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Innovating for the forests: charting a new course against deforestation

Innovating for the forests: charting a new course against deforestation

Innovating for the forests: charting a new course against deforestation
In 2022, deforestation rates increased by 4%, setting us back 21% from the 2030 target to cease deforestation. (Shutterstock)
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As we marked International Day of Forests last week, let us recognize the silent guards that are our planet’s forests. These supports of biodiversity and natural heritage are hovering on the edge, facing threats from human encroachment and climate instability.

Deforestation is a relentless force, eroding our forests. This destruction is not just about losing trees — it is about the breakdown of ecosystems, the silencing of countless species, and the depletion of crucial carbon reservoirs. The effects are felt worldwide, influencing climate, water resources, and the air on which we rely. The UN has identified deforestation as the source of up to 20 percent of global greenhouse gas emissions annually, underscoring the need for prompt action.

In 2022, deforestation rates increased by 4 percent, setting us back 21 percent from the 2030 target to cease deforestation. The Amazon, the heart of our planet, is being depleted at an alarming rate. The Congo basin, with its distinctive wildlife, is under constant threat. Southeast Asia’s forests are rapidly shrinking, with the Tropical Forest Alliance reporting a loss of about 1.5 million hectares in just one year.

In these critical times, Alwaleed Philanthropies has created an innovative initiative to utilize technological advancements to counteract deforestation. Atlai is an artificial intelligence-powered platform providing monitoring and reporting on deforestation around the world. Pioneered by Alwaleed Philanthropies, Atlai harnesses the power of AI to unlock the potential of collective action through accessible climate data. As part of Alwaleed Philanthropies’ commitment to supporting a healthier environment, Atlai empowers the global community working to combat deforestation through the provision of accessible, actionable data.

Aligned with Saudi Vision 2030 and the Sustainable Development Goals, Atlai makes climate data accessible, enabling environmentalists, policymakers, and local communities to take informed action.

Access to accurate and timely data is paramount in the fight against deforestation. Atlai serves as an electronic guard, providing a comprehensive view of the forests’ health and the challenges they face. By compiling satellite imagery, ground reports, and advanced algorithms, Atlai identifies critical areas of deforestation, then generates reports, social media posts or facts about the deforestation activity in addition to creating a country profile and providing data for the past 20 years. This data is not just informative, but also transformative. It empowers stakeholders to make informed decisions, leading to targeted conservation efforts, holding governments and corporations accountable, and fostering a global community of forest guardians.

Atlai hopes to open the door for more collective approaches where inclusive and accessible platforms can help accelerate the solutions to the climate transition.

Let us rally around Atlai. Spreading awareness, supporting growing initiatives, and advocating for policy changes can amplify Atlai’s impact. Alwaleed Philanthropies’ commitment to innovation and environmental stewardship calls upon us to act. Together, we can reverse deforestation, restore lost ecosystems, and protect our forests for the future.

  • Princess Lamia bint Majed Al-Saud is secretary-general of Alwaleed Philanthropies. Twitter: @lamia1507
Disclaimer: Views expressed by writers in this section are their own and do not necessarily reflect Arab News' point of view

Saudia unites football, motorsport with displays in Newcastle, Berlin

Saudia unites football, motorsport with displays in Newcastle, Berlin
Updated 11 min 10 sec ago

Saudia unites football, motorsport with displays in Newcastle, Berlin

Saudia unites football, motorsport with displays in Newcastle, Berlin
  • Kingdom’s flag carrier introduces fans to new Gen3 Formula E car at St. James’ Park
  • Immersive fan zone offers variety of interactive experiences during Berlin E-Prix

BERLIN/JEDDAH: Saudia, the flag carrier of Ƶ, has flown the new Gen3 Formula E car to St. James’ Park in the UK to coincide with Newcastle United’s final home game of the season.

The carrier has a strategic partnership with the Premier League club and is also the official airline partner of the all-electric Formula E series.

The event coincided with the release of a short film bringing together the worlds of motorsport and football, with football fans being introduced to Formula E and the car.

