India’s “pro-growth” and “pro-climate” agenda presents a significant economic opportunity, Dr Sultan Al Jaber, President-designate of Cop28, said.
“As India’s economy surges, it is dealing with the fundamental question that the whole world faces,” Dr Al Jaber, who is also the Minister of Industry and Advanced Technology, said at the India Energy Week in Bengaluru on Tuesday.
“How to adopt policies that are pro-growth and pro-climate at the same time. How to provide for a world that will consume 30 per cent more energy by 2050, while protecting our planet. In short, how to hold back emissions, not progress.”
India, which aims to become net-zero by 2070, plans to produce 500 gigawatts of non-fossil fuel capacity by 2030.
The country, Asia's third-largest economy, also plans to produce 5 million tonnes of green hydrogen annually by 2030, with the potential to reach 10 million tonnes as export markets grow.
“Last year, despite an ongoing war, fears of recession and a world still recovering from Covid, annual global investment in clean energy exceeded $1 trillion for the first time,” said Dr Al Jaber.
Calling India’s renewable energy targets “very achievable”, he said the UAE was keen to partner with the country to advance clean energy.
“We have spent the last two decades diversifying our energy portfolio and we need everyone on this journey with us, so that together we can triple global renewable energy capacity over the next seven years.”
Investment in renewable energy needs to double to more than $4 trillion by the end of the decade to meet net-zero emissions targets by 2050, the International Energy Agency said in its World Energy Outlook last year.
The IEA’s stated policies scenario (Steps), which is based on the latest policy settings worldwide, expects clean energy investment to rise to slightly more than $2 trillion by 2030.
Dr Al Jaber also said that clean energy policies should take into consideration the needs of people in the Global South, which includes Latin America, Asia, Africa and Oceania.
“We must empower the Global South, where almost 800 million people have no electricity, in an inclusive energy transition,” said Dr Al Jaber.
“And we need to move from talking about goals, to getting the job done.”
He also highlighted the complexity of the energy transition as a “system-wide rewiring” of global economies and noted that despite the “impressive” growth of wind and solar power, renewable energy by itself would not be sufficient.
“Without a breakthrough in battery storage, we must invest heavily in carbon capture, nuclear power and the hydrogen value chain. But spending on these fundamental enablers of decarbonisation are less than 5 per cent of what is spent on renewables.”
The UAE is set to host the next UN Cop28 climate summit, which will start at the end of November.
The meeting of heads of state, finance and business leaders, and members of civil society, will take stock of what has been achieved since the Paris Agreement of 2015.
The UAE, Opec’s third-largest oil producer, is pursuing goals to reduce its carbon footprint and last year, became the first country in the Middle East to set a net-zero target, which it aims to achieve by 2050.
The Emirates plans to invest $160 billion in clean and renewable energy sources over the next three decades.
It is building the Mohammed bin Rashid Solar Park in Dubai with a five-gigawatt capacity. Abu Dhabi, which is developing a two-gigawatt solar plant in its Al Dhafra region, has set a target of 5.6 gigawatts of solar PV capacity by 2026.
“The task ahead is enormous. It represents the biggest shift in human development across every aspect of our lives, from the way we produce and use energy, to how we grow our food, conserve our water and preserve our natural ecosystems,” said Dr Al Jaber.
“The UAE Cop presidency is listening and ready to engage. Let us meet this challenge together. Let us turn it into the opportunity of our lifetimes. And let’s make transformational, inclusive and lasting progress.”
