meed-logo

line1 line2 line3
SIGN IN / REGISTER

Cop28 must deliver on promises

25 October 2023

Commentary
Jennifer Aguinaldo
Energy & technology editor

 

There is a good chance that the average delegate attending the 2023 Conference of the Parties of the UN Framework Convention on Climate Change (Cop28) will skip visiting or driving past the key clean energy installations in the UAE.

These include the wind turbines on Sir Baniyas Island, 9.5 kilometres (km) off Jebel Dhana in Abu Dhabi; the $29bn Barakah nuclear power plant in Al-Gharbia, close to the border with Saudi Arabia; the solar farms in Sweihan and Al-Dhafra in Abu Dhabi; and Dubai’s Mohammed bin Rashid al-Maktoum Solar Park, 50km from Expo City, the venue for Cop28.

For many delegates, a trip to these sites is unnecessary. They are aware of the UAE’s green credentials, with the country having ploughed billions of dollars into investments aimed at decarbonising its economy, and more still to come.

For others, however, a single statistic undermines the positive environmental steps that the world’s sixth-largest crude exporter has taken. State-backed energy firm Abu Dhabi National Oil Company (Adnoc) plans to increase its oil production capacity from 4 million barrels a day (b/d) to 5 million b/d by 2027.

Double-edged strategy

Critics, who include the head of the Catholic Church, Pope Francis, have warned of the dangers of a double-edged energy transition strategy. Cop28 president-designate Sultan al-Jaber, managing director and CEO of Adnoc, prefers to describe such an approach as pragmatic.

An agreement requiring developed countries to provide loss and damage funding to countries most affected by climate change was a key takeaway from last year’s UN climate change conference in Egypt (Cop27). However, there was a lack of progress on the phasing down or out of fossil fuels.

The onus is now on the UAE, whose energy transition approach embraces energy sources from fossil fuels to green hydrogen, to deliver a more productive conference.

The hope is that the UAE’s status as an oil- exporting country, and the selection of an oil industry stalwart to lead this year’s negotiations, will not distract from the important tasks that the 12-day event aims to tackle.

Cop28 will see the first global stocktake of the progress countries have made towards their emissions reduction commitments or nationally determined contributions (NDCs).

Al-Jaber has also promised to supercharge climate finance and put more pressure on developed countries to fulfil the commitment they made at Cop15 in Copenhagen to mobilise $100bn annually by 2020. This target has been missed repeatedly.

A UAE finance initiative that will provide $4.5bn to help unlock Africa’s clean energy potential was announced in early September and is an example of such commitment.

Al-Jaber’s insistence on putting oil and gas companies at the heart of the climate dialogue is proving both decisive and divisive, however, depending on which side of the climate debate one supports.

“This is your opportunity to show the world that, in fact, you are central to the solution,” he told the oil and gas-dominated Adipec conference held in Abu Dhabi on 2-5 October.

How can green ammonia compete with grey ammonia if the gas for the grey ammonia is provided at a fraction of world market prices?
Cornelius Matthes, Dii Desert Energy

Cyril Widdershoven, global energy market analyst at Netherlands-based consultancy Verocy, supports Al-Jaber’s views. 

“The main Cop28 outcome will be linked to an even and rational transition from hydrocarbons to renewables, taking into account the overall need to cut emissions and [carbon] footprint,” he says. 

The summit will lead to a realisation that hydrocarbons will be a major part of the overall energy scene for decades to come, as the world is not yet ready to be fully electrified, Widdershoven adds.

The oil and gas industry’s increased presence at, and participation in, Cop28 is expected to make an impact.

“There will be huge pressure on the oil and gas industry to participate in the decarbonisation of energy systems, first by eliminating methane flaring and then eliminating emissions from their own operations by 2030,” says Paddy Padmanathan, co-founder and vice-chairman of clean energy firm Zhero and former CEO of Saudi utility developer Acwa Power.

“Abu Dhabi can influence the national oil companies to sign up to this, and Adnoc and Saudi Aramco should be able to influence the international oil companies to sign up.”

Top 10 UAE clean energy projects

Walking the talk

The UAE has shown leadership by being the first country in the Middle East and North Africa (Mena) region to initiate the phasing out of fossil fuel subsidies in 2015, Cornelius Matthes, CEO of Dubai-based Dii Desert Energy, tells MEED. 

“It was also the first Mena country to introduce a net-zero 2050 target in 2021, and has an unparalleled track record in building some of the largest solar plants in the world at record-low prices.”

Since other countries in the region have already followed the UAE’s lead, the expectation is for Cop28 to provide impetus for similar initiatives to accelerate.

With Abu Dhabi leading, Zhero’s Padmanathan expects it will also be possible to secure financial commitments
to the Loss & Damage Fund that was established at Cop27.

