Global leaders rally for urgent climate action as COP29 opens in Baku

Global leaders rally for urgent climate action as COP29 opens in Baku
COP29 is being held in Baku, Azerbaijan. UN Climate Change
Short Url
Updated 11 November 2024
Follow

Global leaders rally for urgent climate action as COP29 opens in Baku

Global leaders rally for urgent climate action as COP29 opens in Baku
  • Azerbaijan’s Minister of Ecology and Natural Resources, Mukhtar Babayev, took over the presidency from Sultan Ahmed Al-Jaber, who led the previous summit in Dubai last year
  • Babayev underscored the critical need for increased funding for climate efforts

RIYADH: Global leaders called for increased funding, more carbon markets, and greater international cooperation to address the escalating environmental crisis, as the 29th UN Climate Summit officially began in Azerbaijan.

During the opening day of COP29, Azerbaijan’s Minister of Ecology and Natural Resources, Mukhtar Babayev, took over the presidency from Sultan Ahmed Al-Jaber, who led the previous summit in Dubai last year. 

In his address at the gathering in Baku, Babayev stated that the world is already experiencing the negative impacts of climate change and stressed the importance of international collaboration to combat these challenges. 

He emphasized that the primary goal of the COP29 presidency is to agree on a fair, ambitious, and collective climate finance target that is both effective and sufficient to address the scale and urgency of the crisis. 

“We understand the political and financial constraints. These numbers may sound big, but they are nothing compared to the cost of inaction. These investments pay off,” he said. 




Azerbaijan’s Minister of Ecology and Natural Resources, Mukhtar Babayev. UN Climate Change

Babayev also highlighted the importance of finalizing Article 6 of the 2015 Paris Agreement, which focuses on the development of carbon markets where countries, companies and individuals can trade greenhouse gas emissions credits. 

That deal called for limiting the global temperature increase to 1.5 degrees Celsius above pre-industrial levels. 

“We are determined to get Article 6 in high-integrity carbon markets over the line. Article 6 is long overdue, and it will help protect the planet by matching buyers and sellers efficiently. We need to get this right, and we need to get this done on time, including transitioning away from fossil fuels in a just and orderly manner,” added the COP29 president. 

Babayev also underscored the critical need for increased funding for climate efforts, urging governments, the private sector, and multilateral financial institutions to collaborate to meet the Paris Agreement’s goals. 

“COP29 is a moment of truth for the Paris Agreement. It will test our commitment to the multilateral climate system. We must now demonstrate that we are prepared to meet the goals we have set for ourselves,” said Babayev. 

He added that the world should accelerate investments in the energy sector today to save tomorrow. 

“We are on a road to ruin. But these are not future problems. Climate change is already here. Whether you see it or not, people are suffering in the shadows. They are dying in the dark, and they need more than compassion, more than prayers, and more than paperwork. They are crying out for leadership and action,” said Babayev. 

He added: “No single country or initiative can solve this crisis. This is everyone’s conference. Success or failure will be collective. Azerbaijan can build a bridge, but you all need to walk across it. In fact, we need to start running. Let us move forward in solidarity for a green world.” 




Babayev took over the presidency from the UAE’s Sultan Ahmed Al-Jaber. UN Climate Change

Impacts of climate change 

During the opening ceremony, Simon Stiell, executive secretary of the UN Framework Convention on Climate Change, warned that global warming is affecting every aspect of human life, urging immediate action to mitigate further damage. 

“Do you want your grocery and energy bills to go up even more? Do you want your country to become economically uncompetitive? Do you really want even further global instability, costing precious lives? This crisis is affecting every single individual in the world in one way or another,” said Stiell. 

He added: “We must agree on a new global climate finance goal. If at least two-thirds of the world’s nations cannot afford to cut emissions quickly, then every nation pays a brutal price.” 

Stiell emphasized that climate finance is not charity but a matter of self-interest for every nation, including the wealthiest. 

“We must work harder to reform the global financial system, giving countries the fiscal space they so desperately need,” he said. 

Stiell also highlighted the importance of finalizing Article 6 and said that international carbon markets will play a crucial role in accelerating the energy transition journey. 

