AIRLINK 74.64 Decreased By ▼ -0.21 (-0.28%)
BOP 5.01 Increased By ▲ 0.03 (0.6%)
CNERGY 4.51 Increased By ▲ 0.02 (0.45%)
DFML 42.44 Increased By ▲ 2.44 (6.1%)
DGKC 87.02 Increased By ▲ 0.67 (0.78%)
FCCL 21.58 Increased By ▲ 0.22 (1.03%)
FFBL 33.54 Decreased By ▼ -0.31 (-0.92%)
FFL 9.66 Decreased By ▼ -0.06 (-0.62%)
GGL 10.43 Decreased By ▼ -0.02 (-0.19%)
HBL 114.29 Increased By ▲ 1.55 (1.37%)
HUBC 139.94 Increased By ▲ 2.50 (1.82%)
HUMNL 12.25 Increased By ▲ 0.83 (7.27%)
KEL 5.21 Decreased By ▼ -0.07 (-1.33%)
KOSM 4.50 Decreased By ▼ -0.13 (-2.81%)
MLCF 38.09 Increased By ▲ 0.29 (0.77%)
OGDC 139.16 Decreased By ▼ -0.34 (-0.24%)
PAEL 25.87 Increased By ▲ 0.26 (1.02%)
PIAA 22.20 Increased By ▲ 1.52 (7.35%)
PIBTL 6.80 No Change ▼ 0.00 (0%)
PPL 123.58 Increased By ▲ 1.38 (1.13%)
PRL 26.81 Increased By ▲ 0.23 (0.87%)
PTC 14.01 Decreased By ▼ -0.04 (-0.28%)
SEARL 58.53 Decreased By ▼ -0.45 (-0.76%)
SNGP 68.01 Decreased By ▼ -0.94 (-1.36%)
SSGC 10.47 Increased By ▲ 0.17 (1.65%)
TELE 8.39 Increased By ▲ 0.01 (0.12%)
TPLP 11.05 Decreased By ▼ -0.01 (-0.09%)
TRG 63.21 Decreased By ▼ -0.98 (-1.53%)
UNITY 26.59 Increased By ▲ 0.04 (0.15%)
WTL 1.42 Decreased By ▼ -0.03 (-2.07%)
BR100 7,941 Increased By 103.5 (1.32%)
BR30 25,648 Increased By 196 (0.77%)
KSE100 75,983 Increased By 868.6 (1.16%)
KSE30 24,445 Increased By 330.8 (1.37%)

DUBAI: A draft of a potential climate deal at the COP28 summit on Monday suggested a range of options that countries could take to reduce greenhouse gas emissions, but omitted the “phase out” of fossil fuels many nations have demanded.

The draft will set the stage for a final round of contentious negotiations in the two-week summit in Dubai, which has laid bare deep international divisions over whether oil, gas and coal should have a place in a climate-friendly future.

COP28 President Sultan Al Jaber urged the nearly 200 countries at the talks to redouble their efforts to finalize a deal ahead of the scheduled close of the conference on Tuesday, saying they “still have a lot to do”.

“You know what remains to be agreed. And you know that I want you to deliver the highest ambition on all items including on fossil fuel language,” he said.

UN Secretary General Antonio Guterres said earlier in the day a central benchmark of success for COP28 would be whether it yielded a deal to phase out fossil fuels fast enough to avert disastrous climate change.

The new draft of a COP28 agreement, published by the United Arab Emirates’ presidency of the summit, proposed various options but did not refer to a “phase out” of all fossil fuels, which had been included in a previous draft.

Instead it listed eight options that countries “could” use to cut emissions, including: “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”.

Other actions listed included tripling renewable energy capacity by 2030, “rapidly phasing down unabated coal” and scaling up technologies including those to capture CO2 emissions to keep them from the atmosphere.

One European diplomat told Reuters the new text was “weak as shit” and read like a “menu where you can pick and choose your dish at will”.

Representatives from Pacific island nations Samoa and the Marshall Islands, already suffering the impacts of rising seas, said the draft was a death warrant.

“We will not go silently to our watery graves. We will not accept an outcome that will lead to devastation for our country, and for millions if not billions of the most vulnerable people and communities,” said John Silk, the head of the Marshall Islands delegation.

A coalition of more than 100 countries including oil and gas producers the United States, Canada and Norway, as well as the European Union and climate-vulnerable island nations, wanted an agreement that included language to phase out fossil fuels, a feat not achieved in 30 years of the UN summits.

The emissions from burning fossil fuels are by far the main driver of climate change.

Sources familiar with the discussions said the UAE had come under pressure from Saudi Arabia, de facto leader of the OPEC oil producers’ group of which UAE is a member, to drop any mention of fossil fuels from the text.

Saudi Arabia’s government did not respond to requests for comment on Monday.

Canadian Environment Minister Steven Guilbeault told Reuters a deal on phasing out fossil fuels was being opposed by OPEC.

“We’re the fourth largest oil and gas producer. We get it. It’s complicated. It’s unnerving. It creates uncertainty in parts of our country. But it’s not a reason not to do it,” Guilbeault said.

Other country representatives and observers had a more positive take on the text.

“This text lays the ground for transformational change,” said Mohamed Adow, Director of Power Shift Africa. “It’s good to recognise this is the first COP where the word fossil fuels are actually included in the draft decision. This is the beginning of the end of the fossil fuel era.”


Comments are closed.