Sheikh Mohammed bin Rashid Al Maktoum, vice-president and Prime Minister of the UAE and ruler of Dubai, unveiled the UAE Energy Plan 2050, which aims to increase clean energy usage by 50% and improve energy efficiency by 40%. Moves to boost the use of renewable sources, nuclear power and clean fossil fuels in power generation will be funded by a federal government investment of AED600bn (USD163.4bn) over the next 33 years, equating to an annual spend of more than AED17bn (USD4.6bn). This is expected to translate to a 70% reduction in carbon dioxide emissions and savings worth AED700bn (USD190.6bn). More than 90% of the UAE’s energy demands are currently met by natural gas. Under the UAE Energy Plan 2050 the contribution of gas will be reduced to 38%, while that of clean fossil fuels, nuclear and renewable energy will be raised to 12%, 6% and 44%, respectively, by 2050. (Bloomberg)