2023-10-01 15:01:58
Sunday, October 1, 2023 – 6:59 PM
▪ The President-designate of COP28 hosts a CEO meeting in the presence of John Kerry, US Special Presidential Envoy for Climate Affairs, and representatives from the energy, cement, heavy transport, steel, aluminum, technology, finance and investment sectors, to discuss finding and developing practical solutions to achieve an orderly, responsible and just transition in the energy sector. ▪ The meeting is held one day before the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2023, and is the first of its kind that brings together representatives of the largest industrial sectors and energy producers to discuss cooperation on both the supply and demand sides. ▪ Five breakout sessions focused on practical and effective solutions to accelerate the achievement of an orderly, responsible, fair and rational transition in the energy sector. ▪ The sessions covered a range of topics that included developing hydrogen projects and technologies and commercializing it, developing carbon capture and storage technology, accelerating the reduction of methane emissions, increasing the use of renewable energy sources in electricity networks, and relying on biofuels as a basic enabler to reduce emissions.
Sultan Al Jaber: – In line with the vision of the leadership in the Emirates, the COP28 presidency is keen to enhance coordination and international cooperation to mobilize the efforts of all parties and stakeholders in the government and private sectors and reach the highest climate ambitions in conjunction with achieving sustainable economic and social growth for all.
The world is waiting and waiting for real progress to be achieved and implementable solutions found across all sectors, and the energy sectors and industries whose emissions are difficult to mitigate must play their role in this field.
Accelerating emissions reduction requires constructive cooperation between the energy sectors and emissions-intensive industries by investing in infrastructure and providing effective and tangible technological and financing solutions.
Technology and smart financing are key factors to enable the transition from setting goals to implementing them.
Abu Dhabi, 1st October / WAM / In the presence of His Highness Sheikh Hamed bin Zayed Al Nahyan, the UAE hosted a meeting of a number of prominent CEOs and leaders of economic sectors to discuss accelerating efforts to reduce emissions globally as part of the country’s preparations to host the twenty-eighth session of the Conference of the Parties to the United Nations Framework Convention. On climate change COP28 is less than two months away. His Excellency Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, President-designate of the COP28 Conference of the Parties, stressed that in line with the directives of the leadership in the UAE, the COP28 presidency is keen to enhance coordination and international cooperation to mobilize the efforts of all parties and stakeholders in the governmental and private sectors and simultaneously reach the highest climate ambitions. While achieving sustainable economic and social growth for all. This came during his speech at the activities of the Change Makers Council, which he hosted today in Abu Dhabi with the participation of a number of prominent CEOs and leaders of the oil and gas, cement, steel, aluminum, technology, finance and investment sectors, to discuss ways of cooperation and joint work to achieve tangible progress in global efforts to reduce emissions. In his speech, His Excellency explained the importance of achieving an orderly, responsible and just transition in the energy sector, and that accelerating the reduction of emissions requires cooperation and joint work across various sectors, noting that the oil and gas, cement, steel and aluminum sectors are responsible for regarding a quarter of the total global carbon emissions, and stressing the ability of these sectors. Sectors must contribute to accelerating the reduction of emissions through joint work to invest in infrastructure and provide effective technological and financing solutions. His Excellency stressed that the world is looking forward to achieving tangible progress and providing implementable solutions in all sectors, which requires the energy sector and industries whose emissions are difficult to mitigate to play the required decisive role in this field. His Excellency Dr. Sultan Al Jaber stressed that technology and smart financing are essential factors to enable the transition from setting climate goals to implementing them, and said that the CEOs participating in the meeting are capable of providing this technology, finding ways to increase hydrogen production and use on a commercial scale, and increasing the efficiency of electricity networks, Accelerating the removal of methane emissions, and increasing reliance on biofuels to reduce emissions. His Excellency concluded his speech by calling on the energy sector to play a more active role in the efforts aimed at achieving an orderly, responsible and just transition in the sector. He said that the sector had not previously participated in climate change negotiations, and it must now prove its worth and entitlement to participate in them by redoubling efforts and providing effective solutions. This meeting is a prominent gathering that includes for the first time a number of representatives of major industrial sectors and energy producers, to discuss ways of cooperation and redouble efforts to accelerate the achievement of an orderly, responsible, fair and logical transition in the energy sector across the supply and demand sides of energy. The council was attended by John Kerry, the US Special Presidential Envoy for Climate Affairs, Its activities were moderated by Dr. Daniel Yergin, Chairman of the credit rating agency Standard & Poor’s, and it was held one day before the launch of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2023, which will be held from October 2 to 5 at the Abu Dhabi National Exhibition Center under the slogan “Reducing… Emissions…faster…together.” For his part, John Kerry called on the CEOs participating in the Council’s activities to take the necessary measures to reduce methane emissions in the energy sector by the end of this crucial decade for climate action, and asked them to raise the