Zürcher Nachrichten - UN draft deal calls for 'transitioning away' from fossil fuels

EUR -
AED 4.246655
AFN 73.370436
ALL 95.85756
AMD 436.183723
ANG 2.069944
AOA 1060.363353
ARS 1591.997113
AUD 1.665235
AWG 2.084013
AZN 1.966403
BAM 1.949821
BBD 2.330235
BDT 141.986474
BGN 1.976541
BHD 0.436604
BIF 3434.327888
BMD 1.156339
BND 1.479029
BOB 7.994866
BRL 6.05679
BSD 1.156943
BTN 108.829124
BWP 15.767403
BYN 3.429104
BYR 22664.251381
BZD 2.327115
CAD 1.597489
CDF 2636.453561
CHF 0.915202
CLF 0.02686
CLP 1060.582781
CNY 7.980477
CNH 7.983586
COP 4280.13231
CRC 537.971372
CUC 1.156339
CUP 30.642993
CVE 110.574938
CZK 24.465772
DJF 205.504507
DKK 7.47252
DOP 69.814005
DZD 153.473986
EGP 60.744358
ERN 17.34509
ETB 181.886277
FJD 2.576551
FKP 0.864047
GBP 0.865283
GEL 3.116362
GGP 0.864047
GHS 12.661969
GIP 0.864047
GMD 84.988596
GNF 10152.659388
GTQ 8.855078
GYD 242.07657
HKD 9.041244
HNL 30.66647
HRK 7.536674
HTG 151.720034
HUF 387.345955
IDR 19705.641505
ILS 3.602979
IMP 0.864047
INR 109.375885
IQD 1514.804557
IRR 1518447.025122
ISK 143.189913
JEP 0.864047
JMD 182.245914
JOD 0.819814
JPY 184.257476
KES 150.034967
KGS 101.120955
KHR 4640.390011
KMF 493.756627
KPW 1040.72201
KRW 1739.191954
KWD 0.354522
KYD 0.964189
KZT 558.249982
LAK 24959.585362
LBP 103550.188888
LKR 363.877402
LRD 212.361533
LSL 19.588134
LTL 3.414369
LVL 0.699458
LYD 7.371702
MAD 10.785752
MDL 20.230929
MGA 4821.934928
MKD 61.639763
MMK 2428.506437
MNT 4127.516433
MOP 9.317536
MRU 46.404003
MUR 53.7238
MVR 17.865244
MWK 2008.561579
MXN 20.556765
MYR 4.584305
MZN 73.885704
NAD 19.577233
NGN 1602.061835
NIO 42.460666
NOK 11.201245
NPR 174.129602
NZD 1.99154
OMR 0.444574
PAB 1.157007
PEN 4.001516
PGK 4.983245
PHP 69.387276
PKR 322.676366
PLN 4.275582
PYG 7527.982307
QAR 4.213741
RON 5.094947
RSD 117.421631
RUB 93.661073
RWF 1688.25546
SAR 4.338214
SBD 9.299324
SCR 15.841485
SDG 694.960276
SEK 10.814438
SGD 1.481311
SHP 0.867554
SLE 28.387799
SLL 24247.870647
SOS 660.270118
SRD 43.178292
STD 23933.890033
STN 24.745662
SVC 10.124088
SYP 128.293837
SZL 19.516839
THB 37.892986
TJS 11.078991
TMT 4.047188
TND 3.396748
TOP 2.784187
TRY 51.294885
TTD 7.867183
TWD 36.946082
TZS 2971.860396
UAH 50.797502
UGX 4280.984429
USD 1.156339
UYU 46.837397
UZS 14107.339876
VES 534.333269
VND 30469.542036
VUV 138.191887
WST 3.16629
XAF 653.980002
XAG 0.016298
XAU 0.000256
XCD 3.125065
XCG 2.085287
XDR 0.812319
XOF 651.594744
XPF 119.331742
YER 275.960467
ZAR 19.642349
ZMK 10408.441873
ZMW 21.665598
ZWL 372.340801
  • BCE

    -0.3400

    25.49

    -1.33%

  • CMSC

    0.0400

    22.91

    +0.17%

  • NGG

    1.9600

    84.29

    +2.33%

  • RBGPF

    -13.5000

    69

    -19.57%

  • CMSD

    0.0500

    22.68

    +0.22%

  • RIO

    0.7700

    87.54

    +0.88%

  • GSK

    1.7500

    54.7

    +3.2%

  • BCC

    1.0800

    74.65

    +1.45%

  • JRI

    0.2400

    12.1

    +1.98%

  • AZN

    1.3600

    187.14

    +0.73%

  • RYCEF

    0.3000

    15.9

    +1.89%

  • BTI

    0.6900

    58.45

    +1.18%

  • RELX

    0.0100

    32.47

    +0.03%

  • VOD

    0.0600

    14.72

    +0.41%

  • BP

    0.6200

    45.41

    +1.37%

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".

M.Hug--NZN