The China Mail - Nations kick off world-first fossil fuel exit talks in Colombia

USD -
AED 3.67295
AFN 65.999781
ALL 80.791633
AMD 366.140453
AOA 917.000203
ARS 1496.246101
AUD 1.41613
AWG 1.8025
AZN 1.676319
BAM 1.693949
BBD 2.013026
BDT 123.715983
BHD 0.377097
BIF 2992.5
BMD 1
BND 1.281592
BOB 12.13835
BRL 5.138019
BSD 0.999498
BTN 95.018556
BWP 13.553788
BYN 2.956053
BYR 19600
BZD 2.010125
CAD 1.40089
CDF 2260.999784
CHF 0.806825
CLF 0.023135
CLP 913.50203
CNY 6.74965
CNH 6.747495
COP 3181.99
CRC 453.238407
CUC 1
CUP 26.5
CVE 95.705219
CZK 20.93005
DJF 177.719855
DKK 6.469195
DOP 58.250422
DZD 132.815346
EGP 49.805598
ERN 15
ETB 161.315515
EUR 0.86536
FJD 2.209502
FKP 0.743223
GBP 0.742455
GEL 2.609793
GGP 0.743223
GHS 11.724985
GIP 0.743223
GMD 73.501313
GNF 8782.495737
GTQ 7.623551
GYD 209.07221
HKD 7.84395
HNL 26.788962
HRK 6.520398
HTG 130.679554
HUF 312.982979
IDR 17872
ILS 3.00375
IMP 0.743223
INR 95.043098
IQD 1309.307281
IRR 1374800.000129
ISK 122.710125
JEP 0.743223
JMD 158.828319
JOD 0.709011
JPY 157.664501
KES 129.370256
KGS 87.449718
KHR 4050.806134
KMF 427.999754
KRW 1421.070038
KWD 0.30922
KYD 0.83294
KZT 469.017006
LAK 22593.007998
LBP 89500.13208
LKR 335.394689
LRD 180.402482
LSL 16.396785
LTL 2.95274
LVL 0.60489
LYD 6.361621
MAD 9.315335
MDL 17.365547
MGA 4254.268776
MKD 53.292106
MMK 2099.302342
MNT 3598.197717
MOP 8.074676
MRU 40.078643
MUR 46.990041
MVR 15.459892
MWK 1733.030205
MXN 17.237605
MYR 4.094102
MZN 63.900902
NAD 16.396785
NGN 1361.850099
NIO 36.783939
NOK 9.513898
NPR 152.030834
NZD 1.697635
OMR 0.384502
PAB 0.999476
PEN 3.383395
PGK 4.481283
PHP 60.651499
PKR 277.52646
PLN 3.72135
PYG 5960.609053
QAR 3.654056
RON 4.539903
RSD 101.55502
RUB 80.977129
RWF 1468.233175
SAR 3.752529
SBD 8.071551
SCR 13.412956
SDG 600.501112
SEK 9.47949
SGD 1.280935
SLE 23.90005
SOS 571.205855
SRD 37.668027
STD 20697.981008
STN 21.219838
SVC 8.745171
SZL 16.383518
THB 33.0975
TJS 9.224886
TMT 3.51
TND 2.932668
TRY 47.568898
TTD 6.779955
TWD 32.2879
TZS 2649.99801
UAH 44.726481
UGX 3727.762476
UYU 40.187774
UZS 11881.376778
VES 754.21125
VND 26251
VUV 119.564009
WST 2.736752
XAF 568.132273
XAG 0.016087
XAU 0.000235
XCD 2.70255
XCG 1.801269
XDR 0.707453
XOF 567.499513
XPF 103.292972
YER 238.350256
ZAR 16.307035
ZMK 9001.201278
ZMW 19.079252
ZWL 321.999592
  • CMSC

