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COP28: Don’t need to wait for Global Stocktake to plan climate response, says Dr Sultan Al Jaber

The COP28 President-Designate also met young social entrepreneurs from M-KOPA — one of the past winners of the Zayed Sustainability Prize

The world doesn’t need to wait for the Global Stocktake to plan ways to fulfil climate goals of the Paris Agreement, Dr Sultan Al Jaber, COP28 President-Designate, said.

As mandated by the Paris Climate Agreement, COP28 UAE will deliver the first ever Global Stocktake – a comprehensive evaluation of progress made in limiting the global temperature increase to 1.5 degrees Celsius. At the climate conference to be held later this year in Dubai, the UAE will lead 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.

Dr Al Jaber stressed on laying a groundwork now for delivering tangible actions.

“We don't need to wait for the Global Stocktake to plan our response to the Global Stocktake. We must lay the groundwork now ─ preparing for the highest possible ambition in the negotiated outcomes. We must complement whatever is decided inside the negotiations with an equally powerful action agenda outside the negotiating rooms… in the real world,” Dr Al Jaber said while attending the Africa Energy Forum in Nairobi.

“First, we must recognise that the energy system of the future will not build itself. We need every country, every region, every part of society, including businesses, governments and NGOs, working together in solidarity, in a unified effort to make it happen,” he noted.

Climate finance reform

At the forum, Dr Al Jaber met William Ruto, President of Kenya, along with energy ministers and leaders from other African nations. He emphasised the importance of making climate finance more available, accessible, and affordable to enable countries in the continent to achieve their clean energy potential.

“Africa is rich in clean energy resources — including wind, solar, hydro and geothermal — giving it huge potential for low-carbon growth and sustainable development. Developing that potential will require political will, visionary ambition and lots of capital. The UAE has deployed over $12 billion in investments in renewable projects across Africa through public/private partnerships.”

In a joint statement with Dr Al Jaber, Ruto commended the UAE, its leadership and the COP Presidency on their long-standing support for sustainable development and climate action.

Kenya and COP28 will jointly champion actions to triple installed renewable energy capacity by 2030, and will cooperate on policy and scaling finance.

A joint working group has been launched through the Africa Climate Summit and COP28 to focus on a just energy transition and unlocking climate finance to accelerate green growth in Africa.

Clean energy investment in Africa represents only 2 per cent of what is invested globally and less than 10 per cent of the $120 billion a year that is the “baseline requirement”.

“As a first step, the long overdue 100-billion-dollar pledge needs to be fulfilled this year,” Dr Al Jaber said and reiterated the need for reform of international financial institutions (IFIs) and multilateral development banks (MDBs).

“And we need to end the rhetoric that puts a false division between North and South ─ that says that one region has all the answers, while another region is not equipped to contribute. The truth is some countries in the Global South are setting the pace.”

Dr Al Jaber hailed Kenya’s success in providing 80 per cent of its electricity from renewable energy sources. “That didn’t happen by accident,” he said. “It happened because visionary government policies combined with smart investments met practical-minded people of action.”

Separately, Dr Al Jaber met young social entrepreneurs from M-KOPA — one of the past winners of the Zayed Sustainability Prize and a company developing innovative financial products that are helping home-grown, clean tech businesses get off the ground.

The President-Designate highlighted the importance of small and medium-sized enterprises in creating technologies that create lasting positive change in vulnerable and remote communities, while helping to meet climate ambitions and keep 1.5 degrees within reach.

Since its founding in 2010, M-KOPA has reduced more than 2 million tonnes of carbon dioxide emissions, connected 400,000 first-time Internet users, and served over 3 million customers across sub-Saharan Africa. To achieve this, the company has built one of the world’s most advanced connected financing platforms, deploying $1 billion in credit to the financially excluded. The company has provided extensive training and employment, generating more than $180 million in extra income for its sales agents.

Dr Al Jaber also met former winner in the Prize’s Global High Schools category and current CEO of Mazi Mobility, Jesse Forrester, who updated the COP President-Designate on his e-mobility company, which operates a fleet of electric motorbikes and tuk-tuks.

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