ADNOC CEO: Pragmatic Approach Needed for Climate Action

UAE's Minister of State and CEO of the Abu Dhabi National Oil Company (ADNOC) Sultan ahmed al-Jaber speaks during the opening ceremony of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in Abu Dhabi on November 11, 2019. (File photo: AFP)

ADNOC (Abu Dhabi National Oil Co) Chief Executive Sultan Ahmed al-Jaber on Saturday; stressed the importance of oil and gas in meeting energy requirements. He also 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.