The planet is in a perilous position. Figures released in the lead-up to COP28 from PwC’s Net Zero Economy Index present a stark reality: to cap global warming at 1.5°C above pre-industrial levels, an annual global decarbonization rate of 17.2 percent is essential. From 2000 to 2022, the world achieved an average decarbonization rate of just 1.4 percent, and last year, managed only 2.4 percent.
Expectations were low and there was much international cynicism that progress could be made in the UAE, particularly under the presidency of a major national oil company’s CEO.
