The United States and the United Arab Emirates signed a major new clean energy framework on November 1 in Abu Dhabi. Today President Biden again demonstrated his deep commitment to ensuring a global clean energy future and long-term energy security as the United States and United Arab Emirates announced a robust partnership to ensure the swift and smooth transition toward clean energy and away from unabated fossil fuels. The U.S.-UAE Partnership for Accelerating Clean Energy (PACE) is set to catalyze $100 billion in financing, investment, and other support and to deploy globally 100 gigawatts of clean energy by 2035 to advance the energy transition and maximize climate benefits.
PACE’s ambitious plan is built upon four pillars: 1) Clean Energy Innovation, Deployment and Supply Chains, 2) Carbon and Methane Management, 3) Nuclear Energy, and 4) Industrial and Transport Decarbonization.
The United States and the UAE will set up an expert group to identify priority projects, remove potential hurdles, and measure PACE’s progress in achieving its goal of catalyzing $100 billion in financing, investment, and other support and deploying globally 100 gigawatts of clean energy.
Investment in Clean Energy in Emerging EconomiesIn addition to investing in both countries’ clean energy futures, the two countries intend to elevate climate action by vigorously …