As COP29 officially began in Baku on November 11, 2024, outgoing COP28 President Sultan Al Jaber delivered his final address. He reflected on the progress made during his term and emphasized the need for continued action on climate change.
Al Jaber urged global leaders to “unite, act, and deliver,” highlighting the achievements of COP28 and theâŻUAE Consensus. He stressed that COP29 must build on the momentum achieved in Dubai and continue addressing climate challenges.
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The UAE Consensus
TheâŻUAE ConsensusâŻwas a central achievement of COP28. It set ambitious goals to address climate change. These included tripling renewable energy capacity, doubling energy efficiency, and ending deforestation by 2030. Al Jaber called it âcomprehensive and groundbreaking,â a milestone that many thought was impossible. He emphasized that this agreement was a significant step forward in the fight against climate change.
âMultilateralism has proven it can move the dial,â Al Jaber stated. He praised the collaboration across countries and sectors that made this achievement possible.
Momentum After COP28
Al Jaber emphasized that the work begun at COP28 didnât end with the closing ceremony. Progress continued after theâŻUAE ConsensusâŻwas agreed. He highlighted key initiatives that have gained momentum.
One such initiative is theâŻOil & Gas Decarbonization Charter (OGDC). Fifty-five companies have now joined, representing 44% of global oil production. These companies have committed to zero methane emissions by 2030 and achievingâŻnet zeroâŻby 2050. Al Jaber called this âthe most comprehensive private sector partnership on decarbonization to date.â
In addition, he referenced a summit held in Abu Dhabi earlier this month. The summit brought together leaders from climate, energy, finance, and artificial intelligence. Al Jaber stressed the importance of cross-sector collaboration.
âWhen sectors work together, we can lift economies and lower emissions,â he said. This, he explained, is how climate progress can be achieved alongside socio-economic benefits.
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The Role of Climate Finance
Al Jaber placed great emphasis on the importance ofâŻclimate finance. He called on public and private sources to make funding more available and affordable. This is crucial to support vulnerable countries and ensure the implementation of climate commitments.
He also mentioned theâŻLoss and Damage Fund, which saw over $850 million pledged at COP28. He urged countries to continue contributing to this fund, which helps nations most affected by climate change.
Another key initiative isâŻALTĂRRA, the worldâs largest catalytic climate investment fund. Launched at COP28, it has already allocated $6.5 billion of its $30 billion target into climate projects. Al Jaber stressed that this blended model of finance must continue to grow.
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The COP Presidencies Troika
One of the key innovations at COP28 was the creation of theâŻCOP Presidencies Troika. This mechanism unites the presidencies of COP28, COP29, and COP30. Al Jaber emphasized that it will help maintain momentum in the years ahead. The Troika will mobilize platforms like the UN and G20 to keep global climate goals on track.
âWe have laid the groundwork, but now it is up to all parties to deliver,â Al Jaber stated.
Passing the Baton
As Al Jaber passed the COP presidency toâŻMukhtar Babayev, the incomingâŻCOP29âŻPresident, he expressed his gratitude. He thanked everyone who helped deliver COP28âs successes and voiced his confidence in Babayevâs leadership.
âWe are what we do, not what we say,â Al Jaber concluded. He called for action over rhetoric, urging leaders to prioritize results over promises.
With the formal handover, COP29 enters a new phase. It now has the opportunity to build on the achievements of COP28. This sets the stage for the next chapter in the global fight against climate change.