The historic UAE consensus becomes a reference framework for all countries to keep the 1.5°C threshold within reach and ensure global implementation

 The historic UAE consensus becomes a reference framework for all countries to keep the 1.5°C threshold within reach and ensure global implementation

The UAE COP28 Presidency Consensus, a historic set of measures outlining a firm plan to keep the average global temperature rise below 1.5°C, has become the defining reference point for global climate ambition and sustainable development.

Speaking at the World Government Summit in Dubai, Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 President, noted that the UAE consensus provides clear direction for all countries to keep the 1.5°C mark within reach.

He added that parties must now move on to adopt follow-up measures to ensure implementation at the global level.

“For this agreement to go forward, we need to take serious steps,” said Dr. Al Jaber. “Now the hard part begins.” And continued: “We must show that an unprecedented agreement can translate into unprecedented actions. We are what we do, not what we say.”

Dr. Al Jaber was part of a panel on “Implementing the UAE Consensus Globally – From Agreement to Action”, alongside International Monetary Fund President Kristalina Georgieva , Simon Stiell, United Nations Executive Secretary for Climate Change, COP29 President-designate Mukhtar Babayev, and the environment ministers of Jordan and Bangladesh.

The COP28 President discussed the various transformative achievements of the unprecedented agreement, the critical factors for ensuring success and unprecedented action, and what remains to be done to maintain the 1.5°C mark at hand.
Since its creation at COP28, held in Dubai in December, the UAE consensus has established itself as a defining element of the multilateral climate framework, proving that multilateralism can still work, even in times of strong geopolitical tensions. “We have risen above geopolitics to advance the planet and all people,” said Dr. Al Jaber.

With inclusion as a guiding principle, COP28 was a success. The UAE brought the spirit of majlis, which allows everyone to share equally, and leveraged its relationships with key players – the United States, China, India and the ‘OPEC more. They also created the ALTERRA fund, with $30 billion, the first private investment fund to focus entirely on climate solutions.

The UAE Consensus is now recognized as a historic agreement that reaffirms the UAE’s position as a global leader in the international climate and development agenda, and more broadly in multilateral frameworks.

“While much remains to be done, the consensus has established a clear roadmap to keeping 1.5°C within reach by achieving a series of world firsts in the climate agenda,” Al Jaber said. He continued: “For 1.5°C to remain within our reach, we must redouble our efforts to take tangible measures.”

Under the UAE Consensus, all parties committed to an unprecedented agreement to abandon fossil fuels for the first time in the history of the COP. They set time-bound targets for developing renewable energy, with the aim of tripling global capacity, ending deforestation and doubling energy capacity by 2030. Al Jaber called on “all parties that signed the UAE consensus to uphold their commitments and honor their obligations.”

The UAE consensus operationalized and began funding a fund to address losses and damages. A first for inclusion was the creation of a youth climate champion position for all future conferences of the parties.

The UAE Consensus called on all industries to leverage their technology, talent and balance sheets to decarbonize their operations, and established climate finance as a critical success factor in achieving climate goals. climate matter. He also urged the oil and gas industry to shift gears, with 40% of global oil production committing to zero methane emissions by 2030 and zero methane emissions at all by to 2050.

The COP28 presidency also created a meaningful action agenda, focused on accelerating a just and orderly energy transition, securing climate finance, caring for people, nature, lives and livelihoods, promoting inclusiveness and bringing the energy sector to the negotiating table.

“We must maintain the political momentum and continuity of the COP,” said Dr Al Jaber. “Progress is fueled by partnership. Action is supported by solidarity.

To encourage continuity, the UAE is launching the COP Presidency Troika with Azerbaijan and Brazil, formally linking COP28 with the COP29 and COP30 Presidencies. Highlighting the importance of this collaboration, Dr Al Jaber said: “The Troika will maintain momentum, lock in continuity and anchor implementation.”

“We must take advantage of every step on the road from Dubai to Baku and Belém to redouble our efforts and turn rhetoric into results,” he added.

Countries must now take action by strengthening their nationally determined contributions, reducing economy-wide emissions and increasing climate investments.

Monitoring financing for the fight against climate change will also be an essential success factor. “Finance is the key element of the entire climate agenda,” said Dr Al Jaber. The new quantified collective objective on financing the fight against climate change will be an essential result of COP29.

They must fully capitalize losses and damages, reform international financial institutions and rely on the private sector to triple investments in clean technologies to $4.5 trillion per year by 2030.

To achieve these goals, governments must adopt a clear mindset shift to transform climate challenges into opportunities and create a new model of low-carbon socio-economic growth, with new industries and new jobs.

During the panel discussion, Dr. Al Jaber also addressed his position as CEO of ADNOC. He stressed that his experience in all forms of energy was an asset and that his ability to bring the energy sector to the table gave more meaning to the action program. He said ADNOC was aiming for net zero emissions by 2045.

The world must reach zero by 2050. Al Jaber said: “The journey to get there will be in different places and at different paces. As part of a transition that will take time, it is essential to maintain energy security with the lowest possible carbon intensity.

Dr. Al Jaber noted that this was the first COP to agree to transition away from fossil fuels. “The results speak for themselves,” he said.

WAM

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