UAE keen to invest in India’s green energy and food sector

Sep 8, 2020

New Delhi: UAE’s Minister for Climate Change and Environment Dr. Abdullah Belhaif Al Nuiami on Tuesday praised India’s efforts for switching to green energy, saying its renewable energy journey has been truly impressive with the country pledging to generate 40% of its power from carbon-free sources by 2030 as part of its commitment to the Paris Agreement.

While mentioning UAE-India bilateral trade, which stood $ 60 billion in 2018-19, he said that there is increasing interest in investing in India in sectors such as renewable energy and food, even as more Indian companies look to invest in the UAE.

Speaking at the virtual inaugural session of the Indian Industry Body, Confederation of Indian Industry (CII ) annual flagship programme, the Sustainability Summit’s 15th edition, the UAE Minister said that Covid-19 has triggered an economic downturn on a global scale and that all recovery plans must have environmental protection as a priority because climate change remains the most important existential threat to humanity.

Dr Abdullah said that the pandemic has exposed weaknesses in the global supply chains, especially food supply, posing a risk to global food security. He added that, the UAE is developing an integrated and sustainable food safety and security system using technology. “In fact, the UAE Government is focusing on innovation and technological advancements to address environmental, societal and economic challenges,” he added.

He said that at the 13th Session of the India-UAE joint commission meeting on trade, economic and technical cooperation held virtually, sectors such as infrastructure, logistics, food parks and renewable energy were identified and the UAE is keen to further strengthen linkages, especially in energy and food security, so that India and the UAE can build a sustainable future for the two countries as well as the world.

Earlier in his remarks, Mr Sanjiv Puri, Chairman and Managing Director, ITC Limited, and Chairman, Advisory Council of CII-ITC Centre of Excellence for Sustainable Development, stated that there is a pressing need for governments, business and all sections of society to come together to address issues related to environmental degradation and social inequities to build a sustainable future for all.

Mr Chandrajit Banerjee, Director General, Confederation of Indian Industry, in his welcome note has said that there is a need to deepen the work and attention to sustainability in all economic activities to create a sustainable and resilient economy and promote inclusive growth.

UAE Ambassador to India, Dr Ahmed Albanna also attended the session.

The Sustainability Summit is the annual flagship event of the Confederation of Indian Industry in sustainability, launched in 2006 to raise the bar of dialogue, practice and performance of sustainable business.

The theme of this ‘15th Sustainability Summit is “Action Agenda for the Next Decade” is designed to focus on shaping the coming decade, incorporating learning from Covid-19 and reflecting how the drivers of innovation, technology and systems thinking can help us build a more sustainable next decade.