Pragmatic approach needed for climate action; oil, gas remain important: ADNOC CEO

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Abu Dhabi National Oil Co (ADNOC) Chief Executive Sultan 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.

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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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