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Sheikh Abdullah bin Zayed, Minister of Foreign Affairs and International Co-operation, unveils the Cop28 logo with President-designate Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, at Abu Dhabi Sustainability Week. Victor Besa / The National -
The Masdar display at the event. Victor Besa / The National -
The Mohamed Bin Zayed University stall. Victor Besa / The National -
Visitors walk past the Masdar stall. Victor Besa / The National -
The Adnoc display. Victor Besa / The National -
The National signage on display at the event. Victor Besa / The National -
The government of Fujairah's stall. Victor Besa / The National -
The Abu Dhabi Department of Energy's display. Victor Besa / The National -
Another view of the Adnoc stand. Victor Besa / The National -
Another view of the Masdar display. Victor Besa / The National -
Visitors at Abu Dhabi Sustainability Week. Victor Besa / The National -
Day two of Abu Dhabi Sustainability Week. Khushnum Bhandari / The National -
Abu Dhabi Sustainability Week aims to accelerate sustainable development and advance economic, social and environmental progress. Khushnum Bhandari / The National -
The Envision stand at Abu Dhabi Sustainability Week. Khushnum Bhandari / The National -
Masdar's stand at Abu Dhabi Sustainability Week. Khushnum Bhandari / The National -
The Tadweer stand. Khushnum Bhandari / The National -
The event brings together heads of state, industry leaders, entrepreneurs, investors and senior policymakers. Khushnum Bhandari / The National -
A solar energy diorama on Day 2 of Abu Dhabi Sustainability Week at Adnec in Abu Dhabi. Khushnum Bhandari / The National -
Abu Dhabi Sustainability Week plays host to some very big names in international business, including Huawei of China. Khushnum Bhandari / The National -
Saeed Al Tayer, managing director and chief executive of Dubai Electricity and Water Authority, delivers a speech. Khushnum Bhandari / The National -
Mahmoud Mohieldin, executive director of the IMF, left, in discussion on Day 2 of Abu Dhabi Sustainability Week at Adnec in Abu Dhabi. Khushnum Bhandari / The National -
Visitors at the Dubai Electricity and Water Authority stand at Abu Dhabi Sustainability Week in Adnec, Abu Dhabi. Khushnum Bhandari / The National -
Awaidha Al Marar of the Abu Dhabi Department of Energy, an Abu Dhabi Executive Council Member and Member of Enec's board of directors, delivers opening remarks on Net-Zero Ambitions in Energy on Day 2 of Abu Dhabi Sustainability Week at Adnec. Khushnum Bhandari / The National -
The Dubai Electricity and Water Authority (Dewa) stand at Abu Dhabi Sustainability Week in Adnec, Abu Dhabi. Khushnum Bhandari / The National -
The Aldar stand at Abu Dhabi Sustainability Week in Adnec, Abu Dhabi. Khushnum Bhandari / The National -
The Bee'ah stand at Abu Dhabi Sustainability Week in Adnec, Abu Dhabi. Khushnum Bhandari / The National -
Mariam Al Mheiri, Minister of Climate Change and Environment, and Ahmed El Hoshy, chief executive of Fertiglobe, right, in a panel discussion titled A Manifesto for Food Systems at Abu Dhabi Sustainability Week in Adnec, Abu Dhabi. Khushnum Bhandari / The National -
Sharif Al Olama, Undersecretary of the Ministry of Energy and Infrastructure, delivers a speech promoting solar power at the opening of Abu Dhabi Sustainability Week. Khushnum Bhandari / The National -
Laurent Fabius (2nd L), president of the constitutional council of France, speaks to guests at Abu Dhabi National Exhibition Centre. Photo: Presidential Court -
President Sheikh Mohamed speaks to John Kerry, US presidential envoy for climate, at a reception before the opening ceremony. Photo: Presidential Court -
President Sheikh Mohamed meets Hakainde Hichilema, President of Zambia. Photo: Presidential Court -
President Sheikh Mohamed meets Nana Akufo-Addo, President of Ghana. Photo: Presidential Court -