“We need to move forward on mitigation, so targets from Dubai are realized. We mustn’t let 1.5 degrees Celsius slip out of reach. And even as temperatures rise, the implementation of our agreements must claw them back,” said Stiell. 

He noted that clean energy infrastructure investments are expected to reach $2 trillion in 2024, nearly double that of fossil fuels. 

Stiell also emphasized the global responsibility to accelerate the transition to renewable energy and ensure that the benefits are shared by all countries and people. 

“We must agree on adaptation indicators. You can’t manage what you don’t measure. We need to know if we’re on a pathway to increasing resilience. We must continue to improve the new mechanisms for financial and technical support on loss and damage,” he said. 




Simon Stiell, executive secretary of the UN Framework Convention on Climate Change. UN Climate Change

Stiell also stressed the importance of transparency to meet climate goals, with Biennial Transparency Reports, due this year, expected to provide a clearer picture of progress in the climate action journey. 

Stiell added: “Now is the time to show that global cooperation is not down for the count. It’s rising to this moment. So, let’s rise together.”

Journey since COP28 

In a brief address during the opening ceremony, Sultan Al-Jaber, president of COP28, reflected on the successes of last year’s summit, noting the momentum gained through climate initiatives launched in Dubai. 

“By delivering the historic, comprehensive, balanced, and groundbreaking UAE Consensus, we accomplished what many thought was impossible. In the months since COP28, the initiatives we launched have gathered real momentum and pace,” said Al-Jaber. 

He added that the world is set to break another record on renewable energy growth this year, adding over 500 gigawatts to global capacity. 

“Fifty-five companies have now joined the oil and gas decarbonization charter, committing to zero methane emissions by 2030, and net zero by or before 2050,” said Al-Jaber. 

During COP28, nearly 200 countries agreed to work toward an ambitious set of global energy objectives as part of the outcome known as the UAE Consensus, pledging to achieve net zero emissions from the global energy sector by 2050. 

The promise also includes transitioning away from fossil fuels, tripling renewable energy capacity, and doubling the rate of energy efficiency improvements by the end of this decade. 

Al-Jaber, who is also the UAE Minister of Industry and Advanced Technology, stressed the importance of cross-sector cooperation to meet climate goals. 

“Earlier this month in Abu Dhabi, we convened experts in climate, energy, artificial intelligence, finance, and investment in an integrated effort to drive low-carbon growth. When sectors work together, we can lift economies and lower emissions. We can make climate and socio-economic progress together at the same time,” he said. 

Al-Jaber also highlighted the progress of Alterra, the world’s largest global catalytic climate fund, which has already allocated $6.5 billion of its $30 billion fund. 

“We have also made progress on the loss and damage fund. $853 million has been pledged to date. The consensus we achieved in Dubai was truly historic. History will judge us by our actions, not by our words,” said Al-Jaber. 

“Let positivity prevail and let it power the process. Let actions speak louder than words. Let results outlast the rhetoric. We are what we do, not what we say,” he added.


Closing Bell: Saudi Arabia’s TASI closes in red, down 0.97%

Closing Bell: Saudi Arabia’s TASI closes in red, down 0.97%
Updated 10 sec ago
Follow

Closing Bell: Saudi Arabia’s TASI closes in red, down 0.97%

Closing Bell: Saudi Arabia’s TASI closes in red, down 0.97%

RIYADH: The Tadawul All Share Index in Saudi Arabia concluded Wednesday’s trading session at 11,930.45 points, marking a decrease of 117.22 points or 0.97 percent. 

MSCI Tadawul 30 Index also declined 15.60 points to close at 1,500.54 points, a 1.03 percent decrease. 

However, the parallel market Nomu closed the day at 29,205.53 points, reflecting an increase of 95.12 points or 0.33 percent.

TASI reported a trading volume of SR5.540 billion ($1.474 billion), with 52 stocks gaining and 178 falling.

The best-performing stock was Shatirah House Restaurant Co., whose share price surged 10 percent to SR20.24.  

