Home Commodities Climate chart of the week: UN host climate summit’s progress ‘inadequate’, science group says

Climate chart of the week: UN host climate summit’s progress ‘inadequate’, science group says

by SuperiorInvest

The United Arab Emirates’ per capita greenhouse gas emissions are among the highest in the world, an uncomfortable metric for the petrochemical nation, which is trying to be a green leader as host of this year’s COP28 UN climate summit.

Oil and gas-producing Middle Eastern states, including Qatar, Bahrain, Kuwait, the United Arab Emirates and Saudi Arabia, have some of the highest per capita carbon emissions in the world, according to Oxford-based research, outstripping other big emitters including the US, China and Russia . group Our world in data.

In absolute terms, China and the US are the world’s largest annual producers of greenhouse gases, while the US is the largest historical polluter.

All countries are challenged to meet the globally agreed Paris Agreement target of limiting warming to well below 2°C, ideally below 1.5°C.

United Arab Emirates appointed headmaster of its state oil company, Sultan al-Jaber, as president of COP28 last week, a decision that has sparked opposition from climate experts and activists.

Still, US climate envoy John Kerry and EU Green chief Frans Timmermans defended Jaber’s appointment this week, citing his renewable energy credentials.

In 2006, Jaber launched Masdar, an Abu Dhabi clean energy company that has become one of the largest renewables groups in the world and aims to increase its global renewables capacity to 100GW by 2030.

However, the UAE’s national emissions reduction target is rated as “very inadequate” by the independent scientific research group Climate Action Tracker.

CAT estimates that an economy-wide target of reducing emissions by 31 percent by 2030 compared to a business-as-usual scenario in 2030 would lead to more than tripling emissions compared to 1990 levels.

Compared to the UAE’s “fair share” of climate mitigation, the target was also “critically insufficient”, the group said.

Earth he announced during COP27 last November that a new target to cut emissions by 18 percent by 2030 compared to 2019 levels would be included in its next UN proposal this year.

The UAE has “prioritized climate action on its national agenda”, the Ministry of Climate Change and Environment told the Financial Times in response to the CAT’s findings.

Jaber touted the UAE’s credentials in his first speech as COP28 president last week, ahead of the World Future Energy Summit in Abu Dhabi. He said the UAE was the first in the region to commit to the Paris Agreement to limit global warming and pointed out national renewable energy targets.

OPEC members the UAE and Saudi Arabia are competing for countries to sell the last barrel of oil as demand for fossil fuels declines, arguing that their production processes are less emissions-intensive per barrel than other countries’.

Emission intensity measures are relative to output, meaning that output and absolute emissions can continue to rise even as emission intensity falls.

Abu Dhabi National Oil Company, led by Jaber, announced this year that it plans to spend $15 billion on clean energy, carbon capture and storage and electrification to reduce its carbon footprint by 25 percent by 2030.

The spending is just part of a projected total of $150 billion in capital spending between 2023 and 2027, an amount recently approved from the Adnoc Board of Directors.

“As a progressive and responsible energy provider, Adnoc is committed to making today’s energy cleaner while investing in the clean energies of tomorrow,” Adnoc said in a statement to the FT.

According to an analysis by Global Witness, more than 600 fossil fuel lobbyists were registered to attend COP27, a quarter more than the year before. The UAE brought the largest number of lobbyists of any government delegation, 70, the campaign group found.

Jaber said this week that COP28 would be “a COP for action and a COP for all, bringing together the global North and South and leaving no one behind”.

“COP28 in the United Arab Emirates will seek to find a global consensus so that we can go further and faster and move from the goals to their achievement,” he said.

Climate capital

Where climate change meets business, markets and politics. Explore the FT’s coverage here.

Curious about FT’s commitment to environmental sustainability? Learn more about our science-based goals here

Source Link

Related Posts

%d bloggers like this: