Global Climate Strategy in Focus as COP28 Unfolds in Dubai Amidst Dire Economic Warnings for the Arabian Peninsula

Dubai, 11th December 2023: The 28th United Nations Climate Change Conference or Conference of the Parties of the UNFCCC, more commonly referred to as COP28 is currently underway in Dubai, marking the first time since 2012 that the Gulf nation has hosted the event. While global leaders convene to discuss a collective strategy for combating climate change, a study by Christian Aid sheds light on the severe economic repercussions the Arabian Peninsula could face if climate action is not taken urgently.

The study, titled ‘Mercury Rising: The Economic Impact of Climate Change on the Arabian Peninsula,’ warns that if global warming reaches three degrees Celsius by 2100, the Arabian Peninsula’s GDP could suffer an average loss of 69 per cent. Both UAE and Saudi Arabia, hosts of COP28, could face an alarming 72 per cent loss in GDP.

Delegates at COP28 are deliberating a global phase-out of fossil fuels, with Greenpeace MENA emphasizing the region’s vulnerability, stating it could become “uninhabitable.” The report reveals that Gulf countries currently have the highest per capita carbon dioxide emissions globally.

The report outlines economic projections based on different temperature rise scenarios. If global warming is limited to 1.5 degrees Celsius, the GDP loss for the Arabian Peninsula is estimated to be -8.2 per cent by 2050 and -36 per cent by 2100. However, if temperatures rise by 3 degrees Celsius, the average loss spikes to -69 per cent by 2100.

Shady Khalil from Greenpeace urges a just and equitable phase-out of fossil fuels, emphasizing the urgent need for renewable energy adoption. Marina Andreevich, lead researcher, underscores the regrettable connection between global warming and oil and gas burning in the region.

Experts like Messam Kadradan and Joab Okanda stress that climate change is already causing economic harm and that the phasing out of fossil fuels is crucial. Joanna Hay points out the Gulf region’s vulnerability and the potential for serious climate challenges.

The report concludes with a nod to Sheikh Ahmed Zaki Yamani’s prophetic words in 2000, emphasizing that the age of oil will end, not due to scarcity, but as a necessary response to the climate crisis.

As COP28 unfolds, the global community faces a critical juncture, with the Arabian Peninsula serving as a stark reminder of the urgent need for decisive climate action.