The United Arab Emirates on Thursday announced a plan for net-zero emissions by 2050, and would oversee 600 billion dirhams ($163 billion) in investment in renewable energy.
This makes it the first country in the Middle East and North Africa region to launch a concrete initiative to achieve that climate commitment.
The Gulf state has launched several measures over the past year – coinciding with 50 years since the country’s founding – to attract investment and foreigners to help the economy recover from the effects of the COVID-19 pandemic.
The economic initiatives also come amid a growing economic rivalry with Gulf neighbour Saudi Arabia to be the region’s trade and business hub.
“We are committed to seize the opportunity to cement our leadership on climate change within our region and take this key economic opportunity to
drive development, growth and new jobs as we pivot our economy and nation to net zero,” said Sheikh Mohammed bin Rashid Al Maktoum, vice president and prime minister of the United Arab Emirates and Ruler of Dubai.
Source : reuters
