UAE President highlights link between sustainable development, climate action

DUBAI: President His Highness Sheikh Mohamed bin Zayed Al Nahyan underscored a sustainable economy at the Major Economies Forum (MEF) Energy and Climate Change Virtual Conference, chaired by US President Joe Biden The importance of development and its link to climate action. “Sustainable economic development and climate action are closely linked and are critical to ensuring a better quality of life for all,” he said.

Sheikh Mohammed emphasized that the UAE has placed climate action at the heart of its strategy, saying, “We have invested more than US$150 billion in climate action and have ambitious plans for further investment in this area in the future.” He Noting also the UAE’s commitment to reduce emissions across all economic sectors by 2030 and achieve climate neutrality by 2050, he said, “The UAE is the first Gulf state to ratify the Paris Agreement and the first country in the region to commit to reducing emissions. All sectors of the economy by 2030.”

As host of COP28, the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change, the UAE is committed to transformative climate action. President Sheikh Mohamed said, “The UAE Presidency of COP28 will commit to transformative climate action, moving from deliberation to action and developing a comprehensive action plan that benefits all people and the planet.”

President Sheikh Mohamed also highlighted the need for international cooperation and financing to support the energy transition and address the impacts of climate change, especially in the global South and vulnerable communities. Calling for increased renewable energy capacity and doubling hydrogen production, he said: “Energy and climate change are closely linked. The world must accelerate its logical, realistic and balanced transition in the energy sector.”

Sheikh Mohammed extended an invitation to the world to join the UAE’s efforts and initiatives aimed at making significant progress on climate action, expressing his confidence in the world’s positive response. He also called on developed countries to honor their commitment to provide US$100 billion to developing countries and reform international financial institutions to secure the necessary financial support for climate action.