During the United Nations Climate Change Conference in Dubai (COP28), UAE and Saudi Arabia jointly launched the Oil and Gas Decarbonization Charter, aiming to accelerate climate action and exert greater influence on the oil and gas industry.

Fifty energy companies, accounting for more than 40% of global oil production, have signed this charter. Sultan Jaber, chairman of the United Nations Climate Change Conference in Dubai, said that the launch of the charter was only the first step, with many national oil companies accepting the goal of achieving net-zero emissions by 2050 for the first time. We need the entire oil and gas industry to work together to achieve the goal of limiting global warming to 1.5 degrees Celsius.