IEF Welcomes COP28 Recognition of Multiple Pathways to Net Zero
RIYADH, Saudi Arabia – The International Energy Forum congratulated the United Arab Emirates for bringing the UN COP28 climate conference to a successful conclusion with a recognition that each country must chart its own course towards carbon neutrality.
The UAE Consensus, signed by 198 parties at the end of the UN climate conference, recognised the need for countries to make reductions in greenhouse gas emissions in a nationally determined manner, taking into account the Paris Agreement and their different national circumstances, pathways and approaches.
This "multidimensional" approach to achieving net zero was a key recommendation of an IEF report on the energy transition published in August, which argued that expectations of a single linear global pathway were misplaced. The report was submitted to the COP28 process during MENA Climate Week in October.
"I commend the COP28 Presidency on a historic worldwide agreement to accelerate efforts to reduce greenhouse gas emissions, recognizing the need for a multidimensional approach to the energy transition, reflecting different priorities, starting points and policy approaches," said Joseph McMonigle, IEF Secretary General.
"I am pleased that the IEF's work on energy transition has contributed to the dialogue at COP28 and we look forward to supporting our 71 member countries to scale up clean energy solutions and implement what has been agreed," he added.
The IEF report found that developments over the last two years have demonstrated that the energy transition is more complicated than had previously been thought. Expectations of a linear global transition were shaken as policymakers found climate goals competing with priorities around energy security, energy access, and affordability.
Mr McMonigle praised the COP28 President Dr Sultan Al Jaber for leading an inclusive and consensual dialogue in Dubai, ensuring that the voice of energy producers and consumers were heard.
He also highlighted several other initiatives announced at COP28, including the Global Decarbonization Charter, under which 52 major energy companies agreed to eliminate methane emissions by 2030 and reach net zero from their operations by 2050.
The IEF is a supporting organization of the Carbon Management Challenge, which encourages countries to scale up carbon capture, use and storage projects and was also launched at COP28.
