Rarely brought to the forefront, water has always been, for all countries, at the centre of their main concerns.
Deaf conflicts between Egypt, Sudan and Ethiopia through which the Nile passes have been revealed without reaching significant exceedances. Just as the waters of the Euphrates have always suggested, arm wrestling and tensions between Iraq, Syria, Turkey and Israeli warmongering have hovered indefinitely on the subject because the Zionist state has made it a weapon of survival.
Water, the first source of life, has always been an element of discord between men, whether for the irrigation of small plots of land or to quench the thirst of entire territories.
The current exceptional global drought that, in the long term, puts on the agenda a fabulous problem already announcing the downgrading of the priority given to the different and fundamental sources of today’s energies.
As all emanate from this blue gold, the choice between gas, oil, wheat, and other resources that are objects of planetary tug-of-war and nerves will no longer be questioned. Water had never required idolatry, and its pressing solicitude is about to surpass that of oil.
It is no longer just a question of conforming to the usual vicissitudes of the agricultural world. But it is now a vital resource for humans.
The spread of land aridity and the relentless exceptional drought disintegrating the order of the hemispheres will create a massive breach for new world conflicts. That green Britain refrains from pampering the grass of its residences, about to lose their green lush or that farmers throughout Europe are forced to bow down to providence in the same way as the peasants of Niger is a warning shot to announce a new inevitable global disruption. It is doubtful that the powers will stand idly by in the face of thirst and the temptation to republish; by all means, the stranglehold on the water will become flush with the skin.
Abdulmajeed Albalawi, smart city programme director at Madinah Regional Authority, explains how the Saudi Arabian city is harnessing innovation to not only solve urban challenges, but promote Madinah’s cultural and historical heritage to citizens and visitors alike.
Madinah’s status as a holy city means a lot of the activity in the city is centred around the Holy Mosque
Madinah is primarily known as a holy city – where do your smart city ambitions intersect with that identity?
Abdulmajeed Albalawi: We’re mainly focused on solving city challenges and improving quality of life for our citizens. In that way, there’s no contradiction between Madinah as a holy city and Madinah as a smart city. We see our smart city strategy as an enabler to meet the needs of the city and its people, and to create positive experiences for those people.
Our aim is to become more holistic and to introduce more tools that will serve our citizens. That extends to the holy elements of the city and people’s lives and will make the city more suitable for those needs.
Our objectives are to improve city life for all citizens and create new jobs and economic opportunities – for example, around start-ups and technology. These are the driving forces behind the projects that Madinah has taken on so far, and as we see it, one influences and helps to solve the other – improving quality of life leads to better opportunities and a better urban economy.
As part of this work, we’ve designed an engine to capture the challenges the city faces so we can more easily connect together the issues and needs with solutions, with a view to meeting our main objectives.
When are some of the primary challenges that Madinah is facing?
AA: We have challenges split into two sections – business and operational. In terms of business challenges, we’re aiming to reduce the unemployment rate in the city through the projects we launch, and improve the digital skills of the workforce as part of that.
On the operational side, we’re looking at how we break down siloes between departments and promote a more open mindset. It’s a clear challenge for a lot of cities that needs to be solved, and for Madinah we want to overcome it to ensure that everyone can work towards our smart city objectives in the right way.
We see our smart city strategy as an enabler to meet the needs of the city and its people, and to create positive experiences for those people
There are other challenges out in the city that we’re facing, too. Madinah’s status as a holy city means a lot of the activity in the city is centred around the Holy Mosque, both for residents and visitors from around the world. As a result, there is a constant flow of people in and around the mosque which we need to manage to cope with crowding in the centre of the city. To deal with this challenge, we have launched an incubator in partnership with universities, experts and start-ups from around the world.
The incubator will be dedicated to solving further urban challenges in Madinah, too, identifying and defining the issues being faced and then engaging in a continuous problem-solving process with experts to overcome them. It’s a unique proposition for the city to work in this way and to have potential solutions being recommended on a continual basis from international experts.
What kind of technology-based solutions is Madinah looking to deploy to solve these challenges to become a smarter city?
AA: Our technology partners are crucial in achieving our goals as a smart city. We’re currently working with FIWARE and using their technology to create our own smart city platform. Madinah is the first middle eastern city to make use of FIWARE’s platform. We chose FIWARE’s open platform because our objectives call for us to view Madinah from a ‘city as a system’ perspective, and to solve problems based on what the system is telling us.
