World Future Energy Summit in Abu Dhabi draws massive interest

General view of the Abu Dhabi city is seen from observation deck of Emirates Towers in Abu Dhabi, United Arab Emirates, December 23, 2018. (REUTERS)
Short Url
Updated 13 January 2020

World Future Energy Summit in Abu Dhabi draws massive interest

  • Many onsite temporary structures, such as the registration area, have been built using sustainable or recycled materials

JEDDAH: The World Future Energy Summit opens at the Abu Dhabi National Exhibition Centre on Monday, with around 35,000 people expected to attend from 170 countries.
The four-day event, which is the largest of its kind according to organizers, will include exhibition and forum programs addressing energy, solar, water, waste and smart cities.
There will also be a focus on clean energy generation, water sustainability, and how digital innovation can help to improve the quality of life in an urban environment.
Held alongside the energy summit are the Climate Innovations Exchange (CLIX) and the Future Sustainability Summit.
CLIX returns for its third edition and will showcase 42 of the world’s most disruptive innovations, selected from 1,402 global submissions from 128 countries, related to the future of energy, food, agriculture and sustainability in space.
The Future Sustainability Summit is being held under the theme “Rethinking Global Consumption, Production, and Investment.”
It brings together more than 1,000 delegates and 90 speakers, including music star and philanthropist Akon, the president of Rwanda and the prime minister of Bangladesh.
Registration is paperless, while badges, lanyards and bags are biodegradable.
Many onsite temporary structures, such as the registration area, have been built using sustainable or recycled materials.
Recycling bins will be placed in selected areas along the concourse, and there will be no plastic in the exhibition center’s restaurants.

 

 


Big oil feels the heat on climate as industry leader promises: ‘We will be different’

Updated 57 min 11 sec ago

Big oil feels the heat on climate as industry leader promises: ‘We will be different’

  • Trump singles out ‘prophets of doom’ for attack
  • Greenpeace told the Davos gathering that the world’s largest banks, funds and insurance companies had invested $1.4 trillion in fossil fuel companies since the Paris climate deal

LONDON: Teenage environmental activist Greta Thunberg slammed inaction over climate change as the global oil industry found itself under intense scrutiny on the opening day of the World Economic Forum in Davos.

The teenage campaigner went head to head with US President Donald Trump, who dismissed climate “prophets of doom” in his speech.
She in turn shrugged off the US president’s pledge to join the economic forum’s initiative to plant 1 trillion trees to help capture carbon dioxide.
“Planting trees is good, of course, but it’s nowhere near enough,” Thunberg said. “It cannot replace mitigation. We need to start listening to the science and treat this crisis with the importance it deserves,” the 17-year-old said.
The 50th meeting of the World Economic Forum was dominated by the global threat posed by climate change and the carbon economy.
The environmental focus of Davos 2020 caps a year when carbon emissions from fossil fuels hit a record high, and the devastating effects of bushfires in Australia and other climate disasters dominated the news.
Oil company executives from the Gulf and elsewhere are in the spotlight at this year’s Davos meeting as they come under increased pressure to demonstrate how they are reducing their carbon footprint.
“We are not only fighting for our industry’s life but fighting for people to understand the things that we are doing,” said Vicki Hollub, CEO of Occidental, the US-based oil giant with extensive oil operations in the Gulf. “As an industry when we could be different — we will be different.”

‘Planting trees is good, but nowhere near enough,’ activist Greta Thunberg told Davos. (Shutterstock)

She said the company was getting close to being able to sequester significant volumes of CO2 in the US Permian Basin, the heartland of the American shale oil industry which is increasingly in competition with the conventional oil producers of the Arabian Gulf.
“The Permian Basin has the capacity to store 150 gigatons of CO2. That would be 28 years of emissions in the US. That’s the prize for us and that’s the opportunity. People say if you’re sequestering in an oil reservoir then you are producing more oil, but the reality is that it takes more CO2 to inject into a reservoir than the barrel of oil that it makes come out,” Hollub said.
The challenge Occidental and other oil companies face is to make investors understand what is happening in this area of carbon sequesteration, she added.
The investment community at Davos is also looking hard at the oil industry in the face of mounting investor concerns.
Greenpeace told the Davos gathering that the world’s largest banks, funds and insurance companies had invested $1.4 trillion in fossil fuel companies since the Paris climate deal. It accused some of these groups of failing to live up to the World Economic Forum goal of “improving the state of the world.”