DUBAI, Francesco La Camera, Director-General of the International Renewable Energy Agency (IRENA), said the UAE is conducting pioneering efforts to address climate change and lauded the organisation of Expo 2020 Dubai, with the participation of 192 countries.
In an interview with the Emirates News Agency (WAM), on the sidelines of Expo 2020 Dubai, he congratulated the UAE for being selected to host the 28th Conference of the Parties (COP28) in 2023, and Egypt for being selected to host COP27. It was the first time the event’s host countries for two consecutive years have been revealed, underscoring the major importance of promoting international cooperation in addressing climate change, he noted.
IRENA is willing to provide all means of support to the UAE during its preparations to host this major international event in 2023, and to Egypt when it organises the 2022 edition, he added.
La Camera expressed his admiration for the UAE’s recent announcement of its strategic initiative to achieve climate neutrality by 2050, which crowns its efforts to address climate change and turn challenges into opportunities to ensure a better future for generations to come.
He then pointed out the UAE is conducting pioneering work in climate change, leading the region’s efforts to eliminate emissions.
Speaking about the recent announcement by IRENA and the UAE during COP26 in Glasgow, UK, about the launch of the Energy Transition Accelerator Financing (ETAF) Platform in developing countries, La Camera commended the UAE’s significant global efforts to promote renewable energy. Energy Transition Accelerator Financing (ETAF) Platform is an inclusive, multi-stakeholder climate finance solution managed by the International Renewable Energy Agency to advance the energy transition across the Agency’s 166-strong membership.
With anchor funding of USD400 million from the United Arab Emirates via the Abu Dhabi Fund for Development (ADFD), the Platform serves as the first global climate finance partnership from the Middle East to the world. ETAF aims to mobilise approximately USD 1 billion of capital by 2030 from various funding partners, investors, private sector, and donors.
The platform aims to attract additional investments worth $2 billion from outside donors to finance projects that will help generate 1.5 gigawatts of electricity from renewable sources by 2030.
Source: Emirates News Agency