The China Mail - Climate talks eye compromise on fossil fuels, drawing doubts

USD -
AED 3.672502
AFN 68.590587
ALL 83.350237
AMD 381.498727
ANG 1.789783
AOA 917.000173
ARS 1300.50564
AUD 1.553875
AWG 1.80025
AZN 1.739919
BAM 1.677085
BBD 2.011508
BDT 121.343863
BGN 1.67853
BHD 0.376978
BIF 2978.845643
BMD 1
BND 1.28401
BOB 6.901105
BRL 5.475499
BSD 0.998722
BTN 86.903506
BWP 13.427486
BYN 3.356829
BYR 19600
BZD 2.003619
CAD 1.387475
CDF 2872.999818
CHF 0.804445
CLF 0.024631
CLP 966.270226
CNY 7.176197
CNH 7.18235
COP 4026.7
CRC 504.7205
CUC 1
CUP 26.5
CVE 94.551488
CZK 21.0223
DJF 177.844091
DKK 6.40782
DOP 62.125019
DZD 129.906313
EGP 48.585498
ERN 15
ETB 141.800056
EUR 0.85848
FJD 2.27125
FKP 0.741171
GBP 0.742925
GEL 2.694988
GGP 0.741171
GHS 10.935611
GIP 0.741171
GMD 72.000014
GNF 8658.071763
GTQ 7.654842
GYD 208.945369
HKD 7.812425
HNL 26.16812
HRK 6.466979
HTG 130.681964
HUF 338.7655
IDR 16283
ILS 3.40751
IMP 0.741171
INR 87.01865
IQD 1308.105883
IRR 42050.000091
ISK 123.110087
JEP 0.741171
JMD 160.008232
JOD 0.709013
JPY 147.442503
KES 129.040417
KGS 87.4423
KHR 4002.778278
KMF 422.488836
KPW 899.981998
KRW 1397.480353
KWD 0.30563
KYD 0.83224
KZT 537.77492
LAK 21614.999715
LBP 89871.033022
LKR 301.237363
LRD 200.241813
LSL 17.669487
LTL 2.95274
LVL 0.60489
LYD 5.41507
MAD 9.019667
MDL 16.793147
MGA 4403.227604
MKD 52.81045
MMK 2098.706911
MNT 3601.092413
MOP 8.039342
MRU 39.389808
MUR 45.939649
MVR 15.399126
MWK 1731.793276
MXN 18.775655
MYR 4.22501
MZN 63.909753
NAD 17.670324
NGN 1537.160041
NIO 36.752159
NOK 10.240105
NPR 139.045953
NZD 1.716208
OMR 0.384505
PAB 0.998722
PEN 3.509862
PGK 4.143503
PHP 57.107001
PKR 283.387527
PLN 3.647315
PYG 7216.662808
QAR 3.630883
RON 4.339897
RSD 100.603975
RUB 80.497268
RWF 1445.647793
SAR 3.752918
SBD 8.220372
SCR 14.630211
SDG 600.4975
SEK 9.589995
SGD 1.285485
SHP 0.785843
SLE 23.360893
SLL 20969.49797
SOS 570.747477
SRD 37.819009
STD 20697.981008
STN 21.008493
SVC 8.738713
SYP 13001.883701
SZL 17.669949
THB 32.57006
TJS 9.328068
TMT 3.5
TND 2.878989
TOP 2.342104
TRY 40.933899
TTD 6.775563
TWD 30.2958
TZS 2508.385041
UAH 41.318224
UGX 3560.311785
UYU 40.11336
UZS 12499.99957
VES 137.956897
VND 26390
VUV 119.442673
WST 2.685572
XAF 562.47867
XAG 0.026389
XAU 0.000299
XCD 2.70255
XCG 1.799964
XDR 0.699543
XOF 561.999806
XPF 102.750015
YER 240.195756
ZAR 17.68641
ZMK 9001.198951
ZMW 23.31524
ZWL 321.999592
  • RBGPF

