Net zero drive to boost green economy in UAE, minister says

Reuters file photo
Reuters file photo

Abu Dhabi - Initiative was designed to integrate work of key government and private sector entities to prepare and implement sustainability plan.

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By Wam

Published: Mon 25 Oct 2021, 10:52 PM

The UAE has been leading climate efforts and setting a benchmark for climate ambitions.

The launch of the UAE Net Zero by 2050 Strategic Initiative in early October looked at advancing economic diversification, while protecting the environment.

Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment, said: “With the unprecedented rise in the frequency and scale of climate change impacts seen today, net zero has become a necessity, and countries can either sink or swim.

“Being the first country in the region to take such a step will give us a first-mover advantage to become a regional leader in the low-carbon economy. We will bring all hands on deck and leverage our net-zero drive to boost green economy. We have committed to investing $160 billion in clean and renewable energy projects by 2050.”

The UAE Net Zero by 2050 Strategic Initiative was designed to integrate the work of key government and private sector entities to prepare and implement an inclusive sustainability plan for all sectors that will set the course for net zero without compromising the country’s economic potential.

The Ministry of Climate Change and Environment (MoCCAE) is leading and coordinating efforts to execute the initiative and ensure collaboration at national level to fulfil this objective. Stakeholders in vital sectors, such as energy, economy, industry, infrastructure, transport, waste, agriculture, and the environment, will update relevant plans, strategies, and policies, and implement projects to achieve net zero by 2050, in line with their needs and growth requirements.

The contribution of private sector actors is more important than ever to help the UAE become climate-neutral by mid-century, adapt to the impacts of climate change to protect communities and natural habitats, mobilise finance, and deliver on its climate goals faster. MoCCAE is currently working with private sector entities nationwide to scale up their participation in the efforts to reduce greenhouse gas (GHG) emissions and ensure they are resilient in the face of climate change.

One of the main enablers of a net-zero goal is the deployment of clean energy at scale. Having invested over $40 billion in local clean energy ventures to date, the UAE is on track to generate 14 GW of carbon-free power by 2030.

The UAE has joined forces with the US to launch the Agricultural Innovation Mission for Climate (AIM4C) at COP26. The initiative seeks to increase investment in agriculture innovation and R&D for climate-smart food systems over the next five years.

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