IEF Secretary General, Dr Sun Xiansheng, welcomed the Undersecretary of the Ministry of Energy and Industry of the United Arab Emirates, Dr Matar Hamed Al Neyadi on 24 February 2019 to give a lecture on the realities of the energy landscape and the need for energy transition.
In his presentation Dr Matar Hamed Al Neyadi noted that energy consumption and production represent around two-thirds of the global greenhouse gas emissions and 81% of the global energy mix is still based on fossil fuels; the same percentage as 30 years ago. Energy transitions are needed to shape a more secure, sustainable, and affordable energy systems for all that respond to global energy-related challenges, while creating value for business and society, without compromising the balance between energy security, access and environmental sustainability, and inclusive economic development and growth.
Dr Matar Hamed Al Neyadi highlighted that hydrocarbons will continue to play a major role in energy matrices, but that renewable energy and efficiency measures could potentially achieve 90% of required carbon reductions according to the International Renewable Energy Agency. Providing further insights into the policies that the United Arab Emirates pursues to achieve a 50% clean energy mix by 2050 he referred to the deployment of renewable and nuclear energy technologies, energy efficiency and other demand side measures as key drivers.
Discussions focused on the progress made in establishing an Arab energy market and how to advance renewable technologies, through greater interconnections and the provision of flexibility and balancing services including storage, for successful energy transformations within the region. Discussants noted that investment in research and development and communication on the role of new and existing technologies is key to improve energy sector performance and better inform policy.