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Search resuls for: "Sultan al Jaber"


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Jaber, who is also head of United Arab Emirates oil giant ADNOC, has this year urged the energy industry to join the fight against climate change. He was a controversial pick to lead COP28, which begins next month, because his country is an OPEC member and a major oil exporter. "We need a system-wide holistic transformation of entire economies - economies that currently run on the equivalent of 250 million barrels of oil, gas, and coal every single day," Jaber said at an oil and gas conference in Abu Dhabi. The COP28 summit is scheduled to take place in Dubai between Nov. 30 and Dec. 12. Major oil and gas company chiefs held meetings with heavy industry bosses on Sunday in the UAE to discuss a decarbonization commitment ahead of COP28.
Persons: Sultan Al Jaber, ABU, Sultan al, Jaber, it's, Maha El Dahan, Yousef Saba, Alexander Cornwell, Nadine Awadalla, Louise Heavens, Bernadette Baum Organizations: Africa Climate Summit, United Nations, United, United Arab Emirates, Thomson Locations: UAE, Africa, Nairobi, Kenya, ABU DHABI, United Arab, OPEC, Abu Dhabi, Dubai, COP28
China, the world's biggest fossil fuel consumer, is among those signalling that it intends to keep using them for decades. By inserting "unabated" before fossil fuels, the pledge targeted only fuels burned without emissions-capturing technology. "We cannot use it to green-light fossil fuel expansion," the countries said in a joint statement. We can't say we want to avoid 1.5 C ... and not say anything about phasing out fossil fuels," Cox said. The Alliance of Small Island States, whose members face climate-fuelled storms and land loss to rising seas, wants a fossil fuel phase-out and an end to the $7 trillion governments spend annually on subsidising fossil fuels.
Persons: Eduardo Munoz, General Antonio Guterres, Sultan Al Jaber, John Kerry, Teresa Ribera, Eamon Ryan, Ryan, Peter Cox, Cox, Fatih Birol, Valerie Volcovici, Kate Abnett, Katy Daigle, Emelia Organizations: U.S, REUTERS, United Nations General Assembly, United Arab Emirates, United, European Union, Reuters, Ireland's, American Petroleum Institute, University of Exeter, International Energy Agency, Rockefeller Foundation, Organization of, Petroleum, Small, States, United Nations, D.C, Thomson Locations: New York, New York City , New York, U.S, Dubai, China, United States, Saudi Arabia, Russia, France, Kenya, Chile, Colombia, Tuvalu, Vanuatu, Japan, Union, Washington, Brussels
Yet global emissions have continued to climb since 2015 when countries agreed to curb warming. Yet global emissions have kept growing since 2015, when nearly 200 countries struck the Paris Agreement aimed at averting the most catastrophic effects of a warming planet. There's also more willingness to name the main driver of climate change: fossil fuels. President Joe Biden didn't attend the Climate Ambition Summit and instead sent the nation's climate envoy, John Kerry. Salt Lake City Mayor Erin Mendenhall, Montreal Mayor Valérie Plante, and Paris Mayor Anne Hidalgo have headlined events.
Persons: execs, I've, General António Guterres, Alden Meyer, , Meyer, There's, Gavin Newsom, Sultan Al Jaber, Al Jaber, Al Jaber's, Joe Biden didn't, John Kerry, Biden would've, Erin Mendenhall, Montreal Mayor Valérie Plante, Paris Mayor Anne Hidalgo, Yvonne Aki Organizations: Service, United Nations, Ambition, California Gov, United Arab Emirates, Associated Press, UN, Montreal Mayor, Paris Mayor Locations: Wall, Silicon, New York City, Paris, China, India, Russia, Japan, Colombia, Panama, Brazil, California, Dubai, UAE's, UAE, Alaska, Salt Lake, COP28, Africa
CNN —In the eight years since the landmark Paris Climate Agreement, the world’s nations have not done enough to cut pollution and avert catastrophic levels of warming, according to the first United Nations scorecard since Paris, released on Friday. The planet has already warmed about 1.2 degrees above preindustrial levels; during this year’s summer of record heat, it hit 1.5 degrees above preindustrial levels. June to August was the planet’s warmest such period since records began in 1940, according to data from the European Union’s Copernicus Climate Change Service. While the UN report finds the Paris Agreement “has driven near-universal climate action” from each country and put a major focus on lowering emissions, the actions themselves from countries aren’t matching up to the crisis. “Against forecasts made prior to its adoption, the Paris Agreement has led to contributions that significantly reduce forecasts of future warming, yet the world is not on track to meet the long-term goals of the Paris Agreement,” the UN authors wrote.
