The Japan Times - 'Not a switch': UAE pushes for fair energy transition

EUR -
AED 4.236833
AFN 76.142197
ALL 93.45107
AMD 420.704816
AOA 1059.063247
ARS 1713.99192
AUD 1.649976
AWG 2.076594
AZN 1.965807
BAM 1.955822
BBD 2.316627
BDT 142.031626
BHD 0.433705
BIF 3413.239071
BMD 1.153663
BND 1.476217
BOB 13.658156
BRL 5.861191
BSD 1.150213
BTN 109.651255
BWP 15.68318
BYN 3.345938
BYR 22611.798836
BZD 2.313326
CAD 1.617379
CDF 2624.584211
CHF 0.93183
CLF 0.027184
CLP 1073.37276
CNY 7.788731
CNH 7.790705
COP 3653.005322
CRC 522.40598
CUC 1.153663
CUP 30.572075
CVE 110.266262
CZK 24.240891
DJF 204.822345
DKK 7.480664
DOP 66.730764
DZD 153.303755
EGP 59.017676
ERN 17.304948
ETB 183.804404
FJD 2.554153
FKP 0.856626
GBP 0.855675
GEL 3.016876
GGP 0.856626
GHS 13.446154
GIP 0.856626
GMD 84.798688
GNF 10097.115581
GTQ 8.7761
GYD 240.602754
HKD 9.047262
HNL 30.819353
HRK 7.538386
HTG 150.391722
HUF 365.192535
IDR 20799.39394
ILS 3.533613
IMP 0.856626
INR 110.048515
IQD 1506.817248
IRR 1586431.11648
ISK 142.062532
JEP 0.856626
JMD 182.092084
JOD 0.817993
JPY 181.627012
KES 148.781703
KGS 100.888291
KHR 4660.799756
KMF 492.614593
KRW 1664.690302
KWD 0.356644
KYD 0.958511
KZT 545.026239
LAK 26048.298174
LBP 103004.479089
LKR 386.12442
LRD 207.612377
LSL 19.024918
LTL 3.406468
LVL 0.69784
LYD 7.359084
MAD 10.744823
MDL 20.10023
MGA 4919.056308
MKD 61.525704
MMK 2422.354323
MNT 4147.524662
MOP 9.292006
MRU 46.226529
MUR 54.222569
MVR 17.836069
MWK 1994.42283
MXN 20.013177
MYR 4.712949
MZN 73.731051
NAD 19.024918
NGN 1574.012366
NIO 42.330485
NOK 10.926464
NPR 175.442008
NZD 1.961512
OMR 0.443645
PAB 1.150213
PEN 3.898045
PGK 5.150059
PHP 70.667684
PKR 319.439457
PLN 4.312336
PYG 6858.078504
QAR 4.204648
RON 5.247557
RSD 117.498334
RUB 91.443047
RWF 1688.519328
SAR 4.320672
SBD 9.322873
SCR 15.583178
SDG 692.198315
SEK 10.985993
SGD 1.479693
SLE 28.499711
SOS 657.307524
SRD 43.587131
STD 23878.499126
STN 24.50028
SVC 10.064115
SZL 19.022218
THB 38.676603
TJS 10.616322
TMT 4.049358
TND 3.381339
TRY 54.813428
TTD 7.810089
TWD 37.273824
TZS 3047.993231
UAH 51.336988
UGX 4319.04944
USD 1.153663
UYU 46.28053
UZS 13768.157604
VES 860.282504
VND 30341.919148
VUV 137.643052
WST 3.154711
XAF 655.964509
XAG 0.020031
XAU 0.000285
XCD 3.117833
XCG 2.072924
XDR 0.815809
XOF 655.964509
XPF 119.331742
YER 274.922082
ZAR 19.102044
ZMK 10384.357384
ZMW 21.606247
ZWL 371.479082
  • CMSC

