Leading the global fight against climate change, UAE President’s $50b investment marks a new milestone: Almheiri

At the Major Economies Forum on Energy and Climate hosted by United States President Joe Biden, the President of United Arab Emirates His Highness Sheikh Mohamed bin Zayed Al Nahyan announced investment of $50 billion to bolster climate change action through use of clean energy solutions in country as well as beyond.

Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment, has noted that this initiative highlights the UAE’s leadership at a global stage, adding yet another milestone in the country’s track record at a world stage while marking a precedence.

Wise leadership that has brought UAE at a global leader’s position

“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. 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,” Almheiri explains.

UAE has introduced roadmaps in line with the Paris Agreement and climate change action

Almheiri further notes that UAE has introduced various roadmaps that are in line with its commitment towards Paris Agreement and action against climate change. This further reiterates the country’s zeal to build a better future and planet for the coming generations.

The various ‘roadmaps’ by UAE include UAE Hydrogen Leadership Roadmap that holds aim to position the country as world’s leading producer and exporter of green and blue hydrogen. This is in line to attain the net zero goal. The other such roadmap is UAE Net Zero by 20150 Strategic Initiative.

Almheiri further added,

“Our country has repeatedly underscored its dedication to developing and implementing long-term strategies aimed at reducing greenhouse gas (GHG) emissions and limiting global warming, as is evident in its Nationally Determined Contribution (NDC).

“Today, as we gear up to host the 28th UN Climate Change Conference (COP28) next year, 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.”

The $50 bn investment by UAE for global fight against climate change

UAE President, also fondly called as MBZ, had made the announcement on Friday as he met with other participating world leaders at the Major Economies Forum on Energy and Climate. There were heads of state from 17 other economies, accounting for 80 per cent of the global GDP.

“I was pleased to participate in the Major Economies Forum on Energy and Climate hosted by President Biden and to emphasise the ongoing importance of peace, unity and meaningful collaboration as enablers of sustainable social and economic development,” Sheikh Mohamed wrote on Twitter.

“The UAE continues to honour its commitments on climate action and is on track to submit its revised NDC.”