Other top performers include Saudi Cable Co. and Alkhaleej Training and Education Co., whose share prices soared by 5 percent and 4.08 percent to SR88.20 and SR30.60, respectively.

Other top performers include Bawan Co. and Middle East Specialized Cables Co.

The worst performer was Ash-Sharqiyah Development Co., whose share price dropped by 5.18 percent to SR19.40.

Other worst performers were United International Transportation Co. and National Medical Care Co., whose share prices dropped by 3.87 percent and 3.33 percent, respectively, to stand at SR79.50 and SR168.60.

Saudi Tadawul Group Holding Co. was another worst performer, whose share price dropped by 3.08 percent to SR232.60.   

On the parallel market Nomu, Leaf Global Environmental Services Co. was the top gainer, with its share price surging by 8.68 percent to SR98.90.

Other top gainers on the parallel market were Fad International Co. and Al Mohafaza Co. for Education, with their share prices surging by 7.24 percent and 6.04 percent to reach SR81.50 and SR28.10, respectively.

Rawasi Albina Investment Co. and Amwaj International Co. were the other top gainers on Nomu.

Al-Razi Medical Co. was the major loser on this market, as the company’s share price slipped by 7.98 percent to SR47.85.  

First Avenue for Real Estate Development Co. and Obeikan Glass Co. were other major losers on Nomu, with share prices dropping by 6.18 percent and 6.01 percent, reaching SR8.35 and SR49.25, respectively.


GCC banks to remain resilient in 2025 despite anticipated rate cuts: S&P Global

GCC banks to remain resilient in 2025 despite anticipated rate cuts: S&P Global
Updated 29 min 6 sec ago
Follow

GCC banks to remain resilient in 2025 despite anticipated rate cuts: S&P Global

GCC banks to remain resilient in 2025 despite anticipated rate cuts: S&P Global
  • S&P Global predicts a manageable impact on bank margins
  • GCC banking sector’s strong efficiency provides solid foundation for continued growth and resilience through 2025

RIYADH: Banks in the Gulf Cooperation Council region are expected to maintain strong asset quality, profitability, and ample liquidity through 2025, according to a new report by S&P Global.  

The global credit rating agency highlighted the robust performance of the region’s banking sector, which it attributes to solid capitalization and well-managed balance sheets, despite potential challenges from lower interest rates.  

S&P Global said that while the outlook for GCC banks remains positive, heightened geopolitical risks or a sharp drop in oil prices could pose threats to their creditworthiness. However, the agency added that the banks are likely to demonstrate resilience in the face of such adverse scenarios, reflected in their currently high ratings. 

The report forecasts that Brent crude oil will average $75 per barrel from the fourth quarter of the year through 2027, supporting GCC economies.  

“In our view, GCC countries will also benefit from the implementation of economic transformation projects (in Saudi Arabia), the expansion of gas production (in Qatar), reform implementations (in Bahrain and Oman), and the non-oil economy’s good performance (in Bahrain and the UAE),” the report said.
 
Despite expected interest rate cuts by the US Federal Reserve, and mirrored reductions by GCC central banks, S&P Global predicts a manageable impact on bank margins.  

The decline in rates could reduce funding costs and mitigate unrealized losses in securities portfolios, with an estimated margin impact ranging from 20-60 basis points, depending on the country. 

GCC banks maintain strong capitalization levels, which continue to underpin their overall creditworthiness, according to the report.  

Shareholder support has been a key factor, with dividend payouts generally below 50 percent, allowing banks to retain profits and stabilize their capital positions. 

The quality of capital remains robust, with limited reliance on hybrid instruments. However, S&P Global anticipates an increase in hybrid issuance by GCC banks over 2025-2026, as institutions seek to take advantage of lower interest rates and address the first call dates of previously issued instruments. 

“GCC banks are mainly funded by domestic deposits, which have proved stable through periods of mild stress, such as the COVID-19 pandemic and previous instances of geopolitical risk,” the report added. 

It also outlined potential risks stemming from ongoing regional conflicts. 

S&P Global conducted stress tests on GCC banks, analyzing scenarios ranging from modest to severe geopolitical escalations.  

