Mohamed bin Zayed’s and Biden’s contacts confirm the importance of the stability of the global energy market
UAE President Sheikh Mohamed bin Zayed Al Nahyan discussed with US President Joe Biden ways to strengthen friendship and strategic partnership between the two countries
This came during a video conversation between UAE President Sheik Mohamed bin Zayed Al Nahyan and US President Joe Biden, during which they affirmed the depth of strategic relations between the two friendly countries and discussed global challenges, including energy security.
During the call, the UAE president and the US president reviewed the comprehensive UAE-US initiative that the two countries announced yesterday to invest in clean energy and promote common climate goals and global energy security.
According to the Emirates News Agency (WAM), the partnership will invest $100 billion to generate an additional 100 gigawatts of clean energy in the United Arab Emirates, the United States and emerging economies around the world by 2035.
Climate neutrality
The two sides welcomed the partnership initiative, affirming their commitment to promote ambition and climate action in line with the goal of “climate neutrality” by the year 2050, with the approach of the twenty-seventh session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP27), which will be held in Egypt later this month, and the twenty-eighth session of the COP28, which will be hosted by the United Arab Emirates next year.
They noted the importance of the initiative as an important catalyst to reach the goal of “climate neutrality” by accelerating investment in clean energy projects, technologies and resources, creating significant economic opportunities and promoting sustainable growth.
World energy market
They emphasized the common interest in stabilizing the global energy market, increasing their investments in renewable energy and deepening their close cooperation in this regard.
The UAE president noted the major investments the country is making to increase its production capacity from both renewable energy and low-carbon conventional energy in order to meet global demand and enhance energy security.
He stressed the need to take measures to reduce the effects of climate change and global warming, especially on countries in the region with scarce natural water resources, long coastlines and harsh climate.
The UAE has expanded its renewable energy capacity 200-fold over the past 10 years through efforts to build three solar power plants that are among the largest and lowest in the world, he said.
Clean energy
During the video conference, which was attended by Yousef Manie Al-Otaiba, Ambassador of the State to the United States of America, he reviewed the funding and assistance provided by the United Arab Emirates for clean energy projects in six continents, including 31 small island developing States in the Caribbean and the Pacific, as well as an increasing number of projects throughout the United States.
The President of the United Arab Emirates witnessed the launch of the Emirati-American Partnership Initiative for Investing in Clean Energy, which was signed by Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, the Special Envoy of the United Arab Emirates for Climate Change, and Amos Hochstein, the United States Presidential Special Coordinator, during the Abu Dhabi International Petroleum Exhibition and Conference, “ADIPEC 2022.”
