Abu Dhabi Department of Energy unveils ambitious strategic framework for the energy and water sector through 2050
Abu Dhabi – The Abu Dhabi Department of Energy (DoE) announced its comprehensive strategic framework for the energy and water sector through the year 2050.
The announcement was made during its participation in the 2025 World Utilities Congress, at ADNEC Abu Dhabi Center, with the participation of decision-makers, senior officials, and experts in energy, water, and sustainable technologies.
This announcement comes in light of the rapid economic growth witnessed by the Emirate of Abu Dhabi, with its GDP surpassing the one trillion dirham mark, reinforcing its position as one of the fastest-growing economies globally. The energy and water sector has played a vital role in supporting this exceptional growth.
On this occasion, H.E. Dr. Abdulla Humaid Al Jarwan, Chairman of the Abu Dhabi Department of Energy, stated: 'This strategic framework represents a comprehensive roadmap for the future of the energy and water sector in the Emirate. It is built upon an ambitious vision aimed at transforming the sector into a global model of efficiency, innovation, and sustainability, in line with our wise leadership's aspirations to build a diversified, net-zero economy by 2050.'
His Excellency added: 'We continue working to cement Abu Dhabi's position as a global hub for innovation in energy, powered by artificial intelligence and advanced digital solutions.'
The new strategic framework is based on four main objectives:
Ensuring secure and sustainable supply.
Achieving the highest levels of efficiency in supply and demand.
Supporting decarbonization efforts through smart and economically efficient means.
Maximizing the economic value of energy and water resources.
The framework also includes the implementation of key programs such as digital transformation, expanding investments in artificial intelligence, enhancing international partnerships, developing national talents, and regulatory reforms aimed at encouraging private sector participation and attracting international investors.
The plan aims to attract up to AED 400 billion in foreign direct investment by 2050 and increase local content in key supply chains to 65%, along with achieving 100% Emiratization of critical jobs in the sector.
This framework strengthens economic growth opportunities by attracting capital and global technologies, thereby reinforcing Abu Dhabi's position as a global hub for sustainable energy.
The Department of Energy reaffirmed its commitment to leading the development of policies, strategies, and regulatory systems for this vital sector. It also emphasized strengthening cooperation with local and international entities and empowering society to contribute to the journey toward a more prosperous and sustainable future.
In conclusion, the Department of Energy called on innovators and thinkers from around the world to join its journey toward a sustainable future, affirming that this framework is a platform for innovation and fresh thinking to address challenges and deliver solutions that contribute to the prosperity of Abu Dhabi and the UAE.
'Together, we innovate today for a more sustainable tomorrow.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
25 minutes ago
- Zawya
Dubai Future District Fund drives $1.65bln in capital commitments and powers over 190 startups
Dubai, UAE: At its Annual General Meeting, the Dubai Future District Fund (DFDF), which is anchored by Dubai International Financial Centre (DIFC) and the Dubai Future Foundation (DFF), unveiled highlights from its 2024 performance, celebrating a year of strategic growth, deepened alignment with Dubai's economic vision, and bold steps toward fostering a resilient, inclusive innovation ecosystem. The AGM also served as a platform to outline DFDF's focus for 2025, designated nationally as the Year of the Community. Reflecting on the UAE's declaration of 2024 as the Year of Sustainability, DFDF emphasised the Fund's sharpened commitment to long-term value creation, responsible innovation, and community-minded investment. Throughout the year, DFDF strengthened its partnerships with founders, investors, and stakeholders tackling real-world challenges, reinforcing the Fund's dual role as both a capital allocator and ecosystem enabler. 2024: A Year of Strategic Achievements The Board of Directors reported significant milestones across the Fund's investment mandate, including: Support for over 190 portfolio companies, through both direct investments and 12 Fund of Funds initiatives More than $1.65 billion in capital commitments raised by supported funds as of year-end 2024 Continued alignment with the Dubai Economic Agenda (D33), enhancing the Fund's role in advancing technology, talent, and venture capital in the region H is Excellency Khalfan Belhoul, DFDF Board of Directors Chairman and CEO of the Dubai Future Foundation said: 'These achievements underscore the central role that the Dubai Future District Fund plays in driving the growth of Dubai's digital economy – one that thrives on innovation and leverages the latest future technologies across key sectors.' Demonstrating Value Beyond Capital In 2024, DFDF went beyond its core investment activities to showcase how venture capital can serve as a conduit for public-private collaboration and scalable innovation. The Fund published value creation case studies in partnership with key institutions across sectors – spotlighting its growing role as a strategic enabler. This included forward-looking engagements with Dubai Land Department and Dubai Health, exploring innovation partnerships that align government priorities with startup-driven solutions. DFDF also piloted projects with Nestlé and AWS, aimed at identifying opportunities around technology adoption, and business enablement. These initiatives reflect DFDF's broader commitment to translating capital into impact – fostering not only financial returns, but also operational value, strategic insights, and innovation capacity across the region's future economy stakeholders. Looking Ahead to 2025 With the UAE's announcement of 2025 as the Year of the Community, DFDF outlined a renewed commitment to building stronger bridges across the innovation landscape – between founders and funders, startups and regulators, and the region and global markets. 'Innovation thrives not in isolation, but within inclusive, connected communities,' said Arif Amiri, DFDF Board Member and Chief Executive Officer of DIFC Authority. 