Saturday, June 4, 2022 – 11:16 am
ABU DHABI, June 4 / WAM / The Abu Dhabi Fund for Development participates with the international community in the celebration of World Environment Day, which falls on the fifth of June of each year. This year, it is held under the slogan “We only own one land.” Efforts to celebrate this occasion aim to unify global efforts from In order to address important environmental issues, the preservation of the environment and the sustainability of the Earth’s limited resources.
In this regard, the Abu Dhabi Fund for Development emphasized the leading role of the UAE in preserving the environment and addressing the negative effects of climate change, by launching local initiatives such as the “Emirates Green Development Strategy”, which aims to strengthen the green economy system, and maintain a sustainable environment that supports growth. The long-term economic aspect, in addition to the country’s efforts to implement international best practices in cooperation with partners and international organizations, in order to preserve ecosystems to achieve a sustainable future for future generations.
The approval of the international community for the UAE to host the twenty-eighth session of the Conference of the States Parties to the United Nations Framework Convention on Climate Change (COP28) during the year 2023, came to prove the importance of the exceptional achievements made by the UAE in investing in quality projects in the clean energy sector, and its keenness to Finding effective solutions to reduce climate challenges, and employing innovative practices in the field of climate action, in a way that contributes to stimulating the economy and building a more sustainable future.
Over the past five decades, projects funded by the Abu Dhabi Fund for Development have contributed to supporting the Sustainable Development Goals aimed at ending poverty, protecting the planet and ensuring peace and prosperity for all by 2030. The Fund’s efforts have emerged in achieving Goal 13 of the Sustainable Development Goals, which urges urgent action to address The negative effects of climate change and the reduction of carbon emissions harmful to the environment, as the strategic projects funded by the Fund and the global initiatives launched by it worked to achieve the desired goals for this goal, and to support the economic, social and environmental development of the beneficiary countries.
Among the main pillars supported by the Abu Dhabi Fund for Development is the work to encourage the spread of renewable energy projects in developing countries. The Fund has started financing renewable energy projects since 1974, and the number of projects funded by it amounted to 73 projects worth about 4 billion dirhams, and 52 countries from different continents benefited from them. The world, as these projects contributed to meeting the growing demand for energy and ensuring the safe and sustainable provision of electricity to the beneficiary countries.
In order to promote renewable energy projects, the Fund has established strategic partnerships with various national authorities, international organizations and development funds to support this vital and important sector, as concerted joint efforts contributed to the application of the best innovative technologies, the development of sustainable solutions and the reduction of climate challenges facing developing countries. Global initiatives such as the initiative of the Abu Dhabi Fund for Development to finance renewable energy projects in cooperation with the International Renewable Energy Agency (IRENA), the initiative of the Partnership Fund between the UAE and the Caribbean Islands, and the initiative of the Partnership Fund between the UAE and Pacific Island Countries to support renewable energy projects, in achieving the goals The strategy in terms of providing energy from sustainable sources, preserving natural resources, and reducing carbon emissions harmful to the environment.
In the same context, the Fund was keen to attach great importance to the agriculture and irrigation sector, as it contributed through its development projects in this sector to achieving the fifteenth goal of the sustainable development goals, which is to protect terrestrial ecosystems and promote their sustainable use, combat desertification, and confront the deterioration of the environment. lands, and stopping the loss of biodiversity, as the number of projects funded by the Fund in the agricultural sector reached 59 projects, valued at nearly 6 billion dirhams, from which 22 countries in different continents of the world benefited. These strategic projects were reflected in the development and reclamation of vast areas of agricultural land. On the sustainability of the environment and the preservation of its biological diversity, in addition to its crucial role in combating climate change, achieving food security and sustainable economic and social development for the beneficiary countries.
WAM/ Ahmed Al Nuaimi/ Reda Abdel Nour