The UAE, which is hosting this year’s UN climate summit, plans a 25 percent increase in oil production capacity, to 5 million barrels a day by 2027. However, this should not come at the expense of efforts to reduce emissions and increase resilience to climate change.
The Gulf nation is collaborating with the energy sector to quicken the expansion of hydrogen, methane reduction, and carbon reduction. Sultan Al Jaber, the CEO of the UAE’s national oil company ADNOC, is overseeing expansion to produce oil and gas equivalent to 7.5 billion barrels of oil, according to new data, 90% of which would have to remain in the ground to meet the net zero scenarios set out by the International Energy Agency (IEA).
The UAE is putting money and effort into this framework to make the Climate Summit, which it is planning to hold in Dubai Expo City in November, a conference for implementation rather than merely pledges.
In light of the ongoing conflict in Ukraine, which resulted in an energy crisis that has hurt many of the world’s nations, the upcoming climate summit will take place in a context where many nations are breaking their climate commitments to provide energy security for their citizens.
According to data, the UAE is presently investing more than $50 billion in renewable energy projects in roughly 70 nations worldwide, and it is also getting ready to double this number by 2030.
Invitation to President El-Sisi
Egypt’s president Abdel Fattah El-Sisi was invited by his UAE counterpart, Sheikh Mohammed bin Zayed, to participate in COP28.
El-Sisi expressed his confidence in the UAE’s leadership in hosting the upcoming 28th session of COP28, citing their “outstanding” capabilities in the field.
The message stressed the importance of cooperation between Egypt and the UAE, particularly after Egypt successfully hosted COP27 last year in Sharm El-Sheikh.
UAE Ambassador to Egypt Maryam Khalifa Al-Kaabi handed the message to El-Sisi during a meeting on Tuesday in the presence of Egyptian Minister of Foreign Affairs Sameh Shoukry, read a statement by Egyptian Presidential Spokesman Ahmed Fahmy.
During the meeting, El-Sisi discussed transferring Egypt’s experience and expertise to the upcoming summit, emphasizing the need to take into account the concerns of developing African countries and supporting international climate action.