Dr Sultan Al Jaber, right, Minister of Industry and Advanced Technology Group, chief executive of Adnoc and chairman of Masdar, receives Prince Abdulaziz bin Salman, Saudi Arabia’s Minister of Energy. Photo: Presidential Court -
President Sheikh Mohamed greets Kassym-Jomart Tokayev, President of Kazakhstan. Photo: Presidential Court -
President Sheikh Mohamed stands for a photograph with heads of state and government. (Front row: R-L) presidents Surangel Whipps Jr of Palau, Nana Akufo-Addo of Ghana, Kassym-Jomart Tokayev of Kazakhstan, Yoon Suk Yeol of South Korea, Ilham Aliyev of Azerbaijan, Joao Lourenco of Angola, Filipe Nyusi of Mozambique and Abiy Ahmed, Prime Minister of Ethiopia. (Back row: R-L) Aziz Akhannouch, Prime Minister of Morocco, Wavil Ramkalawan, President of Seychelles, Hakainde Hichilema, President of Zambia, Yoweri Museveni, President of Uganda, Tiemoko Meyliet Kone, Vice President of Ivory Coast and Dr Sultan Al Jaber. Photo: Presidential Court -
President Sheikh Mohamed greets a guest. Photo: Presidential Court -
Dr Al Jaber with Ilham Aliyev, President of Azerbaijan. Photo: Presidential Court -
President Sheikh Mohamed greets Abiy Ahmed, Prime Minister of Ethiopia. Photo: Presidential Court -
(Back row L-R) Siaosi Sovaleni, Prime Minister of Tonga, Aziz Akhannouch, Prime Minister of Morocco, Wavil Ramkalawan, President of Seychelles, Hakainde Hichilema, President of Zambia, Surangel Whipps Jr, President of Palau, Nana Akufo-Addo, President of Ghana, Kassym-Jomart Tokayev, President of Kazakhstan, Yoon Suk Yeol, President of South Korea, President Sheikh Mohamed, Ilham Aliyev, President of Azerbaijan, Joao Lourenco, President of Angola, Filipe Nyusi, President of Mozambique, Abiy Ahmed, Prime Minister of Ethiopia, Yoweri Museveni, President of Uganda, Olafur Ragnar Grimsson, former president of Iceland and chairman of Arctic Circle, Tiemoko Meyliet Kone, Vice President of Ivory Coast, and Dr Sultan Al Jaber, Minister of Industry and Advanced Technology. Photo: Presidential Court -
President Sheikh Mohamed presents the 2023 Zayed Sustainability Prize for East Asia & Pacific Global High Schools to a representative from Kamil Muslim College, Fiji. Photo: Presidential Court -
Kassym-Jomart Tokayev, President of Kazakhstan (L), and President Sheikh Mohamed present the 2023 Zayed Sustainability Prize for Americas Global High Schools, to a representative from Fundacion Bios Terrae in Colombia. Photo: Presidential Court -
(L-R) Sheikh Saif bin Zayed, UAE Deputy Prime Minister and Minister of Interior, Kim Keon Hee, first lady of South Korea, Yoon Suk Yeol, President of South Korea, President Sheikh Mohamed, Ilham Aliyev, President of Azerbaijan, Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of the Presidential Court, Joao Lourenco, President of Angola and Ana Dias Lourenco, first lady of Angola. Photo: Presidential Court -
Guests stand for the national anthem during the opening ceremony of Abu Dhabi Sustainability Week. Photo: Presidential Court -
Children sing the UAE national anthem . Photo: Presidential Court -
Dr Sultan Al Jaber, Cop28 President-designate and the UAE's special envoy on climate change, speaks at the opening of Abu Dhabi Sustainability Week. Khushnum Bhandari / The National -
Mr Yoon, a keynote speaker at Abu Dhabi Sustainability Week. Khushnum Bhandari / The National -
US climate envoy John Kerry, centre. Khushnum Bhandari / The National -
Azerbaijan’s President Ilham Aliyev. Khushnum Bhandari / The National -
From left, Phillip Cornell, senior fellow of Atlantic Council Global Energy Centre; Christian Bruch, president and chief executive officer of Siemens Energy; Lorenzo Simonelli, chairman, president and chief executive of Baker Hughes; and Marisa Drew, chief sustainability officer of Standard Chartered. Khushnum Bhandari / The National
