Hosting Cop28 To ESG Education; UAE’s Efforts Towards Sustainability

The year 2023 has been declared as the year of sustainability. The international nations are collectively making efforts to bring sustainable changes in lifestyles. Earth is our natural habitat and we owe a great debt and responsibility to its betterment and continuity. For centuries human activities have led to the depletion of the natural resources of Mother Earth. The rapid increase in climate change and global warming are further worsening the situation for the inhabitants of this beautiful planet. Thus it is our prime duty to work hard and bring back the aesthetics of our world. Different nations have been playing their part in the social sustainability of the planet.

UAE has been a leading country with multiple initiatives aimed at bringing positive changes in terms of climate and environment. Several great steps have been taken by the country towards the achievement of sustainability goals. Some of these actions are listed below:

Net Zero by 2050

In the year 2021, UAE announced its Net ZERO by 2050 initiative. Through this, the country pledged to release net zero emissions by the year 2050. This step made UAE the first country in the highly populated and economically stable region of MENA to make a pledge of this sort. UAE’s Ministry of Climate Change and Environment (MOCCAE) has been leading this pledge ever since. To fulfill these goals of sustainability development, the management updated its energy strategy. They have made plans to reduce emissions from the environment and energy sectors. They have also been trying to eliminate clean coal’s contributions to the energy mix. Both the institutional and individual energy consumption efficiency have been reduced by up to 45%. Management is also aiming to triple the share of renewable energy by the year 2030. Further, the government is hoping to create 50,000 new green jobs by 2030.

UAE’s Efforts Towards Sustainability

Cop28 

The United Nations has held 28 conferences in three decades to address climate change issues. The conference of parties to the convention (COP) has motivated countries to assess their climate change measures. Since 1971, the UAE has been an active country supporting the global climate agenda. The hot landscape and the preciousness of water have made climate a serious concern for the country. UAE has been considered a regional leader in the sustainability and energy sectors. Now we are all set to host the COP 28 session which has led to a tremendous opportunity for a shift in paradigm. The country is eagerly looking forward to facilitating the international climate dialogue among nations and bringing environmental sustainability. From high investment in renewable resources to encouraging low-carbon solutions UAE has been leading from all fronts. The efforts are even being made in other GCC countries to follow our lead.

ESG Investment

In 2022, the government was able to launch an ESG Investment department that assessed local and international markets to find the best opportunity. Since then UAU’s key regulators like Abu Dhabi Global Market (ADGM) and Dubai Financial Services Authority (DFSA) have been working to nurture a financial ecosystem that is based upon a sustainable framework for different organizations to make a social impact.

With its continuous effort UAE’s government has been striving to bring reasonable changes in Earth’s Climate. We should also play our role in ensuring a sustainable environment for the future generation. In order to fulfill this purpose we must shift to an eco-friendly lifestyle and bring healthy changes around you.

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