UAE, a leading example for its commitment towards environmental protection and climate action
The announcement by President His Highness Sheikh Mohamed bin Zayed Al Nahyan of plans to invest an additional $50 billion to scale up climate action through the deployment of clean energy solutions at home and abroad, according to Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment, is yet another milestone in the UAE’s nearly three-decade-long track record.
The statement came during the UAE President’s participation in the Leaders Meeting of the Major Economies Forum on Energy and Climate on June 17.
According to a report by Standard Chartered, the UAE will require Dh2.5 trillion ($681 billion) in investment to finance its transition to a net-zero economy.
The bank had warned that emerging markets will need to invest an additional Dh350 billion to get to net zero in time to satisfy long-term global warming targets. This is in addition to the funds already set aside by governments as part of their present climate programmes.
“The UAE is ideally positioned to benefit from the significant economic opportunities presented by the path to net zero emissions. To achieve this goal, a strong focus on guaranteeing economic prosperity during the transition process, as well as a significant amount of investment, will be required “Rola Manneh, Standard Chartered UAE’s chief executive, stated.
The UAE is working hard to minimise its carbon footprint, and was the first government in the Middle East to establish a net-zero objective last year. The UAE wants to invest $160 billion in clean and renewable energy sources over the next three decades in order to attain carbon neutrality by 2050.
According to the Standard Chartered report, if the UAE receives the financing it needs to move to net zero, household expenditure in the country may grow by nearly Dh2 trillion compared to self-financing.
Household consumption in emerging economies might fall by 5% on average per year if they fund their own transformation without the help of developed countries, according to the report.
The bank stated that private investors can provide more than Dh300 trillion of the Dh350 trillion needed for the energy transition, “underscoring the critical need for financial institutions to fulfil green and transition finance promises.”
However, increasing investment in emerging countries is a challenging challenge, and the report states that “in order to transition in the most equitable way feasible, greater collaboration in strategy, policy, and funding is essential.”
“More crucially, if regular consumers are to avoid absorbing the costs of their market’s transition to net zero, banks must keep their promises made during Cop26.”
Measures taken by UAE to protect the marine environment
With 16 marine protected zones, the UAE has maintained its global leadership in this field. The country’s total protected area coverage increased from 15.07 percent in 2019 to 15.53 percent in 2020, accounting for 18.4 percent of the country’s terrestrial territory and 12.01 percent of its maritime territory.
The UAE has joined the Global Ocean Alliance, a coalition of 32 countries striving to protect the ocean and enhance the lifestyles of coastal populations, which was founded by the United Kingdom. By 2030, the Alliance wants to protect at least 30% of the world’s seas through marine protected areas. The United Arab Emirates is the first Middle Eastern country to support the goal.
Abu Dhabi is replanting mangroves in the fight against climate change
Abu Dhabi, a coastal metropolis, is one of the most vulnerable areas on the planet to the effects of climate change. Rising sea levels threaten it, and academics warn that if global warming trends continue, it may become too hot to live in by the end of the century.
However, trees are assisting the city in combating the climate catastrophe. By forming buffer zones and regulating tides, mangroves — woody, salt-tolerant trees that grow along tropical coastlines — protect coastal communities from erosion, wave surges, and floods.
“Mangroves operate as a carbon capture or carbon sink by trapping carbon dioxide from the atmosphere into the root system and sediments,” noted Amna Al Mansoori, a marine ecosystems scientist at EAD.
According to a study conducted by Abu Dhabi’s government, one hectare of mangrove forest can store roughly 3,754 tons of carbon. That’s the same as removing 2,651 cars from the road for a year. The UAE has some of the world’s highest CO2 emissions per capita.
Turtle conservation is a global effort, and the UAE is committed to safeguarding these magnificent creatures. The Arabian Gulf is home to a diverse array of marine species, including turtles. Hawksbill and green turtles are two varieties of marine turtles regularly encountered in these areas.
Alternatives to single-use plastic bags in UAE
Abu Dhabi has banned the use of plastic bags, while Dubai will introduce a charge of 25 fils ($0.06) for single-use bags from July 1. The necessary levy will be imposed on all single-use bags that are 57 micrometres thick and made of plastic, paper, biodegradable plastic, and plant-based biodegradable materials, according to Dubai (a micrometre is one-thousandth of a millimetre).
They have introduced various replacements for plastic bags such as reusable plastic bags, jute bags, canvas tote bags, key-ring tote bags, paper bags and mesh bags.
Emirates Green Building – A major supporter in consolidating the pillars of sustainable cities in the region
His Excellency Dr. Ali Al Jassim, Chairman of the Emirates Green Building Council, confirmed that the world’s attention will turn to the UAE for hosting the United Nations Conference on Climate Change (COP28), which will be held in Abu Dhabi in 2023, particularly because the UAE surprises the world with its initiatives and initiatives, stating that state establishments have proactive initiatives that care in regards to the setting.
He stated that sustainability and climate change are intertwined in order to achieve carbon neutrality, and that there are a lot of projects underway in this area, including the UAE Strategic Vision 2050. Follow the model that will take place in the Arab Republic of Egypt at the end of the year.