BERLIN, April 26,
2024 /PRNewswire/ -- Speaking in the High-Level
Segment of the annual Petersberg Climate Dialogue, attended by
Chancellor Olaf Scholz, President
Ilham Aliyev of Azerbaijan and a number of Climate and Foreign
Affairs Minister Ministers, COP28
President Dr Sultan Al Jaber urged
governments to "think bigger, act bolder" on national climate
plans.
The COP28 President highlighted
how the UAE Consensus has emerged as the defining point of
reference for global climate ambition and sustainable development
since its inception in Dubai last year.
"The UAE Consensus represents a historic milestone in climate
diplomacy, precisely because it achieved cross-sectoral
breakthroughs across the entire climate agenda," Dr. Al Jaber declared. "Together, we set a clear
pathway for the energy transition, backed by the science, and
focused on the north star of 1.5."
Dr Al Jaber continued, "We locked
in the first ever global renewable energy targets. We achieved
firsts for nature, setting a 2030 deadline to end deforestation. We
made breakthroughs in finance, ending a 30-year deadlock on loss
and damage, and beginning to fill a fund that is critical for
climate justice. We also included under-recognized sectors like
food and health in the COP agenda for the first time. And we did
all this against a backdrop of geopolitical tensions, proving that
multilateralism still works and that unity can overcome
polarization. In short, we sent a message of hope, optimism and
inclusivity that could not be more important today."
The COP Presidencies Troika – the groundbreaking initiative aims
to enhance continuity between COP 28,
COP29 and COP30 and drive implementation of the UAE
Consensus – is pushing governments to be "more ambitious" in their
next round of Nationally Determined Contributions (NDCs), Dr.
Al Jaber said. Governments should
set out economy-wide emission reduction plans and also produce
"well-funded" national adaption plans to protect nature and
transform food systems, he said.
"My message to governments is simple think bigger, act bolder,"
Dr. Al Jaber told delegates. "Send a
clear message early with your next NDC that puts green
infrastructure at the center of your development plans."
The COP28 President also advocated
for "smart policies that push industries to step up and incentivize
the private sector to invest," adding "we are talking about a
system-wide transformation that represents the biggest opportunity
for socio-economic development since the first industrial
revolution. Simply put, the world will be a better place after this
transformation. But it will not happen without significant
investment and a level up in climate finance."
Dr. Al Jaber highlighted four key
investment priorities: infrastructure, technology, people, and the
Global South. On infrastructure, the world needs to invest at least
US$6 trillion to meet the 2030 target
of 11 terawatts of renewable energy capacity, Dr. Al Jaber stated, with a "similar level of
investment" in outdated or nonexistent energy grids, especially in
developing countries.
Artificial intelligence "can be a gamechanger" by multiplying
efficiencies and helping to solve the intermittency challenges
posed by renewables, the President said, adding that it could also
minimize water usage. "The faster we apply AI across energy and
water intensive sectors, the faster its benefits can be scaled," he
declared.
All countries should also invest in their people, developing new
skills for the new green economy, while Dr. Al Jaber reiterated the need to increase
investment in the Global South. "Right now, over 120 developing
countries attract less than 15 per cent of global clean tech
investment," he said. "Multilateral Development Banks must make
finance more available, accessible and affordable."
Dr. Al Jaber said the energy
transition would take time and "will happen at different paces in
different places and we cannot unplug the current energy system
until the new one is built." It must also be just, equitable
and responsible, in line with the targets set out in the UAE
Consensus.
During the Climate Dialogue, the COP Presidencies Troika also
hosted a Majlis, a form of meeting rooted in longstanding
Emirati traditions, to discuss the energy transition.
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SOURCE COP28