Yoon: "Cooperation with UAE on Carbon Neutrality... Economic Opportunities Will Increase"

Attended 'Abu Dhabi Sustainability Week' and Mentioned 'Restoration of Korea's Nuclear Power Ecosystem'

[Abu Dhabi=Asia Economy Reporter Baek Kyunghwan] President Yoon Suk-yeol stated on the 16th (local time) that "If the special strategic partnership between Korea and the United Arab Emirates (UAE) expands to the field of carbon neutrality, economic cooperation opportunities will also increase." President Yoon also shared the domestic situation where efforts are being made to restore the nuclear power ecosystem to realize '2050 Carbon Neutrality.'

During his state visit to the UAE, President Yoon attended the opening ceremony of the 'Abu Dhabi Sustainability Week' held at the Abu Dhabi National Exhibition Centre (ADNEC) on the morning of the same day, saying, "The world is paying attention to the UAE's bold steps preparing for the post-oil era and moving toward carbon neutrality."

President Yoon Suk-yeol, on a state visit to the United Arab Emirates (UAE), is delivering a keynote speech at the opening ceremony of the Abu Dhabi Sustainability Week held at the Abu Dhabi National Exhibition Centre (ADNEC) on the 16th (local time).
[Photo by Yonhap News]

President Yoon explained that the UAE declared carbon neutrality in 2021, the first in the Middle East, and is building 'Masdar,' the world's first zero-carbon city in Abu Dhabi. He added, "Korea is also rapidly restoring the nuclear power ecosystem, a zero-carbon power source, to realize '2050 Carbon Neutrality,' and is expanding the supply of clean energy such as renewable energy and hydrogen."

He also revealed plans to establish the 'National Carbon Neutral Green Growth Basic Plan' this year. This plan reflects sectoral and annual greenhouse gas reduction pathways, indicating a more systematic commitment to the international community's carbon neutrality promises.

He emphasized cooperation with the UAE as well. President Yoon judged, "If cooperation in clean energy such as renewable energy, hydrogen, and Carbon Capture, Utilization, and Storage (CCUS) is added to the nuclear power cooperation, a symbol of friendship between the two countries, it will contribute not only to strengthening energy security of both countries but also to enhancing the stability of the global energy market." He further explained, "Smart city construction can also increase synergy effects through cooperation between the two countries," adding, "Together, the two countries can realize the future of sustainable cities around the world."

Regarding the 28th United Nations Climate Change Conference of the Parties (COP28) to be held in the UAE this year, he evaluated, "This year's conference will conduct the first global implementation review to assess progress in implementing the Paris Agreement," and "It is a meeting to concretize the establishment of a fund to support losses and damages of developing countries due to the climate crisis."

Additionally, he mentioned plans to advance international discussions on climate change adaptation through the UNFCCC Adaptation Week to be held in Incheon this August. President Yoon added, "We will practically contribute to reducing the gap in climate change response capabilities between developed and developing countries by expanding green Official Development Assistance (ODA)."