A declaration from the world’s 46 least-developed countries cited a “strong outcome operationalising the new Loss & Damage Fund” among their key expectations and priorities for Cop28.

Home to more than 14 per cent of the world’s population, these countries contribute about 1 per cent of emissions from fossil fuels and industrial processes and most are on the front line of the climate crisis. The majority need funds to deal with the impact of climate change in sectors such as agriculture, while others require funds to develop clean energy sources. 

Tripling initiative

The goal of tripling global renewable energy capacity is expected be included in the agenda for Cop28.

This is in line with the International Energy Agency’s recommendation that the world needs to triple global renewable energy capacity by 2030 if the 1.5 degrees Celsius cap on global warming that was agreed in Paris in 2015 is to still be within reach.

However, this goal needs a clear mechanism to be effective, according to an expert in the renewable energy field.

“There will be a big song and dance around the commitment to tripling solar and wind deployment by 2030, but given there will be no mechanism for holding anyone responsible for it, and for sure there will be no consequence … I cannot see how meaningful such pledges can be,” the expert tells MEED.

Hard issues 

The wider Mena region, which will share the spotlight and scrutiny associated with Cop28, will have to demonstrate a willingness to talk about the reduction of all harmful emissions, not only carbon, says Matthes.

The easiest option is to phase out fossil fuel subsidies, as they encourage energy waste and profit wealthy populations disproportionately.

“How can green ammonia compete with grey ammonia if the gas for the grey ammonia is provided at a fraction of world market prices?” Matthes asks.

Introducing a cost for all harmful emissions is another opportunity that can automatically improve bankability for energy transformation projects. To their credit, the UAE and Saudi Arabia have recently introduced voluntary carbon markets, which are seen as steps in the right direction.

Initiatives to boost energy efficiency across the Mena region should also be part of the conversation. These range from efforts to use air conditioning, cooling and water more discriminatingly; electrify transportation; deploy battery energy storage systems; and increase the decarbonisation of the production, shipping, refining and upstream use of oil and gas.

“The region’s waste of energy should be reduced and eliminated before even thinking about how to produce energy,” says Matthes.

Possible scenarios

Despite promises of inclusivity and productiveness, there is a strong probability that most Cop28 negotiators will get only a fraction of what they hope to take away from the summit.

“In a complex system like the Cop negotiations, we need to be realistic about what can be achieved,” says Matthes. “As we have seen in the past ... the same countries always manage to dilute compromises and block long-overdue and necessary developments.”

A likely post-Cop28 scenario could include an agreement requiring the oil and gas industry to do and spend more to decarbonise their products and operations, share in the financial burden of climate change mitigation, and if possible, curb production. This could avoid the use of wording that proved contentious at Glasgow’s Cop26 when a deal that called for the “phase out” of coal-fired power had to be amended to “phase down” following pressure from some countries. 

Climate change advocates will have to live with the fact that fossil fuels, and their entire supply chain, are not likely to be penalised further or disappear. Major change is unlikely until the world is ready to be fully electrified, or until the fear that halting oil production could cause energy insecurity and economic chaos can be overcome.

The Global North countries will have to weigh the best options to reach their net-zero carbon emission targets by 2050 without risking their economic growth. However, countries such as the UK are in the process of pushing back some of their energy transition targets.

Meanwhile, most Global South countries will continue to bear the brunt of the worsening climate crisis, albeit with some support from top carbon-emitting and wealthy nations.

Rightly or wrongly, this could highlight the merit of Al-Jaber’s preferred pragmatic and inclusive approach to Cop28 in terms of technologies, fuels and the representation of sectors.

“A convergence of interests and the dramatic changes to the status of the global energy transition over the past few years … could help countries find new momentum and solutions that might not have seemed feasible in the past,” says Matthes.

Image: Cop28 president-designate Sultan al-Jaber engages with Pope Francis on driving positive outcomes for climate action. Credit: Cop28

https://image.digitalinsightresearch.in/uploads/NewsArticle/11210573/main.gif
Jennifer Aguinaldo

Register for MEED's guest program now to access this article.

Click here to register
Exclusive from Meed
Related Articles
  • Iranian missiles hit Qatari and Kuwaiti fuel tankers

    1 April 2026

    Iranian missiles have struck fuel tankers in Gulf waters belonging to Qatar and Kuwait, as Tehran continues to target energy, industrial and logistical assets in GCC countries.

    A fuel oil tanker chartered by QatarEnergy, named Aqua 1, was struck by missiles in Qatar’s northern territorial waters in the early hours of 1 April, the company said in a statement.

    “None of the crew members on board were injured, and there is no impact on the environment as a result of this incident,” QatarEnergy said.

    Earlier, on 31 March,  said one of its very large crude carriers, Al-Salmi, caught fire after being hit by an Iranian missile while anchored in UAE waters just outside Dubai.

