The UAE’s Minister of Energy and Infrastructure, Suhail Al Mazrouei, has said that a new policy regulating the local energy market will support the country’s sustainable development goals.
The policy, which is still in the early stages of development, is expected to encourage energy service providers and private sector companies to invest in government projects aimed at reducing energy and water consumption, carbon footprint, and operational costs in buildings.
Al Mazrouei said that the policy would also help to create a more competitive energy market, which would benefit consumers by driving down prices.
“The policy will support the UAE’s transition to a low-carbon economy and help us achieve our goal of net-zero emissions by 2050,” he said.
The UAE is one of the world’s leading producers of oil and gas, but it has been investing heavily in renewable energy in recent years. The country has set a target of generating 50% of its electricity from clean sources by 2050.
The new policy is expected to be finalized in the coming months.
Here are some of the key provisions of the new policy:
- The policy will require all new buildings to be built to a minimum energy efficiency standard.
- The policy will provide financial incentives for energy service providers and private sector companies to invest in energy efficiency measures in existing buildings.
- The policy will create a new regulatory body to oversee the energy market and ensure that the policy is implemented effectively.
The new policy is a significant step forward for the UAE in its efforts to achieve its sustainable development goals. The policy will help to reduce the country’s reliance on fossil fuels, improve energy efficiency, and create a more competitive energy market.
The UAE is not the only country that is taking steps to regulate its energy market. In recent years, many countries have adopted policies aimed at reducing energy consumption and promoting renewable energy. These policies are essential to addressing the global challenges of climate change and energy security.
The UAE’s new policy is a positive example of how countries can take action to address these challenges. The policy is ambitious and comprehensive, and it has the potential to make a significant contribution to the UAE’s sustainable development.
Here are some of the benefits of the new policy:
- Reduced energy consumption will lead to lower greenhouse gas emissions, which will help to mitigate climate change.
- Improved energy efficiency will save businesses and consumers money on their energy bills.
- A more competitive energy market will lead to lower prices for consumers.
- The new policy will create jobs in the energy efficiency and renewable energy sectors.
The new policy is a win-win for the UAE. It will help to protect the environment, save money, and create jobs. The UAE is leading the way in the global effort to transition to a low-carbon economy.
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