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COP28: Dr Al Jaber calls on oil and gas industry to step up and drive climate solutions – News

The COP28 President-designate welcomes the progress and action of more than 20 oil and gas companies that have responded positively to the call to take action to curb emissions.

Dr. Sultan bin Ahmed Al Jaber speaks at the opening of ADIPEC 2023. — Wam

by WAM

Published: Monday, October 2, 2023, 6:16 p.m.

Last update: Monday, October 2, 2023, 8:22 p.m.

The oil and gas industry “can and must help drive solutions” to global energy challenges, COP28 President-designate Dr Sultan Al Jaber said in Abu Dhabi, urging the industry to “give one step forward” to decarbonize more and faster.

Under the patronage of the President, His Highness Sheikh Mohamed bin Zayed Al Nahyan, Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and President of the Presidential Court, inaugurated the 39th edition of the ADIPEC Exhibition and Conference.

In his keynote address, Dr. Al Jaber, UAE Minister of Industry and Advanced Technology, noted that ADIPEC, the world’s largest energy exhibition and conference, brings together the leaders who must shape a future in the that energy is accessible, safe, affordable and sustainable. and decarbonized.

Dr. Al Jaber stressed that the industry is “essential” to solving the global challenges facing humanity.

“No other industry has the same ability to manage the complexity, depth of knowledge, engineering talent, capital, technology and scale needed for the task at hand.”

Dr. Al Jaber is optimistic and confident that the energy industry can step forward and make a significant contribution to tangible sustainable progress. He highlighted that according to calculations by the Intergovernmental Panel on Climate Change (IPCC), “the world must reduce emissions by at least 43 percent in the next 7 years so that we can keep 1.5 (degrees Celsius) within our reach. That is our north star. It is our only destiny. It is simply recognizing and respecting science. And we must do so while ensuring human prosperity by meeting the energy needs of the planet’s growing population.”

Dr Al Jaber called for a “system-wide holistic transformation” of global economies, which currently run on the equivalent of 250 million barrels of oil, gas and coal each day.

“These are barrels that need to be replaced or decarbonized to create an adequate but responsible, pro-climate and pro-growth future. It is a monumental task. But it is also a historic opportunity for growth and innovation. “It represents the greatest economic opportunity since the first industrial revolution.”

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