviation from the desired trajectory, while more than one third, or 37 per cent, have experienced no progress or have regressed below the 2015 baseline.
Factors such as a weak global economy, the impact of the climate crisis and lingering effects of the Covid-19 pandemic have impeded progress towards these goals.
To reverse this trend and fulfil these promises, our actions must align with the scope of these challenges.
Unlocking potential
In a world where financial decisions reverberate through every aspect of our lives, the transformative power of financial literacy cannot be overstated.
A scalable initiative that empowers people with the financial literacy skills they need to make better financial decisions has the potential to address five SDGs.
SDGs 3, 4, 5, 10 and 17 form the nexus of positive change and it’s through the lens of financial literacy that we can truly unlock their potential.
Goal 3: Good health and well-being
The impact of financial stress on health – both physical and mental – is well-known and documented.
Financial stress has been linked to a range of mental health issues, including anxiety and depression.
Numerous studies have established a direct correlation between financial stress and adverse physical health outcomes, ranging from cardiovascular issues to gastrointestinal problems.
The physiological response to financial stress, characterised by elevated levels of stress hormones like cortisol, can contribute to inflammation, weakened immune function and disruptions in sleep patterns.
Financial literacy enables individuals to manage their money better and make better financial decisions. It helps them avoid major financial mistakes and feel more secure and confident about their future.
This, in turn, leads to decreased financial stress and better physical and mental health outcomes, thus directly addressing SDG 3.
Goal 4: Quality education
Quality education continues to be an elusive goal for many, with a lack of effective learning outcomes, scholarships and qualified teachers rating high on the problem scale.
A well-designed financial literacy initiative has the ability to address this SDG head on, particularly if it focuses on a number of key aspects.
This should be taught by qualified teachers who are trained to deliver high-impact programmes and offered free of charge to students by securing sponsorships with banks and other corporate institutions.
Goal 5: Gender equality
Despite significant strides, gender disparities persist globally, particularly in economic empowerment.
A financial literacy initiative plays an important role in dismantling barriers to gender equality.
By providing women with financial knowledge and skills, we empower them to make independent financial decisions, navigate economic systems and participate fully in economic activities.
Financially literate women are better positioned to break free from economic dependence and challenge gender stereotypes.
Moreover, financial literacy programmes can address the unique financial challenges that women face, such as the gender pay gap and access to financial services.
Goal 10: Reduced inequalities
The rise in economic inequalities poses a significant challenge to global development.
The perpetuation of economic inequality often results in a cycle where certain groups face systemic barriers to wealth accumulation, hindering their ability to break free from the constraints of poverty.
Financial literacy emerges as a powerful tool for reducing inequalities by providing individuals from all backgrounds with the knowledge and skills to navigate financial systems.
Financially literate individuals can make informed decisions about budgeting, investing and managing debt, contributing to improved financial well-being.
Financial literacy is particularly impactful in marginalised communities, where it can serve as a means of empowerment, breaking cycles of poverty and fostering economic resilience.
By promoting financial education as a tool for social and economic inclusion, SDG 10 can be advanced, leading to a more equitable global society.
Goal 17: Partnership for goals
Increasing co-operation is seen as vital to achieving each of the 17 SDGs.
A financial literacy initiative that’s pinned on the collaborative efforts of various stakeholders like educational institutions, financial institutions, government bodies and other corporate entities perfectly aligns with the spirit of SDG 17.
It leverages the expertise and resources of various stakeholders and increases the sustainability of the initiative.
Marilyn Pinto is the founder of KFI Global
OTHER IPL BOWLING RECORDS
Best bowling figures: 6-14 – Sohail Tanvir (for Rajasthan Royals against Chennai Super Kings in 2008)
Best average: 16.36 – Andrew Tye
Best economy rate: 6.53 – Sunil Narine
Best strike-rate: 12.83 – Andrew Tye
Best strike-rate in an innings: 1.50 – Suresh Raina (for Chennai Super Kings against Rajasthan Royals in 2011)
Most runs conceded in an innings: 70 – Basil Thampi (for Sunrisers Hyderabad against Royal Challengers Bangalore in 2018)
Most hat-tricks: 3 – Amit Mishra
Most dot-balls: 1,128 – Harbhajan Singh
Most maiden overs bowled: 14 – Praveen Kumar
Most four-wicket hauls: 6 – Sunil Narine
What are NFTs?
Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.
You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”
However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.
This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”
This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.
UAE currency: the story behind the money in your pockets
Killing of Qassem Suleimani
UAE currency: the story behind the money in your pockets
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What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
UAE currency: the story behind the money in your pockets
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
21 Lessons for the 21st Century
Yuval Noah Harari, Jonathan Cape
Killing of Qassem Suleimani
SPECS
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The specs
Engine: 2.0-litre 4-cylinder turbo
Power: 258hp from 5,000-6,500rpm
Torque: 400Nm from 1,550-4,000rpm
Transmission: Eight-speed auto
Fuel consumption: 6.1L/100km
Price: from Dh362,500
On sale: now
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Game Changer
Director: Shankar
Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
Zayed Sustainability Prize
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
hall of shame
SUNDERLAND 2002-03
No one has ended a Premier League season quite like Sunderland. They lost each of their final 15 games, taking no points after January. They ended up with 19 in total, sacking managers Peter Reid and Howard Wilkinson and losing 3-1 to Charlton when they scored three own goals in eight minutes.
SUNDERLAND 2005-06
Until Derby came along, Sunderland’s total of 15 points was the Premier League’s record low. They made it until May and their final home game before winning at the Stadium of Light while they lost a joint record 29 of their 38 league games.
HUDDERSFIELD 2018-19
Joined Derby as the only team to be relegated in March. No striker scored until January, while only two players got more assists than goalkeeper Jonas Lossl. The mid-season appointment Jan Siewert was to end his time as Huddersfield manager with a 5.3 per cent win rate.
ASTON VILLA 2015-16
Perhaps the most inexplicably bad season, considering they signed Idrissa Gueye and Adama Traore and still only got 17 points. Villa won their first league game, but none of the next 19. They ended an abominable campaign by taking one point from the last 39 available.
FULHAM 2018-19
Terrible in different ways. Fulham’s total of 26 points is not among the lowest ever but they contrived to get relegated after spending over £100 million (Dh457m) in the transfer market. Much of it went on defenders but they only kept two clean sheets in their first 33 games.
LA LIGA: Sporting Gijon, 13 points in 1997-98.
BUNDESLIGA: Tasmania Berlin, 10 points in 1965-66
Most sought after workplace benefits in the UAE
- Flexible work arrangements
- Pension support
- Mental well-being assistance
- Insurance coverage for optical, dental, alternative medicine, cancer screening
- Financial well-being incentives
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
A timeline of the Historical Dictionary of the Arabic Language
- 2018: Formal work begins
- November 2021: First 17 volumes launched
- November 2022: Additional 19 volumes released
- October 2023: Another 31 volumes released
- November 2024: All 127 volumes completed
SPECS
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F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
ONCE UPON A TIME IN GAZA
Starring: Nader Abd Alhay, Majd Eid, Ramzi Maqdisi
Directors: Tarzan and Arab Nasser
Rating: 4.5/5
Our Time Has Come
Alyssa Ayres, Oxford University Press
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Killing of Qassem Suleimani
Killing of Qassem Suleimani
