Sultan Al Jaber launches at COP28، the Global Decarbonization Accelerator to boost clean energy
Dr. Sultan Al Jaber، COP28 President، announced today new initiative under the name of the Global Decarbonization Accelerator (GDA)، a series of landmark initiatives designed to speed up the energy transition and drastically reduce global emissions as well as to bolster clean energy and to wean off fossil fuels at the U.N. climate summit in Dubai، UAE، where countries are grappling with how to halt the non-stop rise in planet-warming emissions.
Global Decarbonization Accelerator (GDA) is a comprehensive plan
Dr. Sultan Al Jaber، COP28 President، confirmed that the Global Decarbonization Accelerator (GDA) is a comprehensive plan for system-wide change، addressing the demand and the supply of energy at the same time and adds up to more countries and more companies from more sectors than ever before، all aligning with our North Star of 1.5C.
Dr. Sultan Al Jaber، COP28 President unveiled، at the World Climate Action Summit، the Global Decarbonization Accelerator (GDA)، is focused on three key pillars: rapidly scaling the energy system of tomorrow; decarbonizing the energy system of today; and targeting methane and other non-CO2 greenhouse gases (GHGs).
GDA is a comprehensive initiative for system wide change
Dr. Sultan Al Jaber، COP28 President assured، at the World Climate Action Summit، that the Global Decarbonization Accelerator (GDA) is a comprehensive plan for system wide change، and has been informed by the thinking of key stakeholders، including the international organisations، governments and policy makers، NGOs، and CEOs from every industrial sector.
Dr. Sultan Al Jaber، COP28 President، comments at the World Climate Action Summit، on the launch of the Global Decarbonization Accelerator (GDA) by saying that the world does not work without energy، yet the world will break down if we do not fix energies we use today، mitigate their emissions at a gigaton scale، and rapidly transition to zero carbon alternatives and that is why the COP28 Presidency has launched this landmark initiative.
Global Renewables and Energy Efficiency Pledge signed by116 countries
Dr. Sultan Al Jaber، COP28 President، revealed، at the World Climate Action Summit، that116 countries have signed the Global Renewables and Energy Efficiency Pledge as of today to rapidly scaling the energy system of tomorrow، agreeing to triple worldwide installed renewable energy generation capacity to at least 11 thousand gigawatts and to double the global average annual rate of energy efficiency improvements to more than % 4 by 2030.
Dr. Sultan Al Jaber، COP28 President، indicated، at the World Climate Action Summit، that 27 countries have agreed through the UAE Hydrogen Declaration of Intent، to endorse a global certification standard and to recognize existing certification schemes، helping to unlock global trade in low-carbon hydrogen to increase actions aligned with the aims of the Paris Agreement and to decarbonize the energy system of today.
OGDC signed by 50 companies، representing over % 40 of global oil production
Dr. Sultan Al Jaber، COP28 President، stated that 50 companies، representing over % 40 of global oil production have signed on to the Oil and Gas Decarbonization Charter (OGDC)، under the GDA، committing to zero methane emissions and ending routine flaring by 2030، as well as to total net-zero operations by 2050 at the latest.
Dr. Sultan Al Jaber، COP28 President، added that over 29 National Oil Companies (NOCs) have committed to the Charter – the largest ever number of NOCs to sign up to a decarbonization pledge as the OGDC is an important step towards acheiving the aims of the Paris Agreement.
Signatories agree to target a number of key actions
He explained that signatories to the Charter agree to target a number of key actions، including: investing in the energy system of the future including renewables، low-carbon fuels and negative emissions technologies، increasing transparency، including enhancing measurement، monitoring، reporting and independent verification of GHG emissions and their performance and progress in reducing emissions.
The signatories to the Charter agree also to enhanse alignment with broader industry best practices to accelerate decarbonization of operations، aspire to implement current best practices by 2030 to collectively reduce emission intensity، as well as reducing energy poverty and provide secure and affordable energy to support the development of all economies.
