Page 7 - Cop28 Summit News Today

DUBAI: Nearly 200 nations meeting in Dubai on Wednesday approved a first-ever call for the world to transition away...

After 13 days of talks and several sleepless nights in a country built on oil wealth, the Emirati president of the COP28 summit quickly banged a gavel to signal consensus among 194 countries and...

The countries agreed to contribute towards tripling global renewable energy capacity and doubling the current annual rate of energy efficiency improvements by 2030.

Saudi Arabia leads fight to keep it out, gets support from India and China

After nearly two weeks of intense negotiations, countries are close to achieving a historic deal on a "transition away from fossil fuels," with emerging economies like India and China resisting the focus on coal. This marks a shift from the earlier proposal of a "phase-out of fossil fuels," which faced criticism from many Global South countries and oil-dependent economies like Saudi Arabia.

"You did step up, you showed flexibility, you put common interest ahead of self-interest," said COP28 president Sultan Al Jaber, whose role as head of the United Arab Emirates national oil company had raised suspicion among many environmentalists.

Nearly 200 nations sidestepped a debate over whether to 'phase out' fossil fuels by agreeing instead to transition away from them.

The countries agreed to contribute towards tripling global renewable energy capacity and doubling the current annual rate of energy efficiency improvements by 2030.

ALBAWABA – Oil prices hovered near a six-month low on Wednesday as the US dollar gained ahead of the US Fed announcement on US interest rates

According to the Emissions Gap Report, published by the UN Environment Programme last month, global emissions in 2022 were at least a billion tonnes higher than in 2019.