UAE and Saudi Arabia hit hardest by climate change, $29 trillion in losses

Dubai, November 30, 2023, Thursday

A global conference on climate change is underway in Dubai, UAE. The convention, known as COP 28 Climate Change, focuses on warning and measures against the threat of climate change. According to the information received, the climate change is having the highest impact on the UAE and Saudi Arabia, where the climate change convention has been held. Dubai is paying the highest cost of global warming in the world. The Air Report, produced by the University of Delaware's Climate Change Hub, calculates how loss and damage is caused by climate change. Keeps track of climate change statistics from all countries of the world.

According to the report, the highest loss of 29 trillion dollars due to climate change is happening to Saudi Arabia and UAE. African countries have lost 8.1 percent in terms of GDP and population in 2022. What is surprising is that European countries benefited from climate change instead of losing it, amounting to 4.7 percent of GDP. The lack of freezing cold in winter has reduced the energy consumption for heating and the interest rate due to the cold has also drastically reduced. The GDP of developed countries has lost as much as 8.3 percent.

Deadly heat, increased energy consumption in cooling due to wet bulb temperatures, crop losses due to shortages are the biggest negatives. Global GDP loss of 1.8 percent or 1.5 trillion dollars due to climate change. 2.1 trillion in capital losses due to climate change in low- and middle-income countries. Combining GDP and capital losses, low- and middle-income countries have lost $21 trillion since the 1992 Rio Convention. In 2022, a total of more than 2090 billion dollars in manufactured capital losses have been incurred. The world has suffered a net GDP loss of 1818 billion dollars.