This came during the opening speech delivered by Dr. Sultan Al Jaber at the 39th edition of the Abu Dhabi International Petroleum Exhibition and Conference “ADIPEC 2023”.
Al Jaber, who is Managing Director and CEO of Abu Dhabi National Oil Company (ADNOC) and its group of companies, said that the world needs to reduce emissions by at least 43 percent by 2030 to avoid global warming exceeding 1.5 degrees Celsius.
The president-designate of COP28, Dr. Sultan Al Jaber, also called for tripling the capacity of renewable energy production to 11 thousand gigawatts by 2030, noting that this goal now has the support of 85 percent of the world’s economies.
He noted that investments in clean energy technology reached a record level of $1.7 trillion last year.
He continued, saying: “It is planned to add 440 gigawatts of renewable energy to the electricity networks this year, which is the largest annual increase in history.”
Dr. Sultan Al Jaber also stressed the need for teamwork to overcome the obstacles that hinder the use of hydrogen on a commercial scale and expand the scope of application of carbon capture technologies.
Below are the most important aspects of Dr. Sultan Al Jaber’s speech
- We call for tripling renewable energy production capacity to 11,000 gigawatts by 2030, and this goal is now supported by 85 percent of the world’s economies.
- Cop 28 should be a turning point to start getting back on track
- Everyone must be included and all stakeholders, especially from the energy sector, must participate in COP28 to achieve the energy transition goals
- All indicators confirm the necessity of changing the course of global efforts aimed at addressing climate change
- The world must reduce emissions by at least 43 percent by 2030 to avoid global warming exceeding 1.5 degrees Celsius.
- More than 20 global oil and gas companies have expressed their willingness to set a goal to reach net zero emissions by or before 2050.
- Investments in clean energy technology reached a record $1.7 trillion last year
- 440 GW of renewable energy is planned to be added to electricity grids this year, the largest annual increase in history
- Gradually reducing the use of traditional fuels is normal and expected, but it must be part of a comprehensive plan to transition the energy sector in a fair, rapid, orderly, responsible and logical manner.
- We must work together to overcome the barriers to commercial hydrogen use and expand the application of carbon capture technologies
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