ABU DHABI, 14th January, 2023 (WAM) — On behalf of His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, Minister of Industry and Advanced Technology and the 28th President-elect Dr. Sultan Ahmed al-Jaber at the United Nations Climate Change Conference (COP28), addressing the 13th session of the International Renewable Energy Agency (IRENA) General Assembly.
In his speech, Dr. Al Jaber reaffirmed the UAE’s full support for advancing IRENA’s mission and stated that the UAE will continue to be its closest partner and staunchest advocate. He noted that no industry offers as much potential as renewable energy, and that IRENA’s mission has never been more relevant than in the crucial years of our future.
“Since its inception, IRENA has paved the way for the extraordinary growth in renewable energy capacity we have seen around the world. IRENA has been at the forefront of this growth, guiding supportive policies and encouraging new technologies that reduce costs.
“Renewables accounted for 81% of all new energy capacity last year. The industry is now heading for expansion over the next five years, more than the past two decades combined. Wind and solar are now the most affordable new sources of energy, the economic case It’s been proven.”
“Over the next seven years, we need to more than triple global renewable energy generation. The world must move much faster than ever before. IRENA plays a role in leading the global acceleration across all sectors, in all regions and in all communities.” key role,” said Dr Al Jaber.
To keep up with the scale and speed of change, IRENA will need to adapt and innovate, said Dr. Al Jaber. He cited the Energy Transition Accelerator Funding Facility (ETAF) launched during COP 26 as a good example, noting that the UAE has pledged an initial USD 400 million to support the platform, helping to provide emerging economies with funds.
Dr Al Jaber went on to share insights on how the UAE can benefit from being a first mover in renewable energy.
“Seventeen years ago, we launched a program to explore its potential, and the benefits were immediately apparent. We built the world’s largest and lowest-cost solar array, which is the foundation of our path to net zero. We’ve also invested $50 billion in renewable energy on six continents around the world. Through these investments, we see that you can contribute to climate and growth.”
“IRENA has been a supportive guide throughout this journey and continues to show us the way. Our aim at COP 28 is to leverage IRENA’s partnership and support for the good of the world. Together with IRENA, the UAE will champion innovation and The ambition to transform the global energy system. We will propose transformative solutions based on science and facts, policy support and industry endorsement. In short, we will spare no effort in the pursuit of inclusive climate progress,” said Dr Al Jaber.
In closing, Dr. Al Jaber opened an invitation for partnerships and collaborations to create a paradigm shift to make real progress and help ensure that COP 28 UAE achieves the climate transition needed.
The IRENA Congress brings together Heads of State/Government, ministers and energy policymakers from member and acceding countries, as well as multilateral organisations, global stakeholders and private Actions for the energy transition in the region and the world.