Shantel
Key Takeaways:
- Dr. Sultan Al Jaber, COP28 President-Designate, emphasizes the need for a holistic ecosystem that connects policy, technology, finance, and people to drive climate action.
- During his visit to London for the London Climate Action Week 2023, Dr. Al Jaber collaborated with British stakeholders to develop policies, galvanize investors, and consult with youth climate advocates in shaping the COP28 agenda.
- Dr. Al Jaber calls for world leaders to deliver on climate finance reform and accelerate technology development to address the urgency of climate change.
Introduction
Dr. Sultan Al Jaber, the President-Designate for COP28, traveled to London during the London Climate Action Week 2023 to collaborate with British stakeholders in developing a holistic ecosystem that connects policy, technology, finance, and people. Recognizing the urgent need for action to combat climate change, Dr. Al Jaber engaged with the UK Government, investors, and youth climate advocates to accelerate progress in key areas and lay the foundation for meaningful change at COP28.
Collaborating with British Stakeholders
During his visit, Dr. Sultan Al Jaber met with a range of key stakeholders, including H.M King Charles III, government ministers, business leaders, university students, and young climate advocates. These discussions aimed to foster collaboration and identify areas for action in the fight against climate change.
Dr. Al Jaber attended a roundtable on climate solutions alongside H.M King Charles III, Sadiq Khan (Mayor of London), government ministers, university vice-chancellors, and CEOs of prominent companies. This gathering focused on finding innovative solutions that connect policy, technology, finance, and people to achieve the ambitious emission reduction targets necessary to combat climate change.
Urgency of Climate Finance Reform
During London Climate Action Week, Dr. Al Jaber stressed the importance of climate finance reform and the need to accelerate technology development to address the climate crisis effectively. He highlighted the lack of accessible and affordable climate finance, especially for countries in the Global South. Dr. Al Jaber expressed concern that less than 2 percent of the $1.5 trillion invested in clean tech finance went to vulnerable and low-income countries across the Global South.
To address this gap, Dr. Al Jaber called for a global partnership that includes the largest energy producers, industrial consumers, technology companies, entrepreneurs, the finance community, investors, governments, and civil society. He emphasized the need for a new approach and a departure from business as usual, stating, “We must stop talking and start delivering.”
A Holistic Ecosystem for Climate Action
Dr. Sultan Al Jaber emphasized the need for a holistic ecosystem that brings together policy, technology, finance, and people to drive climate action. He highlighted the importance of supportive policies that stimulate the adoption of clean energy and incentivize decarbonization. Rapid deployment of the latest technologies at scale is essential, and this requires significant capital investment, particularly in emerging and developing economies. Dr. Al Jaber stressed the critical role of capacity building and skills development to empower young people to contribute to the jobs of the future while addressing climate change and socio-economic opportunities simultaneously.
During his visit, Dr. Al Jaber held meetings with UK government ministers to discuss key initiatives and areas for collaboration ahead of COP28. These discussions focused on accelerating progress in areas such as clean energy adoption, decarbonization efforts, and inclusive climate action.
Youth Engagement and Inclusion
Recognizing the crucial role of young people in shaping the future and addressing climate challenges, Dr. Sultan Al Jaber engaged in a roundtable discussion with university students and young climate advocates. Hosted by H.E Shamma Al Mazrui, COP28 Youth Climate Champion, the consultation sought input from young people to shape the agenda at COP28 in a more inclusive and equitable manner.
Dr. Al Jaber called for the inclusion of youth perspectives and emphasized the need for their voices to be heard. He acknowledged that young people will inherit the challenges of climate change and play a significant role in providing solutions. Dr. Al Jaber urged young pioneers to set new benchmarks and bring their passion, focus, and courage to meet the climate challenge.
COP28 UAE and the Global Stocktake
COP28 UAE is scheduled to take place at Expo City Dubai from November 30 to December 12, 2023. This conference aims to convene over 70,000 participants, including heads of state, government officials, industry leaders, private sector representatives, academics, experts, youth, and non-state actors. COP28 UAE will deliver the first-ever Global Stocktake, a comprehensive evaluation of progress against climate goals as mandated by the Paris Climate Agreement. The conference will focus on accelerating progress through a pragmatic global energy transition and an inclusive approach to climate action.
Masdar’s Investment in the UK
Dr. Sultan Al Jaber, as chairman of Masdar, the UAE’s leading renewable energy company, visited Octopus Energy and discussed the latest technologies supporting renewable energy deployment, energy storage solutions, and energy efficiency measures. Masdar has committed to investing £1 billion in British battery storage after acquiring Arlington Energy, a UK-based battery energy storage system developer. The partnership between Masdar and Octopus Energy aims to manage a significant battery portfolio using Octopus’ groundbreaking technology platform, Kraken, which will help integrate more renewables onto the grid and drive down energy prices.
Conclusion
Dr. Sultan Al Jaber’s visit to London during the London Climate Action Week demonstrated his commitment to driving climate action and fostering collaboration between key stakeholders. By advocating for a holistic ecosystem that connects policy, technology, finance, and people, Dr. Al Jaber highlighted the importance of addressing climate change comprehensively. Through engagement with government officials, business leaders, and young climate advocates, Dr. Al Jaber seeks to accelerate progress, deliver climate finance reform, and promote technology development in preparation for COP28. The inclusive and equitable approach of COP28 UAE aims to involve youth perspectives and ensure their meaningful participation in shaping the global response to climate change.
