COP28 President calls on industries to innovate, invest in clean technology

Addis Ababa, November 30, 2023 (FBC) – President of the COP28, Dr Sultan al-Jaber, in his remarks at the opening session of conference, called on industries to engage, innovate, modernize and invest in clean technology.

He said that, after a long discussion, oil companies affirmed their commitment to zero methane emissions by 2023 for the first time.

Now many national oil companies have adopted net zero 2050 target for the first time joining the game changing journey, he said.

He stressed the need to encourage countries to establish net-zero emission target as part of their next round their national goals.

The President also called on operators of heavy transportation and companies engaged in production of steel, cement and aluminum to accelerate decarbonization.

We must translate the negotiation outcomes into real results. “Let’s bring back the lost trust in multilateralism.”

We all know that a key success factor across climate agenda is finance, he said, affirming his commitment to unlocking finance to ensure that the global south does not have to choose between development and climate action.

“Adaptation must be at the heart of our action,” he underscored.

“We must bridge the finance gap and agree on a robust framework for the global goal. Let put nature, life, livelihoods at the core of our national plans,” he added.