UAE’s first net-zero pledge in the region wins applause and suspicion

Dubai, United Arab Emirates – As part of an important but detailed climate initiative announced on Thursday, the United Arab Emirates will invest more than $160 billion to become the first Gulf country to achieve net zero carbon emissions by 2050.

Sheikh Mohamed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, said: “We are committed to seizing opportunities to consolidate our leadership in climate change in the region… Our economy and country are turning to net zero,” the ruler of Dubai.

Although the announcement lacks specific details, it still makes the UAE the first Gulf country to commit to eliminating carbon emissions nationwide. The 2050 goal aligns the UAE with most major global climate commitments and will be achieved before the UN COP26 climate negotiations in November.

“A big step forward and a major challenge,” Robin Mills, CEO of Qamar Energy, an UAE energy consultancy, wrote on Twitter. “Before COP26, it will be welcomed, and there will be some suspicions. But it may be more feasible than some people expected,” he added.

The UAE’s initiative is in line with the Paris Agreement, which calls on countries to develop long-term strategies to reduce greenhouse gas emissions and increase global temperatures by 1.5 degrees Celsius from pre-industrial levels.

The decision may elevate the UAE’s status as it seeks to differentiate itself as a global climate leader in a region still dominated by fossil fuels.The government has also been lobbying to host COP28 Global Climate Summit Held in Abu Dhabi in November 2023.

“As the first net zero carbon commitment in the Gulf region, this is a historic statement,” COP26 Chairman Alok Sharma tweeted. “I expect others in the region to also announce ambitious climate action pledges,” he added.

The first step in the region may also put tremendous pressure on other major fossil fuel producers such as Saudi Arabia to increase domestic ambitions to become part of the solution.

Despite efforts to diversify and establish a green reputation, oil and gas exports remain the key to the UAE’s economy, accounting for 30% of GDP.

The country is also one of the countries with the highest per capita carbon emission rate, despite the anticipated energy transition that has invested more than US$40 billion in clean energy in recent years.

Since oil is still critical to the future of its economy, policymakers will be forced to learn in detail how to actually implement the plan. The Abu Dhabi National Oil Company (ADNOC) still plans to invest heavily in the next few years to increase its oil production capacity to 5 million barrels per day.

Achieving net zero carbon while expanding oil production is likely to comply with United Nations rules, which only consider emissions generated within a country.

Nawal Al-Hosany, Permanent Representative of the UAE to the International Renewable Energy Agency (IRENA), pointed out that her country has invested 40 billion U.S. dollars in domestic clean energy projects and renewable energy projects in 70 other countries Contribution.

“However, we can’t be content to stand still,” Al-Hosany told CNBC. “It’s time to increase the stakes. As we strive to achieve net-zero emissions in the UAE by the middle of this century, we must also be a responsible member of the international community and continue to seek novel, innovative and collaborative ways to do so. Achieve this goal. Make clean energy more accessible, especially for climate-vulnerable communities.”

“The UAE’s Net Zero Strategy Initiative to 2050 announced today reflects the vision and vision of our wise leadership and continues the UAE’s tradition of providing incremental solutions to global problems,” said Sultan Al Jaber, Minister of Industry and Advanced Technology and Special Affairs. Four representations. Special Climate Envoy and CEO of ADNOC.