Prospects for climate accord look bleak



With talks at the Copenhagen climate conference only two days away from their conclusion, the chances that a meaningful agreement can be forged in the remaining hours do not seem great. Indeed, in recent days divisions, particularly between rich and poor countries, have widened. "Much of the tension is focused on whether to keep alive the Kyoto protocol - the existing international climate agreement struck in 1997 - as part of a new deal or replace it with an entirely new treaty," The Financial Times reported. "Developing countries, including China, India and Brazil, want to keep the Kyoto process because it commits developed countries to legally binding emissions cuts without making the same requirements of poorer nations. "But developed countries, led by the US, want a new framework that binds China and other emerging economies to targets. "Victor Fodeke, head of the Nigerian delegation, said the talks would be headed for 'catastrophe' if developed countries tried to abandon the Kyoto process altogether. "[Germany's chancellor, Angela] Merkel said that all sides - including the US and China - must make concessions if a deal was to be reached." In The Guardian, Duncan Clark wrote: "Currently, no deal being seriously considered by the major players in Copenhagen is ambitious enough to give the world an odds-on chance of limiting the temperature rise to 2C above pre-industrial levels - the widely accepted target for avoiding irreversible climate change. "This fact is underlined by a new interactive tool on environmentguardian.co.uk that visualises recent climate scenarios from the Met Office [Britain's meteorological service]. Of all the scenarios, the only one in which the world is more likely than not to avoid a 2C rise is the most ambitious: an emissions peak in 2016 followed by an almost unimaginably ambitious global cut of 4 per cent or 5 per cent per year. And even that scenario could plausibly push temperatures above 2.5C, depending on exactly how the carbon cycle and atmosphere respond to the build-up of greenhouse gases. Besides, it's also far bolder than anything Copenhagen is expected to deliver. "A more realistic best-case outcome of Copenhagen would be an emissions peak in 2020 followed by a cut of 1-2 per cent per year. In this scenario, according to the Met Office figures, the planet would warm by 2.1C to 3.7C this century, with the rise continuing even higher after 2100. "These depressing numbers chime with other assessments, including two websites that tally up the evolving emissions commitments from the countries negotiating in Copenhagen and convert them into future temperature rises. Climate Action Tracker, created by groups including the Potsdam Institute for Climate Impact Research, announced on Monday that even the boldest reductions currently being discussed in Copenhagen go only halfway towards meeting the 2C target. As the national and regional commitments currently stand, we should prepare for a 3.5C rise by 2100, according to the team behind the site." Meanwhile, ice accumulations in both the northern and southern hemespheres are melting rapidly. The Arctic Monitoring and Assessment Programme has issued a new report synthesising the latest scientific findings on the Greenland ice sheet, the Cooperative Institute for Research in Environmental Sciences said. One of the report's most alarming findings is that the discharge of icebergs as a whole has increased by 30 per cent over the past decade. "We know that the Arctic has warmed enormously over the past 50 years and that the temperatures over Greenland have increased by more than twice the global average. Despite these observations, it is deeply surprising and worrying to see the pace of the changes in the Greenland ice sheet", said the report's lead author, Professor Dorthe Dahl-Jensen, from the University of Copenhagen. "Greenland's ice sheet is the single largest body of freshwater ice in the northern hemisphere. It contains around 3 million km3 of ice and, if it were to melt completely, this would cause global sea level to rise by roughly 7 metres. We know that Intergovernmental Panel on Climate Change predicts that by 2100, annual temperatures over the Arctic will be 3 to 8C higher than the average observed during the 1951-1980 period. But already now we are seeing how the areas experiencing surface melt are expanding northwards and that the periods of melt in southern Greenland are getting longer. The development in the last decade has taken scientists by surprise and it is still uncertain how the ice will react to future climate change. Therefore, it is essential to intensify the ice sheet research", said Dr Dahl-Jensen. The New York Times reported on glacial melting in the Andes and its impact on a city close to La Paz, the capital of Bolivia. "The glaciers that have long provided water and electricity to this part of Bolivia are melting and disappearing, victims of global warming, most scientists say. "If the water problems are not solved, El Alto, a poor sister city of La Paz, could perhaps be the first large urban casualty of climate change. A World Bank report concluded last year that climate change would eliminate many glaciers in the Andes within 20 years, threatening the existence of nearly 100 million people. "For the nearly 200 nations trying to hammer out an international climate accord in Copenhagen, the question of how to address the needs of dozens of countries like Bolivia is a central focus of the negotiations and a major obstacle to a treaty. "World leaders have long agreed that rich nations must provide money and technology to help developing nations adapt to problems that, to a large extent, have been created by smokestacks and tailpipes far away. But the specifics of that transfer - which countries will pay, how much and for what kinds of projects - remain contentious. "Last week, a group of the poorest small countries debated whether they would stage a walk-out in Copenhagen if rich nations failed to provide enough money. Todd Stern, the lead negotiator for the United States, while reiterating that the United States would help pay, bridled at the idea that the money was a 'climate debt'. And on Friday, the European Union made an initial pledge to pay $3.5 billion annually for three years to help poor countries cope - though economists project the total cost to be $100 billion or more." The Obama administration has asked the US Congress for $1.2 billion to go toward such a purpose, but Congress has yet to take action on the request.

pwoodward@thenational.ae

How to get exposure to gold

Although you can buy gold easily on the Dubai markets, the problem with buying physical bars, coins or jewellery is that you then have storage, security and insurance issues.

