Al-Jaber singled out electricity, cement. steel and aluminum as targets for clean up, but not trucks, cars, trains and aircraft. He called for far greater investment to speed the transition to cleaner industries.
"According to the IEA, in 2022, the world invested $1.4 trillion in the energy transition," he said. "We need over three times that amount."
Each year, nations gather at COP to discuss how Paris Agreement goals to limit global warming to just 2.7 degrees Fahrenheit by 2050, can be achieved through international collaboration.
Sultan al-Jaber, the CEO of Abu Dhabi National Oil Co., talks during the World Government Summit in Dubai, United Arab Emirates, Feb 14, 2023. (AP Photo/Kamran Jebreili, file)
The 28th international Conference of the Parties or COP28 will be held in Dubai, Nov 30 to Dec. 12. As president, al-Jaber will have influence over how much pressure is brough to bear on those most reponsible for climate change, coal, oil and gas companies and countries that produce the fuels.
Al-Jaber is the United Arab Emirates minister of industry and advanced technology, also serves as the chairman of Masdar, a renewable energy company.
Ceraweek attracts high level oil and gas officials each year and is hosted by S&P Global.
This year COP28 will be held in UAE, which has drawn criticism given the nation’s high level of crude production. The Abu Dhabi National Oil Co. pumps approximately 4 million barrels of crude a day and plans on expanding to 5 million barrels daily.
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