UAE business leaders welcome hosting of COP28 in 2023

Business leaders in the UAE have welcomed the decision which will see the UAE host global climate change conference COP28 in 2023.

The UN Framework Convention on Climate Change (UNFCCC) officially announced on Thursday that the UAE will host the event following a unanimous endorsement by the Asia Pacific Group of nations during COP26 in Glasgow.

“We will put all our capabilities to make the conference a success. The UAE will remain committed to global climate action to protect the planet,” Sheikh Mohammed bin Rashid Al Maktoum, Prime Minister and Vice President of the UAE and Ruler of Dubai said on Twitter.

نبارك لدولة الإمارات فوزها باستضافة أهم مؤتمر عالمي للمناخ COP28 في عام 2023 .. اختيار مستحق لدولتنا .. وسنضع كل إمكانياتنا لإنجاح المؤتمر .. وستبقى دولة الإمارات ملتزمة تجاه العمل المناخي العالمي لحماية كوكب الأرض.

— HH Sheikh Mohammed (@HHShkMohd) November 11, 2021

Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA) said the decision reflects the UAE’s progress in addressing the issue of climate change.

“We [at DEWA] contribute through a clear roadmap to transform Dubai into a carbon neutral economy by 2050 by achieving net zero emissions and reaching 100 per cent clean energy by 2050. This will be achieved using renewable and clean energy solutions and technologies, creating investment opportunities in the field of green economy, and achieving a balance between economic growth and environmental sustainability,” he said.

Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, founder and CEO of Alliances for Global Sustainability (AGS), said: “The COP conferences present an invaluable opportunity to bring together world leaders, sustainability experts, NGOs and businesses, providing a catalyst for developing strategies and action plans to ensure a better tomorrow. It will be a great honour for the UAE to host COP28.”

She also stressed that the recently announced ‘Net Zero by 2050’ strategic initiative will have a huge impact on the country’s sustainability agenda.

“This commitment will not only have an environmental impact, but also an economic one, as our priority sector companies and government entities will collaborate to develop new industries, technologies, skills, and jobs, rooted in innovation, technology and science. This is our time to be strategic in our public-private partnerships and ensure that the UAE consolidates its position as a leader within the field of sustainability.”

Added Abdulnasser Bin Kalban, CEO of Emirates Global Aluminium (EGA): “COP28 will bring the world together in Abu Dhabi to make progress on climate action and sustainable economic growth. The aluminium sector is just one example in our country of what can be achieved and what must still be done to avert the worst impacts of climate change while growing global prosperity.”

Mohamed Al Hammadi, managing director and CEO of the Emirates Nuclear Energy Corporation (ENEC), said: “The UAE has been a global player in the energy industry for decades, and through a strategic and visionary approach to our energy portfolio diversification, the nation is reaping significant benefits today as it rapidly decarbonises the power sector and takes the lead internationally on delivering the clean energy transition.

“Today, nuclear energy is rapidly decarbonising the UAE’s power sector, as the Barakah plant is providing 24/7, baseload clean electricity generation, and will prevent 21 million tonnes of carbon emissions every year when fully operational. The plant is leading the biggest decarbonisation effort in the region and we look forward to sharing our model with our colleagues across the globe who are considering adding nuclear energy to their energy portfolio as a proven tool for clean and reliable electricity generation.”

The UAE has become a “global convener of choice for urgent international dialogues”, opined Dr Nawal Al Hosany, the UAE’s permanent representative to IRENA.

“Hosting the world’s most important climate change event is a timely reflection of the UAE’s ambitions to become a world leader in the fields of sustainability, renewable energy and climate action as we embark on the journey of our next 50 years of nationhood.

“As the home of IRENA’s headquarters for more than a decade, the UAE has created a collaborative platform that can drive the kind of cross sector and cross border partnerships that will be critical to overseeing an equitable and just global energy transition, which will be in the spotlight at an action-oriented COP28 in 2023.”

The UAE has affirmed that “COP28 in 2023 will and must be a ‘solutions COP’” that will ensure that the “voice of every nation and stakeholder will be heard” to not only help mitigate the effects of global warming, but also “unlock new opportunities for greater prosperity”.