Abu Dhabi, UAE — The UAE will unveil its strategy to achieve climate neutrality by 2050 at COP27, Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment, said in an interview with Emirates News Agency (WAM).
The UAE, she said, is also working on a comprehensive assessment of the status and movement of sustainable financing solutions, including green bonds.
The COP27 began in Sharm El-Sheikh on Sunday and will conclude on November 18.
The Emirates, she added, will invite the world to participate in the efforts to spread and use renewable energy by joining the platform for accelerating the energy transition, which the country launched with the International Renewable Energy Agency (IRENA) with an allocation of an initial investment of US$1 billion
“The UAE will be keen to transfer and present its expertise in many areas within environmental and climate work during COP27,” Almheiri said. “This includes solutions to enhance the research and development system through the ‘UAE Climate Change Research Network’ model, sustainable financing and investment solutions and the expansion of reliance on Nature-based solutions.”
The country would focus on intensifying efforts to promote climate-smart initiatives to benefit the private sector, through a set of reports and evidence, she added. This, according to her, will enable the private sector to view the most important technologies available to raise operational efficiency and reduce the carbon footprint of many activities while addressing the Green Business Guide and the Green Sukuk and Bonds Guide.