The Prague Post - UN climate talks home in on fossil fuel deal

EUR -
AED 4.256694
AFN 73.006558
ALL 96.183185
AMD 437.462357
ANG 2.074413
AOA 1062.652651
ARS 1616.583177
AUD 1.634887
AWG 2.088802
AZN 1.968976
BAM 1.975086
BBD 2.334991
BDT 142.252756
BGN 1.980809
BHD 0.437517
BIF 3441.742426
BMD 1.158836
BND 1.487395
BOB 8.011612
BRL 6.048742
BSD 1.159341
BTN 108.010902
BWP 15.820233
BYN 3.584907
BYR 22713.182337
BZD 2.331679
CAD 1.591719
CDF 2636.351736
CHF 0.91339
CLF 0.026784
CLP 1057.587983
CNY 7.996489
CNH 7.972918
COP 4277.55277
CRC 542.427133
CUC 1.158836
CUP 30.70915
CVE 112.464864
CZK 24.472182
DJF 205.948898
DKK 7.471133
DOP 68.168493
DZD 153.256108
EGP 60.532024
ERN 17.382538
ETB 182.173906
FJD 2.558248
FKP 0.869907
GBP 0.862579
GEL 3.146225
GGP 0.869907
GHS 12.629381
GIP 0.869907
GMD 85.754443
GNF 10171.680078
GTQ 8.868484
GYD 242.551028
HKD 9.078147
HNL 30.790613
HRK 7.5344
HTG 152.071514
HUF 390.82922
IDR 19560.279743
ILS 3.624074
IMP 0.869907
INR 108.151817
IQD 1518.074942
IRR 1524013.975298
ISK 143.799646
JEP 0.869907
JMD 182.132997
JOD 0.821554
JPY 182.779731
KES 150.179997
KGS 101.337763
KHR 4646.931796
KMF 495.9811
KPW 1042.938319
KRW 1723.368534
KWD 0.354812
KYD 0.96618
KZT 557.540752
LAK 24885.999794
LBP 103773.749324
LKR 361.379075
LRD 212.536652
LSL 19.502855
LTL 3.421741
LVL 0.700968
LYD 7.393341
MAD 10.845255
MDL 20.31736
MGA 4826.550671
MKD 61.840893
MMK 2433.253315
MNT 4155.40254
MOP 9.354227
MRU 46.481248
MUR 53.891672
MVR 17.903794
MWK 2012.897608
MXN 20.545118
MYR 4.564685
MZN 74.050655
NAD 19.503121
NGN 1573.11839
NIO 42.552008
NOK 10.987384
NPR 172.811971
NZD 1.971968
OMR 0.445583
PAB 1.159381
PEN 4.0032
PGK 4.985268
PHP 68.413043
PKR 323.488759
PLN 4.267587
PYG 7533.334191
QAR 4.223496
RON 5.094213
RSD 117.478165
RUB 99.83641
RWF 1690.741481
SAR 4.350755
SBD 9.326986
SCR 17.598041
SDG 696.460551
SEK 10.757867
SGD 1.480649
SHP 0.869427
SLE 28.565483
SLL 24300.220556
SOS 662.27146
SRD 43.458668
STD 23985.562074
STN 24.91497
SVC 10.144364
SYP 128.084693
SZL 19.503003
THB 37.627637
TJS 11.10097
TMT 4.055925
TND 3.373661
TOP 2.790198
TRY 51.308384
TTD 7.858106
TWD 36.841128
TZS 3010.068531
UAH 50.982556
UGX 4381.978336
USD 1.158836
UYU 46.959974
UZS 14132.002921
VES 526.906001
VND 30465.794063
VUV 138.374754
WST 3.166195
XAF 662.460109
XAG 0.015907
XAU 0.000249
XCD 3.131812
XCG 2.08942
XDR 0.823884
XOF 662.273593
XPF 119.331742
YER 276.440433
ZAR 19.405896
ZMK 10430.917809
ZMW 22.694786
ZWL 373.144666
  • RBGPF

    -13.5000

    69

    -19.57%

  • CMSC

    0.0200

    22.85

    +0.09%

  • BCE

    -0.0200

    25.73

    -0.08%

  • BTI

    0.6300

    58.72

    +1.07%

  • NGG

    -1.8700

    85.53

    -2.19%

  • AZN

    0.5100

    188.93

    +0.27%

  • BP

    1.2500

    45.86

    +2.73%

  • RIO

    -2.0700

    85.65

    -2.42%

  • GSK

    0.3100

    52.37

    +0.59%

  • RYCEF

    -0.5900

    16.01

    -3.69%

  • RELX

    -0.0400

    33.82

    -0.12%

  • BCC

    -1.9800

    69.86

    -2.83%

  • JRI

    -0.1630

    12.16

    -1.34%

  • VOD

    0.0500

    14.42

    +0.35%

  • CMSD

    0.0100

    22.9

    +0.04%

UN climate talks home in on fossil fuel deal
UN climate talks home in on fossil fuel deal / Photo: Giuseppe CACACE - AFP

UN climate talks home in on fossil fuel deal

UN climate talks enter their endgame on Monday as negotiators seek to convince an increasingly isolated Saudi Arabia and other holdouts to give up their opposition to a historic phase-out of fossil fuels.

Text size:

With 24 hours to go before the official end of COP28 in Dubai, a new draft deal was expected in the morning in the hope that the right language may have finally been found to achieve a consensus among nearly 200 countries.

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.

It would coincide with the anniversary of the 2015 Paris Agreement, which set the increasingly elusive target of limiting warming to 1.5 degrees Celsius from pre-industrial levels -- Jaber's "North Star".

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.

In a bid to find common ground, Jaber invited ministers on Sunday to lay out their positions during a "majlis" -- a traditional Gulf Arab meeting held in a circle.

"I hope that you won't let me down," he said at the end of the meeting.

- Several options -

Negotiators have failed to produce a new draft agreement since the last text was released on Friday.

The document 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.

Chinese climate envoy Xie Zhenhua recalled on Saturday that the United States and China issued a joint statement last month agreeing on the need to speed up the deployment of renewable energy in order to gradually substitute the use of 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".

Countries are waiting for a new draft deal before putting all their negotiating "chips" on the table, said a source close to the COP28 presidency.

B.Hornik--TPP