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

USD -
AED 3.672504
AFN 65.000368
ALL 82.324126
AMD 360.540403
ANG 1.790403
AOA 918.000367
ARS 1546.131265
AUD 1.468645
AWG 1.8
AZN 1.70397
BAM 1.769883
BBD 2.014669
BDT 124.715381
BGN 1.77347
BHD 0.378283
BIF 3011.021908
BMD 1
BND 1.291151
BOB 11.678099
BRL 5.666304
BSD 1.000231
BTN 94.44641
BWP 14.015512
BYN 3.004037
BYR 19600
BZD 2.016692
CAD 1.42705
CDF 2315.000362
CHF 0.837483
CLF 0.025469
CLP 1002.376741
CNY 6.67175
CNH 6.676604
COP 3319.97
CRC 449.312832
CUC 1
CUP 24.064952
CVE 100.150394
CZK 22.139304
DJF 178.554905
DKK 6.782304
DOP 60.996961
DZD 137.215041
EGP 53.502064
ERN 15
ETB 164.576405
EUR 0.90715
FJD 2.27435
FKP 0.756884
GBP 0.755715
GEL 2.590391
GGP 0.756884
GHS 11.72504
GIP 0.756884
GMD 74.000355
GNF 8883.748356
GTQ 7.646644
GYD 209.264655
HKD 7.845704
HNL 26.963306
HRK 6.831965
HTG 131.491813
HUF 331.003504
IDR 18235.4
ILS 3.216704
IMP 0.756884
INR 94.245504
IQD 1520.116116
IRR 1913737.503816
ISK 123.930386
JEP 0.756884
JMD 158.434254
JOD 0.70904
JPY 159.73504
KES 130.050385
KGS 87.435504
KHR 4080.00035
KMF 447.00035
KPW 900.00035
KRW 1335.320383
KWD 0.31147
KYD 0.835579
KZT 446.945163
LAK 22570.87132
LBP 89792.715562
LKR 333.505692
LRD 170.463102
LSL 16.951422
LTL 2.95274
LVL 0.60489
LYD 6.463464
MAD 9.936862
MDL 18.213816
MGA 4555.721867
MKD 55.830725
MMK 2099.848767
MNT 3604.365716
MOP 8.103688
MRU 40.552456
MUR 47.620378
MVR 15.403739
MWK 1738.739965
MXN 18.536504
MYR 4.086104
MZN 63.903729
NAD 16.951422
NGN 1343.570377
NIO 36.90298
NOK 9.57248
NPR 151.114437
NZD 1.809464
OMR 0.385095
PAB 1.000231
PEN 3.411802
PGK 4.575679
PHP 63.960375
PKR 277.274459
PLN 3.996535
PYG 6207.891986
QAR 3.64425
RON 4.851904
RSD 106.559038
RUB 82.829047
RWF 1483.467138
SAR 3.82571
SBD 8.097697
SCR 13.874904
SDG 601.503676
SEK 10.075038
SGD 1.287304
SHP 0.752984
SLE 23.050371
SLL 20969.503664
SOS 573.048487
SRD 37.49037
STD 20697.981008
STN 22.225246
SVC 8.773983
SYP 13002.000337
SZL 16.946523
THB 33.875038
TJS 9.249966
TMT 3.5
TND 3.008504
TOP 2.40776
TRY 50.333804
TTD 6.806368
TWD 32.891404
TZS 2655.145825
UAH 45.588969
UGX 4131.053487
UYU 40.541335
UZS 12057.876355
VES 912.87925
VND 25725.5
VUV 120.638016
WST 2.81058
XAF 595.051667
XAG 0.020459
XAU 0.00025782798
XCD 2.70255
XCG 1.807139
XDR 0.707052
XOF 595.051667
XPF 108.325037
YER 236.550363
ZAR 16.976255
ZMK 9001.203584
ZMW 20.500748
ZWL 321.999592
SSP 5946.454122
MXV 2.081672
  • RYCEF

    0.4000

    19.71

    +2.03%

  • CMSC

    0.0000

    20.4

    0%

  • BTI

    0.4200

    56.05

    +0.75%

  • BP

    0.2800

    44.43

    +0.63%

  • RBGPF

    1.6000

    67

    +2.39%

  • RIO

    -0.1500

    94.41

    -0.16%

  • AZN

    -0.4300

    166.15

    -0.26%

  • GSK

    0.4600

    49.7

    +0.93%

  • BCE

    -0.4100

    20.56

    -1.99%

  • NGG

    -0.2500

    75.24

    -0.33%

  • VOD

    -0.0400

    16.58

    -0.24%

  • RELX

    -0.4500

    33.07

    -1.36%

  • BCC

    -0.5500

    76.59

    -0.72%

  • CMSD

    -0.0300

    20.27

    -0.15%

  • JRI

    -0.2500

    10.77

    -2.32%

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