AIRLINK 205.50 Increased By ▲ 5.21 (2.6%)
BOP 10.25 Decreased By ▼ -0.24 (-2.29%)
CNERGY 7.05 Decreased By ▼ -0.16 (-2.22%)
FCCL 34.60 Decreased By ▼ -0.34 (-0.97%)
FFL 17.10 Decreased By ▼ -0.32 (-1.84%)
FLYNG 25.00 Increased By ▲ 0.15 (0.6%)
HUBC 130.99 Increased By ▲ 3.18 (2.49%)
HUMNL 13.92 Increased By ▲ 0.11 (0.8%)
KEL 4.93 Decreased By ▼ -0.07 (-1.4%)
KOSM 6.80 Decreased By ▼ -0.23 (-3.27%)
MLCF 44.20 Decreased By ▼ -0.42 (-0.94%)
OGDC 221.12 Decreased By ▼ -1.03 (-0.46%)
PACE 7.23 Decreased By ▼ -0.19 (-2.56%)
PAEL 42.75 Decreased By ▼ -0.05 (-0.12%)
PIAHCLA 17.07 Decreased By ▼ -0.32 (-1.84%)
PIBTL 8.46 Decreased By ▼ -0.05 (-0.59%)
POWER 9.11 Decreased By ▼ -0.04 (-0.44%)
PPL 190.35 Decreased By ▼ -2.38 (-1.23%)
PRL 43.10 Increased By ▲ 1.60 (3.86%)
PTC 24.77 Increased By ▲ 0.33 (1.35%)
SEARL 102.55 Increased By ▲ 1.28 (1.26%)
SILK 1.02 Decreased By ▼ -0.03 (-2.86%)
SSGC 42.70 Decreased By ▼ -1.17 (-2.67%)
SYM 18.47 Decreased By ▼ -0.29 (-1.55%)
TELE 9.23 Decreased By ▼ -0.31 (-3.25%)
TPLP 13.08 No Change ▼ 0.00 (0%)
TRG 68.70 Increased By ▲ 2.51 (3.79%)
WAVESAPP 10.40 Decreased By ▼ -0.13 (-1.23%)
WTL 1.80 Increased By ▲ 0.02 (1.12%)
YOUW 4.00 Decreased By ▼ -0.04 (-0.99%)
BR100 12,034 Decreased By -5.6 (-0.05%)
BR30 36,777 Increased By 88.7 (0.24%)
KSE100 114,496 Decreased By -308.5 (-0.27%)
KSE30 36,003 Decreased By -99.2 (-0.27%)

DUBAI: UN climate chief Simon Stiell on Wednesday accused nations of “posturing” at the COP28 talks in Dubai, raising the temperature on negotiators sparring over the thorny issue of fossil fuels.

Pressure is mounting near the end of the first week of the UN negotiations hosted by the oil-rich UAE, with Europe’s climate monitor confirming that 2023 will be the hottest year in recorded history.

The European Union called for COP28 to “mark the beginning of the end” of planet-warming fossil fuels.

The latest draft of a global climate agreement is “probably” expected on Wednesday before it is finalised — in theory — on December 12, according to two people familiar with the negotiations, but a definitive timeline remains unclear.

The fate of oil, gas and coal — the main drivers of human-caused planet heating — has been the biggest sticking point on the agenda, and divisions around their future have dominated the conference.

“We have a starting text on the table, but it’s a grab bag of ... wish lists and heavy on posturing,” Stiell said.

“At the end of next week, we need COP to deliver a bullet train to speed up climate action. We currently have an old caboose chugging over rickety tracks,” he told reporters.

Battle lines have previously been drawn on whether to agree to “phase out” or “phase down” fossil fuels.

However the latest text includes a new phrase calling for an “orderly and just” phase-out.

The language could signal a consensus candidate as it would give countries different timelines to cut emissions depending on their level of development and reliance on fossil fuels.

But there is another option: no mention at all of fossil fuels, which reflects opposition from nations including Saudi Arabia, Russia and China, according to several observers who attended the closed meetings.

India on Tuesday evening opposed naming specific sectors or energy sources, one observer said.

One person familiar with the talks said the word “orderly” came from COP28 president Sultan Al Jaber, who also heads UAE national oil company ADNOC.

Another observer said China agrees with the language. Europe has called for a harder line.

Comments

Comments are closed.