UAE: ‘Risk greater’ every year Net Zero is delayed, industry experts say

Quoting UN General Secretary Antonio Guterres, he warned that the world is “on the highway to climate hell with our foot still on the accelerator.”

Eugene Mayne, Founder and CEO, Tristar Group, during the Keynote address at the Journey to Net Zero – UAE 2025. KT Photo: Shihab

Achieving net zero by 2050 is the new economic model and every year’s delay makes the road more challenging, industry executives said on Wednesday.

“Net Zero is not just a climate target, it is the new economic model. It’s about redesigning our industries, energy systems, and consumption patterns to align with the limits of the planet. Achieving net zero means nothing less than orchestrating a global transformation in how we power our economies, move people and goods, build cities and promote growth,” said Eugene Mayne, founder and CEO of Tristar Group, during the . Journey to Net Zero – UAE 2025 conference.

Organised by the UAE’s first English daily Khaleej Times, the conference is a premier climate action gathering, attending by senior public and private officials across various walks of life. The fourth edition conference provided insights into various aspects of regulatory framework, green financing and ESG compliance.

Ted Kemp, Chief Content Officer at Khaleej Times, delivered the opening address at the conference.

Net Zero by 2050 is a global initiative to achieve net-zero emissions by 2050 under the Paris Agreement, which calls on countries to prepare long-term strategies to reduce greenhouse gas (GHG) emissions and limit the rise in global temperature to 1.5ºC compared to pre-industrial levels.

‘We owe to generations to come’

“Science tells us we must cut emissions in half by 2030 and reach net zero by 2050. Every year of delay makes the roads steeper and the risk greater. Governments can set the frameworks, but the business must power the transformation. The private sector controls the capital flows, technology pipelines and the supply chains that will determine whether we succeed. This transition is not about sacrifice. It’s about opportunity,” Mayne said during the opening keynote address at the conference.

“Net Zero is a promise that we owe to generations to come. We are here because global warming is no longer tomorrow’s problem. It’s today’s living reality. Record heat waves, unprecedented floods, wildfires, and rising seas are the unmistakable signature signs of a planet under stress,” said the founder and CEO of Tristar Group.

Quoting UN General Secretary Antonio Guterres, he warned that the world is “on the highway to climate hell with our foot still on the accelerator.”

He also warned that clean energy is now the cheapest source of new power in most parts of the world. “Electric mobility is surging. Green hydrogen sustainable fuels and carbon capture are moving from promise to practice. At the same time, investors, customers, and employees are all demanding greater climate responsibility. The companies that move first will not just survive the transition, they will define the markets of the future,” added Mayne.

He opined that human ingenuity and collaboration can chart a different course.

“We are not here to despair. We must remind ourselves, as the old saying goes, we do not inherit the earth from our ancestors, but we borrow it from our children. The responsibility is immense, but so is also the opportunity,” he added.

Can’t achieve in isolation

Mayne stressed that no single player can achieve net zero in isolation. “This is a systemic challenge, and it demands systemic collaboration. Governments must provide clear policy signals, industry must innovate, financial Institutions must mobilise capital at scale, and civil society must hold us accountable. Partnerships such as the UN Global Compact, the first movers coalition, and regional climate alliances are proof that when sectors come together, real progress happens. What we need now is to multiply these partnerships, accelerate the pace, and expand the scope across borders and industries as we advance,” said Mayne.

He emphasised that transitioning to Net Zero must be fair and must be inclusive. “We must ensure that workers in carbon-intensive industries are re-skilled, that developing nations have access to technology and finance and that the benefits of a green economy are shared by all. A net-zero world that leaves millions behind is not a sustainable world today,” said Mayne.

While delivering the welcome address, Ted Kemp said the conference is happening at a defining moment when sustainability has moved beyond aspiration into expectation.

“Net Zero is no longer a conversation for tomorrow. It is the responsibility of today. Every choice we make, from how we move goods and build cities to how we conserve water and invest in energy, shapes the future of generations to come,” he said.