COP28 President Wins Award for Sustainable Energy Leadership

Dr. Sultan Al Jaber, The President of COP28 (2023 United Nations Climate Change Conference) received “CERAWeek Leadership Award for building global consensus toward a sustainable energy future” From CERAWeek by S&P Global. This prestigious award recognized his extraordinary leadership in delivering the UAE Consensus, an unprecedented agreement that outlined concrete pathways for countries and industries to transition to sustainable energy systems and keep global warming within 1.5 degrees Celsius.

The UAE Consensus: A Historic Climate Agreement

The UAE’s consensus achieved during COP28 in Dubai was a historic achievement in global climate action. It secured a number of key commitments from all participating countries, including:

  1. move away from fossil fuels: A commitment to transition away from fossil fuels in energy systems in a fair, orderly and equitable manner.
  2. renewable energy target: Time-bound target to triple global renewable energy capacity and double energy efficiency by 2030.
  3. inclusive approach: Bringing together governments, industries, civil society and other stakeholders to build consensus through the spirit of multilateralism, inclusivity and partnership.

Oil and Gas Decarbonization Charter

During COP28, Dr. Al Jaber also launched the Oil and Gas Decarbonization Charter (OGDC), which aims to decarbonize the oil and gas industry. The charter has received significant support, with 52 companies representing approximately 40% of global oil production signing it. These companies have committed to achieving net-zero emissions by or before 2050, eliminating routine flaring by 2030, and reducing methane emissions to zero by 2030.

Commercializing clean technologies and raising finance

Dr. Al Jaber stressed the need for “smart policies for the commercialization of clean technologies” and the importance of mobilizing finance to support the energy transition. He called for increased climate finance to ensure that renewable energy capacity triples by 2030 and that developing countries are not left behind.

A huge opportunity for businesses and the climate

Recognizing the scale of the energy transition challenge, Dr Al Jaber highlighted the huge socio-economic opportunities it presents for businesses and the climate. He encouraged attendees to view climate action not as a burden but as a huge opportunity for decarbonized growth by leveraging the engineering know-how, capabilities, talent, technology and resources of the energy industry.

The UAE’s consensus and Dr. Al Jaber’s leadership in concluding this historic agreement sets a clear roadmap for global climate action, bringing together diverse stakeholders and transforming the energy transition as a path to sustainable development and economic prosperity. As has been established.

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