'As the Fund continues to position Dubai as a global pioneer for innovation, we are more committed than ever to cultivating collaboration with partners globally who are also committed to driving future economic growth.' DFDF's key focus areas for 2025 include expanded capital deployment, prioritising funds and co-investments that support ecosystem building and economic resilience, and deeper ecosystem engagement, with platforms that bring together top founders, investors, operators, and policymakers to foster shared growth. Nader Albastaki, Managing Director at DFDF said: "2024 marked a pivotal year for DFDF, where purpose met performance. We scaled our investments, aligned with Dubai's strategies, and supported innovators driving meaningful change. As we enter 2025 the Year of the Community we're excited to focus on deeper collaboration, ecosystem resilience, and a shared vision of Dubai as a global capital of innovation and opportunity." About Dubai Future District Fund (DFDF) The Dubai Future District Fund is a venture capital fund anchored by the Dubai International Financial Centre (DIFC) and the Dubai Future Foundation (DFF). The Fund invests in startups and VC funds building the future economy of Dubai and the broader MENA region. DFDF plays a dual role as both a Fund of Funds and a direct investor, with a core focus on innovation, sustainability, and long-term impact.
Khaleej Times
25 minutes ago
- Khaleej Times
Credit card spending: Is your plastic really that fantastic?
Every day we pull out a piece of plastic and pay for food, drinks and shopping without even thinking twice about it. Nowadays, it's more likely that we pull out a phone or use our smart watch to pay – but they are still linked to our credit card. And a surprising number of people don't fully understand how interest on their credit card is charged and the associated fees. Here are some of the basic details you need to know. Interest rates Do you know how much interest your credit card company charges you? Monthly interest rates on credit cards in the UAE typically range from two per cent to four per cent, translating to annual rates of between 24 per cent and 48 per cent. That's pretty high when you consider the top rate of interest you'd earn on a UAE savings account is about five per cent. One misconception is when you actually pay interest on your card. In an ideal world, you will pay off your balance in full each month. That way, you avoid paying any interest. But we are not all so financially disciplined. Sometimes, you can't pay the full amount and instead end up paying half of it or just the minimum balance. That's often when the confusion begins as some people think if they pay the minimum amount due, then they won't be charged interest. Sadly, that's not the case. Grace periods A grace period is the time between your statement date and the due date of your payment, which is normally about 21 to 25 days. It does vary among credit card issuers. This grace period applies as long as you pay your full statement balance on time. But if you don't pay the full amount you are charged interest, which is often backdated to the date of the original purchase. Cash advances It's hard to think of a scenario where taking a cash advance on your credit card is a good idea. You will be charged interest the second you take the cash as grace periods don't apply to cash advances. Plus, you are usually charged a higher interest rate than for normal spending on the card. On top of that, you will pay a fee for the cash advance. Instead, consider a small personal loan or overdraft with lower rates. However, some banks are improving their offerings for those who really need the cash – Wio bank lets you borrow from your credit limit with Easy Cash, and charges one dirham per day for every Dh1,000 borrowed. Checking statements Be honest, how often do you look at your credit card statement in detail? Most people dread it coming and quickly move onto something else. But it could pay to go through it properly. Sometimes, transactions get added by mistake or the card has been used fraudulently. Look at what you paid for and make sure you recognise all the merchants. You can also see any penalties and fees you may have incurred, which should encourage you to manage the card better. The wrong card There are hundreds of credit cards out there, all offering different perks. How do you know you are using the right one? Research by comparison site Daleel found that only half of the people they surveyed are confident they have the right credit card for them. A look at Emirates NBD 's website will show you all sorts of card partners including Emirates, Etihad, Dnata, Noon, Lulu, Emaar, Marriott Bonvoy and one called Webshopper. They all offer cashback, air miles or discounts. To choose the right card, you have to match your spending habits with cards that reward those categories. For example, some cards reward certain types of purchases like online shopping, so make sure you only take out this card if you actually do a lot of your shopping online. The same is true for the airlines' cards. Foreign transaction fees Some cards may say they are ideal for travel but then charge you 2-3 per cent per transaction abroad. Look for cards that say 'no FX fees' or 'zero per cent foreign transaction fees' if you travel often. But even if they don't charge a fee, you may not always get the best currency conversion rates. When you get the option, always pay in the local currency as the bank will use the more competitive conversion rates used by Visa and Mastercard. Promotions We all love a good promotion or discount. For credit cards, it could be 'No Annual Fee'. But this might only be for the first year, and then a huge fee kicks in after 12 months. Zero per cent interest deals are always worth double checking. Are they really not charging any interest? Once the introductory offer ends you may then be charged interest if you don't pay off the full balance. T&Cs It would be unrealistic to advise people to read all the literature that comes with a credit card – the small print. But you should get a Key Facts or an 'At a Glance' summary from your bank, while others are turning to videos and other formats to clearly explain the terms and conditions. The more time you can spend reading them, the more informed a decision you can make. For example, while researching this article I browsed a lot of credit cards and landed on the RAKBank World credit card which offers up to 10 per cent on a variety of spending which sounds very generous. But after digging around, I saw that to start earning cashback you need to spend a minimum of Dh10,000 per month on your World Credit Card. That amount might not suit everybody so this is when reading as much of the small print as possible really helps.
