During a virtual meeting of the Major Economies Forum (MEF) on Energy and Climate Change, hosted by US President Joe Biden, President His Highness Sheikh Mohamed bin Zayed Al Nahyan stressed the importance of sustainable economic development and its connection to climate action. “Sustainable economic development and climate action are closely linked and essential to ensuring a better quality of life for all,” he said.
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Read the full story here: https://gulfnews.com/business/energy/uae-president-stresses-link-between-sustainable-development-and-climate-action-1.1682008760062
See more videos at https://gulfnews.com/videos
Read more Gulf News stories here: https://bit.ly/2HLJ2km
Subscribe to Gulf News on YouTube and watch more of our videos: https://www.youtube.com/user/GulfNewsTV
#UAEnews #uaepresident #climateaction
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NewsTranscript
00:00President Joe Biden, Your Excellencies, Your Excellencies, Your Excellencies and Your Excellencies,
00:14Peace, mercy and blessings of God be upon you.
00:19I am delighted to be part of this important meeting.
00:23I thank President Joe Biden for inviting me to participate in this meeting.
00:29I express my appreciation for his efforts to change the climate.
00:38Ladies and gentlemen,
00:41Sustainable economic development and climate action are closely linked.
00:50This is necessary to ensure a better quality of life for humanity.
00:56For this reason, we in the UAE have put climate action in the core of the state's strategy,
01:05which aims to achieve sustainable economic and social growth,
01:13in line with its commitment to its responsibility towards the environment and future generations.
01:21The UAE was the first Gulf state to agree to the Paris Agreement.
01:30It is also the first state in the region to commit to reducing emissions in all economic sectors by 2030.
01:41The UAE has also announced its strategy to achieve climate neutrality by 2050.
01:51We have invested more than $150 billion in climate action,
01:59and we have an ambitious plan for future investments in this area.
02:09Ladies and gentlemen,
02:10The UAE, in its 28th round of the CUP,
02:19will do all it can to achieve a radical progress in climate action,
02:28moving from setting goals to achieving them,
02:32and reaching a comprehensive plan that benefits humanity and the planet Earth.
02:39Ladies and gentlemen,
02:41There is a strong relationship between energy and climate change.
02:46For this reason, we must accelerate the global, logical, realistic, and balanced transition
02:54in the energy sector by increasing the production capacity of renewable energy by at least three times,
03:02and by doubling the production of hydrogen.
03:05In this context, it is necessary to strengthen international cooperation in the transfer of technology
03:14and the provision of the necessary funding to support the transition in the energy sector,
03:22and to address the losses and harms, especially in the southern countries
03:26and the most vulnerable societies, that call for climate change.
03:31It is also important to implement the countries that are advanced
03:36and have pledged to provide $100 billion to developing countries.
03:42We also need to develop the performance of international financial institutions
03:48to meet these requirements and secure the necessary funding to stimulate investments.
03:56Ladies and gentlemen,
03:58Despite the risk of climate change, the world has not yet lost its chance to face this danger,
04:07provided that real will is provided to mobilize an international community that is urgent to deal with it.
04:16We will work to make the COP28 conference a major turning point in this field.
04:26Finally, I would like to make an open invitation to the world
04:31to join us in the efforts and initiatives that aim to achieve a qualitative transition
04:39in climate action.
04:41I am confident and optimistic about your response to this invitation.
04:47Thank you for listening.
04:50We look forward to welcoming you to the UAE at COP28.
04:55Goodbye.