Sunday 23 June 2024

Ahmed Saeed Al Calily

Climate change threat outstrips other megatrends: study

ABU DHABI, March 29, 2023

Climate change outstrips other megatrends as the greatest risk to the wellbeing of the world, impacting health, the environment and business, says a Mubadala-sponsored study.
Based on a survey of over 1,800 global investors, engaged and informed Millennials and Gen Z consumers from the UAE, UK, US, China, France, and India, the study finds France (52%), the UK (50%), the UAE (41%), and India (39%) agree most strongly that climate change is the biggest threat, while the US (29%) and China (27%) see climate change almost on par with the impact of demographic shifts and inequalities, says the Megatrends Study launched in partnership with Bloomberg Media.    
In response to climate change, the need for a transition to a low carbon economy is highlighted, with UAE and India feeling most strongly, at 93% and 92% respectively. 
Digital technologies
To support the creation of a sustainable future for all, the study finds that digital technologies is the megatrend most likely to advance the wellbeing of the world, led by India (34%), the US (34%), China (32%), and the UAE (31%). 
The study also notes the significant expectations for business to help lead the way to the future. India (95%) and the UAE (91%) feel most strongly, followed by the US (85%), France (84%), the UK (84%), and China (81%).
Ahmed Saeed Al Calily, Chief Strategy and Risk Officer, Mubadala, said: “As a responsible investor, Mubadala continues to execute our investment strategy in line with our convictions about how trends are shaping the world. We are investing in the energy transition, traditional and digital infrastructure, life sciences, and technology to achieve value creation while delivering a positive impact to communities and contributing to a sustainable future.” 
Human activity
The Megatrends Study follows the publication of the report by the UN Economist Network for the UN 75th Anniversary, which focused on five megatrends: climate change; demographic shifts, particularly population ageing; urbanisation; the emergence of digital technologies and inequalities. According to the UN Economist Network, the megatrends ‘are the result of human activity, and as such, they can be shaped by human decisions and policy choices.’ 
Respondents to the Mubadala and Bloomberg Media survey in all markets agree that all five megatrends are important to achieving a sustainable future both today and in 2030. However, while most markets feel optimistic about the current state of megatrends, especially digital technologies, investors across the board are more optimistic than either Millennials or Gen Z. For instance, investors (91%) feel more empowered to respond to megatrends through their choices than either Gen Z (77%) or Millennials (73%). 
Key findings
Other key findings noted by the Megatrends Study include: 
•Respondents strongly agree that inequalities impact the economy, society, and the political environment
•Respondents agree urbanization brings significant economic and social advantages and disadvantages
•Respondents are mixed on impact on quality of life of demographic shifts. While India and the UAE feel this most strongly at 93% and 91% respectively, France and the UK rate the impact lower at 82% and 79%
Renewable energy
Mubadala’s interest in renewable energy spans more than 15 years and began when it founded Masdar, which is active in more than 35 countries across six continents, ranging from the world’s largest single-site solar power plant in the UAE with a capacity of 2GW to Indonesia’s first floating solar power plant, which will provide enough electricity to power 50,000 homes. 
Mubadala’s recent partnership with Abu Dhabi National Oil Company (Adnoc) and Abu Dhabi National Energy Company PJSC (Taqa) on Masdar at the end of 2022 is designed to create a global clean energy powerhouse by propelling Masdar’s renewable power capacity to 100GW.
Mubadala continues to invest in line with its strategy based on megatrends, deploying capital to help find solutions to the world’s biggest challenges.-- TradeArabia News Service


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