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Sunday, July 21, 2024

Energy Ministry launches inaugural EARTH Platform.

The Ministry of Energy and Infrastructure, along with Siemens, First Abu Dhabi Bank (FAB), and Zest Associates, launches a joint program named Efficient EARTH to expedite energy efficiency solutions. This initiative reflects the UAE’s commitment to climate action by establishing a new entity that coordinates and funds global energy efficiency deployment. Efficient EARTH aims to position the UAE as a central hub for technical and financial aspects of global energy efficiency, leveraging its status as a green finance hub. The collaboration aligns with the UAE’s history in green initiatives, notably establishing Etihad ESCO in 2013. The Undersecretary for Energy and Petroleum Affairs, Sharif Al Olama, emphasizes the initiative’s practical approach to climate action, combining technology and finance for sustainable solutions beyond COP28. Recognizing energy efficiency’s potential, Efficient EARTH will work alongside the private sector to accelerate projects globally, focusing on standardization, quality control, financial intermediation, and public sector engagement. As part of the UAE EARTH Platform, Efficient EARTH contributes to a suite of initiatives aimed at advancing energy efficiency through established ESCO markets and a dynamic private sector.

(Courtesy WAM)

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