In spite of the growing commitments and tangible efforts made to achieve global climate action in the past several years, starting with the unprecedented consensus of the Paris Agreement, we continue to watch in great alarm the destruction caused by hurricanes and other extreme weather events. The recent surge in their intensity and frequency boils down to one grim fact: Climate change is making inroads in adversely impacting our planet must faster than we are in trying to prevent it, and unless the world commits to even more ambitious climate action now, we risk losing this race – a race where there is no second place. We either win or lose.
Tomorrow, we go into the UN Climate Action Summit in New York to present the UAE’s climate action model, a model that we believe can set an example for others to follow.
Despite its location in the heart of a region known for its dependence on hydrocarbons, the UAE launched a transition to renewables in 2006, giving it first-mover advantage and an excellent opportunity to become a leader in climate action. The transition seeks to diversify the country’s energy sources to reduce greenhouse gas emissions – the main cause of climate change.
To achieve this goal, the country has deployed large-scale renewable energy projects, such as the 5 GW Mohammed Bin Rashid Al Maktoum Solar Park in Dubai, scheduled for completion in 2030, and the 1 GW Noor Abu Dhabi – the world’s largest single-site solar project comprising 3.2 million solar panels that became fully operational in June 2019. However, the UAE does not believe in resting on its laurels. A newly announced 2 GW solar project, set to outperform the record-breaking Noor Abu Dhabi plant, is already in the works.
As a result of its commitment to deploying and exporting renewable energy solutions, the UAE has repeatedly broken the world record for the lowest solar power cost. The cost of generating one kWh through solar technology was 5.84 US cent in 2015, 2.99 US cent in 2016, and 2.94 US cent in 2017.
Internationally, via its flagship company Masdar, the UAE invested over US$12 billion in 49 renewable energy projects. Masdar’s diverse portfolio of assets currently totals 4 GW of clean energy capacity in 25 countries worldwide.
And since 2013, the country has contributed nearly US$1 billion in aid to developing countries to implement renewable energy projects that have transformed entire communities. Through a joint project facility, Abu Dhabi Fund for Development committed US$350 million to fund renewable energy projects recommended by the International Renewable Energy Agency.
2013 also saw the birth of the US$50 million UAE-Pacific Partnership Fund that aims to address the development challenge posed by the Pacific region’s energy costs that are among the highest in the world. In 2017, the US$50 million UAE-Caribbean Renewable Energy Fund followed suit, seeking to deploy renewable energy projects in 16 Caribbean countries. The two initiatives aspire to reduce reliance on fossil fuel imports, stimulate economic activity, and enhance climate change resilience.
As part of its climate action model, the UAE leverages state-of-the-art technologies to mitigate climate change and enable all sectors to adapt to its impacts, creating new opportunities and industries in the process.
To give this model the momentum to be truly effective, we are keen to involve everyone: the government, the private sector, and individuals - with a special focus on youth. We firmly believe young people are the strongest change agents, and their creative thinking will have a significant impact on the success of the country’s development agenda.
At the UN Climate Action Summit, we will announce upgrades to the UAE’s nationally determined contributions as well as higher local and international commitments on various fronts. We will also send a strong message to the whole world to unify and step up efforts and raise ambitions, pledges, and contributionsWe are confident that this summit will go a long way in improving our chances of winning our race against climate change. Because, at the end of the day, winning is the only option humanity is left with.