BEIRUT // Israel's failure to make reparations for environmental damage inflicted on Lebanon and surrounding countries during the July 2006 war with Hizbollah will draw a rebuke next month from the UN secretary general, according to Lebanese and UN officials.
Ban Ki-moon, the UN secretary general, plans to ask the Israeli government to compensate Lebanon, neighbouring countries and the UN with as much as US$1 billion (Dh3.67bn) to assist with cleaning up damage to the eastern Mediterranean coastline from about 15,000 metric tonnes of fuel oil spilled into the sea when Israeli jets bombed a major electricity plant in Jiyeh, Lebanon.
Just days into the war between Hizbollah and Israel, IDF planes repeatedly bombed the oil storage tanks, which held more than 40,000 tonnes of fuel that fed Lebanon's largest electricity generating plant and were located just outside the southern city of Sidon.
In a visit immediately after a wave of bombings on July 15, a journalist witnessed huge amounts of flaming fuel oil melting the sandy earth around the plant into sheets of glass, as well as clear evidence the tanks were leaking oil into the ocean. The smoke from the fire could be seen from almost 100km away and oil soot covered much of the surrounding areas for months afterwards.
Within days of the attacks, a large oil slick formed off the coast of Lebanon, covering the shoreline between Sidon and Tripoli with a thick coat of oil that killed marine and wildlife, turned beaches into tar pits and, in one case cited by the World Bank, produced a 50,000 sq metre "carpet" of oil sunken below the sea just off the coast of Sidon.
While the majority of the damage was contained to Lebanon's beaches - which form a critical aspect of the country's tourist-based economy - there have been reports of oil washing ashore in both Syria and Turkey. As a result of the international nature of the damage, the UN has been unsuccessfully pressuring Israel to pay for a regional cleanup effort. A World Bank study commissioned by the UN and Lebanon determined the $1bn figure, although most experts consider that figure low.
An official at the environment ministry in Beirut said the Lebanese government did not know if Israel would pay the sum or if it would, in any case, cover the cost of the damage. Speaking on condition of anonymity, he declined to elaborate on the estimated economic or environmental cost of the oil spill.
The issue of compensation for such an act of war is extremely complicated under international law, according to diplomatic officials familiar with the situation in Beirut, with the UN having little authority to force Israel to make payments unless backed by a Security Council resolution. The United States would probably veto any strong resolution against Israel, according the Beirut diplomatic sources.
But political realities have not stopped Mr Ban from pushing the issue repeatedly in the past, and UN officials expect the secretary general to introduce a report on the environmental impact of the war, highlighting the damage done by the Jiyeh spill, sometime in October.
This is not the first time Mr Ban has pushed the issue on Israeli actions towards Lebanon in the 2006 war and the resulting environmental damage. In a 2007
report, he called upon the Israelis to honour international law on these issues, and noted that attempts by the United Nations to discuss the situation had gone ignored.
Mr Ban said at the time: "The government of Israel has yet to assume its responsibility" and noted that the UN Environment Programme had sent letters to Israel in Aug 2007 and June 2008.
"No response has been received to either of those communications. In the absence of an official response from Israel, it is difficult to report on progress," Mr Ban said at the time of the second letter.
The report asked Israel to address its responsibilities to the region as a whole and to take steps to mitigate the environmental effect of not just the Jiyeh bombings, but damage done throughout Lebanon and the region during to the 34-day war.
Israel, Mr Ban wrote, needs "to take the necessary actions towards assuming responsibility for prompt and adequate compensation to the government of
Lebanon".
According to an environmental expert working with Greenpeace, the damage done by the oil spill, although significant, could be managed with proper funding, although it will require a broader environmental effort than Lebanon is capable of.
"We did a study to estimate the damage and we found out that it's not as bad" as past spills in other countries, said Yassmean Helow, the marine campaign co-ordinator for Greenpeace Lebanon.
"The sea in Lebanon can recover from this particular damage," he said, but it is not the only problem environmentalists face.
"[We must] work with the [local population] to control other damage done to the marine life such as the garbage dumping on the sea shores, other damage is the oil dumping from [arriving or departing] ships."
Ahmad, 58, has been a fisherman in Sidon since the age of 10 and he claims to have never seen such small catches and poor quality fish in his lifetime.
"The amount of fish we are getting now is a quarter of what we used to get before the summer 2006 war, or before the fuel oil was spilled in the sea," he said.
"The oysters are not growing anymore and it became hard to find a lot of them. We find them dead and floating in the sea. Plus the taste is different now, and the size is different. [There are] no more healthy fish anymore. It's not fair for us and not fair for the fish in the sea."
mprothero@thenational.ae
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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.”
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Tell-tale signs of burnout
- loss of confidence and appetite
- irritability and emotional outbursts
- sadness
- persistent physical ailments such as headaches, frequent infections and fatigue
- substance abuse, such as smoking or drinking more
- impaired judgement
- excessive and continuous worrying
- irregular sleep patterns
Tips to help overcome burnout
Acknowledge how you are feeling by listening to your warning signs. Set boundaries and learn to say ‘no’
Do activities that you want to do as well as things you have to do
Undertake at least 30 minutes of exercise per day. It releases an abundance of feel-good hormones
Find your form of relaxation and make time for it each day e.g. soothing music, reading or mindful meditation
Sleep and wake at the same time every day, even if your sleep pattern was disrupted. Without enough sleep condition such as stress, anxiety and depression can thrive.
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