Dr. Mohammed bin Mubarak Bin Daina, Minister of Oil and Environment and Special Envoy for Climate Affairs, participated in the 14th IEA-IEF-OPEC Symposium on Energy Outlooks.
The symposium discussed the government’s current policies regarding the main trends of the continuous developments that the market is experiencing today and exchanged opinions and proposals to support global market stability.
Dr. Bin Daina emphasised the importance of improving cooperation between oil-producing countries to unify efforts and strategic endeavours to enhance energy security, as well as encouraging investment in exploration and production projects to meet the increasing energy demand resulting from the increase in the population.
He affirmed the importance of renewable energy sources, research, development, and training to enhance energy efficiency.
The minister said that the Gulf Cooperation Council (GCC) plays an important role in maintaining global energy security and strengthening joint efforts to maintain a steady supply and demand of oil.
The minister highlighted the positive results of the 28th Conference of the Parties of the United Nations Framework Convention on Climate Change (COP28), which took place in Dubai, among which are: addressing fossil fuel impacts and limiting average temperature rises to 1.5 C, launching the Alterra Climate Investment Fund, as well as supporting carbon neutrality.
He affirmed the GCC’s commitment to clean energy and is working to reduce carbon dioxide emissions and reach carbon neutrality by 2060 through a variety of environmental initiatives.
The symposium covered a wide variety of relevant topics, such as energy security, technology, sustainability, and analysis of forecast results from the International Energy Agency, trade and investment in energy security and market stability; as well as policies and incentives to achieve common goals in the energy market.
BNA(R)
