United Arab Emirates Accelerates Transition to Renewable Energy

In 2030, greenhouse gas emissions should be reduced by 40% compared to the current situation.

The United Arab Emirates, in connection with the 28th COP28 Climate Conference that will be held in Dubai from November 30 to December 12, 2023, is launching a variety of strategic measures aimed at a 40% reduction of greenhouse gasses by 2030. To implement this ambitious program based on the country’s accelerated transition to renewable energy, the UAE government has already allocated an enormous $50 billion in funding.

“Our goal is to triple the contribution of renewable energy to total production over the next seven years. In order to fulfill this kind of program and meet the growing energy demand in our country, due to accelerated economic growth, we have allocated investments from 150 to 200 billion dirhams (40.8-54.5 billion dollars – ed.),” said the Prime Minister of the United Arab Emirates, Sheikh Mohammed bin Rashid Al Maktoum.

In addition, a program for developing green hydrogen industry was launched; this recently has become one of the hot topics in regards to clean energy. Under this plan, the United Arab Emirates, currently one of the largest oil producers in the world, also wants to be among the most important “producers and exporters” of green hydrogen. Over the next seven years, supply chains and several hydrogen nodes will be created and concentrated within the National Hydrogen Research Center.

In other words, by 2030 Dubai authorities want to triple the amount of renewable energy in the country’s energy budget.

The previous energy strategy by United Arab Emirates was approved in 2017 and was directed at increasing the share of clean energy in the country’s total energy mix from 25% to 50%. At the same time, the carbon footprint generated by electricity production must be reduced by 70% before 2050. One of the goals of the strategy is to achieve energy balance, using multiple alternative energy sources, including nuclear.

In 2021, the United Arab Emirates launched an initiative called NetZero-2050, under which the country should achieve carbon neutrality by 2050. As part of this event, the main goal is to accelerate the development of green energy sources. Over the past 15 years, the United Arab Emirates has already invested $15 billion in various environmental projects.