Berliner Boersenzeitung - 'Time to deliver': pressure grows for climate deal in Dubai

EUR -
AED 4.102936
AFN 77.459209
ALL 99.457975
AMD 432.778937
ANG 2.014982
AOA 1037.198836
ARS 1075.462107
AUD 1.637702
AWG 2.010723
AZN 1.896412
BAM 1.957567
BBD 2.257397
BDT 133.610576
BGN 1.967095
BHD 0.420956
BIF 3240.766592
BMD 1.117068
BND 1.443677
BOB 7.725834
BRL 6.060991
BSD 1.118089
BTN 93.516982
BWP 14.711012
BYN 3.658936
BYR 21894.534621
BZD 2.253583
CAD 1.51451
CDF 3207.102402
CHF 0.945106
CLF 0.037685
CLP 1039.834343
CNY 7.868957
CNH 7.865561
COP 4652.867874
CRC 579.176012
CUC 1.117068
CUP 29.602304
CVE 110.361631
CZK 25.09773
DJF 199.096109
DKK 7.459401
DOP 67.11516
DZD 147.697258
EGP 54.203943
ERN 16.756021
ETB 128.672268
FJD 2.455148
FKP 0.850713
GBP 0.838751
GEL 3.049838
GGP 0.850713
GHS 17.609655
GIP 0.850713
GMD 76.520298
GNF 9660.63171
GTQ 8.642567
GYD 233.866865
HKD 8.701854
HNL 27.734781
HRK 7.594958
HTG 147.340329
HUF 394.325395
IDR 16862.310423
ILS 4.193842
IMP 0.850713
INR 93.28429
IQD 1464.608618
IRR 47020.184922
ISK 152.323096
JEP 0.850713
JMD 175.656948
JOD 0.791665
JPY 158.837019
KES 144.22468
KGS 94.14088
KHR 4537.973401
KMF 493.018125
KPW 1005.36065
KRW 1485.761989
KWD 0.340516
KYD 0.931732
KZT 535.488455
LAK 24688.058616
LBP 100120.360598
LKR 340.334086
LRD 223.60779
LSL 19.480105
LTL 3.298412
LVL 0.675704
LYD 5.325711
MAD 10.842591
MDL 19.510432
MGA 5037.455838
MKD 61.670102
MMK 3628.193592
MNT 3795.79733
MOP 8.97552
MRU 44.25794
MUR 51.251405
MVR 17.158436
MWK 1938.706188
MXN 21.561716
MYR 4.671621
MZN 71.324681
NAD 19.480105
NGN 1831.914005
NIO 41.146764
NOK 11.711141
NPR 149.618968
NZD 1.787354
OMR 0.430023
PAB 1.118089
PEN 4.197394
PGK 4.438966
PHP 61.937515
PKR 310.954552
PLN 4.274947
PYG 8727.720029
QAR 4.076069
RON 4.974525
RSD 117.085522
RUB 103.440971
RWF 1505.731882
SAR 4.191907
SBD 9.279414
SCR 14.899487
SDG 671.918347
SEK 11.341279
SGD 1.439918
SHP 0.850713
SLE 25.521993
SLL 23424.35363
SOS 638.970916
SRD 33.347817
STD 23121.054172
SVC 9.782741
SYP 2806.667024
SZL 19.465218
THB 36.952903
TJS 11.884819
TMT 3.909738
TND 3.386365
TOP 2.61629
TRY 38.074039
TTD 7.59979
TWD 35.674679
TZS 3042.560594
UAH 46.331582
UGX 4151.672326
USD 1.117068
UYU 45.930216
UZS 14243.726675
VEF 4046637.851088
VES 41.058342
VND 27412.851
VUV 132.620568
WST 3.124956
XAF 656.537735
XAG 0.035844
XAU 0.00043
XCD 3.018932
XDR 0.828633
XOF 656.537735
XPF 119.331742
YER 279.630082
ZAR 19.542269
ZMK 10054.950521
ZMW 29.096607
ZWL 359.69547
  • RIO

