AIRLINK 73.06 Decreased By ▼ -6.94 (-8.68%)
BOP 5.09 Decreased By ▼ -0.09 (-1.74%)
CNERGY 4.37 Decreased By ▼ -0.09 (-2.02%)
DFML 32.45 Decreased By ▼ -2.71 (-7.71%)
DGKC 75.49 Decreased By ▼ -1.39 (-1.81%)
FCCL 19.52 Decreased By ▼ -0.46 (-2.3%)
FFBL 36.15 Increased By ▲ 0.55 (1.54%)
FFL 9.22 Decreased By ▼ -0.31 (-3.25%)
GGL 9.85 Decreased By ▼ -0.31 (-3.05%)
HBL 116.70 Decreased By ▼ -0.30 (-0.26%)
HUBC 132.69 Increased By ▲ 0.19 (0.14%)
HUMNL 7.10 Increased By ▲ 0.04 (0.57%)
KEL 4.41 Decreased By ▼ -0.24 (-5.16%)
KOSM 4.40 Decreased By ▼ -0.25 (-5.38%)
MLCF 36.20 Decreased By ▼ -1.30 (-3.47%)
OGDC 133.50 Decreased By ▼ -0.97 (-0.72%)
PAEL 22.60 Decreased By ▼ -0.30 (-1.31%)
PIAA 26.01 Decreased By ▼ -0.62 (-2.33%)
PIBTL 6.55 Decreased By ▼ -0.26 (-3.82%)
PPL 115.31 Increased By ▲ 3.21 (2.86%)
PRL 26.63 Decreased By ▼ -0.57 (-2.1%)
PTC 14.10 Decreased By ▼ -0.28 (-1.95%)
SEARL 53.45 Decreased By ▼ -2.94 (-5.21%)
SNGP 67.25 Increased By ▲ 0.25 (0.37%)
SSGC 10.70 Decreased By ▼ -0.13 (-1.2%)
TELE 8.42 Decreased By ▼ -0.87 (-9.36%)
TPLP 10.75 Decreased By ▼ -0.43 (-3.85%)
TRG 63.87 Decreased By ▼ -5.13 (-7.43%)
UNITY 25.12 Decreased By ▼ -0.37 (-1.45%)
WTL 1.27 Decreased By ▼ -0.05 (-3.79%)
BR100 7,465 Decreased By -57.3 (-0.76%)
BR30 24,199 Decreased By -203.3 (-0.83%)
KSE100 71,103 Decreased By -592.5 (-0.83%)
KSE30 23,395 Decreased By -147.4 (-0.63%)

DUBAI: OPEC Secretary General Haitham Al Ghais has urged OPEC+ members to reject proposals for any text under negotiation at the COP28 climate summit that targeted fossil fuels rather than emissions, a letter dated Wednesday and seen by Reuters on Friday showed.

The language used to describe the future of fossil fuels in a final agreement is the most contentious issue at the UN summit hosted this year by the United Arab Emirates.

Three sources confirmed the letter’s authenticity to Reuters. OPEC said in a statement to Reuters it did not comment on official communication with member countries but that it continues to advise them and its partners.

The letter referred to a draft of the COP28 text under negotiation that was published by the UN climate body on Tuesday. A different draft was published on Friday.

The new draft deal includes a range of options from agreeing to a “phase out of fossil fuels in line with best available science”, to phasing out “unabated fossil fuels”, to including no language on them at all.

“It seems that the undue and disproportionate pressure against fossil fuels may reach a tipping point with irreversible consequences, as the draft decision still contains options on fossil fuels phase out,” the letter said.

The letter urged delegations at COP28 to “proactively reject any text or formula that targets energy i.e. fossil fuels rather than emissions.”

Members of the Organization of the Petroleum Exporting Countries already hold positions largely opposing strong language on phasing out fossil fuels.

The UAE, the second Arab country to host the climate summit after Egypt in 2022 and an OPEC member, has alongside other Gulf energy producers called for what they consider a more realistic energy transition in which fossil fuels would keep a role in securing energy supplies while industries decarbonise.

“While OPEC Member Countries and Non-OPEC Countries participating in the Charter of Cooperation (CoC) are taking climate change seriously and have a proven record on climate actions, it would be unacceptable that politically motivated campaigns put our people’s prosperity and future at risk,” the letter seen by Reuters said.

Countries are expected over the next few days to focus on the language around fossil fuels in hopes of reaching a consensus before the summit ends on Dec. 12.

“The inclusion of some options that focus on the need for action toward phaseout of all fossil fuels this critical decade is a step in the right direction,” said Nikki Reisch, climate and energy program director at the Center for International Environmental Law.

Comments

Comments are closed.