World

UAE names oil chief the president of COP28 climate talks

President of COP28 climate

Environmentalists were quick to react, warning that involving an oil industry major could hamper progress in combating global warming.

Environmentalists have criticized Sultan Ahmed al-Jaber’s selection as the president of COP28.

Dubai: The chief of the United Arab Emirates nation’s oil company was announced Thursday as the president at the COP28 climate talks this year. COP28 climate talks prompted intense criticism from environmentalists.

Sultan Ahmed al-Jaber, the CEO of Dubai’s Abu Dhabi National Oil Company (ADNOC), is the first CEO to assume the helm during the UN summit in New York, according to a statement released in the officially-owned WAM news agency.

“We’ll provide a practical, grounded, and solutions-focused mindset. That results in fundamental advancements for climate change and low-carbon economic growth, “Jaber stated in the news item.

“I sincerely believe that climate action today is an immense economic opportunity for investment in sustainable growth,” he added.

Environmental campaigners issued a warning right away. That the involvement of a significant individual from the oil industry may impede efforts to combat global warming.

Jaber’s choice “presents a shocking conflict of interest The appointment of Jaber “creates an outrage[ing] conflict of interest.” Said Harjeet Singh, director of Climate Action Network International’s global political strategy.

“The persistent threat of fossil fuel lobbyists has continually undermined the success of the UN climate talks. But this raises it to a new, risky level that is unheard of.”

The document was approved at COP27, which concluded on November 27 in Egypt. Which sparked a contentious discussion over aid for nations impacted by climate change. It was unable to set new targets for cutting carbon dioxide emissions, though.

Dubai is serving as the event’s host city for the World Cup this year. Which will be held in Dubai in November and December, has alarmed environmental campaigners. Who wants to transition away from an oil-based economy that produces greenhouse gases.

Too hot for human beings

One of the biggest producers of crude oil globally, the UAE maintains that oil is vital to the global economy. Additionally, it promotes carbon capture as a practical method for removing carbon dioxide. The most important greenhouse gas is produced by burning or removing fuel from the environment.

“Significant emission cuts, as well as a pragmatic, doable, and realistic strategy to the energy transition, are needed to keep global warming to 1.5C. More assistance for emerging economies “Regarding the goal established by the prior COP conferences, the UAE made a declaration.

“The United Arab Emirates is dedicated to inclusive dialogue and multilateral collaboration. Together with developed countries, civic society, and business, emerging economies can accelerate change and provide answers.”

The UAE is one of the nations most affected by climate change. Because it is located in one hottest parts in world, where highs over 50 C (122 F) are not unusual.

Toward the end of century, the Gulf may become too hot for human settlement, according to report released in 2021.

Due to the economy’s recent diversification. Since oil profits currently account for 30% of GDP, the UAE has become less and less reliant on them.

But according to the Gulf state, the gas and oil sector will need to invest more than $600 billion. Annually until 2030 to satisfy the expected demand.

The UAE is spending billions of dollars to create enough in the meanwhile and concurrently. By 2050, renewable energy will supply the bulk of its energy needs. In addition, it aims to achieve carbon neutrality within its own borders. Which is a requirement that excludes emissions from oil exports.

 

 

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