The hydrocarbon industry should be included in the energy mix globally even as the world focuses on cutting emissions and protecting the environment, according to the UAE's Minister of Industry and Advanced Technology and special envoy for climate change.
The “hydrocarbon industry should be included as part of the mix because if we want to successfully transition through the energy system of tomorrow, we can’t simply unplug from the energy system of today and we can’t do this with a flip of a switch”, Dr Sultan Al Jaber, who is also managing director and group chief executive of Abu Dhabi National Oil Company, said during a panel discussion at the Abu Dhabi Sustainability Week Summit on Tuesday.
“We need to take time and we need to consult and engage all those relevant in the consultation and in the discussions,” Dr Al Jaber said.
“We need to make the current system more efficient with less carbon and we should leverage the expertise from across the energy sectors to help find practical and meaningful climate solutions
The UAE announced a net-zero emissions by 2050 strategy in the build up to Cop26, which was held in Glasgow, Scotland, in November. In 2023, the Emirates will become the first Gulf Arab nation to host the Cop summit.
“We want Cop 28 to be as inclusive as possible reflecting the views of developed nations alongside developing countries, also reflecting public and private sector views, scientists and civil society.”
The region can play a critical role in ensuring reliable supplies of “the least intensive oil and gas and we can make sure that this is available to the market where it is needed”, Dr Al Jaber said.
“We are of course leveraging this position to drive down the carbon intensity through many initiatives and projects such as carbon capture and storage. We are also investing our capabilities in hydrogen, both blue and green.”
One of the lightest and most abundant elements in the universe, hydrogen is being prioritised around the world as a viable alternative fuel.
Blue and grey hydrogen are produced using natural gas while green hydrogen is produced using renewable energy sources.
The UAE, the Arab world’s second-largest economy, is developing numerous clean energy projects as it aims to become carbon neutral by 2050. It is currently constructing Barakah Nuclear Energy Plant, the Arab world’s first multi-unit operating nuclear energy plant.
The UAE is also building renewable energy projects to boost the supply of clean energy in the country, including the world’s largest solar plant in the Al Dhafra region of Abu Dhabi. The 2-gigawatt plant is expected to be fully operational this year.
Dubai is developing the 5-gigawatt Mohammed bin Rashid solar park as part of its strategy to cut emissions.
“We have invested in more than 40 countries and we today already have access to 23 gigawatts of clean, zero carbon emission sources of power that positions us uniquely on the global renewable energy map,” Dr Al Jaber said.
The joining of UAE's energy giants Adnoc and Taqa in Masdar will further in increase the country's clean power generation capacity to 50 gigawatts by 2030, he added.
Taqa is set to take a major stake with a 43 per cent shareholding in Masdar’s renewable energy business with Mubadala retaining a 33 per cent share and Adnoc holding a 24 per cent stake after the completion of the transaction in the coming months.
There are investment opportunities worth at least $3 trillion in the renewable energy space globally over the next 10 years, which will provide an opportunity for the UAE to capitalise on, Dr Al Jaber said.
“In fact, this is the thinking behind our net-zero strategic initiative. We see it as a new economic development opportunity and it is an opportunity that will help us create a new industry, new skills, new jobs, new partnerships and new models of engagement with relevant parties around the world and for us, the business of tackling climate change is simply a good business opportunity.”
Killing of Qassem Suleimani
The specs: 2018 Mercedes-AMG C63 S Cabriolet
Price, base: Dh429,090
Engine 4.0-litre twin-turbo V8
Transmission Seven-speed automatic
Power 510hp @ 5,500rpm
Torque 700Nm @ 1,750rpm
Fuel economy, combined 9.2L / 100km
UAE currency: the story behind the money in your pockets
Tour de France
When: July 7-29
UAE Team Emirates:
Dan Martin, Alexander Kristoff, Darwin Atapuma, Marco Marcato, Kristijan Durasek, Oliviero Troia, Roberto Ferrari and Rory Sutherland
Biog
Age: 50
Known as the UAE’s strongest man
Favourite dish: “Everything and sea food”
Hobbies: Drawing, basketball and poetry
Favourite car: Any classic car
Favourite superhero: The Hulk original
UAE currency: the story behind the money in your pockets
Liz%20Truss
%3Cp%3EMinisterial%20experience%3A%20Current%20Foreign%20Secretary.%0D%3Cbr%3E%0DWhat%20did%20she%20do%20before%20politics%3F%20Worked%20as%20an%20economist%20for%20Shell%20and%20Cable%20and%20Wireless%20and%20was%20then%20a%20deputy%20director%20for%20right-of-centre%20think%20tank%20Reform.%0D%3Cbr%3E%0DWhat%20does%20she%20say%20on%20tax%3F%20She%20has%20pledged%20to%20%22start%20cutting%20taxes%20from%20day%20one%22%2C%20reversing%20April's%20rise%20in%20National%20Insurance%20and%20promising%20to%20keep%20%22corporation%20tax%20competitive%22.%3C%2Fp%3E%0A
Ziina users can donate to relief efforts in Beirut
Ziina users will be able to use the app to help relief efforts in Beirut, which has been left reeling after an August blast caused an estimated $15 billion in damage and left thousands homeless. Ziina has partnered with the United Nations High Commissioner for Refugees to raise money for the Lebanese capital, co-founder Faisal Toukan says. “As of October 1, the UNHCR has the first certified badge on Ziina and is automatically part of user's top friends' list during this campaign. Users can now donate any amount to the Beirut relief with two clicks. The money raised will go towards rebuilding houses for the families that were impacted by the explosion.”
