Event Details
GCC countries have invested heavily in infrastructure, but it is only recently that climate change considerations have become a priority consideration in planning. The region's geographic location, poor water availability and high temperatures all pose risks to the sustainability of its economic model. The floods that occurred in April 2024 were the worst in 75 years and exposed the inadequacy of drainage systems for absorbing high rainfall.
The overall impact of climate change has left Middle Eastern states more prone to both water scarcity, which the UAE and Saudi Arabia in particular have addressed with large-scale desalination and water management efforts, and extreme weather events, including spells of even higher and more prolonged extreme heat than the region is already accustomed to.
More frequent and more severe weather events, including storms and flooding caused by changing climatic conditions, are expected. Meteorological authorities assess that annual precipitation will rise by an average of 15-30% over the rest of the century in countries accustomed to low rainfall and arid conditions.
Damage to infrastructure from extreme weather events would cause severe disruption to the regional economic models, as well as important tourism, transport and logistics operations.
The UAE has earmarked substantial investment for climate change-related and green transition projects, but firms should ensure that they also align with and enforce any new regulations relating to sustainability or climate metrics, which may also include retrofitting older buildings and capital stock.
The floods of April 2024, caused by the highest-ever rainfall recorded in the UAE, are still fresh in the memory for those regional businesses and households that were affected by disruption, loss, and damage. Hence, at this event, we will explore the true costs of climate change, and how businesses can increase their resilience and preparedness for extreme weather events.
Join us on 20 February at the Westin Mina Seyahi for a timely EICN event: Preparing for Climate Change and Extreme Weather Events, sponsored by Watania Takaful.
Expert speakers including urban planners, insurers, and transport and water management companies will part the clouds and shed light on a plethora of ways to mitigate the effects of extreme weather events in the region.
Please note that this event is limited to senior-level executives and per invitation only. If you are not an existing member of The Economist Intelligence Corporate Network, but would like to learn how you can attend our events, please contact us.