Fish don’t buy umbrellas to survive in the sea

Fish don’t buy umbrellas to survive in the sea

Fish don’t buy umbrellas to survive in the sea
Rivers and lakes are drying up in some parts of the planet as the global warming crisis continues. (Shutterstock photo)
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Umbrellas are of even less use to fish, seeing as the fish are already dying due to our human excess and irresponsibility. For the best part of 50 years, we humans have been well-aware of the damage we are inflicting on our environment and its likely consequences on our planet and the survivability of future generations. While we have been attending one conference after another, the degradation of our environment has only accelerated, global temperatures have risen even further. Although 194 countries signed the supposedly groundbreaking Paris Agreement of 2015, we have still not seen any changes in our behavior indicating any hope that we are slowing the effects of climate change. 

I remember a movie called “Mississippi Burning,” where the FBI is called in to investigate the disappearance of three civil rights workers — two whites and one black man — in a Mississippi town run by the Ku Klux Klan. The imagery of fire and hatred is one that unfortunately marks our present day in my mind, with devastating conflicts raging, uninhibited hatred and racism, far-right election gains across the West, and a US election year that was a farce before it even began, now descending into a media feeding frenzy where the losers, as always, are ordinary citizens. It is not just Mississippi that is burning today; we stare on indifferently as the world is burning.

Shame on us for allowing ourselves to be diverted by all this as we blindly do absolutely nothing about the greatest existential challenge humanity has ever faced, namely climate change. In a recent issue of Financial Times, Martin Wolf published an article entitled “Market forces are not enough to halt climate change,” in which he illustrates how all our good intentions and supposed efforts are making no difference to the devastating climate change already underway, to the “folly of running irreversible long-term experiments on the only habitable planet we have.”

The bottom line is that we are simply not prepared to pay the price of decarbonizing the economy or of halting growth in order to halt ever-growing demand for electricity. Although electricity generation from non-fossil fuel sources has risen 44 percent over the last eight years, that from fossil fuel sources also rose 12 percent, meaning carbon emissions are still significantly on the rise, ultimately fueling ever more rapid and irreversible climate change. “Alas, the atmosphere responds to emissions, not good intentions: we have been running forward, but going backwards,” Wolf says.

Wolf cited a recent study from researchers at the Potsdam Institute for Climate Impact, who assert that “the costs of mitigating (climate change) by limiting the temperature increase to 2C, are just a sixth of the costs of the likely climate change.” 

We should be educating everyone from kindergartners to retirees on the realities and the limits of our planet in its collision course with our rapacious economic system.

Hassan bin Youssef Yassin 

Wolf adds that although “even a free-market fanatic cannot deny that environmental externalities are a form of market failure … the market will not fix this global market failure,” a “tragic failure” if there ever was one. Our global economy is simply not made to deal with such tremendous negative externalities, such long-term damage, and such a huge amount of waste being built into our economic reality. 

Indeed, “among the most important problems in this area is the failure of capital markets to price the future appropriately,” as Lord Nicholas Stern and Joseph Stiglitz argue in “Climate Change and Growth.” Shame on us for watching our planet and the future of humanity decline so rapidly in front of our eyes. Mother Nature will adapt; we, seemingly, will not. 

We should be educating everyone from kindergartners to retirees on the realities and the limits of our planet in its collision course with our rapacious economic system. We must open new avenues of dialogue and encourage our best minds to find new paths for a solution to this existential threat.

Our empty conferences, our meaningless signatures, our false bravado are all worthless. We must stop rewriting the stories of old and find new ways to bring about the meaningful participation of every human being on the planet, rather than rely on governments and businesses, whose interests lie elsewhere. Most of all, we must learn to value and respect what God and Nature have given us in birth, ensuring that in death we bequeath something better, not worse, to future generations.


Hassan bin Youssef Yassin worked closely with Saudi Arabia’s petroleum ministers, Abdullah Tariki and Ahmed Zaki Yamani, from 1959-1967. He led the Saudi Information Office in Washington from 1972-1981 and served with the Arab League’s observer delegation to the UN from 1981-1983.
 