The smart city strategy seeks to improve city life for all citizens and create new jobs and economic opportunities
There’s no contradiction between Madinah as a holy city and Madinah as a smart city, said Abdulmajeed Albalawi
We’re now creating our city as a system via the FIWARE platform, meaning we’re connecting the dots between Madinah’s services, operations and departments, and beginning to break down siloes to identify the right solutions to issues at the right time. We’re collecting data from all over the city and connecting it together to enable data analytics, which will be really important in how we work out the kinds of solutions we require.
The main benefit of breaking down these operational siloes is being able to better define issues and challenges, as we have much more context on the city and its operations as a whole. It’s crucial for Madinah to be able to work in this way, and the challenge with crowds at the holy mosque illustrate why; we need to understand where the problem originates so we can solve it at the source.
Another benefit is that Madinah’s city departments have been able to collaborate more often and more easily. In turn, that has meant we have been able to push towards our primary objectives more collectively.
Outside establishing the smart city platform through FIWARE’s technology, we’re now looking into smart lighting. We see connected streetlighting as the beginning of a nervous system for the city, able to gather data about the city and monitor pedestrian and traffic flow, as well as air quality. We’re also exploring how we can use the same infrastructure to promote messages and information to citizens through digital signage. The streetlights and all associated monitoring will feed back into the smart city platform to give us a more holistic view of the city and how it is operating.
We have recently signed an agreement to build a full-scale digital twin of Madinah using satellite imagery, becoming the first city in the Middle East to do so
Coming back to the crowd challenges around the holy mosque and the central area of the city, we’re also developing a simulator to model those crowds. We’re currently designing the model and later will deploy sensors in the city to gather data to be able to monitor crowds and simulate scenarios. This won’t necessarily be a full digital twin of the mosque, but will be a mirror for the movement within and around it, including parts of the city infrastructure and operations that have an impact on movement and crowding.
We have recently signed an agreement to build a full-scale digital twin of Madinah using satellite imagery, becoming the first city in the Middle East to do so. We’ll use the 3D model digital twin for urban planning, traffic management, crowd management and urban analytics across the entire city, not just the centre and the holy mosque. We anticipate that we’ll have a digital twin of the city in the next three months.
How can innovation help to protect and promote Madinah’s history and culture?
AA: Through all of this smart city work, it’s important that we also look to promote the city’s culture and history, so we’re assessing how we can use technology to bring that history back to life. Here, Madinah is looking to use a combination of augmented reality and digital twin technology to illustrate our history in a more dynamic and modern way, both for the benefit of citizens and visitors.
I think innovation is all about how to open doors to experiences and the city’s unknowns. Technology is a great enabler for Madinah’s heritage and culture and can help to show everyone in the city how its identity has developed to become what it is now. We’re not designing the city around technology, we’re designing it around experiences, and how those experiences can create stories to be shared among people. Madinah’s culture flows through that process and innovation just helps us to draw it out.
The 3rd MENA Innovation and Technology Transfer Summit, as reported by Al Arabiya English, is on this fall in Sharjah, UAE.
A galaxy of business leaders, innovators and techies will take the centre stage at the 3rd Middle East Innovation and Technology Transfer (MITT) Summit, the region’s biggest specialized event in technology transfer and innovation, to be held at the SRTI Park, Sharjah, on October 13, 2022.
3rd MENA Innovation and Technology Transfer Summit to be held at SRTI Park in Sharjah
The 3rd Middle East Innovation and Technology Transfer (MITT) Summit, the region’s biggest specialized event in technology transfer and innovation, to be held at the SRTI Park, Sharjah. (Supplied)
Leading experts from the region and across the globe will discuss how to best shape the future of innovation while creating sustainable impact, in line with the UN’s Sustainable Development Goals, covering topic like Water Technology, Renewable Energy, Environmental Technology, Digitization, Industrial Design 4.0, and Mobility and Smart Cities.
The participants in the one-day summit will include R&D institutions, technology transfer experts, global investors, government and private sector representatives, entrepreneurs and academics and other stakeholders, presenting an immersive experience of knowledge sharing, business showcasing and networking in an intimate setting.
The summit comes at a time when the world is witnessing the fourth industrial revolution characterized by the penetration of emerging technology in a number of fields, including robotics, artificial intelligence, nanotechnology, biotechnology, the Internet of Things (IoT), 3D printing, and autonomous vehicles.
