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OPEC Letters Pressure COP28 Petrostates; Oppose Potential Phase-Out of Fossil Fuels [1]

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Date: 2023-12-08  

Leaked letters from an alarmed OPEC reveal the pressure being exerted on member states against the possibility of COP28 agreeing to a phase-out of fossil fuels. According to The Guardian, 13 Opec members, including Saudi Arabia, Iran, Iraq, and Nigeria, received the letters. The 13 member countries control 80% of global oil reserves, producing around 40% of global oil supply over the last ten years. The United Arab Emirates, another OPEC member, also received a letter.

The letters were reported on today by Bloomberg and Reuters, who said multiple sources had confirmed their authenticity.

“These letters show that fossil fuel interests are starting to realise that the writing is on the wall for dirty energy,” said Mohamed Adow, of the NGO and thinktank Power Shift Africa. “Climate change is killing poor people around the globe and these petrostates don’t want Cop28 to phase out fossil fuels because it will hurt their short-term profits. It’s shameful. “The reality is, if the world is going to save itself, it cannot be held back by a small band of countries that control the world’s oil supply. As well as saving us from climate change, a renewable powered world is also one where energy is dispersed and democratised. Fossil fuels keep power in the hands of the few that happen to have them.”

The Guardian reports that ten Opec+ countries, which include Mexico and Russia, also received the letter, which said “While Opec [and Opec+] countries are taking climate change seriously and have a proven record on climate actions, it would be unacceptable that politically motivated campaigns put our people’s prosperity and future at risk.”

Petrostates are supportive of carbon capture and storage (CCS) technologies, which enable them to continue the use of fossil fuels because they could trap and store the CO2. This technology, however, falls woefully short of curtailing oil and gas emissions.

COP28 President Sultan Al Jaber, whose leadership was questioned at the onset of the talks by comments questioning the role of fossil fuels in climate change, kicked off the second week of COP28 in Dubai today, claiming the COP has “already made history.”

x No stone unturned: COP28 President Dr Sultan Al Jaber has engaged with all Parties - relevant stakeholders, NGOs, civil society, observers, businesses and industry - to push for the highest possible ambition to ever come out of a COP. #COP28 #UniteActDeliver pic.twitter.com/wmhAhh1QSi — COP28 UAE (@COP28_UAE) December 8, 2023

“There is a unique sense of momentum, a sense of inclusivity and a sense of willingness and flexibility,” he said. “I also feel a sense that something unprecedented is possible to happen here at Cop28. We achieved consensus on the first day with the loss and damage, and I believe with the momentum we have, with the action-oriented mindset that has been instilled across the board here on the site, I believe we can achieve consensus again on the rest of the agenda.”

Delegates have a significant amount of work remaining to finalize the details of the global stocktake (GST) and the success of the COP hinges on two issues: the global stocktake (GST) calling for the phase-out of fossil fuels with usage peaking at the end of this decade and significant movement and transparency on climate finance.

In the current draft document, climate finance language has not significantly changed and the need for scaling up finance is no longer included.

As the focus remains on mitigation, the 2015 Global Goal on Adaptation is taking a backseat at the negotiations.

“The problem is the fact that adaptation is actually the second long long-term goal of the Paris agreement,” said South Africa-based Amy Giliam Thorp of climate think-tank Power Shift Africa. According to the United Nations, some $400 billion is needed annually to assist developing countries most impacted by climate change. The UN report called for an additional $194 to $366 billion every year.

“Rich countries see mitigation action in their own interest. Wherever it happens in the world, it’s going to benefit everyone, even in the global north. Adaptation efforts and finance will only benefit people in the global south,” said Teresa Anderson, global lead of climate justice at Action Aid International.

“The only reason they (rich countries) apparently want to give climate finance is if it’s going to help themselves.”

Barrons provides a comprehensive report on the pledges made in the first week of the summit. Some of the highlights include:

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