Sunni Threat of Withdrawal from Politics in Lebanon Turns into Opportunity

Former Lebanese Prime Minister Saad Hariri was visibly emotional as he announced he is suspending his work in politics and will not run in May's parliamentary elections. (AP)
Former Lebanese Prime Minister Saad Hariri was visibly emotional as he announced he is suspending his work in politics and will not run in May's parliamentary elections. (AP)
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Sunni Threat of Withdrawal from Politics in Lebanon Turns into Opportunity

Former Lebanese Prime Minister Saad Hariri was visibly emotional as he announced he is suspending his work in politics and will not run in May's parliamentary elections. (AP)
Former Lebanese Prime Minister Saad Hariri was visibly emotional as he announced he is suspending his work in politics and will not run in May's parliamentary elections. (AP)

Head of the Mustaqbal movement, former Prime Minister Saad al-Hariri's decision to refrain from running in the upcoming parliamentary elections has delivered contradictory messages over the future role that will be played by Lebanon's Sunnis, the country's largest sect.

Some sides have been alarmed by the Sunni leader's to step aside during a pivotal year for Lebanon, which is expected to witness parliamentary elections in May and presidential elections in the fall.

Other sides, however, see the move as an opportunity.

A former prime minister has said the current efforts by Sunni leaderships to achieve a Sunni electoral push away from Hariri and his movement is indeed an opportunity.

The Mustaqbal has been leading the Sunni political scene since the early 1990s.

Up until this moment, it appears that the Sunnis who will run in the elections will not be united under a single leadership. Rather, prominent individual Sunni figures will likely wage the elections under a single slogan related to Lebanon's sovereignty, Arab belonging and confronting the Iranian threat. They will also promote slogans related to Lebanon's development and economic recovery, negotiations with the IMF and pushing reforms forward.

The lack of central Sunni authority for the entire country, as has been the case in previous elections when the Mustaqbal represented the vast majority of the sect, will produce small parliamentary blocs. They, in turn, will reach understandings with each other to form a united front ahead of major political events in Lebanon, most notably the presidential elections and appointing a new prime minister.

Another former prime minister said that running elections demands an effective electoral leadership, which currently does not exist. Dar al-Fatwa and Grand Mufti Sheikh Abdul Latif Derian appear unwilling to become embroiled in the elections and would rather preserve a unifying national role for the Sunnis.

Former prime ministers have also said they will not run in the elections, which has added pressure on Dar al-Fatwa to become more politically engaged to preserve the Sunni role and Lebanon's Arab identity.

Dar al-Fatwa has called for addressing the situation through cooperation, consultations and united ranks.

Derian earlier this week said Dar al-Fatwa has always carried out its unifying religious national role and it will continue to do so to safeguard Lebanon and the rights of its people.

On the other hand, some sides believe that the confusion sparked by Hariri's suspension of his political career will serve as an opportunity to end the major national crisis Lebanon is enduing.

They have cited the Sunni sect's largely unwavering and consistent national stance.

Former ministers Nouhad al-Mashnouq and Ashraf Rifi, meanwhile, said the elections may produce new Sunni leaderships

Moreover, Mashnouq dismissed concerns that Hezbollah will be able to achieve a major breakthrough in the sect through the elections.

Electoral experts suspect the party will take advantage of the void left behind by Mustaqbal to influence Sunni voters in several districts, such as Beirut, the northern province of Akkar, the norther, western and central Bekaa in the east, and the Chouf in Mount Lebanon.

Sunni votes in the previous polls in 2018 played a major role in the election of lawmakers from other sects, especially in Akkar, Beirut, Mount Lebanon and the western and central Bekaa.



COP29 - How Does $300 Billion Stack up?

A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)
A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)
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COP29 - How Does $300 Billion Stack up?

A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)
A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)

Countries agreed at the UN's COP29 climate conference to spend $300 billion on annual climate finance. Here are some ways of understanding what that sum is worth:

MILITARY MIGHT

In 2023, governments around the globe spent $6.7 billion a day on military expenditure, according to the Stockholm International Peace Research Institute.

That means the $300 billion annual climate finance target equates to 45 days of global military spending.

BURNING OIL

$300 billion is currently the price tag for all the crude oil used by the world in a little over 40 days, according to Reuters calculations based on global crude oil demand of approximately 100 million barrels/day and end-November Brent crude oil prices.

ELON MUSK

According to Forbes, Elon Musk's net worth stood at $321.7 billion in late November. The world's richest man and owner of social media platform X has co-founded more than half a dozen companies, including electric car maker Tesla and rocket producer SpaceX.

STORM DAMAGE

Hurricane Katrina, one of the most devastating and deadliest cyclones in US history, caused $200 billion in damage alone in 2005.

This year's climate-fueled Hurricane Helene could end up costing up to $250 billion in economic losses and damages in the US, according to estimates by AccuWeather. While preliminary estimates by Morningstar DBRS suggest Hurricane Milton, also supercharged by ocean heat, could cost both the insured and uninsured nearly $100 billion.

BEAUTY BUYS

The global luxury goods market is valued at 363 billion euros ($378 billion) in 2024, according to Bain & Company.

COPPER PLATED

The GDP of Chile - the world's largest copper producing country - stood at $335.5 billion in 2023, according to World Bank data.

GREECE'S BAIL OUT

Euro zone countries and the International Monetary Fund spent some 260 billion euros ($271 billion) between 2010 and 2018 on bailing out Greece - the biggest sovereign bailout in economic history.

BRITISH BONDS

Britain's new government needs to borrow more to fund budget plans. Gilt issuance is expected to rise to 296.9 billion pounds ($372.05 billion) for the current financial year.

TECH TALLY

A 10% share of tech giant Microsoft is worth just over $300 billion, according to LSEG data. Meanwhile the market cap for US oil major Chevron stood at $292 billion.

CRYPTO

The annual climate finance target amounts to 75% of the total value of the global market for crypto currency Ether, the world's second-largest cryptocurrency.

Alternatively, 3 million Bitcoin would cover the annual climate finance target as the world's largest cryptocurrency closes in on the $100,000 mark following a rally fueled by Donald Trump winning the Nov. 5 US presidential election.