UAE’s Aims To Achieve Net Zero Emissions By 2050
UAE is surging ahead in the sustainability and zero emission race and as part of the net-zero emission 2050 target, they are mobilizing the private sector to align with the strategies and initiatives of the administration.
The Conference of Parties (COP) 28th summit is going to be organized in the UAE from November to December next year. Around 21 organizations signed up under the Ministry of Climate Change and Environment’s (MoCCAE) UAE Climate-Responsible Companies Pledge.
The UAE Net Zero by 2050 strategic initiative aligns with the Paris Agreement
The organizations took a vow to decrease the carbon emissions in the UAE economy, and also report their greenhouse gas emissions. Different initiatives will also be taken to develop scientific methods to reduce carbon footprint.
In 2015, UAE signed the Paris Agreement on Climate Change and UN Sustainable Development Goals (SDGs). After these agreements had been signed, the UAE was actively involved in making the economy a sustainable one.
It has started a lot of green energy campaigns and sustainable energy models in various economic sectors that would help the UAE to become a zero-emission economy by 2050.
The private sector has been a prominent presence in the UAE and the strength of the Emirates economy will be further boosted by the sustainable efforts of both the public and private sectors.
As part of these efforts, the companies have chosen to make a sustainability report that will monitor the environmental, social, and governance (ESG) factors. This has been made a rule since 2021 which is published under the Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM).
Apart from this, the companies have to employ practical strategies, set goals, and increase sustainability performance over time. A culture is being developed by this kind of model where sustainability and zero emission are not just a goal but a way of daily practice in these companies.
As these become part of the economic cycle of these companies and the nation, more opportunities would embrace the Emirate nation. Investors, customers, and new talent will be attracted to the nation as sustainable goals will become a norm in the coming years.
If companies are not shifting into these regulations and strategies then they would fall behind their competitors leading to a loss of business aspirations. The structure inside the private sector should be realigned in ways that can accommodate such measures even in the future so that if the government decided to create more stringent rules regarding sustainability, the firms should be able to adapt without many difficulties.
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The e& (formerly known as the Etisalat group) has pledged to be a zero emission company by 2030 in the COP27 summit organized this year. They had created long-term strategies for reducing their carbon footprint and also shifting to renewable forms of energy for running their tech and operations.
The research department of e& is already aiming to achieve low emission rates by working with the Science Based Targets initiative (SBTi) which is a collaborative effort by Carbon Disclosure Project and UN’s Global Compact and the World Resources Institute.
This new path laid by a huge multinational organization like e& would create an impact in the private sector motivating other companies to follow suit. It would be part of a general agenda to be ahead in the goal of attaining a sustainable economy where future generations can grow economically and socially.
The resolution for a greener future and the possibility of a sustainable society is no more limited to just speeches and statements made at big conferences and summits. They are being put into action by nations like UAE which are making very drastic yet welcome transitions into their daily administrative commitments. The future generations of these nations will be fostered in an environment that maximizes productivity by being sensitive to the environment and its resources.
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