Dr. Sultan Al Jaber, the COP28 President-Designate, has urged G7 nations to lead the way in making climate finance more accessible, affordable, and available.
Speaking during a Joint Meeting of G7 Ministers of Climate, Energy, and the Environment in Sapporo, Japan, Dr. Al Jaber called for a new deal on climate finance to accelerate progress on mitigation, adaptation, loss and damage, and biodiversity and ecosystem protection, especially in developing nations.
“We must make a fairer deal for the Global South. Not enough is getting to the people and places that need it most. Developed countries first need to follow through on the 100 billion dollar pledge they made to developing countries over a decade ago,” Dr. Al Jaber said. He also emphasized the need for fundamental reform of international financial institutions to achieve both climate and development goals.
To reach the goals of the Paris Agreement, Dr. Al Jaber stated that the world must “triple renewable capacity by 2030 and increase it 6-fold by 2040.” He highlighted the importance of investments in hydrogen, carbon capture, and nuclear technologies to help decarbonize heavy industry.
Dr. Al Jaber advocated for a pragmatic and well-managed energy transition that considers regional and national differences while focusing on reducing emissions. “I am counting on you to pursue the policies and take the actions needed to deliver the climate deal of the decade. Let’s keep 1.5 alive. Let’s ensure sustainable economic and social growth for all our people. And let’s keep our eye on the prize… and that is holding back emissions, not progress,” he urged.
Dr. Al Jaber met with Japan’s Prime Minister Fumio Kishida and Foreign Minister Yoshimasa Hayashi to discuss Japan’s G7 Presidency and collaboration on climate finance and IFI reform in the lead-up to COP28. He also held bilateral meetings with ministers from India, Indonesia, Japan, Canada, France, Germany, the UK, and the US to emphasize the necessity of increased climate finance for a just energy transition in emerging economies.
G7 nations have also been urged to triple the amount of money available for clean tech investment, adaptation finance, and a just energy transition in emerging and developing countries by 2030. Dr. Al Jaber stressed the need for reforming international financial institutions and delivering the $100 billion promised to developing countries.
“The global south is still waiting for developed economies to make good on the 100-billion-dollar climate finance pledge made over a decade ago. And they are rightly calling for fundamental reforms of IFIs and MDBs,” he said.
He also underscored the need for unity and solidarity in driving climate action, stating, “The transformational progress we need will only happen through complete inclusivity. No one can be on the sidelines. COP 28 must unite North and South, Governments and Industry, Science and Civil Society.”
Dr. Al Jaber acknowledged Japan’s significant role in advancing climate action through the Kyoto Protocol, the first international treaty to set legally binding targets to cut greenhouse gas emissions. “Now, COP28 in the UAE must deliver that action. The Global Stocktake will show just how far off course we are on global progress, and we will need to respond with a plan of action that is inclusive, ambitious, and bold. We need a COP of Action and a COP for All,” he concluded.
The COP28 meeting, the 2023 United Nations Climate Change Conference, will be held in Dubai from November 30th to December 12th. A primary aim of the conference is to raise ambition for climate action. It will seek to build on the progress made at COP27 and to encourage countries to strengthen their commitments to reducing greenhouse gas emissions.
It will also aim to advance the implementation of the Paris climate agreement that saw commitments to keep global warming below 1.5C. The conference will provide an opportunity for countries to discuss their progress in implementing the Agreement and to identify any challenges that need to be addressed.
COP28 will also attempt to build support for the most vulnerable countries to adapt to the impacts of climate change and to build resilience.
The COP28 meeting is a critical opportunity to accelerate progress on climate action. The decisions made at the conference will have a major impact on the future of the planet.
