According to the World Bank, the United Arab Emirates is the sixth largest oil producer in the world and one of the richest countries in the world with a GDP per capita of over $ 43,000 as of 2019. According to Vision 2021, an economy dependent on oil and natural gas strives for sustainable development becomes the most diverse economy in the country to the Gulf Cooperation Council (GCC). This includes the digitalisation of the economy, which has become a priority during the COVID-19 pandemic.

RELATED: Not the Same as Before: Debut of Digital Currencies in the Middle of COVID-19

Green economy for sustainable digitization
The first virtual summit of Abu Dhabi Sustainability Week 2021 was streamed live in English and Arabic on YouTube and received over 100,000 views during the event from participants from over 175 countries and over 500 influential world leaders from governments. , companies and institutions. Technologies that explore the social, economic and technological possibilities that contribute to sustainable environmental recovery following a pandemic.

At the summit, the leaders of the Gulf Cooperation Council (GCC) reaffirmed member states’ commitment to decarbonize “providing the equivalent of 354 million barrels of oil through the use” of renewable energy sources. According to the latest figures published by the International Renewable Energy Association, this means a 23% reduction in oil consumption to reduce the energy sector’s carbon dioxide emissions by 22%.

In his opening speech, Sultan Ahmed Al Jaber – Minister of Industry and Advanced Technology of the United Arab Emirates, Special Envoy for Climate Change and Chairman of the Board for Clean Energy, Masdar – pointed out that with the COVID-19 pandemic, society is now witnessing the adoption of artificial intelligence, machine learning and digitization. different spheres of life around the world. Consequently, initiatives for electrification, decarbonisation and digitization are becoming increasingly important in all industries.

Solar Energy Initiatives in Masdar
New digital technology requires high electricity consumption, which is currently produced in the United Arab Emirates, mainly through the use of fossil fuels, which has a negative impact on the environment. Given the huge reserves of hydrocarbons in the United Arab Emirates, Masdar aims to become a major producer of blue hydrogen and contribute to the country’s efforts to reduce carbon emissions by almost a quarter. Masdar recently reached an agreement with the Abu Dhabi Department of Energy and five other organizations to develop clean hydrogen fuel solutions.

But the United Arab Emirates’ Paris agreement commitment to zero emissions by 2050 is heavily dependent on solar energy to diversify Abu Dhabi’s energy sector towards renewable sources. Solar energy is the backbone of a strategy for renewable energy from several perspectives. The world’s largest solar power plant is under construction in Abu Dhabi, and the deserts are one of the best places to harvest solar energy. It never suffers from a lack of sunlight and is rich in silicon – the raw material for semiconductors from which solar cells are made. Another benefit of installing solar panels in the desert, according to a 2018 study, is that it can create a more humid environment that encourages vegetation to spread to combat desertification.

Masdar City: the space and the green technology region of the United Arab Emirates
Masdar City in Abu Dhabi, designed by Masdar, is one of the most resilient urban communities in the world, providing a strategic base where companies can build their networks locally and globally, and can explore many investment opportunities and test innovative new technologies. from start to implementation to help the UAE diversify its economy.

The city, which includes the free zone, has over 900 organizations, from international conglomerates to startups, developing innovative technologies in energy, water protection, mobility, space, blockchain technology and artificial intelligence to meet the needs of the world’s most important sustainable development issues in more than 30 years. The country.

Emirates Space Agency
Emirates’ space agency, based in Masdar City, helps support a national sustainable economy by developing satellites used for natural resource mapping, environmental monitoring, spatial planning and security, and has launched a probe to Mars.

Source: CoinTelegraph