In UAE, French finance minister warns of climate action cost

By ISABEL DEBRE
Associated Press

ABU DHABI, United Arab Emirates (AP) — Just over a week after some 200 nations struck an agreement aimed at intensifying global efforts to fight climate change, the finance minister of France has warned that the cost of the energy transition will be “much higher than expected.” Bruno Le Maire was in Abu Dhabi, the oil-rich capital of the United Arab Emirates, on Sunday to discuss joint investments in a wide range of fields. Le Maire noted the challenges facing industrialized economies if they shift away from the cheap fuel pumped out of the Persian Gulf toward renewable energy sources. He touted France’s strong economic rebound from the devastation of the pandemic, fueled by mass vaccinations.