R.A.C.E - UAE Independent Climate

foreign [Music] for your kind introduction your excellencies distinguished guests ladies and gentlemen good afternoon it's a real honor to be here today with with all of you to discuss this topic of great importance in the speeches that we've heard earlier on we covered a range of topics the importance of Regulation awareness collaboration and ecosystems four components that make the key topics of today's agenda financing the transition to Net Zero and creating sustainable Capital Market with a focus on voluntary carbon markets are important factors to be considered when tackling the delicate balance between progress and development for conservation of our natural resources today and well into the future as you may know I am extremely passionate about sustaining our delicate environment and I believe that our economy and our environment global economy and our environment are interconnected and should work in symbiosis this is a global race and so there is an initiative by the United Nations called the race to zero and that initiative was created to Rally leadership in support of businesses cities municipalities and investors were worldwide to create a zero carbon recovery for a more healthy and resilient economy and I believe initiatives like this are transformational as it encourages people corporate and governments globally and locally to take strides and transitioning to naziru and ultimately leading to standardized Global Climate regulations this also prevents future climate threats it creates decent jobs and unlocks inclusive sustainable growth with the goal of achieving Net Zero carbon emissions by 2050 at the latest this could easily be seen as the race of Our Lives as the Founding Father of the UAE my great grandfathered when Sultana may his soul rest in peace once said future Generations will be living in a world that is very different from that which we are accustomed it is essential that we prepare ourselves and our children for that new world when we consider the current destabilization of our planet the issues surrounding the topic of sustainability feel both extremely difficult and terribly burdensome which often discourages people to identify solutions to these challenges therefore it is important that we acknowledge the grave responsibility we have not only for our future Generations but also for every living creature that we share this planet with climate change has caused chaos and has affected millions of people already this Summit and that is with only a 1.5 degree increase in temperature to mitigate these harmful effects of rising temperatures and catalyze climate action now we recently launched the uae's independent climate change accelerators a non-partisan think tank to fast-track our transition towards a green economy I am incredibly proud to be leading this new organization as we bring together the public and private sectors the third second Academia Global ngos and relevant International organizing organizations to drive policy change and to enable collaboration cooperation and innovation at cop 27 in Egypt I was honored and humbled to hear from the UAE delegation about the significant steps being taken right now to tackle climate change globally including the release of the Net Zero guidelines which has considered the recommendations of 1200 experts globally it was heartwarming to hear that there is a global focus on cracking down on green washing when it comes to achieving Net Zero outcomes as Her Excellency Miriam our minister of climate change and environment in the UAE has repeatedly highlighted the UAE is committed to developing a sustainable Nation altering reforms and policies to accelerate Net Zero carbon emissions however we cannot win this race by racing alone we must collaborate locally and globally to create a healthy zero carbon future this is our Collective Duty when it comes to reducing carbon emissions the United Arab Emirates in accordance to the United Nations framework convention on climate change is a non-annex one country and we are not obliged to reduce emissions however the UAE has chosen to implement actions to reduce its carbon emissions and continue to support green infrastructure and clean energy projects not only locally but worldwide and this is by expanding the role of low-carbon Technologies in the economy and investing in renewable energy and nuclear power the uae's national Net Zero by 2050 pathway launched last week during cop 27 highlights how we as a nation will aim to achieve net zero emissions by 2050 beginning with an increase in emission Cuts now aiming for a major reduction of emissions of 49 within the next eight years a major factor of the implemented initiatives to reduce carbon emissions is a significant Improvement in air quality by reducing pollution rising from Industries energy transportation and thereby ushering a positive impact on public health the national Net Zero by 2050 pathway will not only increase the uae's chances of success in limiting global warming to 1.5 degrees Celsius in line with the Paris agreement but it will also enhance transparency which is a commendable outcome for everyone involved we must also understand that the raised to zero is not just focused on what governments are doing to reduce carbon emissions with the Middle East and North Africa regions among the most vulnerable to the effects of climate change and warming at twice the global average it is up to every stakeholder to play our role be it corporate municipalities investors and individuals and with climate disasters in the Middle East and Central Asia Rising faster than anywhere in the world there is an urgent call to action now a call Regulators are all too aware of which is why collaboration is key to success the private sector has a critical responsibility to help achieve net zero emissions businesses can no longer afford to turn a blind eye to its rule in these efforts or use green washing to hide from their responsibilities while large businesses in the UAE such as Etihad adnak I and and Manchester are taking actions and have defined road maps to reduce emissions increase renewable energy sources and scale low-carbon Technologies there is still much more to be done businesses must begin implementing ESG reporting and announcing their commitment to net zero emissions with a defined road map and policies with science-based Target settings that validate their commitments with the Middle East particularly under the spotlight when it comes to climate change it is a unique opportunity for us to host the next cop Summit here in the UAE it is therefore Paramount that we shoulder our responsibility towards the planet that we call home while it may feel overwhelming right now a race is best broken down an achievable components which is simply placing one step in front of the other our ability to tackle the challenge of climate change and deliver the tangible results required to mitigate and adapt to Net Zero depends on the active participation of all sectors success however is team sport meaning it cannot be achieved if the onus is put on one stakeholder be it a given sected regulated business or individual we all must play our role and fulfill our responsibility towards a healthier planet and the future of humanity locally and globally with that I would like to conclude and challenge you with this question what is the step that you are willing to take so that we win this race thank you