The UAE has one of the largest oil reserves in the world and is home to Dubai, a city that pretty much evolved by building skyscraper after skyscraper. It hardly sounds like a hotbed of sustainability. Yet the country now has a number of federal and local strategies and initiatives in place as it aims to meet a sustainable future, from ones in the next few years to the UAE Centennial in 2071.
Expo 2020 Dubai
In just a few years’ time on October 20th, 2020, the Dubai Expo 2020 will begin. The city was awarded the honor of holding the World Expo by the general assembly of the Bureau International des Expositions in 2013. While the theme of the expo will be ‘Creating Minds, Creating the Future’ it will include a big focus on sustainability.
The Expo Live segment is a partnership program launched by the Expo 2020 Dubai to fund and promote creative and sustainable solutions to improve lives and preserve the world. $100m is to be allocated to grants, prize money and for events focussing on the opportunity, mobility, and sustainability.
UAE Vision 2021
The UAE Vision 2021 National Agenda was launched in 2010 by Vice President and Prime Minister of the UAE H.H. Sheikh Mohammed bin Rashid Al Maktoum. This was split into six national priorities to be met by 2021, with one of these being a sustainable environment and infrastructure.
This focuses on improving air quality, preserving water sources and growing the amount of clean energy used within the country. Various indicators are in place to measure pe the performance of these goals, with many hoped to be met by 2021 and demonstrate the UAE’s application to greater sustainability.
Dubai Clean Energy Strategy 2050
Much further in the future is the highly ambitious Dubai Clean Energy Strategy 2050. This aims to provide 75% of the city’s power output from clean energy sources and make Dubai the city with the world’s lowest carbon footprint by 2050. Establishing a sustainable energy model that supports economic growth forms part of the plan too.
In order to achieve this, a variety of projects are already underway or planned for the coming years. These include the likes of the creation of the largest single-site solar park in the world and the Shams Dubai initiative that encourages citizens to install solar panels.
UAE Centennial 2071
Similar to the UAE Vision 2021 but part of a much larger five-decade plan, the UAE Centennial 2071’s main aim is to make the UAE the best country in the world by that year. The four main aims focus on education, economy, government development, and community cohesion, and sustainability has a big part to play in ensuring these are all improved. For a brighter economy and community, a sustainable life needs to be in place.
The Wider Effect of a Sustainable UAE
The UAE clearly has some ambitious plans for its future, most of which focus on improving sustainability in various ways. As an oil-rich nation that has relied on fossil fuel to build up its wealth, for those who invest in the commodity, CFD trades and more could see the markets impacted by a greater focus on clean energy. It may not be for a few years still but being prepared for any financial traders is advisable.
A more sustainable future appears to be in the pipeline for the UAE if it can meet the targets of these strategies it has set.
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(This is a sponsored guest post authored by Edward Roebuck. The views expressed in this article are the author’s own. )