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UPDATED 1 Sept: The EI library in London is temporarily closed to the public, as a precautionary measure in light of the ongoing COVID-19 situation. The Knowledge Service will still be answering email queries via email , or via live chats during working hours (09:15-17:00 GMT). Our e-library is always open for members here: eLibrary , for full-text access to over 200 e-books and millions of articles. Thank you for your patience.
UPDATED 1 Sept: The EI library in London is temporarily closed to the public, as a precautionary measure in light of the ongoing COVID-19 situation. The Knowledge Service will still be answering email queries via email , or via live chats during working hours (09:15-17:00 GMT). Our e-library is always open for members here: eLibrary , for full-text access to over 200 e-books and millions of articles. Thank you for your patience.
UAE unveils net zero initiative for 2050
In early October, the UAE announced a net zero initiative worth about $165bn to reduce carbon emissions to net zero by 2050. Sheikh Mohammed bin Rashid, VP and Ruler of Dubai became the first of the Persian Gulf’s petro-states to commit to eliminating emissions within its borders.
The new target aligns the UAE with over 100 nations worldwide in a bid to tackle climate change and keep global warming below 2°C.
However, the UAE relies heavily on oil and gas exports, which make up 30% of its GDP, and is reported to have one of the world’s highest emission rates per capita – ahead of Australia and the US. In fact, state energy giant Abu Dhabi National Oil Company (ADNOC) is actually set to increase its oil production capacity to 5mn b/d from just over 4mn within a decade. Yet the state believes expansion could still be compatible with a net zero goal under UN rules, as it will only be responsible for implementing measures to cut emissions from the production of exported fuel.
The new target aligns the UAE with over 100 nations worldwide in a bid to tackle climate change and keep global warming below 2°C.
However, the UAE relies heavily on oil and gas exports, which make up 30% of its GDP, and is reported to have one of the world’s highest emission rates per capita – ahead of Australia and the US. In fact, state energy giant Abu Dhabi National Oil Company (ADNOC) is actually set to increase its oil production capacity to 5mn b/d from just over 4mn within a decade. Yet the state believes expansion could still be compatible with a net zero goal under UN rules, as it will only be responsible for implementing measures to cut emissions from the production of exported fuel.
Abu Dhabi is home to the International Renewable Energy Agency (IRENA) and the city’s $240bn sovereign wealth fund has invested heavily in its renewable energy arm Masdar.
In the run-up to COP26 there are also reports that Saudi Arabia, which produces over 10% of the world’s oil, is promising to reduce its carbon emissions to net zero by 2060.