In severe cases, involving broader regional conflict and disruptions to trade routes, the impact could extend to energy prices and macroeconomic stability, affecting both sovereign and banking sector credit metrics. 

S&P Global said despite these challenges, the GCC banking sector’s strong efficiency, driven by low labor costs and increasing digitalization, provides a solid foundation for continued growth and resilience through 2025. 


Saudi National Housing Co. signs 21 new deals on Cityscape’s 2nd day

Saudi National Housing Co. signs 21 new deals on Cityscape’s 2nd day
Updated 13 November 2024
Follow

Saudi National Housing Co. signs 21 new deals on Cityscape’s 2nd day

Saudi National Housing Co. signs 21 new deals on Cityscape’s 2nd day
  • Agreements also included partnerships with leading global companies in the manufacture of electrical appliances
  • REDF signed four MoUs at the event to strengthen partnerships in real-estate financing and investment

RIYADH: Saudi Arabia’s National Housing Co. secured 21 new agreements and partnerships with various local and international companies on the second day of Cityscape, expanding its investment momentum.

The deals aim to enhance the quality of infrastructure and services provided within its urban destinations and include the fields of supply, logistics, and interior design, the Saudi Press Agency reported. 

The agreements contribute to achieving NHC’s aspirations to build integrated and sustainable destinations that meet global ambitions.

The Kingdom’s real estate is vital to the country’s economy, contributing around 7 percent of gross domestic product and supporting numerous additional sectors. 

Among the most prominent of these agreements that support the solutions division, NHC signed a strategic partnership with “Solutions by stc” to develop technical services for the “Sakani” and “Balady” platforms.

It also signed a deal with Sakani Foundation to inspect buildings, with local real estate developer Ardara to assess sustainability, with LX and K-water companies to transfer knowledge, and with 2GIS to provide technical services. 

The firm inked a pact with the Public Investment Fund’s ROSHN real estate company to benefit from Sakani services and assess sustainability. 

NHC also signed an agreement with Takamol in the professional accreditation program to achieve an integrated residential environment that meets the needs of individuals and society. 

The deal comes within the framework of the two companies’ strategy to improve the quality of the residential landscape and enhance constructive cooperation between organizations in the housing sector. This aligns with national efforts to promote sustainable development and deliver suitable housing.

The company also agreed to cooperate with the General Authority for Roads in implementing new routes and their mechanisms in NHC destinations to enhance sustainability. 

NHC also saw a cooperation with Al-Fahhad Co. to develop the cleaning and maintenance system for its destinations.

Additionally, NHC signed a group of investment agreements to implement residential projects and build community centers in its urban destinations with Dar Wa Emaar, Ajdan Real Estate Development, Maya Real Estate Development and Investment, Rashed Abdul Rahman Al-Rashed & Sons Group, and Mohammed Al-Habib Real Estate Co.  

In the supply chain sector, the company signed agreements with local and international companies, including Bahra Electric Co., to provide cables and wires, and Al-Nasser Group to deliver lighting products that are characterized by efficiency and high quality, which enhances energy consumption efficiency.

The agreements also included partnerships with leading global companies in the manufacture of electrical appliances, including Legrand, Panasonic, and Siemens to ensure the provision of high-quality equipment according to the highest technical standards. 

To enhance the efficiency of privacy and security in NHC destinations, the company signed an agreement with Al-Kuhaimi Metal Industries Ltd. to supply metal doors. The step improves the reliability of the destinations and meets the safety and security requirements of residents. 

The partnerships also included an agreement with Al-Hayat Building Materials Co. to supply sanitary ware to improve the quality of interior finishes and provide a distinctive living experience. 

The housing organization also signed a memorandum of understanding with Mask to invest in developing areas and logistics services, which contributes to improving the efficiency of construction and supply operations and enhancing the flexibility of the supply chain. 

Another MoU was also concluded with Madar to provide innovative interior designs that meet the tastes of residents and reflect a distinctive architectural identity that adds a unique character to NHC destinations. 