Disclaimer: Views expressed by writers in this section are their own and do not necessarily reflect Arab News' point of view

UN pauses some Yemen operations over Houthi detention of staff

UN pauses some Yemen operations over Houthi detention of staff
Updated 27 sec ago
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UN pauses some Yemen operations over Houthi detention of staff

UN pauses some Yemen operations over Houthi detention of staff

UNITED NATIONS: The United Nations has paused all operations in Yemen’s Sa’ada governorate after more UN staff were detained by the Houthi authorities, deputy UN spokesperson Farhan Haq said on Monday.
“This extraordinary and temporary measure seeks to balance the imperative to stay and deliver with the need to have the safety and security of the UN personnel and its partners guaranteed,” Haq said. “Such guarantees are ultimately required to ensure the effectiveness and sustainability of our efforts.” 


Closing Bell: Saudi benchmark index closes in green 

Closing Bell: Saudi benchmark index closes in green 
Updated 11 min 41 sec ago
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Closing Bell: Saudi benchmark index closes in green 

Closing Bell: Saudi benchmark index closes in green 

RIYADH: Saudi Arabia’s Tadawul All Share Index increased on Monday, gaining 2.58 points, or 0.02 percent, to close at 12,471.72.        

The total trading turnover of the benchmark index was SR5.93 billion ($1.58 billion), as 72 stocks advanced, while 159 retreated.             

The MSCI Tadawul Index also increased by 0.68 points, or 0.04 percent, to close at 1,550.94.         

The Kingdom’s parallel market, Nomu, gained 12.11 points, or 0.04 percent, to close at 31,426.76. This comes as 37 stocks advanced while 52 retreated.          

Al-Babtain Power and Telecommunication Co. was the best-performing stock of the day, with its share price surging by 4.44 percent to SR47.        

Other top performers included East Pipes Integrated Co. for Industry, which saw its share price rise by 3.75 percent to SR160.60, and Makkah Construction and Development Co., which saw a 3.52 percent increase to SR111.80.        

Al Majed Oud Co. rose 3.32 percent to SR168, while Allied Cooperative Insurance Group gained 3.26 percent to SR17.76.    

Al Yamamah Steel Industries Co. saw the steepest decline of the day, with its share price easing 6.32 percent to close at SR36.30.    

Saudi Fisheries Co. fell 3.40 percent to SR53.90, while Leejam Sports Co. dropped 4.84 percent to SR169.20.    

Thimar Development Holding Co. also faced a loss with its share price dipping 2.75 percent to SR56.50, while Shatirah House Restaurant Co. saw a 3.12 percent to settle at SR22.94.     

On the announcements front, Leejam Sports Co. reported a 13 percent year-on-year growth in revenue for the financial year 2024, reaching SR1.50 billion. Net profit also surged by 28 percent, amounting to SR456 million compared to SR356 million in 2023.   

The increase in revenue was driven by a 10 percent rise in subscription and membership revenue and a 31 percent increase in income from paid programs, including personal training and swimming.   

The company’s revenue growth trailed historic trends partly due to changes in the subscription and brand mix.    

Leejam also recorded notable one-off gains in 2024, including SR92 million from the sale of three land plots in Riyadh and SR18 million from favorable rent negotiations related to centers in Ras Al-Khaimah, UAE.  

Despite the recorded gains, Leejam was among TASI’s worst performers.  

Saudi Electricity Co. has announced plans to hold meetings with fixed-income investors starting Feb. 10 regarding a potential issuance of US dollar-denominated sukuk under its international sukuk program.  

The issuance will be conducted through a special-purpose vehicle and offered to eligible investors in Saudi Arabia and internationally, subject to market conditions.   

The sukuk will be senior unsecured and issued in compliance with relevant regulatory approvals and laws.  

SEC has appointed a consortium of global and regional financial institutions, including HSBC, Standard Chartered Bank, BNP Paribas, and others, as joint lead managers for the potential offer.   

The proceeds from the issuance will be used to support SEC’s general corporate purposes, including capital expenditures, and to fund projects aligned with its Green Sukuk Framework.  

The final terms, including the value of the offer, will be determined based on market conditions and SEC’s requirements.  

SEC’s share price saw a slight 0.23 percent increase on Monday to reach SR17.30.


