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UAE’s Al Jaber urges Big Oil to step up its climate game

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DUBAI (Reuters) – The United Arab Emirates’ incoming president of COP28 on Thursday urged the energy industry to “step up efforts” to build a clean energy system.

Oil and gas companies need to achieve net-zero emissions by 2050, while industry-wide commitments need to be accelerated to achieve near-zero methane emissions by 2030, Sultan Ahmed Jaber told an OPEC international symposium in Vienna . Oil industry CEOs with ministers from OPEC and its allies.

“Phasing down fossil fuels is inevitable. In fact it is necessary. But it cannot be irresponsible,” Al Jaber added.

Jaber’s choice to lead the UN’s COP28 climate summit is controversial because his country is an OPEC member and a major oil exporter.

He called for an inclusive summit that would bring together all stakeholders, including the fossil fuel industry.

“The key challenge of this century is to substantially reduce emissions while maintaining strong sustainability,” he said.

“That’s why I’m so focused on being truly inclusive at COP28.”

Jaber told attendees at the CERAWeek energy conference in Houston earlier this year to work together to take ambitious action on the clean energy transition.

The UN-backed climate change conference recently invited oil and gas representatives, a far cry from the 2021 summit when energy companies complained they were excluded from the event.

Reporting by Maha El Dahan; Writing by Nadine Awadalla; Editing by Toby Chopra and Jason Neely

Our standards: Thomson Reuters Trust Principles.

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