The Arab region is one of the regions most heavily impacted by worldwide climate changes.
Major Contributors: Increased CO2 levels and land cover changes mainly drive climate-related economic impacts.
Arab countries are encouraged to adopt comprehensive strategies to combat the effects of climate change.
Investment in renewable energy, promoting eco-friendly transport, expanding green spaces, and encouraging sustainable farming practices are key to mitigating negative impacts and promoting sustainability.
The Arab Monetary Fund (AMF) has published an economic study titled "Climate Change and Economic Growth in Arab Countries”. This comprehensive research investigates the impact of climate change on the economic prosperity of twelve Arab countries from 2010 to 2019, using advanced econometric models to analyze data on surface temperature, carbon dioxide concentrations, land cover changes, and annual precipitation.
Key findings reveal that climate change hampers economic growth in the region, with carbon dioxide levels and land cover changes identified as major contributing factors. The study underscores the urgent need for Arab nations to adopt and implement robust policies and strategies to mitigate the adverse effects of climate change to ensure sustainable economic growth.
Considering these findings, the study recommends a multi-faceted approach that includes investing in renewable energy, promoting eco-friendly transportation, enhancing green cover through afforestation and reforestation efforts, in addition to encouraging sustainable farming practices that conserve water, reduce soil erosion, and promote responsible land use.
The full study is available for stakeholders and the public, providing valuable insights into the economic implications of climate change and guiding policymaking in the Arab region toward sustainable development paths.
For More Information:
Visit the AMF website or contact the Economic Department at the Arab Monetary Fund for additional details and access to the study.