    The vessel’s crew, with support from UAE authorities, extinguished the fire by 04:26 Kuwait time on 31 March, KPC said. It added that all 24 crew members were safe and that no oil spill or environmental damage occurred.

    “KPC is continuing to assess the damage in coordination with relevant authorities,” the Kuwaiti state energy conglomerate said.

    ALSO READ: Iran strikes Gulf aluminium assets after hits on its steel sector
    https://image.digitalinsightresearch.in/uploads/NewsArticle/16217670/main4010.jpg
    Indrajit Sen
  • One killed and one injured in drone attacks on the UAE

    1 April 2026

    Debris falling from Iranian drones intercepted by the UAE’s air defence systems has killed one person in the emirate of Fujairah and injured another in Umm Al-Quwain in two separate incidents on 1 April.

    A successful interception of a drone by UAE air defence forces resulted in debris falling on a farm in Fujairah, leading to the death of a Bangladeshi national.

    The latest fatality brings the total death toll in the UAE since the start of the US-Israel-Iran war to 12. Most of the deaths have been caused by falling debris following interceptions. Among the deceased are two members of the UAE armed forces who died while performing their duties, as well as a Moroccan civilian contracted by the armed forces.

    The remaining victims were of Bangladeshi, Indian, Nepali, Pakistani and Palestinian nationalities.

    Hours after the Fujairah incident, authorities in Umm Al-Quwain confirmed that an Indian national was injured when debris from an intercepted drone fell in the emirate.

    In a statement posted on its official social media channels, the Umm Al-Quwain government media office said the incident occurred near an industrial facility in the Umm Al-Thuoob area, after air defence systems successfully intercepted an unmanned aerial vehicle (UAV).

    Meanwhile, the latest data from the UAE Ministry of Defence, released on 31 March, showed that air defence systems had engaged 36 UAVs, four cruise missiles and eight ballistic missiles in the previous 24 hours. Cumulatively, authorities said 1,977 drones, 19 cruise missiles and 433 ballistic missiles have been intercepted since the onset of the war on 28 February.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/16218126/main.jpg
    Indrajit Sen
  • Contractors submit Al-Maktoum airport superstructure bids

    1 April 2026

     

    Dubai Aviation Engineering Projects (DAEP) received proposals on 31 March from contractors for three packages covering superstructure works for the first phase of the expansion of Al-Maktoum International airport.

    MEED understands that the selected contractor will undertake superstructure works on three packages:

    • West Terminal and concourse one
    • Concourse two
    • Concourse three

    Construction on these packages began in November last year, when DAEP formally selected a contractor to deliver the substructure works.

    According to an official description on DAEP’s website, the expanded airport’s West Terminal will be a seven-level, 800,000-square-metre facility with an annual capacity of 45 million passengers.

    It will be the second of three terminals at Al-Maktoum International airport, linked to the airside by a 14-station automated people-mover (APM) system.

    In August last year, MEED exclusively reported that DAEP had received bids from firms to build the APM at the airport. 

    The system will run under the apron of the entire airfield and the airport’s terminals. It will consist of several tracks, taking passengers from the terminals to the concourses.

    Four underground stations will be built as part of the first phase. The overall plan includes 14 stations across the airport.

    The airport’s construction is planned to be undertaken in three phases. The airport will cover an area of 70 square kilometres (sq km) south of Dubai and will have five parallel runways, five terminal buildings and 400 aircraft gates.

    It will be five times the size of the existing Dubai International airport and will have the world’s largest passenger-handling capacity of 260 million passengers a year. For cargo, it will have the capacity to handle 12 million tonnes a year.

    Construction progress

    Construction on the first phase has already begun. In May last year, MEED exclusively reported that DAEP had awarded a AED1bn ($272m) deal to UAE firm Binladin Contracting Group to construct the second runway at the airport.

    The enabling works on the terminal are also ongoing and are being undertaken by Abu Dhabi-based Tristar E&C.

    Construction on the project’s first phase is expected to be completed by 2032.

    The government approved the updated designs and timelines for its largest construction project in April 2024.

    In a statement, the authorities said the plan is for all operations from Dubai International airport to be transferred to Al-Maktoum International within 10 years.

    The statement added that the project will create housing demand for 1 million people around the airport.

    In September 2024, MEED exclusively reported that a team comprising Austria’s Coop Himmelb(l)au and Lebanon’s Dar Al-Handasah had been confirmed as the lead masterplanning and design consultants on the expansion of Al-Maktoum airport.

    Project history

    The expansion of Al-Maktoum International, also known as Dubai World Central (DWC), is a long-standing project. It was officially launched in 2014, with a different design from the one approved in April 2024. At that time, it involved building the biggest airport in the world by 2050, with the capacity to handle 255 million passengers a year.

    An initial phase, due to be completed in 2030, involved increasing the airport’s capacity to 130 million passengers a year. The development was to cover an area of 56 sq km.

