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Tag: Dr. Sultan Al Jaber

  • COP28 launches ‘The COP Presidencies Troika’

    COP28 launches ‘The COP Presidencies Troika’

    COP28 has launched a partnership with Azerbaijan and Brazil, who will host COP29 and COP30 respectively, to improve cooperation and continuity between current and future COP Presidencies, leading to increased climate action in support of ‘Mission 1.5°C’.

    The partnership, known as The COP Presidencies Troika, marks the first time that a current COP Presidency has been formally mandated to unite with two future presidencies to foster international cooperation to stimulate ambition.

    COP28 President Dr. Sultan Al Jaber emphasized the importance of this partnership, stating, “The Troika represents critical and unprecedented collaboration to maintain momentum, lock in continuity and anchor implementation.”

    The Troika, which means group of three, will help to ensure the delivery of the Presidencies’ collective responsibilities and support of global priorities, which in turn will transform agreement into action by government and non-government stakeholders.

    Speaking at the launch of the Troika, held in Expo City Dubai, COP28 President Dr. Sultan Al Jaber said: “COP28 delivered a different, groundbreaking COP, that culminated in The UAE Consensus. At COP28, Parties mobilized behind historic climate action through both the negotiations and their commitments to the Presidential Action Agenda. The Troika helps ensure we have the collaboration and continuity required to keep the North Star of 1.5°C in sight—from Baku to Belém and beyond. The breakthroughs we all achieved at COP28 must carry forward to COP29 and 30—in ambitious nationally determined contributions, climate finance follow through, and accelerated implementation.”

    An agreement for the three Presidencies to work together on a ‘Roadmap to Mission 1.5°C’ was mandated by the UAE Consensus. Supported by all 198 Parties, this agreement must now be actioned under the COP Presidencies Troika.

    The agreement states that the partnership will “significantly enhance international cooperation and the international enabling environment to stimulate ambition in the next round of nationally determined contributions, with a view to enhancing action and implementation over this critical decade and keeping 1.5°C within reach.”

    Dr. Al Jaber said: “The UAE Consensus included a clear mandate for the three Presidencies—the UAE, Azerbaijan and Brazil—to cooperate on the ‘Roadmap to Mission 1.5°C’. We will be working together through the COP Presidencies Troika, with our friends in Baku and Brazil, to ensure that promises made in Dubai are fulfilled through closer, focused partnerships and credible support to enable delivery. Together we ensure that new agreements forged at the next COP set us on the path we need to achieve our mission.”

    COP29, in Baku, Azerbaijan, is expected to agree on a New Collective Quantified Goal (NCQG) on climate finance to respond to the needs and priorities of developing countries. The adoption of the NCQG will constitute the most significant climate finance milestone since the 2009 commitment by developed countries to a goal of mobilizing jointly USD $100 billion a year by 2020 to address the needs of developing countries.

    Building on both the UAE Consensus and the outcomes of Baku, at COP30 in Brazil, the Troika’s laser focus on the 2025 Nationally Determined Contributions (NDCs) round will ensure that countries’ individual commitments deliver ambitious climate action. This will accelerate the global collective ability to meet the Paris goals in the context of sustainable development and efforts to eradicate poverty.

    COP29 President-Designate Mukhtar Babayev, Azerbaijan’s Minister for Ecology and Natural Resources, joined Dr. Al Jaber, and highlighted: “We are committed to leveraging our strength as a bridge builder between the developed and developing world as host of COP29, to accelerate efforts to keep 1.5 in reach. Key to that will be establishing a new climate finance goal that reflects the scale and urgency of the climate challenge. And equally important, unlocking those funds and getting them to the nations that need them most.”

    Minister Marina Silva, Brazil’s Minister of the Environment and Climate Change, said: “As I said in Dubai, we need to make the most of the opportunity that this Troika of COP Presidencies presents: to ensure that in these coming two years we will be able to do what science tells us we have to, in the last window of opportunity to achieve the 1.5°C ambition.”

    Following the launch of the Troika, Simon Stiell, the UN Climate Change Executive Secretary, said: “The unity of this Troika will help deliver on the ambition needed to tackle climate change, through collaboration, cooperation and coordination. This is an opportunity to cement what was agreed at COP28, ensure that it is enabled by COP29 and the subsequent actions taken at COP30 with new ambitious NDCs – shifting finance from trickles to torrents and delivering 1.5°C aligned NDCs.”

