NILEPET Managing Director Eng. Bernard Amour addresses a press conference in Juba. Wednesday, December 6, 2023. (Photo: Awan Moses)

Nile Petroleum Corporation Managing Director said the oil firm will soon develop a new business strategy to align itself with the global community regarding carbon emission reduction by 2050 or beyond.

Eng. Bernard Amour jetted back to the country on Wednesday from Dubai where he attended the United Nations Climate Change Conference – COP28.

Addressing a press conference in Juba, Amour said the new business strategy will help the country access the climate change funding being offered around the world for green energy.

“Of course, it requires us now to realign ourselves globally and be able to operate in a very efficient and environmentally friendly manner,” he said.

Burning fossil fuels for energy is by far the biggest cause of climate change, according to several studies.

But fossil fuel reportedly remains the engine of modern life and produces around 80% of the world’s energy – even with the growth of renewable energies.

Although South Sudan’s carbon emission is negligible, the country ranks third in oil reserves in Sub-Saharan Africa with roughly 3.5 billion barrels produced annually. It also has its 90% of the gas and oil reserves untapped.

The COP28 conference has pledged a $30 billion fund for global climate solutions that aims to attract $250 billions of investment by the end of the decade, UAE President Mohammed bin Zayed Al Nahyan said.

The parties to COP also pledged $700 million in funding to help lower-income countries cope with the loss and damage caused by climate change.

Mr. Amour further said the oil firm will explores ways to develop a new market for green energy and how to have access to the current funding that has been offered around the world for green energy.

At COP28, NilePet participated in two sessions; the session on the elimination of methane gas and how to refocus in developing countries on the best modalities of decarbonization.

He said that even though South Sudan is not emitting significant carbon emissions, the country is committed to ensuring that it maintains its emissions target of 2030.

“In the case of South Sudan and other developing countries, we are looking beyond 2050 because our emission contribution is not significant enough.”

“However, as part of the global community, we have to be in compliance and be able to build modalities and business strategies leaning towards decarbonization and obviously meeting the targets for the 2030 emission charter.”

COP means Conference of Parties, and it is the United Nations climate change initiative aimed at ensuring that the global temperature is kept to a level that is acceptable to humankind.

This year’s conference was attended by heads of state, ministers, and national oil companies’ CEOs across the world.