The United Arab Emirates (UAE) announced its Energy Strategy 2050 which aims to enforce energy efficiency and clean energy, according to a statement of the UAE Ministry of Cabinet Affairs and the Future on Tuesday.
The newly-announced and first-of-its-kind Energy Strategy 2050 focuses on a comprehensive energy-generation plan for the next three decades.
The country aims to increase by 40 percent the use of energy efficiency from both individuals and institutions and raise clean-energy contributions by 50 percent.
The program also aims to reap savings of United Arab Emirates Dirham (AED) 700 billion by 2050.
Additionally, the country set a target to enrich its share of clean energy by 44 percent by 2050. Natural gas sources have a target of 39 percent, clean fossil fuels with 12 percent and nuclear energy has a 6 percent goal.
"UAE's energy strategy will integrate renewable, nuclear and clean fossil energy to achieve a balance between the country’s economic needs and environmental goals," the statement read.
"The country will also invest AED 600 billion by 2050 to ensure the initiatives of the energy strategy are met, while supporting the continued growth of the UAE economy," according to the statement.
Vice-President and Prime Minister of the UAE and Ruler of Dubai Sheikh Mohammed said in the statement that the national energy strategy represents a commitment to international environmental regulations and added that, "It is a best practice and is an ideal example of balancing environmental sustainability with economic growth by considering the ratios of production and consumption."
"Our goals for 2050 include increasing the usage of clean energy from 25 percent to 50 percent, resulting in a 70 percent reduction in the UAE’s carbon footprint over the next three decades," he said.
He added that Gulf States have similar economic structures, and explained that by having this strategy, "a unified energy plan, ensuring sustainable development for our peoples and strong economic growth will ensue."
The implementation of the strategy will be reviewed every five years.
United Arab Emirates Dirham (AED) equals US$0.27
By Gulsen Cagatay