Mariam Al Mheiri, Minister of Climate Change and Environment, promised that the day the UAE uses its last barrel of oil must be a "cause for celebration rather than a crisis", as the nation builds towards a more sustainable future.
Ms Al Mheiri delivered the strong message during an address at the International Government Communication Forum in Sharjah on Wednesday.
She underlined the UAE's drive to triple its renewable energy contributions by 2030 – and double this number again in the following decade.
"The wisdom of our leadership lies in their recognition that oil is a finite resource and, as such, they steer the nation towards a sustainable future," she said.
"This transformation aims to ensure that the last barrel of oil becomes a cause for celebration rather than a crisis."
The minister's remarks echo a similar pledge made by President Sheikh Mohamed in 2015, in his previous capacity as Crown Prince of Abu Dhabi, to emphasise the country's commitment to diversifying its economy.
“In 50 years, when we might have the last barrel of oil, the question is: when it is shipped abroad, will we be sad?” Sheikh Mohamed asked during that year's World Government Summit in Dubai.
“If we are investing today in the right sectors, I can tell you we will celebrate at that moment.”
UAE prepared for post-oil era
More than eight years later, Ms Al Mheiri said the UAE remains on track as it prepares to host the Cop28 climate change summit in November.
What sets the UAE's sustainability experience apart, according to Ms Al Mheiri, is its practicality in identifying challenges and devising solutions to address them.
"Sustainability stands as one of the nation's foremost strategic priorities, both today and in the future," she said.
"Some may observe that the UAE is indeed blessed with abundant oil reserves, but the question arises: Do we rely solely on oil or envision a future where its use is limited to ensuring power supply?
"The unequivocal answer is no."
Ms Al Mheiri pointed to a number of the UAE's projects as examples of how the nation was committed to the sustainable path.
"The UAE has ambitious plans to significantly increase its reliance on renewable energy sources," she said.
"By 2030, the goal is to triple the contribution of renewables, and by 2040, this contribution will increase sixfold, alongside a greater emphasis on hydrogen utilisation.
"Additionally, the UAE is on track to fully operate the Barakah Nuclear Energy Plants, a pioneering initiative in the Arab world."
Signing up to the Paris Climate Agreement was another indication of the UAE's commitment to sustainability, she added.
"The UAE's objective includes safeguarding planet Earth against the repercussions of severe climate alterations," Ms Al Mheiri said.
"To attain this objective, the UAE has recently elevated its pledge to cut emissions by 40 per cent compared to the usual scenario of global efforts by 2030."
Only last week the UAE pledged $4.5 billion in support of clean energy projects at the Africa Climate Summit.
Ms Al Mheiri referenced that pledge in her speech on Wednesday.
Making a difference
"Just a few days ago, at the African Climate Summit in Nairobi, the UAE made a significant announcement," she said.
"They pledged a financing initiative amounting to $4.5 billion, aimed at bolstering Africa's capabilities in the realm of clean energy.
"Africa, a continent that bears the brunt of climate change's severe impacts, is responsible for only 2 per cent to 3 per cent of the global carbon emissions resulting from energy and industrial activities."
Global food security was another sector the UAE was working to improve, she added.
"The UAE is actively working towards global food security to combat the pervasive issue of hunger, which afflicted an astonishing 783 million people worldwide last year following Covid," Ms Al Mheiri said.
Another speaker at Wednesday's conference was equally vocal about the need to tackle food security issues.
"Food is a basic need of all beings, not just humans, it's the currency of life," said environmental activist and food sovereignty expert Vandana Shiva.
"One of the biggest tragedies facing us now is half of the hungry people in the world are food producers themselves who can't grow enough to feed themselves.
"They're growing commodities at high cost and earning nothing."
Four reasons global stock markets are falling right now
There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest:
1. Rising US interest rates
The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year.
Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. “With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs.”
At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end.
2. Stronger dollar
High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. “Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets.”
3. Global trade war
Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trump’s spat with China will escalate into a full-blown global trade war, with both sides suffering. “The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock picker’s market.”
4. Eurozone uncertainty
Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy.
Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line.”
The European economy may also be slowing, Mr Beauchamp warns. “A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.”
Temple numbers
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Height: 24 meters
Ground floor banquet hall: 370 square metres to accommodate about 750 people
Ground floor multipurpose hall: 92 square metres for up to 200 people
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First floor terrace areas: 2,30 square metres
Temple will be spread over 6,900 square metres
Structure includes two basements, ground and first floor
Vidaamuyarchi
Director: Magizh Thirumeni
Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra
Rating: 4/5
Results
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Why are asylum seekers being housed in hotels?
The number of asylum applications in the UK has reached a new record high, driven by those illegally entering the country in small boats crossing the English Channel.
A total of 111,084 people applied for asylum in the UK in the year to June 2025, the highest number for any 12-month period since current records began in 2001.
Asylum seekers and their families can be housed in temporary accommodation while their claim is assessed.
The Home Office provides the accommodation, meaning asylum seekers cannot choose where they live.
When there is not enough housing, the Home Office can move people to hotels or large sites like former military bases.
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Farage on Muslim Brotherhood
Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister.
"We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know.
“All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.”
It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins.
Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement.
The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.
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