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The global energy sector increasingly calls for a shift from fossil-based systems to renewable energy sources.

A series of high-level discussions between global energy makers before the COP28 Summit was recently held in Goa, India.

The meeting was co-led by Dr. Sultan Al Jaber, the designated President of the summit and UAE Minister of Industry and Advanced Technology, and Dr. Fatih Birol, Executive Director of the International Energy Agency.

“COP28 represents a milestone opportunity for the world to come together, unite around decisive action, and drive progress towards keeping the goals of the Paris Agreement alive and 1.5c within reach,” said Al Jaber.

Under the Paris Agreement, countries agreed to mitigate climate change by limiting temperature increase to 1.5c above pre-industrial levels.

Al Jaber calls for a collective effort from relevant stakeholders, including the energy industry.

“Building a new energy system can only happen at speed and scale with united action on the supply and the demand sides together,” he noted.

The high-level dialogues will bring public and private sector energy decision-makers under the framework of a COP summit for the first time, the minister said. The gathering will “help redesign the relationship between policymakers, the biggest energy producers, and the biggest industrial consumers.”

“This is one of my presidency’s key priorities and will be a crucial step in building consensus on how best to deliver the energy system of the future,” Al Jaber said.

Birol also echoed Al Jaber’s note on stakeholders’ significant role. “Every stakeholder must play their part – including oil and gas producers, which need to set out and deliver on aggressive targets to cut their emissions by 2030.”

The IEA has planned a “comprehensive energy package” to help COP28 become a success, added Birol.

“This includes tripling global renewables capacity, doubling energy efficiency progress, slashing emissions from the oil and gas industry, boosting clean energy finance for developing economies, redirecting fossil fuel investment into clean energy and putting fossil fuel demand into sharp decline.”

The dialogue occurred on the sidelines of the 14th Clean Energy Ministerial, alongside the G20 Energy Transitions Ministerial Meeting.