UAE announces initiative to boost AI and blockchain in green finance

The UAE has announced a new initiative aimed at developing technology solutions such as artificial intelligence and blockchain to scale the use of green finance and combat climate change. A cumulative sum of $150 trillion of investments in renewable energy solutions is required to keep global warming to below 1.5°C above pre-industrial levels by 2050, according to the International Renewable Energy Agency's World Energy Transitions Outlook.
Although global investment across all energy transition technologies reached a record high of $1.3 trillion in 2022, annual investment must more than quadruple to remain on the 1.5°C pathway, said the intergovernmental organisation.
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