Abu Dhabi, 3 October 2023 (TDI): The President of COP28 Sultan al-Jaber is spearheading efforts to unite over 20 oil and gas companies in the fight against carbon emissions as the United Nations (UN) climate change summit approaches.
Al-Jaber, also the head of the United Arab Emirates (UAE) oil company ADNOC, has called upon the energy industry to take an active role in addressing climate change.
Despite initial controversy due to his OPEC membership and oil-exporting country status, he is leading COP28, set to begin next month.
During an oil and gas conference in Abu Dhabi, al-Jaber emphasized the need for a comprehensive transformation of economies that heavily rely on the equivalent of 250 million barrels of oil, gas, and coal daily.
He challenged the industry’s longstanding perception as a problem contributor and urged major energy companies to demonstrate their pivotal role as a solution.
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Al-Jaber reported that more than 20 oil and gas companies have responded positively to his calls, committing to achieve net-zero emissions by 2050 and to eliminate methane emissions and routine flaring by 2030.
However, specific details regarding these commitments were not provided. The COP28 summit is scheduled to occur in Dubai from November 30 to December 12.
Leading up to the event, there is a significant divide among nations, with some advocating for a phased transition away from fossil fuels and others advocating for the preservation of coal, oil, and natural gas industries.
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This summit is regarded as a crucial opportunity for governments to accelerate climate action, given that current reports suggest countries are falling short of their commitments to limit global temperature increases to 1.5 degrees Celsius.
Notably, major oil and gas company executives held discussions with leaders in heavy industry on Sunday in the UAE to explore decarbonization commitments in advance of COP28.
Sultan al-Jaber’s proactive stance and the cooperation of oil and gas companies are setting the stage for an important climate summit, where decisive action is needed to address the pressing issue of global warming and the need for emissions reduction.
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