Suhail Al Mazrouei to “WAM”: .
– The UAE is ranked second in the world in the field of energy transition according to the Green Future Index for the year 2023.
The UAE’s rapid transition towards the use of green and clean energy is an example to be emulated globally.
OPEC+ seeks to achieve balance in the market in light of facing the challenge of lack of investment in all energies around the world.
The energy sector in the UAE plays a vital role in the success of COP28 activities.
The UAE has invested more than $40 billion in clean energy projects over the past 15 years.
From Ahmed Al Nuaimi.
Abu Dhabi, 3 October / WAM / His Excellency Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Infrastructure, said that the installed clean energy capacity of projects operating in the UAE in 2022 contributes about 15.6% to the energy mix, and the target is to achieve 30% by 2030 within the UAE Energy Strategy Modernization Project. 2050.
His Excellency added in statements to the Emirates News Agency, WAM, on the sidelines of the activities of the ADIPEC 2023 Conference and Exhibition, that the UAE ranks second in the world in the energy transition according to the Green Future Index for the year 2023 within the third edition of the comparative ranking of 76 countries and regions regarding their ability to develop a sustainable and low-cost future. Carbon, which measures the degree to which countries’ economies are focused on clean energy, industry, agriculture and society through investment in renewable energy sources, innovation and green policy.
His Excellency explained that the index measures countries within a number of axes, namely “carbon emissions, speed of transition/transition to energy, green society, clean innovation, and climate policy.”
He said that the UAE’s rapid transition towards the use of green and clean energy is an example to the world about the ability of countries to achieve remarkable results in this important sector.
Regarding his vision of the current oil prices, His Excellency Suhail Al Mazrouei said that oil prices are determined by the market through supply and demand, indicating that OPEC+ seeks to achieve balance in the market in light of facing the challenge of lack of investments in all types of energy.
He pointed out that the production capacity of OPEC+ countries decreased by 4 million barrels of oil during 2020-2023, which requires stimulating investments in this important sector. He called on international companies to increase investment in all energies in order to achieve global energy security.
Regarding the role of the energy sector in the Emirates during the COP28 Conference of the Parties, His Excellency Suhail Al Mazrouei said that the energy sector in the Emirates plays a vital role in the success of the activities of the COP28 Conference of the Parties, which the Emirates is hosting this year.
His Excellency pointed out the UAE’s commitment to reducing carbon emissions and achieving climate neutrality by 2050, which means that the energy sector must play a major role in achieving this commitment, as it was announced within the update of the UAE Energy Strategy 2050 to reach climate neutrality in the electricity and water sector by 2050, in line with the state’s announcement. To ensure the achievement of its goals.
He noted the importance of investing in sustainable energy and diversifying its sources, explaining that the UAE has invested significantly in sustainable energy projects such as solar energy, hydrogen, nuclear energy, hydroelectric energy, and others.
He pointed out that the country has invested more than $40 billion in clean energy projects over the past 15 years, and explained that national investments in this regard will range between 150 and 200 billion dirhams until 2030 to ensure meeting the demand for energy and sustaining growth in the UAE’s economy, to enhance Directing the sector towards generating electricity and providing energy in a more sustainable manner while ensuring the security of energy supply and grid stability.
His Excellency said that the UAE is among the lowest network emission factors and aims to achieve a network emission factor of about 0.27 kg carbon dioxide/kWh by 2030.
He stated that the UAE announced its commitment to increasing the contribution of renewable energy to three-fold by 2030 as part of the project to update the UAE Energy Strategy 2050. He pointed out that the country has taken many important steps to reduce emissions in the energy sector, including directing resources towards research and development of renewable energy technology, in addition to encouraging the sector. The UAE also benefited from international expertise and partnerships to enhance its capabilities in the field of clean energy, in addition to organizing public awareness campaigns to involve society in efforts to transition towards green energy, while the infrastructure was redeveloped to be compatible with renewable energy requirements.
2023-10-03 10:40:14
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