The United Arab Emirates is considering creating one of the largest ever state-sponsored financial funds to spur clean energy projects, and the wealthy oil nation plans to unveil the fund at this year’s U.N. Climate Change Conference in Dubai. It’s a notable effort since the UAE is drawing backlash for its role as host of the global climate talks while also being one of the world's largest contributors of greenhouse gases. POLITICO’s Zack Colman breaks down the details of the fund, why it might relieve political pressure for the UAE, and the concerns from less wealthy nations. Plus, the Biden administration is scrapping its plans to reconsider a Trump-era decision not to strengthen the national standard for ground-level ozone.

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Josh Siegel is an energy reporter for POLITICO.

Zack Colman covers climate change for POLITICO.

Nirmal Mulaikal is a POLITICO audio host-producer.

Alex Keeney is a senior audio producer at POLITICO.

Gloria Gonzalez is the deputy energy editor for POLITICO.

Matt Daily is the energy editor for POLITICO.

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Inside the UAE’s vision for a state-backed climate fund