The UAE Minister of Industry and Advanced Technology Sultan Al Jaber addressed delegates on the second day of the World Government Summit (WGS) in Dubai. “We need to triple renewable energy capacity, double hydrogen production,” he said.
“The hard reality is that global emissions must fall 43 percent by 2030. That’s just seven years away,” the President-designate of COP 28 said.
“We need a major course correction,” he told an audience, urging that “we need to shift from implemental steps to transformational progress.
“We need to triple renewable energy capacity, double hydrogen production,” he noted.
COP 28 will be the first global stocktake of climate action since the Paris Agreement of 2015 – but “we already know that we are way off track, we know we are playing catch up” on halting rising temperatures, he said.
COP 28 must bring together every nation, and everyone in those nations, if action is to be realized, he said.
Al Jaber said: “We will mobilize every segment of society. We are listening to everyone and engaging with everyone. We want COP 28 UAE to be remembered for uniting everyone in action. Let’s unite in solidarity for the sake of humanity.”
Read more: WGS in Dubai to discuss a better future for humanity
$1 trillion
Makhtar Diop, Managing Director of the International Finance Corporation (IFC), called on world leaders and heads of government to cooperate in making direct investments to overcome climate issues.
Speaking on the first day of the World Government Summit (WGS) 2023, Diop said: “The challenge lies in the management of financial resources, estimating the world needs about $9 trillion of investment annually to tackle climate action and about $1 trillion annually to exert energy transition in many countries.”
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