UAE leads region in climate change action, says IMF chief

Emirates is leading regional efforts and investing $160 billion in renewables

Waheed Abbas

Published: Wed 30 Mar 2022, 3:43 PM

Last updated: Wed 30 Mar 2022, 10:41 PM

Kristalina Georgieva, managing director of the International Monetary Fund (IMF), on Wednesday, praised the UAE’s efforts and contributions toward climate change and leading the region in this sphere.

While speaking at the launch of the “Feeling the Heat” report at the World Government Summit at Expo 2020 Dubai on Wednesday, she added that the world needs to cut global emissions by half by 2030.

“When we put together all the promises that countries made, we are half short of achieving this objective. It is so important that to be carbon neutral by 2050, we have to act very decisively in this decade. I am proud to say that UAE is leading regional efforts and investing $160 billion in renewables. And they’re doing that not only in their own territory but beyond.”

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IMF chief also praised Egypt’s investment in modern irrigation techniques, education and healthcare and the UAE’s focus on clean energy, sustainable construction and water conservation.

Egypt will host the 27th edition of the UN Climate Change Conference (Cop27) this year, while the UAE will host the next edition in 2023, reflecting the seriousness of the two nations about climate change.

“This year, international attention on the climate issue is squarely focused on the Middle East. Egypt will host Cop27 in November, and, in 2023, it will be UAE’s turn. As we look ahead to these meetings, the international community must come together to discuss the critical importance of climate action for our present and our future,” Georgieva added.

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The IMF chief said the Fund will be a very close ally for COP27 and COP28 to make that transformation towards greener economies that will benefit people and help growth and employment in this region.

Maryam Al Muhairi, the UAE’s Minister of Climate Change and Environment, said it is so important that the next two UN COP summits will be in this region. “We can spearhead this campaign because we have the right mindset, and the two summits will show the world that this region is serious about climate change agenda. We are working together to ensure that COP28 is a productive, consultative and inclusive COP. It’s a solution based COP,” added Al Muhairi.

-waheedabbas@khaleejtimes.com