OPEC Opposes COP28's Consideration of Ending The Use of Fossil Fuels

DUBAI, Dec 8: At the COP28 climate summit, OPEC is urging its members and oil-producing allies to reject a proposed deal that aims to phase out the use of fossil fuels. Approximately 80 countries are advocating for a COP28 agreement that calls for the eventual elimination of fossil fuels, aligning with scientists' recommendations to combat climate change. The latest draft of the agreement includes options for achieving this goal.

OPEC Secretary General Haitham Al Ghais sent a letter to OPEC members and COP28 host UAE, requesting that they reject any language targeting fossil fuels in the final summit deal, expressing concerns about the consequences of undue pressure against fossil fuels. OPEC emphasized the need for major investments in all energy sources and technologies, without favoring any specific energy source.

COP28 President Sultan al-Jaber urged delegates to reach a consensus before the summit's scheduled end. While fossil fuels are the primary source of greenhouse gas emissions, previous UN climate summits have not directly addressed their future. The decision to phase out fossil fuels would be unprecedented. The draft agreement presented at COP28 offers various options, including phasing out fossil fuels in line with scientific recommendations or not addressing them at all. Some countries, such as Saudi Arabia, believe they can continue producing fossil fuels while reducing emissions through carbon capture technologies.

Canadian environment minister Steven Guilbeault expressed confidence that the final text would include agreement on fossil fuels, albeit potentially less ambitious than desired. Other countries argue that wealthier nations, having exploited their resources for decades, should lead the phase-out of fossil fuels. Developing countries within the G77+China bloc called for rewriting the "phase-down/phase-out" language, suggesting that countries with fewer resources should be granted more time for transitioning to clean energy. A compromise should also involve increased financial and technological support for developing and poorer nations to facilitate the necessary infrastructure.

The chief of the UN climate agency emphasized the scientific imperative of limiting global warming to within 1.5 degrees Celsius of pre-industrial levels. Breaching this threshold would result in areas becoming uninhabitable for 2 billion people. Additionally, discussions are ongoing regarding the location of next year's COP29 summit, with Azerbaijan being the likely winner in the bid to host the event, while Bulgaria and Moldova have also offered to take on the rotating presidency.

Source: reuters.com