    0.0300

    21.84

    +0.14%

  • AZN

    -1.7000

    169.64

    -1%

  • RBGPF

    0.0000

    69.21

    0%

  • RIO

    -0.3300

    96.85

    -0.34%

  • RYCEF

    -0.3100

    19.55

    -1.59%

  • NGG

    -0.4200

    79.97

    -0.53%

  • BTI

    -1.0400

    60.65

    -1.71%

  • GSK

    -0.3800

    51.69

    -0.74%

  • BCE

    -0.0200

    21.68

    -0.09%

  • BP

    1.0000

    45.22

    +2.21%

  • CMSD

    0.0900

    22.11

    +0.41%

  • VOD

    -0.3600

    15.78

    -2.28%

  • BCC

    1.0000

    76.38

    +1.31%

  • RELX

    -1.1900

    35.42

    -3.36%

  • JRI

    0.0900

    12.96

    +0.69%

'Not a switch': UAE pushes for fair energy transition
'Not a switch': UAE pushes for fair energy transition / Photo: Giuseppe CACACE - AFP

'Not a switch': UAE pushes for fair energy transition

The world's transition to clean energy sources must be "just" and financed by the hydrocarbon trade, the climate change minister of oil-rich United Arab Emirates told AFP.

Text size:

Mariam Almheiri was interviewed in France where a fierce heatwave set record temperatures as western Europe wilted under a scorching sun and wildfires that devoured forests.

Experts are blaming climate change and predict more frequent extreme weather to come.

"It's not a switch. We're not ready yet. And oil and gas will still be part of the energy mix for some time", she said in an interview Monday as UAE President Sheikh Mohamed bin Zayed Al-Nahyan visited Paris for energy talks.

"We need... a just transition because every country is not at the same level," the minister of climate change and the environment added, stressing the UAE was using its oil and gas wealth to ramp up renewable sources.

"You need to build your equipment from what energy you got to do that," she said. "Clean and renewable energy costs money."

The international community largely agrees that climate change poses an existential threat to the planet and future of mankind.

But action to cut carbon pollution and prepare for the accelerating impact is lagging, as is support for vulnerable countries confronting the ravages of a changing climate.

- 'We will provide' -

Adding to the pressure has been Russia's invasion of Ukraine that has sent food and energy prices spiralling.

Western sanctions aimed at crippling major energy producer Russia have resulted in sharply higher fuel costs in Europe and the United States, with inflation soaring as a result.

This has pushed the Unites States and Europe to try to persuade oil-rich countries like the UAE to increase energy supplies to bring prices back under control.

"Look at what we're going through right now. Months ago, people were pointing their fingers at us going: 'Why are you still producing?' Now they're coming to say: 'Please produce, please produce.'"

A top oil producer in OPEC, the UAE's rapid growth since the 1970s has been driven by its energy wealth.

But having diversified its economy over the decades, the desert country of one million locals and nine million foreigners relies less and less on petrol, with revenues now making up only 30 percent of GDP.

At the same time, it forecasts that the oil and gas industry would need to invest over $600 billion every year until 2030 just to keep up with expected demand.

"We are a country that has oil and gas as a natural resource. We don't have water... so as long as the world needs oil and gas we will provide," said Almheiri.

The country was built on oil, but is spending billions to develop enough renewable energy to cover half of its needs by 2050.

It is building two of the world’s largest solar power plants in the capital Abu Dhabi and Dubai.

It has also joined the nuclear club, with its Barakah nuclear power station, the first in the Arab world.

And last year, it launched a "strategic initiative" targeting carbon neutrality by 2050.

- Two-pronged approach -

Meteorologists are predicting more frequent and intense episodes of extreme weather in coming years.

"The increase in the frequency, duration, and intensity of these events over recent decades is clearly linked to the observed warming of the planet and can be attributed to human activity," the World Meteorological Organisation said.

Heatwaves of the future will depend largely on how rapidly the global economy can decarbonise.

While several towns and cities in France recorded their highest ever temperatures on Monday, the Gulf region is also at risk.

In the region, summer means suffering for anyone working outside, along with risks of dehydration, heat stroke and heart failure.

Countries of the energy-rich Gulf have banned working outdoors in the hottest hours of the day.

A study in the journal Nature Climate Change found that within this century, parts of the Gulf region could be hit by "unprecedented events of deadly heat as a result of climate change".

Almheiri said her country, which next year is hosting the United Nations Climate Change Conference COP28, has adopted a "two-pronged approach" while advocating further investments in oil and gas.

"We are ramping up our renewables because we have targets of where we want to reach, and we are decarbonising our oil and gas."

T.Sasaki--JT