More than a year since the start of the war in Ukraine, the repercussions have had a seismic impact on the energy transition.
The vulnerability of a world reliant on a single source of energy has been painfully underscored, further reinforcing the urgent need to diversify the global energy mix. Long-standing energy ties and supply lines have shifted to new paradigms, perhaps irreversibly, as new partnerships have emerged. In short, we have witnessed a major reshuffling of the global energy system.
As the dialogues held at the Munich Security Conference last month showed, this altered energy landscape doesn’t end with the supply of hydrocarbons. It will extend to green energy solutions in the future.
This climate of geopolitical volatility has laid bare the importance of driving an inclusive energy transition. But this very energy transition now hangs in the balance.
Increased prices for minerals and metals necessary for the development of renewable and clean energy technologies mean that countries pursuing net-zero targets now have to contend with so-called ‘greenwalls’ to push through their plans.
Access to energy in the developing world has also been greatly impacted. Rising energy prices, and the consequent rising cost of electricity generation have meant that the 70 million people who gained access to electricity prior to the conflict can no longer afford it. As a knock-on-effect, this also means access to clean cooking fuels is once again restricted, forcing people in climate-vulnerable communities to resort to high-emitting fuels, putting their health at further risk.
While this new landscape is still evolving, one thing is certain: we will not return to the way things were.
While there is certainly no silver bullet to this complex, unfolding situation, it underlines the already-compelling point that we must accelerate the shift towards more sustainable energy solutions, as we define the contours of tomorrow’s energy system.
Countries across the world have recognised this and acted, putting a robust and diverse energy mix at the heart of energy security policies implemented in the wake of the conflict. From the EU to the US and Canada, and from Australia to India, a raft of policies have been designed to increase the share of renewables in national energy mixes, decarbonise industrial processes and raise emissions reduction ambitions.
While this new landscape is still evolving, one thing is certain: we will not return to the way things were
It follows, then, that global investments in energy transition technologies in 2022 – including energy efficiency – set a new record high, to reach $1.3 trillion. That’s an increase of 19 per cent from 2021 investment levels, and a 50 per cent spike from before the pandemic in 2019, according to a new report from the International Renewable Energy Agency (Irena) and the Climate Policy Initiative (CPI).
These figures clearly demonstrate that in response to geopolitical uncertainty and disruptions to traditional energy sources, many countries are accelerating their transition plans, recognising the benefits of a more diverse and sustainable energy mix.
However, the joint report by Irena and the CPI — launched on the side-lines of the Spanish International Renewable Energy Conference (SPIREC) in Madrid this week — also finds that, although global investment in renewable energy reached a record high, this still represents less than 40 per cent of the average investment needed each year between 2021 and 2030, according to Irena’s 1.5°C Scenario.
With renewable energy expected to account for 95 per cent of the net increase in global power capacity from all sources combined over the next two years, the international community must build on this momentum to secure an inclusive energy transition, and overcome the emerging hurdles on the road to net zero economies.
More from Nawal Al-Hosany
We must ensure that investments are going into the right technologies and the right solutions for a practical energy transition, to diversify the energy mix, support the development of new industries and create new jobs.
As more countries adopt ambitious renewable energy targets and policies, the UAE continues to play a leading role as a reliable energy producer, while driving the development of clean and renewable energy solutions.
Following a landmark agreement signed with Germany in September aimed at accelerating joint efforts to boost energy security, decarbonisation and combat climate change, the UAE delivered its first batch of low-carbon ammonia, in another demonstration of the UAE’s commitment to delivering energy solutions to where they are needed.
Such partnerships with the international community will be crucial to ensuring the energy transition stays on track. Indeed, partnerships will be a key area of focus at Cop28 in the UAE this year, as we leverage our convening power to bring nations together to build consensus on the most efficient way forward for climate action in this evolving geopolitical context.
Because while the Ukraine conflict has exposed the major vulnerabilities in today’s energy system, we’ve seen that renewable solutions can bridge the gap between supply and demand. The key to progress lies in striking the balance between energy security and climate progress – a topic that we cannot afford to lose sight of.
'Tell the Machine Goodnight' by Katie Williams
Penguin Randomhouse
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Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
Padmaavat
Director: Sanjay Leela Bhansali
Starring: Ranveer Singh, Deepika Padukone, Shahid Kapoor, Jim Sarbh
3.5/5
Abu Dhabi race card
5pm Abu Dhabi Fillies Classic Prestige | Dh110,000 | 1,400m
5.30pm Abu Dhabi Colts Classic Prestige | Dh110,000 | 1,400m
6pm Abu Dhabi Championship Listed | Dh180,000 | 1,600m
6.30pm Maiden | Dh80,000 | 1,600m
7pm Wathba Stallions Cup Handicap | Dh80,000 | 1,400m
7.30pm Handicap (TB) |Dh100,000 | 2,400m
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
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UAE currency: the story behind the money in your pockets
The biog
Hobby: Playing piano and drawing patterns
Best book: Awaken the Giant Within by Tony Robbins
Food of choice: Sushi
Favourite colour: Orange
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Three tips from La Perle's performers
1 The kind of water athletes drink is important. Gwilym Hooson, a 28-year-old British performer who is currently recovering from knee surgery, found that out when the company was still in Studio City, training for 12 hours a day. “The physio team was like: ‘Why is everyone getting cramps?’ And then they realised we had to add salt and sugar to the water,” he says.
