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COP draft deal offers fossil fuel cuts, but fall short for many

Bloomberg
Bloomberg • 4 min read
COP draft deal offers fossil fuel cuts, but fall short for many
COP28 President Sultan Al-Jaber has been accused of conflict of interest as he is also head of the state-owned Abu Dhabi National Oil Co. Photo: Bloomberg
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A draft deal at the COP28 climate in Dubai called on countries to cut their consumption and production of fossil fuels as the hosts tried to craft a compromise less than 24 hours before the summit is due to end.

The 21-page agreement would, if adopted, be the first specifically calling for reduced use of all fossil fuels, including oil and gas, marking a historic shift in the UN treaty that governs the global fight against against change. But for many countries it doesn’t go nearly far enough, falling short of a complete phase out and offering nations loopholes and opt-outs.

Sultan Al Jaber, the oil executive appointed by the United Arab Emirates to run COP28, delayed the publication of the draft text by almost ten hours on Monday while he sought compromise. A broad coalition supports phase out language, but that’s adamantly opposed by Saudi Arabia and other OPEC+ nations. The text also called for reduction of fossil fuel use to be “just” and “orderly” — adjectives designed to appease more cautious countries.

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