Recently, the UAE, as one of the world's major oil producing countries, has once again accelerated the pace of its transition to clean energy. The country announced that it will increase investment in the field of renewable energy. By 2050, it will invest at least AED 600 billion (approximately US$163 billion) in the field of renewable energy and will achieve net zero emissions of greenhouse gases.

It is understood that the UAE is currently one of the top ten oil producers in the world, and this commitment makes the UAE the first OPEC member to commit to net zero emissions.

Promote the development of renewable energy

Based on multiple foreign media reports, the UAE Prime Minister Mohammedbin Rashid Al Maktoum stated that the UAE hopes to become the first economy in the Gulf region to commit to a full decarbonization. "We will seize this opportunity to consolidate our leadership on climate change issues in the Gulf region, and use this key economic opportunity to promote development, growth, and job creation. In the future, our economy and country will be fully transformed. Net zero emissions."

Later, he also stated on social media: “The future national development model of the UAE will take into account the zero-carbon goal, and all institutions and enterprises will cooperate to achieve this goal.”

According to official data from the UAE government, in the past 15 years, the UAE has invested a total of 40 billion U.S. dollars in the field of clean energy, and has cooperated in the construction of various clean energy projects in 70 countries around the world.

It is understood that at present, the development of clean energy in the UAE is concentrated in photovoltaic and nuclear power. The Zafra photovoltaic power plant in Abu Dhabi is currently the world’s largest single photovoltaic power plant with a total planned installed capacity of 2 million kilowatts. The construction is led by Abu Dhabi National Energy Corporation and Masdar, and the Chinese company Jinko and EDF The company is also involved and is expected to be officially put into use next year. In addition, the UAE’s first nuclear power plant, Barakah Nuclear Power Plant Unit 2, was officially connected to the grid this year. According to the UAE’s previous plan, the nuclear power project is expected to provide the UAE with at least 14 million kilowatts of electricity by 2030.

Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Special Envoy for Climate Change, revealed: “The UAE will take the path of net zero emissions as a way to create economic value, improve industrial competitiveness and increase investment.”

It is also understood that the UAE is currently actively bidding for the 28th United Nations Climate Change Conference, hoping to take this opportunity to further enhance its influence in addressing climate change.

Oil and gas will still occupy a place

However, the UAE's net zero emission plan does not mean that fossil fuels are no longer used. It is worth noting that in the energy strategy currently released by the UAE government, oil and gas still occupy a place.

According to the "Energy Strategic Plan for 2050" issued by the UAE government, by 2050, the proportion of UAE low-carbon energy in total energy consumption will increase from the current 25% to more than 50%, and its carbon footprint in the power sector will be reduced by 70%. %above. At the same time, the UAE also stated that it will increase the energy consumption efficiency of enterprises and individuals by more than 40%.

In addition, by 2050, the UAE will realize that 44% of its energy supply comes from renewable energy, 6% comes from nuclear power, 38% comes from natural gas, and about 12% comes from the clean use of coal.

U.S. media CNN quoted Mariambint Mohammed Saeed Hareb Almheiri, UAE Minister of Climate Change and Environment, as saying: “We cannot simply stop oil and gas production. Now the country is undergoing transformation, and the UAE will not give up oil and gas production if necessary.”

In fact, at the end of last year, the UAE national oil company ADNOC also stated that it will invest an additional US$122 billion in the development of new oil and gas resources. By 2030, the UAE’s national crude oil production is expected to increase to 5 million barrels per day.

Although the UAE has made many efforts in the field of clean energy, according to the data released by its government, oil and natural gas exports are still the main support point of the UAE economy. Every year, the UAE's oil and gas export revenue accounts for about 30% of the country's overall GDP. At the same time, many foreign media also pointed out that the UAE is currently one of the countries with the highest per capita carbon emissions in the world, and it is actually not easy to achieve climate goals.

Other OPEC members under pressure

Despite the challenges, the UAE, as the first OPEC member to announce net zero emissions, and the first country in the Gulf region to announce emission reduction targets, still received a lot of praise. At the same time, from the industry's perspective, the UAE's move is likely to put pressure on other Gulf countries including Qatar and Saudi Arabia.

According to the UAE news media "Nation", after the UAE released its net zero emission target, British Prime Minister Boris said: "This is a major measure to combat climate change. I hope Saudi Arabia and other neighboring countries of the UAE can also make similar emission reductions. promise."

Alok Sharma, chairman of the 26th United Nations Climate Change Conference, said on social media: "This is a historic moment. The UAE has become the first country in the Gulf region to make a carbon neutral commitment. I look forward to other countries in this region also. Make such a decision."

UN Secretary-General Guterres pointed out: “I look forward to the UAE’s submission of a new climate action plan and encourage other countries in the Gulf region to make similar commitments before the 26th UN Climate Change Conference.”

However, as of now, the UAE government has not given a clear specific path for net zero emissions, and this move has also caused certain doubts.

Robin Mills, CEO of Dubai-based Qamar Energy, commented that the UAE’s decision is a huge step forward, but there are also major challenges. The UAE's choice to announce this decision before the 26th UN Climate Change Conference will receive a lot of support, but it may also arouse certain suspicions.

Reuters quoted an official from Qatar, the world's largest LNG exporter, as saying: "Many countries only put forward climate goals but did not give specific strategies. It is wrong to commit quickly to net zero greenhouse gas emissions."