On February 7, Dr. Jaber spoke at the India Energy Week 2023 in Bangalore, noting that the energy transition would necessitate collaboration from all segments of society. "The world still requires hydrocarbons and will require them to bridge the gap from the current energy system to the new one. We cannot unplug the current energy system until the new one is built."
"As a result, we must reduce their carbon footprint by investing only in the least carbon-intensive barrels and continuing to reduce their intensity," Dr. Sultan Al Jaber said. Jaber described India's goal of 500GW of clean energy by 2030 as ambitious but achievable. He went on to say that the UAE was ready, willing, and able to collaborate with India. Over the last two decades, we have worked to diversify our energy portfolio.
"We've invested in nuclear, we're investing in hydrogen, and we're aiming to increase our global renewable energy footprint to 100 GW by 2030. And we need everyone to join us on this journey so that we can triple global renewable energy capacity in the next seven years," said Dr Sultan Al Jaber. When it comes to the energy transition, Jaber believes it has the potential to generate the greatest economic boom since the first industrial revolution.
But it must be equitable. "When it comes to the Global South, they have seen little justice so far. We must confront this issue head on. Previous global climate finance pledges have come at a cost, or not at all...We need to provide more concessional financing to vulnerable communities around the world in order to reduce risk, attract more private capital, and turn billions into trillions," he added.
According to Jaber, this is the decade to stop deliberating and start delivering on mitigation, adaptation, climate finance, and loss and damage. "In order to achieve an inclusive energy transition, we must empower the Global South, where nearly 800 million people lack access to electricity. We must eliminate energy poverty while keeping 1.5 billion people alive. And we must shift from discussing goals to completing tasks."
"Pragmatism and meaningful dialogue must be at the leading edge of our progress. As a global crossroads nation, the UAE is well-positioned to build bridges, foster consensus, and bring the world together in a single shared mission to keep 1.5C alive and protect the planet for future generations," he added.
