“The cooperation comes within the framework of the close friendship between the United Arab Emirates and the United States of America” and “affirms the commitment of both parties to work to improve energy security and promote progress in climate action,” according to a statement from the United Arab Emirates government. The White House described the new partnership as a major achievement in President Joe Biden’s climate agenda. “Today, President Biden again demonstrated his deep commitment to securing a global clean energy future and long-term energy security, as the United States and the United Arab Emirates announced a strong partnership to ensure the rapid and smooth transition toward clean energy and away from fossil fuels without interruption,” the White House said in a statement. .
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The two countries will establish a group of experts to identify priority projects, remove potential obstacles and measure PACE’s progress in achieving its goal of accelerating $100 billion in financing, investment and deploying 100 gigawatts of clean energy worldwide. The UAE is a major oil exporter but has invested heavily in developing non-fossil fuel energy sources, including building the world’s largest single-site solar power plant and the Arab world’s first nuclear power plant. It plans to host the COP 28 climate summit in 2023.