Dubai: During a virtual meeting of the Major Economies Forum (MEF) on Energy and Climate Change, hosted by US President Joe Biden, President His Highness Sheikh Mohamed bin Zayed Al Nahyan stressed the importance of sustainable economic development and its connection to climate action. “Sustainable economic development and climate action are closely linked and essential to ensuring a better quality of life for all,” he said.
Sheikh Mohamed emphasized that the UAE has placed climate action at the core of its strategy, stating, “We have invested over $150 billion in climate action and have ambitious plans for further investments in this field in the future.” He also noted the UAE’s commitment to reducing emissions in all economic sectors by 2030 and achieving climate neutrality by 2050, saying, “The UAE was the first Gulf country to ratify the Paris Agreement, and the first in the region to commit to reducing emissions in all economic sectors by the year 2030.”
As host of COP28, the twenty-eighth Conference of the Parties to the United Nations Framework Convention on Climate, the UAE is committed to achieving transformative climate action. President Sheikh Mohamed stated, “The COP28 UAE Presidency will be committed to achieving transformative climate action, moving from deliberation to action, and delivering a comprehensive action plan for the benefit of all people and the planet.”
President Sheikh Mohamed also stressed the need for international cooperation and financing to support the energy transition and address the impacts of climate change, particularly in the Global South and vulnerable communities. He called for an increase in renewable energy production capacity and doubling hydrogen production, saying, “Energy and climate change are closely intertwined. It is essential that the world accelerates its logical, realistic, and balanced transition in the energy sector.”
Sheikh Mohamed extended an invitation to the world to join the UAE’s efforts and initiatives aimed at achieving significant advancements in climate action, expressing his confidence in the world’s positive response. He also called for developed countries to fulfill their pledge to provide $100 billion to developing countries and reform international financial institutions to secure the necessary financing for climate action.