UAE welcomes Saudi’s net zero target, commend leadership

Abu Dhabi - UAE Minister lauds Kingdom for bold and long-term strategic initiative during a panel discussion ahead of COP26 Summit.

The UAE on Saturday welcomed Saudi Arabia’s announcement of a target to achieve net zero emission target by 2060 and commended its leadership and people for the progressive step and for convening the Saudi Green Initiative (SGI) while making the case for practical solutions to tackle climate change.

Speaking at a panel session titled ‘Countdown to COP26 – State of Play Ahead of a Critical Summit’ at the one-day forum in Riyadh, Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Special Envoy for Climate Change, said: "The UAE highly commends the leadership and the people of the Kingdom of Saudi Arabia, particularly the youth, for such a landmark, bold and long-term strategic initiative. It represents a paradigm shift in ambition for this region; it underlines the vital role this region can and should play in providing practical climate solutions; and it represents another example of how this region can help address global challenges."

"As a region, we have always had to live with harsh climate conditions and we will have to continue to innovate in both mitigation and adaptation. I firmly believe that an inclusive, partnership-based approach that embraces the energy transition as an economic opportunity is the best way to achieve truly sustainable global progress. The UAE’s Net Zero Strategic initiative is an open invitation for the world to partner with us in developing this new economic model for progress."

Dr. Al Jaber noted political climate action has slowed even as investment in renewables has risen and the world needs practical solutions that are commercial and scalable. He expressed optimism about COP26 (the UN Climate Conference, taking place in Glasgow from November 1-12, 2021) and provided insights on the UAE’s offer to host COP28.

"After the highs of Paris, political climate action has slowed even as investment in renewables has risen and the world has experienced a series of climate-related weather events. So, it is evident that COP26 needs to start shifting the goals towards an action-oriented approach. The world needs practical solutions that are commercial and scalable and COP26 provides a timely platform to shift gears. I strongly believe it will be an important step in the right direction.

"It is through this approach that the world can truly take the opportunity of the energy transition which is to use the wave of investment in low-carbon solutions to drive economic prosperity for all. For that to happen, it is clear that developing countries must get the finance and technical support they need to rewire their energy systems and to put climate mitigation measures in place.

"We need a functioning Article Six to set up carbon markets which can help direct the flow of capital to low carbon solutions. We need greater ambition on emissions targets to close the gap between current NDCs and the Paris goals, and we need strategic roadmaps to make sure ambition becomes reality. Critically the world needs an umbrella approach with flexibility under which each country can have its own path to lower emissions," Dr. Al Jaber said, as he explained that these are some of the reasons the UAE is keen to host COP28.

Speaking alongside Prince Abdulaziz bin Salman Al Saud, Minister of Energy of the Kingdom of Saudi Arabia (KSA), Marco Alverà, CEO of Snam, and Patricia Espinosa, Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC), Dr. Al Jaber added that the UAE will be looking to work closely with the United Kingdom (UK), as hosts of COP26, Egypt, as hosts of COP27 and the UNFCCC.

"Progress at COP26, COP27, and COP28 will be all about having an inclusive approach that brings all sectors – public, private, academic, and civil society – together. And this approach must include countries with major hydrocarbon resources because these countries have a crucial role to play through the energy transition."

Responding to a question on the UAE’s Net Zero Strategic Initiative by 2050 from Fred Kempe, President and CEO of Atlantic Council and the moderator of the session, H.E. Dr. Al Jaber explained that the strategic initiative closely aligns with the development path the UAE is already embarking on in diversifying its economy.

"This initiative is really a holistic economic program inspired by our leadership’s 50-year vision for our country’s progress. We fundamentally believe that the pathway to net zero is a powerful vehicle for economic opportunity and we will use this opportunity to develop new industries, new skills, and new jobs."