Category: Trading

DUBAI: The COP28 Presidency delivered a lasting legacy for youth inclusion in climate decision-making, with the announcement that the role of the Presidency Youth Climate Champion (YCC) will be carried forward to future COPs.

Parties have agreed in the official COP28 negotiated text to institutionalise the role of the YCC within the United Nations Framework Convention on Climate Change (UNFCCC) process. This mandates all future COP Presidencies to facilitate the meaningful participation and representation of youth in future COPs.

COP28 was the first COP to appoint an official YCC, Shamma bint Suhail Faris Al Mazrouei, who was previously the youngest minister in the world at the age of 22. She now serves as the UAE’s Minister of Community Development.

‘The UAE has become the birthplace of the role of the first ever COP Youth Climate Champion, carrying forward the nation’s rich legacy in empowering youth to a global level,’ said Al Mazrouei. ‘COP28 has been a groundbreaking COP for youth inclusion, with unpr
ecedented initiatives that have put children and young people are the heart of the climate action process. We have delivered transformative change that will stand as a lasting legacy for future COPs.’

Around one billion children worldwide are currently at extreme high risk from the impacts of climate change. While many young people are already leading climate action across the globe, they still have limited input into climate policymaking.

COP28 featured programming and a series of notable initiatives focused on youth inclusion in the climate process. This included the Dubai Youth Dialogue Forum, the most extensive platform to date for direct discussion on climate between youth and governments, and a dedicated Youth, Children, Education and Skills Day, which brought children, youth, and educators to the centre of the COP process.

COP28 also featured the official launch of the Youth Stocktake Report by YOUNGO, the Official Children and Youth Constituency of the UNFCCC, with support from the Youth Climate Ch
ampion. It represents the first-ever comprehensive analysis of youth engagement in the UNFCCC process and provides a roadmap to enhance youth inclusion moving forward.

The COP28 Youth Climate Delegates Programme has been the largest initiative to-date to expand youth participation in the COP process, with 110 young people from around the world being empowered to drive climate action in their communities and join the COP, many of whom for the first time.

The delegates received comprehensive capacity-building and full funding to participate in COP28. This enabled them to contribute to the negotiation process and establish a pioneering model for inclusion at COP for youth from small island developing states, least-developed countries, Indigenous and conflict-affected communities, and youth with disabilities.

The UAE has been committed to supporting the formalisation of the YCC role throughout the year to ensure that strong support of youth inclusion is guaranteed at future COPs. The current YCC and COP28 Pres
idency teams are currently seeking sustainable external funding for the role to avoid any need for Party-negotiated finance.
Source: Emirates News Agency

ATLANTA: A UAE delegation, led by Humaid Obaid Abu Shabas, President of the Supreme Audit Institution (SAI), participated in the United Nations (UN) Convention Against Corruption’s 10th session. The pivotal gathering was themed, “20 Years of the United Nations Convention Against Corruption: Towards a United World Against Corruption”, and was held in Atlanta, United States, from 11th to 15th December, 2023.

Key highlights of the conference included discussions on a broad spectrum of topics and procedural matters such as the election of office holders, the ratification of the agenda, and a comprehensive review of the Convention’s implementation. The sessions fostered a rich exchange of ideas, experiences, and expertise, focusing on reinforcing the principles of integrity and transparency among member states. Critical issues such as anti-corruption measures, legal frameworks, and protective mechanisms for whistleblowers were explored, alongside the deliberation of 13 draft resolutions and two decisions, address
ing vital areas such as corruption measurement, transparency in ownership, and public procurement.

The SAI’s official spokesperson highlighted the UAE’s success in fostering a business-friendly environment, crediting the nation’s effective anti-corruption policies and stringent regulations. These efforts have elevated transparency and integrity, boosted investor confidence and facilitated economic diversification. He said, “The UAE’s commitment to combating corruption has created a stable and competitive business environment, attracted global investments and ensured sustainable economic growth.”

During the conference, the SAI UAE delegation engaged in a series of meaningful bilateral dialogues with representatives from various States Parties. Led by Abu Shabas, these discussions with leaders of audit bureaus involved members from countries including France, United Kingdom, Switzerland, Italy, China, Kazakhstan, Algeria, Morocco, Poland, Greece, Georgia, Croatia, Moldova, Brazil, Pakistan, Armenia, Egypt, Ku
wait, Mauritania, Romania, Turkey, Malaysia, and Lebanon. They delved into crucial aspects like anti-corruption strategies, prevailing challenges, potential solutions, and the significance of sharing information and best practices.

