As the United Nations’ climate talks reach a crescendo, business leaders are hoping that discussions will facilitate further growth in sustainable technologies.
At stake at this year's convention on climate change in Dubai is whether world leaders will agree to ‘phase out’, or simply continue to ‘phase down’, fossil fuels.
Climate negotiations reached boiling point on Friday, as many countries pushed for fossil fuels to be phased out, after COP 28 president Sultan Ahmed Al-Jaber claimed there was no science behind such action keeping global warming within agreed limits.
UN Climate Change Executive Secretary Simon Stiell pleaded with negotiators on Friday to keep pledges to limit global warming within 1.5 degrees Celsius alive.
“It’s go-time for governments at COP28 this week,” Stiell said. “If we want to save lives now, and keep 1.5 within reach, the highest ambition COP outcomes must stay front and center.”
Aldo Boitano, Chief Executive Officer at CleanTech Lithium PLC (AIM:CTL, OTCQX:CTLHF), said in the build-up to this year’s negotiations: “We are reminded of the urgent need for transformative actions to combat rising global emissions.
“While recent figures underscore the challenges we face, they also underscore the imperative for accelerated and innovative solutions.
“To curb further emissions and slow the rate of climate change, a holistic approach is needed. Investments in transformative technologies, sustainable energy sources, and collaborative international initiatives are crucial.”
Cleantech Lithium produces and supplies lithium, extracted using sustainable techniques, for use in electric car batteries.
“We believe that fostering advancements in clean energy infrastructure, coupled with strategic investments, will play a pivotal role in reaching global emissions reduction targets faster,” said Boitano.
“At CleanTech Lithium, we are dedicated to innovation, collaboration and responsible resource development and we look forward to the prospect of a global consensus that propels us collectively toward a cleaner, more sustainable world in my lifetime and generations to come.”
This year is expected to be the warmest on record, and if the world stands any chance of decarbonising then all leaders must be involved, including those from emerging nations, another cleantech industry leader told Proactive.
In order to achieve the aims of COP28, countries must show “unity” and increase the use of renewables as fast as possible while reducing reliance on gas, the person added.
One of the cheapest forms of renewable power is solar energy, where costs have fallen 90% over the past 13 years.
The UK needs to install 70 GW of solar power capacity by 2035, up from 15 GW in 2023, as part of a diversified strategy, to hit its net-zero targets.
“A collaborative effort [is needed],” said the person, who is familiar with the COP negotiations.
“The best outcome is unity. It is always developed nations which talk about [reducing emissions, if] we need to do this the real difference is emerging and frontier markets."
The calls for a greater and renewed focus on sustainable development and clean technologies come as two companies in the cleantech industry told Proactive that they declined to attend this year’s COP 28.
These decisions were made partly to save on emissions, though both companies said they had a presence at previous negotiations.
This year’s conference in Dubai has been accused of failing to support SMEs.
The pleas follow news that the UK had not recruited a climate envoy to represent the UK’s interests at COP 28 this year.