By Yange Ikyaa
COP28 president-dtesignate, Sultan Al Jaber, has emphasized the integral role that the oil and gas industry plays in solving the climate challenge and urged the sector to increase its commitment towards achieving climate targets.
Al Jaber said by 2030, there will be an extra half a billion people living on this planet, demanding more energy every year; and that the world needs to cut emissions by 7% each year, which is a global challenge that calls for global solutions from every stakeholder acting in unity and solidarity.
According to him, energy leaders have the knowledge, experience, expertise and the resources needed to address the dual challenge of driving sustainable progress while holding back emission.
Al Jaber, who is also UAE’s Minister for Industry and Advanced Technology, called on quicker decarbonization to save the planet from an irreversible catastrophe.
In his own words, “Let me call on you today to decarbonize quicker, future-proof sooner and create the energy system of the future, today. Alongside all industries, the oil and gas sector needs to up its game, do more and do it faster.
“This year, the world will evaluate exactly where we are when it comes to climate progress through the first Global Stocktake. And we know we are way off track. We need a major course correction.
“Every government, every industry, every business, and every individual have a role to play and no one can be on the sidelines. The oil and gas industry in particular is integral to developing the solutions and it should take responsibility and lead the way.
“Along with rapidly decarbonizing its operations, the oil and gas sector should help decarbonize the operations of its customers.”