IEA reinforces COP28’s role as an inflection point in tackling climate change: Amin

IEA reinforces COP28’s role as an inflection point in tackling climate change: Amin

 

The International Energy Agency report, which has urged oil producers “to commit to green investment and climate goals or continue a high-risk business as usual strategy,” reinforces the need for COP28 to be an inflection point in the world’s efforts to tackle climate change and keep 1.5C temperature goal within reach, Adnan Amin, CEO of COP28 said on Thursday.

“The world must deliver an ambitious decision on the Global Stocktake (an assessment of progress made toward mitigating global warming) and give the world some good news,” Amin said, adding that the report specifically noted that all sectors must be part of the solution. “Real tangible climate action will only come with everyone at the table, and we have always said that we cannot have an energy transition without the energy industry,” he said in a statement.

Amin’s call comes days ahead of the landmark COP28 summit opening in Dubai.

IEA Executive Director Fatih Birol said in the report that the industry was now facing a "moment of truth" at the COP28 Climate Summit, given the scale of the climate crisis and the lack of investment and support for the net zero transition among oil and gas firms worldwide.

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