UAE calls for higher decarbonisation investment by GCC countries

Cop28 President-designate Dr Sultan Al Jaber says the bloc represents a model for multinational co-operation

Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, and Dr Thani Al Zeyoudi, Minister of State for Foreign Trade, at the meetings in Muscat. Photo: Ministry of Industry and Advanced TechnologyShow less

GCC countries should allocate more capital to their energy transition and decarbonisation strategies to bolster climate action and sustainable development, the UAE's Minister of Industry and Advanced Technology has said.

Addressing the GCC Industrial Co-operation Committee and GCC Ministerial Committee for Standardisation meetings in Muscat on Thursday, Dr Sultan Al Jaber said these investments would lay the groundwork for more sustainable economic development in vital sectors, including industry.

The UAE has developed a pioneering model to strengthen economic and developmental partnerships and engage the private sector in sustainable growth, he added.

Watch: Dr Sultan Al Jaber says this is the decade to provide clean energy the world needs

“As the UAE prepares to host Cop28, we stress the importance of fraternal co-operation to bolster climate action,” said Dr Al Jaber, who is also President-designate of the Cop28 summit that will be held in Dubai from November 30 to December 12.

“It is critical that countries in the Gulf work together to increase investments in the energy transition and in decarbonisation.”

Dr Al Jaber led a high-level UAE delegation at the meetings in Muscat, which were attended by GCC ministers of industry and trade.

Members of the delegation included Dr Thani Al Zeyoudi, Minister of State for Foreign Trade, Mohammed Al Dhaheri, UAE ambassador to Oman, Omar Al Suwaidi, undersecretary in the Ministry of Industry and Advanced Technology, and Abdulla Alsaleh, undersecretary in the Ministry of Economy, as well as officials and executives from government and private companies.

The 50th meeting of the Industrial Co-operation Committee and the fifth meeting of the Ministerial Committee for Standardisation addressed topics related to enhancing co-operation in industry, standards and metrology, and plans to boost collaboration among member states.

Oman is currently president of the GCC Council.

Dr Al Jaber underlined the UAE’s commitment to strengthening relations and co-operation with GCC countries to boost investment and promote sustainable economic growth.

The meetings reaffirm the deep relations among the GCC countries, especially in the industrial sector, which plays an important role in sustainable economic growth within the Gulf region, he said.

“The GCC represents a model for multinational co-operation that achieves effective sustainable economic development.”

Dr Sultan Al Jaber has previously called for developing nations to be given access to funding to ensure they are not priced out of pursuing climate goals.

Early this month, speaking at the Petersberg Climate Dialogue in Berlin, he said the Cop28 summit should deliver an action plan that engages the public and private sector to achieve transformational results.