Dubai Telegraph - G20 environment ministers race to reach climate consensus

EUR -
AED 4.189195
AFN 71.863394
ALL 94.21881
AMD 419.878305
ANG 2.0423
AOA 1046.015122
ARS 1685.364164
AUD 1.653202
AWG 2.054673
AZN 1.920848
BAM 1.956208
BBD 2.297479
BDT 140.589301
BGN 1.928775
BHD 0.43008
BIF 3393.577513
BMD 1.140693
BND 1.475495
BOB 7.899473
BRL 5.892711
BSD 1.140738
BTN 107.784101
BWP 15.501891
BYN 3.30816
BYR 22357.577591
BZD 2.294158
CAD 1.620263
CDF 2586.528836
CHF 0.922193
CLF 0.026738
CLP 1052.380215
CNY 7.7546
CNH 7.753568
COP 3927.348049
CRC 517.403297
CUC 1.140693
CUP 30.228357
CVE 110.287502
CZK 24.260478
DJF 203.127882
DKK 7.474321
DOP 67.833543
DZD 151.910582
EGP 56.181859
ERN 17.110391
ETB 183.900797
FJD 2.562851
FKP 0.864482
GBP 0.862141
GEL 3.017169
GGP 0.864482
GHS 12.901406
GIP 0.864482
GMD 83.270405
GNF 10000.040297
GTQ 8.702737
GYD 238.604499
HKD 8.945672
HNL 30.527095
HRK 7.534618
HTG 149.089765
HUF 354.307207
IDR 20363.646692
ILS 3.394844
IMP 0.864482
INR 107.777839
IQD 1494.29833
IRR 1568737.682503
ISK 144.012701
JEP 0.864482
JMD 179.617434
JOD 0.808737
JPY 184.627988
KES 147.69709
KGS 99.753682
KHR 4586.915757
KMF 495.06024
KPW 1026.62386
KRW 1760.750652
KWD 0.353284
KYD 0.950577
KZT 553.843289
LAK 25584.107754
LBP 102147.450057
LKR 383.556575
LRD 207.598716
LSL 18.742142
LTL 3.368169
LVL 0.689994
LYD 7.328495
MAD 10.689528
MDL 20.16176
MGA 4853.969073
MKD 61.683271
MMK 2395.055099
MNT 4083.597231
MOP 9.214719
MRU 45.525488
MUR 53.886625
MVR 17.623409
MWK 1977.968883
MXN 19.93425
MYR 4.643751
MZN 72.886627
NAD 18.742306
NGN 1576.175339
NIO 41.978381
NOK 11.327648
NPR 172.45643
NZD 2.017583
OMR 0.438622
PAB 1.140713
PEN 3.895378
PGK 5.008044
PHP 69.788675
PKR 317.197427
PLN 4.287299
PYG 6946.447724
QAR 4.158067
RON 5.241469
RSD 117.358512
RUB 88.6904
RWF 1674.512289
SAR 4.285055
SBD 9.184804
SCR 16.994393
SDG 684.415923
SEK 11.086319
SGD 1.47544
SHP 0.851642
SLE 28.290723
SLL 23919.760471
SOS 651.930155
SRD 42.756578
STD 23610.03655
STN 24.505107
SVC 9.981036
SYP 126.083161
SZL 18.737741
THB 37.928601
TJS 10.574072
TMT 3.992425
TND 3.378804
TOP 2.746515
TRY 53.20463
TTD 7.754548
TWD 36.377855
TZS 2997.179274
UAH 51.19487
UGX 4180.871344
USD 1.140693
UYU 45.899566
UZS 13747.865222
VES 708.08842
VND 29988.811984
VUV 135.946941
WST 3.172133
XAF 656.087985
XAG 0.01955
XAU 0.000282
XCD 3.082779
XCG 2.05581
XDR 0.817159
XOF 656.090861
XPF 119.331742
YER 272.197797
ZAR 18.725253
ZMK 10267.599495
ZMW 20.651851
ZWL 367.302595
  • VOD

    -0.2400

    13.65

    -1.76%

  • CMSD

    0.0150

    21.785

    +0.07%

  • CMSC

    0.0650

    21.995

    +0.3%

  • RELX

    0.2200

    31.56

    +0.7%

  • RYCEF

    0.7500

    18.75

    +4%

  • RIO

    0.0400

    93.78

    +0.04%

  • BCC

    -2.6200

    78.4

    -3.34%

  • BCE

    -0.2450

    22.675

    -1.08%

  • GSK

    -0.2500

    52.25

    -0.48%

  • BP

    0.4500

    37.58

    +1.2%

  • JRI

    0.0430

    12.833

    +0.34%

  • BTI

    -0.4850

    62.275

    -0.78%

  • RBGPF

    0.2000

    61.5

    +0.33%

  • NGG

    0.5100

    83.52

    +0.61%

  • AZN

    0.5300

    188.94

    +0.28%

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