Company also signs Abu Dhabi Mangrove Initiative Pledge, launched by the Environment Agency – Abu Dhabi to support a range of mangrove and blue carbon conservation initiatives.
Abu Dhabi – 3 October, 2023: Mubadala Energy, the Abu Dhabi-based international energy company, has announced a major commitment to enhancing the role of nature – based solutions by planting 100,000 mangroves a year until 2030. The company is one of the first to join forces with the Environment Agency -Abu Dhabi (EAD) and its Abu Dhabi Mangrove Initiative to accelerate conservation and research efforts around mangroves, supporting the UAE’s net zero goals and the Mangrove Alliance for Climate (MAC).
The ADMI Partner’s Pledge signed by Mubadala Energy establishes a framework to help conserve and restore mangroves and other blue carbon ecosystems in the UAE and globally. It aims to recognize the huge impact of nature-based solutions that these ecosystems provide, while helping accelerate their conservation and restoration through science-backed research and innovation.
Mubadala Energy has a track record of supporting coastal conservation in the UAE and Indonesia through restoration and research efforts. However, this important scaling up of the company’s activities will have a material impact in contributing to the UAE’s commitment to plant 100 million mangroves by 2030.
Commenting on the announcement, Mansoor Mohamed Al Hamed, Mubadala Energy CEO, said: “From day one we have been committed to being a responsible business and ensuring that sustainability guides our actions. In the UAE’s Year of Sustainability, and with the Emirates hosting the critical dialogues on climate as part of COP28 later this year, we are pleased to expand our efforts on mangrove restoration in support of the UAE’s 2030 mangrove targets and wider net-zero commitments.”
Her Excellency Dr. Shaikha Salem Al Dhaheri, Secretary General of EAD, commented: “We are delighted with Mubadala Energy’s pledge in support of the Abu Dhabi Mangrove Initiative and which in line with Abu Dhabi Climate Change Strategy we issued in last July 2023 and with their commitment to science-based mangrove restoration. This represents another important milestone in our ongoing journey to leverage nature in reducing atmospheric carbon dioxide and limiting the effects of global climate change. Abu Dhabi is one of the pioneers in the field of mangrove restoration with mangrove habitats in the Emirate having increased by 92% over the past 30 years; an incredible achievement that is sure to provide significant benefits for nature, people and climate.
Mubadala Energy has set out a clear strategy to pursue new energy sectors and low carbon solutions in support of the energy transition while also driving decarbonization across its operations. This latest commitment follows recent agreements with Masdar, Pertamina and PARCO to explore collaboration on decarbonization and energy transition, Carbon Capture Utilization and Storage (CCUS) and the circular economy, respectively.
With mangroves storing more carbon per unit area than any other ecosystem on earth, they are well recognized as a vital component of nature-based carbon sequestration. In addition, they play an important role in supporting coastal communities and creating vibrant natural ecosystems. For instance, it is estimated that, globally, mangroves prevent $65 billion in damage to property and reduce flood risks for around 15 million people a year by protecting against coastal erosion and providing a natural flood defence. In addition, roughly 80% of the global fish catch is in some way dependent on mangroves, making them vital to sustaining marine food chains.