UAE Urges Major Course Correction in Climate Change

UAE Urges Major Course Correction in Climate Change

The UAE asserted the need to move from gradual steps to substantial progress and a quantum leap through partnerships, political will, and unified climate action.

It affirmed its endeavors to apply positive approaches as the host country of the UN Climate Change Conference (COP 28) and activate the principle of partnership to ensure tangible results at the conference, which will be held in Dubai Expo City at the end of 2023.

The Minister of Industry and Advanced Technology, Sultan Al Jaber, stressed that the world is far from achieving the goal of avoiding a rise in the planet's temperature above 1.5 degrees Celsius.

Al Jaber, also Cop28 President-designate, said the "hard reality" was that global emissions must fall 43 percent by 2030, asserting the need to shift from incremental steps to transformational progress.

He stressed that ensuring easy access to capital at a reasonable cost is essential to achieving comprehensive climate progress, highlighting the urgent need to reform international financial institutions and multilateral banks.

Al Jaber identified the essential pillars for moving from setting goals to implementing them as allocating capital and ensuring easy access to capital at a reasonable cost.

"We need to double the annual funding allocated to protecting the communities most vulnerable to