Oil and gas company leaders engaged in discussions with heavy industry executives in the United Arab Emirates
The aim of these discussions was to establish firm commitments for reducing carbon emissions in preparation for the COP28 United Nations climate summit
COP28 is scheduled to be held in Dubai from November 30 to December 12, with a focus on addressing global warming
Governments see COP28 as a critical opportunity to accelerate efforts to limit global temperature rise
as current reports indicate that countries are falling short of their promises to keep global temperatures from rising by more than 1.5 degrees Celsius
Adnan Amin, COP28's CEO, highlighted the unique nature of these discussions, bringing together both emission suppliers (oil and gas) and emission demand industries
The primary objective of these discussions was to secure commitments from major industry players to decarbonize, ultimately contributing to the fight against global warming
The goal is to reach these agreements before the COP28 summit and determine the best approach for presenting them during the event
CEOs from over 50 oil and gas companies and leaders from the aluminium, steel, and cement industries attended the meeting
which addressed topics like hydrogen commercialization, carbon capture technologies, methane reduction, and renewable energy scaling
The president of COP28, Sultan al-Jaber, emphasized the importance of the oil and gas industry's involvement in climate change discussions
He called for net-zero emissions by 2050 and a near-zero methane emissions commitment by 2030