Dr. Sultan bin Ahmed Al Jaber, UAE minister of Industry and Advanced Technology and COP28 President, emphasized that Nationally Determined Contributions (NDCs) should be viewed as an opportunity for socioeconomic development. He urged Parties to prepare a third round of NDCs that would address the urgency of the moment and serve as a comprehensive response plan aligned with the UAE Consensus.
Avenues for economic development
At a high-level COP Presidencies Troika event during the UN General Assembly in New York, Dr. Al Jaber remarked that Parties should consider their NDCs not as a burden, but as avenues for economic growth, green jobs, and a sustainable future.
Dr. Al Jaber, WAM reported, stated that the UAE Consensus had provided a roadmap for transformation and that it was imperative to put it into action at the ‘Roadmap to Mission 1.5: NDC 3.0’ event. The COP Presidencies Troika, which represents a unique collaboration between the COP presidencies of the UAE, Azerbaijan, and Brazil, aims to inspire the highest level of ambition in the forthcoming NDCs.
COP28 President Dr. Sultan Al Jaber called on Parties to view NDCs not as a “burden” but as a platform for growth, green jobs and a cleaner future. If done right, he added, they can leverage the opportunities presented by three megatrends: the energy transition, the exponential… pic.twitter.com/mquZvqrbxS
— COP28 UAE (@COP28_UAE) September 26, 2024
Building momentum for NDCs
While Parties are required to submit their next round of NDCs by February 2025, Dr. Al Jaber encouraged earlier submissions to build momentum. He announced that the UAE plans to submit its third NDC before COP29, scheduled to take place in Azerbaijan from November 11 to 22.
Proactive engagement from Parties
Furthermore, Dr. Al Jaber urged all Parties to be proactive and provide clear signals regarding their NDCs by or before COP29 to foster momentum during this crucial decade of action. Dr. Al Jaber also expressed the need to create transformational NDCs supported by substantial investments that would fulfill the UAE Consensus mandate, thereby ushering in a new era of sustainable socioeconomic growth that keeps the 1.5°C goal within reach, enhances prosperity, and leaves no one behind.
Comprehensive coverage of NDCs
The UAE’s NDC is set to encompass all greenhouse gases and sectors of the economy, including energy, industry, transportation, and waste. Dr. Al Jaber noted that it will incorporate cutting-edge technologies, such as AI, to promote decarbonization and improve adaptive resilience in food, health, and early warning systems. Additionally, it will support all initiatives with a strong legal framework to hold each sector accountable to specific, time-bound objectives.
Leveraging global megatrends
Dr. Al Jaber urged all Parties to recognize that a well-crafted next round of NDCs could capitalize on three global megatrends: the energy transition, the rise of AI, and the growth of emerging markets and the Global South.
He highlighted the UAE’s leadership in diversifying its energy mix, noting that its renewable energy capacity has more than doubled since 2019 and is on track to triple by 2030.
Progress of the Oil & Gas Decarbonization Charter
Additioanly, Dr. Al Jaber pointed out the progress of the Oil & Gas Decarbonization Charter (OGDC), which has expanded to 54 members, representing 43 percent of global oil production. For nations wanting to incentivize industrial sectors in their NDCs, the OGDC exemplifies how inclusive engagement can yield meaningful outcomes.
The need for financial consensus
The COP28 President stressed the necessity of reaching consensus on a New Collective Quantified Goal (NCQG) for finance at COP29 to ensure that funding is directed to where it is most needed.
Financing is crucial for realizing ambitious 1.5°C-aligned NDCs and ensuring sufficient climate finance for both adaptation and mitigation efforts.
Successful models for green investment
Moreover, Dr. Al Jaber cited successful initiatives like the Africa Green Investment Initiative, which is investing $4.5 billion in renewable energy projects throughout Africa, and ALTÉRRA, the climate investment fund launched at COP28, which has already mobilized $6.5 billion with investors. He suggested these models could and should be replicated to enable large-scale green industrialization and clean growth.
Raising ambition through collaboration
To elevate ambition for the forthcoming NDCs, the COP Presidencies Troika has initiated an Action and Ambition Majlis series, convening countries at events such as the Petersberg Climate Dialogue in Germany and the Ministerial on Climate Action in Wuhan, China.
In its most recent Letter to Parties, the COP Presidencies Troika urged Parties to enhance their ambition in the next generation of NDCs as a means of implementing universally accepted climate commitments. The ability to maintain the 1.5°C target and global resilience will hinge on the resolve of Parties and other stakeholders to act decisively at this pivotal moment and create the necessary enabling conditions for effective implementation.
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