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ABU DHABI, UAE, Oct. 1, 2024 /PRNewswire/ -- In less than 50 days, world leaders will convene at COP29 to deliver a reinvigorated vision to accelerate climate action. Over the past week, leaders from the UAE have been in the US for high-level engagements, from the White House in Washington to the United Nations in New York, discussing advancements across climate finance, the UAE Consensus and global commitment to keep 1.5°c with reach, clean energy, green technology, nature and biodiversity, transforming food systems, and water resiliency. This lays the groundwork for the COP29 in Baku, which will present a vital opportunity to enhance collective ambitions, elevate more voices, and enable a new era of climate action, building global resilience for all.
At COP28 in Dubai, the UAE galvanized 198 Parties to deliver the historic UAE Consensus and pledged to keep 1.5°c within reach, accelerating a new era of ambitious climate action. Demonstrating the success of multilateralism and inclusion, the UAE Consensus set the world on a clear path, establishing ambitious targets to enable the world to reach Net Zero by 2050 as well as triple renewables and double energy efficiency by 2030. It also included commitments to end deforestation by the end of this decade, and significant firsts for climate finance, with the fund for loss and damage announced on the first day of COP28. This fund will help some of the most climate exposed nations respond to the impacts of climate change, recognizing the role of credit rating agencies for the first time, and scaling-up adaptation finance to meet evolving demands faced by climate-vulnerable communities.
COP28 set about the delivery of a new era in climate action, encouraging voices from across industries, sectors, youth and communities to engage in open conversation to seek new solutions to co-create climate resilience. To ensure continuity, action, and sustained multilateral cooperation, the COP Presidencies Troika also emerged out of COP28, mandating the UAE in conjunction with Azerbaijan and Brazil, as the presidents of COP29 and COP30, to lock in continuity and drive climate action. This 'Roadmap to Mission 1.5°c' will transform the UAE Consensus from agreement into tangible, sustained action and bring accountability to the next round of Nationally Determined Contributions (NDCs), due by February 2025.
His Excellency Abdulla Al Balalaa, Assistant Minister for Energy and Sustainable Affairs at the UAE Ministry of Foreign Affairs, said: "The COP28 ambition looked to revitalize a global approach on climate change priorities. From the UAE Consensus to the Action Agenda, we wanted to bring diverse voices globally to the table and spearhead a new, more inclusive model for how we convene on climate. Together, this defines the challenge as an opportunity to reimagine how we can unite to build global resilience, future-proof our communities, and safeguard our planet for future generations. COP29 is an exciting milestone to continue accelerating action together and co-creating climate resilience, bridging global priorities and capabilities and ensuring that our multilateral partnerships translate into impactful, equitable outcomes."
Through the COP28 Presidency's Action Agenda, climate action has been catalyzed across the pillars of: fast tracking a just and orderly energy transition; fixing climate finance to make it more available, affordable, and accessible; focusing on people, nature, lives and livelihoods; and fostering full inclusivity in climate action. COP28 also saw the swift adoption of the fund for loss and damage hosted by the World Bank with 19 countries, committing approximately $800 million pledged to date, including $100 million from the UAE, as well as the UAE's creation of ALTÉRRA, a $30-billion private investment vehicle to catalyze climate finance in developing economies. All these efforts led to the mobilization of an unparalleled $85.1 billion for climate action and the launch of 11 pledges and declarations, elevating multilateral climate change mitigation and adaptation commitments to new heights.
Meeting with H.H. President Mohamed bin Zayed al Nahyan of the United Arab Emirates at the White House in Washington last week, US President Biden described the UAE as 'a nation of trailblazers, always looking to the future,' President Biden referred to the nations' joint efforts: 'growing cooperation in AI, in clean energy, in space, and investing in infrastructure to connect regions...shoulder to shoulder in the same most difficult places.'
The UAE plans to invest more than US$163 billion in clean and renewable energy over the next several years to achieve net-zero emissions by 2050, pledging to triple the production capacity of renewable energy by 2030. The National Food Security Strategy 2051 aims to develop a comprehensive national system to enable sustainable food production through modern technology. In partnership with the US, the UAE has also launched the global initiative Agriculture Innovation Mission for Climate (AIM for Climate/AIM4C) and committed to investing $16 billion in climate-smart agriculture and food systems to improve agriculture and food security. The initiative has garnered the support of more than 600 state and non-state actors and partners, bringing in more than $17 billion in investments.
His Excellency Abdulla Al Balalaa concluded: "As the international community turns to COP29, taking stock of the progress we have achieved against these targets – and the gaps that still need to be addressed – will be essential for the discussions this year. The UAE Consensus must continue to act as our guiding North Star, serving as an overarching framework to deliver on our collective ambition for transformative climate action, and building a more just and equitable future for all."
For more information, please contact: media@uaeclimate.com
Accelerating Action Together
