Dubai Telegraph - COP28 fossil fuel battle hardens despite new warning on warming

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%

COP28 fossil fuel battle hardens despite new warning on warming
COP28 fossil fuel battle hardens despite new warning on warming / Photo: Karim SAHIB - AFP

COP28 fossil fuel battle hardens despite new warning on warming

Battle lines on fossil fuels hardened at UN climate talks on Tuesday despite scientists warning that global warming could breach the 1.5C threshold within seven years.

Text size:

A new COP28 draft agreement in Dubai included the options of phasing out fossil fuels or not addressing the issue at all, setting the stage for tough negotiations due to end next week.

Saudi Arabia -- the world's biggest oil exporter -- took a hardline stance, saying it would "absolutely not" agree to phasing down fossil fuels, never mind phasing them out.

The thorny debate over the future of fossil fuels, the biggest cause of global warming, is the key battleground at the COP28 meeting hosted by the oil-rich United Arab Emirates.

- 'Extremely unhappy' -

The latest version of a potential agreement included three options -- an "orderly and just" phase-out, faster efforts to phase out fossil fuel projects that do not capture and store emissions, or "no text" on the subject.

An earlier draft, prepared by the UK and Singapore, that proposed a "phasedown/out" was badly received by delegates, a Latin American negotiator told AFP.

"Everyone was extremely unhappy with the first draft," the negotiator said, requesting anonymity.

"When we started talking... everything collapsed... There is pretty much nothing on the way forward," the delegate added.

Saudi Arabia's energy minister said he would "absolutely not" agree to a phase-down of fossil fuels in the COP28 agreement.

"I would like to put that challenge for all of those who... come out publicly saying we have to (phase down)," Prince Abdulaziz bin Salman told Bloomberg.

"Call them and ask them how they are gonna do that?"

- 'Elephant in the room' -

Laurence Tubiana, the architect of the landmark Paris climate accord in 2015, said the negotiations are "difficult because we're at a stage where all options are on the table and we don't see a balancing point.

"On one hand it's normal at this stage but it seems particularly difficult because we're talking about the elephant in the room, which is fossil fuels," Tubiana told AFP.

- Record oil lobbyists -

Nearly 2,500 fossil fuel lobbyists -- a record -- have been accredited for UN climate talks in Dubai, campaign groups said.

The NGO umbrella group Kick Big Polluters Out said 2,456 people tied to fossil fuel interests were identified, roughly four times the number at COP27 last year.

If taken as a group they outnumber "every country delegation" apart from Brazil and the UAE, the coalition added.

Campaigners have worried about the influence of the fossil fuel lobby since Sultan Al Jaber, the head of the UAE's national oil company ADNOC, was named president of COP28.

- 1.5C alive? -

The annual Global Carbon Project estimated Tuesday there is a 50 percent chance warming will exceed the 2015 Paris deal's goal of 1.5 degrees Celsius over multiple years by around 2030.

Fossil fuel CO2 pollution also rose 1.1 percent last year, according to an international consortium of climate scientists in their annual Global Carbon Project assessment, with surging emissions in China and India -- now the world's first and third biggest emitters.

Projected global warming has risen slightly -- by 0.1C -- the Climate Action Tracker said in its annual update on government plans, putting it at a catastrophic 2.5C above pre-industrial levels by the end of the century, the group said.

"Despite their promises, governments have not taken enough action to drive down warming projections, with some instead turning to false solutions such as carbon capture and storage to continue the world's reliance on fossil fuels," it said.

- 'Kick big polluters out!' -

Dozens of people protested inside the COP28 venue Tuesday under blistering sun, holding up signs reading "Phase out fossil fuels now" and "Stop funding fossil fuels".

"Kick big polluters out!" they chanted.

"If the United Nations continues to allow the fossil fuel industry to lead climate mitigation and to lead COP... I have zero confidence that COP will be successful," Thomas Harmy Joseph, a member of the US-based Indigenous Environmental Network, told AFP.

I.Mansoor--DT