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ADNOC CEO: Pragmatic Approach Needed for Climate Action

ADNOC CEO: Pragmatic Approach Needed for Climate Action

Saturday, 23 October, 2021 - 08:30
Saudi Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz Al Saud and minister of state for the United Arab Emirates Sultan Ahmed Al Jaber attend the Saudi Green Initiative Forum to discuss efforts by the world's top oil exporter to tackle climate change in Riyadh, Saudi Arabia, October 23, 2021. REUTERS/Ahmed Yosri

Abu Dhabi National Oil Co (ADNOC) Chief Executive Sultan Ahmed al-Jaber on Saturday stressed the importance of oil and gas in meeting energy requirements and said climate action should not be an economic burden on developing nations.

Jaber, who is also the United Arab Emirates’ minister of industry and advanced technology, told the Saudi Green Initiative that the world had “sleepwalked” into a supply crunch after a “serious” reduction in investment in hydrocarbons in the past seven to eight years.

He said a “one size fits all approach” will not work in global efforts to tackle climate change, calling for pragmatism.

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