WASHINGTON: The US announced a clean energy partnership on Tuesday with the UAE worth $100 billion, the White House said.
The Partnership for Accelerating Clean Energy will aim to develop low-emission energy sources to distribute 100 gigawatts of clean energy worldwide by 2035, White House spokeswoman Karine Jean-Pierre said in a statement.
The two countries will also invest in managing harmful emissions such as carbon and methane, as well as in developing nuclear technology and decarbonizing industrial and transportation sectors. Funds will also go toward supporting “emerging economies whose clean development is both underfunded and essential to the global climate effort,” the statement said.
“PACE also reflects our unwavering commitment to working closely with allies and partners to accelerate the clean energy transition and deliver the climate action our shared future depends on.”
The announcement comes days before world leaders convene in Egypt for the UN COP27 climate summit. The UAE, a major oil producer, will host the COP28 in 2023. Fossil fuels are the largest contributor to climate change, accounting for 75 percent of the world’s greenhouse gas emissions, according to the UN.