Wednesday 8 December 2021

UAE launches Net Zero by 2050 strategic initiative

ABU DHABI, October 8, 2021

The UAE has announced the UAE Net Zero by 2050 strategic initiative, a national drive to achieve net-zero emissions by 2050, making the emirates the first Middle East and North Africa (MENA) nation to do so.
The initiative, announced at Expo 2020 Dubai in the presence of HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, aims to underpin dynamic economic growth alongside positive environmental impact.
Commenting on the announcement, HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, said: "We are committed to seize the opportunity to cement our leadership on climate change within our region and take this key economic opportunity to drive development, growth and new jobs as we pivot our economy and nation to net zero. With an investment of over AED600 billion in renewable energy, our vision for a clean future is clear."
The announcement aligns with the Principles of the 50 - the UAE’s roadmap for accelerating national economic development to mark the country’s golden jubilee year, as the nation enters a new 50-year cycle of growth. 
The major economic opportunities offered by the path to net zero directly support a vision to develop the Emirates into the most dynamic economy in the world.
Mohamed bin Zayed said: "With our announcement today of our plan to achieve climate neutrality by 2050, the UAE continues our effective role in climate control issues, adding our support to international efforts to mitigate climate change with a range of effective community and economic initiatives."
"In achieving climate neutrality in the UAE by 2050, we aim to develop an approach that both drives sustainable economic growth and is an exemplar of working together to achieve a better future for humanity," he added.
The announcement was made at the conclusion of a government-wide accelerator programme initiated earlier this year. The Government Accelerator for Climate Ambition and Economic Development took a holistic approach to developing the framework for the UAE’s pathway to net zero, leveraging strategies for green economic growth and job creation.
Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Special Envoy for Climate Change, said: "The UAE Net Zero Strategic Initiative is an open invitation to the world to collaborate with the UAE in developing practical solutions, boosting multilateralism, and creating opportunities for sustainable socio-economic development."
"Critically, we will leverage the development pathway to net zero as a vehicle to create economic value, increase industrial competitiveness and enhance the UAE's standing as an attractive destination for investment, in line with the UAE’s vision of progress for the next 50 years," he noted. 
"The UAE net zero by 2050 strategic initiative offers new opportunities for economic progress and also further establish the UAE as an ideal location to live, work, raise families and create communities," he added.
According to him, the initiative aligns with the Paris Agreement, which calls on countries to prepare long-term strategies to reduce greenhouse gas (GHG) emissions and limit the rise in global temperature to 1.5 C compared to pre-industrial levels.
Mariam Hareb Almheiri, Minister of Climate Change and Environment. said: "The UAE is focused on balancing the requirements of economic growth, social inclusion and cohesiveness and limiting the impact of climate change on our environment and natural resources."
"Our announcement of the Net Zero 2050 strategic initiative is consistent with our drive to diversify and build a knowledge-based economy, adopt the principles of green and circular economy, protect the environment, attract foreign direct investment, and develop competencies in future growth areas," added Almheiri.-TradeArabia News Service


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