On World Environment Day, UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan met with a group of entrepreneurs, youth, and officials at Qasr Al Bahr in Abu Dhabi to discuss environmental initiatives and innovative ideas that can contribute to the UAE’s sustainability efforts.
During the meeting, Sheikh Mohamed listened to presentations from the leaders of these initiatives, who explained their importance, the potential for scaling them up, and the results achieved so far. His Highness praised the value of such innovative solutions in raising awareness about the need to preserve environmental resources and build a more sustainable future.
Sheikh Mohamed emphasized that the UAE is committed to benefiting from all contributions and initiatives in this area, while also fostering greater understanding of the role individuals and communities can play in addressing climate change. He stressed that environmental preservation is a collective responsibility, both at the community level and globally.
The President noted that the UAE continues to collaborate with international partners to achieve objectives in this field and further activate the historic UAE Consensus, which emerged from COP28. Through effective programmes and initiatives, the UAE aims to shape a better future for people worldwide.
Mapping UAE’s natural resources
Last month, the UAE Ministry of Energy and Infrastructure (MoEI) signed an agreement with the Technology Innovation Institute (TII) to build 3D maps of the nation’s natural resources. The deal represented a remarkable step towards supporting sustainable development and the discovery of mineral resources and renewable energy sources like geothermal.
TII is a global research center and the applied research arm of Abu Dhabi’s Advanced Technology Research Council (ATRC). The objective is to enable the UAE government to explore and utilize untapped renewable and mineral resources in line with the country’s Net Zero 2050 Strategy.
UAE’s investments in sustainable development in Africa
Over the past four decades, the Abu Dhabi Fund for Development (ADFD) has invested AED35.3 billion ($9.6 billion) in sustainable development projects across 42 African countries. As a strategic partner, ADFD has provided essential support to help these nations achieve their developmental goals.
In 2023, ADFD played a key role in a UAE-led initiative worth AED16.5 billion ($4.5 billion) to enhance Africa’s clean energy infrastructure. This initiative, supported by both public and private sectors, was forged in collaboration with the Africa50 fund, a pan-African investment platform.
Read more: Global carbon pricing revenues reach record $104 billion in 2023: Report
Global investments in clean tech manufacturing
Clean technology manufacturing investments worldwide reached $200 billion in 2023, an increase of more than 70 percent compared to 2022.
In its latest report, the International Energy Agency (IEA) IEA explained that investments in solar PV (Photovoltaic) and battery manufacturing plants led the way, together accounting for more than 90 percent of the total in both years. Investment in solar PV manufacturing more than doubled to around $80 billion in 2023, while investment in battery manufacturing grew by around 60 percent to $110 billion.
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