How SFA’s Prince Khaled galvanized 40,000 people to take Vision 2030 to the streets of Riyadh

How SFA’s Prince Khaled galvanized 40,000 people to take Vision 2030 to the streets of Riyadh
Updated 27 min 17 sec ago
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How SFA’s Prince Khaled galvanized 40,000 people to take Vision 2030 to the streets of Riyadh

How SFA’s Prince Khaled galvanized 40,000 people to take Vision 2030 to the streets of Riyadh
  • Saudi Sports for All Federation sees record-breaking numbers for the 2025 Riyadh Marathon, meeting Ministry of Sport target for Vision 2030

RIYADH: More than 40,000 people of all ages and abilities took part in the 2025 edition of the Riyadh Marathon at the weekend, staged by the Saudi Sports for All Federation — a Ministry of Sport arm targeting mass participation.

With separate races for elite and amateur participants, including family runs and a number of distance options, this year’s marathon saw the largest number of participants and attendees than all previous years, setting a new record for mass participation sports in the Kingdom.

In an exclusive interview with Arab News, Prince Khaled bin Al-Waleed bin Talal Al-Saud revealed that the race’s four categories — the full marathon (42 km), half marathon (21 km), 10 km and the highly popular family 4 km race  — were fully subscribed.

“We can’t look only at the number of participants; we need to assess it through the lens of the wider sports ecosystem it feeds, builds upon, enhances. Every person who hits the pavement is contributing to the crown prince’s vision of Saudi Arabia, to Vision 2030 itself,” said Prince Khaled, the Saudi Sports for All Federation president, on the sidelines of one of the Kingdom’s most international events.

“Minister of Sport Prince Abdulaziz bin Turki Al-Faisal has paved the way for success with his support and guidance during our planning and execution stages; the Ministry of Sport was even engaging in real time on the social channels. I loved seeing the ministry call out our heroes and cheer them on,” he added, referencing the many posts on X featuring key moments from the event.

Among the thousands of marathon-related posts tagging Prince Khaled on Instagram and X, the mother of Allyn Al-Oraifi declared that her three-month old baby would see the prince and the SFA team “at the finish line,” as officially the youngest participant in the country’s flagship annual running event.

Other posts lauded the prince’s efforts to get people moving and making the marathon accessible for all.

“This is what Sports for All stands for at our core: No matter how young, old, no matter your ability, we are designing programs that make you part of the fabric of success for physical activities and health in Saudi. It is an international event, with an organic and spontaneous celebratory feeling to it,” said Prince Khaled. “Just look around — this is history being made.

“You can be part of Vision 2030; you can lead the way. Just join us and take one step after the other. Bring your kids, bring your parents, start something at your company like our many community sports groups. Whatever the sport or activity, we are here to help you and see Saudi take mass participation to the next level,” the SFA president said, adding that the work of the federation’s managing director, Shaima Saleh Al-Husseini, had been crucial to managing the many different stakeholders of the marathon.

The marathon routes were planned along important Riyadh landmarks, including Boulevard City and Wadi Hanifah, while the event start line was around Boulevard World and finish line near Kingdom Arena. Various entities created bespoke experiences around the marathon, such as a special Riyadh Marathon drink by Joe & the Juice.

Prince Khaled attributed much of the success to the core and supporting sponsors of the event. “Saudi Awwal Bank was the presenting partner for a second time, with ASICS and Tawuniya as headline sponsors for both the SFA Expo and the Riyadh Marathon. We are proud to work closely with these community-minded entities to grow Saudi’s health and wellness achievement metrics,” Prince Khaled said.

And for next year’s event?

“Marathon planning basically starts the day after the marathon and goes on for the entire year. Partners play such a crucial role in getting people excited for the event; our community sports groups are the best at this,” said Prince Khaled.

“Every post on social media, every time you tag a friend — we see it and we want you to know that we know you are the people lighting it up.

“Keep going. Let’s move on this momentum together.”


