UAE Hosts COP28 Climate Conference with ADNOC CEO Sultan al-Jaber as President
The United Arab Emirates (UAE) announced that Sultan al-Jaber, the head of state-run oil company ADNOC and the country’s Minister of Industry and Technology and Climate Envoy, will serve as president of the COP28 climate conference it is hosting this year. COP28 is the 28th annual conference of the United Nations Framework Convention on Climate Change (UNFCCC) and it will be the first global stocktake since the landmark Paris Agreement in 2015.
This announcement comes as the UAE continues to take steps towards reducing its carbon footprint and transitioning to a more sustainable energy mix. The UAE, the first country in the region to ratify the Paris Agreement, has committed to reaching net zero emissions by 2050.
Here are some key points that elaborate on the UAE’s commitment to climate action:
- The UAE has set an ambitious goal to generate 50% of its electricity from renewable energy sources by 2050 and to reduce carbon emissions by 70% by that time.
- As part of this goal, the UAE has announced plans to invest $163 billion in renewable energy projects over the next 10 years.
- In 2020, the UAE launched a national program to install solar panels on the rooftops of government buildings, with the goal of generating 2 GW of solar energy by 2030.
- The UAE also aims to increase the share of natural gas in its energy mix from 25% to 40% by 2030 and to reduce the share of oil in its energy mix from 75% to 60% by the same year.
- In January 2021, the UAE launched the Abu Dhabi Sustainable Finance Framework, which aims to mobilize $5 billion in sustainable finance by 2030 to support the country’s transition to a low-carbon economy.
Al-Jaber, as the head of the state-run oil company ADNOC and the country’s Minister of Industry and Technology and Climate Envoy, has played a key role in the country’s commitment to climate action. As the founding CEO of Abu Dhabi’s renewable energy firm Masdar, in which ADNOC has a 24% stake, Jaber has green credentials having overseen its mandate to adopt renewables in the UAE. He is also overseeing an acceleration of ADNOC’s low-carbon growth strategy approved late last year.
The UAE, a major OPEC oil exporter, will be the second Arab state to host the climate conference after Egypt hosted the United Nations Framework Convention on Climate Change’s (UNFCCC) 27th Conference of the Parties (COP 27) in 2022. Some officials had criticized the outcome of the COP27 conference, saying fossil fuel producers had benefited from sympathetic treatment from Egypt, a natural gas exporter and frequent recipient of Gulf funds. The Egyptian presidency denied any sympathetic treatment.
The UAE and other Gulf energy producers have called for a real energy transition in which hydrocarbons would continue playing a role to ensure energy security while making commitments to decarbonisation. Demands from environmental groups and scientists that governments and companies leave oil and gas in the ground have gained less traction since Russia’s invasion of Ukraine last year and Europe’s scramble for energy security.
Al-Jaber, who according to the statement, would be the first CEO to serve as COP president, said the UAE would bring “a pragmatic, realistic and solutions-oriented approach” to the conference. “We will take an inclusive approach that engages all stakeholders.” He will help develop the COP28 agenda and play a central role in intergovernmental negotiations to build consensus.
COP28 will be a significant opportunity for the UAE to showcase its commitment to climate action and to lead by example in the region. The country’s focus on a realistic and pragmatic approach to the energy transition and its willingness to engage all stakeholders will be
Prachi, an accomplished Chief-Editor at The Sustainable Brands Journal, has 15+ years of experience in Europe, the Middle East, and India, managing 90+ global sustainable brands. She’s a prolific writer in sustainability, contributing to various publications. Prachi’s unwavering passion and expertise make her a recognized authority, driving positive change and inspiring a sustainable future.
