COP28 President-Designate Calls On G7 Countries To Deliver On A Practical And Inclusive Energy Transition

Dr. Sultan Al Jaber, the president-designate of COP28, requested the nations of the G7 to set an example by making climate finance more available, more affordable, and more accessible, as well as by supporting initiatives to hasten a practical energy transition. He made the call while attending a joint meeting of G7 Ministers of Climate, Energy, and the Environment.

Dr. Al Jaber stated during his speech at the occasion that the world was falling behind on its climate commitments, calling for a significant course correction in the areas of mitigation, adaptation, loss and damage, and financing. He reaffirmed the desire of the COP28 Presidency to collaborate with the G7 in order to bring about a revolutionary change in each workstream.

"To get where we need to go, everyone must pull in the same direction. We must replace polarization with partnership, division with determination. That is why I am calling for a COP of Action, a COP of Unity, a COP of Solidarity, and a COP for All. We must act together to ignite a transformational agenda that is pro-growth, pro-climate and leaves no-one behind."

The G7 Ministers' talks on climate, energy, and the environment are taking place in Japan this month as part of that nation's G7 Presidency and in advance of the Summit in Hiroshima in May. With ministers from India, Indonesia, Japan, Canada, France, Germany, the UK, and the US, Dr. Al Jaber had bilateral discussions and emphasized the need for additional climate money to support a fair energy transition in developing countries.

Dr. Al Jaber called the G7 to come up with a new agreement on climate financing to accelerate climate action, from loss and damage reduction to adaptation and mitigation.

"We must make a fairer deal for the Global South. Not enough is getting to the people and places that need it most. Developed countries first need to follow through on the 100 billion dollar pledge they made to developing countries over a decade ago."

"On top of that, the world needs to triple the amount of money by 2030 that is available for cleantech investment, adaptation finance and a just energy transition in emerging and developing countries. The fact is that climate finance is nowhere near available, affordable, or accessible enough. We need fundamental reform of international financial institutions to achieve both climate and development goals."

The globe ran the danger of falling short of the Paris Agreement's goals and exceeding the world's climate targets, the COP28 President-Designate emphasized. He emphasised the necessity of an expedited, equitable, and practical energy transformation.

"We need to triple renewable capacity by 2030 and increase it 6-fold by 2040. We need smart government regulation to incentivize and commercialize viable alternatives for high-emitting sectors, like hydrogen and carbon capture technologies. And we need to continue to make the energies the world relies on today as low carbon intensive as possible, ensuring energy security is maintained during a well-managed transition.

"Let's remember that emissions are the enemy, not energy. We need maximum energy, minimum emissions to ensure sustainable economic and social development."

Dr. Sultan Al Jaber, who travelled to Japan from the World Bank's Spring Meetings in Washington, D.C., added that climate financing was a barrier to achieving action and emphasised the need to reform international financial institutions and fulfil the $100 billion pledge to developing nations.

"The global south is still waiting for wealthier economies to follow through on their promise to provide $100 billion in climate funding made more than ten years ago. They are also appropriately urging substantial changes to IFIs and MDBs.

The President-Designate of COP28 emphasised the significance of solidarity and cooperation in advancing climate action, saying, "The transformational development we need will only occur with total inclusion.

There can be no spectators. North and South, governments and business, science and civil society must come together at COP 28. In order to achieve the climate agreement of the decade, I am depending on you to pursue the policies and take the necessary steps. Let's maintain 1.5. For all of our people, let's secure sustainable economic and social growth. And let's not lose sight of the goal, which is to slow down emissions rather than advance.

This week, Dr. Al Jaber also had meetings in Tokyo with Fumio Kishida, the prime minister of Japan, and Yoshimasa Hayashi, the minister of foreign affairs, to discuss climate action. In the discussions, Dr. Al Jaber emphasised the value of advancing the strategic alliance between the UAE and Japan as well as the bilateral commitment of the two countries to expediting the energy transition in advance of COP28.