Recently, Sultan al-Jaber, the president of COP28, stated that over 20 oil and gas companies are rallying around his efforts to lessen carbon emissions prior to the United Nations summit on climate change that is about to take place.
Jaber, who also happens to be the head of UAE oil giant ADNOC, has lately called upon the energy industry to actively be part of the battle against climate change. His selection to lead COP28, which starts next month, was controversial because of the UAE’s membership in OPEC and also its significant role as an exporter of oil.
Jaber stressed at a recent oil and gas conference held in Abu Dhabi on the need for a comprehensive transformation of entire economies and highlighted the fact that these economies currently rely on the consumption of approximately 250 million barrels of oil, gas, and coal on a daily basis.
As per him, for a long time, this industry has been perceived as contributing to the problem and, in some scenarios, has been accused of limiting progress. He added that this is indeed a chance to show to the world that all involved are truly a crucial part of the solution.
According to Jaber, more than 20 oil and gas companies have responded positively to the call for aligning with net zero emissions by 2050. These companies have also committed to eliminating methane emissions and ending routine flaring by 2030.
The upcoming COP28 summit will be held in Dubai from the 30th of November to the 12th of December.
As COP28 arrives, there happens to be a clear division among countries, with some pushing for to gradually eliminate fossil fuels, which cause global warming, and some that argue for maintaining the use of coal, oil, and natural gas in their energy mix.
The summit happens to be a critical opportunity for governments to pace up efforts in limiting global warming, as some of the recent findings indicate that countries are not on track to fulfil their commitments of restricting the increase in global temperatures to 1.5 degrees Celsius.