FAYYAD PARTICIPATES IN COP28 CLIMATE SUMMITCommunication, cooperation are key to overcoming climate challenges: Mansour bin Zayed

Caretaker Minister of Energy and Water Walid Fayyad participated with the official Lebanese delegation headed by Prime Minister Najib Mikati in the activities of the COP28 climate summit in Dubai.

Minister Fayyad considered that “the energy file in Lebanon is a fundamental file at the level of the economy, and the issue of energy transformation is an integral part of the process of advancing the energy sector in Lebanon, as this process is based on switching from fuel to less polluting gas, and at the same time moving to renewable energy.”

The Minister considered that Lebanon has made great strides in the renewable energy sector and in reducing emissions when we lifted fuel subsidies and restructured the price of electricity, which resulted in an increase in investments in the renewable energy sector, which has become feasible.

‘Lebanon has become a pioneer in relying on renewable energy, with production exceeding one thousand megawatts, representing about 15 to 20% of consumption,” Fayyad indicated.

He
called on the international community, especially the economically developed countries that have benefited from this progress, which came at the expense of climate change “to play a major role in financing the Loss and Compensation Fund, which will contribute to addressing the negative impacts to which developing countries are exposed.”

He concluded: ‘Lebanon is in dire need of investments in the renewable energy sector … in order to continue building a financially sustainable and environmentally sustainable energy sector in Lebanon.’

Source: National News Agency – Lebanon

His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court, said that the UAE seeks a world in which peace, stability, cooperation and sustainability, prevail.

In a speech during his participation in World Climate Action Summit, His Highness Sheikh Mansour welcomed the participating delegates in the UAE, describing it as the country that ‘encompasses the whole world in one nation’.

His Highness expressed his pride in hosting the world in the World Climate Action Summit, as well as the UAE’s partnerships and investments in the fields of climate action, environment and food diversity in 106 countries around the world.

His Highness reiterated the UAE’s firm stance in climate action, as it became the first country in the region to announce carbon neutrality by 2050. ‘We have a US$163 billion strategy to diversify energy sources and shift towards clean, renewable energy,’ he added.

His Highness Sheikh Mansour bin Zayed noted to the announcemen
t by President His Highness Sheikh Mohamed bin Zayed Al Nahyan during the World Climate Action Summit to establish a US$30 billion Global Climate Fund to support climate solutions and global climate action.

“Communication and cooperation between countries, cultures and civilisations is the way to defeat climate challenges facing our planet, because everyone is responsible for everyone,” His Highness Sheikh Mansour concluded.

Source: Emirates News Agency