Global climate negotiators, civil society groups, entrepreneurs and journalists will descend on Dubai’s Expo City in November for the 28th Conference of the Parties (Cop28) to the UN Framework Convention on Climate Change, putting the UAE at the centre and in charge of the annual climate talks.

UAE Vice President, Prime Minister and Ruler of Dubai, Mohammed bin Rashid al-Maktoum, has said Cop28 is the most important event the UAE will host in 2023. It is hard to argue otherwise.

Under the auspices of a state whose wealth was built for the most part on oil, negotiators will lock horns over the policies, technologies and funding platforms best placed to enable climate mitigation and adaptation, and to wean the world off fossil fuels.

The UAE says it is well-positioned to lead the talks. Economically, the country is affluent but only recently developed, which means it can understand the concerns of both the established countries of the Global North and the emerging economies of the Global South. It can also bridge the political divide between east and west, a fissure that has widened following Russia’s invasion of Ukraine. 

Crucially, the UAE sees an important role for hydrocarbons in an orderly transition – an unpalatable argument for many climate change activists. 

The March 2023 issue of MEED Business Review looks at how the UAE, despite its oil legacy, can bring countries with contrasting agendas to the Cop28 negotiating table.

This month’s industry report on upstream oil and gas includes analysis on the large investments being made by regional hydrocarbons producers to raise output, and the rebound of exploration activity.

Our 15-page special report on Egypt, meanwhile, finds the country entering a phase of heightened uncertainty as it faces up to evolving economic realities.

We hope our valued subscribers enjoy the March 2023 edition of MEED Business Review. 

Must-read sections in the March 2023 edition of MEED Business Review include:

> AGENDA: Cop28 focuses energy transition spotlight on UAE

> CLEAN ENERGY: Low-carbon fuels as the next LNG

> LOW-CARBON FUTURE: Tech and teamwork critical to climate change progress

> MEED COMMENTS: 

    > New railway could bypass Suez Canal

    > PPP to end looming metro drought

    > Neom hydrogen could reshape energy landscape

    > Masdar gets started on 100GW target

> OPINION: Learn from history or be doomed to repeat it

> JANUARY 2023 CONTRACTS: Region begins the year with a flourish

> INTERVIEW: Saudi offtaker navigates turbulent times

> IRAQ: Qatar and Total could turbocharge Iraq’s energy sector

> INDUSTRY REPORT: Energy security facilitates upstream spending

> INTERVIEW: Wood targets rapid growth in Saudi, UAE and Qatar

> SAUDI CONSTRUCTION: International firms return to Saudi construction

> DUBAI INTERNATIONAL FINANCIAL CENTRE: DIFC focuses on expansion after record results

> TOP 6 NUCLEAR PROJECTS: Top nuclear projects to watch this year

> EGYPT MARKET FOCUS: Egypt enters phase of heightened uncertainty

> MARKET SNAPSHOT: GCC 2023 planned awards

> GULF PROJECTS INDEX: Gulf projects market dips as GCC sheds value

> BUSINESS OUTLOOK: Finance, oil and gas, construction, power and water contracts