ZeroHedge News (RSS Feed) on Nostr: Saudi Arabia "Leading A Push Back" On Commitments To Leave Fossil Fuels At COP29 ...
Saudi Arabia "Leading A Push Back" On Commitments To Leave Fossil Fuels At COP29
Saudi Arabia "Leading A Push Back" On Commitments To Leave Fossil Fuels At COP29
Saudi Arabia is reportedly "leading a push back" on restating climate commitments to transition away from fossil fuels put into place last year, https://finance.yahoo.com/news/saudis-resist-restating-fossil-fuel-053005474.html
.
The https://finance.yahoo.com/news/saudis-resist-restating-fossil-fuel-053005474.html
says that both European and U.S. negotiators aim to reinforce last year's commitments to boost energy efficiency and renewable energy, viewing them as crucial to maintaining progress in the global climate fight.
But Saudi Arabia is reportedly using "a mix of delaying tactics and outright blocking maneuvers" to resist these efforts, the report says.
Last year, COP28 marked the first inclusion of a fossil fuel phase-out in its final agreement, with the UAE securing support from Saudi Arabia and other oil producers. Developed and climate-vulnerable nations see any weakening of that language as a significant setback.
This year’s COP29 negotiations are focused on scaling up climate finance to over $1 trillion annually, pressuring nations like Saudi Arabia to contribute more, while also solidifying commitments made last year to phase down fossil fuels and accelerate renewable energy.
Disagreements persist over whether countries should act on all the commitments or select priorities, with Saudi Arabia advocating the latter approach. As talks enter a critical phase, ministers must resolve key disputes, reduce dense negotiation texts, and finalize trade-offs behind closed doors.
And there were signs this might be the case...recall, https://www.zerohedge.com/markets/climate-summits-no-longer-fit-purpose-experts-say
that climate summits were "no longer fit for purpose".
Leading climate experts, including Ban Ki-moon, Mary Robinson, Christiana Figueres, and Johan Rockström, are calling for significant changes to UN climate summits, https://www.theguardian.com/environment/2024/nov/15/cop-summits-no-longer-fit-for-purpose-say-leading-climate-policy-experts
.
They argue future conferences should only be hosted by nations demonstrating strong climate action and advocate for stricter controls on fossil fuel lobbyists. Over 1,700 industry lobbyists attended Cop29, raising concerns about undue influence.
The group has urged the UN to streamline the annual summits, amplify the voices of developing countries, and increase meeting frequency to better address the climate crisis.
“It is now clear that the Cop is no longer fit for purpose. We need a shift from negotiation to implementation,” they wrote.
https://cms.zerohedge.com/users/tyler-durden
Mon, 11/18/2024 - 20:30
https://www.zerohedge.com/markets/saudi-arabia-leading-push-back-commitments-leave-fossil-fuels-cop29
Saudi Arabia "Leading A Push Back" On Commitments To Leave Fossil Fuels At COP29
Saudi Arabia is reportedly "leading a push back" on restating climate commitments to transition away from fossil fuels put into place last year, https://finance.yahoo.com/news/saudis-resist-restating-fossil-fuel-053005474.html
.
The https://finance.yahoo.com/news/saudis-resist-restating-fossil-fuel-053005474.html
says that both European and U.S. negotiators aim to reinforce last year's commitments to boost energy efficiency and renewable energy, viewing them as crucial to maintaining progress in the global climate fight.
But Saudi Arabia is reportedly using "a mix of delaying tactics and outright blocking maneuvers" to resist these efforts, the report says.
Last year, COP28 marked the first inclusion of a fossil fuel phase-out in its final agreement, with the UAE securing support from Saudi Arabia and other oil producers. Developed and climate-vulnerable nations see any weakening of that language as a significant setback.
This year’s COP29 negotiations are focused on scaling up climate finance to over $1 trillion annually, pressuring nations like Saudi Arabia to contribute more, while also solidifying commitments made last year to phase down fossil fuels and accelerate renewable energy.
Disagreements persist over whether countries should act on all the commitments or select priorities, with Saudi Arabia advocating the latter approach. As talks enter a critical phase, ministers must resolve key disputes, reduce dense negotiation texts, and finalize trade-offs behind closed doors.
And there were signs this might be the case...recall, https://www.zerohedge.com/markets/climate-summits-no-longer-fit-purpose-experts-say
that climate summits were "no longer fit for purpose".
Leading climate experts, including Ban Ki-moon, Mary Robinson, Christiana Figueres, and Johan Rockström, are calling for significant changes to UN climate summits, https://www.theguardian.com/environment/2024/nov/15/cop-summits-no-longer-fit-for-purpose-say-leading-climate-policy-experts
.
They argue future conferences should only be hosted by nations demonstrating strong climate action and advocate for stricter controls on fossil fuel lobbyists. Over 1,700 industry lobbyists attended Cop29, raising concerns about undue influence.
The group has urged the UN to streamline the annual summits, amplify the voices of developing countries, and increase meeting frequency to better address the climate crisis.
“It is now clear that the Cop is no longer fit for purpose. We need a shift from negotiation to implementation,” they wrote.
https://cms.zerohedge.com/users/tyler-durden
Mon, 11/18/2024 - 20:30
https://www.zerohedge.com/markets/saudi-arabia-leading-push-back-commitments-leave-fossil-fuels-cop29