Home » News » Dr. Sultan Al Jaber Highlights UAE’s Commitment to Climate Action and Sustainable Development at CARICOM Conference

Dr. Sultan Al Jaber Highlights UAE’s Commitment to Climate Action and Sustainable Development at CARICOM Conference

His Excellency Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, President-designate of the Conference of the Parties (COP28) stressed that the vision and directives of the leadership in the UAE focus on including everyone, especially from the countries of the Global South, to accelerate climate action in conjunction with achieving sustainable economic and social development, and building a future Better for future and current generations, stressing the UAE’s determination to unify the efforts of all parties in a way that enhances the conference’s ability to achieve the required achievements and contain everyone and meet their needs.

This came in his speech before the CARICOM Heads of Government Conference in Port of Spain, the capital of the Republic of Trinidad and Tobago, where he explained that the countries of the Caribbean region are able to play an important role in COP28 to coordinate support for the required climate action, calling for the development of the usual traditional methods of work, in order to Ensuring that climate diplomacy can meet the needs of Caribbean countries.

His Excellency affirmed his confidence in the ability of the Caribbean community to contribute to mobilizing support to achieve ambitious negotiating results and to agree on an action agenda that contributes to reaching substantive solutions, adding that “through concerted efforts, we can achieve a logical, practical and just transition in the energy sector, adopting clean energy technologies while ensuring energy security and promoting global economic growth.

His Excellency praised the efforts of Her Excellency Mia Motley, Prime Minister of Barbados, in advancing the process of developing climate finance for the countries of the Global South most vulnerable to the repercussions of climate change.

He reaffirmed his support for what Her Excellency called for in Paris last month, and her stress on the world’s need to accelerate and expand action to address climate challenges, stressing that “we need to achieve radical progress and develop the usual traditional methods of work to achieve positive results.”

His Excellency said, “We have only seven years to reduce emissions by 43 percent, in order to adhere to the Paris Agreement, and to preserve the possibility of achieving the goal of avoiding the global temperature rise exceeding 1.5 degrees Celsius, and we need to make a quantum leap through the issues of mitigation, losses and damages, and of course climate finance.

He continued, “It is necessary to achieve a logical, practical and just transition in the energy sector that leaves no one behind, in conjunction with increasing the production capacity of renewable energy three times and doubling hydrogen production. We must also protect nature, strengthen food and health systems, and increase the effectiveness of adaptation plans.”

His Excellency explained that this means achieving the global goal on adaptation and doubling financing for adaptation, because providing financing is a necessary factor to support all aspects of climate action, including activating the Loss and Damage Treatment Fund and its financing arrangements, reaffirming that the COP28 presidency will continue its efforts to develop financing and develop the performance of international financing institutions. at the forefront of the international climate action agenda.

His Excellency said, “We need to continue pressure on donor countries to fulfill their commitment to provide the $100 billion in climate financing to developing countries, which they pledged more than a decade ago, and this must be fulfilled during the current year, so that we can find fundamental solutions to the larger issue of Develop financing arrangements and mechanisms.

In this context, His Excellency clarified that the current international financial structure is not suitable for the purpose required of it, because international financing institutions and multilateral development banks do not provide concessional climate finance to the extent necessary and quickly enough to reduce risks and attract more capital and private financing.

His Excellency Dr. Sultan Al-Jaber said, “A positive and radical change must be achieved in this field. Therefore, we need to gather all stakeholders in the financial community at the negotiating table, and adopt a comprehensive and holistic approach to confront this global challenge.”

2023-07-05 20:18:45
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