Focus on Energy Transition and Investment at Global Energy Summit

The 16th World Future Energy Summit commenced in Abu Dhabi, focusing on facilitating global energy transition, promoting investment in clean and renewable energy, and building a sustainable future. Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, president and CEO of the UAE Independent Climate Change Accelerators, emphasized the importance of blended finance in supporting climate initiatives, stating that global warming can only be limited to 1.5 degrees Celsius with significant financial resources.

Recent studies show that blended finance in the Middle East and North Africa is still in its early stages, with commitments totaling .2 billion, of which billion are dedicated to climate initiatives. Francesco La Camera, director-general of the International Renewable Energy Agency, stressed the need to accelerate renewable energy capacity to at least 11 terawatts by 2030 to meet climate goals.

Leen Alsebai, head of the summit, highlighted the event as a crucial platform for actionable climate strategies. Organized by Masdar, the UAE’s state-owned Abu Dhabi Future Energy Company, the summit addresses energy security, water security, climate change, and sustainable development in the Middle East. The three-day event is expected to host over 30,000 participants and exhibitors from more than 170 countries, including government officials, multinational companies, and international organizations.