Hussain Al Mahmoudi, CEO of the Sharjah Research, Technology and Innovation Park, said: “The MITT Summit 2022 assumes huge significance as the Middle East has become the world’s fastest growing market in business and technology transfer. As proven globally, the knowledge and technology transfer model has been responsible for rapid advancements in every field. By bringing together global experts and highlighting the role of academic institutions in R&D, the MITT Summit serves as a perfect platform for ramping up technology transfer trends in the region.”
The summit will discuss patterns of technology transfer in the Middle East and North Africa region, existing opportunities as well as challenges, and tips on how to achieve set goals and use knowledge sharing to boost the region’s economic growth and long-term stability.
Technology transfer has been the main driver of global economic growth over the last 40 years. Companies are increasingly relying on open innovation to develop intellectual property (IP) more quickly and economically, to stay ahead of competition. Universities, research organisations, and SMEs play a crucial role in supplying intellectual property, and supporting research that will build the innovations of tomorrow.
Many countries around the world have passed their own national legislations and policies to spur innovation. The UAE issued its own National Innovation Strategy in 2014, which seeks to make the country the region’s top innovation hub by developing the right regulatory framework, infrastructure, and ensuring availability of investment.
In the summer of 2022, cascading climate risks and options for resilience and adaptation in the MENA are evident for all to witness. A write-up by Cascades.eu deserves to be looked at again, and every word in it is worth this trouble. It is a report on the southern face of the Mediterranean Sea and its northern facade.
This report assesses the current situation and future projections of possible and likely biophysical climate impacts in the MENA region, based on a literature review, news articles and CASCADES climate impact data analysis.
Cascading climate risks and options for resilience and adaptation in the Middle East and North Africa
Climate change is a shared challenge for the MENA and European regions
The societies of Europe and the Middle East and North Africa (MENA) are historically, socially and economically intertwined. Climate change presents a shared and urgent challenge. Stretching from Morocco in the west to Syria in the north, Iran in the east and Yemen in the south, the MENA region covered by this report comprises 19 countries and is home to an estimated 472 million people, with a fast-growing young population. Conditions are diverse with some nations registering among the highest national income per capita in the world (e.g. Qatar, Kuwait, UAE) while others are low-income, conflict-affected societies, where human displacement and extreme poverty are rife (e.g. parts of Syria, Iraq, Yemen, the Occupied Palestinian Territories and Libya).
The MENA region is exposed to physical climate impacts that threaten human life and political stability on several fronts. Water and agricultural production are particularly sensitive to the extremes of global warming, given the region’s already arid and semi-arid climates. Sea level rise threatens rapidly expanding urban and industrial coastlines over the next century and most cities are ill-prepared for the ravages of cyclones, sand storms and flooding. Humidity may become the most serious challenge to human life, especially for coastal cities.
The Middle East and North Africa (MENA) region covered by this report
Climate change is already interacting with more immediate threats from armed conflict, environmental degradation, corruption and social and gender inequalities. Such compound conditions have worsened the humanitarian fallout from flooding in war-torn Yemen and facilitated extremist militant recruitment in drought-affected northern Iraq. Across the region, the role of long-term environmental mismanagement in worsening the impacts of climate change is brutally clear.
How communities and governments respond to evolving climatic conditions will affect the severity of effects that cross borders and continents, ‘cascading’ into European societies. As witnessed with forest fires in Lebanon in 2019 and recent water shortages in Iraq, Iran and Algeria, government failure to deal with environmental stress can trigger violent, potentially revolutionary, protests. Figure 1 illustrates variation in the capacity to cope with and adapt to climate threats. While all countries are challenged by their levels of fresh water relative to population and none are ranked as politically ‘sustainable’, some have a larger economic cushion to enable adaptation than others. The countries towards the right of the figure, affected by war and economic crisis, are the most vulnerable.
At the same time, climate change policies and rapidly changing costs of technology will alter oil- and gas-dominated trade relationships with MENA countries. Europe’s demand for petroleum imports is set to decline and new regulations for green growth and alignment with the Paris Agreement goals will affect imports and foreign investment. As Figure 2 shows, most countries would not be able to sustain their current economies for long with oil prices below
$50/barrel. These present both challenges and opportunities for MENA countries and several are pursuing long-term visions for economic diversification, the success of which will depend on new investment and trade relations.
The MENA region already imports more than 50 per cent of its food and will require increasing foreign exchange to meet growing demand. Meanwhile, sensitivity to food price rises due to, for example, droughts in other parts of the world, is high.