Scoreline:
Barcelona 2
Suarez 85', Messi 86'
Atletico Madrid 0
Red card: Diego Costa 28' (Atletico)
Ferrari
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Countries recognising Palestine
France, UK, Canada, Australia, Portugal, Belgium, Malta, Luxembourg, San Marino and Andorra
The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E3.6-litre%2C%20V6%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3Eeight-speed%20auto%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E285hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E353Nm%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EDh159%2C900%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A
Company%C2%A0profile
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The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
ENGLAND%20SQUAD
%3Cp%3E%3Cstrong%3EGoalkeepers%3C%2Fstrong%3E%20Pickford%20(Everton)%2C%20Pope%20(Newcastle)%2C%20Ramsdale%20(Arsenal)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDefenders%3C%2Fstrong%3E%20Chilwell%20(Chelsea)%2C%20Dier%20(Tottenham)%2C%20Guehi%20(Crystal%20Palace)%2C%20James%20(Chelsea)%2C%20Maguire%20(Man%20United)%2C%20Shaw%20(Man%20United)%2C%20Stones%20(Man%20City)%2C%20Trippier%20(Newcastle)%2C%20Walker%20(Man%20City)%3Cbr%3E%3Cbr%3E%3Cstrong%3EMidfielders%20%3C%2Fstrong%3EBellingham%20(Dortmund)%2C%20Gallagher%20(Chelsea)%2C%20Henderson%20(Liverpool)%2C%20Maddison%20(Leicester)%2C%20Mount%20(Chelsea)%2C%20Phillips%20(Man%20City)%2C%20Declan%20Rice%20(West%20Ham)%3Cbr%3E%3Cbr%3E%3Cstrong%3EForwards%20%3C%2Fstrong%3EFoden%20(Man%20City)%2C%20Grealish%20(Man%20City)%2C%20Kane%20(Tottenham)%2C%20Rashford%20(Man%20United)%2C%20Saka%20(Arsenal)%2C%20Toney%20(Brentford)%3C%2Fp%3E%0A
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
THE SPECS
BMW X7 xDrive 50i
Engine: 4.4-litre V8
Transmission: Eight-speed Steptronic transmission
Power: 462hp
Torque: 650Nm
Price: Dh600,000
PROFILE BOX
Company name: Overwrite.ai
Founder: Ayman Alashkar
Started: Established in 2020
Based: Dubai International Financial Centre, Dubai
Sector: PropTech
Initial investment: Self-funded by founder
Funding stage: Seed funding, in talks with angel investors
The bio:
Favourite holiday destination: I really enjoyed Sri Lanka and Vietnam but my dream destination is the Maldives.
Favourite food: My mum’s Chinese cooking.
Favourite film: Robocop, followed by The Terminator.
Hobbies: Off-roading, scuba diving, playing squash and going to the gym.
Tailors and retailers miss out on back-to-school rush
Tailors and retailers across the city said it was an ominous start to what is usually a busy season for sales.
With many parents opting to continue home learning for their children, the usual rush to buy school uniforms was muted this year.
“So far we have taken about 70 to 80 orders for items like shirts and trousers,” said Vikram Attrai, manager at Stallion Bespoke Tailors in Dubai.
“Last year in the same period we had about 200 orders and lots of demand.
“We custom fit uniform pieces and use materials such as cotton, wool and cashmere.
“Depending on size, a white shirt with logo is priced at about Dh100 to Dh150 and shorts, trousers, skirts and dresses cost between Dh150 to Dh250 a piece.”
A spokesman for Threads, a uniform shop based in Times Square Centre Dubai, said customer footfall had slowed down dramatically over the past few months.
“Now parents have the option to keep children doing online learning they don’t need uniforms so it has quietened down.”
DEADPOOL & WOLVERINE
Starring: Ryan Reynolds, Hugh Jackman, Emma Corrin
Director: Shawn Levy
Rating: 3/5
Company%20profile
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