    SOURCE COP28

  • Masdar, Africa50 partner to accelerate clean energy transition across Africa

    Masdar, Africa50 partner to accelerate clean energy transition across Africa

    Abu Dhabi Future Energy Company PJSC-Masdar has announced a partnership with Africa50, the pan-African infrastructure investment platform to identify, fast-track and scale clean energy projects across the continent.

    The UAE’s clean energy champion has signed a memorandum of understanding (MoU) with Africa50 which will work to bridge the infrastructure funding gap and mobilize public and private finance.

    Masdar brings its technical expertise and extensive experience in emerging markets, while Africa50 brings its experience developing projects in Africa, which combined can help unlock Africa’s tremendous clean energy potential.

    Signed by Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar and Alain Ebobissé, Chief Executive Officer of Africa50 on the sidelines of Africa Climate Summit, the first of four global climate summits ahead of COP28, the agreement will see both parties work collaboratively to catalyze sustainable development of the clean energy sector in Africa.

    Masdar, one of the world’s largest clean energy companies and the largest in Africa, committed US$2 billion of equity as part of the UAE finance initiative, which was announced during Africa Climate Summit by HE Dr. Sultan Al Jaber, Chairman of Masdar and COP28 President-Designate. The initiative brings together public, private, and development capital from UAE institutions, notably from Abu Dhabi Fund for Development (ADFD), Etihad Credit Insurance (ECI), Masdar, and AMEA Power. Africa50 is expected to also join this initiative as a strategic partner.

    HE Dr Sultan Al Jaber, UAE Minister of Industry & Advanced Technology, Chairman of Masdar and COP28 President-Designate, said: “We welcome this important partnership with Africa50 which brings a key stakeholder to the table for an inclusive, equitable and just energy transition. We look forward to working with Africa for Africa. The world must continue to close the gap on climate finance for clean energy investment in the global south which is disproportionately affected by climate change. We need the public and private sectors to work together to deliver clean energy access across Africa – a key mission and objective of Africa50. This can be accelerated in countries with robust regulatory frameworks, clear transition strategies and a real commitment to developing grid structure.”

    Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar said:“As the largest renewable energy company in Africa, through our joint venture with Infinity Power, it is fitting that Masdar, with Africa50, should take this bold step forward which will unlock much needed climate finance for the energy transition. It is a key strategic market for Masdar and we are proud of our long-term partnerships and projects in Africa. Our portfolio today includes Senegal’s first utility-scale wind farm, under Masdar’s Infinity Power Holding platform (IPH), Mauritania’s first and largest solar photovoltaic project, and the development of Africa’s largest wind farm in Egypt with IPH and other partners. With Africa50, Masdar looks forward to unlocking the enormous clean energy potential across the continent,”

    Masdar has committed a total of US$10 billion in clean energy finance, of which US$2 billion will be generated from equity, with an additional US$8 billion mobilized from project finance.This landmark investment will target the delivery of 10GW of clean energy capacity in Africa by 2030.

    Alain Ebobissé, Chief Executive Officer of Africa50,commented: “Partnerships are key to our goal of scaling up and accelerating the delivery of bankable and sustainable infrastructure across Africa. We are pleased to join forces with Masdar through thissigning. We believe that this step will become one of many, on a journey to drive transformative projects that support Africa’s path to net-zero and help builder cleaner economies for future generations.”Africa50 and Masdar will also explore opportunities to collaborate on the implementation of the Alliance for Green Infrastructure in Africa (AGIA) which was launched at COP27 by the African Union Commission, the African Development Bank and Africa50.

    The UAE investment initiative sits under the umbrella of Etihad 7, a development platform launched by the UAE at Abu Dhabi Sustainability Week in 2022 and spear-headed by the Ministry of Foreign Affairs (MoFA). Announced in 2022, Etihad 7 aims to provide 100 million people across the African continent with clean electricity by 2035.

    Established in 2006, Masdar is the UAE’s clean energy powerhouse. It is active in over 40 countries and has invested in a portfolio of renewable energy projects with a combined capacity of around 20 gigawatts (GW). Masdar aims to grow this to at least 100 GW by 2030.

