Middlesex University Dubai Symposium 2022 : Souq Economics and Centre for Supply Chain Excellence Present Joint Symposium on Cross-cutting Issues on Economics, Climate Change, and Supply Chain

Middlesex University Dubai’s Souq Economics – Centre for Economics Research and Centre for Supply Chain Excellence is proud to present a Joint Symposium on the Cross-Cutting Issues on Economics, Climate Change, and Supply Chain. The virtual event will be held on January 12, 2022. The symposium will feature invited research papers and industry presentations from internationally renowned researchers and practitioners. All scholars, practitioners, and students across disciplines and fields with interest in economics, supply chain and logistics, and climate change are encouraged to attend. Participation is free of charge.

As the post-pandemic era dawns in the world, a number of critical issues are likely to confront all countries of the world. These issues are re-starting the economic growth engine, re-establishing broken supply chains and mitigating the devastating effects of climate change. Navigating through these issues, and protecting and enhancing welfare of societies is going to test the limits of State capacity and capabilities of governments.

The socio-economic impact of the COVID19 pandemic, supply chain disruptions, and climate change are amongst the top threats facing the world today. While the economic misery of those whose livelihoods were destroyed by the COVID19 pandemic may have disappeared from the headlines, there remain serious unresolved issues. Over and above this, the number of people affected by the now common environmental disasters in many parts of the world is increasing. In the recent UN Climate Change Conference of the Parties (COP26), 197 countries have committed themselves to further accelerating their decarbonization plans and, specifically, to strengthening their emissions-reduction targets. However, the fossil-fuel-driven COVID-19 economic recovery plans could push the world irrevocably off course from the ambitious target to reduce global greenhouse-gas emissions from fossil fuels by 45% by 2030.

Supply Chains have a dual role to play: they are critical in the global economic recovery now underway and are also considered as a ‘game-changer’ in the fight against climate change. Unfortunately, the pursuit of cost minimization for decades led to over-extended supply chains that sought out the most economical inputs and manufacturing locations without much consideration for its environmental impacts. Such global supply chains impose significant social and environmental costs accounting for more than 80% of greenhouse-gas emissions and more than 90% of the impact on air, land, water, biodiversity, and geological resources.

As the world emerges from the ravages of the COVID-19 pandemic, supply chains that were disrupted are still struggling to bounce back while simultaneously addressing their environmental impacts. Supply chain experts have warned that supply chain issues such as clogged ports and widespread shortages of shipping containers could persist for long. On the other hand, economists have warned that the ongoing supply chain constraints could aggravate inflationary risks that may affect the speed of the global economic recovery.

It seems unlikely that the status quo ante will be restored: changes born out of the last few years' experience will mold the future. A coordinated effort is required from governments, environmental agencies, and the private sector to rethink and transform their local and global supply chains to not only accelerate COVID-19 economic recovery but also implement a net-zero supply chain to enable emission reductions across sectors and accelerate climate action. The symposium brings together experts in economics, climate change, supply chain, and logistics to explore issues shaping the post-pandemic world and discuss economic growth conditions that mitigate climate change.