    -2.6500

    73.27

    -3.62%

  • JRI

    0.0500

    13.33

    +0.38%

  • RYCEF

    -0.5500

    13.75

    -4%

  • SCS

    -0.0600

    16.18

    -0.37%

  • BCE

    0.1600

    25.74

    +0.62%

  • CMSD

    0.1000

    23.69

    +0.42%

  • BCC

    -3.5600

    84.5

    -4.21%

  • NGG

    1.1000

    72.08

    +1.53%

  • CMSC

    0.0500

    23.44

    +0.21%

  • RIO

    0.0300

    60.62

    +0.05%

  • RELX

    0.9000

    48.69

    +1.85%

  • VOD

    0.1830

    11.9

    +1.54%

  • GSK

    0.4500

    40.07

    +1.12%

  • AZN

    0.9800

    80.52

    +1.22%

  • BP

    0.0600

    33.88

    +0.18%

  • BTI

    1.5400

    59.01

    +2.61%

Climate talks eye compromise on fossil fuels, drawing doubts
Climate talks eye compromise on fossil fuels, drawing doubts / Photo: © AFP

Climate talks eye compromise on fossil fuels, drawing doubts

The head of the Dubai climate summit on Monday proposed a compromise on historic language on fossil fuels, calling for a major reduction but not an explicit phase-out, in an 11th-hour bid to reach a deal.

Text size:

With hours to go before the official end to the 13-day UN summit, COP28's Emirati president released a new draft agreement aimed at bringing onboard the nearly 200 countries, which include Saudi Arabia and other producers seeking to preserve their economic lifeblood.

After an earlier draft listed an option of a "phase-out" of oil, gas and coal, the new text draft focuses on "reducing" their production and consumption in order to achieve net-zero emissions by 2050.

COP28's Emirati president, Sultan Al Jaber, has voiced hope for a historic agreement, even though his role as president of the UAE national oil company has triggered scepticism among environmentalists.

"The COP28 presidency has been clear from the beginning about our ambitions. This text reflects those ambitions and is a huge step forward," a spokesperson for the presidency said.

But Harjeet Singh, of Climate Action Network International, called the text "a significant regression from previous versions".

"Astonishingly, it has dropped explicit language on phasing out fossil fuels, opting instead for a vague commitment," he said.

He noted that the world was already on the brink of warming 1.5 degrees Celsius above pre-industrial levels -- the increasingly elusive goal blessed by the 2015 Paris accord to avoid the worst ravages of climate change including worsening storms and droughts and rising sea levels.

"Such a scenario would unleash catastrophic consequences globally, disproportionately affecting the most vulnerable communities," Singh said.

Jaber has urged negotiators to seal a deal by the summit's official close on Tuesday, although climate summits routinely run into extra hours or days.

- No 'phasing out' -

The agreement would call on all countries to take action that could include "reducing both consumption and production of fossil fuels, in a just, orderly and equitable manner so as to achieve net zero by, before, or around 2050 in keeping with the science".

On coal, the dirtiest major form of energy, the text calls for limitations on "new and unabated coal power" -- meaning going ahead with potential projects that use new carbon capture and storage (CCS) technologies.

The text does call for "phasing out" of "inefficient fossil fuel subsidies" that encourage "wasteful consumption".

Spurred by pleas by low-lying island nations that fear for their very existence, the conference in the glitzy metropolis built by petrodollars is for the first time considering global calls to exit fossil fuels.

Paying his second visit to the Dubai summit, UN Secretary-General Antonio Guterres called earlier Monday for negotiators to show "maximum ambition and maximum flexibility".

"We are in a race against time," Guterres told reporters. "It's time to go into overdrive to negotiate in good faith."

Guterres called on negotiators to have a "single-minded focus on tackling the root cause of the climate crisis -- fossil fuel production and consumption".

Offering a way to compromise, Guterres said that the call for action "doesn't mean that all countries must phase out fossil fuels at the same time".

COP28 is taking place at the end of the hottest year on record with scientists believing it may be the warmest in more than 100,000 years.

Climate-related disasters in 2023 have included drought in the Horn of Africa and severe wildfires in Canada, Greece and Hawaii.

- US-China unity -

In a rare display of unity between rival powers, China and the United States, the world's two largest emitters, have largely been cooperating to advance language on a phase-out, with veteran US negotiator John Kerry pushing for a success as he celebrated his 80th birthday.

The latest draft deal includes language similar to a joint US-China statement released last month.

The COP28 deal calls for accelerating the deployment of zero and low-emissions technologies, including renewables, nuclear power and CCS "so as to enhance efforts towards substitution of unabated fossil fuels in energy systems".

But both the United States and China support the use of carbon capture technologies, which others see as offering wiggle room to preserve fossil fuels.

"Abatement cannot be used to delay action. We need to phase out fossil fuel production and consumption," France's minister of energy transition, Agnes Pannier-Runacher, said before the latest text was publicly released.

Q.Moore--ThChM