Zürcher Nachrichten - OPEC push on fossil fuels draws ire at climate talks

EUR -
AED 4.333943
AFN 77.886842
ALL 96.792942
AMD 447.296501
ANG 2.112488
AOA 1082.159122
ARS 1713.458937
AUD 1.696407
AWG 2.124194
AZN 1.996602
BAM 1.947356
BBD 2.379383
BDT 144.483519
BGN 1.981838
BHD 0.444943
BIF 3498.430304
BMD 1.180108
BND 1.500606
BOB 8.192823
BRL 6.20808
BSD 1.181378
BTN 108.03203
BWP 15.549237
BYN 3.382732
BYR 23130.117712
BZD 2.375908
CAD 1.613538
CDF 2543.133159
CHF 0.919263
CLF 0.025867
CLP 1021.391854
CNY 8.197621
CNH 8.187991
COP 4274.41035
CRC 586.16336
CUC 1.180108
CUP 31.272863
CVE 110.782636
CZK 24.314731
DJF 209.728756
DKK 7.46822
DOP 74.287605
DZD 153.336689
EGP 55.568333
ERN 17.701621
ETB 183.211244
FJD 2.604026
FKP 0.861189
GBP 0.863178
GEL 3.180407
GGP 0.861189
GHS 12.928055
GIP 0.861189
GMD 86.725765
GNF 10327.125434
GTQ 9.064695
GYD 247.168748
HKD 9.216882
HNL 31.213903
HRK 7.536877
HTG 154.830622
HUF 380.943748
IDR 19785.927529
ILS 3.659326
IMP 0.861189
INR 106.761956
IQD 1546.531595
IRR 49712.051645
ISK 145.200535
JEP 0.861189
JMD 185.488081
JOD 0.836727
JPY 183.523283
KES 152.387676
KGS 103.200652
KHR 4750.534523
KMF 493.285478
KPW 1062.097242
KRW 1711.664242
KWD 0.362458
KYD 0.984473
KZT 596.578289
LAK 25366.422407
LBP 100958.242999
LKR 365.838373
LRD 219.499673
LSL 19.011247
LTL 3.484552
LVL 0.713836
LYD 7.458173
MAD 10.808314
MDL 20.001122
MGA 5251.480408
MKD 61.658671
MMK 2478.210923
MNT 4206.642931
MOP 9.503692
MRU 47.121434
MUR 53.872178
MVR 18.232606
MWK 2049.847706
MXN 20.52202
MYR 4.671456
MZN 75.231947
NAD 19.011085
NGN 1641.53047
NIO 43.30141
NOK 11.441467
NPR 172.851978
NZD 1.962741
OMR 0.453763
PAB 1.181383
PEN 3.972238
PGK 5.001318
PHP 69.531845
PKR 330.135697
PLN 4.221949
PYG 7854.940943
QAR 4.297069
RON 5.095943
RSD 117.395934
RUB 90.220397
RWF 1714.696992
SAR 4.425624
SBD 9.50943
SCR 16.816716
SDG 709.838278
SEK 10.571614
SGD 1.500395
SHP 0.885387
SLE 28.883091
SLL 24746.274816
SOS 674.433345
SRD 44.873592
STD 24425.853934
STN 25.077296
SVC 10.337309
SYP 13051.493324
SZL 19.011467
THB 37.149753
TJS 11.033804
TMT 4.142179
TND 3.36036
TOP 2.841417
TRY 51.311217
TTD 7.998387
TWD 37.281027
TZS 3054.698637
UAH 50.877442
UGX 4219.703348
USD 1.180108
UYU 45.831275
UZS 14456.323222
VES 436.394019
VND 30706.41137
VUV 140.617793
WST 3.199014
XAF 653.152601
XAG 0.014267
XAU 0.000247
XCD 3.189301
XCG 2.129068
XDR 0.810988
XOF 650.832122
XPF 119.331742
YER 281.308231
ZAR 18.963758
ZMK 10622.392479
ZMW 23.184454
ZWL 379.994309
  • RIO

