Climate change is inflicting damaging losses in the Middle East and Central Asia (Meca) and a 1°C rise in temperature in five of the hottest regional countries translates to an immediate decline in per capita economic growth of around 2 percentage points.
Over the past three decades, temperatures in the region have risen by 1.5°C — twice the global increase of 0.7°C — which is particularly harmful for hotter countries including Bahrain, Djibouti, Mauritania, Qatar and the UAE, the International Monetary Fund said.
“According to our analysis, climate disasters in the [Meca] region reduce annual economic growth by 1 to 2 percentage points on a per capita basis,” Jihad Azour, IMF director for the Middle East and Central Asia Department and Christoph Duenwald, who co-ordinates the Washington-based fund's climate efforts in the region, said in a blog on Wednesday.
“These events are expected to become more common and more severe as the planet heats up.”
Poor and conflict-affected countries in the region have suffered the most from rising temperatures and extreme weather events. In any given year since 2000, climate disasters have killed more than 2,600 people, affected seven million others and caused $2 billion in direct material damage.
With temperatures still rising, adaptation of the right policies has become a pressing priority and underscores the need for international support to finance that adaptation, IMF officials said.
Nations across the globe are pushing to meet the 2015 Paris Agreement mandate to bring temperatures down to just 1.5°C above pre-industrial levels and limit the amount of greenhouse gases emitted by human activity to the same levels that trees, soil and oceans can absorb naturally.
However, to cut greenhouse emissions by about 51 billion tonnes per year and meet carbon neutrality goals by the middle of the century, the world requires about $50 trillion in incremental investments.
In October, the IMF urged the $50tn global investment funds industry to step up efforts to finance the transition to a greener economy and help mitigate the effects of climate change.
The need for financing for poor and conflict-ravaged countries is far more pressing. Developed nations have agreed to generate $100bn in climate finance to assist poor countries each year — but have yet to deliver on that pledge.
Countries with low climate resilience, such as Afghanistan, Somalia, and Sudan, as well as Pakistan, a lower-middle income nation, have suffered intensely with more people being killed or affected by climate-related events.
“Tapping additional domestic revenue can play an important part in supporting spending on climate adaptation while reducing any increase in public debt. But countries also require greater international support to finance adaptation, ideally on concessional terms, as well as transfers of expertise and technology to develop their own capacity to adapt to climate change,” Mr Azour and Mr Duenwald said.
Between 2009 and 2019, bilateral and multilateral organisations provided about $70bn in climate finance to the Meca region. However, a large proportion was for “mitigation initiatives and only around a quarter solely for adaptation”.
“Estimated adaptation needs are much greater,” they said.
Most countries in the region now recognise climate adaptation as a pressing issue and have started to address climate challenges. However, priority should be given to measures that are “highly beneficial under all plausible climate-change scenarios” and building capacity to adapt to future climate challenges.
“There is no one-size-fits-all solution, because each country faces its own set of challenges, but some common principles apply to the whole region,” IMF officials said.
The fund is supporting its member countries in their efforts with policy advice, capacity development and lending. Its proposed $50bn Resilience and Sustainability Trust will further support reforms that increase countries’ resilience to climate change, they said.
Gulf countries are already taking steps to tackle climate change.
Saudi Arabia and the UAE announced initiatives to reach net zero emissions by the middle of the century as part of their nationally determined contributions in line with the Paris Agreement.
The UAE, the first Arab nation to commit to achieving net zero, aims to reach that milestone by 2050. In line with its initiative to decarbonise, the Emirates plans to invest $160bn in clean and renewable energy sources in the next three decades.
Saudi Arabia aims to offset its domestic emissions by 2060, with the kingdom's state-owned energy company, Saudi Aramco, set to achieve net zero by 2050.
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ABU DHABI CARD
5pm: UAE Martyrs Cup (TB) Conditions; Dh90,000; 2,200m
5.30pm: Wathba Stallions Cup (PA) Handicap; Dh70,000; 1,400m
6pm: UAE Matyrs Trophy (PA) Maiden; Dh80,000; 1,600m
6.30pm: Sheikha Fatima bint Mubarak (IFAHR) Apprentice Championship (PA) Prestige; Dh100,000; 1,600m
7pm: Sheikha Fatima bint Mubarak (IFAHR) Ladies World Championship (PA) Prestige; Dh125,000; 1,600m
8pm: Sheikh Zayed bin Sultan Al Nahyan Jewel Crown (PA) Group 1; Dh5,000,000; 1,600m
Racecard
5.25pm: Etihad Museum – Maiden (TB) Dh82,500 (Turf) 1,200m
6pm: Al Shindaga Museum – Handicap (TB) Dh87,500 (Dirt) 1,200m
6.35pm: Poet Al Oqaili – Handicap (TB) Dh95,000 (T) 1,400m
7.10pm: Majlis Ghurfat Al Sheif – Handicap (TB) Dh87,500 (D) 1,600m
7.45pm: Hatta – Handicap (TB) Dh95,000 (T) 1,400m
8.20pm: Al Fahidi – Rated Conditions (TB) Dh87,500 (D) 2,200m
8.55pm: Zabeel Trophy – Rated Conditions (TB) Dh120,000 (T) 1,600m
9.30pm: Coins Museum – Rated Conditions (TB) Dh95,000 (D) 1,600m
10.05pm: Al Quoz Creative – Handicap (TB) Dh95,000 (T) 1,000m
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blow a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
Keir Starmer failed to give her his backing as she cried but later said she would be in the job for 'a long time to come'.
A spokesman said her upset was due to a personal matter.
Killing of Qassem Suleimani
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
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Company%20profile
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Moonfall
Director: Rolan Emmerich
Stars: Patrick Wilson, Halle Berry
Rating: 3/5
Killing of Qassem Suleimani
The specs: McLaren 600LT
Price, base: Dh914,000
Engine: 3.8-litre twin-turbo V8
Transmission: Seven-speed automatic
Power: 600hp @ 7,500rpm
Torque: 620Nm @ 5,500rpm
Fuel economy 12.2.L / 100km
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
More from Rashmee Roshan Lall
UAE currency: the story behind the money in your pockets
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
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MATCH INFO
What: 2006 World Cup quarter-final
When: July 1
Where: Gelsenkirchen Stadium, Gelsenkirchen, Germany
Result:
England 0 Portugal 0
(Portugal win 3-1 on penalties)
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Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
More on animal trafficking
The five pillars of Islam
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
Haircare resolutions 2021
From Beirut and Amman to London and now Dubai, hairstylist George Massoud has seen the same mistakes made by customers all over the world. In the chair or at-home hair care, here are the resolutions he wishes his customers would make for the year ahead.
1. 'I will seek consultation from professionals'
You may know what you want, but are you sure it’s going to suit you? Haircare professionals can tell you what will work best with your skin tone, hair texture and lifestyle.
2. 'I will tell my hairdresser when I’m not happy'
Massoud says it’s better to offer constructive criticism to work on in the future. Your hairdresser will learn, and you may discover how to communicate exactly what you want more effectively the next time.
3. ‘I will treat my hair better out of the chair’
Damage control is a big part of most hairstylists’ work right now, but it can be avoided. Steer clear of over-colouring at home, try and pursue one hair brand at a time and never, ever use a straightener on still drying hair, pleads Massoud.
