The China Mail - 'Not a switch': UAE pushes for fair energy transition

USD -
AED 3.67308
AFN 71.114318
ALL 86.889191
AMD 388.664751
ANG 1.80229
AOA 917.510284
ARS 1168.770598
AUD 1.565656
AWG 1.8
AZN 1.670907
BAM 1.720966
BBD 2.017519
BDT 121.403839
BGN 1.72331
BHD 0.376873
BIF 2971.562813
BMD 1
BND 1.313372
BOB 6.904805
BRL 5.688446
BSD 0.999212
BTN 85.298582
BWP 13.77323
BYN 3.269966
BYR 19600
BZD 2.007136
CAD 1.38783
CDF 2877.000376
CHF 0.83012
CLF 0.024385
CLP 935.749541
CNY 7.2877
CNH 7.299019
COP 4217.56
CRC 505.772209
CUC 1
CUP 26.5
CVE 97.025399
CZK 21.999009
DJF 177.933031
DKK 6.57847
DOP 59.103548
DZD 132.415587
EGP 50.820074
ERN 15
ETB 133.353689
EUR 0.88123
FJD 2.261501
FKP 0.751089
GBP 0.74935
GEL 2.740348
GGP 0.751089
GHS 14.688659
GIP 0.751089
GMD 71.99997
GNF 8653.913839
GTQ 7.695861
GYD 209.053592
HKD 7.75726
HNL 25.904547
HRK 6.640701
HTG 130.4673
HUF 357.346987
IDR 16855
ILS 3.617995
IMP 0.751089
INR 84.99675
IQD 1308.982758
IRR 42100.000502
ISK 128.019671
JEP 0.751089
JMD 158.137407
JOD 0.709204
JPY 143.486499
KES 129.296201
KGS 87.450309
KHR 3999.859222
KMF 432.483085
KPW 900
KRW 1443.654992
KWD 0.30679
KYD 0.832677
KZT 514.529832
LAK 21613.702258
LBP 89528.418515
LKR 299.431126
LRD 199.849532
LSL 18.857324
LTL 2.95274
LVL 0.60489
LYD 5.467688
MAD 9.269263
MDL 17.246006
MGA 4450.58426
MKD 54.214452
MMK 2099.879226
MNT 3570.897913
MOP 7.983598
MRU 39.74905
MUR 45.2499
MVR 15.409861
MWK 1732.630579
MXN 19.52219
MYR 4.365497
MZN 64.000063
NAD 18.857324
NGN 1610.120005
NIO 36.769655
NOK 10.422719
NPR 136.474905
NZD 1.682128
OMR 0.385001
PAB 0.999248
PEN 3.670185
PGK 4.077502
PHP 56.397981
PKR 281.172806
PLN 3.768365
PYG 7992.99601
QAR 3.642115
RON 4.385703
RSD 103.171705
RUB 82.65073
RWF 1415.687034
SAR 3.751422
SBD 8.354312
SCR 14.216056
SDG 600.501791
SEK 9.686475
SGD 1.313725
SHP 0.785843
SLE 22.696448
SLL 20969.483762
SOS 571.061523
SRD 36.881037
STD 20697.981008
SVC 8.742977
SYP 13001.925904
SZL 18.839336
THB 33.643983
TJS 10.57191
TMT 3.51
TND 2.993607
TOP 2.342096
TRY 38.45286
TTD 6.787774
TWD 32.477399
TZS 2692.533829
UAH 41.789649
UGX 3663.145483
UYU 41.717446
UZS 12917.361444
VES 83.31192
VND 26000
VUV 120.582173
WST 2.763983
XAF 577.183056
XAG 0.030318
XAU 0.000304
XCD 2.70255
XDR 0.71783
XOF 577.175439
XPF 104.940363
YER 245.102553
ZAR 18.69952
ZMK 9001.199958
ZMW 27.902454
ZWL 321.999592
  • RYCEF