Persons: , Dr, Sultan Al Jaber, ” Al Jaber, COP28, ” Tom Evans, ” Evans Organizations: CNN, United Nations, Paris, COP28, UN, United Locations: Paris, Dubai, United Arab Emirates
With the world far off track on its 2015 pledge to curb global warming, a new United Nations report central to upcoming climate negotiations details how quickly and deeply energy and financial systems must change to get back on a safer path. “The window of opportunity to secure a livable and sustainable for future for all is rapidly closing,” Friday's report warned. To get there, the report said, “the phase-out of unabated fossil fuels is required,” using a phrase international climate negotiators have shied away from before. “Halting and reversing deforestation” and adopting better crop-growing practices are critical to fighting climate change, the report said. Limiting warming to 1.5 degrees is another window of opportunity that is rapidly closing, the report said.
Persons: , Sultan Al Jaber, David Waskow, , Antonio Guterres, there's, Bill Hare, , Al Jaber, Tom Evans, ” Evans, Seth Borenstein Organizations: United, World Resources Institute, United Nations, World Meteorological Organization, Twitter, AP Locations: United Nations, India, Paris, Dubai
The report, culminating a two-year evaluation of the 2015 Paris climate agreement goals, distils thousands of submissions from experts, governments and campaigners. "The Paris Agreement has driven near-universal climate action by setting goals and sending signals to the world regarding the urgency of responding to the climate crisis," it said. "While action is proceeding, much more is needed now on all fronts." More than 20 gigatonnes of further CO2 reductions were needed this decade - and global net zero by 2050 - in order to meet the goals, the U.N. assessment said. Commitment was needed to phase out fossil fuels, set 2030 targets for renewable energy expansion, ensure the financial system funds climate action, and raise funds for adaptation and damage, he said.
Persons: Tom Evans, Sultan Al Jaber, U.N, Antonio Guterres, David Stanway, Andrew Cawthorne Organizations: United Nations, United Arab Emirates, Reuters, Thomson Locations: Dubai, Paris, UAE, Singapore, Berlin
UAE oil giant ADNOC — run by the president of the COP28 climate conference — is expected to spend more than $1 billion every month this decade on fossil fuels, according to new analysis by international NGO Global Witness. It comes ahead of the COP28 climate summit, with Dubai set to host the U.N.'s annual conference from Nov. 30 through to Dec. 12. The person overseeing the talks, Sultan al-Jaber, is chief executive of ADNOC (the Abu Dhabi National Oil Company) — one of the world's largest oil and gas firms. His position as both COP28 president and ADNOC CEO caused dismay among civil society groups and U.S. and EU lawmakers, although several government ministers have since defended his appointment. It means that ADNOC is forecast to spend nearly seven times more on fossil fuels through to 2030 than it does on "low-carbon solution" projects.