2 A little chocolate is a good thing. “It’s emergency energy,” says Craig Paul Smith, La Perle’s head coach and former Cirque du Soleil performer, gesturing to an almost-empty open box of mini chocolate bars on his desk backstage.
3 Take chances, says Young, who has worked all over the world, including most recently at Dragone’s show in China. “Every time we go out of our comfort zone, we learn a lot about ourselves,” she says.
My Cat Yugoslavia by Pajtim Statovci
Pushkin Press
UAE currency: the story behind the money in your pockets
Killing of Qassem Suleimani
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
WHEN TO GO:
September to November or March to May; this is when visitors are most likely to see what they’ve come for.
WHERE TO STAY:
Meghauli Serai, A Taj Safari - Chitwan National Park resort (tajhotels.com) is a one-hour drive from Bharatpur Airport with stays costing from Dh1,396 per night, including taxes and breakfast. Return airport transfers cost from Dh661.
HOW TO GET THERE:
Etihad Airways regularly flies from Abu Dhabi to Kathmandu from around Dh1,500 per person return, including taxes. Buddha Air (buddhaair.com) and Yeti Airlines (yetiairlines.com) fly from Kathmandu to Bharatpur several times a day from about Dh660 return and the flight takes just 20 minutes. Driving is possible but the roads are hilly which means it will take you five or six hours to travel 148 kilometres.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
Profile of Bitex UAE
Date of launch: November 2018
Founder: Monark Modi
Based: Business Bay, Dubai
Sector: Financial services
Size: Eight employees
Investors: Self-funded to date with $1m of personal savings
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UAE rugby in numbers
5 - Year sponsorship deal between Hesco and Jebel Ali Dragons
700 - Dubai Hurricanes had more than 700 playing members last season between their mini and youth, men's and women's teams
Dh600,000 - Dubai Exiles' budget for pitch and court hire next season, for their rugby, netball and cricket teams
Dh1.8m - Dubai Hurricanes' overall budget for next season
Dh2.8m - Dubai Exiles’ overall budget for next season
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
Sri Lanka-India Test series schedule
- 1st Test India won by 304 runs at Galle
- 2nd Test India won by innings and 53 runs at Colombo
- 3rd Test August 12-16 at Pallekele
Our legal advisor
Rasmi Ragy is a senior counsel at Charles Russell Speechlys, a law firm headquartered in London with offices in Europe, the Middle East and Hong Kong.
Experience: Prosecutor in Egypt with more than 40 years experience across the GCC.
Education: Ain Shams University, Egypt, in 1978.
The specs
Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now
From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
Match info
Manchester United 4
(Pogba 5', 33', Rashford 45', Lukaku 72')
Bournemouth 1
(Ake 45 2')
Red card: Eric Bailly (Manchester United)
TO A LAND UNKNOWN
Director: Mahdi Fleifel
Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa
Rating: 4.5/5
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Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
Read more from Aya Iskandarani
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
Mohammed bin Zayed Majlis
MATCH INFO
What: Brazil v South Korea
When: Tonight, 5.30pm
Where: Mohamed bin Zayed Stadium, Abu Dhabi
Tickets: www.ticketmaster.ae
More coverage from the Future Forum
In numbers: China in Dubai
The number of Chinese people living in Dubai: An estimated 200,000
Number of Chinese people in International City: Almost 50,000
Daily visitors to Dragon Mart in 2018/19: 120,000
Daily visitors to Dragon Mart in 2010: 20,000
Percentage increase in visitors in eight years: 500 per cent
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Company%20Profile
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RESULT
Manchester United 1 Brighton and Hove Albion 0
Man United: Dunk (66' og)
Man of the Match: Shane Duffy (Brighton)
Best Foreign Language Film nominees
Capernaum (Lebanon)
Cold War (Poland)
Never Look Away (Germany)
Roma (Mexico)
Shoplifters (Japan)
if you go
The flights
Fly direct to Kutaisi with Flydubai from Dh925 return, including taxes. The flight takes 3.5 hours. From there, Svaneti is a four-hour drive. The driving time from Tbilisi is eight hours.
The trip
The cost of the Svaneti trip is US$2,000 (Dh7,345) for 10 days, including food, guiding, accommodation and transfers from and to Tbilisi or Kutaisi. This summer the TCT is also offering a 5-day hike in Armenia for $1,200 (Dh4,407) per person. For further information, visit www.transcaucasiantrail.org/en/hike/
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The low down
Producers: Uniglobe Entertainment & Vision Films
Director: Namrata Singh Gujral
Cast: Rajkummar Rao, Nargis Fakhri, Bo Derek, Candy Clark
Rating: 2/5
New Zealand T20 squad
New Zealand T20 squad: Tim Southee (captain), Finn Allen, Todd Astle, Hamish Bennett, Mark Chapman, Devon Conway (wicketkeeper), Lockie Ferguson, Martin Guptill, Adam Milne, Daryl Mitchell, Glenn Phillips, Ish Sodhi, Will Young
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
