A new report, “Mercury Rising,” warns that the UAE’s GDP could face a 72% reduction due to the impact of fossil fuel-led temperature increases. Marina Andrijevic, an economist at the International Institute for Applied Systems Analysis, led the analysis, revealing potential average GDP hits of 69% for Gulf countries by 2100 with a 3-degree Celsius temperature rise.
Economic Impact on COP28 Hosts
If global temperatures are limited to the Paris Agreement’s 1.5-degree target, the UAE and Saudi Arabia still risk a 72% GDP reduction. By 2050, GDP could drop by minus 8.2%, and by 2100, it might plummet by minus 36%. The report underscores the pressing need for a fossil fuel phase-out to address the region’s vulnerability.
High Emissions and Urgent Call for Action
The study unveils the region’s high per capita emissions, with an average UAE resident responsible for 25.8 tons of CO2 annually—645 times more than Congo’s average. Greenpeace MENA’s Shady Khalil calls for a just and equitable phase-out commitment at COP28, emphasizing the global impact on future generations.
COP28’s Crucial Role in Mitigation
Lead researcher Marina Andrijevic highlights the irony of climate harm originating from oil and gas produced in the Arabian Peninsula. Urging a fossil fuel phase-out, Andrijevic states it is COP28’s most significant achievement for emission reduction and climate change reversal. Christian Aid’s Joab Okanda emphasizes the urgent need to end fossil fuel growth, particularly in one of the world’s major oil-producing nations.
In conclusion, the report urges COP28 attendees to prioritize fossil fuel elimination for the sake of the UAE’s economic resilience and global climate stability. The event serves as a pivotal platform to address the critical need for transitioning to renewable energy sources and mitigating the impact on vulnerable regions worldwide.
Source: punjabnewsexpress.com
