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COP28 enters final stretch as UAE pushes fossil fuel deal

Bloomberg
Bloomberg • 4 min read
COP28 enters final stretch as UAE pushes fossil fuel deal
Sultan Al-Jaber, COP28 President and Minister of Industry and Advanced Technology in the United Arab Emirates. Photo: Bloomberg
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The COP28 climate summit in Dubai entered its final two days as Sultan Al-Jaber, the Emirati oil executive who is presiding over this year’s talks, sought to produce a text that would include a commitment to reduce the world’s consumption of oil and gas for the first time. 

Early on Dec 11, negotiators were awaiting a draft of the agreement that would try to bridge the gap between countries that want a complete phase out of fossil fuels and those opposing it, led by Saudi Arabia and other oil-exporting countries. Outstanding issues include a plan to scale up climate finance for the developing world and a framework for helping poorer nations adapt to a warmer planet.

The fossil fuel issue has dominated the fortnight of talks hosted in the United Arab Emirates, after countries failed to reach an agreement at last year’s COP27 talks in Egypt. Al-Jaber told reporters on Dec 10 that the “time has come for us to shift gears” to deliver a timely and ambitious outcome for the summit, due to end Dec 12. 

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