Latest news with #EnergyTransitionAcceleratorFinancing
Al Etihad
2 days ago
- Business
- Al Etihad
UAE-BRICS partnership centres on sustainable development, economic ties
7 July 2025 00:15 MAYS IBRAHIM (ABU DHABI)The UAE has been a proactive partner within the BRICS framework, advancing ambitious environmental and sustainable development goals alongside its deepening economic the BRICS Business Forum held on the sidelines of the 17th BRICS Summit in Rio de Janeiro, Minister of Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi highlighted the UAE's deep economic and environmental cooperation with the bloc, naming renewable energy, agriculture, and logistics among priority UAE, through the Abu Dhabi Fund for Development, committed approximately $400 million in 2021 to the Energy Transition Accelerator Financing (ETAF) platform, which mobilises funding to accelerate clean energy transitions in emerging same year, the UAE had joined the BRICS-backed New Development Bank, formally enabling it to co-finance sustainable infrastructure projects alongside member country's environmental engagement continued to deepen in September 2024, when UAE's Minister of Climate Change and the Environment Amna bint Abdullah Al Dahak Al Shamsi attended a high-level BRICS climate dialogue in she announced the UAE's pledge to reduce emissions by 40% by 2030, invest $50 billion in global clean energy projects, and lead emerging carbon market initiatives within the March 2025, at the Second Meeting of the BRICS Committee of Senior Energy Officials in Brasília, the UAE reaffirmed its commitment to advancing the global energy transition and strengthening international cooperation to ensure energy highlighted the country's leadership in energy transition with investment in hydrogen, renewables, and efficiency – anchored by the historic "UAE Consensus" from COP28, which calls for tripling renewable energy capacity and doubling energy efficiency by multilateral engagement, in May 2025, the UAE struck a cross governmental roadmap with Russia, focused on biodiversity, waste management, forestry, and agreement also prioritises joint initiatives to restore endangered species and foster cooperation on environmental declarations adopted at the 2024 BRICS summit. Through these measures, the UAE continues to position itself as a key driver of sustainable development within the BRICS ecosystem. Source: Aletihad - Abu Dhabi
Gulf Today
15-02-2025
- Business
- Gulf Today
UAE leverages BRICS membership to boost global trade resilience
The UAE is harnessing its BRICS membership to accelerate global economic growth, boost cross-border trade, and drive infrastructure development worldwide, panelists said during a panel discussion at the World Governments Summit (WGS), taking place in Dubai. Sultan Ahmed Bin Sulayem, Chairman and CEO of DP World, and Mohamed Saif Al-Suwaidi, Director General of Abu Dhabi Fund for Development highlighted the UAE's strategic influence within BRICS. Serving as a vital logistics hub, the UAE is uniquely positioned to enhance trade connectivity among BRICS nations and beyond, enabling efficient and sustainable movement of goods. Today, BRICS countries are home to roughly 3.3 billion people — over 40% of the global population — and account for an estimated 37.3 per cent of global GDP, according to the World Economic Forum (WEF) figures. The bloc is expected to surpass G7 in global trade by 2026. Bin Sulayem underscored the UAE's key role, saying: 'By leveraging our strategic location and advanced logistics capabilities, the UAE is enhancing supply chain resilience and strengthening trade corridors that will benefit economies worldwide.' The UAE has cemented its position as a permanent logistics hub for BRICS by developing multimodal trade routes that cut transit times and unlock growth opportunities. Emphasizing transformative investments, bin Sulayem said: 'We have created new trade routes linking Pakistan, Afghanistan, and Central Asia, significantly reducing transit times. For example, our port in Karachi enables cargo to reach Uzbekistan in just 10 days – something that was previously impossible. Through strategic investments, we are addressing global bottlenecks and ensuring seamless trade flows.' Al-Suwaidi emphasized the UAE's commitment to fostering sustainable economic growth through its BRICS membership, stating: 'The UAE's inclusion in BRICS presents a unique opportunity to strengthen economic ties, not only through government cooperation but also by engaging the private sector. At ADFD, we are focused on financing projects that drive sustainable development, especially in sectors such as transport, energy, and infrastructure. These efforts are closely aligned with the BRICS agenda, contributing to the economic integration and connectivity between the UAE and BRICS member countries.' He added, 'As part of this, ADFD is prioritizing large-scale infrastructure projects, including ports, railways, and airports, which are essential for enhancing trade flows and facilitating smoother economic exchanges. On the sustainability front, the UAE has committed $400 million through ADFD to the Energy Transition Accelerator Financing (ETAF) platform, which is designed to accelerate the clean energy transition in emerging markets. This collaboration aligns with the BRICS focus on sustainable development and reflects our ongoing commitment to global renewable energy initiatives.' 'Furthermore, ADFD is actively exploring partnerships with international financial institutions like the New Development Bank (NDB), which plays a critical role in supporting infrastructure and sustainable development within BRICS,' Al-Suwaidi continued. 'In addition to financing, we are focused on knowledge transfer and capacity-building, helping to share the UAE's expertise in key sectors such as renewable energy, logistics, and agriculture to accelerate development in BRICS countries.' Through its BRICS partnership, the UAE is addressing the $4 trillion global infrastructure gap, channeling investments into critical projects like ports, airports, and logistics hubs. These efforts solidify the country's role as a global trade leader, ensuring prosperity for BRICS economies and beyond. Held under the theme 'Shaping Future Governments', this year's WGS convenes over 30 heads of state and government, more than 80 international and regional organizations and 140 government delegations. Its agenda features 21 global forums exploring major future trends and transformations, over 200 interactive sessions with more than 300 prominent speakers—including presidents, ministers, experts, thought leaders, and decision-makers—and over 30 ministerial meetings and roundtables attended by more than 400 ministers. The summit, which runs until Feb. 13, will also publish 30 strategic reports in partnership with its international knowledge partners. Separately, The World Governments Summit (WGS) unveiled the second edition of the Productivity Potential Index (PPI), created in collaboration with Strategy& Middle East, part of the PwC network. This latest edition builds on last year's launch by expanding its scope to include 60 countries, up from 25, offering an even more comprehensive look at what drives productivity in today's world.
