"Currently, 55 countries have officially joined the initiative to increase renewable energy capacity globally, but this number needs to grow," COP28 President Sultan Ahmed Al-Jaber said during his final speech in this role at the opening ceremony of COP29, APA reports.
He stated that at this stage, companies from the U.S., the UAE, the Gulf countries, and other regions have joined the decarbonization initiative: "I am delivering my final speech here. I extend my gratitude to the entire UN team in this role. Over the months following COP28, the actions we have implemented have shown that the world is ready to expand the potential of renewable energy. Currently, 55 countries have officially joined this initiative. This is based on real initiatives. Companies from the U.S., the UAE, the Gulf countries, and other regions have set an example by joining the decarbonization initiative. If different sectors operate in cooperation with each other, we can achieve broader and more effective results in combating climate change. The most critical factor here is the development and implementation of effective financing mechanisms. Investments channeled into this area have raised $853 million for the Fund for Responding to Loss and Damage. During COP28, we successfully created a number of important precedents. The roadmap adopted there will drive progress toward the 1.5-degree target. The consensus reached in Dubai can be called historic, yet we need to do more."
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