    0.0100

    10.16

    +0.1%

  • AZN

    0.0200

    69.57

    +0.03%

  • RBGPF

    60.8800

    60.88

    +100%

  • BTI

    -0.4000

    42.05

    -0.95%

  • CMSC

    0.0000

    22.33

    -0%

  • RIO

    -1.1300

    60.56

    -1.87%

  • RELX

    0.3800

    53.55

    +0.71%

  • GSK

    -0.0700

    37.43

    -0.19%

  • NGG

    -0.2200

    72.04

    -0.31%

  • SCS

    -0.0600

    9.89

    -0.61%

  • CMSD

    0.0100

    22.46

    +0.04%

  • BP

    0.1900

    29.19

    +0.65%

  • BCE

    -0.3600

    21.65

    -1.66%

  • JRI

    0.1400

    12.74

    +1.1%

  • VOD

    0.0400

    9.35

    +0.43%

  • BCC

    -0.5800

    95.51

    -0.61%

'Not a switch': UAE pushes for fair energy transition
'Not a switch': UAE pushes for fair energy transition / Photo: © AFP

'Not a switch': UAE pushes for fair energy transition

The world's transition to clean energy sources must be "just" and financed by the hydrocarbon trade, the climate change minister of oil-rich United Arab Emirates told AFP.

Text size:

Mariam Almheiri was interviewed in France where a fierce heatwave set record temperatures as western Europe wilted under a scorching sun and wildfires that devoured forests.

Experts are blaming climate change and predict more frequent extreme weather to come.

"It's not a switch. We're not ready yet. And oil and gas will still be part of the energy mix for some time", she said in an interview Monday as UAE President Sheikh Mohamed bin Zayed Al-Nahyan visited Paris for energy talks.

"We need... a just transition because every country is not at the same level," the minister of climate change and the environment added, stressing the UAE was using its oil and gas wealth to ramp up renewable sources.

"You need to build your equipment from what energy you got to do that," she said. "Clean and renewable energy costs money."

The international community largely agrees that climate change poses an existential threat to the planet and future of mankind.

But action to cut carbon pollution and prepare for the accelerating impact is lagging, as is support for vulnerable countries confronting the ravages of a changing climate.

- 'We will provide' -

Adding to the pressure has been Russia's invasion of Ukraine that has sent food and energy prices spiralling.

Western sanctions aimed at crippling major energy producer Russia have resulted in sharply higher fuel costs in Europe and the United States, with inflation soaring as a result.

This has pushed the Unites States and Europe to try to persuade oil-rich countries like the UAE to increase energy supplies to bring prices back under control.

"Look at what we're going through right now. Months ago, people were pointing their fingers at us going: 'Why are you still producing?' Now they're coming to say: 'Please produce, please produce.'"

A top oil producer in OPEC, the UAE's rapid growth since the 1970s has been driven by its energy wealth.

But having diversified its economy over the decades, the desert country of one million locals and nine million foreigners relies less and less on petrol, with revenues now making up only 30 percent of GDP.

At the same time, it forecasts that the oil and gas industry would need to invest over $600 billion every year until 2030 just to keep up with expected demand.

"We are a country that has oil and gas as a natural resource. We don't have water... so as long as the world needs oil and gas we will provide," said Almheiri.

The country was built on oil, but is spending billions to develop enough renewable energy to cover half of its needs by 2050.

It is building two of the world’s largest solar power plants in the capital Abu Dhabi and Dubai.

It has also joined the nuclear club, with its Barakah nuclear power station, the first in the Arab world.

And last year, it launched a "strategic initiative" targeting carbon neutrality by 2050.

- Two-pronged approach -

Meteorologists are predicting more frequent and intense episodes of extreme weather in coming years.

"The increase in the frequency, duration, and intensity of these events over recent decades is clearly linked to the observed warming of the planet and can be attributed to human activity," the World Meteorological Organisation said.

Heatwaves of the future will depend largely on how rapidly the global economy can decarbonise.

While several towns and cities in France recorded their highest ever temperatures on Monday, the Gulf region is also at risk.

In the region, summer means suffering for anyone working outside, along with risks of dehydration, heat stroke and heart failure.

Countries of the energy-rich Gulf have banned working outdoors in the hottest hours of the day.

A study in the journal Nature Climate Change found that within this century, parts of the Gulf region could be hit by "unprecedented events of deadly heat as a result of climate change".

Almheiri said her country, which next year is hosting the United Nations Climate Change Conference COP28, has adopted a "two-pronged approach" while advocating further investments in oil and gas.

"We are ramping up our renewables because we have targets of where we want to reach, and we are decarbonising our oil and gas."

X.Gu--ThChM