    Progress on the project slipped as the region grappled with the impact of lower oil prices and Dubai focused on developing the Expo 2020 site. Tendering for work on the project then stalled with the onset of the Covid-19 pandemic in early 2020.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/16215664/main.jpg
    Yasir Iqbal
  • Drone strikes Kuwait International airport

    1 April 2026

    Register for MEED’s 14-day trial access 

    Kuwait International airport was hit by further drone attacks on Wednesday, with strikes on fuel tanks sparking a major fire.

    Kuwait’s state news agency Kuna said the attack caused significant damage to fuel tanks belonging to Kuwait Aviation Fuelling Company. No casualties were reported.

    This was the second reported incident at the airport in recent days. Local media reported that the airport was attacked on 28 March by multiple drones, causing significant damage to its radar system.

    The airport is currently undergoing expansion works that are expected to be completed by 2027, as MEED reported previously.

    Project execution of the second terminal began in 2017, with the completion date pushed back from the original 2022 target.

    The second terminal project consists of three packages.

    These are:

    • Package 1: Main works – $4,329m
    • Package 2: Multistorey car park building, connection roads, bridges and landscaping works – $550m
    • Package 3: Aircraft parking, runways and service buildings – $950m

    Turkiye’s Limak Holding is executing the main works.

    The terminal building was designed by Foster+Partners and Gulf Consult.

    Spanish firm Ineco is providing the project management services for the new terminal building and the airfield.

    The scope of the main package includes the new terminal building, a building for cooling and electricity supply facilities, and a building for the water supply and the future Automatic People Mover (APM) connection to the satellite building.

    The terminal building will be three times the size of the original building and will have 36 boarding gates.

    The building will cover more than 700,000 square metres and have five floors, one of which will be underground.

    It will have the capacity, at maximum service level, for 25 million passengers a year once the first phase has been completed and up to 50 million passengers after further phases are completed.

    The second package of works includes a new car park with approximately 5,000 parking spaces, connected to the new passenger terminal.

    It also includes all new access roads to the airport and landscaping.

    The scope of the third package comprises the main platform, new taxiways and several tunnels, including one under the platform between the terminal building and the future cargo area of the airport.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/16216797/main.png
    Yasir Iqbal
  • Saudi Arabia’s Sadara halts chemical production

    1 April 2026

    Register for MEED’s 14-day trial access 

    Sadara Chemical Company (Sadara), the Saudi Aramco-Dow Chemical joint venture producing petrochemicals and specialty chemicals, has announced a temporary shutdown of production, citing ongoing supply chain disruptions.

    Sadara operates a sprawling chemical production complex in Jubail in Saudi Arabia’s Eastern Province, with a total output capacity of more than 3 million metric tonnes a year. Aramco and Dow established the Sadara petrochemicals complex – estimated to have cost $13bn – in 2016.

    The suspension was announced in a filing on the Saudi Exchange (Tadawul) by Sadara Basic ​Services, which issues sukuk, or Islamic bonds, ​for its parent. “The shutdown was successfully completed in accordance with Sadara’s high safety standards and in a manner that safeguards operations and reduces risk,” the entity said in its filing on 31 March. 

    “Sadara cannot provide, at the present ‌time, ⁠an estimate for the return to production, as this is contingent on domestic and international factors,” it said, ​adding ​the shutdown ⁠is expected to impact this year’s financial results.

    The month-long war between Israel, the US and Iran has spread across the Middle East, disrupting energy supplies and threatening the global economy, as Tehran has responded to US and Israeli attacks by targeting regional energy and industrial infrastructure, as well as shipping.

    ALSO READ: Sultan Al-Jaber calls Strait of Hormuz blockade “economic terrorism”

    Separately, Sadara, in another Tadawul filing on 31 March, announced a net loss of SR5,793bn ($1.54bn) for the full year 2025, a further decline of about 40% compared to 2024. The company’s revenue in 2025 fell by about 15% year-on-year to $2.63bn.

    The chemicals producer attributed the deepening of its losses in 2025 to a reduction in sales volumes, “which resulted from unplanned operational events and extended maintenance activities that temporarily impacted production availability”.

    Sadara also pinned its augmented losses to “margin compression, and higher fixed costs associated with unplanned operational events and extended maintenance activities.

    “In addition, the company experienced lower average selling prices across certain portfolio lines, which further contributed to the overall decrease in revenue,” Sadara said in the disclosure.

    In addition, “the net loss for 2025 increased compared to 2024, mainly due to an accounting adjustment related to a debt modification that had a favourable impact on the prior year’s results,” the company added.

    ALSO READ: Sabic registers $6.87bn net loss in 2025

    https://image.digitalinsightresearch.in/uploads/NewsArticle/16215635/main2446.jpg
    Indrajit Sen