UAE President urges global community to unite for sustainable economic and social development – News
Sheikh Mohamed addresses world leaders at the Major Economies Forum hosted by US President Joe Biden
During the meeting of the leaders of the Forum of Major Economies on Energy and Climate (MEF).
At the virtual MEF meeting, hosted by US President Joe Biden, Sheikh Mohamed joined heads of state from 17 major economies to represent the UAE as the host country of the 28th United Nations Conference on climate change (COP28).
In an address to world leaders, Sheikh Mohamed acknowledged that climate change is an issue of paramount importance. It must be tackled through collective cooperation because if not mitigated, the impacts of climate change will come at a high cost to people, the planet and the global economy, he said. .
He stressed that the UAE has long believed that climate action is an opportunity to create new paths for economic and social development, with a focus on practical solutions that can benefit all countries.
Sheikh Mohamed stressed that the UAE, as an active partner of the global community, is determined to organize a COP28 in 2023 that is up to the challenge, adopting an approach that ensures that the concerns and needs of all parties stakeholders are heard.
The UAE has invested more than $50 billion in renewable energy projects in 40 countries and plans to invest another $50 billion over the next decade.
During the meeting, Biden urged leaders to keep climate action a top priority on the global agenda, amid geopolitical instability and its impact on energy and food security.
He also called on leaders to cooperate and mitigate these immediate impacts by supporting initiatives that accelerate the transition to clean energy and reduce the vulnerability of the food system to climate and supply chain disruptions.
As the first country in the region to sign and ratify the Paris Agreement, the first in the region to commit to economy-wide emissions reductions and to announce a net zero strategic initiative of 2050, the United Arab Emirates has a proven track record of climate action, climate diplomacy and multilateral cooperation which has earned it the selection as the host country for COP28 in 2023.