Dr. Sultan Ahmed Al Jaber, Minister of industry and advanced technology and president of cop28, stressed that in line with the vision of the leadership in the UAE, the presidency of the conference is keen to activate the participation of all sectors in the efforts of global climate action to build a better future for humanity and the planet and ensure economic prosperity for all.
This came on the occasion of the launch of the cop28 presidency and the kingdom of Saudi Arabia, on Sunday, the “pact to reduce emissions of the oil and gas sector,” a global pact aimed at accelerating and expanding the scope of climate action in industrial sectors.
To date, the Charter has been signed by 50 companies representing more than 40% of global oil production, and national oil companies account for more than 60% of them, which is the largest number of national oil companies committed to an initiative to reduce emissions.
Dr. Sultan Ahmed Al Jaber welcomed the launch of the Charter, describing it as an important first step and a pioneering initiative that sees a large number of national oil companies joining the climate neutrality 2050 initiative for the first time, and stressed the need for all companies in the sector to build on this step and intensify their efforts to maintain the possibility of avoiding exceeding the global temperature rise of 1.5 degrees Celsius, and set more ambitious targets to reach climate neutrality.
He pointed to the commitment of the presidency of the “cop28” to include everyone and follow the highest standards of transparency, and the need for concerted efforts of all companies and sectors in the required work and adopt a positive practical mindset with a focus on reducing emissions and applying the principles of supervision and follow-up to achieve tangible progress in climate action.He stressed the keenness of the presidency of the conference to present a clear action plan for the oil and gas sector to reach the desired climate goals, and the signatories of the Charter are committed to following a set of procedures in their operational operations with the aim of reaching climate neutrality by 2050 or earlier, eliminating methane emissions, and stopping gas burning by 2030.
The companies that joined the pact agreed to continue to follow the global best practices in the sector to reduce emissions, take a number of key measures that include investing in the future energy system, including renewable energy sources and low-carbon fuels, enhancing cooperation and following the principles of transparency, monitoring and independently verifying greenhouse gas emissions, assessing progress made to reduce emissions, adopting global best practices to accelerate the process of reducing operational The world.