Figure 1. MENA country variation in renewable freshwater availability, socio-political stability and spending capacity
Figure 2. Oil and gas dependence in selected MENA exporter countries
Climate resilience strategies, green economic diversification and investment in long-term adaptation are critical to achieving sustainable peace and prosperity in the region. The European Union (EU) and European countries can harness existing relationships, investments and capacities to contribute to this effort. These range from the EU’s evolving neighbourhood partnerships, humanitarian assistance and development bank lending to traditional bilateral diplomacy, trade agreements and engagement with UN bodies. The EU is already extending the principles of its Green Deal to partnerships in its Southern Neighbourhood with reinvigorated commitment to green transition and climate resilience through the Agenda for the Mediterranean. With a fast-changing combination of conditions intersecting with climate change, EU institutions and businesses will need to both learn lessons from the past and anticipate new realities on the ground.
The purpose of this report
This report assesses the current situation and future projections of possible and likely biophysical climate impacts in the MENA region, based on a literature review, news articles and CASCADES climate impact data analysis.
The authors adopt a water–food–energy nexus perspective, given that this resonates with environmental interests in the region. However, this concept remains open to new understandings that put a greater emphasis on ecosystems and well-being – for example, air quality, biodiversity and nutrition. Irrigation for crops and agricultural processing, water for energy, energy for potable water as well as oil and gas revenues to pay for food imports are some of the dependencies that climate change is challenging in the region. These are also some critical areas offering opportunities for resilience-building.
Scenarios illustrate ways in which climate impacts in the MENA could compound other stresses and cascade, with effects that cross borders and affect Europe and European interests. Figure 3 shows a generic example of cascading risks. We highlight five subregions: Iraq (with relevance for Iran and Syria), North Africa, the Jordan Valley, the Nile and the Gulf Cooperation Council countries. Sister CASCADES studies on the Euphrates–Tigris Basin and North Africa, which are referred to in this study, provide more insight. The purpose of the scenarios is to enhance understanding of how resilience and adaptive actions might help to mitigate risks and limit the scope of harm that climate impacts could set in motion.
Figure 3. An example of climate-related risks in the MENA that can cascade across borders
Research benefited greatly from a series of interviews and workshops with regional experts. There are significant geographical, climatic and political differences between the subregions and within several countries. As such, this can only be a broad-brush introduction to the changes taking place and their interactions with ongoing resource and societal issues. The views and opinions of experts in the region have shaped the report’s discussion of vulnerability and resilience factors, the scenarios for the future and the recommendations.
Climate impacts are damaging human security in the MENA, yet resilience to climate change has been low on most public and political agendas. Climate change, particularly in the form of drought, flooding and storms, is already threatening lives and economies. The water and agricultural crises in Iraq are a case in point. Authorities and people in the region have generally not considered climate change and environmental health urgent issues, given more immediate threats of war, poverty, unemployment and human rights abuses. However, this is changing. In Oman, for example, cyclone devastation has spurred greater attention to disaster risk reduction (DRR) preparation for climate change. Civil society, particularly in parts of the Levant and North Africa, is increasingly vocal on environmental issues, often tackling them through a heritage conservation, local economy or social justice lens.
The two upcoming climate summits (COP27 and COP28) to be hosted by Egypt and the UAE, and the Saudi-led Middle East Green Initiative provide platforms for stronger cross-regional coordination and international partnerships.
Over the next 30 years, current water use, agricultural and building practices will become untenable; beyond 2050, liveability in the MENA region will be determined significantly by our global emissions trajectory. Irrespective of mitigation, cumulative emissions mean that the current warming trajectory will continue until at least around mid-century. While there are fewer long-term projections focusing on a 1.5°C scenario, this would suggest a far less damaging prospect for MENA countries than 2°C+, given existing aridity and coastal exposure. The extent of coastal land mass loss through sea level rise in this century will largely be determined by these trends.
Local and regional treatment of the environment is integral to climate risks. In all cases, local human developments and practices such as the density of population, overgrazing and monocropping, urban development on floodplains, damming of rivers, land reclamation and destruction of natural barriers such as mangroves and deforestation affect the vulnerability and severity of impact of climate-related events. At the same time, governance factors such as lack of transboundary water management systems, insufficient rule of law and military occupation affect a society’s ability to take resilience and adaptation measures.
