Emirates News Agency – Implementation path for UAE Net Zero strategic initiative by 2050 to be revealed at COP27: Almheiri

ABU DHABI, 6th November, 2022 (WAM) — Mariam bint Mohammed Almheiri, Minister of Climate Change and Environment, has said that the participation of the United Arab Emirates in the 27th session of the Conference of the Parties to the United Nations Framework Convention Conference on Climate Change (COP27) in Egypt will mark an important step in its journey towards climate action and an affirmation of its pioneering model at the regional and global level in the face of the challenge of climate change.

In an interview with the Emirates News Agency (WAM), Almheiri claimed that during COP27, which started today in Sharm el-Sheikh and ends on November 18, the UAE intends to reveal details of the mechanisms and implementation pathways of their strategic initiative to achieve climate neutrality 2050, as part of its support for sustainable financing solutions for all sectors. This is accompanied by a comprehensive assessment of the state and movement of sustainable finance solutions, including green bonds.

She added that while the current session of the conference is focused on financing and ensuring the fair and equitable participation of developing countries in climate action efforts, the UAE will invite the world to participate in efforts to disseminate and use of renewable energy by joining the Platform for Accelerating Energy Transition, which the country launched with the International Renewable Energy Agency (IRENA), and allocated an initial investment of $1 billion .

Almheiri said the focus will be on stepping up efforts to promote climate-smart initiatives for the benefit of the private sector, through a body of reports and evidence. This will allow the private sector to visualize the most important technologies available to increase operational efficiency and reduce the carbon footprint of many activities while addressing the Green Business Guide and the Green Sukuk and Bonds Guide.

“The UAE will be keen to transfer and showcase its expertise in many areas of environmental and climate work at COP27. the UAE’s climate change”, sustainable financing and investment solutions and the expansion of reliance on nature-based solutions,” she added.

On the specific significance of the current COP27 session in the Arab Republic of Egypt and the new actions the UAE is focusing on at the conference, Almheiri said the UAE’s awareness of the he importance of working for the environment and the climate came early. With vision and direction from wise leadership, the state has a three-decade march to reduce the causes of climate change and adapt to its impacts.

“The most important point in the march of the country is that everything it has provided and accomplished at the local, regional and global levels stems from a voluntary commitment and awareness to protect the present and the future. of our planet.”

Almheiri said the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP) represents the most important annual event to discuss and monitor climate action efforts globally.

“Therefore, the UAE would like to periodically highlight its voluntary commitment to climate issues by announcing its directions and initiatives to raise climate ambitions and highlight green initiatives and projects being implemented regularly in line with international trends.”

On new steps to boost food security, Almheiri said the UAE has succeeded thanks to the vision and support of wise leaders to ensure food availability and continuity of supply chains during and after the pandemic. of COVID-19. “This confirms the extent of the strategic priority given to strengthening food security in the United Arab Emirates.”

She added, “In line with the National Food Security Strategy 2051, we are working to improve food security through an integrated system that includes more than one axis.” Foremost among these is the strengthening of capacities for sustainable local agricultural production based on innovation. This helps to increase the efficiency of natural resource consumption and increase agricultural productivity. This is in addition to ensuring the flexibility and continuity of supply chains by strengthening infrastructure and logistics services, seeking new sources of sustainable imports and increasing responsible foreign investment in sustainable agricultural systems. It is also necessary to promote the adoption of sustainable practices in the production and consumption of food and to reduce and eliminate waste and losses.

Almheiri said the UAE ranked first in the Middle East and North Africa on the 2022 Global Food Security Index, published by The Economist Impact, compared to third place on the index for 2021, and ranked 23rd in the world, moving up 12 places from last year. . Food trade has also seen a rapid recovery from the pandemic, with the daily food import rate reaching over 41,000 tons of food, representing a growth of 21% compared to the same period of the previous year.

Regarding the new project in the “Food Tech Valley” aimed at promoting the use of innovative solutions and modern technologies to improve food security, she said that the project was a qualitative step in the UAE’s national effort to improve food security and developing agricultural technology prospects. sector which is growing in importance. The agricultural technology market is expected to grow from US$13.5 billion to US$22 billion over the next four years.

Almheiri added that the project area when completed will reach 18 million square feet and provide more than 14,000 job opportunities. It is expected to attract over 4,000 visitors and will house over 1,150 residents. Work is underway to complete the necessary infrastructure works for the project.

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