Additionally, the UAE delegation partook in operational meetings, contributing significantly to dialogues on technical assistance, asset recovery, international cooperation, and preventive strategies against corruption. These interactions underscored the UAE’s commitment to enhancing transparency and integrity, bolstering its position as a key player in the global fight against corruption.

A major aspect of the UAE’s involvement was presenting the achievements of the Abu Dhabi Declaration Programme. This initiative has significantly advanced cooperation between supreme audit institutions and anti-corruption agencies. The presentation covered various programme initiatives, including training courses and workshops, underscoring their role in improving corruption counteraction capab
ilities and promoting effective public resource management.

The SAI UAE’s spokesperson expressed optimism about the Abu Dhabi Declaration Programme’s future role in advancing anti-corruption measures and governance standards worldwide.

Prior to the conference, SAI UAE, in collaboration with the United Nations Office on Drugs and Crime, organised a special event to showcase the Abu Dhabi Declaration Programme, bringing together global experts and officials to discuss its impact and future directions.
Source: Emirates News Agency

ABU DHABI: Measures to reduce emissions and support the UAEs transition to a cleaner, green world have seen a 15 percent decrease in waste generation from the Abu Dhabi Department of Economic Development (ADDED).

ADDED’s commitment to environmentally sustainable standards, including waste and pollution reduction, water and energy conservation and adherence to environmental laws and regulations were all highlighted by the ADDED’s inaugural Sustainability Report 2022.

The report demonstrated a 15 percent reduction in total waste generated in 2022, along with 6.65 tonnes of waste recycled, a 78 percent increase over the previous year. The report also highlighted a 7 percent decrease in electricity intensity (KWh/employees) and a 2 percent reduction in overall electricity consumption over 2021. This and other measures led ADDED to be awarded the Green Business Network (GBN) Award for its solid commitment to sustainability.

Meanwhile, Abu Dhabi’s Advanced Trade and Logistics Platform (ATLP), a single-window pla
tform offering trade services and covering the entire trade ecosystem, demonstrated a 9.3 kilotonnes/year reduction in CO2 emissions, while also increasing non-oil trade by 15.6 percent.

Rashed Abdulkarim Al Blooshi, Under-Secretary of ADDED, said, ‘We have long been committed to a greener future and our first Sustainability Report reaffirms how we are leading from the front when it comes to supporting the UAE’s transition to a net-zero world. This report not only showcases what we’ve achieved but more importantly what we will continue to do both within ADDED and with our partners to help government and businesses meet their net-zero emissions targets.’

Al Blooshi added, ‘This report demonstrates Abu Dhabi’s commitment to a future where environmental innovation and economic prosperity come together harmoniously to work towards sustainable development in our communities. This commitment to sustainability is based on strong beliefs and a long history of the wise use of resources and has long propelled us to a
ct responsibly towards the planet for current and future generations.’

Covering the period from 1st January to 31st December 2022, the Sustainability Report 2022 outlines ADDED’s operations and contains valuable insights into the Department’s sustainability strategies and goals.

The report is divided into four main sections, covering ADDED’s approach to Sustainability, Environmental Stewardship, Social Commitment, and Governance.

Key ESG highlights from the report include 37 percent female representation in the workforce; 42.8 percent SME contribution to Abu Dhabi’s GDP; 59 industries registered for the Industrial Sustainability Programme and Guidelines (ISG); 99 percent score for cybersecurity maturity; and Silver Award from The British Royal Society for the Prevention of Accidents (RoSPA).

Based on ADDED’s core business mandates, ‘Decent Work and Economic Growth’, ‘Industry, Innovation, and Infrastructure’, ‘Sustainable Cities and Communities’, and ‘Partnerships for the Goals’ were found to be the UN’s
Sustainability Development Goals where ADDED could have the greatest impact.
Source: Emirates News Agency

SEOUL: Hyundai Motor Company and Mubadala Investment Company (Mubadala), an Abu Dhabi-based global sovereign investor, have signed a Memorandum of Understanding (MoU) to jointly explore potential business opportunities and synergies for future mobility and technologies.

