Open figure viewer
Significance
The move is the latest of the UAE’s attempts to portray itself as a supporter of action against climate change ahead of its hosting the COP28 global climate summit. Climate change activists have criticised the role of the UAE because it is a significant producer of fossil fuels.
Impacts
Activists will strengthen their messaging during the meeting and could disrupt some of the sessions.
Green energy companies could benefit from UAE largesse in the build-up to the conference.
The message that reliance on hydrocarbons will continue for several decades could gain reluctant acceptance.
The oil lobby will emphasise the need to decarbonise oil and gas production, while moving towards green energy.
© Oxford Analytica 2023. All rights reserved. This content contains general information about geopolitical, macroeconomic and social developments or (where stated) other matters. It does not contain advice or recommendations that may be relied on. Where links to external websites are provided, this does not indicate that Oxford Analytica or Emerald agree with, endorse or have checked for accuracy the contents of said sites.
2023
You do not currently have access to this content.
