May 21, 2024
OPEC, others acknowledge climate change as one of the greatest challenges with impact on nations
JUST IN: OPEC+ raises Nigeria’s quota to 1.830 million bpd
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OPEC, others acknowledge climate change as one of the greatest challenges with impact on nations

.As First Ministerial Roundtable ends

By Eyo Nsima

The Organisation of Petroleum Exporting Countries, OPEC, and other stakeholders have identified climate change as one of the greatest challenges with a negative impact on both developed and developing countries.

In a statement obtained by The Daily, www.thedaily-ng.com, OPEC, stated at the end of the First Ministerial Roundtable on Energy, Climate and Sustainable Development, held Monday, September 6, 2021, via videoconference, that, “The meeting was held under the framework of the Charter of Cooperation (CoC) and provided an engaging platform for discussions on key issues related to the energy industry, including global efforts focused on addressing climate change in the context of sustainable development.

“It was attended by ministers, senior officials, high-level decision and policymakers, and industry experts from OPEC Member Countries and non-OPEC oil-producing countries participating in the CoC, India and many other international organizations, including APPO, AEC, AFREC, ARDA, GECF, IEF and OAPEC.

“The meeting facilitated the exchange of knowledge and expertise on emerging challenges and opportunities arising from the implementation of climate mitigation and adaptation actions.

“The meeting recognized that energy plays a key role in contributing significantly to the achievement of the Sustainable Development Goals (SDGs), especially SDG7, at a time when billions of people in developing countries are deprived of access to reliable and affordable modern energy.

“The meeting acknowledged that climate change is one of the greatest challenges of our time and its impact is felt by both developed and developing countries, and the livelihoods of populations.

“The meeting highlighted the need to use all sources of energy, all available technologies, such as carbon capture, utilization and storage (CCUS), as well as the promotion of the Circular Carbon Economy (CCE) platform, for the attainment of SDG7 and emission reductions.

“The meeting stressed the need for a balanced, inclusive and a multilateral approach to enhance global efforts to achieve objectives related to climate change and sustainable development, and the need to embrace the principles of equity and ‘common-but-differentiated responsibilities and respective capabilities’.

“The meeting emphasized the need to provide adequate, predictable and fair support to developing countries to enhance their adaptation and mitigation actions.”

It also noted that, “The meeting underscored the importance of international cooperation, dialogue and multilateralism to address the global challenge of climate change in the pursuit of sustainable development objectives and efforts to eradicate energy poverty, in light of national circumstances and capabilities.

“The meeting highlighted that the oil industry possesses the expertise and technologies to support sustainable energy systems and should be an integral part of innovative and sustainable solutions to climate change.”

It added: “The participants additionally discussed various topics, including the ‘Saudi Green Initiative’ and the ‘Middle East Green Initiative’ introduced by the Kingdom of Saudi Arabia, as well as the latest developments and critical issues related to COP26 planned for 31 October to 12 November in Glasgow, UK and the UN High-level Dialogue on Energy scheduled to take place on 24 September 2021.”

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