Environment Business Majlis Holds Special Session For High-level Dialogue On Energy

DUBAI, (UrduPoint / Pakistan Point News / WAM - 01st Jul, 2021) The Environment Business Majlis held a special session dedicated to the High-level Dialogue on Energy (HLDE), co-hosted by Damilola Ogunbiyi, CEO and Special Representative of the United Nations (UN) Secretary-General for Sustainable Energy for All (SEforALL) and Co-Chair of UN-Energy.

The meeting brought together stakeholders from the UAE’s energy sector, such as the Abu Dhabi Department of Energy, Tabreed, the Emirates Nuclear Energy Corporation (ENEC), Masdar and Bee’ah. Representatives of the World Green Economy Organisation (WGEO) also attended the event.

The session aimed to brief its audience on the HLDE, which will be hosted during the UN General Assembly, as well as their potential contributions to the UAE energy sector.

The UAE is a "Global Theme Champion" of the HLDE, leading the process of achieving the Sustainable Development Goals (SDG) through inclusive and just energy transition.

The meeting began with opening remarks by Dr. Abdullah Belhaif Al Nuaimi, Minister of Climate Change and Environment, Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, Ogunbiyi and Mohamed Al Hammadi, CEO of ENEC.

The agenda also included an overview of the HLDE by Minoru Takada, Energy Team Leader at the Division of SDGs (DSDG) of the UN Department of Economic and Social Affairs (DESA), followed by a roundtable discussion.

"We are strong believers in the ability of clean energy to empower communities and change lives, as well as its instrumental role in tackling climate change. With this belief, the UAE has embarked on a transition from complete reliance on hydrocarbon energy to a diversified energy mix, which includes solar and nuclear power," Al Nuaimi said.

"As major players in the country’s energy space, you play a key role in this transition.

It is evident that the benefits of shifting to clean energy greatly outweigh the costs. From a financial perspective, every US Dollar spent on the energy transition is estimated to generate benefits valued at between US$2 and $5.5. From a social perspective, switching to clean energy sources reduces pollution, improving public health. And from an environmental perspective, using renewable sources of energy and increasing energy efficiency are the only ways for us to have a fighting chance of countering the existential threat of climate change," he added.

Al Nuaimi also called on the session’s participants to join forces and work towards a rapid reduction in energy-related greenhouse gas emissions.

"Today, renewables, alongside new technologies and services, are transforming the business of supplying and delivering power. For this energy transition, a more responsive and interconnected power system is emerging. The changing energy landscape offers new opportunities for bold leadership and action. The UAE has the natural resources, technological expertise and the political stability needed to become a key player in the global hydrogen supply chain," Al Mazrouei said.

"The UAE’s ambition to achieve an inclusive and clean energy transition raises the bar for other countries to follow ahead of the HLDE in September. We look forward to working with energy stakeholders in the UAE, to help them advance their clean energy profiles and connect them with partners in other regions," Ogunbiyi said.

The UAE’s clean energy capacity has witnessed considerable growth over the past decade and is on track to reach 14GW by 2030.

Established in 2016, the Environment Business Majlis serves as a platform for encouraging private sector entities to invest in various environmental and economic projects and contribute to the UAE’s sustainability agenda.