![A picture taken on January 16, 2021, shows solar panels used to generate renewable energy at the Sustainability Pavilion at the Dubai Expo 2020 in the United Arab Emirates. The US and UAE signed a major clean energy deal worth $100 billion on November 1. [Karim Sahib/AFP]](/cnmi_am/images/2022/11/03/38421-solar-panels-700_496.webp)
The United States and United Arab Emirates (UAE) reached a deal to spend $100 billion on clean energy on Tuesday (November 1), at a time when the world is in flux over energy cuts due to Russia's war in Ukraine.
The Partnership for Accelerating Clean Energy (PACE) will aim to develop low-emission energy sources to distribute 100 gigawatts of clean energy worldwide by 2035, White House spokeswoman Karine Jean-Pierre said in a statement.
The two countries will also invest in managing harmful emissions such as carbon and methane, as well as in developing nuclear technology and decarbonising industrial and transportation sectors.
Under the initiative, funds will also go toward supporting "emerging economies whose clean development is both underfunded and essential to the global climate effort", the statement said.
"PACE also reflects our unwavering commitment to working closely with allies and partners to accelerate the clean energy transition and deliver the climate action our shared future depends on."
"PACE further deepens our strategic relationship with the UAE and reflects the broader US commitment to promoting economic prosperity, security and stability in the region," the US State Department said in a statement.
Enhancing global energy security
The announcement comes days before world leaders convene in Egypt for the United Nations COP27 climate summit.
The UAE, a major oil producer, will host the COP28 in 2023.
"The energy transition needs a realistic, practical and economically viable plan to deliver climate progress together with energy security and inclusive economic growth," said Sultan Al Jaber, UAE minister of industry and advanced technology and special envoy for climate change.
The new initiative "will enable climate action while enhancing global energy security and affordability for the people of the UAE, the United States and nations around the world", he said.
At an oil conference on Monday, Al Jaber said that oil remains a cornerstone of energy supply but that the UAE was also working to lower emissions and increase production from renewable or less-polluting sources.
The UAE, a global leader in the energy transition, has invested more than $50 billion over the past 10 years in clean energy technologies and solutions around the world, building three of the largest and lowest-cost solar projects in the world.
The new deal comes at a time when Russia's invasion of Ukraine has placed tremendous pressure on global energy supplies, leading to soaring petrol prices and inflation and impacting global food security.
