DUBAI // Time is running out for oil companies to shift their focus towards renewables, the director-general of the Opec Fund for International Development said on Wednesday.
Speaking at a seminar at the International Centre for Biosaline Agriculture (Icba), Suleiman Al Herbish said building solar panels and avoiding gas flares were some of the ways they could help minimise energy use.
“We are trying to convince oil companies like Exxon Mobil, BP, Adnoc and Saudi Aramco, that time is running out,” he said. “We are talking about the environment and climate change and we are trying to help.”
Some companies, such as Total and Shell, were already on board. “We are telling them to come with us on this energy access platform, which we are hopefully going to sign next year, to exchange information and work in their host countries,” Mr Al Herbish said.
“They [can] help them [avoid] flaring gas, provide them with cooking stoves and build solar panels. It is part of their corporate social responsibility and the key to sustainable development.”
The UAE, which is a member of the organisation, is investing heavily in renewable energy.
“The UAE is pioneering with the International Renewable Energy Agency in Abu Dhabi,” he said. “They are ahead of many countries in renewables and investing in conventional oil and gas. I am always impressed by their representation.”
He is meeting with the Minister of State for Financial Affairs, Obaid Al Tayer, on Thursday to discuss the organisation’s projects.
“The UAE is giving it that significance and importance,” Mr Al Herbish said.
“They are putting investments in this and this is what we call forward-thinking.”
The UAE pledged to generate 24 per cent of its electricity from clean energy sources by 2021.
“The interlinkages between energy, water and food can only strengthen in the future, with population growth and urbanisation creating increased demand for these three key resources,” Mr Al Herbish said.
“By 2050, the demand for energy will nearly double globally, with water and food requirements estimated to increase by more than 50 per cent. The challenge is further compounded by climate change impact.” Agriculture will also play a role in building a sustainable future. “We know agriculture is the largest consumer of freshwater and in the food system, 40 per cent of energy is consumed,” said Dr Pirro Tomaso Perri, regional programme and planning officer at the Food and Agriculture Organisation (FAO) in Abu Dhabi.
“So the energy-water-food nexus is very much of essence as, by 2050, we are expecting to be nine billion and, for that, we need to increase food production by 60 per cent.”
He said understanding how to cut water use in agriculture would allow food security to prosper, even in Gulf countries where there are limitations.
Dr Ismahane Elouafi, Icba’s director general, said: “We do not have as many resources like water yet we have to feed more people which is why this nexus is important because they are all interdependent.”
cmalek@thenational.e
