January 2024
Sustainable Insights
Taking giant steps, the UAE has put its best foot forward.
As the UAE bids adieu to 2023, the year heralded as the ‘Year of Sustainability,’ the country commemorates a plethora of achievements that have solidified its position as a global leader across diverse sectors. The 200 global leaders
convened on one stage during the two-week conference at Expo City Dubai in November 2023. However, mere words are insufficient for the formidable task of addressing climate change in our
UAE has demonstrated an unwavering commitment to sustainability and humanitarian efforts, setting a benchmark for international cooperation and development. I consider myself fortunate to have witnessed this historic moment in my city, where over
time. As we embark on our newsletter journey this year, I want to kick things off by sharing some key insights from the past year and its impact as we take efforts to sustain our efforts in combating climate change, humanitarian crises, and cultural confluence.
Climate Action and Sustainability
In an epoch-making event for environmental diplomacy, the 28th UN Climate Change Conference (COP28) concluded with the landmark ‘UAE Consensus’ on climate change. This consensus, endorsed by 197 countries and the European Union, underscored the UAE’s leadership in global climate discussions. Complementing this, the UAE launched ALTÉRRA, an unprecedented US$30 billion private investment initiative in climate action, with aspirations to mobilize an additional US$250 billion to fortify global climate change mitigation efforts. The expansion of the Mohammed bin Rashid Al Maktoum Solar Park, along with the inauguration of the 2GW Al Dhafra Solar PV facility, are testaments to the UAE’s dedication to renewable energy. Furthermore, the introduction of the UAE Net Zero 2050 Strategy amplifies the nation’s commitment to a sustainable future.
Humanitarian Outreach
The UAE’s humanitarian outreach has been nothing short of remarkable. Operation ‘Gallant Knight 2’ and the ‘Bridges of Giving’ campaign were launched to extend aid to those affected by the devastating earthquake in Turkey and Syria. Adding to this, ‘Gallant Knight 3’ aimed to support the Palestinian people in the Gaza Strip, including the establishment of a field hospital and desalination plants. Additionally, the UAE welcomed 1,000 Palestinian cancer patients for treatment and hosted 1,000 children needing medical care, alongside a campaign named ‘Tarahum – for Gaza’ and a US$20 million contribution to UNRWA. The nation also provided urgent aid and SAR teams to Libya following Storm Daniel and to Morocco after an earthquake.
Legislative Advances
The UAE also made significant strides in legislative development with the issuance of various federal laws that bolstered the country’s governance and societal well being. These include laws on sports, mental health, media
regulation, accountability, media council, organ donation, and transplantation. This legislative progress underscores the UAE’s commitment to enhancing the quality of life for its residents and ensuring comprehensive growth.
Economic Development and Innovation
The nation’s economic landscape is set to grow, with a projected 3.3% growth in 2024. This optimistic forecast is reinforced by the approval of a substantial budget plan for the 2024–2026 period. The UAE also saw the establishment of the Ministry of Investment and the launch of initiatives such
as the National Hydrogen Strategy, the Zero Government Bureaucracy programme, and the new Government Excellence Model (GEM), all of which are aimed at fostering innovation and attracting investments.
Cultural and Academic Achievements
Cultural enrichment and academic accomplishments have not been overlooked. The Arab Reading Challenge saw participation from millions of students, while significant archaeological discoveries were made in Al Ain and Al Sinniyah Island. Furthermore, the traditional dish ‘Harees’ was inscribed on UNESCO’s Intangible Cultural Heritage list, and the Al Shindagha Museum was inaugurated in Dubai, both of which celebrate the rich heritage of the UAE.
As the UAE concluded 2023, it stood tall on the world stage, having made significant strides in sustainability, humanitarian efforts, legislation, economic development, cultural preservation, and global leadership. The nation’s achievements this year lay a solid foundation for continued growth and innovation, setting a visionary course for the years to come.
carbon market participants into a global ecosystem for financial and environmental gains, with a focus on energy, water, and food. It serves as a distributed hub and connective tissue to link multiple international carbon exchanges and other buyside carbon emitters and custodians with supply-side carbon offset projects and ESG project owners globally to drive distribution. For the purpose of keeping carbon credit ledger data up to date, their software also communicates with reputable third-party registries.
and reforestation to deliver results that are in line with the UN Sustainable Development Goals. It specializes in giving clients advice on energy efficiency, clean energy options, tr
After a year of service, the e-ferry’s operators concluded that the system has a highly sustainable energy efficiency of 85%, almost twice that of diesel boats. With this background, the US$20 billion market expectation for electric watercraft seems more than reasonable. To support this industry, we are following a firm that has designed, and begun delivering, an electric-powered watercraft. Destined for the lucrative leisure market, this is a mere stepping stone to the huge water taxi market for which a design is already complete.
technology that detects one of the deadliest types of cancer and treats it without damaging healthy cells and tissues. Its electromagnetic stimulation, combined with a nanotechnology system, has demonstrated the preclinical treatment to be safe and effective. The medical device has been classified as class III to chronically treat and reduce cancer’s mass significantly from further development. The firm has started Phase I and seeking investments to support this phase. Based on Phase I results, which will be within 12-15 months, they plan an IPO for Phase II, the last one before the commercial launch in North America by 2024.
The firm’s platform matches investors with advanced learners by exploiting the fully scalable and high-return potential of non-loan Income Share Agreements (ISA’s). Investors in ISA’s may finely tune their investment criteria to match their corporate objectives, which may include CSR targets. Currently, the firm is proposing two types of investment opportunity: in the infinite possibilities of direct investments in ISA’s and, more conventionally, investments in shares (and, as the firm is designated by the French state as an innovative firm, offers the possibility of French residency/citizenship).
