UAE makes net-zero commitment: press
Oil- and gas-rich UAE said October 7 it was leading the Middle East and North Africa with its commitments to reach net-zero emissions by 2050, the nation's official news agency reported.
“With our announcement today of our plan to achieve climate neutrality by 2050, the UAE continues our effective role in climate control issues, adding our support to international efforts to mitigate climate change with a range of effective community and economic initiatives,” crown prince Mohamed bin Zayed al-Nahyan was quoted by the Emirati News Agency as saying.
The announcement follows a steady string of new low-carbon efforts. UK energy company BP signed agreements last month with the Abu Dhabi National Oil Co (ADNOC) and Emirati clean energy company Masdar that could lead to “billions of dollars” in clean energy and low-carbon investments.
Among the agreements is an arrangement to develop 2 GW of low-carbon hydrogen hubs in the UK and in the UAE. Included in that is the potential for the first international investment in a facility at Teesside, on the UK North Sea coast. A blue hydrogen facility there could be in service by 2027.
The UAE said the net-zero commitment aligns with a national “Principles of the 50” objective which, among other things, outlines a path “to build the best and most dynamic economy in the world.”
The UAE is one of the world's largest oil and gas producers. According to estimates from BP, the nation produced 3.66mn b/d of oil and 55.4bn m3 of natural gas last year.
The International Energy Forum, which offered a note of praise for the UAE’s net-zero commitment, said net-zero ambitions are realistic for oil and gas producers with the right technology in place.
“An economy can retain a small amount of fossil fuel use while contributing no CO2 overall, if it balances emissions by removing CO2 through initiatives such as carbon capture, utilisation, and sequestration,” the IEF stated.
As part of the agreements reached with ADNOC last month, BP said it would tighten its focus on decarbonising oil and gas operations in Abu Dhabi, with the potential for further collaboration in carbon capture and storage.