Cop28 in the UAE will be the most significant climate conference event since Paris, when countries pledged to limit global warming to 1.5°C above pre-industrial levels, the event's director general said on Thursday.
Majid Al Suwaidi said the Emirates would make inclusivity the hallmark of its presidency as “we need everyone to address climate change”.
“Cop28 is going to be a landmark Cop because the UAE is highly ambitious about making the moment count. And that is not just about the formal text that gets negotiated at the end,” he said.
We knew that stepping into the spotlight would draw criticism. The question on many minds is, why are we doing it?
Majid Al Suwaidi,
director-general of Cop28
He added that Cop21, where the Paris Agreement was adopted by 196 parties in 2015, was a milestone because, for the first time, all countries in the world agreed to set targets for cutting emissions.
“But we knew at the time those targets wouldn’t be enough to get us where we need to be, so we built into the agreement a mechanism to come back in five years to take stock and to raise ambition, he continued.
“That is what is mandated to happen for the first time at Cop28 UAE.”
Positive story to tell
Mr Al Suwaidi was delivering his keynote address at the Countdown to Cop27 event held at Jumeirah at Saadiyat Island Resort — jointly organised by The Economist and First Abu Dhabi Bank.
He said the decision to bid for Cop28, which will be held at Expo City Dubai, was driven by the “positive story” that the UAE has to tell about the benefits of embracing climate change.
“We knew that stepping into the spotlight would draw criticism. The question on many minds is, why are we doing it?” he said.
“First, because climate action is something the UAE really cares about. The UAE leadership recognised the risks of inaction on climate change.”
He added that the UAE is ahead of its time in embracing the economic potential of action on climate change.
“The global employment in renewables reached 12.7 million jobs last year, with predictions of 40 million jobs worldwide by 2030 and 122 million by 2050,” Mr Al Suwaidi said, citing recent data from the International Renewable Energy Agency.
The UAE was the first country in the region to adopt the Paris climate change action mandate and also the first to declare a target of net zero by 2050.
He said the UAE is taking on the presidency because “we believe we have the expertise to make a real difference”.
As an energy-exporting nation, he said the UAE understands the realities of what it is going to take to get to net zero.
Mr Al Suwaidi said there is a need to get the developing world to transition to clean energy as soon as possible.
“Leading by example, the UAE has provided over $1.5 billion of aid for renewable energy projects in more than 40 developing countries,” he said.
The UAE has led the way in the region by building three of the largest solar plants: the Mohammed bin Rashid Al Maktoum Solar Park is the largest single-site solar park in the world and will be able to generate 5,000 megawatts by 2030. The $600 million Shams 1 is the largest concentrated solar power plant outside the US.
“We are an early pioneer in the emerging hydrogen market. We have established the first nuclear plant in the region,” said Mr Al Suwaidi.
The UAE is also one the world’s largest international investors in renewable energy projects — with a total spending of $50bn in 70 countries to date and with another $50bn to invest by 2030, he pointed out.
He said the UAE wanted to host Cop28 because it is well placed to bring people together and build global consensus.
“Here in the UAE, we have been big believers in the international system,” he said.
The UAE will work hard next year to build consensus, create coalitions and bring people together before it welcomes the world to Expo City Dubai.
First-round leaderbaord
-5 C Conners (Can)
-3 B Koepka (US), K Bradley (US), V Hovland (Nor), A Wise (US), S Horsfield (Eng), C Davis (Aus);
-2 C Morikawa (US), M Laird (Sco), C Tringale (US)
Selected others: -1 P Casey (Eng), R Fowler (US), T Hatton (Eng)
Level B DeChambeau (US), J Rose (Eng)
1 L Westwood (Eng), J Spieth (US)
3 R McIlroy (NI)
4 D Johnson (US)
The specs: 2018 Audi RS5
Price, base: Dh359,200
Engine: 2.9L twin-turbo V6
Transmission: Eight-speed automatic
Power: 450hp at 5,700rpm
Torque: 600Nm at 1,900rpm
Fuel economy, combined: 8.7L / 100km
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
ZAYED SUSTAINABILITY PRIZE
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
WWE Evolution results
- Trish Stratus and Lita beat Alicia Fox and Mickie James in a tag match
- Nia Jax won a battle royal, eliminating Ember Moon last to win
- Toni Storm beat Io Shirai to win the Mae Young Classic
- Natalya, Sasha Banks and Bayley beat The Riott Squad in a six-woman tag match
- Shayna Baszler won the NXT Women’s title by defeating Kairi Sane
- Becky Lynch retained the SmackDown Women’s Championship against Charlotte Flair in a Last Woman Standing match
- Ronda Rousey retained the Raw Women’s title by beating Nikki Bella
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