Dubai Telegraph - Nations call for swift fossil fuel exit to tackle climate change

EUR -
AED 3.855359
AFN 71.377323
ALL 98.9304
AMD 409.516427
ANG 1.892125
AOA 958.34413
ARS 1056.623594
AUD 1.615519
AWG 1.889397
AZN 1.783436
BAM 1.959346
BBD 2.119737
BDT 125.457077
BGN 1.955898
BHD 0.395617
BIF 3039.829534
BMD 1.049665
BND 1.414788
BOB 7.281457
BRL 6.100126
BSD 1.0499
BTN 88.512294
BWP 14.342507
BYN 3.435719
BYR 20573.431932
BZD 2.116271
CAD 1.468019
CDF 3012.538394
CHF 0.930822
CLF 0.037165
CLP 1025.470248
CNY 7.599311
CNH 7.606927
COP 4605.667141
CRC 535.068474
CUC 1.049665
CUP 27.81612
CVE 110.686953
CZK 25.297954
DJF 186.546724
DKK 7.457556
DOP 63.403524
DZD 140.299428
EGP 52.079328
ERN 15.744973
ETB 129.119469
FJD 2.388985
FKP 0.828518
GBP 0.835408
GEL 2.875939
GGP 0.828518
GHS 16.58171
GIP 0.828518
GMD 74.526346
GNF 9059.657727
GTQ 8.106673
GYD 219.655948
HKD 8.169091
HNL 26.482792
HRK 7.487532
HTG 137.799417
HUF 409.458002
IDR 16637.71341
ILS 3.824506
IMP 0.828518
INR 88.457727
IQD 1375.585844
IRR 44164.650178
ISK 145.073956
JEP 0.828518
JMD 166.621585
JOD 0.744525
JPY 161.875648
KES 135.931727
KGS 91.099783
KHR 4252.192128
KMF 495.96684
KPW 944.698007
KRW 1469.588545
KWD 0.323055
KYD 0.874917
KZT 524.238873
LAK 23050.641277
LBP 94049.974422
LKR 305.502961
LRD 188.939707
LSL 19.03039
LTL 3.099387
LVL 0.634932
LYD 5.127613
MAD 10.574845
MDL 19.19247
MGA 4901.935038
MKD 61.604812
MMK 3409.270632
MNT 3566.761255
MOP 8.413649
MRU 41.886862
MUR 49.039901
MVR 16.227576
MWK 1821.168622
MXN 21.256448
MYR 4.673157
MZN 67.084504
NAD 19.030647
NGN 1771.288201
NIO 38.575455
NOK 11.650062
NPR 141.620031
NZD 1.795658
OMR 0.404098
PAB 1.04992
PEN 3.982432
PGK 4.225689
PHP 61.895602
PKR 291.596027
PLN 4.312506
PYG 8179.805456
QAR 3.821305
RON 4.976566
RSD 116.999844
RUB 109.171889
RWF 1438.040905
SAR 3.941569
SBD 8.799923
SCR 14.330794
SDG 631.372893
SEK 11.529645
SGD 1.412723
SHP 0.828518
SLE 23.858676
SLL 22010.952976
SOS 599.826672
SRD 37.256789
STD 21725.944051
SVC 9.186628
SYP 2637.314389
SZL 19.030664
THB 36.384557
TJS 11.191784
TMT 3.673827
TND 3.338456
TOP 2.458422
TRY 36.294159
TTD 7.131043
TWD 34.062702
TZS 2781.612304
UAH 43.569361
UGX 3890.040978
USD 1.049665
UYU 44.750999
UZS 13467.200332
VES 48.873774
VND 26682.481618
VUV 124.618326
WST 2.930235
XAF 657.15898
XAG 0.034777
XAU 0.0004
XCD 2.836771
XDR 0.803054
XOF 655.517644
XPF 119.331742
YER 262.33747
ZAR 18.932858
ZMK 9448.244693
ZMW 28.950504
ZWL 337.991668
  • CMSC

    0.0578

    24.73

    +0.23%

  • RBGPF

    -0.9500

    59.24

    -1.6%

  • BCC

    9.8600

    153.64

    +6.42%

  • RYCEF

    -0.0200

    6.78

    -0.29%

  • RELX

    -0.1300

    46.62

    -0.28%

  • SCS

    0.5710

    13.841

    +4.13%

  • NGG

    0.0830

    63.193

    +0.13%

  • CMSD

    0.1150

    24.575

    +0.47%

  • GSK

    0.1850

    34.145

    +0.54%

  • RIO

    0.7500

    63.1

    +1.19%

  • JRI

    0.1600

    13.37

    +1.2%

  • AZN

    0.8600

    66.49

    +1.29%

  • VOD

    0.2000

    8.93

    +2.24%

  • BTI

    0.0150

    37.395

    +0.04%

  • BCE

    0.1600

    26.93

    +0.59%

  • BP

    -0.3110

    29.409

    -1.06%

Nations call for swift fossil fuel exit to tackle climate change
Nations call for swift fossil fuel exit to tackle climate change / Photo: Valentine CHAPUIS - AFP/File

Nations call for swift fossil fuel exit to tackle climate change

The world needs an "urgent" exit from fossil fuels as part of efforts to slash planet-heating emissions and rein in global warming, a coalition of countries including EU economies and climate-vulnerable nations said Friday.

Text size:

In a statement released at the close of climate talks in Brussels, the High Ambition Coalition said the year-end COP28 talks must pave the way for "an urgent and just transition to renewables, a more climate resilient world, and climate justice for all".

"We must accelerate the global energy transition away from fossil fuels," said the statement, signed by representatives of countries including Germany, France and the Marshall Islands, as well as the European Commission.

It called for greenhouse gas emissions to peak by 2025 at the latest and be cut by 43 percent by 2030, compared to 2019 levels, in line with recent updates from UN climate experts.

"This requires systemic transformations across all sectors, driven by an urgent phase out from fossil fuels, starting with a rapid decline of fossil fuel production and use within this decade," the countries said.

The statement follows a ministerial summit in Belgium where the incoming COP28 president outlined priorities for the crunch Dubai meeting.

With global temperatures hitting record highs last week and countries buffeted by floods, storms and crop-withering heatwaves, the world remains far off track to meet its climate goals.

That has prompted some countries to call for a decision at COP28 to entirely phase out planet-warming fossil fuels from the global energy mix.

- Fossil focus -

Emirati oil boss Sultan Al Jaber, who will head up the COP28 talks, has said he expects fossil fuels to continue to play a role, albeit reduced and with the use of often controversial technologies to "abate", or neutralise, the emissions.

Jaber said on Thursday that a phase down of fossil fuels is both "inevitable" and "essential", but has been reluctant to spell out a time frame.

But "I don't have a magic (wand)" as to when that will happen, he told AFP in Brussels.

Countries have raised concerns about any reliance on carbon capture and storage technologies -- for example those that trap emissions from power plants and store them permanently underground -- which have so far not been used at scale.

"Abatement technologies must not be used to green-light continued fossil fuel expansion, but must be considered in the context of steps to phase out fossil fuel use," the statement said.

It added that these technologies had a "minimal role to play" in the decarbonisation of the energy sector.

Among the concrete targets Jaber proposed as COP28 priorities include a host of 2030 targets, like tripling the world's renewable energy capacity and doubling energy efficiency improvements.

This is in line with what the International Energy Agency says is needed to meet the Paris deal target of limiting global warming to 1.5 degrees Celsius since preindustrial times.

V.Munir--DT