AGL 38.00 No Change ▼ 0.00 (0%)
AIRLINK 213.91 Increased By ▲ 3.53 (1.68%)
BOP 9.42 Decreased By ▼ -0.06 (-0.63%)
CNERGY 6.29 Decreased By ▼ -0.19 (-2.93%)
DCL 8.77 Decreased By ▼ -0.19 (-2.12%)
DFML 42.21 Increased By ▲ 3.84 (10.01%)
DGKC 94.12 Decreased By ▼ -2.80 (-2.89%)
FCCL 35.19 Decreased By ▼ -1.21 (-3.32%)
FFBL 88.94 No Change ▼ 0.00 (0%)
FFL 16.39 Increased By ▲ 1.44 (9.63%)
HUBC 126.90 Decreased By ▼ -3.79 (-2.9%)
HUMNL 13.37 Increased By ▲ 0.08 (0.6%)
KEL 5.31 Decreased By ▼ -0.19 (-3.45%)
KOSM 6.94 Increased By ▲ 0.01 (0.14%)
MLCF 42.98 Decreased By ▼ -1.80 (-4.02%)
NBP 58.85 Decreased By ▼ -0.22 (-0.37%)
OGDC 219.42 Decreased By ▼ -10.71 (-4.65%)
PAEL 39.16 Decreased By ▼ -0.13 (-0.33%)
PIBTL 8.18 Decreased By ▼ -0.13 (-1.56%)
PPL 191.66 Decreased By ▼ -8.69 (-4.34%)
PRL 37.92 Decreased By ▼ -0.96 (-2.47%)
PTC 26.34 Decreased By ▼ -0.54 (-2.01%)
SEARL 104.00 Increased By ▲ 0.37 (0.36%)
TELE 8.39 Decreased By ▼ -0.06 (-0.71%)
TOMCL 34.75 Decreased By ▼ -0.50 (-1.42%)
TPLP 12.88 Decreased By ▼ -0.64 (-4.73%)
TREET 25.34 Increased By ▲ 0.33 (1.32%)
TRG 70.45 Increased By ▲ 6.33 (9.87%)
UNITY 33.39 Decreased By ▼ -1.13 (-3.27%)
WTL 1.72 Decreased By ▼ -0.06 (-3.37%)
BR100 11,881 Decreased By -216 (-1.79%)
BR30 36,807 Decreased By -908.3 (-2.41%)
KSE100 110,423 Decreased By -1991.5 (-1.77%)
KSE30 34,778 Decreased By -730.1 (-2.06%)

BAMBOLIM: The Group of 20 (G20) major economies meeting in India failed on Saturday to reach consensus on phasing down fossil fuels following objections by some producer nations.

Scientists and campaigners are exasperated by international bodies' foot-dragging on action to curb global warming even as extreme weather from China to the United States underlines the climate crisis facing the world.

G20 energy officials had been due to issue a joint communique at the end of their four-day meeting in Bambolin, a town in the Indian coastal state of Goa.

But it was dropped due to disagreements including the intended tripling of renewable energy capacities by 2030.

Russia, Saudi oppose G20 proposal to triple green energy capacity

Sections urging developed countries to deliver on the goal of jointly mobilising $100 billion per year for climate action in developing economies from 2020-2025, and description of the war in Ukraine, also eluded consensus.

Fossil fuel use became a lightning rod in day-long discussions, but officials failed to reach consensus over curbing "unabated" use, two sources familiar with the matter said.

A draft late on Friday reviewed by Reuters read: "The importance of making efforts towards phase down of unabated fossil fuels, in line with different national circumstances, was emphasized."

However, instead of a joint communique, a chair statement was released on Saturday evening, noting that "Others had different views on the matter that abatement and removal technologies will address such concerns."

India's Power Minister R.K. Singh, in a press briefing after the conference ended, said some countries wanted to use carbon capture instead of a phase down of fossil fuels.

He did not name the countries.

However, major fossil fuel producers Saudi Arabia, Russia, China, South Africa and Indonesia were all known to oppose the goal of tripling renewable energy capacity this decade.

Comments

Comments are closed.