The signing ceremony, which took place in Abu Dhabi, was attended by Jaehoon Chang, President and CEO of Hyundai Motor Company, and Waleed Al Mokarrab Al Muhairi, Deputy Group Chief Executive Officer of Mubadala Investment Company. This marks the beginning of a strategic collaboration that will drive progress in future mobility and clean technologies.

The agreement will allow both parties to jointly invest and share expertise, leveraging the advantages of Mubadala’s investments and Hyundai Motor’s expertise in various fields, including green steel production, green aluminium production and recycling, as well as advanced air mobility (AAM), and infrastructure for electric vehicles.

In addition, Hyundai Motor and Mubadala will seek to unlock
potential investment opportunities.

‘This collaboration capitalises on the organic synergy between Hyundai Motor’s eco-friendly and futuristic business strategies, including hydrogen, green steel, green aluminium as well as future mobility technologies, and Mubadala’s investment portfolio,’ said Jaehoon Chang, President and CEO of Hyundai Motor Company. ‘Hyundai Motor will continue to pursue diverse partnerships to achieve a sustainable future and contribute to the global energy transition.’

Commenting on this agreement, Waleed Al Mokarrab Al Muhairi, Deputy Group CEO of Mubadala Investment Company, said, ‘This strategic partnership with Hyundai Motor Company marks a significant milestone in our journey to further diversify our portfolio across sectors that are shaping the future of the global economy such as mobility, green technology, and energy. Through our combined strengths and expertise, we will surface new investment opportunities that are in line with our strategic growth ambitions and sustainabilit
y agendas. We look forward to collaborating with Hyundai Motor Company and expanding our presence in South Korea.’
Source: Emirates News Agency

ABU DHABI: The Department of Government Enablement – Abu Dhabi (DGE), in partnership with the Department of Economic Development (ADDED), has hosted the third Abu Dhabi Government Leadership Retreat to boost creative leadership and bolster productive collaboration among leaders in the government sector of the emirate.

Held under the theme Falcon Economy, the retreat was attended by 33 delegates representing various Abu Dhabi Government entities. The retreat, held at Strata’s headquarters in Al Ain, provided a platform for leaders to converge, align their visions and share valuable knowledge and experience on enabling Abu Dhabi’s Falcon Economy to guide the emirate’s next phase of economic diversification.

The retreat also shed light on global government trends that can contribute to cementing Abu Dhabi’s position as regional economic powerhouse and its transition to a smart, sustainable and inclusive economy aligned with the vision of Abu Dhabi.

The retreat featured a series of discussions with senior gove
rnment officials and distinguished thought leaders, including Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED), and Ahmed Tamim Hisham Al Kuttab, Chairman of the Department of Government Enablement – Abu Dhabi.

The discussions covered a spectrum of topics, from industry insights to leveraging opportunities in emerging clusters and markets, enhancing Abu Dhabi’s competitiveness, streamlining business and investment processes, nurturing the innovation ecosystem, developing and attracting top-tier talent and addressing the dynamic landscape of the human resources sector.

Ahmed Tamim Hisham Al Kuttab, Chairman of Department of Government Enablement – Abu Dhabi, said, ‘Our recent transformation to the Department of Government Enablement – Abu Dhabi allows us to collaborate and leverage synergies between different entities and individuals to deliver efficient services to Abu Dhabi’s government entities, citizens and residents. The leadership retreat is testament to our re
newed commitment to bring multiple stakeholders under one roof to work towards a common goal.’

Ahmed Jasim Al Zaabi, Chairman of Abu Dhabi Department of Economic Development, said: ‘The partnership of co-hosting the Government Leadership Retreat signifies a decisive step towards positioning Abu Dhabi as a global economic powerhouse, with the emphasis on fostering an environment conducive to innovation, diversification and sustained economic growth.

The synergy achieved among government leaders ensures that we are not only embracing innovation but also cultivating diversified sectors for long-term success. This collaborative effort propels us forward on the path to economic resilience, reaffirming our commitment to a prosperous future for Abu Dhabi.”

The panel discussion was followed by various interactive activities and team-building exercises to enhance communication, cooperation and strategic thinking among leaders within the Abu Dhabi Government.

The third edition of the Abu Dhabi Government Leadership
Retreat follows the successful precedent set by its previous two editions. These retreats have consistently yielded outcomes that have significantly contributed to the ongoing efforts to foster a more prosperous future for Abu Dhabi.
Source: Emirates News Agency