Today's Edition
BAKU (WAM)
The UAE has announced the launch of an initiative to establish the "Global Energy Efficiency Alliance" at COP29, aiming to double annual global energy efficiency rates by 2030 and reduce emissions.
This initiative aligns with the UAE's historic 'UAE Consensus' from COP28, where countries, organisations, and companies committed to reducing carbon emissions and minimising natural resource consumption.
Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs at the Ministry of Energy and Infrastructure (MoEI), said in statements on the sidelines of the UAE's national pavilion events at COP29 in Azerbaijan.
He added that the UAE's initiative to establish the Global Energy Efficiency Alliance came as a result of a global desire to increase energy efficiency, and discussions were held with many countries around the world who welcomed the establishment of the Alliance.
Al Olama emphasised that the UAE will play a leading role in this alliance by providing best practices in the fields of energy efficiency, knowledge transfer and partnership models with the private sector.
He called on governments, organisations and leaders to join the alliance and unite efforts to set ambitious goals that encourage investments in energy efficiency projects and develop the policies and technologies needed to achieve sustainability goals.
He added that the alliance aims to reduce carbon emissions and minimise the consumption of natural resources by promoting knowledge sharing, capacity building, public-private partnerships, and standardisation. This will also encourage investments in energy efficiency projects and develop the necessary policies and technologies to achieve sustainability goals.
He noted that the alliance seeks to compile and share best practices for promoting energy efficiency from its member countries, particularly with African nations. This includes initiatives related to financing and technological solutions, which are crucial for Africa.