Without effective measures, climate impacts will compound local vulnerabilities and have severe consequences for human lives, livelihoods, economies and security in the region. For example, in the absence of radical changes in water management and food production methods, competition among water users will grow and food security will diminish. While poorer and conflict-affected countries remain the most vulnerable, richer ones also face high risks.
Transition risks will be at least as important as physical climate risks for economies depending on oil and gas export revenues. The sensitivities of failing public services including water provision and electricity, combined with higher food prices and declining ability to pay for imports, could lead to political instability (as shown in Figure 3).
Cascading risk scenarios show how climate impacts in the MENA could affect EU interests, including the prospects for peace, development and business investments, expatriate workers, migration flows, human rights and the demand for international humanitarian aid. They also suggest how things might play out differently depending on national, regional and international factors, which will determine the ability to cope with and adapt to climate stresses. Three broad medium-term meta scenarios – stagnation, fragmentation and cooperation – suggest different outcomes (see Figure 4). The actions of major powers, including the EU, will strongly influence how these factors evolve. More concerted, thoughtful diplomacy is essential to reduce conflict and to address shared environmental issues.
Figure 4. Meta scenarios for 2025–2035 which would affect countries’ ability to respond and adapt to climate change
In early 2022, the Sixth Assessment Report (AR6) of the Intergovernmental Panel on Climate Change (IPCC) made clear that the window of opportunity for climate resilient development is closing and will require transformative adaptation measures. This report identifies urgent priorities for the MENA region in the areas of improving water management, regeneration of landscapes and infrastructure resilience. National stakeholders and their international partners cannot address these effectively without acting within the wider political and economic context to strengthen sustainable peace and good governance.
Firstly, climate resilience and adaptation projects must include co-benefits that meet immediate country needs and align with national aspirations.
Secondly, given the transboundary nature of many of the risks we discuss above, planners should consider how measures might promote greater cooperation. This could be through knowledge sharing and technical exchanges, infrastructure that benefits more than one country, cross-border community land restoration and joint early warning systems and DRR cooperation.
Thirdly, deepening engagement with local cultural and religious understandings will be important in fostering stronger, long-term public awareness and more equal partnerships for environmental resilience.
Exploring future scenarios can improve understanding of how climate impacts might interact with societal dynamics, and suggest how investments might foster better conditions for long-term adaptation. For example, a particular challenge noted by regional experts was the lack of enablement at municipal, civil society and micro- to-medium-sized enterprise levels. The immense human capacity of the region, fully inclusive of women and youth, will be essential to address climate and environmental challenges nimbly, and with greater co-benefits for societal well-being.
The report makes six recommendations for EU approaches in the region. The EU should:
Take advantage of its role as a major trading partner of the region to push for regional peace and cooperation through alignment with its European Green Deal. The EU’s Agenda for the Mediterranean (AfM) , launched in 2021, aims to do just this. As cooperation and investment packages develop, careful thought should be given to creating policy coherence across the five key policy areas, and with member states.¹
Provide climate change modelling tools to support national and local scenario building and assist with monitoring and early warning systems for climate-related hazards. Emerging and existing programmes such as Copernicus² and I-CISK³ could be usefully extended or deployed through partnerships to improve local knowledge production.
Explore ways in which remedial and post-conflict rehabilitation work can help address humanitarian needs while fostering long-term environmental resilience. This could include assessing and supporting local action to remediate conflict-affected environments and encourage green infrastructure.
Build climate resilience in cities and subnational areas of the MENA region by developing technical skills to address climate-related issues and manage the water–energy–food nexus. This would build on the ‘human-centred’ approach of the AfM, targeting solutions-oriented capacity building at the municipal and community levels.
Pay close attention to the effectiveness of mechanisms to scale up sustainable finance and disburse funds, taking into account the respective capabilities of centralized bureaucracies versus local agencies and other actors in the area concerned. Greater inclusion of civil society, women, youth and vulnerable groups in consultation and decision- making can help improve accountability.
Use financial instruments for climate resilience and adaptation to empower local actors and build better national to subnational linkages. EU partnerships could, for example, help to scale up projects initiated by civil society organizations that have proven successful by linking them up with the relevant government authorities and making follow-up funding conditional on co-created plans for implementation.
These are: 1) Human development, good governance and the rule of law; 2) Strengthen resilience, build prosperity and seize the digital transition; 3) Peace and security; 4) Migration and mobility; and 5) Green transition: climate resilience, energy, and environment.
Copernicus is the European Union’s Earth Observation Programme.
