UAE-Irena $1bn platform to spur energy transition

UAE-Irena $1bn platform to spur energy transition

GLASGOW / WAM

His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, and Head of the UAE delegation to the 26th Conference of Parties to the United Nations Framework Convention on Climate Change – UNFCCC (COP26), attended on Wednesday the official launch ceremony of the Energy Transition Accelerator Financing (Etaf) Platform, a new global climate finance facility to accelerate the transition to renewable energy in developing countries. The UAE and the International Renewable Energy Agency (Irena) on Wednesday announced the launch of the global platform on the sidelines of COP26, in Glasgow, the United Kingdom. The UAE committed $400 million in funding provided by the Abu Dhabi Fund for Development (ADFD) towards the platform’s goal of securing a minimum of $1 billion in total funding. His Highness Sheikh Abdullah bin Zayed Al Nahyan said, “The new Etaf platform reinforces our long-standing commitment to support positive climate action in developing and vulnerable countries. As a signatory to the United Nations Framework Convention on Climate Change (UNFCCC), the UAE fundamentally believes, we must work together globally, in partnerships, to mitigate the effects of climate change. The UAE is proud to act decisively in pushing forward a responsible, sustainability-led