President of the COP28 Summit at Expo City Dubai recently received the ‘Leadership Award for Building Global Consensus towards a Sustainable Energy Future’ at the annual CERAWeek Energy Conference by S&P Global in Texas, US.
Dr Sultan Al Jaber has been recognised for his efforts towards delivering the UAE Consensus, agreed to at the climate event in December. The agreement includes a commitment from all parties to transition away from fossil fuels in a just, orderly and equitable manner.
The landmark UAE Consensus has also set time-bound targets to substantially increase global renewable energy capacity. The deal is important as climate change has turned into potentially the greatest threat to humanity, triggering disasters and elevating temperatures.
UAE Consensus brings nations together in tough times
During his acceptance speech, Dr Al Jaber reiterated that multilateralism, inclusivity and the spirit of partnership had been instrumental in achieving the UAE Consensus – calling on CERAWeek attendees to help keep this spirit alive.
The COP28 President is also the UAE’s Minister of Industry and Advanced Technology, chairman of Abu Dhabi green energy company Masdar, and managing director and group chief executive of Abu Dhabi National Oil Company (Adnoc).
He highlighted that in a period too often engulfed by conflict, the agreement brought countries together to take a giant step forward for climate progress. Nations set aside self-interest for the goal of limiting global heating to 1.5C above pre-industrial levels, he added.
“Let’s keep in mind the sheer size of the energy system we are replacing – over 260 million equivalent barrels of oil, gas and coal consumed every day … The energy transition will take time. It will happen in different places at different paces.”
Inclusiveness and engagement at heart of climate action
Dr Sultan Al Jaber stressed the need for a responsible approach to ensure energy security and sustainability receive the required attention. Nonetheless, besides elevating the focus on fossil fuels, the COP28 conference also noted several other remarkable moments.
For instance, on the first day of the event itself, participants agreed to operationalise the Loss and Damage Fund to compensate vulnerable countries for consequences of climate change. The decision received substantial attention across the globe.
Daniel Yergin, Vice-Chairman of S&P Global and CERAWeek conference chair, presented the leadership award to the COP28 President. He noted that the UAE Consensus has paved the way for collaboration between governments and industry to take radical action together.
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