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

EUR -
AED 4.256248
AFN 76.490971
ALL 92.792124
AMD 422.44687
ANG 2.07427
AOA 1062.75707
ARS 1732.616553
AUD 1.63944
AWG 2.086111
AZN 1.994262
BAM 1.958344
BBD 2.334573
BDT 141.413674
BGN 1.966004
BHD 0.437066
BIF 3463.385781
BMD 1.15895
BND 1.480962
BOB 13.416426
BRL 6.041378
BSD 1.159126
BTN 110.850499
BWP 15.646593
BYN 3.525564
BYR 22715.425801
BZD 2.331218
CAD 1.608574
CDF 2630.817445
CHF 0.939851
CLF 0.027192
CLP 1070.221371
CNY 7.815148
CNH 7.813087
COP 3598.401595
CRC 520.674028
CUC 1.15895
CUP 30.712183
CVE 110.406496
CZK 24.190302
DJF 206.411659
DKK 7.475902
DOP 68.088142
DZD 154.035311
EGP 58.498248
ERN 17.384254
ETB 187.506533
FJD 2.561856
FKP 0.855763
GBP 0.855647
GEL 3.018996
GGP 0.855763
GHS 12.808692
GIP 0.855763
GMD 85.761892
GNF 10182.181139
GTQ 8.841446
GYD 242.506024
HKD 9.090841
HNL 31.078232
HRK 7.534797
HTG 151.620857
HUF 365.893933
IDR 20661.765877
ILS 3.46671
IMP 0.855763
INR 110.922611
IQD 1518.491938
IRR 1593064.10296
ISK 142.214963
JEP 0.855763
JMD 183.15421
JOD 0.821676
JPY 184.55878
KES 150.089338
KGS 101.350078
KHR 4689.211939
KMF 493.712694
KPW 1043.055607
KRW 1619.407026
KWD 0.357872
KYD 0.96595
KZT 535.353031
LAK 26123.155315
LBP 103798.570367
LKR 384.743041
LRD 210.382346
LSL 18.804348
LTL 3.422078
LVL 0.701037
LYD 7.38572
MAD 10.769935
MDL 19.994884
MGA 4992.570729
MKD 61.605015
MMK 2432.921723
MNT 4168.919085
MOP 9.364484
MRU 46.487179
MUR 54.447114
MVR 17.916871
MWK 2009.980023
MXN 19.771605
MYR 4.708772
MZN 74.062734
NAD 18.804267
NGN 1564.860938
NIO 42.647849
NOK 10.899064
NPR 177.360599
NZD 1.974069
OMR 0.445616
PAB 1.159105
PEN 3.903904
PGK 5.208743
PHP 71.65439
PKR 321.689776
PLN 4.326849
PYG 6993.203764
QAR 4.236985
RON 5.242977
RSD 117.314761
RUB 98.39405
RWF 1707.977346
SAR 4.342108
SBD 9.301517
SCR 16.064083
SDG 697.102722
SEK 11.043122
SGD 1.479823
SHP 0.858627
SLE 28.568026
SLL 24302.607335
SOS 662.483328
SRD 44.001839
STD 23987.931215
STN 24.531757
SVC 10.142085
SYP 15068.671639
SZL 18.790731
THB 38.397149
TJS 10.710165
TMT 4.056326
TND 3.394594
TOP 2.790474
TRY 55.554972
TTD 7.860277
TWD 36.971708
TZS 3068.872573
UAH 51.924438
UGX 4323.634381
USD 1.15895
UYU 46.760533
UZS 13700.913572
VES 894.219218
VND 30340.159798
VUV 137.005872
WST 3.14759
XAF 656.832793
XAG 0.018496
XAU 0.000267
XCD 3.132121
XCG 2.08904
XDR 0.819438
XOF 656.821444
XPF 119.331742
YER 274.776137
ZAR 18.842579
ZMK 10431.945789
ZMW 21.646489
ZWL 373.181522
  • CMSC

    -0.1200

    21.24

    -0.56%

  • RBGPF

    0.3500

    69

    +0.51%

  • RYCEF

    -0.2500

    20.81

    -1.2%

  • BCC

    -1.7600

    80.18

    -2.2%

  • JRI

    -0.0400

    12.44

    -0.32%

  • VOD

    -0.0700

    16.13

    -0.43%

  • RELX

    0.9500

    34.51

    +2.75%

  • NGG

    0.8600

    82.15

    +1.05%

  • BCE

    0.0100

    23.36

    +0.04%

  • RIO

    -0.5200

    96.69

    -0.54%

  • CMSD

    -0.0900

    21.09

    -0.43%

  • GSK

    0.8700

    51.15

    +1.7%

  • AZN

    3.2100

    160.1

    +2%

  • BP

    0.5600

    43.41

    +1.29%

  • BTI

    0.6500

    56.38

    +1.15%

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