Abu Dhabi is a hot spot for capital ideas

In changing times, it pays to be prepared. While much of the world has been gripped by the high-octane drama of the US presidential election , two important gatherings in Abu Dhabi have shown how the Emirates is readying itself for the future. The capital hosted the UAE’s Annual Government Meetings – a three-day retreat for national leaders as well as hundreds of federal and local officials. Officials spent hours reviewing the country’s various national strategies and worked on ideas for growth and development, such as a new strategy to double cumulative foreign direct investment to Dh1.3 trillion ($354 billion) by 2031. Several other issues on the agenda are vital – artificial intelligence , national identity and the family are just three examples. Indeed, President Sheikh Mohamed , who attended on Wednesday took part a session on building Emirati families. There he described building Emirati families and fostering conditions for their growth as a shared national responsibility. An important addition to the meetings' agenda this year is what Mohammed Al Gergawi, Minister of Cabinet Affairs, described as a “focus on empowering young national government leaders”. When it comes to drawing up national plans and implementing them effectively, continuity is important. Therefore, developing the next generation of thought leaders is vital. On Monday, the first day of the Government Meetings, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, was joined by other senior UAE leaders at the graduation ceremony of the first cohort of young Emiratis to take part in the country’s Nafis Leadership Programme . Although this was created to help prepare young Emirati talent by developing their professional skills in line with the National Employment Strategy 2031, such experience adds to the country’s knowledge pool and will inform future UAE policy in an unpredictable world. On the other side of town, another gathering was taking place that also wrestled with important issues that will affect this generation and the next. Adipec, the world’s biggest energy event, heard from Russell Hardy, chief executive of major energy trader Vitol, who told attendees that global oil demand may peak within the next 10 years, driven by increased consumption in developing nations that will offset declines in advanced economies. The caveat here is that, as Mr Hardy made clear, similar claims were made five years ago. As we have just seen in America, predictions can be a tricky business. The International Energy Agency forecasts that global oil demand could peak around 2030, with a gradual decline thereafter. Goldman Sachs estimates that oil demand may peak around 2034, followed by a plateau rather than a sharp decline. But all the above scenarios highlight the importance of a managed transition to renewable forms of energy and transport, not drastic measures that would leave developing nations short of energy. Given the clear effects of global warming – the floods seen recently in Spain are a grim reminder of our changing climate – this transition must be one that aligns with the kind of targets outlined at Cop28 in Dubai last year and that will be enhanced when Cop29 begins in Baku next week. The opportunities and challenges of the 21st century are complex – and the answers to them must be informed and nuanced. For Abu Dhabi to host simultaneous governance and energy policy meetings shows that the capital is a hot spot for bringing together ministers, energy experts, influential private sector figures and the next generation of local leadership talent. This knowledge bank will be essential for the changing times that lie ahead.