AIRLINK 74.00 Decreased By ▼ -0.56 (-0.75%)
BOP 5.02 Decreased By ▼ -0.04 (-0.79%)
CNERGY 4.42 Decreased By ▼ -0.04 (-0.9%)
DFML 39.20 Decreased By ▼ -0.53 (-1.33%)
DGKC 86.09 Decreased By ▼ -1.46 (-1.67%)
FCCL 21.65 Decreased By ▼ -0.28 (-1.28%)
FFBL 34.01 Decreased By ▼ -0.58 (-1.68%)
FFL 9.92 Increased By ▲ 0.17 (1.74%)
GGL 10.56 Increased By ▲ 0.07 (0.67%)
HBL 113.89 Increased By ▲ 0.10 (0.09%)
HUBC 135.84 Decreased By ▼ -0.68 (-0.5%)
HUMNL 11.90 Increased By ▲ 1.00 (9.17%)
KEL 4.84 Increased By ▲ 0.17 (3.64%)
KOSM 4.53 Decreased By ▼ -0.11 (-2.37%)
MLCF 38.27 Decreased By ▼ -0.19 (-0.49%)
OGDC 134.85 Decreased By ▼ -1.29 (-0.95%)
PAEL 26.35 Decreased By ▼ -0.26 (-0.98%)
PIAA 20.80 Decreased By ▼ -1.69 (-7.51%)
PIBTL 6.68 Increased By ▲ 0.01 (0.15%)
PPL 123.00 Increased By ▲ 0.71 (0.58%)
PRL 26.69 Decreased By ▼ -0.28 (-1.04%)
PTC 14.33 Increased By ▲ 0.42 (3.02%)
SEARL 59.12 Decreased By ▼ -0.75 (-1.25%)
SNGP 69.50 Decreased By ▼ -0.56 (-0.8%)
SSGC 10.33 Decreased By ▼ -0.02 (-0.19%)
TELE 8.50 Decreased By ▼ -0.04 (-0.47%)
TPLP 11.23 Decreased By ▼ -0.11 (-0.97%)
TRG 64.85 Decreased By ▼ -1.15 (-1.74%)
UNITY 26.25 Decreased By ▼ -0.08 (-0.3%)
WTL 1.34 Decreased By ▼ -0.01 (-0.74%)
BR100 7,851 Increased By 26.3 (0.34%)
BR30 25,337 Decreased By -69.2 (-0.27%)
KSE100 75,207 Increased By 122.8 (0.16%)
KSE30 24,143 Increased By 49.1 (0.2%)

BERLIN: The UAE’s president-designate of the COP28 climate summit urged donors to deliver on a $100 billion pledge promised 14 years ago to developing countries and blamed delays in delivery for hindering climate action.

“Expectations are high. Trust is low,” Sultan al-Jaber told the Petersberg Climate Dialogue in Berlin on Tuesday.

“This is holding up progress and as part of my outreach, I am requesting donor countries to provide a definitive assessment on the delivery of this commitment before COP28,” he said, adding that the real value of the amount had eroded over time.

Representatives of more than 40 countries are coming together in Berlin this week as part of the Petersberg Climate Dialogue in order to discuss further steps towards achieving climate goals enshrined in the 2015 Paris agreement.

The UAE is hosting the global climate conference, COP28, from Nov. 30 to Dec. 10 in Dubai. Jaber, who also heads his country’s state energy giant ADNOC, has argued for a more inclusive approach to climate action that leaves no one behind, including the fossil fuel industry. On Tuesday, he repeated calls for phasing out fossil fuel emissions while focusing on developing zero carbon solutions.

“We know that the energies used today will continue to be part of the global energy mix for the foreseeable future,” he said.

“As such, we will work with the world to decarbonize the current energy system while we build a new one, capable of transitioning even the most heavy-emitting industries.”

COP28 head urges ‘accessible’ global climate finance

Renewables must triple in capacity by 2030 and then double again by 2040, he said. Jaber was a controversial pick to lead the COP28 climate summit because his country is an OPEC member and major oil exporter.

The United Arab Emirates is only the second Arab state to host the conference, after Egypt in 2022. Jaber’s COP28 presidency involves shaping the conference agenda and negotiations between governments.

Comments

Comments are closed.