The United States and the United Arab Emirates will invest 100 billion dollars in clean energy

With this envelope, the two countries want to develop low-emission energy sources to reach 100 gigawatts of clean energy deployed around the world before 2035.

Washington announced on Tuesday a 100 billion dollar agreement with the United Arab Emirates to promote a transition to clean energy, a few days before the UN climate conference COP27. “Through the Partnership for Accelerating Clean Energy (PACE), the United States and the United Arab Emirates will focus on the incremental development of low-emission power sources, with the goal of deploying 100 gigawatts of clean energy in the world by 2035,” White House spokeswoman Karine Jean-Pierre said in a statement.

The statement underlined that the two partners will raise “100 billion dollars to finance clean energy in the two countries, support significant commercial investments and provide other assistance to emerging countries whose clean development is both under -funded and essential to the global climate effort”.

“Our countries will also invest in the management of harmful emissions such as carbon and methane, the development of advanced nuclear technology and the decarbonisation of the industry and transport sectors,” Ms Jean-Pierre added.

A rapprochement in a context of tensions between Washington and Riyadh

US President Joe Biden will attend the UN COP27 climate conference which will take place from November 6 to 18 in Sharm el-Sheikh, Egypt. He said on Friday that he wanted to build “on the considerable work that the United States has undertaken to advance the fight against climate change at the global level”. The United Arab Emirates will host the next edition of the UN climate conference, COP28, in 2023.

This joint initiative of the United States and the United Arab Emirates comes at a time when relations are strained between Washington and its historic partner in the Middle East, Saudi Arabia. On October 5, OPEC+ — the 13 members of the Organization of the Petroleum Exporting Countries (OPEC) led by Saudi Arabia and their 10 partners led by Russia — decided to slash its oil production quotas. black gold, in order to support crude prices which were falling.

The move has angered US President Joe Biden ahead of crucial midterm elections on November 8, and the US administration has accused Riyadh of playing into Russia’s hands as it seeks to fund its war on Ukraine.

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