Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology, delivered his handover address as COP28 President on the first day of COP29 in Azerbaijan, marking the end of a significant term characterized by substantial advancements in the climate agenda. In his speech, he urged all parties to "demonstrate once more that we can unite, act, and deliver" during the next two weeks in Baku.
"By achieving the historic UAE Consensus, we accomplished what many believed to be impossible," Dr. Al Jaber stated during a ceremony officially transferring the Presidency to Mukhtar Babayev. He emphasized that COP28 negotiators had "proven that multilateralism can drive change and make a tangible difference." Despite the challenges COP29 faces, Dr. Al Jaber asserted that the UAE will always prioritize "partnerships over polarization, dialogue over division, and peace over provocation."
The outgoing President expressed his gratitude to those who contributed to the "historic, comprehensive, and groundbreaking UAE Consensus," including President Sheikh Mohamed and the UAE leadership. Since its introduction at COP28, the UAE Consensus has become a pivotal reference for global climate ambition and sustainable development, encompassing agreements on a fair, orderly, and equitable energy transition and targets for tripling renewable energy capacity, doubling energy efficiency, and halting deforestation by the end of the decade.
Dr. Al Jaber highlighted ongoing progress, noting that 55 companies have joined the Oil & Gas Decarbonisation Charter (OGDC), representing 44% of global oil production. He also mentioned a recent summit in Abu Dhabi that brought together leaders in climate, energy, and AI to promote low-carbon growth.
Financial progress includes the appointment of the Philippines as the host country for the Board of the Fund for Responding to Loss and Damage, with over $850 million pledged to the fund. ALTÉRRA, the world's largest climate-focused investment fund, has allocated $6.5 billion to impact investors.
At COP29, parties must establish a New Collective Quantified Goal on climate finance to fully implement the UAE Consensus. Dr. Al Jaber introduced the COP Presidencies Troika, a new mechanism uniting COP28, COP29, and COP30 Presidencies to solidify the legacy of the UAE Consensus.
Concluding his speech, Dr. Al Jaber advised incoming COP29 President Babayev to let actions speak louder than words, emphasizing that "we are what we do, not what we say."
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