Khaleej Times
25 minutes ago
- Khaleej Times
UAE: Have you calculated where all your money goes every month?
Have you ever reached the end of the month only to find your bank balance mysteriously lower than expected? You're not alone. Whether you're a new graduate starting your career or a parent juggling school fees and groceries, the question is the same: Where does all my money go every month? It all boils down to tracking your spending and coming up with a budget for how much you will spend each month and on what. But let's start with one big myth – budgeting isn't about restricting yourself. It's about having better awareness and control over your money. Know your numbers The first step in mastering your money is understanding your income and expenses. Start by writing down all your sources of income: your salary, freelance gigs, passive income or side hustles. Next, track your spending. For at least a month, record every dirham you spend - on rent, groceries, utility bills, transport, takeaways and subscriptions. This is where technology can be your friend as there are now many apps that help track your spending such as Spendy, Wally, Buddy and Yabi. They may have silly names but they can really save you time – and hopefully money. Yabi is a homegrown financial app that uses AI to not only track your spending buy then give you some actionable insights to budget better. Many UAE banks also have their own budgeting tools you can use for free. For example, Liv digital bank, part of Emirates NBD, has a budget planner to see how you can change your spending patterns. Using these tools can be very eye-opening. You may discover you're spending more on food deliveries like Careem, Uber Eats and Deliveroo than you thought. And you might unearth those unused online subscriptions that are draining your wallet. But knowledge is power as they say – once you know you can then take action. Rakhil Fernando, the CEO of Yabi, which targets individuals between 25 and 35 years old, said: 'We want to reach users before they develop poor financial habits, so they avoid common pitfalls like lack of savings or overspending.' In Dubai especially, given its glamorous and fun image, many workers are dining out frequently, going to clubs and bars while others are frequently buying designer labels and the latest electronic gadgets. Categorise your expenses Personal finance experts recommend you break your spending down into three main categories. First you have your essentials like rent, utilities, groceries, transport costs and school fees. Around 50% of your income should be allocated to these. In high-cost cities like Dubai or Abu Dhabi, rent may take up more than 50% - that's okay. The idea is to put it all down first and then adjust accordingly. Next you have your lifestyle spending – dining out, clothes shopping and entertainment. This should be around 30%. This may be a challenge living in a city with non-stop nightlife, fancy restaurants and fast food delivery apps. Then you have your financial goals – what are you saving towards and how much are you putting aside each month? You could be paying off debts instead. Record how much you are setting aside in savings and investments, which should be about 20% of your income. Set SMART goals Financial goals deserve their own section as ultimately you want to budget better in order to save money for the things you want – that dream holiday, a new car, your kid's education. Goals give your budget a purpose. Start with short-term goals, like saving 5,000 dirhams for a staycation, clearing a credit card, or building a 3-month emergency fund. Then look at long-term goals – such as a deposit on a house or that new SUV. SMART stands for Specific, Measurable, Achievable, Relevant, and Time-bound. So instead of vaguely saying 'I want to save more' you will write down 'I'll save AED 500 a month to build an AED 6,000 emergency fund by next summer.' Be realistic Most budgets fail, much like diets, because they are too restrictive. It's hard to suddenly stop going out for meals when these are part of your normal routine. Instead, you can set limits on how much you will spend on specific things like lunches out, taxis etc. This is where the budgeting apps come in very handy. ADCB Hayyak, and Mashreq Neo are two banks that offer budgeting features that let you set limits and get alerts when you're near them. Review Budgeting isn't a one-off activity. It's something that you should be doing regularly, ideally at the end of each month. It doesn't need to be hard work and can actually be fun – if you save more than expected at the end of the month then treat yourself to a small indulgence. And gamify it - set targets for you and your partner to beat and compete with one another. Also, don't be too hard on yourself. We all have lapses and make mistakes. Just quickly get back on track afterwards. Make it work in the UAE Living in the UAE brings unique financial opportunities — and pressures. Many residents enjoy tax-free income, but also face high living costs, social expectations, and the temptation to spend big. Salaries can be generous, but it's easy to fall into the lifestyle inflation trap — the more you earn, the more you spend. Don't be one of them.
