UAE hosting COP28 a ‘huge pride for OPEC’, says Al Ghais – News

OPEC chief appreciates UAE’s leadership in energy sector’s response to climate challenge

OPEC Secretary-General Haytham Ghaith. — Reuters

OPEC Secretary-General Haytham Ghaith on Monday praised the UAE’s leadership on climate change, as well as its long-term commitment to sustainable practices and international cooperation to address current challenges.

As the UAE marks 2023 as the “Year of Sustainability”, he said the culmination would be Dubai hosting COP28, a “huge pride for OPEC”.

“The UAE has repeatedly demonstrated climate leadership, notably through its Net Zero 2050 strategic initiative and its $40 billion investment to date in the renewable energy sector,” the OPEC president said at the 30th Middle East Oil and Gas Conference (MPGC 2023) in Dubai on Monday In his speech, he said that amazing progress had been made in a relatively short period of time.

“We have followed with great interest the call by Sultan Al Jabber, President-elect of COP28, for an aggressive, pragmatic and realistic approach to the climate challenge… OPEC believes that the challenge before us will be accurately diagnosed. It is about reducing greenhouse gases emissions, rather than the misleading narrative of substituting one energy source for another. Technological innovation will play a key role in achieving this goal. This is where Member States invest heavily in hydrocarbon projects, carbon capture utilization storage facilities and cycle carbon economic reasons. There is no better place to demonstrate this than the UAE. The breadth of what the UAE is doing to address the climate challenge is critical. We need to focus on all people, all fuels and all technological approaches to the energy transition,” he said in said in his opening remarks at the two-day summit.

“The oil and gas industry has recently been challenged by some to make it a moment of truth at cop28. Obviously, I cannot claim to speak for everyone, but I believe the industry must acknowledge and stand for its role in ensuring global energy security while reducing emissions across the board Proud of the work done.”

The OPEC chairman underlined his high appreciation for the UAE’s leadership in the energy sector in addressing climate challenges and bringing stakeholders together at COP28. “This reflects the constructive role played by this great country in OPEC and OPEC+, under the leadership of the UAE delegation of the UAE Oil Minister, as a consensus builder and a builder of cooperation. I thank the UAE for making OPEC a Successful and dynamic organization.”

– waheedabbas@khaleejtimes.com