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COP28 UAE: Everything You Must Know About Global Decarbonisation Accelerator (GDA)

 

The COP28 Summit in Expo City Dubai, UAE, will take place from November 30 to December 12. The event has seen a historic agreement to operationalize the Loss and Damage Fund. COP28 President Sultan Al Jaber, who is also the Minister of Industry and Advanced Technology, head of the Abu Dhabi National Oil Company, and chairman of Masdar, unveiled the Global Decarbonisation Accelerator (GDA), a comprehensive plan designed to accelerate the energy transition and reduce global emissions.

The GDA focuses on three key pillars: rapidly scaling the energy system of tomorrow, decarbonising the energy system of today, and targeting methane and other non-CO2 greenhouse gases. 116 countries have signed the Global Renewables and Energy Efficiency Pledge, committing to triple renewable energy generation capacity and double the global average annual rate of energy efficiency improvements by 2030.

50 companies have signed the Oil and Gas Decarbonisation Charter, aligning with the 2015 Paris Agreement’s goals. More than $1 billion is set to be mobilized for methane abatement projects. Al Jaber expressed optimism about the GDA, stating that it adds up to more countries and companies from more sectors than ever before.

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