The Future Of Oil Is In Danger.. Final Hours To Announce A New Global Agreement On Climate, 11 DEC

 The Future Of Oil Is In Danger.. Final Hours To Announce A New Global Agreement On Climate

Economy  2023-12-11   1,581 views  Alsumaria News - International An  unprecedented dynamic to abandon fossil fuels clearly dominates the 28th session of the United Nations Climate Conference held in Dubai, amid opposition from Saudi Arabia and most OPEC countries, in addition to the ambiguity surrounding the terms of the possible settlement 24 hours before the end of the conference.

It is expected that a new draft of the conference’s final agreement will be revealed on Monday morning, the penultimate day before the conference’s conclusion.

This new text will launch an intense series of negotiations that may be followed by one or more nights during which delegates and observers will have no time to sleep. During 28 years, climate conferences rarely ended on time, according to [url=https://www.alsumaria.tv/Entity/123351/%D8%A3 %D9%81 %D8%A8/ar/]AFP[.

However, the designated president of COP28, the Emirati Sultan Al Jaber, who also serves as president of the giant oil company ADNOC, promised a “historic” agreement on December 12, the anniversary of the announcement of the Paris Agreement.

The agreement concluded in 2015 stipulates limiting global warming to less than two degrees Celsius compared to the temperature that was recorded in the world during the period that preceded the industrial revolution, and if possible to within 1.5 degrees Celsius.

“Everyone has to be flexible,” Al Jaber said on Sunday, adding, “We have to move forward much faster.”

The new text expected on Monday, which will likely include options or formulas in parentheses, will test Al-Jaber’s ability to reach a compromise in the final hours.

So far, delegates and ministers have made little progress despite arduous negotiations and the most secret bilateral meetings in Expo City Dubai, the venue of the conference.  LINK