“This event provides a fantastic platform for us to engage with our guests and the global audience, whether in person or through our innovative digital portals,” Khaled Tash, Saudia Group’s chief marketing officer, said in the statement.

“Integrating our partnerships with both Newcastle United and Formula E in such an engaging manner exemplifies our commitment to bringing fans closer to the sports they love. Each year, we strive to elevate the experience for racegoers and fans worldwide, as part of our commitment to creating unforgettable memories wherever our brand is present.”

Saudia also hosted an immersive fan zone experience during the Berlin E-Prix on May 11-12 in Berlin.

Fans were given access to an E-Village, with a dedicated Discover-E Zone featuring a variety of interactive experiences, as well as games, competitions, and giveaways featuring both Saudia and Formula E merchandise.


German court convicts a Palestinian man of murder over a fatal stabbing on a train last year

German court convicts a Palestinian man of murder over a fatal stabbing on a train last year
Updated 21 min 15 sec ago

German court convicts a Palestinian man of murder over a fatal stabbing on a train last year

German court convicts a Palestinian man of murder over a fatal stabbing on a train last year
  • Psychiatric expert testified during the trial that the defendant had psychotic symptoms and post-traumatic stress disorder

BERLIN : A court in Germany convicted a man of murder and sentenced him to life in prison Wednesday for carrying out a fatal stabbing on a train last year.
The state court in Itzehoe convicted the 34-year-old Palestinian, who has been identified only as Ibrahim A. in line with German privacy rules, of murder and attempted murder, German news agency DPA reported.
It found that he fatally stabbed two teenagers and wounded another four passengers seriously in the Jan. 25, 2023 incident in the northern town of Brokstedt, before being overpowered by others on board the regional train traveling from Kiel to Hamburg.
The defendant grew up in the Gaza Strip and came to Germany in 2014.
A psychiatric expert testified during the trial that the defendant had psychotic symptoms and post-traumatic stress disorder, but could be held criminally responsible for his actions. The defense lawyer had called for his client to be moved to a psychiatric institution.
Investigators have said the man had a previous criminal record and had been in pretrial custody in another case before being released days ahead of the attack. He had traveled to an appointment with immigration authorities in Kiel and prosecutors have said he appears to have acted out of frustration.
The severity of the case meant that he likely won’t be eligible for release after 15 years as is usually the case in Germany.


Ancient spring festival kicks off in Pakistan’s Chitral, drawing crowds with traditional music and dance

Ancient spring festival kicks off in Pakistan’s Chitral, drawing crowds with traditional music and dance
Updated 43 min 50 sec ago

Ancient spring festival kicks off in Pakistan’s Chitral, drawing crowds with traditional music and dance

Ancient spring festival kicks off in Pakistan’s Chitral, drawing crowds with traditional music and dance
  • Chilm Josht festival is celebrated by the Kalash people, often described as pagan due to their religious practices
  • The annual event is integral to the identity of the Kalash community and the continuity of its ancient traditions

PESHAWAR: The Khyber Pakhtunkhwa (KP) Tourism Authority on Tuesday announced the beginning of a popular cultural festival in Pakistan’s northwestern Chitral region, saying the event had attracted large numbers of foreign and local tourists like in the past.

The Chilm Josht festival is celebrated by the Kalash people, who are often described as pagan due to their religious beliefs and practices involving the worship of multiple gods and spirits, to mark the arrival of spring and celebrate the bounty of nature.

Known for music, dance, and colorful clothes, the festival is also associated with the preparation for new crops, symbolizing hope and prosperity for the community.

“The ancient Kalash festival ‘Chilm Josht’ has kicked off in full swing,” the KP tourism authority said in a statement. “Young women of Kalash danced to the beat of drums while wearing intricately embroidered garments, enhancing the colors of the festival.”

The statement added that district administration officials, members of the Kalash Development Authority and a large number of domestic and foreign tourists were also attending the festivity.

“The district administration has arranged foolproof security for the festival,” it added. “Tourism police are also providing services for the guidance of tourists.”

