US and Emirates join hands on clean energy

The United States and the United Arab Emirates are investing $100 billion in clean energy. The partnership aims to deliver 100 GW of clean energy globally by 2035.

Both countries will jointly invest money to reduce harmful emissions like CO2 and methane. In addition, according to the PACE (Partnership to Accelerate the Transition to Clean Energy) agreement, money will go towards developing nuclear energy technology and making the industry and transport sector CO2-free.

The money will also go to support emerging economies that are “short of money to reduce greenhouse gases and essential for a global approach to climate change.”

Also Read | Biden heads to Egypt for climate summit

The White House sees the partnership as an important step forward for President Joe Biden’s climate agenda. Today, the President once again demonstrated his deep commitment to ensuring a global clean energy future and long-term energy security, as the United States and the United Arab Emirates announced a strong partnership to facilitate a rapid and smooth transition to clean energy. from non-depleting fossil fuels,” the White House statement said.

Egypt

The announcement comes days before world leaders gather in Egypt for the COP27 climate summit. The UAE will host the next COP28 climate summit next year.