Companies Pledge to Boost Private Sector Share to UAE Net Zero by 2050

Companies Pledge to Boost Private Sector Share to UAE Net Zero by 2050

Pledge forms nucleus of future cross-sectoral alliances to tackle climate change

The Ministry of Climate Change and Environment (MOCCAE) today rolled out the UAE Climate-Responsible Companies Pledge to increase engagement of the private sector in the country’s decarbonization drive in line with the UAE Net Zero by 2050 Strategic Initiative.

The pledge forms a nucleus of future collaboration among the private sector, NGOs, and international organizations, aiming to support private sector entities as they move towards implementing their net-zero plans.

The launch took place as part of the fourth installment of the National Dialogue for Climate Ambition (NDCA), a series of sector-specific assemblies aimed at establishing a national sustainability outlook and informing the country’s pursuit of climate neutrality.

The fourth NDCA took place under the theme ‘Roadmap to achieve net zero in the hospitality sector’.

H.E. Mariam bint Mohammed Almheiri, Minister of Climate Change and Environment, said: “We are pleased to introduce the UAE Climate-Responsible Companies Pledge.

"There’s no better place to do so than at NDCA, where we build rapport with all sectors to raise their climate ambition and turn them into active partners in our net-zero drive.

"The pledge will help us – the UAE government – engage with entities that are keen to make an active contribution to our climate neutrality movement, and align their efforts to achieve our common objective.

"I invite all companies to show that they care about their impact on our climate, and that they’re ready and willing to translate their commitment into action by signing the UAE Climate-Responsible Companies Pledge.”

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The event saw 21 companies across key sectors, such as cement, aluminum, and steel, join the pledge.

These include BEEAH, Emerson, Emirates Nature-WWF, Majid Al Futtaim Group, Standard Chartered Bank, HSBC, Masdar, Emirates Global Aluminium, Emirates Steel Arkan Group, Aldar Properties, and Emirates Environmental Group.

The other companies include; Strata, Al Yah Satellite Communications Company (Yahsat), Chalhoub Group, Pure Harvest, AESG, Taka Solutions, Lafarge Emirates Cement, EY, EV Lab, and TotalEnergies.

They have committed to stepping up their collective efforts to combat climate change by measuring and reporting their greenhouse gas (GHG) emissions in a transparent manner, and developing ambitious science-based plans to reduce their carbon footprint.

These companies will share these plans with the UAE government to contribute to achieving the national net-zero target by 2050.

Moreover, the signatories have pledged to factor in climate change mitigation and adaptation as core values and principles of their businesses and operational models, and adopt an all-inclusive approach that engages youth, women, and vulnerable segments of society.

The launch of the UAE Climate-Responsible Companies Pledge is part of MOCCAE’s initiatives focused on scaling up the UAE’s climate action in response to the call of the Glasgow Climate Pact, an outcome of COP26, for countries to seek higher GHG emission reduction targets.

The keen interest of companies to sign the pledge reflects the awareness of private sector entities of the serious threat of climate change and its adverse impacts on the environment, food security, water security, and public health.

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