Key takeaways from the UN climate meeting and the future trajectory of the energy transitions discussed during the COP26 Panel at the ADIPEC 2021 Strategic Conference
Energy Ministers from Bahrain, Portugal, Senegal, and Turkey led the strategic discussion on how to bring nations together to tackle climate change in alignment with the outcomes of COP26
The growing importance of natural gas and the importance of supporting developing countries through the energy transition were highlighted as critical factors fueling the future through a new energy ecosystem.
Abu Dhabi, UAE – 16 November 2021: The first official Ministerial COP26 Panel since the conclusion of the UN climate meeting in Glasgow took place this morning at ADIPEC 2021, the global energy industry’s largest most important and influential event.
Held under the patronage of His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the United Arab Emirates, and hosted by the Abu Dhabi National Oil Company (ADNOC) from 15 – 18 November in Abu Dhabi, the ADIPEC 2021 Strategic Conference provided the perfect setting to gather the world’s energy Ministers and policymakers to chart a clear path for the energy industry to align itself with the outcomes of COP26 and to shape government policy and industry behaviour in the months and years to come.
The esteemed panel of Energy Ministers from Bahrain, Portugal, Senegal, and Turkey highlighted the growing importance of natural gas and the importance of supporting developing countries through the energy transition as critical factors fuelling the future through a new energy ecosystem underpinned by climate concerns and emission-reduction goals.
His Excellency Dr. Mohamed bin Mubarak Bin Daina, Envoy for Climate Affairs and Chief Executive of the Supreme Council for Environment, Bahrain, said: “We made our commitment [to net zero] by 2060 but we also made a pledge to ourselves that we would reduce emissions by 10% in 2025 and 20% by 2035. We are also committed to providing the most efficient and affordable state of energy mix. We need to help developing countries to grow and not put obstacles in front of their growth.”
His Excellency João Galamba, Deputy Minister and Secretary of State for Energy, Portugal, commented: “There’s a virtuous relation between renewables in general and green hydrogen.
We have now created the conditions under which hydrogens cannot be hype; it has to be a reality. Hydrogen solves some of the problems of renewables and renewables make hydrogen possible. Countries that are competitive in their renewable mix will be competitive in producing hydrogen. Bringing consumers on board is a critical success factor for any decarbonisation strategy.”
Her Excellency Dr. Aissatou Sophie Gladima, Minister of Petroleum and Energies, Senegal, said: “Today, in Senegal, 2% of electricity comes from clean energy, from wind energy, so the aim is to increase this level. However, due to the geographical constraints, we need to electrify our remote areas and to do that we need to create green energy, and produce more power from energies like natural gas. Energy transition needs to be done in a fair manner, a transparent manner, and an increasing manner, all African countries need to work together to defence these principles”.
His Excellency, Dr. Alparslan Bayraktar, Deputy Minister, Ministry of Energy Natural Resources, Turkey, said: “The infrastructure is there, the sources are there, all we need is political commitment and willingness, and a pragmatic and creative approach to make this happen. We believe that gas can play a major role for this transition, and we need to successfully manage this transition.”
Earlier this month, the UN Framework Convention on Climate Change (UNFCCC) officially announced that the UAE will host the 28th Conference of the Parties (COP28) in 2023.The UNFCCC confirmation followed unanimous endorsement by the Asia Pacific Group of nations during COP26 in Glasgow.
Also announced at COP26 was the launch of the UAE and the International Renewable Energy Agency’s (IRENA) $1 billion global finance platform that aims to finance 1.5 GW of new renewable energy power in developing countries by 2030. The Energy Transition Accelerator Financing (ETAF) Platform secured $ 400 million anchor funding from Abu Dhabi Fund for Development (ADFD) as its first strategic partner.
Elsewhere on the ADIPEC 2021 Strategic Conference agenda today, Paul Polman, Former CEO Unilever and Co-Chair, Global Commission for Economy & Climate, took part in a Live Session where he shared his insights into the creation and adaptability of circularity, how it contributes to sustainable global development and the importance of the UN Sustainable Development Goals for governments, businesses and citizens. This was followed by a Live Session hosting His Excellency Tarek El Molla, Minister of Petroleum and Mineral Resources, Arab Republic of Egypt, who discussed Egypt’s energy future, the plans and road ahead for the industry, including an overview of the East Mediterranean Gas Forum and Egypt’s Modernisation Project.
The afternoon’s Live Sessions covered topics including, “Smart cities and the future of sustainability: how is the future of mobility changing?”; “Building an innovative and creative world”; “The future of energy: how geopolitics are changing the world”; and “Why societies and workplaces changed: managing business resilience post pandemic”.
The ADIPEC Strategic Conference continues tomorrow (17 November) under the theme “Building the energy company of the future: new business models and investment flows” and on 18 November under the theme “Transformational technologies: unlocking the engines of change”.
ADIPEC 2021 is supported by the UAE Ministry of Energy and Infrastructure, the UAE Ministry of Industry and Advanced Technology, the Department of Municipalities and Transport, the Abu Dhabi Chamber, the Abu Dhabi Department of Culture and Tourism and the Department of Education and Knowledge.