DUBAI: The United Arab Emirates said on Thursday that Sultan Al-Jaber, the head of state oil giant ADNOC, would act as president of the COP28 climate conference it is hosting this year.
Jaber, also UAE’s minister of industry and technology and its climate envoy, will help develop the COP28 agenda and play a central role in intergovernmental negotiations to build consensus, his office said in a statement.
The UAE, a major OPEC oil exporter, will be the second Arab state to host the climate conference after Egypt hosted the United Nations Framework Convention on Climate Change’s (UNFCCC) 27th Conference of the Parties (COP 27) in 2022.
As founding CEO of Abu Dhabi’s renewable energy firm Masdar, in which ADNOC has a 24 percent stake, Jaber has green credentials having overseen its mandate to adopt renewables in the UAE.
He is also overseeing an acceleration of ADNOC’s low-carbon growth strategy approved late last year.
The UAE and other Gulf energy producers have called for a realistic energy transition in which hydrocarbons would continue playing a role to ensure energy security while making commitments to decarbonization.
Demands from environmental groups and scientists that government and companies leave oil and gas in the ground have gained less traction since Russia’s invasion of Ukraine last year and Europe’s scramble for energy security.
The UAE, the first country in the region to ratify the Paris Agreement, has committed to reach net zero emissions by 2050.
The COP28 conference will be the first global stocktake since the landmark Paris Agreement in 2015.
Jaber, who according to the statement, would be the first CEO to serve as COP president, said the UAE would bring “a pragmatic, realistic and solutions-oriented approach” to the conference.
“We will take an inclusive approach that engages all stakeholders.”
UAE names ADNOC chief Jaber as COP28 climate conference president
https://arab.news/95uyh
UAE names ADNOC chief Jaber as COP28 climate conference president
- The COP28 conference will be the first global stocktake since the landmark Paris Agreement in 2015
- Jaber is overseeing an acceleration of ADNOC’s low-carbon growth strategy
Oman’s MSX leads GCC equity markets in 2025: Kamco Invest
RIYADH: Oman’s Muscat Securities Market emerged as the best-performing index in the Gulf Cooperation Council region in 2025, rising 28.2 percent year on year, according to an analysis by Kamco Invest.
In its latest report, the financial firm said the MSX 30 Index closed the year at 5,866.8 points, marking one of the strongest annual performances among GCC markets.
According to the analysis, the index reached its annual peak at 5,985.66 points in mid-December, while its lowest level was 4,223.83 points in early April, reflecting a 38.9 percent recovery from the year’s trough.
Developing a robust capital market ecosystem remains crucial for GCC countries as they pursue economic diversification efforts to reduce dependence on oil revenues.
“The aggregate MSCI GCC index reported a gain of 1.6 percent during the year despite largely positive performance at the country level. At the exchange level, Oman witnessed the biggest gains during the year with a double-digit surge of 28.2 percent,” said Kamco Invest.
The report added that Boursa Kuwait ranked as the second-best-performing market in the GCC, posting gains of 21.2 percent during the year.
The Abu Dhabi Securities Exchange advanced 6.1 percent, while the Dubai Financial Market climbed 17.2 percent, supported by selective strength in real estate and services stocks.
The Qatar Exchange recorded a marginal increase of 1.8 percent, while the Bahrain Bourse rose 4.1 percent in 2025.
Despite a 12.8 percent decline, Saudi Arabia dominated regional listings activity during 2025.
The Kingdom saw 13 companies debut on the Tadawul All Share Index, along with two transfers from the parallel Nomu market to the main market. In addition, 28 companies were listed on the Nomu market.
Flynas was Saudi Arabia’s largest initial public offering in 2025, raising SR4.1 billion ($1.1 billion) in one of the region’s biggest aviation listings.
Other notable IPOs during the year included Umm Al Qura for Development & Construction Co., Specialized Medical Co., Derayah Financial Co., and Dar Al Majed Real Estate Co.
“At the sector level, the yearly performance (in the region) was skewed toward decliners with over 30 percent fall in Utilities, Insurance and Consumer Durable indices. On the gainers side, Telecom, Banks and Diversified Financials indices showed double gains that offset the overall weakness,” added Kamco Invest.