Persons: Sultan Al Jaber, Sultan al, Jaber Organizations: Abu Dhabi National Oil Company, UAE, Global, ADNOC, CNBC Locations: Abu Dhabi, Brussels, Dubai, Paris
Companies Climate FollowVitol SA FollowNAIROBI, Sept 4 (Reuters) - An initiative to boost Africa's carbon credit production 19-fold by 2030 drew hundreds of millions of dollars of pledges on Monday as Kenyan President William Ruto opened the continent's first climate summit. In one of the most anticipated deals, the United Arab Emirates (UAE) committed to buying $450 million of carbon credits from the Africa Carbon Markets Initiative (ACMI). "There hasn't been any success for an African country in attracting climate finance," said Bogolo Kenewendo, a United Nations climate adviser and former trade minister in Botswana. Many African campaigners have opposed the summit's approach to climate finance, and about 500 people marched in downtown Nairobi on Monday to protest. They say carbon credits are a pretext for continued pollution by wealthier countries and corporations, who should instead pay their "climate debt" through direct compensation and debt relief.
Persons: William Ruto, Ruto, Bogolo Kenewendo, Bogolo, Kevin Kariuki, Patricia Scotland, Esa Alexander, we've, Hassan Ghazali, Britain, Sultan Al Jaber, COP28, Duncan Miriri, Simon Jessop, Jefferson Kahinju, Aaron Ross, Hereward Holland, Angus MacSwan, Susan Fenton Organizations: United Arab Emirates, Africa Carbon Markets, United, African Development Bank, Reuters, International Monetary Fund, REUTERS, Climate Asset Management, HSBC Asset Management, Debt, Green, Thomson Locations: NAIROBI, UAE, Nairobi, Africa, United Nations, Botswana, Muloza, Mozambique, Blantyre, Malawi, Liberia, Tanzania, Germany, Kenya
The country has embarked on a major PR campaign to boost its green credentials ahead of the COP28 UN climate summit in Dubai later this year, prompting heavy criticism from climate groups and some politicians. The controversial road to COPThe climate summit takes place at a different location each year, with responsibility for hosting rotating among five regional groups. But the UAE stands out because of the way it chose to intertwine the summit with its oil business. In January, the UAE announced Sultan Al Jaber would be the summit president, to the horror of many climate groups. The country is “ideally suited to host” the summit, a spokesperson for the COP28 presidency told CNN.
Persons: , Jennie King, Sultan Al Jaber, Al Jaber, CNN Al Jaber “, Al Jaber’s, John Kerry, Frans Timmermans, , ” Al Jaber, It’s, it’s, Al, ADNOC, Marc Owen Jones, Hamad, Jones, King, Cop28, Kat Ainger, ” King Organizations: CNN, United, United Arab Emirates, Centre, Climate, Guardian, Institute for Strategic, Abu, Abu Dhabi National Oil Company, US, Associated Press, EU, Hamad bin Khalifa University, Twitter, UAE COP28, UAE Ministry of, Environment, UAE, US Justice Department, Corporate Locations: United Arab, Dubai, UAE, Katowice, Glasgow, Abu Dhabi, Al Jaber, Qatar, Paris, China, India,
But OPEC ministers and executives from oil companies told a two-day conference in Vienna governments needed to turn their attention from supply to demand. But record profits from oil and gas last year and relatively low returns from renewable energy prompted some investors to demand companies renew their focus on oil and gas to raise profits. DEMAND HITS RECORDMeanwhile, oil demand has reached new peaks of above 102 million barrels per day this year, recovering from a dip during the COVID-19 pandemic. It is expected to rise further, driven by strong demand from Asia and for petrochemical production, oil executives and analysts said. The oil industry has long said lower investment in oil and gas in the absence of a reduction in oil demand will only lead to higher prices.
