UAE, US pledge joint effort to finance decarbonisation
Joint statement commits to tackle climate challenge, stresses the importance of raising global climate ambition
The UAE and the US announced their commitment to tackle the climate challenge in a joint statement that stresses the importance and urgency of raising global climate ambition. Both countries announced their intent to cooperate on new investments in financing decarbonisation across the MENA region and beyond, and to focus on assisting the most vulnerable adapt to the effects of climate change.
Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and the UAE’s Special Envoy for Climate Change, said: "Together with the US, the UAE has affirmed that decisive, proactive climate action can be an engine for economic growth and sustainable development. Building on the legacy and experience of the UAE, which has demonstrated a longstanding commitment to sustainable development and today operates three of the world’s largest solar facilities, we will focus, together with the US, on joint efforts on renewable energy, hydrogen, industrial decarbonisation, carbon capture and storage, nature-based solutions, and low-carbon urban design."
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He added: "The UAE is rich in opportunities with the world’s lowest solar power costs, and significant carbon capture investments. We look forward to sharing our experience with the international community to turn climate action into economic opportunity."
Noting the progress made by many leading companies, both countries agreed to work closely with the private sector to mobilise the necessary investment and technology resources needed to stem the climate crisis and support the economy.
At the national level, the US and the UAE confirmed their intent to work towards decarbonising their economies according to their national circumstances and economic development plans, including reducing carbon emissions by 2030.
The US and the UAE stressed their commitment to the implementation of the Paris Agreement and promote the success of the 26th United Nations Climate Change Conference of the Parties (COP26) in Glasgow.
The Joint Statement emerges from the UAE Regional Dialogue for Climate Action held on April 4 that convened climate leaders from across the MENA region and unveiled a new era of cooperation in the region for a future focused on prosperity through climate policy, investment, innovation, and sustainable economic growth.
The Dialogue drew the participation of high-level dignitaries from across the region as well as critical global partners and organizations. Participants included COP26 President-Designate Alok Sharma, US Special Envoy for Climate John Kerry, together with ministers and high-level representatives from the UAE, Oman, Kuwait, Bahrain, Qatar, Egypt, Jordan, Morocco, Iraq, Sudan and the International Renewable Energy Agency (IRENA).
According to the US-UAE Joint Statement, decisive action on climate change can be an engine for economic growth and sustainable development.
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