During the gathering, which kicked off on Nov. 11 in Riyadh and runs until Nov. 14, the Real Estate Development Fund reported that the housing support program and the various financing solutions and advantages it provides in partnership with financing entities recorded a 190 percent growth in financing contracts provided to Sakani beneficiaries.

In comparison, the total value of real estate financing recorded an increase of 225 percent compared to the same period last month, during the first and second days of the exhibition. 

Sakani is a program that facilitates the process of owning a home, offers affordable housing options and helps with financing.

The housing support programs provide a competitive opportunity on the sidelines of Cityscape to enable beneficiaries to sign financing contracts with solutions and advantages, including the lowest profit margin of up to 2.59 percent, in addition to housing support packages that provide immediate non-refundable support of up to SR150,000 ($39.925). 

The results achieved on the first two days of Cityscape in empowering housing support beneficiaries embody the effectiveness of strategic partnerships with financing entities and property development companies. 

The results also reflect the pioneering role of REDF in partnership with financing entities and the movement witnessed by the real estate funding and development sector, which resulted in the diversity of housing products and monetary solutions that achieve the aspirations of support beneficiaries. 

REDF signed four MoUs at the event to strengthen partnerships in real-estate financing and investment.

The MOUs, inked with Jadwa Investment, Value Capital, ANB Capital, and the Knowledge Economic City, aim to support the fund’s strategic goals of helping beneficiaries acquire suitable housing. 
REDF’s Chief Executive Mansour bin Madi said the partnerships will explore opportunities and create investment funds to stimulate real-estate investment and finance housing projects. 

He highlighted REDF’s commitment to working with financial institutions to enable the development of high-quality, affordable housing.

Also happening on the sidelines of the exhibition, Kuwait’s Minister of Municipality and Housing Abdullatif Al-Mishari discussed with Saudi Arabia’s Minister of Municipal and Rural Affairs and Housing Majid Al-Hojail cooperation in the real estate sector. 

The meeting touched on housing experiences and the ministry’s programs, such as housing support, guarantees, and property development, in addition to exchanging visions on expanding construction and supporting real estate developers, said the Saudi minister in a post on X.

He also said they agreed to form a joint working team between the two countries to transfer experiences in several tracks that serve the real estate sector and enhance the integration of efforts to achieve sustainable development in this field.

Also taking place at the event, the Real Estate Registry concluded seven memoranda of cooperation and agreements as part of its efforts to strengthen the relationship and communication with the public and private sectors, establish strategic partnerships with actors in the housing system, and enable technology companies to access property registry data.

The first pact was with the REDF to enhance cooperation and partnership between the fund and the Real Estate Registry to facilitate the journey of the former’s beneficiaries from the latter’s services.

It also signed a memorandum of cooperation with the Hail Region Development Authority to support and accelerate the real estate registration process, and three memoranda of cooperation with Talaat Moustafa Group-Saudi, Al-Majdiah Residence, and Sijil to facilitate the property registration process and improve the beneficiaries’ journey and direct linking with the registry services.

At the level of real estate technology companies, the entity further signed agreements with two property platforms, Nuzul and ReInvest, to enable them to link with registry services, access data, and benefit from it in developing innovative products and services that enrich the sector. 

Cityscape Global 2024 is a testament to Saudi Arabia’s rapid development and commitment to excellence. As the Kingdom positions itself as a global leader in real estate, the global forum will drive the sector to new heights, aligned with the country’s Vision 2030 and its pursuit of creating thriving, sustainable communities.


Global energy sector employment increased by 3.8% in 2023: IEA

Global energy sector employment increased by 3.8% in 2023: IEA
Updated 13 November 2024
Follow

Global energy sector employment increased by 3.8% in 2023: IEA

Global energy sector employment increased by 3.8% in 2023: IEA
  • IEA said the sector added 2.5 million jobs worldwide in 2023
  • It released its study at a time when international leaders have rallied in Baku, Azerbaijan, for COP29

RIYADH: The number of jobs in the global energy sector reached 68 million in 2023, representing a 3.8 percent rise compared to the previous year, according to an analysis. 

