{"id":83103,"date":"2024-03-19T00:00:00","date_gmt":"2024-03-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/03\/19\/most-climate-change-indicators-are-threatening-menas-economic-growth-arab-monetary-fund-finds\/"},"modified":"2024-03-19T00:00:00","modified_gmt":"2024-03-19T00:00:00","slug":"most-climate-change-indicators-are-threatening-menas-economic-growth-arab-monetary-fund-finds","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/03\/19\/most-climate-change-indicators-are-threatening-menas-economic-growth-arab-monetary-fund-finds\/","title":{"rendered":"Most climate change indicators are threatening MENA\u2019s economic growth, Arab Monetary Fund finds"},"content":{"rendered":"

<\/strong>Most climate change indicators \u2014 including carbon emissions and land cover alterations <\/strong>\u2014 pose a serious risk to economic growth in the MENA region<\/strong>, according to a new study (pdf)<\/a> by the Arab Monetary Fund (AMF). The study focused on twelve countries, including Algeria, Bahrain, Comoros, Egypt, Iraq, Lebanon, Mauritania, Morocco, Oman, Saudi Arabia, Tunisia, and the UAE and used data spanning from 2010 to 2019. Researchers used the Generalized Methods of Moments \u2014 a statistical technique used to estimate parameters in econometric models<\/a> \u2014 to analyze the data. <\/p>\n

The Arab region is hit harder than others by climate change<\/strong>:<\/strong> Existing issues within the region are exacerbated by the effects of climate change, with already high temperatures rising further and water scarcity projected to have severe economic ramifications, including substantial losses in GDP and displacement of populations, the report said.<\/p>\n

Carbon emissions are to blame:<\/strong> The region\u2019s average atmospheric CO2 concentration was 400.4 parts per million (ppm) across the recorded observations \u2014 lower than the record high average of 421 ppm recorded globally in 2023<\/a> \u2014 and reached a high of 411.7 ppm. High levels of global CO2 emissions, typically linked to industrialization and fossil fuel use, contribute to environmental challenges like air pollution and climate change which negatively impact ecosystems and agriculture, posing high risks to economic growth, according to the AMF.<\/p>\n

Land cover alterations hindered growth:<\/strong> Land cover \u2014 the type of physical land<\/a> on Earth\u2019s surface such as forests or open water \u2014 has changed significantly in the Arab region thus exacerbating climate change. The countries studied have reached a mean of 99.7 on the International Monetary Fund\u2019s climate altering land cover index<\/a> which equates a higher score with more land changes \u2014 such as increased urbanization and construction. Minimum and maximum levels were 75.9 and 111.8 respectively across Arab countries. Changes in land cover have been found to impact greenhouse gas (GHG) flow and increase atmospheric particle concentration, and energy and water flows<\/a> which has a negative effect on economic growth.<\/p>\n

Surface temperature had little impact<\/strong>:<\/strong> The study found a negative correlation between surface temperature changes and economic growth rates in the selected Arab countries, which suggests that rising temperatures that are associated with severe weather events and rising sea levels could adversely affect sectors like agriculture, tourism, and insurance. The impact however was shown to be statistically insignificant due to the prevailing semi-arid to arid climate conditions in most of the countries studied. <\/p>\n

A<\/strong>nd precipitation changes<\/strong> also didn\u2019t make a dent: <\/strong>Annual precipitation \u2014 which were 340.6 mm per year with minimum and maximum values of 10.9 mm and 2761.3 mm respectively \u2014 had a positive but insignificant effect on economic growth, mainly due to the relatively low reliance on the agricultural sector in most Arab countries, particularly those in the GCC region.<\/p>\n

Stronger efforts to mitigate climate change are needed for economic growth<\/strong>:<\/strong>Addressing climate change's adverse effects is crucial for sustainable development. Policymakers should implement policies promoting renewable energy, eco-friendly transportation, afforestation, green building standards, and sustainable farming practices in the region, the report concluded.<\/p>\n","protected":false},"excerpt":{"rendered":"

Rising carbon emissions and land cover changes are the main issues.<\/p>\n","protected":false},"author":1,"featured_media":83104,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[59],"tags":[57,155,11,58],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-83103","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-macro-picture","tag-climate-change","tag-emissions","tag-enterpriseclimate","tag-macro-picture","wpautop","entry"],"acf":{"mongo_id":"d1b718bd-3053-4f63-8ad1-4605ed1c8e9d","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/1661.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Most 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