The GDA includes the launch of the Industrial Transition Accelerator (ITA)
The GDA also includes the launch of the Industrial Transition Accelerator (ITA)، which will accelerate decarbonization across key heavy-emitting sectors، and encourage policymakers، technical experts and financial backers to work hand-in-hand with industries to unlock investment and rapidly scale the implementation and delivery of emissions-reduction projects، according to Dr. Sultan Al Jaber، COP28 President.
Dr. Sultan Al Jaber، COP28 President، announc، at the World Climate Action Summit، that the ITA Secretariat will be hosted by the Mission Possible Partnership (MPP) under the leadership of the COP28 Presidency، UNFCCC، and Bloomberg Philanthropies.
The third pillar of the GDA
He noted that methane and other non-CO2 greenhouse gases، the third pillar of the GDA، will be addressed through economy-wide methane-emission reduction and more than $1 billion will be mobilized for methane abatement projects، with additional information to be released on 5 December at the COP28 Energy Thematic Day.
He added that the GDA also covers the Global Cooling Pledge، which targets substantially reducing global cooling emissions by % 68 by 2050 as such emissions account for % 7 of the global total، a figure expected to triple as more nations adopt air-conditioning، however، as of today، 52 countries have signed the Pledge.
Various challenges have slowed down the energy transition
Dr. Al Jaber said that the GDA represents an inflection point for addressing various challenges that to date have slowed down the energy transition and each initiative is underpinned by ongoing accountability frameworks to ensure that the commitments made، are commitments delivered but in his closing remarks، he was optimistic، affirming that The GDA adds up to more countries and more companies from more sectors than ever before، all aligning with the North Star of 1.5C.
Signatories to Oil and Gas Decarbonization Charter
NOCs: ADNOC، Bapco Energies، Ecopetrol، EGAS، Equinor، GOGC، INPEX Corporation، KazMunaiGas، Mari Petroleum، Namcor، National Oil Company of Libya، Nilepet، NNPC، OGDC، ONGC، Pakistan Petroleum Limited (PPL)، Pertamina، Petoro، Petrobras، Petroleum Development Oman، Petronas، PTTEP، Saudi Aramco، SNOC، SOCAR، Sonangol، Uzbekneftegaz، ZhenHua Oil، YPF.
IOCs: Azule Energy، BP، Cepsa، COSMO Energy، Crescent Petroleum، Dolphin Energy Limited، Energean Oil & Gas، Eni، EQT Corporation، Exxonmobil، ITOCHU، LUKOIL، Mitsui & Co، Oando plc، Occidental Petroleum، OMV، Puma Energy (Trafigura)، Repsol، Shell، TotalEnergies، Woodside Energy Group.
More information about COP28 UAE
COP28 UAE is taking place at Expo City Dubai from November 30-December 12، 2023، the Conference is expected to convene over 70 thousand participants، including heads of state، government officials، international industry leaders، private sector representatives، academics، experts، youth، and non-state actors.
As mandated by the Paris Climate Agreement، COP28 UAE is delivering the first ever Global Stocktake، a comprehensive evaluation of progress against climate goals.
All parties to agree upon a clear roadmap
The UAE is leading a process for all parties to agree upon a clear roadmap to accelerate progress through a pragmatic global energy transition and a “leave no one behind” approach to inclusive climate action.
In one of the most widely supported initiatives، 118 governments pledged to triple the world's renewable energy capacity by 2030 at the U.N.'s COP28 climate summit، as a route to cut the share of fossil fuels in the world's energy production as the pledge led by the European Union، United States and UAE، aims to triple renewable energy، help remove CO2-emitting fossil fuels from the world's energy system by 2050 at the latest، decarbonise the energy sector، source of around 75% of global greenhouse gas emissions، and expand nuclear power، as well as cut methane emissions and choke off private finance for coal power.
