COP28: The United Nations Climate Change Conference
The United Nations Climate Change Conference (COP28) successfully concluded on 13 Dec 2023. Keppel joined forces to advance the UAE Consensus and the global goal of limiting warming to 1.5°C by 2050.
The stocktake indicates global GHG emissions, based on science, need to be cut 43% by 2030 vs 2019 levels. It notes the world is off-track on 1.5°C scenario, and calls on Parties to come forward with more ambitious, stronger climate action plans by 2025.
To this end, Keppel has forged new partnerships with below esteemed, like-minded partners at the COP28 held in Dubai, UAE. The areas of focus are squarely in line with the landmark UAE Consensus.
We are committed to work hard at these and look forward to update on the progress in the coming months, ahead of COP29.
Tripling of energy recovery from waste capacity and doubling energy efficiency improvements by 2030:
Keppel (Infrastructure Division) and Masdar (Abu Dhabi Future Energy Company) will collaborate on selected utility-scale renewable projects including energy storage and grid transmission systems, and large scale floating solar photovoltaics systems in Singapore and S.E.A region.
Mobilising climate funds and catalysing new, innovative sources of transition financing:
Keppel (Infrastructure Division) and GenZero will jointly explore the use of transition credits – a new asset class of carbon credits generated by phasing out high-emitting assets like Coal-Fire Power Plants and replacing with clean energy sources.
Accelerating efforts towards net-zero emission energy systems and transition away from fossil fuels:
Keppel (Infrastructure Division) and AM Green Group, Greenko Group will collectively spur the production of biogenic carbon-based sustainable fuels, such as bio and green methanol, 2G ethanol and SAF in India and the region, which can serve as substitutes for fossil fuels.
Lots of gratitude for all involved for their collaboration and dedication.
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