COP28 president: Finance key factor of success, adaptation must be at heart of action

COP28 president: Finance key factor of success, adaptation must be at heart of action
30 / 11 / 2023
بقلم Marwa Nassar - -

COP28 President Dr Sultan Al Jaber stressed finance is the key factor of success of climate agenda, but adaptation must be at the heart of action.

“We must bridge the finance gap… and agree on a robust framework for the Global Goal. Let’s put nature, lives, and livelihoods at the core of our national plans. Let’s finally face the issues that are critical to adaptation like water, food, agriculture, and health. And that is why I am proud that this COP will be the first to host a climate health ministerial,” he said in his address to the opening of COP28.

“I want this COP to be the COP that maximizes momentum on mitigation. Today countries representing more than 85 percent of the world’s economy are behind COP28’s goal of tripling renewable energy capacity by 2030. And we are reaching critical mass on the goal to double energy efficiency by 2030. This is how we will transition away from unabated coal. Let me also encourage countries to establish near zero methane emission targets, as part of the next round of NDCs. Zeroing out methane emissions can make a huge impact in the shortest time frame,” Al Jaber said.

“We all know that a key success factor across the climate agenda is finance. For too long, finance has not been available, accessible, or affordable. This Presidency is committed to unlocking finance to ensure that the global south does not have to choose between development and climate action. Let this be the year that climate finance meets the magnitude of the moment. Let this be the COP where we deliver on our promises, from the 100 billion to loss-and-damage. And on loss and damage I know how important this issue is to the parties, particularly the most vulnerable. What began in Sharm el Sheikh, and was given critical momentum in Abu Dhabi earlier this month, must now be delivered and actioned in Dubai,” he highlighted.

“I know there are strong views about the idea of including language on fossil fuels and renewables in the negotiated text. We have the power to do something unprecedented. I ask you to work together. Be flexible, find common ground, come forward with solutions and achieve consensus. And never lose sight of our North Star of 1.5C, because that is what I am going to stay laser focused on,” he added.

“Every nation, every sector, and every one of us has an urgent role to play. For my part, I pledge that I will run an inclusive and transparent process, one that encourages free and open discussion between all parties. I ask you to start this COP with a different mindset. I ask you to adopt a different way of thinking. I ask you to be flexible. We must ensure that this COP delivers the most ambitious Global Stocktake possible. So, let’s work efficiently, agree on the agenda, and move to text – quickly, please!,” Al Jaber concluded.

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