Dubai Telegraph - G20 environment ministers race to reach climate consensus

EUR -
AED 4.256969
AFN 73.026624
ALL 95.949668
AMD 436.29849
ANG 2.074968
AOA 1062.937298
ARS 1612.956254
AUD 1.648622
AWG 2.089361
AZN 1.97515
BAM 1.955793
BBD 2.330592
BDT 141.989509
BGN 1.981339
BHD 0.437098
BIF 3425.188147
BMD 1.159146
BND 1.479895
BOB 7.995972
BRL 6.159011
BSD 1.157196
BTN 108.180626
BWP 15.778945
BYN 3.510788
BYR 22719.261378
BZD 2.327292
CAD 1.591102
CDF 2637.057544
CHF 0.913917
CLF 0.027244
CLP 1075.745893
CNY 7.982348
CNH 8.005172
COP 4253.385281
CRC 540.49813
CUC 1.159146
CUP 30.717369
CVE 110.264618
CZK 24.515015
DJF 206.059287
DKK 7.48519
DOP 68.689762
DZD 153.294785
EGP 59.995792
ERN 17.38719
ETB 182.369469
FJD 2.566871
FKP 0.87126
GBP 0.86899
GEL 3.147128
GGP 0.87126
GHS 12.613956
GIP 0.87126
GMD 85.201694
GNF 10142.964899
GTQ 8.863969
GYD 242.099162
HKD 9.082199
HNL 30.628894
HRK 7.547552
HTG 151.809475
HUF 393.739159
IDR 19654.711213
ILS 3.60393
IMP 0.87126
INR 108.971952
IQD 1515.894754
IRR 1525001.44174
ISK 144.047519
JEP 0.87126
JMD 181.799371
JOD 0.82188
JPY 184.582853
KES 149.909481
KGS 101.364887
KHR 4623.983998
KMF 494.955743
KPW 1043.080849
KRW 1744.874492
KWD 0.35536
KYD 0.964297
KZT 556.328075
LAK 24848.914008
LBP 103633.441366
LKR 360.978751
LRD 211.759267
LSL 19.520632
LTL 3.422657
LVL 0.701156
LYD 7.407974
MAD 10.813063
MDL 20.15193
MGA 4824.983303
MKD 61.639787
MMK 2434.137979
MNT 4156.167228
MOP 9.340468
MRU 46.32084
MUR 53.912319
MVR 17.920835
MWK 2006.593056
MXN 20.746631
MYR 4.565921
MZN 74.073751
NAD 19.520632
NGN 1572.092184
NIO 42.579853
NOK 11.093021
NPR 173.089401
NZD 1.985179
OMR 0.445696
PAB 1.157196
PEN 4.000686
PGK 4.994983
PHP 69.723065
PKR 323.078682
PLN 4.282755
PYG 7557.973845
QAR 4.231485
RON 5.101986
RSD 117.449594
RUB 96.003268
RWF 1683.694173
SAR 4.352195
SBD 9.33305
SCR 15.877645
SDG 696.647132
SEK 10.831104
SGD 1.486609
SHP 0.86966
SLE 28.486057
SLL 24306.724357
SOS 661.297712
SRD 43.45349
STD 23991.981659
STN 24.499915
SVC 10.124965
SYP 128.128397
SZL 19.526932
THB 38.14522
TJS 11.114462
TMT 4.068602
TND 3.417588
TOP 2.790945
TRY 51.295112
TTD 7.850973
TWD 37.135217
TZS 3008.589588
UAH 50.693025
UGX 4373.984863
USD 1.159146
UYU 46.629839
UZS 14107.951178
VES 527.05282
VND 30499.449254
VUV 138.346896
WST 3.161587
XAF 655.95473
XAG 0.017031
XAU 0.000257
XCD 3.13265
XCG 2.085493
XDR 0.815797
XOF 655.95473
XPF 119.331742
YER 276.576393
ZAR 19.85325
ZMK 10433.709028
ZMW 22.593922
ZWL 373.244535
  • RBGPF

