The Fort Worth Press - 'Not a minute to lose': Clock ticks on fossil fuel deal at climate summit

USD -
AED 3.672504
AFN 64.000368
ALL 80.660025
AMD 364.155001
ANG 1.790365
AOA 918.000367
ARS 1524.750402
AUD 1.417435
AWG 1.8
AZN 1.70397
BAM 1.716593
BBD 2.014833
BDT 123.096502
BGN 1.683441
BHD 0.377145
BIF 3013.033747
BMD 1
BND 1.278097
BOB 12.259622
BRL 5.188104
BSD 1.000307
BTN 95.794093
BWP 13.621802
BYN 3.022425
BYR 19600
BZD 2.011937
CAD 1.41345
CDF 2340.000362
CHF 0.828271
CLF 0.024357
CLP 961.770396
CNY 6.71325
CNH 6.734304
COP 3348.488173
CRC 454.820731
CUC 1
CUP 24.008426
CVE 96.778865
CZK 21.384404
DJF 178.136657
DKK 6.562804
DOP 59.49006
DZD 134.160706
EGP 51.788213
ERN 15
ETB 162.282003
EUR 0.87791
FJD 2.24725
FKP 0.754924
GBP 0.754689
GEL 2.61504
GGP 0.754924
GHS 11.618906
GIP 0.754924
GMD 73.503851
GNF 8797.998859
GTQ 7.639444
GYD 209.30355
HKD 7.842504
HNL 26.849519
HRK 6.613804
HTG 130.916751
HUF 320.61504
IDR 17914.1
ILS 3.04806
IMP 0.754924
INR 95.817504
IQD 1310.484048
IRR 1374575.000352
ISK 120.260386
JEP 0.754924
JMD 158.265678
JOD 0.70904
JPY 157.24504
KES 129.644095
KGS 87.448204
KHR 4068.10901
KMF 433.00035
KPW 900.000318
KRW 1354.240383
KWD 0.30864
KYD 0.833633
KZT 443.156186
LAK 22438.232325
LBP 89581.428007
LKR 330.293588
LRD 172.063018
LSL 16.32106
LTL 2.95274
LVL 0.60489
LYD 6.395752
MAD 9.599596
MDL 17.756616
MGA 4416.553298
MKD 54.043972
MMK 2099.36214
MNT 3596.164164
MOP 8.082152
MRU 40.243999
MUR 47.530378
MVR 15.450378
MWK 1734.585509
MXN 17.760378
MYR 4.074104
MZN 63.910377
NAD 16.32106
NGN 1326.380377
NIO 36.810462
NOK 9.50785
NPR 153.270725
NZD 1.749629
OMR 0.385571
PAB 1.000307
PEN 3.395971
PGK 4.456927
PHP 62.347038
PKR 277.197262
PLN 3.83775
PYG 5896.344407
QAR 3.646377
RON 4.629204
RSD 103.085092
RUB 84.346338
RWF 1478.474569
SAR 3.755913
SBD 8.000512
SCR 13.863038
SDG 601.503676
SEK 9.91775
SGD 1.278404
SHP 0.755002
SLE 24.650371
SLL 20969.491881
SOS 571.729495
SRD 37.667504
STD 20697.981008
STN 21.503489
SVC 8.753236
SYP 13002.000254
SZL 16.317198
THB 33.375038
TJS 9.228244
TMT 3.51
TND 2.961425
TOP 2.40776
TRY 48.942504
TTD 6.803879
TWD 31.728704
TZS 2654.934831
UAH 44.794751
UGX 3918.023434
UYU 40.075482
UZS 11839.206565
VES 852.43145
VND 25976
VUV 118.388248
WST 2.745723
XAF 575.871484
XAG 0.015553
XAU 0.000233347179
XCD 2.70255
XCG 1.80287
XDR 0.707052
XOF 575.871484
XPF 104.673717
YER 236.650363
ZAR 16.190363
ZMK 9001.203584
ZMW 19.513758
ZWL 321.999592
SSP 5712.591904
MXV 2.012596
  • RIO

