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ABU DHABI, 20th January, 2023 (WAM) — President His Highness Sheikh Mohamed bin Zayed Al Nahyan has declared 2023 as the UAE’s Year of Sustainable The crowning of major efforts in climate and environmental protection marks a turning point in driving global efforts to support climate action and pave the way for COP28.
Since forming the alliance in the 1970s, the UAE has had an inspiring journey in protecting the environment and has invested considerable energy in climate action, beginning with the signing of the Montreal Protocol on Substances that Deplete the Ozone Layer in 1989.
In the early 1990s, there was a global consensus to launch the United Nations Framework Convention on Climate Change, to which the UAE joined in 1995 to fulfill its responsibility to support this important movement.
Subsequently, international debate and legal obligations related to climate action progressed, leading to the Kyoto Protocol binding developed countries to commit to reducing greenhouse gas emissions. In 2005, the UAE ratified the agreement launched under the agreement.
In 2015, the UAE joined the Paris Climate Agreement, marking progress towards climate action goals focused on combating global warming and reducing greenhouse gas emissions.
A pioneer in advancing the sustainable development agenda, the UAE was the first country in the region to ratify the Paris Agreement and announce a climate-neutral strategic initiative, the UAE’s net-zero emissions by 2050.
The country also believes that the global energy transition can only be achieved if the international community works together. The need for cutting-edge and commercially viable innovations in the energy sector indicates the need to invest in clean energy solutions that are widely available.
2006 marked a turning point in the country’s climate action efforts with the launch of Abu Dhabi Future Energy Company (Masdar), the UAE’s global model for clean energy and sustainable development.
Masdar is currently active in more than 40 countries on six continents, with an investment of more than US$30 billion in international projects.
The total capacity of the Masdar projects, both operational and under development, exceeds 20 gigawatts (GW), enough to power 5.25 million homes and help reduce CO2 emissions by more than 30 million tons per year, equivalent to 6.5 million cars left the road.
Masdar is entering a new phase with ambitious and bold goals, and it is currently backed by three leading UAE energy companies. They are Abu Dhabi National Oil Company (ADNOC), Mubadala and Abu Dhabi National Energy Company (TAQA), which will enable Masdar to benefit from the expertise of its partners and promote its and the status of a global pioneer company in the energy sector. green hydrogen.
Masdar will help accelerate the pace of development under its new structure as the UAE prepares to host COP28. Furthermore, it will support the country’s commitment to become one of the world’s leading developers and operators of renewable energy and green hydrogen.
Masdar aims to have a portfolio of projects with a combined capacity of over 100 GW by 2030, with plans to double its capacity over the next few years, while also seeking to produce 1 million tonnes of green hydrogen by 2030 through its green hydrogen business. hydrogen.
Abu Dhabi Sustainability Week 2023, which concluded yesterday, helped reinforce the UAE’s commitment to address international challenges and reinforce its pioneering role in strengthening climate action.
ADSW also helps foster effective dialogue and translate commitments into tangible outcomes for a carbon-free future for sustainable progress on climate action.
What’s more, COP28 will be the most important multilateral event hosted by the UAE, working with the international community to help pave the way for achieving the 1.5°C temperature reduction target.
The UAE continues to increase investment in the clean energy sector locally and globally by strengthening cooperation with developed countries and expanding its global investment portfolio to support affected countries by mitigating the impacts of climate change, helping countries adapt to and limiting climate change. The resulting loss and damage to affected communities.
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