International Criminal Court opens inquiry into Italy over release of Libyan warlord

International Criminal Court opens inquiry into Italy over release of Libyan warlord
Updated 15 min 31 sec ago
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International Criminal Court opens inquiry into Italy over release of Libyan warlord

International Criminal Court opens inquiry into Italy over release of Libyan warlord
  • Italian Justice Minister Carlo Nordio defended the decision to send the suspect back to Libya
  • The warlord was arrested in Turin on an ICC warrant on January 19 but was later released

THE HAGUE: Judges at the International Criminal Court have officially asked Italy on Monday to explain why the country released a Libyan man suspected of torture, murder and rape rather than sending him to The Hague.
Italian police arrested Ossama Anjiem, also known as Ossama Al-Masri, last month but rather than extraditing him to the Netherlands, where the ICC is based, sent him back to Libya aboard an Italian military aircraft.
“The matter of state’s non-compliance with a request of cooperation for arrest and surrender by the court is before the competent chamber,” the court’s spokesperson Fadi El-Abdallah said in a statement.
Addressing parliament last week, Italian Justice Minister Carlo Nordio defended the decision to send Al-Masri home, claiming the ICC had issued a contradictory and flawed arrest warrant. The court, he said, “realized that an immense mess was made,” he told lawmakers.
Al-Masri was arrested in Turin on the ICC warrant on Jan. 19, the day after he arrived in the country from Germany to watch a soccer match. The Italian government has said Rome’s court of appeals ordered him released on Jan. 21 because of a technical problem in the way that the ICC warrant was transmitted, having initially bypassed the Italian justice ministry.
The ICC said it does not comment on national judicial proceedings.
Al-Masri’s arrest had posed a dilemma for Italy because it has close ties to the internationally recognized government in Tripoli as well as energy interests in the country.
According to the arrest warrant, Al-Masri heads the Tripoli branch of the Reform and Rehabilitation Institution, a notorious network of detention centers run by the government-backed Special Defense Force, which acts as a military police unit combating high-profile crimes including kidnappings, murders as well as illegal migration.
Like many other militias in western Libya, the SDF has been implicated in atrocities in the civil war that followed the overthrow and killing of the Libyan president Muammar Qaddafi in 2011.
Additionally, any trial in The Hague of Al-Masri could bring unwanted attention to Italy’s migration policies and its support of the Libyan coast guard, which it has financed to prevent migrants from leaving.
In October, the court unsealed arrest warrants for six men allegedly linked to a brutal Libyan militia blamed for multiple killings and other crimes in a strategically important western town where mass graves were discovered in 2020.


Hamas accuses Israel of ceasefire violations, says it will delay next hostage release

Palestinians gather as Hamas fighters escort Red Cross vehicles before handing over three Israeli captives in Deir Al-Balah.
Palestinians gather as Hamas fighters escort Red Cross vehicles before handing over three Israeli captives in Deir Al-Balah.
Updated 48 min 24 sec ago
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Hamas accuses Israel of ceasefire violations, says it will delay next hostage release

Palestinians gather as Hamas fighters escort Red Cross vehicles before handing over three Israeli captives in Deir Al-Balah.
  • Next exchange was scheduled for Saturday, releasing three Israeli hostages in exchange for hundreds of Palestinian prisoners
  • Spokesperson for Hamas’ military wing accused Israel on Monday of systematically violating the ceasefire agreement over the past three weeks

JERSUSALEM: A Hamas spokesman on Monday accused Israel of violating the ceasefire agreement with the group, including targeting Palestinians in Gaza with airstrikes, and said that next Saturday’s hostage release would be delayed.
A Hamas spokesperson said Monday that the group will delay the next hostage release after accusing Israel of violating ceasefire agreement.
Israel and Hamas are in the midst of a six-week ceasefire during which Hamas is releasing dozens of the hostages captured in its Oct. 7, 2023, attack in exchange for nearly 2,000 Palestinian prisoners.
The sides have carried out five swaps since the ceasefire went into effect last month, freeing 21 hostages and over 730 prisoners. The next exchange was scheduled for Saturday, releasing three Israeli hostages in exchange for hundreds of Palestinian prisoners.
Abu Obeida, the spokesperson for Hamas’ military wing, the Al-Qassam Brigades, accused Israel on Monday of systematically violating the ceasefire agreement over the past three weeks, and said Saturday’s release would be delayed.
“The resistance leadership has closely monitored the enemy’s violations and its failure to uphold the terms of the agreement,” Abu Ubaida said.
“This includes delays in allowing displaced Palestinians to return to northern Gaza, targeting them with airstrikes and gunfire across various areas of the Strip, and failing to facilitate the entry of humanitarian aid as agreed.”