UAE President’s $50bn commitment to scale up climate action over the next decade is ‘yet another milestone’

UAE President’s $50bn commitment to scale up climate action over the next decade is ‘yet another milestone’

Posted on 20 June 2022

Mariam bint Mohammed Almheiri, the UAE Minister of Climate Change and Environment, shared her thoughts on Sheikh Mohamed bin Zayed’s recent announcement at the MEF global forum

The UAE is doubling down on efforts to address climate change and accelerate the global energy transition.

The UAE President Sheikh Mohamed bin Zayed pointed to the UAE’s investment of more than $50 billion in renewable energy projects across 40 countries, while announcing plans to invest an additional $50 billion over the next decade.

The announcement, which was made at the Leaders Meeting of the Major Economies Forum on Energy and Climate (MEF), is “yet another milestone in the UAE’s long track record spanning close to three decades,” said Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment. 

Almheiri added: “Due to the future-oriented vision of its wise leadership, the UAE has joined the ranks of countries at the forefront of the fight against climate change. 

In line with its commitment towards climate action and the Paris Agreement, the UAE has introduced multiple roadmaps along the way that reaffirm its keenness to build a sustainable future for the next generations. 

“We have issued environmental protection laws and strategies and rolled out relevant initiatives. We have also adopted a proactive approach to promoting clean energy solutions as the sustainable, alternative energy sources of tomorrow.”

These include the UAE Hydrogen Leadership Roadmap that seeks to position the country as a leading producer and exporter of green and blue hydrogen in the pursuit of net zero, and the UAE Net Zero by 2050 Strategic Initiative.

The UAE is gearing up to host the 28th UN Climate Change Conference (COP28) next year, and “we remain determined to enhance environmental protection, advance government agendas, and boost the participation of the private sector through driving innovation and developing cutting-edge climate-smart technologies in the agriculture and food sectors to conserve natural resources.”

At the Leaders Meeting of the Major Economies Forum on Energy and Climate (MEF), Sheikh Mohamed bin Zayed joined heads of state from 17 major economies – accounting for 80 percent of global GDP, population and greenhouse gas emissions.

In has address, he acknowledged that climate change is an issue of grave importance and must be addressed through collective cooperation, because if left unabated, the impacts of climate change will come at a great cost to people, the planet and the global economy.

During the MEF meeting, U.S President Biden urged leaders to maintain climate action as a top priority on the global agenda, against the backdrop of geopolitical instability and its repercussions on energy and food security. 

The UAE has emerged as a regional leader in renewable and clean energy investments both domestically and internationally, as the first in the region to deploy peaceful nuclear energy and home to three of the largest and lowest cost solar plants in the world.

SOURCE: arabianbusiness.com

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