His Excellency Dr. Minister of Industry and Advanced Technology and President-designate of COP28. Sultan bin Ahmed Al Jaber affirmed that the UAE is working in accordance with the leadership’s vision and direction that paves the way for stability and sustainability. An inclusive resilient future through COP28. His Excellency renewed the call for the development of climate finance mechanisms and international financial institutions, emphasizing the commitment of the COP28 leadership to effectively and practically achieve concrete results on the financing issue.
77 and came in a televised speech today as he participated in a meeting of ministers and apex bodies for environment, science, technology and innovation on China’s sustainable, climate-resilient development. The capital of Cuba is Havana.
Dr. Sultan Ahmed Al Jaber said the 77-member group represents 80 percent of the world’s population and provides a fundamental platform that allows countries of the Global South to express their unified vision on the critical issue of climate change. This vision is now even more important in light of the dire consequences of climate change in countries of the Global South.
He pointed out that COP28 will present an ambitious plan that will meet the needs of the countries of the Global South and achieve concrete results, accelerating a logical, practical and fair transition in energy. He said the world must ensure energy security and access by gradually reducing the use of conventional fuels, as the sector aims to triple the production capacity of renewable energy, double hydrogen production and increase energy efficiency. A reasonable cost, coupled with achieving sustainable economic and social development.
He explained that COP28 will present an action plan that restores momentum in all four pillars of climate action: mitigation, adaptation, financing and losses and damages, indicating that the world needs to double funding for “adaptation” to 40 billion dollars. and establishing an effective global early warning system based on best practices.
He stressed that the lack of funding is the biggest obstacle to the success of climate action, and the COP28 leadership is committed to achieving positive results that promise to effectively address this issue.
“There are encouraging signs that donor countries are close to fulfilling their pledge of $100 billion in climate finance to countries in the Global South,” he stressed, explaining that international financial institutions and multilateral development banks are currently not quick to issue concessional loans. Adequate, and it should provide more climate finance, and provide access to it on easier terms and at a fairer price, noting that COP28 will work to reduce the level of risks and stimulate the private sector to commit trillions of dollars to climate. Finance.
He said COP28 will focus for the first time in Conferences of the Parties on addressing the impacts of climate change on livelihoods through issues of food, health and nature. He also noted the importance of the Group of 77’s unified stance at COP27, which played a decisive role in reaching a historic decision on the “loss and damages” issue, expressing his confidence in the capacity of the Group’s countries. At 77, it calls on the Group to take advantage of this important role in all priority areas, to take a unified position and to join hands during the negotiations, explaining that COP28 will be the first COP to host a summit of the Group of 77. This opportunity to achieve ambitious results and quick action.
Honorable Dr. Sultan Al-Jaber said that the COP28 Conference of Parties should support the efforts of the Group of 77 to unite and respond to global outcomes to assess progress in achieving the goals of the Paris Agreement. A bold and ambitious action plan that guarantees a quantum leap, achieving the global goal in adaptation and accelerating change. Logical, practical, balanced and fair energy sector, and determining the amount and scope of necessary climate finance to achieve concrete and realistic results.
“Let us work together towards a sustainable and climate-resilient future that includes everyone,” he concluded his speech with an open call to unite efforts and focus on work and achievement.
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