Singapore shows keen interest to partner with UAE for new projects and solutions and to achieve a low-carbon economy. Another area of interest is UAE’s net-zero strategy.
Grace Fu Hai Yien, Minister for Sustainability and the Environment of the Republic of Singapore said that UAE has strategies and ideas to decarbonize the economy and Singapore is heading there. She was visiting the UAE for the Abu Dhabi Sustainability Week (ADSW).
“In this journey of decarbonization, there will be many new opportunities and technologies [which need to be tested and piloted]. So, I’m here to explore the opportunities for us to work together in this new phase of sustainable development. We are having a discussion with the [UAE] Minister of Climate Change and the Environment to look at whether we could come up with some projects and maybe pilot some technologies. I think there are many areas where we [can] find commonalities and common topics,” the minister said.
Last year, UAE became the first country in the MENA region to announce net-zero carbon emissions by 2050. Singapore has also committed to half its emissions by 2050.
“Talking to some of the UAE ministers and decision-makers about how they see the transition to [net-zero economy] was very interesting because we are also looking at the net-zero path and obviously we are looking for new solutions. This transition towards renewable energy and also to look at how we can decarbonize as societies, give me a lot of inspiration,” she said.
“The compliance market, airlines, maritime, shipping, are all sectors that are looking for carbon credit solutions, in addition to new technologies. I think there are immense opportunities for discussion and I think it will be the leadership of COP27 and the leadership of COP28 that will guide us towards that future,” she concluded.
The Minister was confident about the UAE’s ability to handle issues including global warming and climate change during the 28th session of the Conference of the Parties (COP28) which will be hosted by UAE in 2023 in Abu Dhabi.
Recently, United Arab Emirates (UAE) Industry Minister Sultan al-Jaber said that the world needs an investment of at least $3 trillion in renewable energy in the coming 10 years.