He stressed that the rise in global temperature does not exceed 1.5 degrees "is non-negotiable"

Sultan Al Jaber: Climate Action Transformation Needs Trillions of Dollars

Al-Jaber during his speech at the World Summit on Sustainable Development. WAM

The Minister of Industry and Advanced Technology and President-designate of COP28 hosted by the UAE this year, Dr. Sultan bin Ahmed Al Jaber, stressed that "the paradigm shift we need in the approach to climate action to accelerate progress requires the provision of financing in an accessible manner, and at an appropriate cost," noting that "the required funding is estimated at trillions of dollars."

He added, in his speech yesterday at the World Summit on Sustainable Development, hosted by the Institute of Energy and Resources (TERI) in New Delhi, that the vision of the leadership in the country focuses on consolidating the principles of sustainability in development efforts locally, regionally and internationally, stressing the importance of unifying efforts, pooling resources and building qualitative partnerships.

He pointed to the important global role of India, which currently holds the presidency of the G20, and is on track to become the third largest economy in the world soon.

He stressed that sustainable development is important for India and the whole world, considering the theme of the summit (mainstreaming sustainable development and climate resilience) "a call to action addressed to all of us, and a fundamental pillar of COP28".

"The UAE is dealing with its hosting of COP28 with humility, responsibility, and full awareness of the importance of the issues raised. Maintaining the goal of global warming not exceeding 1.5°C is also non-negotiable. It is clear that traditional business as usual will not lead to the achievement of this goal in the targeted time. Therefore, we need a paradigm shift that restores momentum to climate action in the areas of mitigation, adaptation, finance, and loss and damage."

"During COP28, the development of food and water systems will receive as much attention as the transition in the energy sector and industrial systems, because we need to progress in all sectors simultaneously."

Dr. Al Jaber pointed out that effective climate action offers great opportunities to create jobs, innovate new business areas, sectors and industries, and achieve the greatest radical transformation in human growth and prosperity rates since the first industrial revolution.

He reiterated that the COP28 presidency will continue to listen, consult and communicate with everyone, bring them to the negotiating table and ensure that no one is left behind, and highlighted the importance of partnerships in order to advance towards building a sustainable future for all.

"COP28 is committed to achieving the global target on adaptation to climate change and finalizing agreement to double adaptation financing," he said, adding that the Energy and Resources Institute has been at the forefront of supporting the adaptation goal to protect the most vulnerable individuals in the Global South.

Adaptation, he explained, also means preserving all life on the planet, protecting biodiversity, fragile natural ecosystems and endangered species.

He said that the UAE, during its presidency of COP28, shares with India the firm conviction that protecting and respecting nature is a fundamental commitment, especially that environmental protection and climate action were and still are at the heart of the UAE's development strategy, calling for cooperation, saying: "Let us join hands so that the next Conference of the Parties will be a conference of practical results and inclusion of all, and let us remember that the world is progressing through partnership, not closure. Let's follow the motto of the Energy and Resources Institute, which is that the best way to predict the future is to make it."

"We are working to identify an approach that can transform climate action."