Persons: Bernard Looney, Wael Sawan, Abu, Sultan al Jaber, Patrick Pouyanne, Jean Paul Prates, Prates, Amin Nasser, Dmitry Zhdannikov, Barbara Lewis Organizations: BP, of, Petroleum, Reuters, Bloomberg, Wall Street, Companies, Shell, BBC, Investments, Rystad Energy, Petrobras, PETR4, Saudi Aramco, Thomson Locations: Vienna, VIENNA, Ukraine, Asia, Abu Dhabi
CNN —The United Arab Emirates has invited Syrian President Bashar al-Assad to attend the United Nations’ COP28 Climate Summit, which will take place from November 30 in Dubai. The UAE embassy in Damascus said in a post on Twitter on Sunday that Assad had received an invitation to attend COP28 from Sheikh Mohamed bin Zayed Al Nahyan, president of the UAE and ruler of Abu Dhabi. If Assad attends, it would be his first global summit since the start of the country’s brutal civil war in 2011, and could cause diplomatic tensions for countries which continue to impose sanctions on his regime. A COP28 spokesperson told Reuters in a statement this week: “COP28 is committed to an inclusive COP process that produces transformational solutions. This can only happen if we have everyone in the room.”In March, Assad visited the UAE on an official invitation for the first time since the Syrian civil war began.
In March, European countries agreed to promote a global phase-out of fossil fuels in a text setting out their priorities for COP28. “The shift towards a climate neutral economy will require the global phase-out of unabated fossil fuels,” the text said. Al Jaber emphasized the role of technologies like carbon capture in reducing planet-heating pollution. “All indicators… are telling us that we are way off track,” said Al Jaber. We have to get out of fossil fuels, we have to dramatically reduce emissions.”“it is no longer about visions.
G7 vows to step up moves to renewable energy, zero carbon
  + stars: | 2023-04-16 | by ( ) www.cnbc.com   time to read: +6 min
Japan won endorsements from fellow G-7 countries for its own national strategy emphasizing so-called clean coal, hydrogen and nuclear energy to help ensure its energy security. The stipulation that countries rely on "predominantly" clean energy by 2035 leaves room for the continuation of fossil-fuel-fired power. The G-7 nations account for 40% of the world's economic activity and a quarter of global carbon emissions. The document crafted in Sapporo included significant amounts of nuance to allow for differences between the G-7 energy strategies, climate advocates said. "I think energy security is being exaggerated in some cases," Kerry said, pointing to Germany's progress in embracing renewable energy.
"The G7 countries have agreed that the first response to the energy crisis must be to reduce energy and gas consumption… For the first time ever, the G7 said that we must accelerate the phasing out of all unabated fossil fuels... The event has also put focus on the need to help emerging countries reduce emissions, including through financing. Nishimura said ministers would like to discuss ways to use finance to help reduce carbon in so-called "hard-to-abate" industries, which include chemicals, shipping and steel. "Developed countries first need to follow through on the $100 billion pledge they made to developing countries over a decade ago." G7 countries must exert "much stronger leadership" in leveraging financial and technology resources to help developing countries reduce emissions, Meyer said.
DUBAI, March 9 (Reuters) - Abu Dhabi announced a reshuffle at the top of its two biggest sovereign wealth funds on Thursday, appointing senior members of the royal family as chairmen. Sheikh Tahnoun bin Zayed Al Nahyan, one of the most powerful members of Abu Dhabi's royal family, was named chair of the Abu Dhabi Investment Authority (ADIA), among the world's largest sovereign wealth funds, the government's media office said. ADIA is estimated by Global SWF to manage $993 billion in assets, while the Sovereign Wealth Fund Institute puts the figure at $790 billion. The wealth fund's last chairman was the previous UAE president, Sheikh Khalifa bin Zayed Al Nahyan, who died last year. MORE NEWCOMERSThe UAE president is appointing his brothers as chairmen at state sovereign wealth funds rather than chairing them himself.
The OSOWOG initiative, first proposed by Indian Prime Minister Narendra Modi, aims to transfer renewable energy power through connecting grids. Singh said the UAE has also indicated it would like to invest more in India's renewable energy projects, including solar and wind. India and the UAE also signed a Memorandum of Understanding on Jan. 13 on green hydrogen development, produced using renewable energy, India's embassy in the UAE said on Twitter on Friday. "He (Jaber) is the point man for renewables, for climate change," the Indian minister said. Jaber is also the UAE's minister of industry and advanced technology and helped to establish Abu Dhabi's renewable energy firm Masdar in 2006.
