ADSW 2023 highlights role of private sector to sustain UAE’s $43bn investment in clean energy

ADSW 2023 highlights role of private sector to sustain UAE’s $43bn investment in clean energy

UAE, Dubai – The UAE is investing heavily in environmentally friendly energy projects and witnessing significant increases in its clean energy production. The nation’s commitment is exemplified through forward-looking initiatives such as the recent launch of the UAE Energy Strategy 2050 as well as its progress thus far in launching 11 environmentally-friendly energy projects worth $43bn (AED159bn).

Speaking at a panel discussion titled ‘Unleashing Private-Sector Investment in Energy Transition’ on the sidelines of Abu Dhabi Sustainability Week 2023, Walid Sheta, President for the Middle East and Africa Zone, Schneider Electric, outlined the sustainable financing solutions that have taken centerstage in funding transformative green projects to accelerate the region’s energy transition.

Sheta was joined on the panel by Amb. Patricia Espinosa-Cantellano, CEO and Founding Partner, Onepoint5; Paul Dickinson, Founder Chair, CDP; Helle Kristoffersen, President of Strategy and Sustainability, TotalEnergies; and Eugene Willemsen, PepsiCo CEO – Africa, Middle East and South Asia.

Sustainable finance is a key focus area for Abu Dhabi Global Market (ADGM), which has spearheaded forward-looking initiatives such as the UAE Guiding Principles on Sustainable Finance, the Abu Dhabi Sustainable Finance Declaration, the Executive Certificate in Sustainable Finance and the Abu Dhabi Sustainable Finance Forum.

The onus is on executives leading major private