November 3, 2022
2 mins read

MBZ, Biden discuss energy security

Both leaders also shared their common interests in stabilizing the global energy market and in increasing their investments in renewable energy and pledged to deepen their close cooperation…reports Asian Lite News

President Sheikh Mohamed bin Zayed Al Nahyan, met virtually with US President Joe Biden. The two leaders reaffirmed the depth of the U.S.-UAE strategic relationship and addressed global challenges including energy security.

In the meeting, the two leaders highlighted the just announced comprehensive UAE-US initiative to accelerate the energy transition, advance shared climate goals and strengthen global energy security.

Launched in Abu Dhabi yesterday by Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology & Special Envoy for Climate Change and Amos Hochstein, the Special Presidential Coordinator, the UAE-US Partnership for Accelerating Clean Energy (PACE) will mobilise $100 billion in funding and investment to deploy 100 new gigawatts of clean energy in the US, UAE, and emerging economies around the world by 2035.

In welcoming the PACE initiative, President Sheikh Mohamed and President Biden reaffirmed their shared commitment to enhancing climate ambition and climate action, in line with their net zero 2050 goals.

Looking ahead to COP27 in Egypt later this month and to COP28 in the UAE next year, both countries recognized PACE as a significant catalyst to reach net zero by accelerating investment in clean energy projects, technologies, and resources.

They noted the importance of a rapid and well-managed energy transition and its potential to create expanded economic opportunities and drive more sustainable growth.

Both leaders also shared their common interests in stabilizing the global energy market and in increasing their investments in renewable energy and pledged to deepen their close cooperation.

President Sheikh Mohamed outlined the UAE’s significant ongoing investments to lower carbon impact on the energy sectors of both conventional and renewable energy.

President Sheikh Mohamed expressed the UAE’s long-standing concern about the impacts of global warming, particularly on countries like the UAE with long coast lines and severe climates.

He noted the UAE’s leading role in the energy transition, expanding its own renewable energy capacity 200-fold over the last ten years which included building three of the largest and lowest-cost solar projects in the world.

He briefed President Biden on the UAE’s funding and assistance for clean energy projects on six continents, including in 31 small island developing states in the Caribbean and the Pacific Ocean as well as a growing number of projects across the US.

ALSO READ: Biden pledges strong US-Brazil ties in call with Lula

Previous Story

India, Bhutan hold talks to increase defence cooperation

Next Story

Gulf central banks hike interest rates

Latest from -Top News

India opens world’s highest rail bridge

Prime Minister Narendra Modi inaugurated the world’s highest railway bridge over the Chenab River in Jammu and Kashmir and flagged off the much-awaited Vande Bharat Express to Srinagar, marking a historic moment

Sisi, MBZ cement ties

UAE and Egypt bolster ties through high-level talks in Abu Dhabi and a landmark cardiac care initiative delivering lifesaving treatment to rural communities The United Arab Emirates and Egypt reaffirmed their strong

‘UAE leads global fight against plastic waste’

UAE accelerates its fight against plastic pollution with a bold single-use plastic ban and expanded environmental policies to safeguard natural ecosystems for future generations The United Arab Emirates continues to lead the

70,000 Gaza kids starve

WFP warned that any further escalation of conflict could paralyse relief operations altogether, deepening the plight of civilians—especially children, the elderly, and vulnerable groups As the humanitarian crisis in Gaza intensifies, the

Prayers on the Mount

The Day of Arafat, considered the pinnacle of the Hajj pilgrimage, witnessed a congregation of believers from around the world As the sun blazed overhead and temperatures climbed to a sweltering 41°C,
Go toTop

Don't Miss

UAE participates in Arab Ministers of Interior Council

Sheikh Saif bin Zayed headed the UAE delegation to the

‘India’s role key in combating spread of synthetic drugs’

Notably, Fentanyl is considered a highly potent synthetic opioid, which