50,000 jobs are anticipated in the UAE by 2030 as part of the nation's push for sustainable energy
The minister provided information about the amended UAE Energy Strategy 2050 during a press briefing.
According to Suhail bin Mohammed Al Mazrouei, minister of energy and infrastructure, the UAE wants to ensure sustainable economic growth by 2030 by creating 50,000 new green jobs.
The UAE Energy Strategy 2050, which was first introduced in 2017, was updated, and the National Hydrogen Strategy, which was approved by the UAE Cabinet to advance the nation's efforts to meet its climate and net-zero commitments by the year 2050, was detailed by the minister during a press briefing.
Al Mazrouei stated, "Through both policies, we hope to construct an energy-secure, economic, and climate-safe future for our country, while contributing to the global agenda for environmental sustainability.
To meet energy demand and maintain economic growth in the UAE, the UAE will invest between Dh150 and Dh200 billion by 2030 in accordance with the updated objectives. The plan seeks to increase institutional and individual energy efficiency rates in order to lower carbon emissions and improve environmental sustainability. By 2030, this would help to generate 50,000 new green jobs and save Dh100 billion in expenses.
"The UAE is a shining example of how to implement policies and plans that help to create a more sustainable future both domestically and internationally. We undertook the challenge of updating the UAE Energy Strategy 2050 to hasten the energy transition and boost the proportion of clean energy in our energy mix to assist us achieve our vision of sustainable development and become carbon neutral by 2050.
Al Mazrouei highlighted the goals set for 2030 through detailed presentations, highlighting, among other things, the total cost of generation target set between Dh350 and Dh400 billion and increasing energy efficiency by 45%.
UAE is second in the world for energy transition.
Al Mazrouei noted that the UAE has made impressive strides in the energy transition, noting that it has moved up eight spots in the Green Future Index 2023 from the previous year to hold the second-place spot globally. The rankings for the 'energy transition' category, which evaluates each nation's contribution to and growth rate of clean, renewable energy generation, showed an improvement for the UAE.
The UAE plans to increase its renewable energy capacity by 2030, according to Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology and COP28 President-Elect.
The UAE has raised its renewable energy capacity more than any other nation in the globe during the past ten years, and by 2030, it hopes to more than triple that capacity once more, bringing its total to 14.2 GW.
The new energy plan will put the UAE at the forefront of the world's energy transformation, according to Eng Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs at the Ministry of Energy and Infrastructure.
"It will support the goal of achieving net zero in the energy and water sectors by 2050 and a grid emission ratio of 0.27 kg CO2/kWh by 2030, which is lower than the global average. Additionally, it will assist the UAE in reaching its 2030 goal of 30% installed clean energy capacity in the country's entire energy mix, helping the country stay on track with its efforts to mitigate climate change.
hydrogen long-term low-carbon strategy
The National Hydrogen Strategy, according to Al Mazrouei, is a long-term strategy to make the UAE a reputable and leading producer and supplier of low-carbon hydrogen by 2031.
"The strategy serves as a crucial tool to help the UAE achieve its commitment to net zero by 2050 and accelerate the global hydrogen economy," reads a statement from the organisation.
By 2031, according to Dr. Al Jaber, the UAE will be a major producer of low-carbon hydrogen.
"The UAE will play a crucial role in accelerating the decarbonization of the global economy by building on our expertise in the energy industry and exporting hydrogen. By 2030, the world's hydrogen output must double, and the UAE is dedicated to setting the bar high as we get ready to host COP28.
In order to strengthen the UAE's position as a dependable producer and supplier of clean energy, Eng Al Olama said that the National Hydrogen Strategy contains "tangible steps" to build two hydrogen oasis and investigate three further ones.
The establishment of a legal framework and policies that support hydrogen as a sustainable fuel for the future, strengthening regional collaboration, and bolstering investments in R&D are all facilitated by the strategy.
In addition to supporting the creation of thousands of jobs in the hydrogen industry by 2050, Eng Al Olama said the strategy will also help reduce emissions in hard-to-regulate industries like heavy industry, land transportation, aviation, and sea freight by 25% by 2031.