Sultan al-Jaber, who is the president-designate for COP28, announced on Monday that over 20 oil and gas companies are uniting in support of his efforts to reduce carbon emissions in anticipation of a United Nations climate change summit.
Jaber, who also serves as the leader of the United Arab Emirates’ ADNOC, has been advocating for the energy sector to actively participate in the battle against climate change throughout this year.
“We need a system-wide holistic transformation of entire economies – economies that currently run on the equivalent of 250 million barrels of oil, gas, and coal every single day,” Jaber said at an oil and gas conference in Abu Dhabi, according to Gulf Business.
“For too long, this industry has been viewed as part of the problem, that it’s not doing enough and in some cases even blocking progress. This is your opportunity to show the world that, in fact, you are central to the solution,” he said, addressing major energy companies.”
Collective action at COP28
Jaber revealed that more than 20 oil and gas companies have responded positively to the call for alignment with the net-zero target by 2050, along with the commitment to eliminate methane emissions and cease routine flaring by 2030. However, he did not provide further details.
COP28 is scheduled to occur in Dubai from November 30 to December 12. Leading up to the summit, there is a clear divide among nations, with some pushing for an agreement to phase out fossil fuels that contribute to global warming, while others advocate for maintaining the role of coal, oil, and natural gas in the energy mix.
The summit holds significant importance as it provides governments with a crucial opportunity to expedite actions to curb global warming. Current reports indicate that countries are falling behind in meeting their commitments to restrict the increase in global temperatures to 1.5 degrees Celsius.
Before COP28, prominent figures from major oil and gas companies engaged in discussions with leaders from heavy industries in the UAE on Sunday to explore decarbonisation commitments in advance of the summit.
