COP28 President-Designate Dr. Sultan Al Jaber has emphasised the integral role the oil and gas industry plays in solving the climate challenge during keynote remarks at Houston energy event CERAWeek.

Speaking at the plenary on the first day, Dr. Al Jaber explained energy leaders had the knowledge, experience, expertise and the resources needed to address the dual challenge of driving sustainable progress while holding back emissions.

He said: “Let me call on you today to decarbonise quicker, future-proof sooner, and create the energy system of the future, today.

“Alongside all industries, the oil and gas sector needs to up its game, do more and do it faster.

“By 2030, there will be an extra half a billion people living on this planet, demanding more energy every year.

At the same time, the world needs to cut emissions by 7 per cent each year to keep 1.5 alive- that’s 43 per cent in less than seven years.

“This is a global challenge that calls for global solutions from every stakeholder acting in unity and solidarity.”

“This year, the world will evaluate exactly where we are when it comes to climate progress through the first Global Stocktake, and we know we are way off track – we need a major course correction.

“To echo the two most famous phrases of this city, first we need to recognize ‘Houston… we have a problem’, and then we need to agree that ‘failure is not an option’.”