Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and President-designate of the COP28 Conference hosted by the UAE this year, affirmed that “the paradigm shift that we need in the climate action approach to accelerate progress requires the provision of financing in an accessible manner, and at an appropriate cost,” noting that “funding The demand is estimated at trillions of dollars.
He added, in his speech yesterday, before the World Summit on Sustainable Development, hosted by the Energy and Resources Institute (TERI) in New Delhi, that the vision of the country’s leadership focuses on consolidating the principles of sustainability in development efforts locally, regionally and internationally, stressing the importance of uniting efforts and pooling resources. Building quality partnerships.
He referred to the important global role of India, which currently holds the presidency of the Group of 20, and is on its way to be the third largest economy in the world soon.
He stressed that sustainable development is important for India and the world as a whole, considering the theme of the summit (mainstreaming sustainable development and climate resilience) as “a call to action addressed to all of us, and a fundamental pillar of the COP28 Conference.”
He said, “The UAE deals with its hosting of the COP28 Conference of the Parties with humility, responsibility, and with full awareness of the importance of the issues raised. Maintaining the global warming target of 1.5°C is not negotiable. It is clear that traditional business as usual will not lead to achieving this goal in the targeted timing. Therefore, we need a paradigm shift that restores momentum to climate action in the areas of mitigation, adaptation, financing, and losses and damages.
He continued, “During COP28, the development of food and water systems will receive the same amount of attention as the transition in the energy sector and industrial systems, because we need to progress in all sectors simultaneously.”
Dr. Sultan bin Ahmed Al Jaber pointed out that effective climate action provides great opportunities for creating job opportunities, creating new business areas, sectors and industries, and achieving the most radical shift in human growth and prosperity rates since the first industrial revolution.
He reaffirmed that the COP28 Presidency will continue to listen to everyone, consult and communicate with them, bring them together at the negotiating table and ensure that no one is left behind. He also highlighted the importance of partnerships for progress towards building a sustainable future for all.
He said, “COP28 is committed to achieving the global goal on adapting to the repercussions of climate change, and finalizing the agreement to double financing for adaptation,” adding that the “Institute of Energy and Resources” was and still is at the forefront of supporters of the goal of adaptation in order to protect the most vulnerable to the repercussions of climate change. in the countries of the Global South.
He explained that adaptation 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 the COP28 Conference of the Parties, shares with India the firm conviction that protecting and respecting nature is a fundamental obligation, especially since environmental protection and climate action were and still are at the core of the UAE’s development strategy, calling for cooperation, saying: «Let us join hands so that the Conference of the Parties The upcoming conference on practical results and inclusion of all, and let us remember that the world is advancing through partnership, not isolation. Let’s follow IERI’s mantra, which is that the best way to predict the future is to create it.
• “We are working to identify an approach capable of bringing about a paradigm shift that will restore momentum to climate action.”
