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November 30, 2023

The future of fossile fuels becomes the focal point of global climate talks

Representatives from nearly 200 nations will meet in Dubai this week for the COP28 climate summit. The United Arab Emirates (UAE), an OPEC member and the host country, aims to advocate for a low-carbon future that incorporates rather than rejects fossil fuels. This perspective, supported by other major oil-producing nations, will highlight global divisions on addressing climate change.

Divergent opinions exist on whether to prioritize phasing out coal, oil, and gas or emphasize technologies like carbon capture to reduce their environmental impact. The annual United Nations summit, scheduled from November 30 to December 12, occurs as the world approaches a record-breaking year for high temperatures in 2023. Reports indicate that countries' climate commitments fall short of averting severe global warming consequences.

During the Dubai summit, nations will decide whether to agree for the first time to gradually "phase out" global fossil fuel consumption and transition to alternative sources such as solar and wind. The International Energy Agency (IEA), a Western energy watchdog, has labeled widespread carbon capture to control emissions from fossil fuels as an illusion. The IEA insists that the fossil fuel industry must choose between exacerbating the climate crisis or transitioning to clean energy.

OPEC countered the IEA's stance, accusing it of vilifying oil producers. Debates on the continued use of fossil fuels have centered on COP's incoming president, Sultan al-Jaber. As the CEO of the UAE's national oil company ADNOC, concerns have been raised about his ability to impartially broker a climate deal. Al-Jaber acknowledges the inevitability of phasing down fossil fuels but argues for the industry's inclusion in climate discussions, presenting himself as an ideal mediator.

Despite al-Jaber's assurances, climate campaigners remain skeptical, emphasizing the need for a genuine commitment to reducing fossil fuels. Al-Jaber claims to have garnered support from companies for COP28 pledges aimed at reducing emissions from oil and gas operations.

Dubai's gathering of 70,000 registered attendees, including the largest business participation in any U.N. climate summit to date, is expected to have a trade show-like character. Notable figures like Indian Prime Minister Narendra Modi and Britain's King Charles will attend, although U.S. President Joe Biden will not be present.


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