A far easier option is to invest in a low-cost exchange traded fund (ETF) that invests in the precious metal instead, for example, ETFS Physical Gold (PHAU) and iShares Physical Gold (SGLN) both track physical gold. The VanEck Vectors Gold Miners ETF invests directly in mining companies.

Alternatively, BlackRock Gold & General seeks to achieve long-term capital growth primarily through an actively managed portfolio of gold mining, commodity and precious-metal related shares. Its largest portfolio holdings include gold miners Newcrest Mining, Barrick Gold Corp, Agnico Eagle Mines and the NewMont Goldcorp.

Brave investors could take on the added risk of buying individual gold mining stocks, many of which have performed wonderfully well lately.

London-listed Centamin is up more than 70 per cent in just three months, although in a sign of its volatility, it is down 5 per cent on two years ago. Trans-Siberian Gold, listed on London's alternative investment market (AIM) for small stocks, has seen its share price almost quadruple from 34p to 124p over the same period, but do not assume this kind of runaway growth can continue for long

However, buying individual equities like these is highly risky, as their share prices can crash just as quickly, which isn't what what you want from a supposedly safe haven.

Company%20Profile
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The specs

  Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now

WWE Evolution results
  • Trish Stratus and Lita beat Alicia Fox and Mickie James in a tag match
  • Nia Jax won a battle royal, eliminating Ember Moon last to win
  • Toni Storm beat Io Shirai to win the Mae Young Classic
  • Natalya, Sasha Banks and Bayley beat The Riott Squad in a six-woman tag match​​​​​​​
  • Shayna Baszler won the NXT Women’s title by defeating Kairi Sane
  • Becky Lynch retained the SmackDown Women’s Championship against Charlotte Flair in a Last Woman Standing match
  • Ronda Rousey retained the Raw Women’s title by beating Nikki Bella
APPLE IPAD MINI (A17 PRO)

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Storage: 128/256/512GB

Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4

Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps

Biometrics: Touch ID, Face ID

Colours: Blue, purple, space grey, starlight

In the box: iPad mini, USB-C cable, 20W USB-C power adapter

Price: From Dh2,099

The specs

Engine: 1.5-litre 4-cylinder petrol

Power: 154bhp

Torque: 250Nm

Transmission: 7-speed automatic with 8-speed sports option 

Price: From Dh79,600

On sale: Now

The specs: 2018 Jeep Grand Cherokee Trackhawk


Price, base: Dh399,999
Engine: Supercharged 6.2-litre V8
Gearbox: Eight-speed automatic
Power: 707hp @ 6,000rpm
Torque: 875Nm @ 4,800rpm
Fuel economy, combined: 16.8L / 100km (estimate)

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How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

Company%20Profile
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COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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Day 1 results:

Open Men (bonus points in brackets)
New Zealand 125 (1) beat UAE 111 (3)
India 111 (4) beat Singapore 75 (0)
South Africa 66 (2) beat Sri Lanka 57 (2)
Australia 126 (4) beat Malaysia -16 (0)

Open Women
New Zealand 64 (2) beat South Africa 57 (2)
England 69 (3) beat UAE 63 (1)
Australia 124 (4) beat UAE 23 (0)
New Zealand 74 (2) beat England 55 (2)

COMPANY PROFILE

Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed 

COMPANY%20PROFILE%20
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Thank You for Banking with Us

Director: Laila Abbas

Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum

Rating: 4/5

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Why does a queen bee feast only on royal jelly?

Some facts about bees:

The queen bee eats only royal jelly, an extraordinary food created by worker bees so she lives much longer

The life cycle of a worker bee is from 40-60 days

A queen bee lives for 3-5 years

This allows her to lay millions of eggs and allows the continuity of the bee colony

About 20,000 honey bees and one queen populate each hive

Honey is packed with vital vitamins, minerals, enzymes, water and anti-oxidants.

Apart from honey, five other products are royal jelly, the special food bees feed their queen 

Pollen is their protein source, a super food that is nutritious, rich in amino acids

Beewax is used to construct the combs. Due to its anti-fungal, anti-bacterial elements, it is used in skin treatments

Propolis, a resin-like material produced by bees is used to make hives. It has natural antibiotic qualities so works to sterilize hive,  protects from disease, keeps their home free from germs. Also used to treat sores, infection, warts

Bee venom is used by bees to protect themselves. Has anti-inflammatory properties, sometimes used to relieve conditions such as rheumatoid arthritis, nerve and muscle pain

Honey, royal jelly, pollen have health enhancing qualities

The other three products are used for therapeutic purposes

Is beekeeping dangerous?

As long as you deal with bees gently, you will be safe, says Mohammed Al Najeh, who has worked with bees since he was a boy.

“The biggest mistake people make is they panic when they see a bee. They are small but smart creatures. If you move your hand quickly to hit the bees, this is an aggressive action and bees will defend themselves. They can sense the adrenalin in our body. But if we are calm, they are move away.”

 

 

COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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


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