His Excellency Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, President of COP28, confirmed that in line with the vision of the leadership in the UAE, the COP28 presidency is keen to build strategic partnerships and enhance cooperation with all parties to confront the challenges of climate change and transform them into opportunities for sustainable economic development for all.
This came after the COP28 Presidency and the International Energy Agency concluded their high-level dialogue sessions, where His Excellency explained that the sessions contributed to reaching consensus on the basic elements required to achieve an orderly, responsible, fair and logical transition in the energy sector, indicating that this process and its complexities require agreement on The basic components necessary for its implementation, and collective work must be done to provide an effective response to the results of the global outcome that achieves the highest ambitions. He also welcomed the concrete measures proposed by world leaders during the closing session, and called for continuing to work with optimism and an open mind throughout the COP28 activities.
More than 40 heads of state, ministers and business leaders from Europe, the Americas, Africa and Asia participated in the closing dialogue session, and its results represent a major achievement for the co-chairs of the sessions, the President of COP28, His Excellency Dr. Sultan Al Jaber, and Dr. Fatih Birol, Executive Director of the International Energy Agency. The dialogue sessions concluded with a clear consensus on a number of basic elements to achieve an orderly, responsible, fair and logical transition in the energy sector, to preserve the possibility of achieving the 1.5 degree Celsius goal, and to support the issuance of a resolution that meets the highest ambitions regarding the global outcome to evaluate progress in implementing the goals of the Paris Agreement during COP28. .
Dr. Fatih Birol praised the participants’ solidarity and support for the five goals that the International Energy Agency calls for agreement at COP28, which include increasing the production capacity of renewable energy sources three times by 2030, doubling the rate of energy efficiency improvement by the same date, and the oil and gas sector’s commitment to coordinating its strategies and directing its investment portfolios. Towards maintaining the possibility of achieving the 1.5 degree Celsius goal, including focusing on reducing methane emissions by 75 percent by 2030, and activating clean energy financing mechanisms in developing countries on a large scale, indicating the need for the world to transform support for goals into tangible actions. The attendees affirmed their support for the “Global Pledge for Renewable Energy and Energy Efficiency” issued by the COP28 Presidency, which has the support of more than 130 countries so far.
The session reached an agreement on the need to take urgent measures to stop the establishment of factories and power stations operating with coal, the emissions of which are difficult to mitigate, and to accelerate the cessation of the operation of current stations. The leaders agreed on the importance of the role of each country and organization, and that developed countries must support developing countries, whether with financing or by transferring technology. As well as the need for countries to take advantage of the opportunity to develop and accelerate their plans for the transition in the energy sector.
The session also highlighted initiatives such as “Just Energy Transition Partnerships,” as an effective mechanism to support the achievement of an orderly, responsible, fair and rational transition in the energy sector, supporting these efforts.
The final dialogue, which was held during the World Climate Action Summit on the sidelines of COP28 activities in Dubai, comes after a year of engagements and engagements in which the main elements of the energy transition were discussed, which included renewable energy, energy efficiency, financing, and the supply and demand sides of oil and gas. , and reducing emissions. The series of dialogues was conducted in cooperation with the International Renewable Energy Agency and with the support of the Secretariat of the United Nations Framework Convention on Climate Change.
During the dialogue sessions, leaders and officials expressed their support for achieving effective and tangible goals, accelerating the expansion of the production and use of renewable energy and improving energy efficiency.
#COP28 #Presidency #International #Energy #Agency #stress #necessity #transition #energy #sector #achieve #degree #Celsius #goal