Both leaders expressed a desire to increase their investments in renewable energy and stabilize the world energy market. They also promised to continue their close collaboration.
His Majesty Sheikh Mohamed bin Zayed Al Nahyan and US President Joe Biden had a virtual meeting today. The two leaders discussed many global issues, including energy security, and underlined the depth of the U.S.-UAE strategic partnership.
During their meeting, the two leaders underlined the recently announced extensive UAE-US collaboration to promote shared climate objectives, boost global energy security, and expedite the energy transition.
The UAE-US are Collaborating to Boost Clean Energy (PACE), initiated in Abu Dhabi. On Wednesday, Dr. Sultan bin Ahmed Al Jaber, Minister of Industry, will organize $100 billion in financing and investment to implement 100 new gigawatts of clean energy in the US, the UAE, and evolving economies around the globe by 2035.
President Al Nahyan and President Biden underlined their dedication to raising climate commitment and action following their net-zero 2050 objectives by expressing their support for the PACE effort.
Both nations identified PACE as a crucial driver to attain net zero by increasing investment in clean energy projects, technology, and resources as they looked forward to COP27 in Egypt coming month and COP28 in the UAE next year. They emphasized the significance of a quick and efficient energy transition and how it may open up new economic possibilities and promote sustainable development.
Both presidents agreed that stabilizing the world energy market and boosting their investments in renewable energy were important goals, and they vowed to intensify their close collaboration. The UAE’s President Al Nahyan described the substantial continuous expenditures made by the country to reduce the carbon footprint of the conventional and renewable energy sectors.
As a nation with a long coastline and harsh environment, the UAE has long been concerned about the effects of global warming. President Sheikh Mohamed underlined this worry. He referred to the UAE as playing a pioneering role in the energy transformation, doubling its capacity for renewable energy over the previous ten years, including constructing three of the most significant and affordable solar projects worldwide. On six continents, comprising 31 tiny island developing governments in the Caribbean and the Pacific Ocean, as well as an increasing number of projects throughout the US, he informed President Biden on the money and support provided by the UAE for renewable energy initiatives.
