Berliner Boersenzeitung - UN climate summit to run overtime as fury mounts on fossil fuels

EUR -
AED 4.09901
AFN 76.989056
ALL 99.290141
AMD 432.192289
ANG 2.011913
AOA 1035.386702
ARS 1074.098225
AUD 1.639961
AWG 2.008793
AZN 1.901624
BAM 1.956573
BBD 2.253991
BDT 133.402737
BGN 1.953965
BHD 0.420623
BIF 3236.121309
BMD 1.115996
BND 1.44247
BOB 7.713911
BRL 6.15305
BSD 1.116341
BTN 93.301912
BWP 14.756966
BYN 3.653344
BYR 21873.525049
BZD 2.250149
CAD 1.514028
CDF 3204.025425
CHF 0.949606
CLF 0.03764
CLP 1038.602283
CNY 7.869898
CNH 7.861953
COP 4633.616123
CRC 579.218597
CUC 1.115996
CUP 29.573899
CVE 110.307124
CZK 25.054454
DJF 198.335279
DKK 7.459212
DOP 67.006489
DZD 147.641875
EGP 54.135082
ERN 16.739943
ETB 129.539788
FJD 2.455531
FKP 0.849897
GBP 0.83852
GEL 3.047105
GGP 0.849897
GHS 17.549623
GIP 0.849897
GMD 76.450036
GNF 9644.683106
GTQ 8.629489
GYD 233.528133
HKD 8.695151
HNL 27.691947
HRK 7.58767
HTG 147.295589
HUF 393.020806
IDR 16929.717789
ILS 4.225859
IMP 0.849897
INR 93.170894
IQD 1462.378108
IRR 46975.073296
ISK 152.114535
JEP 0.849897
JMD 175.389335
JOD 0.790799
JPY 160.589064
KES 144.008576
KGS 94.009848
KHR 4533.7923
KMF 492.545341
KPW 1004.395926
KRW 1488.07353
KWD 0.340469
KYD 0.930276
KZT 535.211989
LAK 24650.303003
LBP 99966.527279
LKR 340.594644
LRD 223.26426
LSL 19.597823
LTL 3.295247
LVL 0.675055
LYD 5.301286
MAD 10.824867
MDL 19.479875
MGA 5048.905452
MKD 61.626661
MMK 3624.712047
MNT 3792.154956
MOP 8.960782
MRU 44.363935
MUR 51.202327
MVR 17.142123
MWK 1935.530467
MXN 21.676597
MYR 4.692807
MZN 71.256777
NAD 19.597647
NGN 1829.620351
NIO 41.08569
NOK 11.718262
NPR 149.286016
NZD 1.789531
OMR 0.429634
PAB 1.116321
PEN 4.184198
PGK 4.369884
PHP 62.08849
PKR 310.175419
PLN 4.270192
PYG 8709.44302
QAR 4.069909
RON 4.973218
RSD 117.079418
RUB 103.062741
RWF 1504.908406
SAR 4.187915
SBD 9.27051
SCR 14.830813
SDG 671.275802
SEK 11.359865
SGD 1.44083
SHP 0.849897
SLE 25.497503
SLL 23401.876073
SOS 637.957914
SRD 33.708707
STD 23098.867655
SVC 9.76773
SYP 2803.973801
SZL 19.604926
THB 36.761326
TJS 11.866478
TMT 3.905987
TND 3.382537
TOP 2.613779
TRY 38.072924
TTD 7.592866
TWD 35.712252
TZS 3042.431049
UAH 46.142795
UGX 4135.783196
USD 1.115996
UYU 46.127615
UZS 14205.615769
VEF 4042754.77568
VES 41.018985
VND 27459.08591
VUV 132.493308
WST 3.121958
XAF 656.204651
XAG 0.035869
XAU 0.000426
XCD 3.016036
XDR 0.827327
XOF 656.207592
XPF 119.331742
YER 279.361784
ZAR 19.504527
ZMK 10045.308782
ZMW 29.554154
ZWL 359.350313
  • RBGPF

