Realising Net Zero Ambitions: A Game Plan for UAE Industries — Special Report 2023

The need to tackle climate change has never been more urgent. The months of June, July and August of 2023 were the hottest ever recorded globally. Across every inhabited continent, wildfires and floods have become more frequent and intense. Several recent studies predict that temperatures in the Middle East may increase by 5°C by the end of the century, creating major health and livelihood challenges.
The UN Intergovernmental Panel on Climate Change report released in March predicts that the world will surpass the target of limiting warming to 1.5°C above preindustrial temperatures by the early 2030s. Nevertheless, the same report warns that while time is running out, there is still time to turn the tide on the climate crisis. To do so, the world needs clear strategies to reduce greenhouse gas emissions.
Our actions in the coming years will shape the world that future generations inherit: we have a moral duty to safeguard their future. As if this motivation were insufficient, there is also a clear economic benefit to embracing net zero. The costs and technological hurdles are formidable. But the drive for net zero will unleash efficiencies and innovation that could transform the global economy, creating wealth and improving lives.
Momentum has been steadily building since the Paris Agreement of 2015. But more must be done: countries and companies must now prioritise and accelerate efforts to reach net zero by 2050.
Public and private sector have a responsibility to their citizens to act and are in the unique position to exercise leadership: binding targets that include all sectors must be backed by clear and comprehensive policies that incentivise immediate action. Likewise, companies – as the drivers of economic growth and innovation – must recognise their responsibilities to stakeholders and meet the challenge of net zero in order to enhance longterm resilience and competitiveness.
We hope this report serves as a call to action for public and private sector to further unite in the pursuit of a sustainable, net zero future by 2050. Together, we can forge a path toward a world where people, prosperity, and the planet thrive in harmony.