    -0.0600

    21.73

    -0.28%

  • NGG

    -0.1600

    80.26

    -0.2%

  • BCC

    -1.6900

    84.8

    -1.99%

  • BCE

    0.0600

    22.06

    +0.27%

  • JRI

    -0.0500

    12.67

    -0.39%

  • GSK

    -0.0700

    51.46

    -0.14%

  • RBGPF

    -1.2500

    69.74

    -1.79%

  • AZN

    5.8800

    161.5

    +3.64%

  • RIO

    2.5000

    101.51

    +2.46%

  • CMSD

    0.0200

    22.04

    +0.09%

  • RELX

    -0.1900

    36.61

    -0.52%

  • BTI

    0.1500

    59.27

    +0.25%

  • VOD

    -0.3800

    15.31

    -2.48%

  • RYCEF

    0.6500

    21

    +3.1%

  • BP

    -1.2300

    41.21

    -2.98%

Nations kick off world-first fossil fuel exit talks in Colombia
Nations kick off world-first fossil fuel exit talks in Colombia / Photo: © AFP

Nations kick off world-first fossil fuel exit talks in Colombia

More than 50 nations gathered in Colombia launched the first global conference on phasing out fossil fuels Tuesday, warning that the worldwide energy shock ignited by the Iran war drove home risks of relying on oil, gas and coal.

Text size:

Ministers and climate envoys aim to revive the transition from fossil fuels at the inaugural conference in Santa Marta against a backdrop of crippling global energy shortages and soaring fuel prices.

"Let's make this a turning point in history," Colombia's Environment Minister Irene Velez Torres said as she opened the two-day talks.

The conference bypasses the United Nations climate talks and reflects a growing impatience with its failure to tackle fossil fuels, the main driver of global warming.

But ministers said the volatility driven by the Middle East conflict also underscored the energy security imperative of shifting to renewables.

"We in Europe... are losing half a billion euros each day this war continues," the bloc's climate envoy Wopke Hoekstra told delegates in the coastal city.

"We already had a very good reason to move on (from fossil fuels) for climate action... We now also have it for commercial reasons, and reasons of independence."

The conference was announced late last year but organizers say the Middle East war -- which has seen Gulf exports plummet -- had bolstered the case for a fossil fuel phaseout.

Some governments are however weighing short-term increases to fossil fuel production to plug supply gaps, illustrating the tensions between climate ambition and energy security.

On the list of attendees are major fossil fuel producers Canada, Norway and Australia, and developing oil giants Nigeria, Angola and Brazil.

They join coal-reliant emerging markets Turkey and Vietnam, and small island nations extremely vulnerable to climate shocks, among others.

But the world's biggest emitters of greenhouse gases -- including the United States, China and India -- are not attending, nor are oil-rich Gulf states.

- 'Good faith' -

The conference is not expected to produce binding commitments but a scientific panel has asked governments taking part to consider a halt on new fossil fuel expansion, among other proposals.

Many nations "are here in good faith to really work through what is a very complex challenge made more urgent by the crisis," the UK's special climate envoy Rachel Kyte told AFP in Santa Marta on Monday.

"People seem refreshed to be able to talk about these issues without having to sort of argue the existential question of -- do we need to do this at all?" she said.

As government delegates arrived Monday, activists protested against fossil fuels on the streets and beaches of the Caribbean city, one of the country's busiest coal hubs.

Colombia, which is co-hosting the conference with the Netherlands, is highly reliant on revenue from coal and oil exports, as are other developing fossil fuel producers attending the conference.

Among other agenda items, nations will consider how to equitably reduce fossil fuel production and consumption, and reforming subsidies that throw up barriers to renewable energy investment.

Analysis by the International Institute for Sustainable Development on Monday showed that governments still spent five times more public money on fossil fuels than renewable alternatives.

- 'Fossil fuel ban' -

On Sunday, a scientific panel released a 12-point "menu" of policy options that included "halting all new and expanding fossil fuel extraction and infrastructure projects."

"Without a doubt, there is no justification whatsoever for any new exploration of fossil fuels," the Brazilian scientist Carlos Nobre, a former member of the UN's climate advisory panel, told AFP.

Even as record investments flow into renewable energy, scientists warn the pace is still too slow to keep global temperature rises to safer levels.

"Even if we carried out no new exploration, the amount of fossil fuels -- oil, coal, and natural gas -- that already exists will push temperatures up to two and a half degrees by 2050," Nobre said.

The world has already warmed about 1.4C above pre-industrial times and is tracking to blow past 1.5C in a matter of years.

Above that threshold, scientists warn that coral reefs and Greenland ice sheets could disappear, among other catastrophic and irreversible impacts.

V.Fan--ThChM