MUHAMMAD OULD EL MUNA (ABU DHABI)
The UAE is a long-time oil producer and exporter, an active member of OPEC and a founding party in the OPEC Plus alliance. Oil extraction activities in the country began in the 1950s, with oil forming the starting point for a comprehensive economic, urban, industrial and scientific renaissance that has never been greater, thanks to successful plans and wise policies that led to employ oil revenues and transform them into economic, social, cultural, industrial, agricultural, service and structural outputs, which led to a successful construction, reconstruction, development and advancement at all levels.
The UAE has succeeded in implementing a policy of diversifying sources of income, aiming to move from an oil rentier economy and reliance on petroleum sector revenues towards diversifying the economic base and strengthening sectors with high added value, that is, towards achieving sustainable development goals.
It is a transition during which the contribution of oil to the state’s gross domestic product, which represented 77% in 1975, gradually decreased, until the situation reversed in 2022 and the contribution of non-oil sectors became 73.5% of the gross domestic product.
Economic diversification
The relative weight of the oil sector within the structure of the country’s gross domestic product has declined, in favour of other non-oil sectors, which are achieving significant growth and prosperity, such as manufacturing industry, trade, contracting, tourism, environment, services, and scientific research...etc., which achieves the goals of UAE Vision 2021 regarding transformation towards a knowledge economy based on innovation and creativity as drivers of development and economic growth, and at the same time expresses the successful policy that the UAE has pursued to diversify its economic sources and to create sustainable development that lays firm and solid economic foundations.
The UAE is the first country to start planning early for the post-oil era, and began developing plans and policies, preparing itself for the day when it exports the last barrel of oil.
The UAE has paid special attention to the environment since the era of the Founding Father, His Highness the Sheikh Zayed bin Sultan Al Nahyan, who succeeded in transforming the desert into paradise and green meadows, and paid attention to agriculture and afforestation, and established reserves.
The late Sheikh Zayed was concerned with protecting animal species and preserving various elements of the environment and natural resources. These are concerns that together constitute what is currently called sustainability.
As an embodiment of this long history of concern for the environment and preserving its safety, world nations unanimously agreed in 2009 to choose Abu Dhabi as the headquarters of the International Renewable Energy Agency (IRENA), making the UAE the first Middle Eastern country to host the headquarters of an international agency. It was also chosen in 2021 to host COP28, as an expression of the confidence of the world and its organisations in the UAE’s firm commitment to climate protection and its tireless efforts in the field of sustainability.
Pioneer in Renewable Energy
Over the past two decades, the UAE has played a prominent role in the field of renewable energy. In 2006, it established Abu Dhabi Future Energy Company (Masdar), and assigned it work on developing clean energy projects, sustainable urban development, promoting environmentally friendly activities as a way of living and preserving the environment.
In addition to research and development through the Masdar Institute, Masdar is concerned with developing Masdar City in Abu Dhabi, as the most sustainable environmental city in the world, and works to spread clean energy through Masdar Clean Energy, and provides consulting services through the Special Projects Unit, organising events related to its field of interest, such as Abu Dhabi Sustainability Week.
Masdar is implementing many clean energy projects, including the Shams 1 concentrated solar power plant, and the photovoltaic power plant in Masdar City, as well as carbon capture and storage projects in the Emirates to reduce carbon emissions.
On the external level, Masdar is implementing and developing many clean energy projects across the world, helping developing countries achieve development and combat poverty.
Landmark Global Gathering
COP28 features the first global assessment of the progress made in achieving the goals of the Paris Climate Agreement. COP28 achieved unprecedented achievements in the history of climate conferences since the launch of its first summit in Berlin in 1995.
The COP28 began with the agreement on the Global Climate Fund, or the Loss and Damage Fund, to help developing countries confront the effects of climate change. The establishment of this fund is an important step towards promoting climate justice and helping the most fragile countries adapt to climate risks.
Another important success of COP28 is the “UAE Declaration on Climate and Health”, which places health at the heart of climate action and aims to accelerate the development of sustainable societies capable of adapting to climate risks.
It is the first intergovernmental declaration to recognise the severe impacts of climate change on the health of human societies, and emphasises the significant health benefits of climate protection, including reducing healthcare costs. The UAE’s presidency of COP28 came as an affirmation from various international parties, states and organisations, of the great confidence in the state’s policies and its efforts in the field of sustainability.
During the conference, President His Highness Sheikh Mohamed bin Zayed Al Nahyan launched a $30 billion global fund for climate solutions, announced the Green Credit Initiative, and honoured the winners of the Zayed Sustainability Prize. Recently, the UAE launched a group of successive initiatives aimed at protecting the environment and reducing the risks of climate change, as it announced the launch of Industrial Decarbonisation Roadmap, with the aim of reducing industrial carbon emissions, especially in industries such as iron, steel, aluminium, and cement.
As President of COP28, the UAE launched the Net-Zero Transition Charter, encouraging private sector companies to take effective measures to confront the repercussions of climate change, in addition to the UAE Net Zero 2050 Charter.
Another key highlight is 700,000 mangrove trees, and the Zero Waste initiative, which came in cooperation between the Ministry of Climate Change and Environment and the Abu Dhabi Waste Management Company Tadweer, among others. More than 100,000 people, representing states, parties, international governmental and non-governmental organisations, regional governments, private companies, academic bodies, civil society organisations, religious organisations, and the media, are taking part in the global event, making it the largest international climate conference in history.