    -0.3300

    97.04

    -0.34%

  • CMSC

    -0.0400

    20.67

    -0.19%

  • RELX

    0.0000

    33.41

    0%

  • RBGPF

    0.0000

    67.95

    0%

  • BCE

    -0.0700

    21.99

    -0.32%

  • BCC

    -0.0300

    75.66

    -0.04%

  • GSK

    0.8600

    51.08

    +1.68%

  • JRI

    -0.0300

    11.52

    -0.26%

  • NGG

    -0.1200

    76.68

    -0.16%

  • CMSD

    0.0900

    20.54

    +0.44%

  • BTI

    -0.0800

    55.75

    -0.14%

  • AZN

    2.0200

    168.1

    +1.2%

  • BP

    -1.4200

    43.16

    -3.29%

  • RYCEF

    0.4600

    19.7

    +2.34%

  • VOD

    0.0700

    17.02

    +0.41%

'Not a minute to lose': Clock ticks on fossil fuel deal at climate summit
'Not a minute to lose': Clock ticks on fossil fuel deal at climate summit / Photo: © AFP

'Not a minute to lose': Clock ticks on fossil fuel deal at climate summit

The UN climate chief on Monday urged an end to obstruction a day before the deadline for a deal at a summit in Dubai, with oil producers resisting historic calls for the world to wind down fossil fuels.

Text size:

With barely 24 hours before the official close of COP28 in Dubai, negotiators spent a sleepless night trying to find an agreement that can find consensus among all the nearly 200 countries.

Spurred by pleas by low-lying island nations that fear for their very existence, the conference in the glitzy metropolis built by oil money is considering the first-ever call to exit oil, gas and coal, the main culprit in the planet's climate crisis.

"We do not have a minute to lose," Simon Stiell, the head of the UN climate body, told reporters under the morning sun.

Without naming countries, Stiell called for a clearing of "unnecessary tactical blockades" holding up a deal.

"Any strategic landmines that blow it up for one, blow it up for all," Stiell said.

He urged countries to preserve the "highest ambition" to check warming at no more than 1.5 degrees Celsius above pre-industrial levels -- the increasingly elusive goal blessed by the 2015 Paris accord to avoid the worst ravages of climate change including worsening storms and droughts and rising sea levels.

"One thing is for certain: 'I win, you lose' is a recipe for collective failure. Ultimately, it is eight billion people's security that is at stake."

- Down to two issues -

Stiell said that the summit disagreements had narrowed down to two issues -- fossil fuels and speeding up climate finance by the wealthy nations to worst-hit developing countries.

The summit leadership is expected to release a new draft text on Monday.

The annual Conference of the Parties, or COP, has rarely finished on schedule in its 28-year history, but COP28 president Sultan Al Jaber has called on countries to wrap things up on time on Tuesday.

Jaber, the head of the national oil company of the United Arab Emirates, has repeatedly promised to deliver a historic deal and urged countries to find a "consensus and common ground" on fossil fuel.

"Failure is not an option," he said on Sunday.

Saudi Arabia, the world's top oil exporter, has opposed any phase-out or phase-down of fossil fuels and told COP28 that its "perspectives and concerns" must be taken into account.

Iraq has also publicly rejected an exit from fossil fuels.

But veteran climate campaigners and negotiators say the world has never been so close to a deal on winding down oil, gas and coal.

The pressure is now on Jaber -- whose role as oil executive has caused angst among climate campaigners -- to make the final edits to a deal that would bring a consensus.

- China-US cooperation -

The last draft agreement released on Friday includes four different paths out of fossil fuels, but it also has a fifth option: leaving the issue out of the final deal.

China, the world's biggest emitter, was also initially seen as hostile to a phase-out but has since been working to find a compromise.

China and the United States, the largest historic emitter, last month in pre-COP28 talks in California agreed to speed up the deployment of renewable energy to gradually replace oil, gas and coal.

Friday's draft deal includes similar language on the need to triple renewable energy capacity by 2030, to "displace fossil fuel-based energy".

The United States, whose climate envoy John Kerry was celebrating his 80th birthday on Monday during the Dubai negotiations, has surprised some observers by also throwing its weight behind a phase-out.

But the United States also is the world's largest oil producer, and the rival Republican Party includes staunch opponents of curbing fossil fuels.

W.Matthews--TFWP