Innovating Climate services through Integrating Scientific and local Knowledge (I-CISK) is an EU-funded project running from 2021 to 2025.
Investments adhering to environmental, social and governance (ESG) criteria are capturing increasing interest in the Middle East. A 2020 survey carried out by multinational bank HSBC revealed that 41% of regional investors wished to adopt an effective ESG investment policy. A May 2022 PWC report confirmed this trend, adding that Middle Eastern companies’ top three sustainability priorities are diversity and equality, climate change and safety.
The region has long lagged in ESG investments. For example, in the Gulf Cooperation Council (GCC) countries, an economic model highly reliant on non-renewable energy exports has limited interest in ESG practices, especially environmental ones. However, in recent years, Saudi Arabia and the United Arab Emirates have been leading the way in matters of sustainable development, devising national plans to overcome hydrocarbons dependence, increase the share of renewable resources in their energy mix and boost the private sector.
Alena Dique is the founder of ESG Insights Middle East, a regional ESG databank. She told Al-Monitor, “ESG investments in the Middle East have boomed since the pandemic, and this trend will probably remain popular until 2030. Social investing is largely pushed forward by investors who want long-lasting, sustainable contributions left behind as their legacy. At the same time, environmental investments present a huge opportunity for the Middle East, especially with the region hosting both COP27 and 28. However, there is still a long way to go regarding the governance aspect, even though the Middle East is no stranger to responsible investing, ethical practices or sharia-compliant strategies.”
In addition to the ethical aspects, many Middle Eastern investors consider sustainable assets attractive from an economic perspective. A recent GIB asset management report highlights that ESG-compliant investments generally have higher long-term profits. “This is difficult to evaluate as ESG is both qualitative and quantitative. We need to look at how investors choose to assess ESG risk and what areas they look to emphasize. ESG rating might not evaluate all companies the same way or give a true depiction of return on investment all the time. Still, there is no denying that sustainability evaluation exists and can impact the flow of investments,” Dique added.
The increasing interest in ESGs — both at the private and the government levels — has also introduced changes in Middle Eastern business practices. “In the region, ESG strategy has been embraced as a mechanism to drive companies to demonstrate their sustainability credentials alongside their global peers,” said Dique. “New trends, such as creating ESG positions or adopting green policies, show a growing interest in sustainability issues. Regional governments are hands-on with the transition of energy and natural resources, human capital and economic development and now have taken ESG on board too. Change is challenging, but transition takes time — and that can be monitored and measured.”
The Dubai Investment Fund, one of the largest independent investment funds worldwide in terms of assets under management, recently announced the creation of an ESG investment department aiming to track the local and global market and discover the most profitable sustainability assets. ESGs are also gaining momentum in other corners of the GCC, such as Kuwait. In recent months, the National Bank of Kuwait adopted a sustainable financing framework to support the national plan to tackle climate change and integrate ESG standards in all the bank’s operations.
Despite the growing enthusiasm, finance experts argue that ESG funds worldwide have a poor track record in financial performance. Corporate executives should naturally pay attention to employee, community and environmental concerns, but setting ESG targets on this basis may distort the decision-making process and force managers to focus on sustainability issues beyond their relevance for long-term shareholders’ interests.
Even from a regional perspective, some investors are still skeptical about the potential of ESGs. “The Gulf was rather late adopting ESG initiatives, which isn’t necessarily bad, as it is a rather ambiguous and subjective term. The current energy crisis demonstrates what can happen when an initially reasonable idea is taken too far. In this case, the overall shortfall in hydrocarbon capital expenditure can become counterproductive in the long run,” said Ali Al-Salim, Co-Founder at Arkan Partners, an independent investment consulting firm based in the Gulf.
Experts and entrepreneurs also criticize ESG investment because of the lack of clear measures to define what is sustainable and what is not. They claim that ESGs have an ambiguous — and problematic — definition leading to various regulatory approaches in different jurisdictions, which means that there is no standard legal framework to deal with them. “A dose of common sense and a holistic approach to ESG investing — thinking about unintended consequences — is critical for regional investors to consider,” Al-Salim concluded.
Originally posted on CONAN Daily: Ons Jabeur (أُنْس جابر) is a Tunisian professional tennis player born in Ksar Hellal, Monastir Governorate, Tunisia to Samira Jabeur and Ridha Jabeur. Ons has two older brothers namely Hatem Jabeur and Marwen Jabeur and an older sister named Yasmine Jabeur. Ons is fluent in Arabic, English and French and…
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