The Prague Post - UN draft deal calls for 'transitioning away' from fossil fuels

EUR -
AED 4.278161
AFN 76.297883
ALL 92.157796
AMD 423.29876
ANG 2.08495
AOA 1069.394468
ARS 1761.092699
AUD 1.612744
AWG 2.099764
AZN 1.984907
BAM 1.957998
BBD 2.345132
BDT 143.245092
BGN 1.976127
BHD 0.439017
BIF 3479.80014
BMD 1.164918
BND 1.472623
BOB 14.583996
BRL 5.934051
BSD 1.164307
BTN 110.805608
BWP 15.632285
BYN 3.566271
BYR 22832.384687
BZD 2.341859
CAD 1.604138
CDF 2685.135012
CHF 0.940316
CLF 0.027286
CLP 1077.338936
CNY 7.817238
CNH 7.809625
COP 3631.164608
CRC 529.219019
CUC 1.164918
CUP 30.870316
CVE 110.388908
CZK 24.245078
DJF 207.352537
DKK 7.474554
DOP 68.426807
DZD 154.900164
EGP 59.640757
ERN 17.473764
ETB 190.217578
FJD 2.555757
FKP 0.860237
GBP 0.859004
GEL 3.029274
GGP 0.860237
GHS 13.303504
GIP 0.860237
GMD 85.625531
GNF 10235.620985
GTQ 8.895985
GYD 243.614953
HKD 9.135551
HNL 31.245072
HRK 7.53679
HTG 152.278117
HUF 363.935979
IDR 20355.769899
ILS 3.518403
IMP 0.860237
INR 110.797351
IQD 1525.312118
IRR 1601266.590582
ISK 140.407499
JEP 0.860237
JMD 183.74625
JOD 0.825912
JPY 178.583614
KES 150.798738
KGS 101.871667
KHR 4718.559732
KMF 493.925214
KPW 1048.42617
KRW 1556.85379
KWD 0.359575
KYD 0.970335
KZT 529.223568
LAK 26063.710057
LBP 104271.517233
LKR 382.570771
LRD 203.189412
LSL 18.69048
LTL 3.439699
LVL 0.704647
LYD 7.365267
MAD 10.88662
MDL 20.114528
MGA 5000.892396
MKD 61.589132
MMK 2445.673709
MNT 4191.710574
MOP 9.405482
MRU 46.608316
MUR 54.576226
MVR 17.997461
MWK 2019.061665
MXN 19.696648
MYR 4.741195
MZN 74.450007
NAD 18.69048
NGN 1541.896902
NIO 42.850121
NOK 10.697578
NPR 177.289373
NZD 1.990239
OMR 0.447921
PAB 1.164357
PEN 3.900362
PGK 5.253897
PHP 72.791002
PKR 322.861618
PLN 4.314138
PYG 6871.713298
QAR 4.244765
RON 5.255061
RSD 117.377019
RUB 99.541748
RWF 1716.908241
SAR 4.374903
SBD 9.312373
SCR 15.99083
SDG 700.694472
SEK 11.149187
SGD 1.471838
SHP 0.863048
SLE 28.647177
SLL 24427.738421
SOS 665.4784
SRD 44.176018
STD 24111.442073
STN 24.527531
SVC 10.188436
SYP 15146.258345
SZL 18.696227
THB 38.31437
TJS 10.753278
TMT 4.088861
TND 3.388303
TOP 2.804842
TRY 56.472001
TTD 7.906248
TWD 36.647146
TZS 3075.385935
UAH 52.020191
UGX 4406.946669
USD 1.164918
UYU 46.852591
UZS 13768.45469
VES 947.861346
VND 30179.519903
VUV 137.438378
WST 3.165557
XAF 656.730805
XAG 0.017602
XAU 0.000265
XCD 3.148248
XCG 2.098573
XDR 0.823657
XOF 656.69412
XPF 119.331742
YER 276.144029
ZAR 18.691394
ZMK 10485.668944
ZMW 22.414121
ZWL 375.102987
  • RBGPF

