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Policy

In Mideast First, UAE Pledges Net-Zero Target

Copyright © 2021 Energy Intelligence Group
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Amid rising global energy transition pressures, the United Arab Emirates has pledged a net-zero target, the first by an Opec member and Mideast Gulf hydrocarbon producer. The move is expected to play well with participants at COP26 kicking off in Glasgow on Oct. 31 and is seen supporting the UAE's ambitions to host COP28 in 2023. It also piles pressure on fellow Gulf hydrocarbon producers such as Saudi Arabia and Qatar, which have yet to declare similar goals. The net zero by 2050 target was announced by Sheikh Mohammed bin Rashid al-Maktoum, the UAE's prime minister and ruler of Dubai, on Twitter. As part of the plan, the country seeks to invest more than $160 billion in clean and renewable energy over the next three decades.

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