Important decisions and remaining questions at COP28 half-way point

Hello and welcome to the AP Climate Watch newsletter. I am Peter Prengaman, global climate and environment news director. I am working with 15 colleagues in Dubai, where the annual climate negotiations, COP28, are taking place. In today’s newsletter, I will be talking about where things stand at the half-way point.

OIL QUESTION LOOMS LARGE

Can the CEO of a major oil company, in a major oil and gas producing country, credibly lead a world summit focused on combatting climate change, which largely comes from the burning of fossil fuels like oil and gas? Since it was announced that the United Arab Emirates would host COP28, and that Sultan al-Jaber would be its president, this has been the central question. At the half-way point of the talks, if anything, that question has only intensified.?

As the sections below explain, some significant things that could help combat climate change have already happened here. But there are also signs that al-Jaber is struggling to establish trust in his presidency.

In an interview with AP colleague Seth Borenstein , former Vice President Al Gore, who won the Nobel Peace Prize for his work on climate change, blasted al-Jaber and his Abu Dhabi National Oil Company, calling it one of “the dirtiest” out there.

Then during a press conference Monday, al-Jaber lashed out at journalists, lamenting negative coverage and complaining that a comment he made, that a phase out of fossil fuels would “take people back into caves,” had been taken out of context.

BIG STEP TOWARD CLIMATE JUSTICE

On the first day of the summit, delegates finalized the creation of a fund to help compensate countries struggling to cope with climate change. Within an hour, more than $400 million had been pledged, a total that has continued building the last week.

The “loss and damage” fund has big challenges, including getting developed countries to consistently donate, and in large amounts; a Green Climate Fund first proposed at the 2009 climate talks, and then began raising money in 2014, has never reached its goal of $100 billion annually.

Still, finalizing the new fund solidifies a growing recognition in policy circles that rich countries, which did the most to cause climate change, are morally obligated to help those who are most impacted. Many climate experts, from environmentalists to policy makers, say that is a step toward climate justice.?

IMPORTANT OIL AND GAS PLEDGE—OR NOT?

On Day 2 of the summit, al-Jaber announced that 50 oil and gas companies had pledged to slash methane gas emissions in their operations by 2030. Methane, a super charging greenhouse gas, can leak, be vented or burned off at various parts of oil and gas operations. In the short-term, it’s more powerful as a planet cooker than carbon dioxide.

So this pledge is good news, right? It depends on who you ask. Even environmentalists and climate scientists are torn on this one.

For some, this announcement is a way for the oil and gas industry to distract people from demanding what they argue must be done—a phase out of fossil fuels. This camp also notes that this pledge is voluntary and there are no repercussions if companies don’t comply. Meanwhile, others argue that if companies do as they say, the methane reduction could help limit global warming. It will likely be a year or two before the impact of this can be judged.

WHAT’S NEXT?

Over the next week, expect lots of deals announced on financing of green energy projects. Speaking of green energy, there are discussions about getting countries to commit to tripling renewable energy investments, so something like that may be part of any final declaration. There will also be discussions on nuclear power, carbon offsets and the role of young activists in bringing about change. Make sure to read next week!

Read more:

• Analysis: Emirati oil CEO leading UN COP28 climate summit lashes out as talks enter toughest stage
• Gore blasts COP28 climate chief and oil companies’ emissions pledges at UN summit
• At UN climate talks, fossil fuel interests have hundreds of employees on hand
• On 1st day, UN climate conference sets up fund for countries hit by disasters like flood and drought
• At COP28 meeting, oil companies pledge to combat methane. Environmentalists call it a “smokescreen”

Here’s what else you need to know

?? The Environmental Protection Agency proposed the strongest overhaul of lead in drinking water rules in more than three decades. Read more. ?

??Limited regulations on extracting groundwater in rural Arizona has attracted foreign companies -- and controversy. Read more .

♀?In Brazil, a tribe on the verge of extinction has women leaders for the first time and is slowly recovering. Read more.

One big number:

1,300

The number of employees of organizations representing fossil fuel interests registered to attend this year’s United Nations climate talks.

Thank you for reading this newsletter. We’ll be back next week. For questions, suggestions or ideas please email [email protected]

This newsletter was written by Peter Prengaman , global news director for climate and environment, and produced by climate engagement manager Natalia Gutiérrez .

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