Daily Sabah logo

Politics
Diplomacy Legislation War On Terror EU Affairs Elections News Analysis
TÜRKİYE
Istanbul Education Investigations Minorities Expat Corner Diaspora
World
Mid-East Europe Americas Asia Pacific Africa Syrian Crisis Islamophobia
Business
Automotive Economy Energy Finance Tourism Tech Defense Transportation News Analysis
Lifestyle
Health Environment Travel Food Fashion Science Religion History Feature Expat Corner
Arts
Cinema Music Events Portrait Reviews Performing Arts
Sports
Football Basketball Motorsports Tennis
Opinion
Columns Op-Ed Reader's Corner Editorial
PHOTO GALLERY
JOBS ABOUT US RSS PRIVACY CONTACT US
© Turkuvaz Haberleşme ve Yayıncılık 2023

Daily Sabah logo

عربي
  • Politics
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • Elections
    • News Analysis
  • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Expat Corner
    • Diaspora
  • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • Islamophobia
  • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
  • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
  • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Reviews
    • Performing Arts
  • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
  • Gallery
  • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
  • TV
  • Business
  • Automotive
  • Economy
  • Energy
  • Finance
  • Tourism
  • Tech
  • Defense
  • Transportation
  • News Analysis

UAE seeks to reach net-zero emissions by 2050 with $163B plan

by REUTERS

DUBAI Oct 08, 2021 - 10:04 am GMT+3
This file photo dated July 8, 2020, shows hydropanels, produced by Zero Mass Water Inc., at the planned site of the IBV drinking water plant in Lehbab, Dubai, United Arab Emirates, using technology to extract moisture from the atmosphere using energy from the sun. (Christopher Pike/Bloomberg via Getty Images)
This file photo dated July 8, 2020, shows hydropanels, produced by Zero Mass Water Inc., at the planned site of the IBV drinking water plant in Lehbab, Dubai, United Arab Emirates, using technology to extract moisture from the atmosphere using energy from the sun. (Christopher Pike/Bloomberg via Getty Images)
by REUTERS Oct 08, 2021 10:04 am
RECOMMENDED
Venezuelan Minister of Industries and National Production Tareck El Aissami speaks during a press conference after filing a corruption complaint with the attorney general's office involving a "mega fraud" at the state oil company PDVSA, at the Public Ministry, Caracas, Venezuela, Aug. 30, 2022. (AFP Photo)

Venezuela oil czar quits in surprise move amid graft probes

venezuela-oil-industry

The United Arab Emirates (UAE), one of the biggest oil exporters in the world, announced an ambitious plan to achieve zero carbon emissions that would see the Gulf nation spending 600 billion dirhams ($163 billion) in renewable energy sources and projects over the next three decades.

The plan, expected to be completed by 2050, makes the UAE the first country in the Middle East and North Africa (MENA) region to launch a concrete initiative to achieve that climate commitment.

The Gulf state has launched several measures over the past year – coinciding with 50 years since the country's founding – to attract investment and foreigners to help the economy recover from the effects of the COVID-19 pandemic.

The economic initiatives also come amid a growing economic rivalry with Gulf neighbor Saudi Arabia to be the region's trade and business hub.

"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," said Sheikh Mohammed bin Rashid Al Maktoum, vice president and prime minister of the United Arab Emirates and ruler of the emirate of Dubai.

The UAE, an Organization of the Petroleum Exporting Countries (OPEC) member ranking fifth among the biggest oil exporters, has in the past 15 years invested $40 billion in clean energy, the government said. Its first nuclear power plant, Barakah, has been connected to the national grid and the UAE aims to produce 14 gigawatts (GW) of clean energy by 2030, up from about 100 megawatts (MW) in 2015, it said.

No further details on the 600 billion dirhams of investment were given.

The UAE will use the path to net-zero as a way to create economic value, increase industrial competitiveness and enhance investment, said Sultan Al Jaber, minister of industry and advanced technology and special envoy for climate change.

The UAE is bidding to host the COP28 global climate talks in 2023.

The energy strategy revealed by the UAE back in 2017 aims to increase efficiency in personal and corporate energy consumption by 40%, bring the total share of clean energy from 25% to 50% and save up to 700 billion dirhams by 2050.

RECOMMENDED
Venezuelan Minister of Industries and National Production Tareck El Aissami speaks during a press conference after filing a corruption complaint with the attorney general's office involving a "mega fraud" at the state oil company PDVSA, at the Public Ministry, Caracas, Venezuela, Aug. 30, 2022. (AFP Photo)

Venezuela oil czar quits in surprise move amid graft probes

venezuela-oil-industry
  • shortlink copied
  • Last Update: Oct 08, 2021 11:06 am
    RELATED TOPICS
    fight-against-terrorism DEUTSCHE-BANK US-LIBYA-RELATIONS
    KEYWORDS
    renewable energy united arab emirates carbon emissions global warming uae climate change energy clean energy
    The Daily Sabah Newsletter
    Keep up to date with what’s happening in Turkey, it’s region and the world.
    You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
    Russian Foreign Minister Sergey Lavrov (L) enters a hall with Armenia Foreign Minister Ararat Mirzoyan (R) for their joint news conference during their meeting in Moscow, Russia, March 20, 2023. (EPA Photo)

    Russia slams Western 'imposition' as US offers Armenia support

    azerbaijan-armenia-relations
    President Recep Tayyip Erdoğan (R) at a meeting with MHP leader Devlet Bahçeli, in the capital Ankara, Türkiye, March 20, 2023. (AA Photo)

    Erdoğan leads in possible 2nd round of Turkish elections: Survey

    Recep-Tayyip-Erdoğan

    Turkish Airlines looks for co-op with Indian airlines for expansion

    turkish-airlines

    At least 13 dead after strong quake shakes Pakistan, Afghanistan

    EARTHQUAKE
    No Image
    In photos: Storm Christoph floods Britain, with more to come
    PHOTOGALLERY
    • POLITICS
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • News Analysis
    • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Diaspora
    • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • İslamophobia
    • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
    • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
    • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Performing Arts
    • Reviews
    • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
    • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
    • Photo gallery
    • Jobs
    • privacy
    • about us
    • contact us
    • RSS
    © Turkuvaz Haberleşme ve Yayıncılık 2021