The United Arab Emirates, which is the host of COP28, says it is aiming for a gradual shift to renewable energy while still relying on oil profits|@COP28_UAE|X
The world’s leading oil producer, the United Arab Emirates (UAE), hosting the 28th Conference of the Parties (COP28), has many questioning the seriousness of the UN climate conference.
Activists further criticized Dubai as the host after a bombshell report alleged the country planned on lobbying for fossil fuel deals with at least 15 nations at the event.
The fact that the president of COP28, Sultan Al Jaber, also heads the Abu Dhabi National Oil Company drew further scrutiny.
Why?
COP28 aims to curb greenhouse gas emissions and further the efforts 150 governments agreed upon in 1992.
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To prevent the world from warming more than the 1.5°C threshold.
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To reach net-zero emissions by 2050.
The importance of 1.5°C
Several UN agencies, think tanks, and academic institutions have warned that even a small amount of warming (about 1.2°C) above preindustrial levels could have catastrophic climate change effects.
What we have seen this year is a testament to it. Extreme weather events like record-breaking heat waves, wildfires and floods rocked the world. Climate crises cost the US economy $150 billion annually, according to the recent NCA5 report.
A way to reach the COP goals is to abandon reliance on fossil fuels, including oil and gas, which are key to the economic and political stability of the Gulf nations.
But how would Gulf countries balance their reliance on oil revenue and reduce carbon emissions? The UAE says it aims to gradually shift to renewable energy while still relying on oil profits.
It isn’t enough. The Climate Action Tracker deemed the UAE’s 2050 net-zero carbon pledge “poor” and that its fossil-fuel developments make the goals “unachievable.”
Notably, the US, China, and India—the top three carbon emitters of planet-warming greenhouse gases—have shown less interest in the summit. President Joe Biden and Xi Jinping are not expected to attend. Only the Indian Prime Minister, Narendra Modi, will be there.
Following pushback for Biden not attending the COP28 opening, Vice-President Kamala Harris will attend the summit.