Dubai: The United Arab Emirates will focus on bolstering global efforts to mitigate carbon emissions and make funds available to finance green projects, a top official said, as the country prepares to host a major climate conference this year.
The UAE is keen to ensure nations stump up the full amount of a pledged $100 billion fund to finance climate initiatives, particularly for poorer countries, Minister of Climate Change and Environment Mariam Almheiri said in an interview on Bloomberg TV. “We need to course-correct aggressively,” she said.
The country this week said it will cut emissions by 40 per cent by 2030 from a business-as-usual level, a more ambitious target than a previous plan for a 31 per cent reduction.
And earlier this month, the government said it would invest as much as $54 billion on renewables over the next seven years, targeting a threefold increase in the share of clean energy in the overall mix over the period.
“This is going to be an all-inclusive COP,” Almheiri said on Thursday. All sectors, including oil and gas, will be involved in the event, she said.