Juan Brignardello Vela
Juan Brignardello, asesor de seguros, se especializa en brindar asesoramiento y gestión comercial en el ámbito de seguros y reclamaciones por siniestros para destacadas empresas en el mercado peruano e internacional.
Economía y Finanzas 01.12.2023
Sultán Al Jaber at COP28: the controversial appointment of an oil CEO at the helm of the UN climate change conference. The selection of the CEO of the Abu Dhabi National Oil Company (Adnoc), the state-owned oil company of the United Arab Emirates, to lead the summit has sparked controversy and raised doubts among activists and experts.
Ever since the announcement was made, the presidency of the 28th Conference of the Parties (COP28) has caused a bewildering uproar among those dedicated to ending fossil fuels. Not only is Sultan Ahmed Al-Jaber the president of the most influential convention on climate change, but he is also the director of Adnoc, the state-owned oil company of the United Arab Emirates.
It was during COP27 in Egypt that the world received the news. For many activists, scientists, and politicians, it was a clear indication of what was to come. "It signified a clear direction from oil-producing countries, and mainly the United Arab Emirates, that energy security still requires us to focus on oil and gas and exert less pressure to eliminate fossil fuels," says Jain Shravya, Middle East Director at the Natural Resource Governance Institute (NRGI).
Just a few months had passed since the outbreak of the war between Ukraine and Russia, which not only devastated a country, displaced people, and caused deaths but also led to a nearly $200 increase in the price of a barrel of oil and a doubling of natural gas prices.
Russia, one of the major fuel suppliers to Europe, had turned off the energy tap, causing desperation among the affected governments. "It was a shock to the global economy and the European economy, which was one of the main drivers of an energy transition agenda," adds Shravya.
There was panic and a flurry of proposals: from sharing showers and turning off water heaters to revisiting abandoned oil projects and relaxing discussions on energy transition. The debate on energy security was brought back to the table, overshadowing the discussion on mitigation.
That's when Al Jaber, the new Emirati CEO, stepped in, embarking on a months-long journey to convince the world that, despite his position and history as a promoter of oil, he would make significant progress under his presidency of the environmental summit. In his opening speech at COP28, he spoke of open-mindedness, flexibility, and, for the first time, the need to include energy companies - fossil fuel companies - in climate discussions.
"It wasn't easy, but today, many of these companies are committed to zero methane emissions by 2030 and carbon neutrality targets by 2050 for the first time, and I am grateful that they have decided to join this journey. But I must also say that it is not enough, and they can do much more. They can lead the way, and that will ensure that others follow," he said in the massive Expo Dubai building.
According to a report published on Thursday by the World Meteorological Organization, 2023 is on track to be the hottest year ever recorded and one with the highest concentration of greenhouse gases. Environmental organizations and delegations from the most vulnerable countries to the effects of the climate crisis demanded that governments worldwide phase out fossil fuels.
"That's why the appointment of the Sultan, CEO of the national energy company and a major advocate for the hydrocarbon industry, as the president of COP is clearly controversial," explains Rodrigo Rodríguez Tornquist, former Secretary of Climate Change in Argentina.
The Argentine representative was not the only one to question the appointment of an oil executive to head the negotiations for the end of fossil fuels, which sparked a wave of criticism among officials and international media. However, some experts pointed out that it could open up possibilities that were previously unthinkable.
Al Jaber's strategy is not to be remembered as the "oil president" of COP but as the president who managed a historic conference. And since the opening ceremony, he has demonstrated this intention. In just minutes, he announced the consolidation of the fund for losses and damages caused by extreme weather events and was the first to contribute $100 million to it. "In less than a few hours, we managed to raise over $400 million," he celebrated at a press conference, referring to the contributions, mostly from the European Union and the United Kingdom, with smaller contributions from Japan and the United States.
By the end of the conference, Al Jaber hopes to have achieved most of the set objectives. This includes tripling the capacity of renewable energy, a clear definition of Adaptation Goals, fulfilling financing commitments, and reassessing new climate action targets after the global balance is discussed in the coming days. According to Shravya, more than a deep conviction, the Sultan is seeking to position himself and have geopolitical influence.
"They don't want to fail at COP28; they want everyone to remember this COP as successful, not only in logistical terms. They want to be influential, especially in how it could shape the energy world," details Shravya.
From Oil CEO to Climate Negotiator
Al Jaber was born just two years after the United Arab Emirates, a territory controlled by the United Kingdom until 1971. "When they gained their independence, they had other types of jobs like fishermen, Bedouins, they led a very basic life, and with the money from oil and gas, they had the development to reach where they are today," describes Shravya.
Al Jaber grew up in the splendor of this booming oil nation and witnessed a city rise in the desert, saturated with luxury. He spent several years away from the UAE studying chemical engineering and then business abroad. When he returned, he wanted to build his first major company in that same desert, and it had nothing to do with oil. Masdar, a company in which the Sultan still has a seat,
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