A comprehensive strategy involving both public and private sectors is essential to meet the UAE's Net Zero target by 2050, as highlighted by an industry expert at the 'Journey to Net Zero Forum' organized by Khaleej Times on Tuesday.
"The path to Net Zero is one of the paramount challenges of our era and requires a united effort and a common vision to balance the health of our planet with economic growth," said Eugene Mayne, founder and group CEO of Tristar, in his keynote speech before an audience of senior executives from various fields including energy, oil and gas, manufacturing, waste management, transport, tourism, and green project finance.
"The journey to Net Zero is not merely an endpoint, but a pledge to protect our environment for a sustainable and prosperous future for everyone," he continued. Mayne further explained, "Net Zero does not mean eradicating all emissions. Rather, it involves significantly reducing carbon emissions and compensating for any residual emissions through measures such as reforestation or technological advancements like carbon capture and storage."
"This equilibrium is vital because excessive greenhouse gases in our atmosphere are the main contributors to global warming, resulting in more frequent and intense climate phenomena," he emphasized. According to UN Climate Action, "to limit the global temperature rise to 1.5°C above pre-industrial levels, as stipulated in the Paris Agreement, emissions must decrease by 45% by 2030 and achieve Net Zero by 2050, allowing only a minimal amount of carbon emissions to be absorbed naturally."
Mayne outlined seven pivotal strategies that will propel climate action.
