The UAE is fast-tracking low-carbon economic growth to deliver new jobs, new industries and new revenue streams, said Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Special Envoy for Climate Change.
He was speaking at the Middle East and North Africa Climate Week (Menacw2022). Dr Al Jaber explained that the UAE is adopting a comprehensive, balanced and proactive approach to climate action and the energy transition that delivers sustainable economic growth.
“As a young country, and a responsible energy leader, the UAE has always faced the future with a positive mindset, and addressed challenges head-on. This is why we stopped flaring 30 years before the World Bank asked the industry to do so. It’s why we achieved 0.01 per cent methane intensity 20 years before the global pledge asking for a gradual reduction. It’s why we began to capture C02 (carbon dioxide) on an industrial scale before the UNFCCC (United Nations Framework Convention on Climate Change) called it an essential tool for de-carbonisation. And it’s why we became the first hydrocarbon producer to power our operations with zero-carbon energy,” Dr. Al Jaber added.
He pointed out that the UAE was also the first country in the region to sign and ratify the Paris Agreement, the first to commit to an economy-wide reduction in emissions, and the first to announce a Net Zero by 2050 Strategic Initiative. The UAE has chosen to lead in these areas because it views climate challenges “not just as problems to fix, but as opportunities to seize,” he underlined.
While the world mobilises investments for a new energy economy and addresses the climate challenge, Dr. Al Jaber emphasised that recent events have “reminded us that we cannot simply switch off the current energy system”.
“We all need to recognise that the energy transition will take time and require sober, thoughtful planning. It is more evident now than ever before that this cannot be rushed. The push to divest from hydrocarbons has led to a supply crunch that is having the biggest impact on the most exposed. The clear lesson is that we should not adopt climate policies that lead to energy poverty. We need to keep investing in low-cost, low-carbon energy that can provide the baseload power that the world relies on,” said Dr. Al Jaber.
He had reiterated this message during his speech at the Atlantic Council Global Energy Forum held at Expo 2020 Dubai.
On climate finance, he said it can be an effective tool for climate action as he urged the international community to do more and fulfil the $100 billion climate pledge made to developing nations over a decade ago.
“The international community continues to fall short of the $100 billion climate finance pledge they made to developing nations over a decade ago. We need bold targets going forward and we need to start treating climate risks as potential global security risks.
“We have taken a partnership approach focused on projects in countries most exposed to climate risks because we know that local resilience builds global resilience. We have provided over $1 billion in climate aid to more than 40 countries. And our experience tells us that once concessional finance is there, private finance will follow.”
He concluded by extending the UAE’s invitation to governments, the private sector, financial institutions, and civil society to partner on solutions that make sense for our climate and the economy. He said, “We should not have to choose between the two. We can and we must make progress on both.”
The Mena Climate Week aims to accelerate collaboration and integrate climate action into global pandemic recovery. Other dignitaries present at the opening ceremony of this first edition included Mariam bint Mohammed Almheiri, minister of climate change and environment, Saeed Mohammed Al Tayer, Chairman of the World Green Economy Organisation (Wgeo) and MD & CEO of Dubai Electricity and Water Authority (Dewa); and Patricia Espinosa, E
executive secretary of UNFCCC.
The Central Bank of the UAE (CBUAE) has imposed a financial penalty of Dh3 million on a local bank for failing to comply with anti-money laundering (AML) regulations.
The fine was issued under Article 14 of Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combatting the Financing of Terrorism and Illegal Organisations, as well as Article 137 of the Decretal Federal Law No. (14) of 2018 concerning the Central Bank and regulation of financial institutions.
The CBUAE said the penalty followed an investigation which found that the bank had not met regulatory requirements outlined in UAE legislation to combat financial crime.
In a statement, the Central Bank reaffirmed its commitment to maintaining the transparency and integrity of the country’s financial system. “We continue to supervise and regulate all licensed financial institutions to ensure full compliance with UAE laws, regulations, and standards,” the authority said.
Dubai’s Roads and Transport Authority (RTA) has urged transport operators to strictly follow regulations covering all modes of passenger transport, including chartered buses, tourist services, and international bus trips.
This comes after RTA completed over 15,500 inspections targeting operators in these sectors, as part of ongoing efforts to raise service standards and ensure safety.
“The inspections weren’t just about issuing violations,” said Saeed Al Balooshi, Director of Passenger Transport Activities Monitoring at RTA. “They’re designed to improve service quality and ensure operators meet the rules that keep Dubai’s transport sector running smoothly.”
Checks included verifying safety measures onboard and ensuring all required licences were in place. The RTA also teamed up with other authorities, including Dubai Police and the General Directorate of Residency and Foreigners Affairs at Hatta Border Post, to tackle misuse and irregularities in cross-border transport services.
Al Balooshi added that the authority is using new technologies to make inspections more effective by analysing violations and measuring the impact of enforcement campaigns. “Our goal is to ensure a reliable and high-quality experience for residents, visitors, and tourists, and to protect the reputation of Dubai’s public transport sector,” he said.
Residents and motorists in Abu Dhabi should take note: new Mawaqif paid parking zones have been activated in several areas across the city, Q Mobility announced on Thursday, July 10.
The newly introduced paid zones include:
Eastern Mangroves
Dolphin Park
Al Khaleej Al Arabi Street sectors – specifically at Al Khaleej Al Arabi Park 1, 2, 4, and 5
Al Qurm Plaza
The rollout of the Mawaqif system in these areas is now officially in effect, aligning with Abu Dhabi’s parking regulations.
Standard Parking – black and blue curbs:
Dh2 an hour
Dh15 for 24-hour parking
Premium Parking Abu Dhabi – white and blue curbs: AED 3 an hour
According to Q Mobility, this move is part of ongoing efforts to better regulate vehicle movement, ease congestion, and improve the overall efficiency of public parking across the emirate. The changes follow the completion of infrastructure upgrades such as curb painting, installation of directional and awareness signage, and public notifications.
The company has also encouraged drivers to make use of the Darb app for digital payment and to carefully follow posted instructions to avoid fines.
The expansion of Mawaqif is part of a broader strategy aimed at improving traffic flow and providing smarter, more streamlined parking solutions within Abu Dhabi Island and beyond.
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