Nowhere is this shift among climate activists more evident than in Germany, where Vice Chancellor Robert Habeck, the Green Party leader, is serving as the pragmatist-in-chief. Some climate activists were aghast this Thursday when the UAE named Sultan Al Jaber, the CEO of the Abu Dhabi National Oil Company (ADNOC), as president of this year's COP 28. Al Jaber, speaking to the Atlantic Council Global Energy Forum on Saturday, captured his ambition to drive faster and more transformative results at COP 28. "We are way off track," said Al Jaber. "We will work with the energy industry on accelerating the decarbonization, reducing methane, and expanding hydrogen," said Al Jaber.
Abu Dhabi CNN —As Western states try to wean themselves off their addiction to hydrocarbons, Gulf oil nations have been pushing back hard, warning that a hasty transition away from fossil fuels will be counterproductive. According to the World Bank, Qatar had the highest carbon emissions per capita as of 2019, followed by Kuwait, Bahrain, the United Arab Emirates and Saudi Arabia. So, investment in clean energy projects and renewables “makes very good business sense and PR sense for the Gulf,” he said. Gulf petro-states are warning against a quick transition away from hydrocarbons, with the UAE calling for a “mixed energy” approach that minimizes emissions without cutting hydrocarbons. Much of the hydrocarbons exported by Gulf states go to some of the world’s biggest consumers and polluters, including China and India.
ABU DHABI, Nov 1 (Reuters) - The United States and United Arab Emirates have reached an agreement to spend $100 billion on clean energy projects with a goal of adding 100 gigawatts globally by 2035, U.S. Secretary of State Antony Blinken said on Tuesday. The two governments signed a memorandum of understanding in Abu Dhabi setting out the framework of the deal, Blinken said in a statement. "This memorandum of understanding is an important step forward in our joint efforts to accelerate our collective movement toward clean energy," Blinken said. Under the initiative, the UAE, an OPEC oil producer, and the United States would provide technical, project management and funding assistance for commercially and environmentally sustainable energy projects in other countries. The statement said the partnership would "assemble and stimulate" private and public sector funding and support for clean energy innovation, carbon and methane management, advanced reactors including small modular reactors, and industrial and transport decarbonisation.
UAE and U.S. to spur $100 bln in clean energy projects - WAM
  + stars: | 2022-11-01 | by ( ) www.reuters.com   time to read: +1 min
ABU DHABI, Nov 1 (Reuters) - The United Arab Emirates and the United States have signed a partnership to spur $100 billion of investments in clean energy projects and add 100 gigawatts of clean energy globally by 2035, state news agency WAM reported on Tuesday. "Together, we will spur large-scale investment in new energy technologies, in our own countries, around the world and in emerging economies," U.S. energy envoy Amos Hochstein said a statement carried on WAM. The statement said the partnership would "assemble and stimulate" private and public sector funding and support for clean energy innovation, carbon and methane management, advanced reactors including small modular reactors, and industrial and transport decarbonisation. Under the initiative, the UAE, an OPEC oil producer, and the United States would provide technical, project management and funding assistance for commercially and environmentally sustainable energy projects in other countries. Reporting by Ahmed Tolba; Writing by Lina Najem and Ghaida Ghantous; Editing by Louise Heavens and Mark PotterOur Standards: The Thomson Reuters Trust Principles.
During previous oil booms, Gulf states were seen as squandering their wealth on wasteful and inefficient investments, building sprees and buying weapons, as well as handouts to citizens . Gulf states appear to be working on diversifying. Since the last oil boom that ended in 2014, four of the six Gulf states have introduced value-added tax and the UAE has gone further by starting a corporate income levy . None of the Gulf states have an income tax. Critics counter that it is in the oil exporters' interest to push that narrative, but oil states have pointed to the rise in crude demand that coincided with the removal of Covid-19 restrictions around the world.
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