In its latest report, the International Energy Agency said that the sector added 2.5 million jobs worldwide in 2023, driven by a wave of investment in manufacturing eco-conscious technologies. 

The IEA released its study at a time when international leaders have rallied in Baku, Azerbaijan, for COP29, where discussions are going on to elevate renewable energy growth globally to tackle climate challenges. 

During the opening ceremony of COP29 on Nov. 11, Simon Stiell, executive secretary of the UN Framework Convention on Climate Change, affirmed the growth of the renewable sector and said that clean energy infrastructure investments are expected to reach $2 trillion in 2024, nearly double that of fossil fuels.

“The global energy sector has been a powerful engine of job growth around the world in recent years, and as the energy system continues to transform and grow, rising demand for skilled energy workers is a given,” said the IEA’s Director of Sustainability, Technology and Outlooks, Laura Cozzi. 

Clean energy sector leading growth

According to the IEA, employment in the clean energy sector increased by 1.5 million last year and contributed as much as 10 percent of economy-wide job growth in the leading markets for clean technologies. 

The report said that the solar PV industry added over half a million new jobs, spurred by record new installations, while employment in electric vehicle manufacturing and batteries grew by 410,000 as sales reached nearly 20 percent of the global car market. 

Even though several wind manufacturers implemented layoffs as rising costs contributed to a slower-than-anticipated offshore project pipeline, total employment in the sector still climbed as a record number of new projects entered construction. 

The IEA said that jobs in the oil and gas supply sector increased by around 3 percent, or 600,000, in 2023 after a period of cautious post-pandemic rehiring, while global coal employment fell for the third year in a row, declining by around 1 percent year on year. 

“Global coal employment fell in both supply and power, largely due to continued mining productivity gains and a slowdown in the pipeline of new coal-fired power plants compared with the highs of the last decade,” said the report. 

Employment in manufacturing vehicles with internal combustion engines rose by 440,000 positions, just outstripping job additions in EVs. 

In China, clean energy made up over 90 percent of energy job growth, while fossil fuels accounted for 80 percent of the gains in the Middle East.

The analysis also said that the growth in energy jobs was led by manufacturing — diverging from previous years when it was generally led by construction and installation. 

“This largely reflects the 70 percent rise in clean energy manufacturing investment in 2023 to $200 billion as firms responded to increasing demand for clean energy technologies and new policies,” added IEA. 

Skill shortage continues in energy sector 

According to the report, shortages of skilled workers remain a major concern for employers looking to hire in the global energy industry.

The IEA said that the lack of skilled workers in many parts of the industry — particularly those requiring high degrees of specialization, such as grids and nuclear power — remains a substantial bottleneck for the sector. 

A survey conducted by the agency found that over 190 energy employers across 27 countries reported plans to hire but had difficulties finding qualified applicants for nearly all occupation categories. 

“Governments, the private sector, and educational and training institutions must work together to improve the hiring pipeline, which will play an important role in shaping our energy future,” said Cozzi. 

The report added that intense competition for talent in clean energy sectors is prompting firms to hire aggressively in anticipation of future growth — a tactic that could prove effective but may also leave some companies exposed to uncertainties related to project flows and changing policies. 

The analysis said many firms facing shortages of qualified applicants are also increasing on-the-job training to deliver these skills. 

According to the IEA, countries transitioning to clean energy are experiencing substantial employment growth in the sector. In 2023, job creation in clean energy accounted for over 10 percent of overall job growth in China and 4 to 6 percent in economies such as the US, EU, and Japan.

The analysis added that clean energy’s share of new jobs is below 2 percent in many emerging and developing economies. 

In September, another report released by the US Department of Energy revealed that the clean energy sector in the country added 142,000 jobs in 2023, representing a rise of 4.2 percent compared to the previous year. 

In October, the Indian government said that the total number of jobs in the country’s renewable energy sector reached over 1 million by the end of 2023, led by hydropower which provides 453,000 employment opportunities in the Asian nation. 

The IEA added that wages in the energy sector are rising, reflecting increasing competition for skilled workers. 

