COP28, to be held this November in Dubai, must foster trust among countries hardest hit by climate change to bring the global climate goals back on track, said Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and the President-Designate for the event.

Addressing the Petersberg Climate Dialogue in Berlin on Tuesday, he said it is high time developed countries delivered the commitments they had made to aid developing countries in reaching their climate targets, and the credibility of COP28 climate talks rests on restoring trust between countries.

“Developing countries are still waiting for the $100 billion promised by developed countries 14 years ago. At COP28, I expect ambitious, transparent, and accountable commitments from countries and businesses that will shape policies in parliaments and budgets in boardrooms,” he said.

He added that as per the latest report, the world was nowhere near the 43% reduction of emissions by 2030 target, and Dubai’s COP28 needs to be a pivotal point in achieving these goals.

“We have no choice but to get real now. “We must unite and seize the moment of the Global Stocktake to put the world on the right track to meet the goals of the Paris Agreement,” he said.

Speaking about climate finance, he said, “In my meetings with climate, finance, and development ministers across the global south, what I hear time and again is that climate finance is simply not available, not accessible, and not affordable.”

The President-designate for COP28 also reaffirmed the country’s commitment to phasing down fossil fuels and scaling up renewable energy.

He said, “We will accelerate delivery in sectors like renewables that must triple capacity by 2030 and double it again by 2040. We will encourage smart government regulation to jump-start the hydrogen value chain and make carbon capture commercially viable.”