Sultan Al Jaber calls for ambitious NDCs before COP29

COP28 President Sultan Al Jaber calls on governments to submit ambitious NDCs to accelerate global decarbonization, relying on technology investment and innovation to reach the 1.5°C climate target.

Partagez:

Sultan Al Jaber, President of COP28, made a clear call to the world’s governments at a side event to the UN General Assembly in New York.
He urged Parties to accelerate the submission of their next Nationally Determined Contributions (NDCs) before the February 2025 deadline.
This call, already echoed at COP28, is in line with the Emirati consensus for faster and more effective global decarbonization.
Addressing an audience of political and economic decision-makers, Al Jaber reiterated that the NDCs represent much more than a climate framework.
They are genuine catalysts for socio-economic growth, enabling economies to integrate cutting-edge technologies such as artificial intelligence and renewable energies to accelerate the energy transition.
He insisted that countries must perceive these contributions not as a burden, but as a strategic opportunity for growth.

Investing in the energy and technology transition

The development of NDCs must not be limited to symbolic commitments.
Al Jaber highlighted the potential of three major global trends: the energy transition, the rise of artificial intelligence (AI) and the expansion of emerging markets.
In his view, these three pillars will not only accelerate the reduction of greenhouse gas emissions, but also generate opportunities for sustainable growth, particularly in developing economies.
The United Arab Emirates, a pioneer in diversifying its energy sources, is a case in point.
Since 2019, the UAE has doubled its renewable energy capacity and plans to triple it by 2030.
This strategic move is part of their drive to strengthen their energy independence while reducing their carbon footprint.
Al Jaber stressed that decarbonization will not be achieved without the massive integration of technologies such as AI, energy efficiency and innovation in transport systems and infrastructure.

The Oil Sector Decarbonization Charter

At the same time, Al Jaber highlighted the evolution of the Oil and Gas Decarbonization Charter (OGDC), which has grown from 19 members to 54, covering 43% of the world’s oil production.
This figure demonstrates the growing willingness of producing countries to play an active part in reducing their emissions, while preserving their economic interests.
Collaboration with major industry players enables a smoother transition to cleaner solutions, while maintaining global supply chains.
The charter also provides a framework for companies wishing to include their sectors in future NDCs.
Al Jaber emphasized the importance of industry engagement in these plans, stressing that inclusive approaches deliver concrete results.
In this way, OGDC members are demonstrating that it is possible to combine traditional energy production with decarbonization.
Anticipating these initiatives is crucial to maintaining the 1.5°C target, while ensuring a seamless transition for hydrocarbon-dependent economies.

Financing and collective objectives for COP29

Another central aspect addressed by Sultan Al Jaber was the need to reach a financial consensus at COP29.
He stressed the importance of setting a Collective Quantified Target (CQT) for climate financing.
This new financial framework should enable investments to be directed towards the most vulnerable sectors, particularly those in developing countries.
The implementation of this mechanism will ensure a better distribution of funds and reinforce the impact of NDCs.
For decarbonization to be effective, substantial financial resources must be allocated to green technologies and low-emission energy infrastructures.
Without this significant financial contribution, it will be difficult to achieve global climate objectives.

Immediate action to speed up the transition

To reinforce this momentum, Al Jaber announced that the United Arab Emirates will submit its next NDC before COP29, illustrating its commitment to decarbonization.
This contribution will cover all economic sectors, including energy, industry, transport and waste.
The country will put in place a rigorous legal framework to ensure that these targets are met, with precise time milestones for each sector.
In parallel, the COP Presidencies Troika – an unprecedented partnership between the COP presidencies of the United Arab Emirates, Azerbaijan and Brazil – will launch a series of initiatives to stimulate discussion and cooperation around the NDCs.
In particular, Al Jaber cited key events such as the Petersberg Climate Dialogue in Germany and the Ministerial Meeting on Climate Action in Wuhan, China, which will bring together leaders to develop concrete climate strategies.
Sultan Al Jaber reiterated the urgent need for rapid, coordinated collective action.
By submitting ambitious NDCs and investing massively in technology and innovation, governments will not only be able to achieve their climate goals, but also pave the way for sustainable and inclusive economic growth.

Frontier Infrastructure Holdings has signed an offtake agreement with manager Wild Assets for up to 120 000 tonnes of BECCS credits, underscoring the voluntary market’s growing appetite for traceable, high-permanence carbon removals.
Global carbon capture and offset credit markets could exceed $1.35 trillion by 2050, driven by private investment, technological advances, and regulatory developments, according to analysis published by Wood Mackenzie.
The Australian carbon credit market is experiencing temporary price stabilization, while the emergence of new alternative financial instruments gradually attracts corporate attention, subtly altering the commercial and financial dynamics of the sector.
Norway has launched a major industrial project aimed at capturing, maritime transport, and geological storage of CO₂, mobilizing key energy players and significant public subsidies to ensure economic viability.
A €21mn European grant, managed by EIB Global, will fund Egyptian projects aimed at cutting industrial emissions and boosting recycling, while a related €135mn loan is expected to raise additional climate investments.
Stockholm Exergi begins construction of a CO₂ capture facility in Stockholm, integrated with the expansion of Northern Lights in Norway, reaching a total storage capacity of 5 million tonnes per year by 2028.
Global emissions coverage by carbon pricing systems reaches 28%, driven by expanding compliance markets, where demand nearly tripled within one year, according to a World Bank report.
Vietnam initiates a pilot carbon market targeting steel, cement, and thermal energy industries to prepare for nationwide regulation starting in 2029.
The U.S. Environmental Protection Agency (EPA) proposes granting Texas direct authority to issue carbon dioxide injection permits, potentially accelerating the commercial expansion of geological CO₂ storage projects.
Höegh Evi and Aker BP received Approval in Principle from DNV for a maritime carrier designed to transport liquefied CO₂ to offshore storage sites in Norway.
Norne and the Port of Aalborg begin construction of a 15 mn tonne per year CO2 terminal, supported by an EU grant.
The Lagos State government has launched a programme to deploy 80 million improved cookstoves, generating up to 1.2 billion tonnes of tradable carbon credits.
The US Department of Energy has cancelled 24 projects funded under the Biden administration, citing their lack of profitability and alignment with national energy priorities.
In the United States, the carbon black market faces unprecedented fluctuations in the first half of 2025, driven by declining industrial demand and persistent raw material volatility, casting doubts over the sector's future stability.
European and UK carbon markets paused this week as participants await clarity on future integration of both emissions trading systems.
A consortium led by European Energy has secured prequalification for a Danish carbon capture and storage project in Næstved, aiming to remove 150,000 tons of CO₂ per year under a national subsidy programme.
The joint project by Copenhagen Infrastructure Partners and Vestforbrænding is among ten initiatives selected by the Danish Energy Agency for public carbon capture and storage funding.
Canadian broker One Exchange partners with Stephen Avenue Marketing to create OX CO₂, a carbon trading platform combining digital technology and human expertise.
Russia has filed a complaint with the World Trade Organization (WTO) challenging the European Union's Carbon Border Adjustment Mechanism (CBAM), deeming it discriminatory and protectionist towards its strategic commodity exports.
BP recommends extending the UK emissions trading system through 2042 and calls for alignment with the European market while supporting the inclusion of carbon removals in the scheme.