UAE’s leadership in energy transformation is inspirational: OECD Secretary-General

DUBAI, Mathias Cormann, Secretary-General of the Organisation for Economic Co-operation and Development (OECD), has praised the UAE for its energy transformation policies during a keynote speech on the second morning of the World Government Summit (WGS2022).

Highlighting the impact of climate change, Cormann underlined the need for countries around the world, particularly those in the GCC, to build climate and economic resilience by transitioning to net-zero or low-carbon economies.

He said that “the strategic vision of the United Arab Emirates in this transformation is absolutely inspirational” and that the OECD “stands ready to deepen our engagement with you to help achieve this vision”.

Cormann added that growing energy insecurity and high energy prices gives governments around the world even more incentives to succeed in the green energy transition.

He said, “Nearly half of the world’s population are highly vulnerable to climate change and, by 2150, 75 percent of the global population could be exposed to periods of life-threatening climate conditions.”

“The countries of the Middle East and North Africa are already being impacted by worsening water stress and reduced agricultural productivity. The COVID-19 pandemic has increased the share of people acutely affected by food insecurity from 6 percent of the region’s population in 2019 to 20 percent in 2021, and climate change is expected to worsen this trend,” Cormann added.

He also noted the economic challenges that will face the region’s governments as low carbon policies are enacted around the world.

Cormann remarked on the progress of net-zero policies, with countries producing 83 percent of global carbon emissions having now made zero-carbon pledges. He issued a call to action for governments to accelerate the necessary socio-economic and technological transformations to ensure these pledges lead to real, tangible outcomes.

He concluded, “This is at the center of OECD action and I take this opportunity to invite all of you, policymakers, private sector leaders, experts and civil society actors to join in this effort.”

Source: Emirates News Agency