“After real wages fell in many regions in 2022, growth resumed in much of the world in 2023, though absolute wages generally remain below pre-pandemic levels. Wages for energy-specific roles have broadly fared better than those for more generic occupations relevant to the energy sector, notably for technicians,” said the report. 

The analysis revealed that the rising wages in the energy sector are partially a response to skills gaps, as firms aim to attract new workers from within and outside the industry. 

The IEA added that clean energy wage increases were, on average, greater than those in fossil fuels, even in major oil, gas, and coal-producing countries. 

Future outlook

According to the IEA, employment in the energy sector is set to grow by 3 percent in 2024, a slowdown compared with last year due to the impacts of tight labor markets, elevated interest rates, and changes in the expected pipeline of new energy projects.

“While clean energy firms seem set to take more bullish positions on hiring in anticipation of growth, less diversified fossil fuel firms have been remaining cautious for now. As a result, fossil fuel job growth is expected to stall in 2024,” said the agency. 


Agriculture key to climate change mitigation, experts say

Agriculture key to climate change mitigation, experts say
Updated 13 November 2024
Follow

Agriculture key to climate change mitigation, experts say

Agriculture key to climate change mitigation, experts say

BAKU: Agriculture should be a central focus of global efforts to mitigate climate change, experts told Arab News on the sidelines of the COP29 UN climate change conference in Baku, Azerbaijan.

“Agriculture is a victim of climate change because in agriculture we have the most vulnerable and low-income people,” Aditi Mukherji, director of climate change adaptation at the Consortium of International Agricultural Research Centers, told Arab News.

She added: “We have 500 million smallholder farmers who are getting affected by climate change. That is through droughts, floods, extreme rainfall and high temperatures. They’re losing their production. They’re losing their livestock, their crops, everything.”

According to Mukherji, agriculture also contributes to about one-third of overall global greenhouse emissions, and lowering this will reduce pressure on the agricultural system.

“If you take the whole agrifood system, that is from the time of production all the way to consumption and everything in between, like the pre-processing, the processing, the industrial part of it, it contributes about one-third, 33 percent of the global greenhouse gas emissions,” she said.

“One very low-hanging fruit is reducing loss and waste. So, when in the food system, almost one-third of the food is overall wasted or lost in production or during the consumption process. We buy food that we do not eat, reducing that would reach a huge amount of reduction in greenhouse gas emissions,” Mukherji said.

Emissions from agricultural systems can be mitigated if technologies such as solar energy and recycled water are implemented. Abdulrahman bin Shalhoub

Emissions from agricultural systems can also be mitigated if technologies such as solar energy and recycled water are implemented on a wider scale, Maimunah Sharif, mayor of Kuala Lumpur, told Arab News.

“In Kuala Lumpur we are now doing composting and we are also doing urban farming. So, we are encouraging the community to be self-sufficient; we are using the composting and using the small areas in urban farming at the same time, using technology and hydroponics,” Sharif said.

Agriculture in developing countries has suffered from the impacts of climate change. In Senegal, the environmental crisis has led the country to secure food for its population by importing produce from other countries.

Baba Drame, technical adviser on sustainable development at Senegal’s Environment Ministry, told Arab News: “Senegal is a very vulnerable country. As you may know, we are an LDC (least-developed country) and agriculture is one of the most important activities for the development of our country.

“The most important parts of the foods people use in my country are imported from other countries. We do our best in order to develop agriculture, mainly production of rice, corn and so on.

“But we are well affected by climate change because all our food system is based on the rain,” he added.

According to Drame, for the last two years, the rain in Senegal has been irregular, leaving the country facing food insecurity.

Transforming food systems involves rethinking consumption patterns. The global food system is heavily reliant on animal agriculture, which contributes significantly to emissions.

Shifting toward plant-based diets and reducing food waste can dramatically decrease the carbon footprint associated with food production.

“In many parts of the world, particularly in the high-income countries, there is a very high consumption of animal-sourced proteins, and those are very high causes of emissions. So, eating a more sustainable, balanced diet that is plant-based would be a very good source of reducing emissions,” said Mukherji.