The U.S.-U.A.E. Business Council hosted a luncheon discussion with Masdar CEO Mohamed Al Ramahi on 23 May 2022 in Abu Dhabi in the presence of 40 leading business executives and government officials. This event is one in a series of activities of the Business Council’s Climate Change Task Force and part of its heightened focus on climate change and sustainability over the next 18 months in advance of the U.A.E. hosting COP 28 in November 2023.
Mohamed Al Ramahi, CEO of Masdar, discussed the future of Masdar and the evolution of Masdar into a “truly global, super-charged, clean energy powerhouse.” In 2021 alone, Masdar increased the capacity of its clean energy project portfolio by 40 percent to over 15 GW. Moreover, last December, it was announced that three of the U.A.E.’s energy giants – ADNOC, TAQA, and Mubadala – would partner under the Masdar brand to form a clean energy powerhouse with a combined current, committed, and exclusive capacity of over 23 GW of renewable energy, with the expectation of reaching 100 GW and beyond.
Mr. Al Ramahi spoke about what technologies have the greatest potential in terms of meeting these overall capacity goals. He also outlined how the business community could partner in this endeavor and become engaged in Masdar’s ongoing initiatives and activities.
In a question and answer session, Mr. Al Ramahi addressed Masdar’s ever expanding hydrogen related activities, in particular green hydrogen, following the large joint investment in Masdar by ADNOC, Mubadala, and TAQA. Mr. Al Ramahi reviewed Masdar’s investments in the United States and elsewhere throughout the world, as Masdar’s renewable energy portfolio now spans over 40 countries worldwide. He also discussed the importance of the U.A.E. hosting COP 28 in 2023, and what role Masdar will play in this global forum.
Mr. Al Ramahi particularly focused on the need for close alignment between the U.S. and U.A.E. When asked what U.S. industry can do in support of Masdar’s energy transition goals, Mr. Al Ramahi discussed the ongoing efforts of the U.A.E. to reduce CO2 emissions. He noted that the U.S. has always been a “hub of innovation” when it comes to CO2 reduction, and that U.S. companies can best support climate initiatives by creating “new technologies to help the U.A.E. decarbonize.”
Business Council President Danny Sebright also elaborated on the significance of the U.A.E. hosting COP 28 in 2023. He announced that in coordination with the Office of U.A.E. Special Envoy for Climate Change H.E. Dr. Sultan Al Jaber, the Business Council will take a leading role in engaging the U.S. private sector in the leadup to COP 28. This includes working with the business community to shape the agenda for COP 28.
Mr. Sebright also highlighted GMIS America, which will take place in Pittsburgh, PA from 28-30 September 2022 and have a focus on sustainability. With representatives from GMIS leadership in the room, Mr. Sebright called upon industry to engage with GMIS in making this conference a success.
For more information on the Business Council’s programming in this important vertical, please contact Graham Reitman at email@example.com.