AIRLINK 211.51 Increased By ▲ 1.96 (0.94%)
BOP 10.54 Increased By ▲ 0.08 (0.76%)
CNERGY 7.37 Increased By ▲ 0.02 (0.27%)
FCCL 34.55 Increased By ▲ 0.16 (0.47%)
FFL 18.18 Increased By ▲ 0.13 (0.72%)
FLYNG 23.35 Increased By ▲ 0.43 (1.88%)
HUBC 132.13 Decreased By ▼ -0.36 (-0.27%)
HUMNL 14.28 Increased By ▲ 0.14 (0.99%)
KEL 5.13 Increased By ▲ 0.10 (1.99%)
KOSM 7.20 Increased By ▲ 0.13 (1.84%)
MLCF 45.19 Decreased By ▼ -0.01 (-0.02%)
OGDC 220.74 Increased By ▲ 2.36 (1.08%)
PACE 7.75 Increased By ▲ 0.17 (2.24%)
PAEL 42.42 Increased By ▲ 0.72 (1.73%)
PIAHCLA 17.54 Increased By ▲ 0.24 (1.39%)
PIBTL 8.75 Increased By ▲ 0.20 (2.34%)
POWERPS 12.50 No Change ▼ 0.00 (0%)
PPL 191.00 Increased By ▲ 1.97 (1.04%)
PRL 42.65 Increased By ▲ 0.32 (0.76%)
PTC 25.80 Increased By ▲ 0.63 (2.5%)
SEARL 104.50 Increased By ▲ 0.54 (0.52%)
SILK 1.03 No Change ▼ 0.00 (0%)
SSGC 41.15 Increased By ▲ 1.91 (4.87%)
SYM 19.50 Increased By ▲ 0.34 (1.77%)
TELE 9.46 Increased By ▲ 0.22 (2.38%)
TPLP 13.00 Decreased By ▼ -0.10 (-0.76%)
TRG 70.51 Increased By ▲ 1.33 (1.92%)
WAVESAPP 10.76 Increased By ▲ 0.04 (0.37%)
WTL 1.72 Increased By ▲ 0.01 (0.58%)
YOUW 4.18 Increased By ▲ 0.04 (0.97%)
BR100 12,224 Increased By 144.7 (1.2%)
BR30 37,019 Increased By 416.3 (1.14%)
KSE100 117,293 Increased By 1240.5 (1.07%)
KSE30 36,991 Increased By 413.8 (1.13%)

ABU DHABI: The United Arab Emirates wants the COP28 climate conference it is hosting this year to be practical and show solidarity between the global north and south that “leaves no one behind”, the country’s oil chief and designated COP28 president said.

In a speech on Saturday to the Global Energy Forum, Sultan al-Jaber, head of state oil giant ADNOC and UAE climate envoy, called for scaling up renewables, nuclear energy, hydrogen, carbon capture, energy efficiency and new technologies, among others.

Jaber’s appointment to lead the climate summit has fuelled activists’ worries that big industry is hijacking the world’s response to the global warming crisis.

The UAE, a major OPEC oil exporter, will be the second Arab state to host the climate conference after Egypt in 2022. Campaigners and some delegates criticised COP27, saying fossil fuel producers had watered down emission reduction ambitions.

The UAE and other Gulf energy producers have called for a realistic transition in which hydrocarbons would keep a role in energy security while making commitments to decarbonisation.

UAE names ADNOC chief Jaber as COP28 climate conference president

Jaber, who is also minister of industry and technology, said the UAE had a “clear sense of responsibility and a great sense of urgency” in hosting COP28, noting the country had invested $50 billion in renewable energy and clean technology globally and plans to invest another $50 billion in years ahead.

“We need to ensure a just transition that leaves no one behind,” he said, adding that low carbon growth was the future.

He highlighted the need to triple renewable energy generation by 2030 and double low carbon hydrogen production, while transforming food and agriculture systems.

He said adaptation finance for the global south - funds to help countries adapt to climate change - should be doubled to $40 billion annually by 2025, and urged more affordable and more accessible climate finance.

Qatar’s minister of state for energy Saad al-Kaabi, speaking at a separate panel at the event in Abu Dhabi, criticised what he described as demonisation of hydrocarbons and noted that coal was being used at record levels.

“Coal is the biggest emitter by far and I see a lot of attack on oil and gas companies and demonising oil and gas companies, I don’t see a similar attack on the biggest polluter on the planet,” Kaabi said.

Comments

Comments are closed.