UAE Special Envoy for Climate outlines pathway for practical, realistic, economically viable energy transition

UAE Special Envoy for Climate outlines pathway for practical, realistic, economically viable energy transition

NEW YORK, 22nd September, 2022 (WAM) -- Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, Special Envoy for Climate Change, today joined world leaders, ministers, and experts at the Bloomberg ‘Emerging + Frontier Forum’, taking place on the sidelines of the United Nations General Assembly in New York to emphasise the need for a just, affordable, and successful energy transition to drive both economic growth and climate action.

In his keynote address Dr. Al Jaber remarked that the energy transition needs a realistic, practical and economically viable plan in order to succeed in delivering climate progress together with energy security and economic growth.

"If people’s basic energy needs are not met, economic development slows down and so does climate action. And, if we under-invest in the energy system of today, before the energy system of tomorrow is ready, we will only make matters worse."

"Globally, there are less than one and half million barrels of spare oil capacity, that’s less than 2% per cent of global consumption. In a world where markets may face further disruption, that doesn’t give us a lot of room to maneuver. In fact, it is a recipe for disaster, when what we need is