Dr Sultan Al Jaber rings NYSE bell and unveils Cop28 programme for local leaders

Cop28 President-designate became first head of Cop to ring NYSE bell

UAE's Dr Sultan Al Jaber rings NYSE bell to open trading

UAE's Dr Sultan Al Jaber rings NYSE bell to open trading
Powered by automated translation

Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Cop28 President-designate, was welcomed to the New York Stock Exchange to ring the market's opening bell on Tuesday.

After the event, he and the city's former mayor Michael Bloomberg unveiled a new programme for local leaders that will take place during this year's climate summit in the UAE.

Standing alongside other UAE officials, Dr Al Jaber hit the button to sound the famous opening clangs on the world's best-known stock exchange.

Mr Bloomberg, who is a UN special envoy on climate ambition, and Dr Al Jaber then unveiled the Cop28 Local Climate Action Summit, which will take place in Dubai from December 1-2.

The event will aim to bring together hundreds of subnational climate leaders – mayors, governors, businesses, non-government organisations, a statement said, as they are “increasingly critical in helping national governments reach emissions reduction targets and net-zero ambitions while building resilient and future-proof economies and societies”.

“Cities are where the climate battle will largely be won or lost,” UN Secretary General Antonio Guterres has said.

“We all need to push further and faster; keep collaborating, innovating and raising ambition.

"Mobilising and equipping local governments with the capacity and financing to accelerate climate action is necessary if we are to bend the emissions curve."

Dr Al Jaber said: "City leaders have been at the forefront of climate action – accelerating ambition, delivering results and dealing with climate impacts in real time."

By bringing hundreds of local leaders to Cop28, the event will “will foster new, multilevel partnerships to help fast track the energy transition, fix climate finance, focus on people, lives and livelihoods, and make sure local voices are heard at the international climate table”, he added.

The Cop28 President-designate and Mr Bloomberg will be joined by a robust council of local and global climate leaders to ensure strong multilevel partnerships at and following the event, the statement said.

While political leaders and celebrities are occasionally invited to ring the bell, the honour is typically reserved for companies listed on the exchange that want to commemorate a milestone such as an initial public offering.

The NYSE also occasionally extends bell-ringing opportunities to non-profit organisations.

Dr Al Jaber is the first Cop president-designate to open the stock exchange.

Cop28 will take place in Dubai from November 30 to December 12.

Updated: September 19, 2023, 6:19 PM