The UAE revealed a US $54.4-billion programme to finance its next six years to be deployed on sustainable energy investments ahead of its ambition of zero emissions by 2050. Major plans Suhail Al Mazrouei, Minister of Energy and Infrastructure for the United Arab Emirates revealed this move in public for the very first time when he formally announced that programme at ADIPEC launch 2024. Such investments form part of efforts to further diversify the nation’s energy sources and accelerate a transition toward clean energy that is aligned with the commitment of the UAE to its role in addressing climate change.
This major financial commitment, Al Mazrouei said, is in full alignment with the UAE’s greater environmental goals, which would include reducing carbon intensity within oil and gas operations by 25% over the next decade. “Our efforts to expand the diversity of our energy mix and rely even more on clean energy align well with our ambition for the carbon intensity reduction of another 25 percent from oil and gas operations by this coming decade,” he added. This commitment falls under the strategic play of balancing the role the country needs to play in servicing the energy needs of the globe, yet making hefty investments in sustainable solutions.
The idea for the UAE is to create a model and put this country at the regional head in renewable energy and establish a model that can be followed by others. That involves huge investments into the already operational clean energy projects and new initiatives, currently under development. Among such projects are various sectors in the renewable energy sources including the solar and wind energy together with the state-of-the-art technologies, which are going to be critical to achieve long-term sustainability of the energy.
Al Mazrouei said it needs to hold energy security along with driving on to the environmental targets; the reason being is that it continues to focus on meeting its present needs for energy as well as invest strongly on the clean systems for energy for the future, he stated while further stressing the fact that UAE retains both strands together; to remain a secure provider of energy while acting as an advocate for climate action.
This, at such a time when challenges on the global energy markets run around carbon emissions and the commitments to climate, proves to be a strategic appeal to inspire regional and worldwide collaboration for a cleaner future of energy through a model of investment and policy measures set by the UAE. Ambitious for the country, it brings innovation and environmental stewardship and ensures that the UAE is a critical player in the global energy landscape while actively working toward a sustainable and low-carbon future.