ceiling of ambition in line with the urgent need to confront the challenge of climate change according to current global data. The Council included five sub-sessions that discussed ways to find and develop implementable solutions to achieve an orderly, responsible, fair and logical transition in the energy sector. The topics of these sessions focused on developing hydrogen projects and technologies and marketing it commercially, developing and expanding the use of carbon capture and storage technologies, and reducing methane emissions in the energy sector. Energy, increasing reliance on renewable energy sources in electricity networks, and relying on biofuels as an essential enabler to reduce emissions. Participants in the Council’s activities stressed during their discussions that hydrogen projects and technologies constitute an important opportunity to save fuel, which will contribute to enhancing the ability of the steel, cement, and aluminum industries around the world to reduce greenhouse gas emissions. They pointed out the need to enhance the production and use of hydrogen as a fuel on a large commercial scale. They also stressed the importance of enhancing carbon capture and storage technology to achieve the goals of climate neutrality and the necessity of taking the necessary steps to create applicable commercial models that lead to accelerating the adoption of this technology. During the session that discussed the topic of eliminating methane emissions, the participants explained that the oil and gas sector is responsible for 20% of methane emissions resulting from human activities, which requires taking decisive and radical measures to reduce these emissions that contribute to achieving tangible and effective progress in global climate action efforts. . The discussion also addressed the challenges that impede increased reliance on renewable energy sources in electricity networks, including lack of financing, pressure on supply chains, and the importance of strengthening the networks’ capacity, which requires the concerted efforts of everyone to take the necessary measures to address these challenges. In the context of discussing the issue of biofuels as a major enabler of reducing emissions, the CEOs participating in the event stressed the necessity of providing them as a cost-competitive alternative when used in air and land transportation, and also to ensure the stability of basic electricity supplies. During the events, Dr. Daniel Yergin stressed the importance of the discussions included, because they demonstrate the prominent and widespread contribution of the oil and gas sector to the climate action agenda, which includes deep knowledge of its topics, engineering and scientific capabilities, and the ability to provide technological solutions and means of implementation, in addition to the sector’s awareness and mastery of the requirements. Dealing with the global supply chain system, and its ability to disseminate the required technologies, especially in emerging markets. For her part, Proscovia Nabanya, CEO of the Uganda National Oil Company, said during her participation that industries whose emissions are difficult to mitigate can play a decisive role during the current era in which sustainability is essential, noting the possibility of relying on effective research, technological progress and innovation to spread solutions that contribute to Reduce emissions on a large scale while meeting customer needs. She added: “Within the framework of our meeting, we need to realize that cooperation and teamwork enhance our ability to adapt to the repercussions of climate change and accelerate the reduction of emissions. Collective efforts contribute to paving the way for building a sustainable, environmentally friendly future and confirming our ability to make a radical change and the qualitative shift required through We are determined and determined to accomplish the necessary work for this.” While Lorenzo Simonelli, Chairman and CEO of Baker Hughes, stressed that the company is committed, within the framework of its specialization in energy technology, to working on developing energy to be cleaner, safer and more efficient in order to preserve humanity and the planet. He explained that the company’s cooperation with COP28 as a supporting partner of the process reflects its commitment to addressing the repercussions of climate change, and building effective partnerships that contribute to achieving tangible progress in the efforts aimed at ensuring energy security, sustainability, and providing it at an appropriate cost, noting that “Baker Hughes” is one of the first companies in the energy technology sector that It has committed to reducing its operational emissions by 50% by 2030, and achieving climate neutrality by 2050, stressing that solutions and technologies in areas such as carbon capture and storage, hydrogen, emissions reduction and the adoption of digital technologies can play an important role in building a more sustainable future across various sectors, which Contributes to achieving global collective climate action goals. Abdel Nasser bin Kalban, CEO of Emirates Global Aluminum, said that aluminum is an essential material that can contribute to reducing emissions from the economic system as a whole, as it is used in all industries, including infrastructure, electricity distribution, mass transportation systems, and the manufacture of solar panels, pointing out Achieving the goal of reducing emissions from the aluminum production system requires cooperation and joint work with other industrial sectors, in light of common technical and commercial challenges, stressing that COP28 plays an important role in bringing together various industrial sectors to cooperate and join hands to build a better future for humanity. It is worth noting that the “Change Makers Council” comes within the framework of the COP28 action plan aimed at supporting the achievement of an orderly, responsible and just transition in the energy sector in conjunction with reducing emissions from the current energy system. As part of its action plan, the conference presidency will launch several measures during the coming weeks with the aim of supporting accelerating the transition in the energy sector.
Zakaria Mohieddin/Ahmed Al Nuaimi
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