UAE Aims to Triple Global Renewable Energy by 2030 at Cop28
The UAE, under the leadership of its Minister of Energy and Infrastructure, is committing to collaborate with Cop28 participants to substantially increase renewable energy capacity and hydrogen production worldwide by 2030.
UAE Aims to Lead Global Energy Transition Efforts
During a meeting of the International Solar Alliance, Suhail Al Mazrouei emphasized the country's dedication to driving the global energy transition. As the Arab world's second-largest economy, the Emirates is heavily investing in clean energy projects and has unveiled various initiatives to achieve net-zero emissions by 2050. The recently approved UAE Energy Strategy 2050, along with the National Hydrogen Strategy, will further solidify the nation's position at the forefront of the energy transition, aiming to reduce carbon emissions by 40 percent by the end of the decade.
Embracing Solar Power to Combat Climate Change
Solar power plays a central role in the UAE's response to climate change. The country is actively developing new clean energy projects, including the Barakah nuclear plant, a two-gigawatt solar plant in Al Dhafra, and the five-gigawatt Mohammed bin Rashid Al Maktoum Solar Park in Dubai. Majid Al Suwaidi, the director general and special representative of the UAE for the Cop28 presidency, highlighted the urgency of investing in clean energy to effectively reduce emissions. Recognizing the significance of the energy system of the future, the UAE is making ambitious strides in its pursuit of a sustainable and cleaner energy landscape.
Accelerating Renewable Energy Growth to Meet Climate Goals
The International Renewable Energy Agency (Irena) stresses the critical need to boost annual renewable power capacity by an average of 1,000 gigawatts by 2030 to align with the Paris Agreement's objectives. While last year witnessed a record growth of 300 gigawatts in global renewable capacity, there remains a substantial gap between the progress achieved and the necessary development to reach long-term climate targets. To address this challenge, the UAE calls for a tripling of renewable energy capacity, a doubling of energy efficiency, and significant expansion in clean hydrogen production by 2030. Moreover, the country urges the oil and gas industry to actively participate in decarbonizing existing operations and invites foreign investors to contribute to the Global South's energy transition.
Global Investments Must Quadruple for a Sustainable Future
To meet the commitments set forth by the Paris Agreement, Irena emphasizes the need to quadruple global investments in energy transition technology, reaching $35 trillion by 2030. The UAE's efforts align with this call for accelerated investment in clean energy solutions. Recognizing the importance of collaboration and removing barriers to investment, the country aims to facilitate a conducive environment for foreign investors in the Global South. By taking bold and decisive actions, the UAE demonstrates its determination to lead the way in the global energy transition and combat the challenges of climate change on a significant scale.