    2.2700

    65.18

    +3.48%

  • CMSC

    0.0650

    25.12

    +0.26%

  • SCS

    -0.8000

    13.31

    -6.01%

  • BTI

    -0.3100

    37.57

    -0.83%

  • CMSD

    0.0300

    25.01

    +0.12%

  • BCE

    -0.4200

    35.19

    -1.19%

  • RBGPF

    60.5000

    60.5

    +100%

  • BP

    0.3300

    32.76

    +1.01%

  • RYCEF

    -0.0200

    6.93

    -0.29%

  • NGG

    -1.2200

    68.83

    -1.77%

  • BCC

    7.6300

    144.69

    +5.27%

  • RELX

    0.7600

    48.13

    +1.58%

  • GSK

    -0.8100

    41.62

    -1.95%

  • JRI

    -0.0400

    13.4

    -0.3%

  • AZN

    0.3200

    78.9

    +0.41%

  • VOD

    -0.1700

    10.06

    -1.69%

'Time to deliver': pressure grows for climate deal in Dubai
'Time to deliver': pressure grows for climate deal in Dubai / Photo: Giuseppe CACACE - AFP

'Time to deliver': pressure grows for climate deal in Dubai

The president of the UN's COP28 climate talks urged negotiators to compromise on Sunday, warning "failure is not an option" as efforts to reach a deal on phasing out fossil fuels met resistance from top oil exporter Saudi Arabia.

Text size:

Less than 48 hours before Tuesday's scheduled deadline, the United Arab Emirates' COP28 chief Sultan Al Jaber said: "I want everyone to show flexibility to act with urgency and to find the common ground.

"The time has come for us to shift gears. The time has come for us to deliver," he told reporters.

- 'We need to find consensus' -

Jaber organised a majlis -- a traditional Gulf Arab meeting held in a circle -- with ministers in a bid to reach a compromise.

"Failure is not an option. What we are after is the common good. What we're after is what in the best interest of everyone, everywhere," he said ahead of the meeting.

"We need to find consensus and common ground on fossil fuel, including coal," Jaber added.

Earlier, Germany's chief negotiator Jennifer Morgan urged Jaber, the UAE's climate envoy and state oil company chief, to push for an ambitious agreement.

"There is a real urgency of action to keep the planetary pain threshold of 1.5 degrees in reach," she said, referring to the goal outlined in the 2015 Paris agreement.

"The COP presidency has reiterated many times that they are here to facilitate an ambitious decision. This means there needs to be strong language on the phase-out of fossil fuels in line with 1.5C."

- 'Blockers at every stage' -

Saudi Arabia, the world's top oil exporter, is said to be the chief opponent of attempts to phase down or phase out fossil fuels, along with India, a major coal producer and consumer.

"I've been following Saudi Arabia in this process for over 30 years and they have been blockers at every stage," said Alden Meyer, senior associate at E3G climate think-tank.

"However, if the (COP28) presidency and other countries can succeed in getting China, India, Russia and others to move and accept some kind of language on fossil fuel phase-out, the pressure on the Saudis will be overwhelming."

A strong final agreement also depends on wealthier nations pledging to provide financial help so that emerging nations can install more solar and wind technology and adapt to the impacts of climate change.

"It is clear that least developed countries will not be able to go at the same speed as G20 economic powerhouses," Morgan said.

"They have to meet development needs but also have the opportunity now to leapfrog unsustainable decisions. This is why we need a package that combines energy transition and energy access."

- 'Deep cuts' -

United Nations Secretary-General Antonio Guterres kept up the pressure, urging delegates to agree big cuts to emissions and calling on oil and gas companies to lead the energy transition.

"I urge fossil fuel companies to use their enormous resources to lead the renewables revolution," he told the Doha Forum in Qatar.

"And I urge global leaders at COP28 in Dubai to agree on deep cuts to emissions in line with 1.5 degrees. That is the only road not only to climate sustainability, but economic sustainability."

- Prayers from the Pope -

At St. Peter's Square in the Vatican, Pope Francis, who missed COP28 following a bout of bronchitis, instructed his followers to pray for a good outcome in Dubai.

"I ask you to pray for us to have good results to safeguard our common home and protect populations," he said during his weekly public prayers.

- 'Not nearly enough' -

Adding further urgency, the International Energy Agency released an assessment showing that non-binding pledges by governments and oil and gas companies so far at COP28 would fall far short of what is required.

The pledges -- tripling renewable energy and doubling energy efficiency by 2030, and sharply reducing methane emissions by energy companies -- would cut energy-related greenhouse gas emissions by only 30 percent of what is needed by 2030, the IEA said.

"While the pledges are positive steps... they would not be nearly enough to move the world onto a path to reaching international climate targets, in particular the goal of limiting global warming to 1.5 degrees Celsius," it said.

(S.G.Stein--BBZ)