Sheikh Mohammed bin Rashid Al Maktoum, Prime Minister of the United Arab Emirates and ruler of the Emirate of Dubai, said the country intended to use the opportunity to stimulate development and economic growth and create jobs.
Experts have not ruled out neighbouring countries in the region announcing similar aims on zero emissions at the COP26 summit (26th session of the conference of parties to the U.N. framework agreement on climate change) to take place in November in Glasgow.
As Sheikh Mohammed announced, the UAE will invest by 2050 about $165 billion in the development of “clean” energy and in developments associated with the campaign to fight climate change.
“In as little as five years, Abu Dhabi will be producing nearly 55 % of its electricity from clean sources and that will cut in half CO2 emissions linked to the energy sector,” said Awaidha Murshed Al Marar, Chairman of the Abu Dhabi Department of Energy.
In any event and despite these proclaimed goals, Abu Dhabi’s national oil company (ADNOC) is unlikely to abandon its ambitious plan to boost oil production to 5 million barrels a day by the end of the decade, compared to its current capacity of 4 million bpd. At the same time, ADNOC is attempting to reduce its carbon footprint and develop hydrogen production and carbon capture.
Analysts believe that the UAE could become carbon-neutral on the strength of nuclear and solar power.
The country int UAE, an OPEC member, has over the past 15 years invested more than $40 billion in clean energy projects. The country hopes have production capacity of 14 GW of clean energy by 2030 – a figure that stood at 100 MW in 2015.