The International Monetary Fund (IMF) has urged the United Arab Emirates (UAE) to invest in the green transition, saying that the country could benefit from the economic opportunities presented by a low-carbon future.
In its latest Article IV assessment of the UAE, the IMF said that the country’s oil and gas sector is “under pressure” from the global energy transition. However, the IMF also noted that the UAE has “significant opportunities” to invest in renewable energy and other green industries.
The IMF said that the UAE could “benefit from a green transition by attracting new investment, creating jobs, and reducing its reliance on oil and gas exports.” The IMF also said that the UAE could “play a leading role in the global green economy.”
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