    The company is also targeting green hydrogen production of 1 million tonnes per annum by the same year.

  • COP28 President-Designate calls on international community to deliver on climate finance

    COP28 President-Designate calls on international community to deliver on climate finance

    COP28 President-Designate Dr. Sultan Al Jaber has addressed the nineteenth session of the African Ministerial Conference on the Environment (AMCEN), sharing his vision and priorities for COP28, especially the need for adaptation financing and acceleration of the energy transition.

    A key partner to COP28, AMCEN unites environment ministers from across the continent and provides political guidance and coordinates policy positions among its member states, which include all 54 African countries. Ethiopia will chair AMCEN in 2024.

    In his speech, Dr. Al Jaber highlighted the need for urgent action to put the world back on track to achieve the goals of the Paris Agreement and keep the ambition of 1.5 within reach.

    “With just over 100 days before the world gathers in Dubai for COP28, both the science and common sense are telling us that our collective response to climate change is nowhere near good enough.”

    The COP President Designate not only recognized Africa’s position at the frontline of climate impacts but also its performance and potential as a leading force in the energy transition.

    He said, “When it comes to transitioning to an energy system free of unabated fossil fuels, Africa has many lessons for the rest of us. Here in Ethiopia, almost 100 per cent of the country’s energy comes from renewable hydro power. […] across this great continent, a young and growing population is seizing the potential of other clean energy sources from wind to solar and choosing low carbon economic growth.”

    However, he also acknowledged that a chronic lack of available, accessible and affordable climate finance is holding back Africa’s potential, noting that barely one tenth of global climate finance finds its way to the continent.

    As such, Dr. Al Jaber highlighted the urgent need to reform international climate finance. He said, “First, the international community must come through with the 100-billion-dollar pledge they made over a decade ago. I will continue to press donor countries to ensure delivery no later than this year […] Next, the entire global financial architecture from IFIs to MDBs needs modernizing. They were built for the second half of the last century. They urgently need to be upgraded to meet the needs of this one.”

    He was also clear on his call to action on Loss and Damage: “We must operationalize the fund and funding arrangements for Loss and Damage, and early pledges are vital to ensure we live up to the commitments made at Sharm El Sheikh.”

    In making these remarks, Dr. Al Jaber referred to a meeting of the Independent High-Level Expert Group (IHLEG) that united world leading economists in Abu Dhabi for two days of talks on the 15 and 16 August.

    The meeting, which was attended by leading figures including IHLEG co-chairs Lord Nicholas Stern and Dr. Vera Songwe as well as representatives from the World Bank, IMF, ECF and IFC, the COP28 and COP27 Presidencies, set out crucial next steps to reform international climate finance. A detailed report, including a clear roadmap on how to implement recommendations, will be presented to world leaders at COP28.

    Looking to the future and another significant moment to drive forward ‘fixing climate finance’, Dr. Al Jaber also announced that the COP28 UAE Presidency will co-host the third Climate and Development Ministerial alongside the UK, Malawi and Vanuatu governments in the UAE on 29 October during the formal ‘pre-COP’ period.

    The meeting – which will focus on advancing access to, and delivery of, adaptation finance – will be led by climate and development ministers from LDC and AOSIS states and will also be attended by ministers and leaders from ally countries, International Financial Organizations (IFIs), multilateral development banks (MDBs), Climate Funds and leading multinational organizations.

    During his visit to Ethiopia, Dr. Al Jaber also held bilateral meetings with African leaders to discuss the COP28 climate finance and energy transition agenda, including with Alioune Ndoye, Minister of Environment, Development and Ecological Transition of Senegal; Barbra Creecy, Minister of Forestry, Fisheries and Environmental Affairs of South Africa and Collins Nzovu, Minister of Green Economy and Environment of Zambia.

    He also particularly praised Ethiopia’s afforestation and reforestation-focused Green Legacy Initiative, which has created over 767,000 green jobs under Prime Minister Abiy Ahmed Ali’s leadership.

    Dr. Al Jaber’s visit to the African region and speech at the AMCEN summit is an important moment in mobilizing African leaders ahead of COP28 and preparing the ground for strong outcomes on international climate finance, including loss and damage.

    SOURCE COP28