    3.5000

    60.5

    +5.79%

  • RYCEF

    0.0000

    6.95

    0%

  • RELX

    -0.1400

    47.99

    -0.29%

  • RIO

    -1.6100

    63.57

    -2.53%

  • AZN

    -0.5200

    78.38

    -0.66%

  • NGG

    0.7200

    69.55

    +1.04%

  • CMSC

    0.0300

    25.15

    +0.12%

  • GSK

    -0.8200

    40.8

    -2.01%

  • BP

    -0.1200

    32.64

    -0.37%

  • BTI

    -0.1300

    37.44

    -0.35%

  • VOD

    -0.0500

    10.01

    -0.5%

  • SCS

    -0.3900

    12.92

    -3.02%

  • BCE

    -0.1500

    35.04

    -0.43%

  • CMSD

    0.0100

    25.02

    +0.04%

  • BCC

    -7.1900

    137.5

    -5.23%

  • JRI

    -0.0800

    13.32

    -0.6%

UN climate summit to run overtime as fury mounts on fossil fuels
UN climate summit to run overtime as fury mounts on fossil fuels / Photo: - - AFP

UN climate summit to run overtime as fury mounts on fossil fuels

UN climate talks in Dubai were set Tuesday to run past a host-imposed deadline for a deal as at-risk nations voiced fury over a proposed compromise that stops short of phasing out fossil fuels.

Text size:

The Emirati president of the COP28 summit has repeatedly pressed the nearly 200 nations to reach an ambitious deal by the official end of talks at 11 am (0700 GMT), in an effort to force decisions.

But after another late night of haggling, there was no sign that the talks were anywhere near completion, with negotiators waiting for a fresh text after wide criticism of a draft released Monday.

"We have time and we are prepared to stay a little longer," German Foreign Minister Annalena Baerbock said.

The team from the Marshall Islands -- which lies on average 2.1 metres (seven feet) above sea level and is threatened with submersion as ice melts -- vowed to stay until the end.

The Pacific archipelago's negotiator, John Silk, said that his country "did not come here to sign our death warrant".

Campaigners had hoped the COP28 summit -- set in a glitzy metropolis built on petrodollars -- would take the historic step of calling for the first time for a global phase-out of fossil fuels, which account for three-quarters of greenhouse gas emissions blamed for the planetary crisis.

But climate decisions must be made by consensus and Saudi Arabia, the world's largest oil exporter, has led opposition to the threat to its financial lifeblood.

The draft put forward by COP28 president Sultan Al Jaber -- himself head of the UAE's national oil company -- only lists a series of options including reductions in fossil fuel production and consumption.

- 'Broken beyond repair' -

Clive Hamilton, a professor at Australia's Charles Sturt University and veteran watcher of climate negotiations, said the "extraordinarily weak draft" showed the influence of the fossil fuel lobby, which showed up at COP28 in record numbers.

"If anything like the current text is adopted, it will show the COP process to be broken beyond repair," he said.

Scientists say the planet has already warmed by 1.2 degrees Celsius (2.2 Fahrenheit) from pre-industrial times and that 2023 -- marked by lethal disasters including wildfires across the world -- has likely been the warmest in 100,000 years.

The 2015 Paris summit endorsed an ambition of checking warming at 1.5 Celsius -- a goal endorsed in the latest draft, but which critics say is virtually impossible without serious efforts to curb oil, gas and coal.

"I don't think anybody here wants to be associated with the failure to live up to this responsibility. Not a lot of people in public life are asked to make life and death choices historically," said US climate envoy John Kerry, who helped negotiate the Paris accord.

"This is a war for survival," he said in a closed-door session which ended at around 2:30 am.

Kerry has supported calls to phase out fossil fuels, even though the United States remains the world's largest oil producer and much of the rival Republican Party adamantly opposes action on climate.

- Revisions expected -

Former US vice president Al Gore, who won the Nobel Peace Prize for his climate advocacy, said that the "obsequious" draft looked as if it had been written by the OPEC oil cartel.

"In order to prevent COP28 from being the most embarrassing and dismal failure in 28 years of international climate negotiations, the final text must include clear language on phasing out fossil fuels," Gore wrote on X, formerly known as Twitter.

Jaber acknowledged Monday there was work to do, and a person familiar with the COP28 presidency's thinking called Monday's text "an opening gambit" that could be built upon.

 

"This is not a menu in a restaurant. We have to do all of these things," Canada's Steven Guilbeault, part of a group of ministers tasked by Jaber to shepherd negotiations, told AFP.

The latest draft deal also includes calls to accelerate zero- and low-emission technologies -- including renewables and nuclear power -- in language similar to a joint statement reached last month by the United States and China, the world's two biggest emitters.

(K.Müller--BBZ)