The UAE has launched an ambitious plan to create the Global Energy Efficiency Alliance, which will be introduced at COP29

Description

The UAE has launched an ambitious plan to create the Global Energy Efficiency Alliance, which will be introduced at COP29, taking place in Azerbaijan.

About the Global Energy Efficiency Alliance

• It aspires to quadruple global energy efficiency by 2030 and contribute significantly to emissions reductions.

• It also promotes innovative public-private collaborations and increases investment in energy efficiency projects.

• This project is consistent with the 'UAE Consensus' from COP28, in which all 198 participating nations, organizations, and corporations committed to lowering carbon emissions and minimizing natural resource usage.

• The UAE intends to lead the alliance by sharing its expertise in energy efficiency, promoting knowledge transfer, and developing efficient collaboration models with the private sector.

Significance

• The alliance aims to reduce carbon emissions and promote the sustainable use of natural resources via information exchange, capacity building, and standardization activities.

• The partnership would concentrate on gathering and spreading best practices, with a special emphasis on supporting African countries.

• This support will include the development of finance choices and technology solutions important to the continent's progress toward energy sustainability.

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