Cop29: oil-producing countries are blocking talks on limiting the use of fossil fuels
Several major oil-producing countries, including Saudi Arabia and Russia, are hindering talks on a deal at the upcoming COP29 climate summit to mitigate the use of fossil fuels, negotiators from Western countries have told the Financial Times .
The group of oil-rich nations, which includes Saudi Arabia, Russia and Bolivia, is hampering efforts for talks on phasing out fossil fuels. COP29 will be held in November in Azerbaijan, which depends heavily on oil and gas sales for its economic growth. A significant choice about what the results will be.
The previous climate summit, COP28, which lasted for an extra day amid heated debates on the future of the use and production of fossil fuels, ended with a compromise text referring for the first time to an all-party call to transition away from fossil fuels.
The United Arab Emirates, which hosts the summit and is also a major OPEC producer and exporter, hailed the “UAE consensus” as a historic agreement to reduce emissions.
The final text adopted by the countries refers, for the first time in similar summit declarations, to an explicit call to transition away from fossil fuels.
But the final agreement was watered down from any reference to phasing out or phasing out fossil fuels, as objections from many oil-exporting countries – led by Saudi Arabia – held up talks in recent days and postponed the conference in extra time.
The Conference of the Parties “Further recognizes the need for deep, rapid and sustained reductions in greenhouse gas emissions in line with a 1.5 °C pathway and invites the Parties to contribute to the following global efforts, in a nationally determined manner national, taking into account the Paris Agreement and their different national situations, paths and approaches", reads the text adopted last year.
Saudi Arabia and its state oil giant Aramco have repeatedly said the energy sector and discussions should focus on how to reduce emissions and not on reducing oil and gas production.
At this point these conferences are increasingly becoming just a social occasion, a sort of big party organized by oil-producing countries. A situation that would be ridiculous if it were not paid for by the citizens of the UN countries.
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The article Cop29: oil-producing countries are blocking talks on limiting the use of fossil fuels comes from Economic Scenarios .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/cop29-i-paesi-produttori-di-petrolio-stanno-bloccano-i-colloqui-per-la-limitazione-nelluso-dei-combustibili-fossili/ on Fri, 13 Sep 2024 15:36:12 +0000.