COP28 Presidency, IEA highlight decarbonisation initiatives

Dubai: The UAE, which has the presidency for COP28, and the International Energy Agency on Friday highlighted a set of “decarbonisation initiatives” that can set the world on a path to an energy system consistent with keeping 1.5°C degrees within reach.

The initiatives were part of the summary -- published by COP28 President Sultan Al Jaber and International Energy Agency (IEA) Executive Director Fatih Birol -- of the series of high-level dialogues they have co-chaired in the run-up to the United Nations ‘Conference of the Parties’ on Climate, known as COP28. The summary provides a call to action on accelerating the energy transition and keeping 1.5°C in reach. Ministers, decision makers and chief executive officers (CEOs) from over 40 countries and 20 organisations have participated in the dialogues, discussing key elements of the energy transition including renewables, energy efficiency, financing, fossil fuel demand and supply, and decarbonisation. “Through these high-level dialogues, we have defined critical gaps and crucial opportunities in climate action to build the most comprehensive set of decarbonisation initiatives ever,” Jaber said. “The summary of the dialogues sets the tone for countries to decide an ambitious response to the Global Stocktake, setting us on a path to an energy system consistent with keeping 1.5°C degrees within reach,” he added. The fifth and final session of the COP28 and IEA high-level dialogues will be held at the World Climate Action Summit (WCAS), which starts Friday, as part of COP28 taking place in Dubai.

The dialogue will bring together Heads of State, leaders of government and international organisations to share ambitions for a 1.5°C-aligned energy transition.