    -1.0000

    69

    -1.45%

  • RYCEF

    -0.2900

    19.55

    -1.48%

  • CMSC

    0.0600

    20.88

    +0.29%

  • NGG

    0.0150

    78.075

    +0.02%

  • GSK

    0.3100

    48.85

    +0.63%

  • VOD

    -0.0600

    17.25

    -0.35%

  • BCE

    -0.3100

    23.34

    -1.33%

  • AZN

    -1.8100

    158.23

    -1.14%

  • CMSD

    0.0400

    20.72

    +0.19%

  • BTI

    -0.3850

    54.765

    -0.7%

  • RELX

    -0.3300

    34.37

    -0.96%

  • JRI

    -0.0350

    12.165

    -0.29%

  • BCC

    -0.1400

    76.72

    -0.18%

  • BP

    0.6550

    45.535

    +1.44%

  • RIO

    0.0200

    103.85

    +0.02%

UN draft deal calls for 'transitioning away' from fossil fuels
UN draft deal calls for 'transitioning away' from fossil fuels / Photo: Giuseppe CACACE - AFP

UN draft deal calls for 'transitioning away' from fossil fuels

A draft UN climate deal called Wednesday for the world to transition away from fossil fuels, in a last-ditch bid to break a deadlock between nations seeking a phase-out from oil, gas and coal and Saudi-led crude producers.

Text size:

Following all-night negotiations, the text proposed by the Emirati presidency of the COP28 summit in Dubai would, if approved, mark the first time that all fossil fuels are addressed in the 28-year history of international climate conferences.

The text calls for "transitioning away from fossil fuels in energy systems, in a just, orderly and equitable manner, accelerating action in this critical decade, so as to achieve net zero by 2050 in keeping with the science".

But the document does not mention the "phase-out" demanded by Western nations and low-lying island states most vulnerable to rising seas and tropical storms.

The COP28 presidency scheduled a plenary session at 9:30 am (0530 GMT) in the hope of the text receiving consensus approval from nearly 200 nations.

Stephen Cornelius of the conservation group WWF called the new draft a "sorely needed improvement", while still voicing disappointment at the lack of a full-on "phase-out" of fossil fuels.

"If this text is agreed by countries, it would represent a significant moment," he said.

- Stronger calls -

The two-week conference in Dubai, a glitzy metropolis built on petrodollars, was supposed to end Tuesday but went into overtime as nations struggled to agree on what to do with fossil fuels, the main culprits of the climate crisis.

COP28 president Sultan Al Jaber, who heads the United Arab Emirates' national oil company, was viewed with suspicion by climate campaigners worried that the fossil fuel industry would prevail again.

Jaber had proposed a draft on Monday that was roundly rejected as too weak for merely suggesting that nations "could" reduce the consumption and production of fossil fuels, among other options.

The new draft explicitly "calls on" all nations to contribute through a series of actions, including transitioning from fossil fuels.

While not using the term "phase-out" on fossil fuels, it endorses work towards a phase-down of "unabated coal power" -- meaning that coal with carbon capture technology to reduce emissions, panned by many environmentalists as unproven, could continue.

It also calls for "phasing out inefficient fossil fuel subsidies that do not address energy poverty or just transitions, as soon as possible".

Island nations, backed by Western powers, responded that they would not sign their own "death warrant", forcing Jaber back to the drawing board.

Jaber held talks deep into the night with negotiators from across the world in his office in the sprawling Expo City complex.

European officials had signalled that they were willing to find compromise language while US climate envoy John Kerry said "progress" was made in the talks.

- 'Super-majority' vs OPEC nations -

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

More than 130 countries from Europe, the Pacific, the Caribbean and the Americas, including Brazil and the United States, joined forces to call for an exit from oil, gas and coal.

EU climate chief Wopke Hoekstra said a "super majority" of the nearly 200 countries in the talks wanted stronger action on fossil fuels.

Saudi Arabia, Kuwait and Iraq have been the most vocal opponents of a phase-out, and the OPEC oil cartel had urged its members to block any deal targeting fossil fuels.

At an energy conference in neighbouring Qatar on Tuesday, Kuwaiti oil minister Saad Hamad Nasser Al Barrak said a phase-out was a "racist and colonial" proposal that would wreck economies in the region.

Iraq's oil minister, Hayyan Abdul Ghani Al Sawad, said: "Fossil fuels will remain the major source of energy in the whole world".

Y.Blaha--TPP