UAE to invest $100 billion in global green energy production

President of the United Arab Emirates Mohammed bin Zayed Al Nahyan said his country was the first in the region to adopt a Carbon Neutrality Strategy until 2050.

The UAE intends to invest $100 billion to produce 100GW of green energy worldwide. President of the United Arab Emirates (UAE) Mohammed bin Zayed Al Nahyan said this at the high-level segment of the 27th United Nations Circular Convention on Climate Change.

"A few days ago, we signed a Strategic Partnership Programme with the US and plan to invest $100 billion to produce 100 GW of clean energy worldwide. This initiative will, among other things, help build new skills, create new jobs and be a glimmer of hope for achieving climate change goals," the UAE President said.

He said the Emirates was the first country in the region to adopt a Carbon Neutrality Strategy until 2050. He said the UAE has been working for decades to diversify the national economy and develop the non-oil sector. He said the country "will continue to supply the world with oil and gas as a reliable source of energy".