COP28 Leader Calls For United Efforts To Implement UAE Consensus For Sustainability

Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology and COP28 President, emphasised the need for all stakeholders to implement the UAE Consensus to advance sustainable socio-economic development. Speaking at the eighth Ministerial on Climate Action (MoCA), he highlighted that solidarity was crucial in achieving this landmark agreement.

Since its inception at COP28 in Dubai last December, the UAE Consensus has become a key reference point for global climate ambition and sustainable development. Dr. Al Jaber urged ministers at the event in Wuhan, China, to draw from its "spirit of solidarity" to accelerate its implementation.

PetroChina has joined the Oil and Gas Decarbonisation Charter (OGDC), launched at COP28 to speed up decarbonisation in the sector. This makes PetroChina one of 53 companies, representing around 40 percent of global oil production, committed to this initiative. National Oil Companies account for over 60 percent of these signatories.

The OGDC aims for net zero by or before 2050, zero methane emissions by 2030, elimination of routine flaring by 2030, adherence to best practices in emission reduction, and investment in future energy systems. Dr. Al Jaber remarked that PetroChina’s participation is a "significant moment for Chinese leadership" and sends a strong message to other global companies.

Dr. Al Jaber called on countries to submit Nationally Determined Contributions (NDCs) that cover everything from decarbonisation to deforestation. He stressed the importance of turning NDCs into practical plans that transform the UAE Consensus into tangible results on the ground.

He added that these plans should be comprehensive and balanced across mitigation, adaptation, and means of implementation. The COP Presidencies Troika, which includes COP28 along with Azerbaijan and Brazil COP Presidencies, plays a critical role in maintaining political momentum.

Renewable Energy Goals

The UAE Consensus aims to triple renewable energy capacity this decade. Dr. Al Jaber acknowledged this as "a bold ambition that will stretch us all," citing IRENA’s report which states that global capacity needs to grow by 16.4 percent annually through 2030.

Despite challenges, he noted historical achievements in renewable energy growth. For instance, while only 1 gigawatt of solar power capacity was added globally in 2004, today twice that amount is added daily. He praised China’s significant contribution as it houses more than half of the world’s combined solar capacity and produces over 80 percent of all solar panels.

Role of Artificial Intelligence

Artificial Intelligence (AI) holds great potential for impacting energy and transport sectors while reducing emissions. However, Dr. Al Jaber warned that AI development will also increase energy demand significantly.

He emphasised the need to meet this demand smartly while leveraging AI’s benefits. Scaling up nuclear energy, speeding up permitting for renewable projects, modernising grid infrastructure, and recognising natural gas's transitional role are essential steps forward.

Climate Finance Reform

The COP28 President reiterated calls for reforming international financial frameworks to make climate finance more accessible and affordable while incentivising private-sector investment. He noted that many countries face limited fiscal options and increasing debt burdens.

"The trillions we need cannot come from governments alone," he said. "Yet, the private sector will not step in if the risks are too high." New entrants like ALTÉRRA could help change this dynamic with substantial commitments such as the US$30 billion pledged by the UAE at COP28.

Conservation Efforts

This week at MoCA, the COP Presidencies Troika is hosting a Majlis focused on conservation efforts including forests, sinks, and reservoirs protection through synergies between biodiversity and climate action.

This session is part of the Action and Ambition Majlis Series launched at Petersberg Climate Dialogue earlier this year as part of raising ambition for future NDCs.

The UAE Consensus set a high bar for climate action; however, Dr. Al Jaber encouraged Parties to set even higher standards through NDCs leading to concrete actions.

With inputs from WAM