Minister of Climate Change and Environment Mariam Bint Mohammed Almheiri attends a meeting.

Gulf Today, Staff Reporter / WAM

Minister of Climate Change and Environment Mariam Bint Mohammed Almheiri has affirmed the UAE’s readiness to host the upcoming Conference of the Parties (COP28) this November, in collaboration with all associated partners and entities.

UAE stands ready to host Conference of the Parties (COP28) and highlight its role in enhancing global climate action and conservation as the 100-day countdown to the event begins, said Almheiri.

She underscored the UAE’s pivotal role in advancing global climate initiatives, safeguarding our natural environment and Earth, and paving the way for a brighter future for subsequent generations.

Almheiri said: “Today marks the start of a 100-day countdown to the Conference of the Parties events in the UAE. This is a moment we have been looking forward to, as it highlights the UAE’s efforts in tackling climate change on both a national and international scale. We see COP28 in the UAE as a living testament to our achievements and a hopeful glimpse into the future. It represents a crucial juncture in our commitment to assist humanity in confronting one of its most profound challenges.” She added: “The UAE’s approach to climate action hinges on inclusivity and synchronised efforts across a spectrum of stakeholders, encompassing federal and local government bodies, the private sector, and community members from diverse backgrounds. This united strategy guarantees broad participation, reflecting the UAE’s commitment to tackle climate change, adjust to its socio-economic impacts, meet our international environmental pledges, and aim to aims to limit the global temperature rise to well below 2°C and to pursue efforts to further limit it to 1.5°C. This objective remains within the world’s reach.”

Almheiri continued: “As we gear up for COP28, our focus remains on forging a resilient climate and ecological future, collaborating closely with all stakeholders to amplify our conference’s global goals. Recent times have showcased the UAE’s unwavering commitment to its climate pledges, especially with the update of our Nationally Determined Contributions and the bold target of cutting emissions by 40% by 2030, based on the business-as-usual scenario. This aligns with the UAE’s goal of reaching Net Zero by 2050, complemented by the introduction of the National Hydrogen Strategy and the revised National Energy Strategy 2050. Additionally, there has been a surge in collaborative endeavours with the local community and the private sector, all aimed at bolstering the UAE’s environmental initiatives.”

The minister said: “In the context of the UAE’s ‘Year of Sustainability’ in 2023, the 100 days before COP28 will see a myriad of initiatives unveiled by the Ministry of Climate Change and Environment, along with other pertinent governmental and private entities in the UAE. These endeavours will further our environmental and climate objectives across different sectors. Backed by our visionary leadership, the UAE will host COP28 equipped with a developmental blueprint that emphasises sustainability and reinforces the UAE’s leading position in this crucial domain.”

Almheiri concluded: “Collaboration and inclusivity stands at the heart of our endeavours, and it will mould a brighter future for us and the coming generations. As we come together, we will engage in thoughtful discussions, share expert perspectives, and collectively navigate sustainable solutions for the betterment of our environment. We will transform climate change challenges into opportunities and, united in our efforts, we will ensure that COP28 becomes a defining moment in the UAE’s and humanity’s pursuit of a sustainable future marked by prosperity, development, and global advancement.”

In a separate development, the UAE Banks Federation (UBF) revealed the remarkable success of the UAE banking and financial sector in developing sustainable banking solutions in line with the UAE’s strategy to reduce emissions and achieve climate neutrality by 2050 and with United Nations Sustainable Development Goals.

An active partner in UAE’s sustainable pursuits, UBF works in close collaboration with Central Bank of the UAE and all UBF members to support establishing the groundwork for the transformation to a sustainable economy.

According to data from UBF members, six major banks (FAB, ADCB, ENBD, DIB, Mashreq, and ADIB) have collectively dedicated over Dhs190 billion ($51.8 billion) in green financing for various projects in renewable energy, waste-to-energy, and green technology by the end of 2022.