The U.A.E-U.S. energy accord will emphasise investing in resilient supply chains

By Maria Maalouf

On Tuesday , Novembers first, 2022, both The United Arab Emirates and the United States of America have signed a partnership to place $100 billion dollars of investments in clean energy projects. This plan will add 100 gigawatts of clean energy worldwide by the 2035. Following the signing of this agreement, U.S. energy envoy Amos Hochstein said,

“Together, we will spur large-scale investment in new energy technologies, in our own countries, around the world and in emerging economies.” In addition, the agreement draft stated that this energy partnership
partnership would “assemble and stimulate” private and public sector financing and provide support for clean energy innovation, carbon and methane management. The Emirati-American energy cooperation will invest in advanced reactors including small modular reactors. It will help with the processes of industrial and transport decarbonisation. Officially, the agreement will be known as PACE or “Partnership for Accelerating Clean Energy” (PACE.)

There are many extension of this agreement as the two countries have agreed to give much needed help to environmentally sustainable energy projects in other nations. This will include technical, project management support and funding assistance for commercially energy schemes that utilize sustainable energy resources.
Dr. Sultan Al Jaber, the UAE Minister of Industry and Advanced Technology and Special Envoy for Climate Change, announced in a statement that,

“The energy transition needs a realistic, practical and economically viable plan to deliver climate progress together with energy security and inclusive economic growth.”

The U.A.E-U.S. energy accord will also emphasize investing in responsible and resilient supply chains. This will lead to more investment in green mining. It will create as well more investment opportunities in the production of minerals and materials essential to the energy transition.

This agreement inaugurated globally the transition to the historical phase of clean energy. According to the official statement of the deal, an “expert group” will be established to “identify priority projects, remove potential hurdles, and measure PACE’s progress in achieving its goal of catalyzing $100 billion in financing, investment, and other support and deploying globally 100 gigawatts of clean energy.” The stress on the introduction of 100 gigawatts is a huge enhancement of the world’s sources of energy. This entails that the Emirates is intended to have positive global implications and applications with that accord with America to as many countries as possible in the world.

The first state-issued declaration by the Emirati Government explained further that, “ “affirms the commitment of both sides to work to enhance energy security and advance progress in climate action.”
This agreement presents the world with the brilliance of the foreign policy of the United Arab Emirates. It seeks a sophisticated balance in all of domestic and foreign relations. The Emirates is a big oil-producing nation, and one of the top OPEC exporting countries. Yet, it has made significant investments in the development on non-fossil fuel energy resources. And among its great energy achievements are the construction of the world’s largest single-site solar power plant, and the building of the very first nuclear power plant in the Arab World. It is worth mentioning also that the Emirates will host the COP 28, or The United Nations Conference of the Parties and the Climate Summit in November 2023.

What the Emirates has devised intelligently in terms of energy strategies are testimonies to the wise leadership of its leaders President Sheik Muhammad Bin Zayed. He has a vision for a better world. His effort is to outline and implement a plan for a world environment that is clean, not dirty, and respectful and accommodating decent human existence. He is so conscious of the need to make the world a better place for every human being. He is pioneering the general progress of humankind toward a spotless global environment.

The world is justified in bestowing on the United Arab Emirates the accolade of the biggest contributing nation to the protection of the environment in the world. And finally, the Emirates is approaching the goals of a clean global environment through its wide angle foresighted investment in the most sophisticated types of energy production and consumption.

ABOUT THE AUTHOR

Maria Maalouf is a journalist, broadcaster, and owner of the Capitol Tv show from Washington DC. She holds an MA in Political Sociology from the University of Lyon. You can find her on Twitter @bilarakib

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