The UAE Minister of Industry and Advanced Technology, President-designate of the Climate Conference "COP28", Dr. Sultan bin Ahmed Al-Jaber, stressed the world's need to triple its production capacity from renewable energy sources over the next seven years, and six times by 2040, to reach 50 thousand terawatts per hour. .

This came in the minister's keynote address to the "Berlin Dialogue Conference on Transition in the Energy Sector" currently being held in the Republic of Germany, today, Wednesday, according to the Emirates News Agency.

Dr. Sultan bin Ahmed Al Jaber stressed the importance of cooperation within the international community, calling on all global partners, led by Germany, as the headquarters of the General Secretariat of the United Nations Framework Convention on Climate Change, and the country hosting three climate conferences, to cooperate with the UAE, the host country for the 28th session of the Climate Change Conference. Conference, in implementing economically viable renewable energy projects in every region around the world.

The minister also urged the international community to agree on the goal of achieving a logical, practical and gradual transition in the energy sector. To ensure global energy security in conjunction with building the future energy system, expanding the scope of partnerships and exploring opportunities to increase the production capacity of all renewable energy sources.

Dr. Sultan bin Ahmed Al Jaber added that renewable energy sources are radically changing the energy sector, as they provided nearly 90% of the total new capacity for power generation last year, referring to the plans of the Abu Dhabi Future Energy Company "Masdar" to increase its portfolio of renewable energy four times. During the next seven years, from 25,000 megawatts of renewable energy currently to more than 100 gigawatts, explaining that Germany is on a similar path, raising the contribution of renewable energy to 40% of its electric power generation capacity within 30 years.

He stressed the need to reduce global emissions by 43%, stressing that the only way to do so is to adopt an approach that takes advantage of all available solutions, calling on climate action leaders to actively seek to benefit from all renewable energy sources.

He pointed out the need to explore all available options, as it is not possible to suffice with only one solution such as renewable energy sources, hydrogen, nuclear energy, carbon capture, or the use of oil and gas that are less intensive in emissions; The world needs all of these solutions together, as well as new technologies to be invented, commercialized and implemented.”

In this regard, he stressed the important role of hydrogen in sectors whose emissions are difficult to mitigate, such as the steel, cement and aluminum industries.
He reaffirmed the necessity of seeking a comprehensive development of the performance of international financing institutions and multilateral development banks to ensure that developing economies are not left behind while the world seeks to expand clean energy solutions, saying: "These institutions were established nearly 80 years ago to stimulate reconstruction after The Second World War, and we need to modernize its tasks and develop its operating model to keep pace with the twenty-first century, and we also have to expand the scope of concessional financing, and provide more of it at an appropriate cost, to reduce risks and attract and multiply financing from the private sector. Create a low-emissions path for significant economic growth.

It is noteworthy that the "Berlin Dialogue Conference on the Transition in the Energy Sector" is an annual international forum to discuss achieving a global energy transition in a safe, environmentally responsible and reasonable cost. from 60 countries.
Source: Middle East News Agency