    -13.5000

    69

    -19.57%

  • BCE

    0.0600

    25.79

    +0.23%

  • BCC

    -1.5600

    68.3

    -2.28%

  • BTI

    -1.3500

    57.37

    -2.35%

  • GSK

    -0.5300

    51.84

    -1.02%

  • AZN

    -5.3300

    183.6

    -2.9%

  • RIO

    -2.5000

    83.15

    -3.01%

  • NGG

    -3.5400

    81.99

    -4.32%

  • RELX

    -0.4600

    33.36

    -1.38%

  • CMSC

    -0.2000

    22.65

    -0.88%

  • BP

    -1.0800

    44.78

    -2.41%

  • CMSD

    -0.2420

    22.658

    -1.07%

  • VOD

    -0.0900

    14.33

    -0.63%

  • RYCEF

    -1.2600

    15.34

    -8.21%

  • JRI

    -0.3900

    11.77

    -3.31%

G20 environment ministers race to reach climate consensus
G20 environment ministers race to reach climate consensus / Photo: R.Satish BABU - AFP

G20 environment ministers race to reach climate consensus

Environment ministers from G20 nations meeting in India on Friday raced against time to reach a last-minute consensus on the most contentious issues to redress the global climate crisis.

Text size:

No major breakthrough is expected with delegates from the Group of 20 major economies stuck on climate change adaptation finance, mitigation and peaking emissions by 2025 in hectic negotiations.

The Chennai meeting comes days after the bloc was criticised for failing to agree on a roadmap to cut fossil fuels from the global energy mix.

All present at Friday's conference understood "the severity of the crisis" facing the world, Adnan Amin, chief executive of this year's COP28 climate talks, told AFP.

"But I think there's a kind of political understanding that still needs to be achieved," he added on the sidelines of the meeting.

Any agreements reached in Chennai will be signed by the leaders of G20 nations -- constituting more than 80 percent of global GDP and CO2 emissions -- at a summit in New Delhi this September.

The lack of accord on fossil fuel cuts last week was seen as a blow to mitigation efforts even as climate experts blame record global temperatures for triggering floods, storms and heatwaves.

Some major oil producers -- such as Russia and Saudi Arabia -- were blamed for the lack of progress.

"Given the scale of the triple global crises, climate change, biodiversity loss and pollution, we truly have no time left to waste," Steven Guilbeault, Canada's environment and climate change minister, warned in Chennai on Thursday.

Amin said it was clear that questions of "national interests" still had to be resolved before firmer commitments could be made on fossil fuels.

"It's very clear that every country in the world will start by looking at its immediate self-interest," he said.

"As long as that demand is there, that energy source will continue," the COP28 CEO added.

Most delegations were led by their environment and climate change ministers, while the US delegation was headed by Special Presidential Envoy for Climate John Kerry.

Also at the talks is Emirati oil boss Sultan Al Jaber, who will lead the upcoming COP28 talks in the United Arab Emirates starting in late November.

He has been heavily criticised for his apparent conflict of interest as head of the Abu Dhabi National Oil Company, because burning fossil fuels is the main driver of global warming.

- Livelihoods destroyed -

With raging wildfires in Greece and a heatwave in Italy, European Union environment commissioner Virginijus Sinkevicius said that there was "growing evidence on the ground of devastating climate impact" and "the livelihoods of people are being destroyed".

But progress in global negotiations has been slow, with the G20 polarised by Russia's war in Ukraine and sharp divisions on key issues.

Questions on financing the transition and ameliorating its short-term impacts have long been a point of contention between developing and wealthy nations.

Major developing countries like India argue that legacy emitters need to spend more to underwrite global mitigation efforts in poorer nations.

Big energy-producing nations have resisted stronger commitments on emissions cuts over concerns about the impact of drastic mitigation on their economies.

J.Chacko--DT