Chilm Josht is said to be the oldest festival of the Kalash tribe. It involves various rituals, the most well-known being the one where people dance with walnut branches in hand.

The festival will last for three days in the area known for its rugged terrain and scenic beauty. The annual event is considered integral to the identity of the indigenous Kalash community and the continuity of its ancient traditions.
 


GCC bank’s profitability to remain strong in 2024 due to delay in US Fed’s rate cut

GCC bank’s profitability to remain strong in 2024 due to delay in US Fed’s rate cut
Updated 41 min 5 sec ago

GCC bank’s profitability to remain strong in 2024 due to delay in US Fed’s rate cut

GCC bank’s profitability to remain strong in 2024 due to delay in US Fed’s rate cut

RIYADH: A delay in interest rate cuts by the US Federal Reserve will see Gulf Cooperation Council banks’ profitability remain strong in 2024, according to S&P Global Ratings.

This comes as most GCC central banks typically mirror the Fed’s rate movements to preserve their currency pegs. 

In a statement, the US credit rating agency revealed that it also expects asset quality to remain robust despite the prolonged high interest rates, thanks to supportive economies, contained leverage, and a high level of precautionary reserves.

“We anticipate a slight deterioration in profitability in 2025, as the Fed could start cutting rates in December 2024, and most GCC central banks are likely to follow suit to preserve their currency pegs,” the statement said.

“However, we believe that several factors will mitigate the overall effect,” it added. 

Moreover, S&P disclosed that every 100-basis point drop in rates cuts an average of around 9 percent off the region’s banks’ bottom lines.

This is based on the GCC banks’ December 2023 disclosures and assumes a fixed balance sheet and a parallel shift in the yield curve.


Pakistan shares hit fresh record on rate cut hopes, IMF talks

Pakistan shares hit fresh record on rate cut hopes, IMF talks
Updated 54 min 20 sec ago

Pakistan shares hit fresh record on rate cut hopes, IMF talks

Pakistan shares hit fresh record on rate cut hopes, IMF talks
  • Pakistan last month completed a short-term, $3 billion IMF program, seeking fresh, longer-term bailout 
  • IMF mission is in Pakistan to discuss financial year 2025 budget, policies, reforms under potential new program

Pakistan’s benchmark share index touched a lifetime high on Wednesday, breaching the key level of 75,000, on hopes that easing inflation could pave the way for interest rate cuts as early as June.

Still attractive stock valuations, expectations of more foreign inflows, and the start of talks with the IMF on a new loan program added to the bullish sentiment.

The index was trading at 75,013 points at 0531 GMT, up 0.7 percent, after hitting an intraday high of 75,115. It has surged 80 percent over the past year, and it is up 16.1 percent year-to-date after an IMF rescue last summer helped the government avert a debt default.

On Monday, the index closed at a record of 73,822, up 1 percent.

Mohammed Sohail, CEO of Topline Securities, said Wednesday’s gains were fueled by foreign fund buying.

On Tuesday, the MSCI index added a Pakistani bank, National Bank of Pakistan, to the MSCI frontier market index. Its shares rose 1.6 percent on Wednesday, outperforming the benchmark index.

“We estimate Pakistan’s weight will also increase, thereby having the potential to attract more passive foreign funds,” said Sohail.

The market is picking up steam due to an anticipated decline in inflation to 13.5 percent for May and expectations of a monetary easing cycle starting in June, said Shahid Habib, CEO of Arif Habib Limited.

Investors were also optimism about discussions on a new International Monetary Fund financing program and the economic roadmap ahead, Habib said.

Pakistan last month completed a short-term, $3 billion IMF program, but the government of Prime Minister Shehbaz Sharif has stressed the need for a fresh, longer-term program.

An IMF mission is in Pakistan to discuss the financial year 2025 budget, policies, and reforms under a potential new program.

Wall Street bank Citi expects Pakistan to reach a four-year agreement with the IMF worth up to $8 billion by end-July, and recommends going long on the country’s 2027 international bond.