Riyadh, Saudi Arabia- Energy ministers representing Saudi Arabia, the United Arab Emirates, and Iraq, the prominent members of OPEC, convened in Riyadh during UN MENA climate week to emphasize that oil and gas should not bear the brunt of stigmatization in the climate discourse. They asserted that the hydrocarbon industry remains pivotal in facilitating a structured shift towards sustainable energy sources.
UAE Energy Minister Suhail al-Mazrouei, while participating in a panel discussion, articulated, “The three of us, as major hydrocarbon producers, also bear a global responsibility to ensure that the energy transition is supplied with ample hydrocarbon resources, ensuring that the transition transpires at an economically responsible pace.”
It is noteworthy that the UAE is slated to host the COP28 climate summit, scheduled to transpire in Dubai from November 30th to December 12th.
As per current reports, nations worldwide are struggling to meet the United Nations’ objective of constraining the increase in global temperatures to below two degrees Celsius above pre-industrial levels, with efforts to limit it to 1.5 degrees Celsius.
COP28 President Sultan al-Jaber affirmed, “COP28 is poised to yield transformative outcomes for both this region and the entire world.” However, the selection of al-Jaber to lead the summit has drawn criticism from environmental activists, given his affiliation with OPEC and his leadership role in the state oil giant, ADNOC.
In response, al-Jaber defended the choice, remarking, “We have witnessed 27 COPs thus far, with a surprising revelation that 17 of them were hosted by nations endowed with fossil fuel resources. The undeniable reality is that energy remains a fundamental necessity for every corner of the globe.”
Saudi Energy Minister Prince Abdulaziz bin Salman echoed these sentiments, emphasizing that the energy sector should not be subject to stigmatization and reaffirming the continued global demand for hydrocarbons.
