COP28 president Dr. Sultan Al Jaber has urged global stakeholders to take action to ensure implementation of the UAE Consensus, the measures agreed on at COP28 that aim to keep the average global temperature rise below 1.5°C
Speaking at an event at the headquarters of the International Energy Agency (IEA), Dr Al Jaber said, "The UAE Consensus raised the bar and set a clear path to keep our north star of 1.5°C within reach." The event was attended by ministers, ambassadors, industry executives and other leaders, including Fatih Birol, executive director of the IEA, Laurent Fabius, COP21 president and John Kerry, the United States special presidential envoy for Climate.
Noting that at COP28 "solidarity overcame polarisation, inclusivity prevailed over finger-pointing and the spirit of partnership brought the best of humanity together", which was key to achieving the UAE Consensus, Dr. Al Jaber asked attendees "to keep this spirit alive and build on the momentum achieved at COP28. The UAE Consensus set a new direction and a clear course correction. We must now turn an unprecedented agreement into unprecedented action. Now is the time for all stakeholders to step up," he added.
Emission reduction targets
Al Jaber urged signatories to the concensus to adopt comprehensive economy-wide emission reduction targets, that cover all greenhouse gases, are aligned with the science and keep 1.5°C in reach.
All industries should leverage their technology, talent, and balance sheets to decarbonise at scale, Dr. Al Jaber said, as outlined in the UAE Consensus. COP28 also urged the oil and gas industry to step up, with 40% of global oil production committing to zero methane emissions by 2030 and net zero by or before 2050. While describing these targets as "a good start”, Dr. Al Jaber said he would continue to push for more.
He called for measures to address the demand side, such as policy incentives to commercialise zero carbon alternatives for heavy industry, such as hydrogen, as well as massive investment in grid infrastructure to deliver renewable energy to the end user. He also called for new financial models to help the the Global South, noting the launch of the world's largest private investments vehicle for climate action – ALTÉRRA. Trillions rather than billions need to be mobilised, he stressed.
The COP28 president concluded by calling on the industries and countries represented at the event to support in "driving the progressive agenda of the UAE Consensus forward" and "COP28 created a moment of hope in challenging times. Let's not waste it. Let's harness this positive energy to drive breakthrough progress."
