Dubai Telegraph - Nations rally behind renewables at COP28 climate talks

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 0.868888
GBP 0.86899
GEL 3.147128
GGP 0.868888
GHS 12.613956
GIP 0.868888
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 0.868888
INR 108.971952
IQD 1515.894754
IRR 1525001.44174
ISK 144.047519
JEP 0.868888
JMD 181.799371
JOD 0.82188
JPY 184.582853
KES 149.909481
KGS 101.364887
KHR 4623.983998
KMF 494.955743
KPW 1043.265709
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 2432.834089
MNT 4136.040892
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 128.330532
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 137.764445
WST 3.161931
XAF 655.95473
XAG 0.017051
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%

  • CMSD

    -0.2420

    22.658

    -1.07%

  • BCC

    -1.5600

    68.3

    -2.28%

  • NGG

    -3.5400

    81.99

    -4.32%

  • CMSC

    -0.2000

    22.65

    -0.88%

  • BCE

    0.0600

    25.79

    +0.23%

  • GSK

    -0.5300

    51.84

    -1.02%

  • RIO

    -2.5000

    83.15

    -3.01%

  • AZN

    -5.3300

    183.6

    -2.9%

  • JRI

    -0.3900

    11.77

    -3.31%

  • RELX

    -0.4600

    33.36

    -1.38%

  • VOD

    -0.0900

    14.33

    -0.63%

  • RYCEF

    -1.2600

    15.34

    -8.21%

  • BTI

    -1.3500

    57.37

    -2.35%

  • BP

    -1.0800

    44.78

    -2.41%

Nations rally behind renewables at COP28 climate talks
Nations rally behind renewables at COP28 climate talks / Photo: Giuseppe CACACE - AFP

Nations rally behind renewables at COP28 climate talks

More than 110 nations pledged to triple the world's renewable energy within seven years at UN climate talks Saturday as the United States pushed to slash methane emissions and boost nuclear capacity.

Text size:

With smoggy skies in Dubai highlighting the challenges facing the world, leaders at the COP28 conference threw their support behind voluntary pledges aimed at ramping up alternatives to fossil fuels.

A massive deployment of solar, wind, hydroelectric and other renewables is crucial to efforts to displace demand for planet-heating coal, oil and gas and achieve net-zero carbon emissions by 2050.

The nearly 200 nations negotiating a COP28 climate deal face tougher talks over the next two weeks on the fate of fossil fuels.

More than half signed up to a commitment to trippling global renewable energy capacity and doubling energy efficiency by 2030, the COP28's Emirati presidency said.

But major oil producers including Russia, Saudi Arabia and Iran, and top consumer China were not on the list.

"I do need more, and I'm kindly requesting all parties to come on board as soon as possible please," COP28 president Sultan Al Jaber told delegates.

"This can and will help transition the world away from unabated coal," said Jaber, who also heads the UAE's national oil company and a renewable energy firm.

Clean power advocates welcomed the commitment but said it must be accompanied by the phase-out of dirtier forms of energy.

"The future will be powered by solar and wind, but it won't happen fast enough unless governments regulate fossil fuels out of the way," said Kaisa Kosonen, the head of Greenpeace's COP28 delegation.

Jaber also announced a pledge by oil and gas companies representing 40 percent of global production, including his UAE firm ADNOC and Saudi giant Aramco, to decarbonise their operations by 2050.

But the pledges do not include emissions when the fuels are used by their customers, and were criticised for repackaging previous, nonbinding commitments.

"This charter is proof that voluntary commitments from the oil and gas industry will never foster the level of ambition necessary to tackle the climate crisis," said Melanie Robinson of the World Resources Institute, a nonprofit research body.

- 'Destructive' methane -

The US Environmental Protection Agency announced earlier that it would tighten curbs on methane emissions from its oil and gas industry.

The new standards would phase in the elimination of routine flaring of natural gas produced by oil wells, and require comprehensive monitoring of methane leaks from wells and compression stations.

The announcement came ahead of an expected methane summit led by the world's biggest greenhouse gas emitters -- the United States and China -- along with the United Arab Emirates at COP28.

China agreed for the first time to include all greenhouse gases in its next national climate pledge for 2035 in an agreement with the United States last month.

Methane is responsible for about one-third of the warming from greenhouse gases occurring today, second only to fossil fuels.

Agriculture is responsible for a quarter of methane emissions, with most of it produced during digestion by livestock.

The energy sector is the second-largest source of human-caused methane emissions.

Methane "is the most destructive gas", US climate envoy John Kerry said.

- Nuclear option -

While COP28 rallied behind renewables, the United States led a call by more than 20 nations for the world to triple nuclear energy capacity by 2050.

In a declaration, countries ranging from Britain to Ghana, Japan and several European nations said nuclear power played a "key role" in the goal of achieving carbon neutrality by mid-century.

The use of nuclear power as a cleaner alternative to fossil fuels is highly controversial, with many environmental groups warning about safety risks and the disposal of nuclear waste.

"We are not making the argument to anybody that this is absolutely going to be a sweeping alternative to every other energy source," Kerry said.

"But we know because (of) the science and the reality of facts... that you can't get to net zero 2050 without some nuclear," he said.

Environmental group 350.org said the 2011 Fukushima nuclear disaster in Japan highlighted the dangers of atomic power.

"We don't have time to waste on dangerous distractions like nuclear energy," said its North America director Jeff Ordower.

US Vice President Kamala Harris announced a $3 billion contribution to a global fund to help developing countries with the energy transition and the effects of climate change -- its first pledge to it since 2014.

"Today, we are demonstrating through action how the world can and must meet this crisis," Harris said.

I.Viswanathan--DT