COP28: Climate leaders meet in Madrid ahead of summit

Spain's Energy Minister Teresa Ribera warned on Monday that talks at this year's UN Climate Change Conference, more commonly referred to as COP28, would be challenging.

Ribera was speaking at a conference that brought together climate and energy ministers from around the world in Madrid, weeks before COP28 in Dubai.

"A global problem requires a global response," Ribera said, calling for more "multilateralism" in the face of "current challenges."

Spain holds the rotating presidency of the EU Council, and is pushing for an international coalition to limit global warming to 1.5 degrees above pre-industrial levels.

The EU Council and the European Parliament come to agreements for the approval of new legislation on the basis of proposals by the European Commission.

The COP28 will be held in Dubai, United Arab Emirates, between November 30 and December 12.

Targets ahead of COP28

International Energy Agency (IEA) chief Fatih Birol said tripling global capital expenditure on renewables, doubling energy efficiency improvements, and an agreement to support clean energy financing in emerging countries would be key to keeping emissions in check.

Global coal, oil and natural gas consumption, however, may still increase to a peak before 2030, he added, before they rapidly decline.

The climate conference last year in Egypt — COP27 — set up a historic fund to help vulnerable countries cope with climate disasters.

But countries failed to agree to a proposal to phase out fossil fuels, which are the biggest source of emissions and warming.

The European Union is now racing to come up with a plan by the middle of this month to outline a clear exit from burning fossil fuels, Reuters news agency reported.

Setting out a timeline "would increase the pressure on countries that are reluctant to agree on a phase-out of fossil fuels," said the document, according to Reuters news agency.

The document cited measures already agreed by the EU and others that would curb oil consumption — including by fixing dates to end new sales of petrol cars.

Host nation on criticisms

At the same time, the CO28 president-designate, Sultan al-Jaber, told the Abu Dhabi International Petroleum Exhibition Conference that more than 20 oil and gas companies were rallying around his calls to curb carbon emissions.

Al-Jaber's appointment as the president-designate of the climate talks was roundly criticized by climate activists around the world due to his position as head of Abu Dhabi National Oil Co.

"We must do this while also ensuring human prosperity by meeting the energy needs of the planet's growing population," Jaber said.

But the president-designate defended his nation hosting the talks over the weekend, telling people at home about his work on renewable energy for the last 20 years.

"A phase-down of fossil fuels is inevitable. In fact, it's essential," he said, adding that this must be part of a comprehensive energy transition plan that is fair, that is fast, just, orderly, equitable and responsible."

rm/ab (Reuters, AFP, AP)