Abu Dhabi: Government-owned foreign aid agency, the Abu Dhabi Fund for Development (ADFD) is uniting with the world to mark World Environment Day, celebrated on the 5th of June every year.
Held under the theme “’We have Only One Land”, the celebrations this year strive to unite global efforts to preserve the environment and sustain its limited land resources.
On the occasion, the Fund has shed light to the leading role played by the UAE in preserving the environment and addressing negative impacts of climate change by launching various initiatives locally.
Through the Green Development Strategy, the UAE aims to promote long-term growth by focusing on the green economy and maintaining a sustainable environment, as well as preserve natural resources for future generations. The Fund has contributed to these efforts through the implementation of global best practices in cooperation with partners and international organizations.
The World is preparing itself for the 28th session of the Conference of the Parties (COP 28) to the United Nations Framework Convention on Climate Change (UNFCCC), all held in the UAE, further demonstrating the significance of the Emirates’ investments in quality clean energy projects, its quest for effective solutions to tackle climate challenges and engagement in innovative climate action that helps stimulate the economy and build a more sustainable future.
PROJECTS FOR SUSTAINABILITY
ADFD-backed projects over the last 50 years have supported sustainable development goals aimed at alleviating poverty, protecting the planet and ensuring peace and prosperity for all by 2030.
The Fund has made considerable efforts to achieve SDG 13, which pushes for urgent action to address adverse impacts of climate change and reduce carbon emissions. ADFD joined the global initiative to save the environment by launching and financing strategic projects around the world, which also supported socioeconomic development in partner countries.
Since its first set of funding in 1974, ADFD has financed 73 renewable energy projects to date at a total cost of around $1.09 billion, (AED4 billion). 52 nations across the globe have benefited from these projects which have helped them to the growing demand for energy.
The Abu Dhabi Fund has established strategic partnerships with various national counterparts, global organizations and development funds to support renewable energy projects. Joint efforts have contributed to the application of the best innovative technologies, development of sustainable solutions and reduction of climate challenges faced by developing countries.
ADFD’s important international initiatives that have contributed to promoting renewable energy projects implemented in collaboration with the International Renewable Energy Agency (IRENA) , the UAE-Caribbean Renewable Energy Fund (UAE-CREF), and the UAE-Pacific Partnership Fund (UAE-PPF).
Offering prominence to the agriculture and irrigation sector, ADFD has contributed to SDG 15 that intends to protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification and halt and reverse land degradation and biodiversity loss.
ADFD financed 59 projects in the agriculture and irrigation sector, which together amounted to around $1.63 billion (AED6 billion). 22 countries across continents have benefited from these projects involving reclamation and development of vast swathes of agricultural land, preservation of biodiversity and achievement of food security, sustainable economy and social development.