UAE oil executive stresses energy companies’ support for 2050 net-zero goal

Sultan al-Jaber, president of COP28, announced on Monday that over 20 prominent oil and gas companies are heeding his call to address carbon emissions in preparation for an upcoming United Nations climate change summit.

Al-Jaber disclosed that more than 20 oil and gas firms have expressed their commitment to align with the goal of achieving net-zero emissions by 2050. Additionally, they are dedicated to the elimination of methane emissions and the cessation of routine flaring by 2030. Detailed plans were not provided during the announcement.

Sultan al-Jaber, who also serves as the head of the United Arab Emirates oil conglomerate ADNOC, has been actively advocating for the energy industry’s participation in combatting climate change throughout the year. His leadership of COP28, which is set to commence next month, has generated controversy due to his country’s membership in OPEC and its significant role as an oil exporter.

The COP28 summit is scheduled to convene in Dubai from November 30 to December 12.

As the world anticipates COP28, a stark divide persists among nations, with some pushing for a decisive agreement to phase out fossil fuels responsible for global warming, while others insist on maintaining coal, oil, and natural gas as integral energy sources.

The summit is widely regarded as a pivotal opportunity for governments to intensify efforts aimed at curbing global warming. Recent reports indicate that countries are falling short of fulfilling their commitments to restrict the global temperature increase to 1.5 degrees Celsius.

In preparation for COP28, top executives from major oil and gas companies convened with leaders from heavy industries in the UAE on Sunday to discuss a shared commitment to decarbonization.