Zürcher Nachrichten - 'Not a minute to lose': Clock ticks on fossil fuel deal at climate summit

EUR -
AED 4.101345
AFN 77.032505
ALL 99.346177
AMD 432.43567
ANG 2.013049
AOA 1036.77807
ARS 1075.022084
AUD 1.638665
AWG 2.009927
AZN 1.903727
BAM 1.957678
BBD 2.255263
BDT 133.478024
BGN 1.96194
BHD 0.420821
BIF 3237.947656
BMD 1.116626
BND 1.443284
BOB 7.718265
BRL 6.064287
BSD 1.116971
BTN 93.354568
BWP 14.765294
BYN 3.655406
BYR 21885.869656
BZD 2.251419
CAD 1.514765
CDF 3205.83349
CHF 0.948568
CLF 0.037681
CLP 1039.724056
CNY 7.877914
CNH 7.876551
COP 4648.301891
CRC 579.545486
CUC 1.116626
CUP 29.590589
CVE 110.369377
CZK 25.076404
DJF 198.897208
DKK 7.459169
DOP 67.044305
DZD 147.724424
EGP 54.187291
ERN 16.74939
ETB 129.612896
FJD 2.456911
FKP 0.850377
GBP 0.839089
GEL 3.048765
GGP 0.850377
GHS 17.559528
GIP 0.850377
GMD 76.478493
GNF 9650.126208
GTQ 8.634359
GYD 233.659928
HKD 8.702442
HNL 27.707575
HRK 7.591952
HTG 147.378717
HUF 393.677561
IDR 16934.414972
ILS 4.208201
IMP 0.850377
INR 93.284779
IQD 1463.20342
IRR 47001.617801
ISK 152.296414
JEP 0.850377
JMD 175.488318
JOD 0.791351
JPY 161.091169
KES 144.067258
KGS 94.062898
KHR 4536.351005
KMF 492.822874
KPW 1004.96277
KRW 1492.18639
KWD 0.340616
KYD 0.930801
KZT 535.514042
LAK 24664.21472
LBP 100022.944684
LKR 340.786863
LRD 223.390262
LSL 19.608883
LTL 3.297107
LVL 0.675436
LYD 5.304278
MAD 10.830976
MDL 19.490869
MGA 5051.754868
MKD 61.661441
MMK 3626.7577
MNT 3794.295108
MOP 8.965839
MRU 44.388973
MUR 51.230572
MVR 17.151745
MWK 1936.622809
MXN 21.621786
MYR 4.695396
MZN 71.296513
NAD 19.608708
NGN 1830.652829
NIO 41.108877
NOK 11.731586
NPR 149.370267
NZD 1.791604
OMR 0.429846
PAB 1.116951
PEN 4.186559
PGK 4.37235
PHP 62.154728
PKR 310.35047
PLN 4.275394
PYG 8714.358307
QAR 4.072206
RON 4.974455
RSD 117.081921
RUB 103.595912
RWF 1505.75772
SAR 4.190263
SBD 9.275742
SCR 15.20849
SDG 671.658527
SEK 11.379804
SGD 1.442608
SHP 0.850377
SLE 25.511892
SLL 23415.083225
SOS 638.317954
SRD 33.334619
STD 23111.9038
SVC 9.773243
SYP 2805.55626
SZL 19.61599
THB 36.878746
TJS 11.873175
TMT 3.908191
TND 3.384446
TOP 2.615244
TRY 38.089784
TTD 7.597151
TWD 35.731768
TZS 3046.939603
UAH 46.168836
UGX 4138.117278
USD 1.116626
UYU 46.153648
UZS 14213.632892
VEF 4045036.356711
VES 41.049924
VND 27474.582801
VUV 132.568082
WST 3.12372
XAF 656.574989
XAG 0.035614
XAU 0.000427
XCD 3.017737
XDR 0.827794
XOF 656.577931
XPF 119.331742
YER 279.519396
ZAR 19.564743
ZMK 10050.970555
ZMW 29.570833
ZWL 359.553117
  • CMSD

    0.0300

    25.01

    +0.12%

  • CMSC

    0.0650

    25.12

    +0.26%

  • BCC

    7.6300

    144.69

    +5.27%

  • NGG

    -1.2200

    68.83

    -1.77%

  • BCE

    -0.4200

    35.19

    -1.19%

  • SCS

    -0.8000

    13.31

    -6.01%

  • GSK

    -0.8100

    41.62

    -1.95%

  • RIO

    2.2700

    65.18

    +3.48%

  • BTI

    -0.3100

    37.57

    -0.83%

  • AZN

    0.3200

    78.9

    +0.41%

  • RBGPF

    60.5000

    60.5

    +100%

  • JRI

    -0.0400

    13.4

    -0.3%

  • RYCEF

    -0.0200

    6.93

    -0.29%

  • BP

    0.3300

    32.76

    +1.01%

  • RELX

    0.7600

    48.13

    +1.58%

  • VOD

    -0.1700

    10.06

    -1.69%

'Not a minute to lose': Clock ticks on fossil fuel deal at climate summit
'Not a minute to lose': Clock ticks on fossil fuel deal at climate summit / Photo: Giuseppe CACACE - AFP

'Not a minute to lose': Clock ticks on fossil fuel deal at climate summit

The UN climate chief on Monday urged an end to obstruction a day before the deadline for a deal at a summit in Dubai, with oil producers resisting historic calls for the world to wind down fossil fuels.

Text size:

With barely 24 hours before the official close of COP28 in Dubai, negotiators spent a sleepless night trying to find an agreement that can find consensus among all the nearly 200 countries.

Spurred by pleas by low-lying island nations that fear for their very existence, the conference in the glitzy metropolis built by oil money is considering the first-ever call to exit oil, gas and coal, the main culprit in the planet's climate crisis.

"We do not have a minute to lose," Simon Stiell, the head of the UN climate body, told reporters under the morning sun.

Without naming countries, Stiell called for a clearing of "unnecessary tactical blockades" holding up a deal.

"Any strategic landmines that blow it up for one, blow it up for all," Stiell said.

He urged countries to preserve the "highest ambition" to check warming at no more than 1.5 degrees Celsius above pre-industrial levels -- the increasingly elusive goal blessed by the 2015 Paris accord to avoid the worst ravages of climate change including worsening storms and droughts and rising sea levels.

"One thing is for certain: 'I win, you lose' is a recipe for collective failure. Ultimately, it is eight billion people's security that is at stake."

- Down to two issues -

Stiell said that the summit disagreements had narrowed down to two issues -- fossil fuels and speeding up climate finance by the wealthy nations to worst-hit developing countries.

The summit leadership is expected to release a new draft text on Monday.

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.

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.

- China-US cooperation -

The last draft agreement released on Friday 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.

China and the United States, the largest historic emitter, last month in pre-COP28 talks in California agreed to speed up the deployment of renewable energy to gradually replace 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".

The United States, whose climate envoy John Kerry was celebrating his 80th birthday on Monday during the Dubai negotiations, has surprised some observers by also throwing its weight behind a phase-out.

But the United States also is the world's largest oil producer, and the rival Republican Party includes staunch opponents of curbing fossil fuels.

W.O.Ludwig--NZN