19 Weeks To Go

The 28th session of the Conference of the Parties (COP28) to the UNFCCC will be held in Dubai from 30 November to 12 December 2023. In the coming months, our UAE office selects and shares articles to keep you informed on preparations and perspectives from the wider Arabian Gulf.

International trade will receive special focus at COP28 summit in Dubai. The UAE Ministry of Economy, the COP28 presidency and the UAE's Minister of State for Foreign Trade will co-lead the committee on trade for the summit alongside the secretariat of the World Trade Organization. A dedicated day will focus on trade – a first for the climate summit – and highlight trade's role as an enabler of climate-smart growth, including supply-chain resilience.

G20 deal on reducing fossil fuels blocked due to Saudi-led opposition. Several countries, with Saudi Arabia the most vocal, blocked a proposal by G20 nations to reduce the use of fossil fuels. The G20 gathering also failed to make progress on setting a global goal for renewable energy development. The failure to reach an agreement is likely to pile pressure on to the UAE to intensify its discussions with ministers and leaders as it will host COP28.

COP28 President calls on all countries to join global cooling pledge. During the 14th Clean Energy Ministerial, which took place alongside the G20 Energy Transitions Ministerial Meeting, Sultan Al Jaber, COP28 President-Designate, called on nations to participate in the Global Cooling Pledge, an initiative by UNEP and COP28. It aims at providing worldwide access to cooling technologies, to preserve food and ensure the safe storage of vaccines.

Climate research center ranks COP28 summit plans as 'insufficient'. The plans put forward by the UAE to fight climate change at COP28 are deemed insufficient by Climate Action Tracker. According to the research center "there is still too little action in the real economy" and despite a strengthened climate pledge, the new plan still allows for an increase in CO2 emissions by 2030 due to the expansion of fossil fuel production and consumption.

First high-level dialogue on 1.5°C-aligned energy transition held. The COP28 UAE Presidency and the International Energy Agency (IEA) have convened the first in a series of high-level dialogues that will continue until COP28, with the goal of building a 1.5°C-aligned energy transition. The dialogues will prepare the ground for specific commitments and calls to action at the World Climate Action Summit being held during the first days of COP28.

EU Green Deal chief's possible exit raises fears for bloc’s COP28 stances. The announcement by Frans Timmermans that he plans to run in a snap general election?in the Netherlands in November has raised questions about the bloc’s ability to influence negotiations at COP28. Timmermans is currently the first vice-president of the EU Commission and oversees the implementation of its ambitious goal to achieve climate neutrality by 2050.

International organizations launch "AI for Good Contest" for start-ups. The contest, launched by the IAEA, ITU, FAO, UNESCO, and the World Bank, aims to advance the development of solutions using artificial intelligence (AI) to address the impact of climate change on food security and sustainable water resources. Contest winners will have the possibility of presenting their innovative ideas to a global audience at COP28.

Abu Dhabi outlines comprehensive climate change strategy. Abu Dhabi's Environment Agency (EAD) launched a five-year climate change strategy focusing on reducing emissions, enhancing resilience, and promoting economic diversification through innovation and low-carbon technologies. The plan includes 81 initiatives and 12 strategic projects, aligned with the UAE's goal of achieving net zero emissions by 2050.

ADNOC completes drilling on world’s first CO2 injection well. Abu Dhabi National Oil Company (ADNOC) has completed drilling on what it claims is the world’s first fully sequestered carbon dioxide injection well, stepping up its investments in low-carbon projects in line with its $15 billion decarbonization plan. The well will deposit CO2?captured from ammonia producer Fertiglobe’s UAE operations “safely and permanently underground”.

UNEP publishes study on decarbonizing MENA banking sector. The report discusses the state of banking decarbonization in the MENA region, looking at the maturity of the policy and regulatory environment on net-zero banking as well as how the banking sector has responded so far.?The insights of the study can be applied beyond the region, but the study itself focused on Egypt and the UAE as key players in international climate negotiations.

Qatar and Mitsubishi Research Institute partner to study carbon credits. Qatar's Ministry of Environment and Climate Change partnered with Japan's Mitsubishi Research Institute to study carbon credits and sustainability options. The partnership will analyze the country’s carbon credits plan which pertains to initiatives and strategies aimed at reducing greenhouse gas emissions and promoting sustainable practices to combat climate change.?

Omani sovereign wealth fund invests in Italian lithium-free energy storage. Oman's sovereign wealth fund and Dutch multinational Vopak are among new investors betting on Italian renewable energy storage firm Energy Dome, whose technology does not rely on strategic raw materials. The Milan-based company's storage system is based on turning carbon dioxide (CO2) gas into a liquid and vice versa, which it says is cost-effective.

Japan's PM visits KSA, UAE and Qatar, with a focus on energy cooperation. Japan's Prime Minister Fumio Kishida visited the Gulf region for discussions around "how to deal with energy challenges" in the face of unstable supply. Agreements were signed on technology and climate change cooperation. Gulf partners expressed commitment to securing Japan's energy supplies and further cooperation on clean hydrogen, ammonia and recycled carbon fuels.

DNV and UAE partner to set up maritime decarbonization center. UAE Minister of Energy and Infrastructure, Suhail Al Mazrouei, and the CEO of Det Norske Veritas (DNV) Maritime, Knut ?rbeck-Nilssen, signed an MoU on establishing a Maritime Decarbonization Center. The signing took place during a ceremony at the IMO headquarters in London and the new partners are planning to launch the center at the beginning of 2024.