    1.4900

    92.52

    +1.61%

  • SCS

    0.0200

    16.14

    +0.12%

  • NGG

    -0.6600

    84.61

    -0.78%

  • CMSC

    -0.0100

    23.75

    -0.04%

  • BTI

    0.3100

    60.99

    +0.51%

  • RBGPF

    0.1000

    82.5

    +0.12%

  • RYCEF

    0.7000

    16.7

    +4.19%

  • CMSD

    0.0300

    24.08

    +0.12%

  • BCE

    -0.0300

    25.83

    -0.12%

  • GSK

    0.8700

    52.47

    +1.66%

  • BCC

    0.9400

    81.75

    +1.15%

  • BP

    -0.1800

    37.7

    -0.48%

  • RELX

    -0.2700

    35.53

    -0.76%

  • AZN

    1.3100

    188.41

    +0.7%

  • JRI

    0.0700

    13.15

    +0.53%

  • VOD

    0.2600

    14.91

    +1.74%

OPEC push on fossil fuels draws ire at climate talks
OPEC push on fossil fuels draws ire at climate talks / Photo: Giuseppe CACACE - AFP/File

OPEC push on fossil fuels draws ire at climate talks

Negotiations over the future of fossil fuels heated up at UN climate talks on Saturday, with OPEC catching flak over the oil cartel's push to block any phase-out in the final deal.

Text size:

The tone has veered between optimism and concern about the pace of talks as negotiators have held marathon sessions aimed at finding a compromise on the fate of oil, gas and coal.

OPEC added fuel to the fire after it emerged that its Kuwaiti secretary general, Haitham Al Ghais, sent a letter to the group's 13 members and 10 allies this week urging them to "proactively reject" any language that "targets" fossil fuels instead of emissions.

"I think that it is quite, quite a disgusting thing that OPEC countries are pushing against getting the bar where it has to be," Spanish ecology transition minister Teresa Ribera, whose country holds the rotating EU presidency, told reporters.

Dramatically scaling up the deployment of renewable energy while winding down the production and consumption of fossil fuels is crucial to achieve the global goal of limiting warming to 1.5 degrees Celsius.

The High Ambition Coalition, a broad group of nations ranging from Barbados to France, Kenya and Pacific island states, also criticised the OPEC move.

"Nothing puts the prosperity and future of all people on Earth, including all of the citizens of OPEC countries, at greater risk than fossil fuels," said Tina Stege, climate envoy for the Marshall Islands, which chairs the coalition.

"1.5 is not negotiable, and that means an end to fossil fuels," Stege added.

- Iraq supports OPEC -

A third draft deal released Friday offers various ways to phase out of fossil fuels, but it also includes the option to not mention them at all in the final text.

Saudi Arabia had until now been the most vocal country against a phase-out or phase-down of fossil fuels.

In the OPEC letter sent Wednesday, Ghais said it "seems that the undue and disproportionate pressure against fossil fuels may reach a tipping point with irreversible consequences".

Assem Jihad, spokesman for Iraq's oil ministry, told AFP his country supports the OPEC letter.

Iraqi oil minister Hayan Abdel Ghani "has rejected attempts to target fossil fuels", Jihad said.

He added that Ghani has tasked Iraq's COP28 delegation to "ensure that the wording of the final statement puts the emphasis on world cooperation on a reduction of emissions in order to preserve the environment and climate".

But another OPEC member, COP28 host the United Arab Emirates, has taken a conciliatory tone throughout the negotiations and acknowledged that a phase-down was "inevitable".

- 'Critical stage' -

Canadian climate minister Steven Guilbeault told AFP he was "confident" that the final text would contain language on fossil fuels.

Guilbeault is among a group of ministers who have been tasked by COP28 president Sultan Al Jaber to shepherd the negotiations and find an agreement by Tuesday, when the summit is due to end.

"It's a conversation that will last a few more days," Guilbeault said.

"Different groups are talking and trying to understand on what we could agree, but it's still quite an embryonic conversation," he added.

German climate envoy Jennifer Morgan said countries were "now moving into the critical stage of negotiations" but she was "concerned that not all are constructively engaging".

Fresh calls for a phase-out were made by ministers addressing a plenary session on Saturday.

"We are extremely concerned about the pace of the negotiations, given the limited time we have left here in Dubai," said Toeolesulusulu Cedric Schuster, chairman of the Alliance of Small Island States (AOSIS).

AOSIS has pushed hard for a phase-out, warning that their nations were on the frontlines of climate change, with rising seas threatening their existence.

"I implore you, let this COP28 be the summit where we leaders are remembered for turning the tide," Schuster said, adding that stepping up renewable energy "cannot be a substitute for a stronger commitment to fossil fuel phase-out."

A.Weber--NZN