Dubai Telegraph - Nations call for swift fossil fuel exit to tackle climate change

EUR -
AED 4.178755
AFN 72.822412
ALL 91.838311
AMD 414.626955
ANG 2.037168
AOA 1044.54648
ARS 1734.921684
AUD 1.620778
AWG 2.048131
AZN 1.935159
BAM 1.954504
BBD 2.294059
BDT 140.157086
BGN 1.915505
BHD 0.429406
BIF 3430.550429
BMD 1.137851
BND 1.455203
BOB 13.958808
BRL 5.900439
BSD 1.138935
BTN 109.07261
BWP 15.509582
BYN 3.441288
BYR 22301.873531
BZD 2.290761
CAD 1.61056
CDF 2662.570312
CHF 0.945708
CLF 0.027709
CLP 1094.100142
CNY 7.638676
CNH 7.64015
COP 3760.312069
CRC 517.84533
CUC 1.137851
CUP 27.337799
CVE 110.119899
CZK 24.38249
DJF 202.823761
DKK 7.475395
DOP 67.73361
DZD 152.221654
EGP 58.862588
ERN 17.06776
ETB 184.769452
FJD 2.545606
FKP 0.858868
GBP 0.859589
GEL 2.97548
GGP 0.858868
GHS 13.229288
GIP 0.858868
GMD 83.63506
GNF 10017.183287
GTQ 8.698387
GYD 238.313064
HKD 8.924624
HNL 30.570063
HRK 7.531315
HTG 149.059874
HUF 366.779304
IDR 20455.14186
ILS 3.472988
IMP 0.858868
INR 109.239922
IQD 1492.097738
IRR 1564359.80361
ISK 137.008873
JEP 0.858868
JMD 180.198958
JOD 0.806765
JPY 179.478314
KES 147.477176
KGS 99.502992
KHR 4631.888698
KMF 492.689799
KPW 1024.065983
KRW 1550.935678
KWD 0.35138
KYD 0.949162
KZT 504.245572
LAK 25547.839172
LBP 101996.087852
LKR 376.097118
LRD 195.913568
LSL 18.582918
LTL 3.359778
LVL 0.688275
LYD 7.282109
MAD 10.930102
MDL 20.21742
MGA 5028.622207
MKD 61.528804
MMK 2389.299296
MNT 4091.79201
MOP 9.202219
MRU 45.820618
MUR 54.014313
MVR 17.579594
MWK 1974.973384
MXN 20.206038
MYR 4.647668
MZN 72.720028
NAD 18.584387
NGN 1510.894962
NIO 41.911479
NOK 10.830975
NPR 174.509479
NZD 2.008585
OMR 0.4375
PAB 1.1382
PEN 3.866637
PGK 5.074502
PHP 71.109992
PKR 315.612699
PLN 4.374245
PYG 6713.490458
QAR 4.151766
RON 5.276098
RSD 117.392509
RUB 95.761103
RWF 1683.369258
SAR 4.273783
SBD 9.103388
SCR 15.851666
SDG 684.41638
SEK 11.310469
SGD 1.455135
SHP 0.859079
SLE 28.04769
SLL 23860.150813
SOS 650.96274
SRD 42.859989
STD 23551.211979
STN 24.46776
SVC 9.966305
SYP 14794.334965
SZL 18.578521
THB 38.2435
TJS 10.507419
TMT 3.993856
TND 3.37188
TOP 2.739671
TRY 55.73261
TTD 7.747409
TWD 36.169655
TZS 3009.598021
UAH 51.002641
UGX 4461.062253
USD 1.137851
UYU 45.630753
UZS 13480.063729
VES 969.939714
VND 29542.017473
VUV 134.040061
WST 3.124217
XAF 655.957
XAG 0.018429
XAU 0.000272149604
XCD 3.075098
XCG 2.052721
XDR 0.804519
XOF 655.957
XPF 119.331742
YER 269.272166
ZAR 18.658851
ZMK 10242.018811
ZMW 22.203743
ZWL 366.387458
SSP 6500.076631
MXV 2.288281
  • RELX

    0.0100

    33.52

    +0.03%

  • RIO

    0.0900

    94.56

    +0.1%

  • BTI

    -0.3900

    55.63

    -0.7%

  • NGG

    0.2600

    75.49

    +0.34%

  • GSK

    -0.4100

    49.24

    -0.83%

  • RBGPF

    -0.5900

    65.4

    -0.9%

  • AZN

    2.0200

    166.58

    +1.21%

  • CMSC

    -0.1100

    20.4

    -0.54%

  • BCE

    -0.3300

    20.97

    -1.57%

  • CMSD

    -0.0700

    20.3

    -0.34%

  • BCC

    1.0400

    77.14

    +1.35%

  • VOD

    0.1300

    16.62

    +0.78%

  • BP

    -0.2600

    44.15

    -0.59%

  • RYCEF

    -0.3600

    19.31

    -1.86%

  • JRI

    -0.1500

    11.02

    -1.36%

Nations call for swift fossil fuel exit to tackle climate change
Nations call for swift fossil fuel exit to tackle climate change / Photo: Valentine CHAPUIS - AFP/File

Nations call for swift fossil fuel exit to tackle climate change

The world needs an "urgent" exit from fossil fuels as part of efforts to slash planet-heating emissions and rein in global warming, a coalition of countries including EU economies and climate-vulnerable nations said Friday.

Text size:

In a statement released at the close of climate talks in Brussels, the High Ambition Coalition said the year-end COP28 talks must pave the way for "an urgent and just transition to renewables, a more climate resilient world, and climate justice for all".

"We must accelerate the global energy transition away from fossil fuels," said the statement, signed by representatives of countries including Germany, France and the Marshall Islands, as well as the European Commission.

It called for greenhouse gas emissions to peak by 2025 at the latest and be cut by 43 percent by 2030, compared to 2019 levels, in line with recent updates from UN climate experts.

"This requires systemic transformations across all sectors, driven by an urgent phase out from fossil fuels, starting with a rapid decline of fossil fuel production and use within this decade," the countries said.

The statement follows a ministerial summit in Belgium where the incoming COP28 president outlined priorities for the crunch Dubai meeting.

With global temperatures hitting record highs last week and countries buffeted by floods, storms and crop-withering heatwaves, the world remains far off track to meet its climate goals.

That has prompted some countries to call for a decision at COP28 to entirely phase out planet-warming fossil fuels from the global energy mix.

- Fossil focus -

Emirati oil boss Sultan Al Jaber, who will head up the COP28 talks, has said he expects fossil fuels to continue to play a role, albeit reduced and with the use of often controversial technologies to "abate", or neutralise, the emissions.

Jaber said on Thursday that a phase down of fossil fuels is both "inevitable" and "essential", but has been reluctant to spell out a time frame.

But "I don't have a magic (wand)" as to when that will happen, he told AFP in Brussels.

Countries have raised concerns about any reliance on carbon capture and storage technologies -- for example those that trap emissions from power plants and store them permanently underground -- which have so far not been used at scale.

"Abatement technologies must not be used to green-light continued fossil fuel expansion, but must be considered in the context of steps to phase out fossil fuel use," the statement said.

It added that these technologies had a "minimal role to play" in the decarbonisation of the energy sector.

Among the concrete targets Jaber proposed as COP28 priorities include a host of 2030 targets, like tripling the world's renewable energy capacity and doubling energy efficiency improvements.

This is in line with what the International Energy Agency says is needed to meet the Paris deal target of limiting global warming to 1.5 degrees Celsius since preindustrial times.

V.Munir--DT