UAE has invested more than $40 billion in clean energy over the last 15 years and has plans to invest an additional $160 billion in clean and renewable energy sources over the next three decades on the road to net zero. Energy security is a high priority. And it’s something we need to really understand. The fragmentation that’s happening globally, and energy supplies, will really affect the aspects of energy going forward. With that, the UAE has a long-term plan. The expert dialogue was on the collaborative action Middle East leaders must take to navigate between net-zero ambitions and socioeconomic realities. It came at a critical time, with the next two United Nations Climate Change Conferences, COP27 and COP28, both set to be hosted in the region, by Egypt and the UAE respectively.
The creation of the company Masdar, the implementation of solar panels, global projects helping the world to diverse their energy supply, all show the UAE’s investment in future energy security. The investment in diversifying energy aspects is important and vital for any future development of the region. Despite this, the region is regarded as well-positioned to become a leader in renewable energy and in green and blue hydrogen. And while oil and gas will continue to play a significant role in the regional energy landscape, the region has witnessed the promising emergence of a new, more circular economy. It has also been particularly active in the transition to sustainable transport in the region through its shipping and logistics subsidiaries, Gulftainer and Momentum Logistics, and by co-launching a UAE-based sustainable transport company, ION, aimed at creating a zero-emissions transport infrastructure in the region. Optimistically, government, business, and civil society-led initiatives are on the rise in the region, with a notable growth in the capital, time, and talent invested in the infrastructure needed to progress.