UAE says oil major Shell is helping plan its net-zero push

Source: iStock/Petmal

The United Arab Emirates said oil giant Shell Plc is helping it devise a plan to reach net-zero emissions by 2050.

The UAE last year became the first of the Persian Gulf’s petrostates to commit to eliminating planet-warming emissions within its borders. Almost $165 billion would be invested in clean energy to reach the target by 2050, Sheikh Mohammed bin Rashid Al Maktoum, the UAE’s prime minister and ruler of Dubai, said when the plan was announced a year ago.

“We are currently undergoing an exercise with Shell developing a country sketch to outline the possible pathways, specifically regarding technologies which will enable us to reach net-zero emissions by the year 2050,” Yousif Al Ali, assistant undersecretary for electricity, water and future energy affairs, said at an event in the UAE emirate of Ras Al Khaimah on Wednesday.

The country is set to host next year’s COP28 climate summit, where it has pledged to make oil majors feel welcome after saying they were snubbed at last year’s meeting in Glasgow, Scotland. 

UAE Energy Minister Suhail Al-Mazrouei in April said that oil producers “felt unwanted” at the Glasgow summit, but that the energy crisis in the wake of the war in Ukraine meant that “now, we’re like superheroes.”

© 2022 Bloomberg L.P.

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