UAE, US sign partnership to advance climate action goals, boost renewable energies

The UAE and the US have signed a strategic partnership to support the energy transition, advance shared climate goals, and boost global energy security.

The agreement was signed in the presence of the UAE’s President Sheikh Mohamed bin Zayed Al Nahyan, at ADIPEC, a global platform that brings together leaders of the global energy sector, reported the state news agency, WAM.

The UAE-US Partnership for Accelerating Clean Energy (PACE), will enable $100bn in financing and other support, in addition to deploying 100 new gigawatts (GW) of clean energy in the US, UAE, and emerging economies around the world by 2035.

Sheikh Mohamed also shared a tweet marking the milestone agreement and its significance.

Building on our close strategic ties with the United States, I was delighted to witness the launch of the Partnership for Accelerating Clean Energy which aims to ensure energy security, support climate action, and drive sustainable development for our two nations and the world. pic.twitter.com/Fx1wnL5HYe

— محمد بن زايد (@MohamedBinZayed) November 1, 2022

Looking ahead to COP27 in Egypt this month and to COP28 in the UAE next year, both countries will work together to advance their shared view to achieving net zero, accelerating investment in clean energy technology and resources.

With a focus on elevating global climate action and ensuring a just transition, PACE aims to unlock joint investment and opportunities in emerging economies. As part of the initiative, the two nations will seek to provide technical, project management, and funding assistance for commercially and environmentally sustainable energy projects in emerging economies.

“The energy transition needs a realistic, practical, and economically viable plan to deliver climate progress together with energy security and inclusive economic growth. The UAE-US Partnership for Accelerating Clean Energy will enable climate action while enhancing global energy security and affordability for the people of the UAE, the US and nations around the world,” said Dr Sultan Al Jaber, the UAE Minister of Industry and Advanced Technology and Special Envoy for Climate Change.

“The US-UAE close and strategic alliance will now join forces to accelerate the global energy transition to a cleaner and more sustainable future. PACE is a testament to the deep commitment our countries share to urgently address the climate crisis – as quickly as possible,” added Special Presidential Coordinator Amos Hochstein.

“Together, we will spur large-scale investment in new energy technologies, in our own countries, around the world, and in emerging economies. PACE will help deliver a safe and reliable global energy system that can cleanly power the world for generations to come.”

In line with PACE, the UAE and US will:

• Develop, finance and deploy clean energy projects in the US, UAE, and third countries; invest in responsible and resilient supply chains; and promote investment in green mining, production, and processing of minerals and materials that are vital to the energy transition.

• Accelerate investment in fossil fuel emissions mitigation; further develop CCUS technologies; and advance methane measurement and management, including enhancing domestic methane reduction programmes.

• Engage in the areas of advanced reactors, including small modular reactors (SMRs), and promote nuclear power as a clean energy solution to drive decarbonisation in the power sector among other areas.

• Encourage concrete investment and collaboration toward decarbonisation across all industrial sectors by 2030; scale up clean fuels in long-distance transport sectors such as aviation and shipping, and promote electrification and energy efficiency as a key pathway to reducing emissions.