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UAE President urges global community to unite for sustainable economic, social development

Sheikh Mohamed addresses world leaders at Major Economies Forum hosted by US President Joe Biden

President His Highness Sheikh Mohamed bin Zayed Al Nahyan urged the international community to unite under the principles of peace, stability and collaboration to pave the way for long-term sustainable economic and social development, during the Leaders Meeting of the Major Economies Forum on Energy and Climate (MEF).

At the virtual MEF meeting, hosted by US President Joe Biden, Sheikh Mohamed joined heads of state from 17 major economies to represent the UAE as the host country of the 28th UN Climate Change Conference (COP28).

In an address to global leaders, Sheikh Mohamed acknowledged that climate change is an issue of grave importance. It must be addressed through collective cooperation, because if left unabated, the impacts of climate change will come at a great cost to people, the planet and the global economy, he said.

He emphasized that the UAE has long held the view that climate action is an opportunity to achieve new pathways for economic and social development, with a focus on practical solutions that can benefit all countries.

Sheikh Mohamed emphasised that the UAE, as an active partner of the global community, is determined to deliver a COP28 in 2023 that rises to the challenge, by adopting an approach that ensures the concerns and needs of all stakeholders are heard.

The UAE has investments of more than $50 billion in renewable energy projects across 40 countries, and plans to invest an additional $50 billion over the next decade.

During the meeting, Biden urged leaders to maintain climate action as a top priority on the global agenda, against the backdrop of geopolitical instability and its repercussions on energy and food security.

He also invited leaders to cooperate and ease these immediate impacts by supporting initiatives that accelerate the clean energy transition and reduce the vulnerability of the food system to climate and supply-chain disruptions.

As the first country in the region to sign and ratify the Paris Agreement, the first in the region to commit to an economy-wide reduction in emissions and announce a net zero by 2050 strategic initiative, the UAE has demonstrated a proven track record in progressive climate action, climate diplomacy and multilateral cooperation which led to it being selected as the host country for COP28 in 2023.