The Minister of Industry and High Technology and President-designate of the Conference of the Parties confirmed COP28Dr. Sultan bin Ahmed Al Jaber stressed the need to achieve radical progress and a quantum leap in climate action during the conference that the UAE will host next November, given the enormity and complexity of the challenges of climate change and its repercussions that threaten the entire world without exception.
This came during the International Energy Agency’s hosting in Paris yesterday of Sultan Al-Jaber in a special round-table meeting of the ambassadors of 50 countries, including the group of developing economies and the countries of the Organization for Economic Cooperation and Development, which together account for 80% of the total global emissions.
Speaking to illustrate the complexity of the challenge, he said: “The upcoming COP will witness the first global assessment of progress made in implementing the goals of the Paris Agreement, which will reveal that we are far from the right track and that we need a radical correction to reduce emissions by 43% in the next seven years to maintain The goal of avoiding the rise in the planet’s temperature exceeding 1.5 degrees C. In those same seven years, the world’s population will exceed 8.5 billion, and will reach 10 billion by the year 2050. This indicates that meeting the world’s growing energy needs, in conjunction with Significantly reducing emissions is one of the most complex challenges facing humanity, so we urgently need to make radical progress across the issues of mitigation, adaptation, climate finance, and loss and damage.”
Al-Jaber reaffirmed the priorities of the conference COPO28 On mitigation, he called on oil and gas companies to reduce their emissions, and to help other sectors do the same. He stressed the need to formulate and implement government legislation to stimulate the creation of innovative technologies capable of accelerating the transition in the energy sector. He said, “As you know, I was in Houston recently for CERA Energy Week, and there I emphasized the vital role that the energy sector must play in reducing its emissions and helping other sectors to reduce their emissions. I am confident that the energy sector has the know-how, experience and resources to help achieve the transition.” What is required in the global energy system.Achieving this goal requires an unprecedented level of commitment and cooperation.Oil and gas companies need full agreement on the goal of achieving climate neutrality.We also need to increase production from all non-emission and economically viable energy sources.We also need government regulations and legislation. It helps stimulate the market to expand carbon capture technology and enhance its efficiency, and develop the hydrogen value chain, as reducing emissions of emissions-intensive industries is not possible without the widespread use of these and other technologies.”
He stressed that: “Thanks to the vision and guidance of the leadership, the UAE is facing global challenges steadfastly and dealing with them with optimism and positivity, and is not evading the transition in the energy sector, but is moving towards it quickly. The country started this path more than two decades ago, and as a result, more than 70 percent Part of the UAE’s economy currently relies on sectors other than oil and gas,” adding: “The founding father, Sheikh Zayed bin Sultan Al Nahyan, may God rest his soul, laid the foundations for sustainability in the country, as he directed decades ago to stop flaring gas and preserve and preserve the environment. And leadership in the UAE We will continue to follow his path and vision and will follow in his footsteps to support progress in climate action.
He explained the necessity of supporting climate action simultaneously with achieving economic growth, and achieving a just and equitable transition in the energy sector that takes into account the interests of the countries of the Global South, saying: “We need to ensure a fair, logical and gradual transition in the energy sector, that allows all countries of the Global South to obtain energy at reasonable prices.” “We need a realistic, pragmatic and progressive approach that simultaneously protects the climate and supports economic growth. We must identify the needs of the world to come up with a comprehensive plan of action for the benefit of the planet and its people.”
He also stressed the need to direct more capital towards supporting the transition in the energy sector and developing the performance of international financial institutions and multilateral banks to ensure that countries most vulnerable to the repercussions of climate change are not neglected, saying: “This progress cannot be achieved without providing concessional financing at an appropriate cost, and countries must The applicant must fulfill its pledge to provide $100 billion, a pledge that is more than a decade old. We must use all means to develop the performance of international financial institutions and multilateral development banks so that we can provide concessional financing, reduce risks, and attract more investment from the private sector. .
Dr. Sultan Ahmed Al-Jaber also referred to the vital role of financing in adapting to the repercussions of climate change, and in activating the Loss and Damage Treatment Fund that was announced at the previous Conference of the Parties. COP27saying: “We need to achieve the global target on adaptation, double the funding allocated to it, ensure the protection of the most vulnerable communities from the impacts of climate change, and the preservation of biodiversity and fragile natural ecosystems. In terms of loss and damage, the decision of the Conference of the Parties COP27 It is clear, and we must build on its results by establishing and activating the Loss and Damage Treatment Fund.”
He pointed out that if the world makes the right investments, and in the right way, the opportunities for economic growth will be very great through the adoption of clean technology, explaining that taking advantage of these opportunities requires unifying the goal and coordinating efforts, and he said: “The next task is very big, and so is the available opportunity.” To set a new model for economic development, and to create new industries, jobs, and new hope.So, I call on everyone to come together and cooperate so that the next Conference of the Parties will be the conference of practical results and inclusion of all.We need the cooperation of all segments of society, from governments, the private sector, and civil society, and to ensure that they move in the same direction Because the world is advancing through partnership, not isolation.So I will use the first half of this year to meet as many stakeholders as possible around the world, and I am firmly convinced of our joint ability to achieve the most radical shift in human growth rates and prosperity since the first industrial revolution, if We worked smartly together, and we’re starting now.”
Commenting on his remarks, IEA Executive Director Fatih Birol said: “It was our pleasure to host Dr. Sultan Ahmed Al-Jaber, President-designate of the Conference of the Parties. COP28 For a frank discussion on ways to accelerate climate action. More than 50 countries from all over the world participated in the meeting, collectively responsible for 80% of global carbon emissions, and I hope they have more than 80% of the solutions. We are confident that the UAE presidency of the Conference of the Parties COP28 It represents a critical opportunity for the oil and gas sector to demonstrate its ability to play an effective and transparent role in addressing climate change. The establishment of the COP COP28 In a successful and ambitious way in Dubai, it will contribute to changing the future of energy and climate in the world for the better, changing the economic fate of many oil and gas producing countries, and laying a path away from excessive dependence on hydrocarbons towards a cleaner and safer future. The International Energy Agency will help chart this course with a special report that we will publish before COP28 On the role of oil and gas producers in the transition to climate neutrality.
