WMO: Heatwaves to worsen air quality, additional 'climate penalty'
September 8, 2022, 9:22 am

WMO: Heatwaves to worsen air quality, additional 'climate penalty'

The World Meteorological Organization, defines a heat wave as five or more consecutive days of prolonged heat in which the daily maximum temperature is higher than the average maximum temperature by 5 °C (9 °F) or more. However, some nations have come up with their own criteria to define a heat wave - Photo. Pixabay

World Meteorological Organization (WMO) warned on Wednesday (Sep 7) that severe, long-lasting heatwaves and more frequent wildfires could lead to even worse air quality, an additional "climate penalty" for hundreds of millions of people.

According to WMO's annual Air Quality and Climate Bulletin released on Wednesday (Sep 7), an anticipated rise in the frequency, intensity and duration of heatwaves and an associated increase in wildfires this century are likely to worsen air quality, harming human health and ecosystems.

WMO Secretary-General Petteri Taalas said: "As the globe warms, wildfires and associated air pollution are expected to increase, even under a low emission scenario. In addition to human health impacts, this will also affect ecosystems as air pollutants settle from the atmosphere to Earth's surface.”

He added: "We have seen this in the heatwaves in Europe and China this year when stable high atmospheric conditions, sunlight and low wind speeds were conducive to high pollution levels.”

A heat wave is usually measured relative to the usual weather in the area and relative to normal temperatures for the season. Temperatures that people from a hotter climate consider normal can be called a heat wave in a cooler area if they are outside the normal climate pattern for that area - Pic. Pixabay

He said: "This is a foretaste of the future because we expect a further increase in the frequency, intensity and duration of heatwaves, which could lead to even worse air quality, a phenomenon known as the 'climate penalty.’”

The "climate penalty", according to the Xinhua, refers specifically to the climate change amplification effect on ground-level ozone production, which negatively impacts the air that people breathe.

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The regions with the strongest projected climate penalty, mainly in Asia, are home to roughly a quarter of the world's population.

Climate change could exacerbate surface ozone pollution episodes, leading to detrimental health impacts for hundreds of millions of people.

According to the Intergovernmental Panel on Climate Change (IPCC), the probability of catastrophic wildfire events is likely to increase by 40 to 60 percent by the end of this century under a high emission scenario, and by 30 to 50 percent under a low emission scenario.

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If greenhouse gas emissions remain high and global temperatures rise by three degrees Celsius from preindustrial levels by the second half of the 21st century, surface ozone levels are expected to increase across heavily polluted areas, particularly in Asia.

While most of the ozone increase will be due to an increase in emissions from fossil fuel combustion, roughly a fifth of this increase will be due to climate change, most likely realized through increased heatwaves, which amplify air pollution episodes.

As a result, heatwaves -- which are increasingly common due to climate change -- are likely to continue leading to a degradation in air quality, IPCC said.

Source: xinhua

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.