Emirates 24/7
13-02-2025
- Business
- Emirates 24/7
WGS Panelists: UAE leverages BRICS membership to boost global trade resilience, infrastructure leadership
The UAE is harnessing its BRICS membership to accelerate global economic growth, boost cross-border trade, and drive infrastructure development worldwide, panelists said during a panel discussion at the World Governments Summit (WGS), taking place in Dubai. Sultan Ahmed bin Sulayem, Chairman and CEO of DP World, and Mohamed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development highlighted the UAE's strategic influence within BRICS. Serving as a vital logistics hub, the UAE is uniquely positioned to enhance trade connectivity among BRICS nations and beyond, enabling efficient and sustainable movement of goods. Today, BRICS countries are home to roughly 3.3 billion people — over 40 percent of the global population — and account for an estimated 37.3 percent of global GDP, according to the World Economic Forum (WEF) figures. The bloc is expected to surpass G7 in global trade by 2026. Bin Sulayem underscored the UAE's key role, saying, 'By leveraging our strategic location and advanced logistics capabilities, the UAE is enhancing supply chain resilience and strengthening trade corridors that will benefit economies worldwide.' The UAE has cemented its position as a permanent logistics hub for BRICS by developing multimodal trade routes that cut transit times and unlock growth opportunities. Emphasising transformative investments, he said, 'We have created new trade routes linking Pakistan, Afghanistan, and Central Asia, significantly reducing transit times. For example, our port in Karachi enables cargo to reach Uzbekistan in just 10 days – something that was previously impossible. Through strategic investments, we are addressing global bottlenecks and ensuring seamless trade flows.' Al Suwaidi emphasised the UAE's commitment to fostering sustainable economic growth through its BRICS membership, stating, 'The UAE's inclusion in BRICS presents a unique opportunity to strengthen economic ties, not only through government cooperation but also by engaging the private sector. At ADFD, we are focused on financing projects that drive sustainable development, especially in sectors such as transport, energy, and infrastructure. These efforts are closely aligned with the BRICS agenda, contributing to the economic integration and connectivity between the UAE and BRICS member countries.' He added, 'As part of this, ADFD is prioritising large-scale infrastructure projects, including ports, railways, and airports, which are essential for enhancing trade flows and facilitating smoother economic exchanges. On the sustainability front, the UAE has committed US$400 million through ADFD to the Energy Transition Accelerator Financing (ETAF) platform, which is designed to accelerate the clean energy transition in emerging markets. This collaboration aligns with the BRICS focus on sustainable development and reflects our ongoing commitment to global renewable energy initiatives.' 'Furthermore, ADFD is actively exploring partnerships with international financial institutions like the New Development Bank (NDB), which plays a critical role in supporting infrastructure and sustainable development within BRICS,' Al Suwaidi continued. 'In addition to financing, we are focused on knowledge transfer and capacity-building, helping to share the UAE's expertise in key sectors such as renewable energy, logistics, and agriculture to accelerate development in BRICS countries.' Through its BRICS partnership, the UAE is addressing the US$4 trillion global infrastructure gap, channelling investments into critical projects like ports, airports, and logistics hubs. These efforts solidify the country's role as a global trade leader, ensuring prosperity for BRICS economies and beyond. Held under the theme 'Shaping Future Governments', this year's WGS convenes over 30 heads of state and government, more than 80 international and regional organisations and 140 government delegations. Its agenda features 21 global forums exploring major future trends and transformations, over 200 interactive sessions with more than 300 prominent speakers—including presidents, ministers, experts, thought leaders, and decision-makers—and over 30 ministerial meetings and roundtables attended by more than 400 ministers. The summit, which runs until 13th February, will also publish 30 strategic reports in partnership with its international knowledge partners. Follow Emirates 24|7 on Google News.
