COP28 Media Review
Five days into the climate conference, how are COP28 goals stacking up?
COP28’s UAE President Defends Climate Science Comments
COP28 President-Designate Sultan al-Jaber faced criticism after a leaked video showed him questioning the science on fossil fuels.
Al-Jaber, also the head of UAE national oil company ADNOC, responded by stating that he respects climate science, and the video was a misrepresentation. The video sparked outrage among NGOs, already concerned about an oil company executive leading climate negotiations.
Al-Jaber clarified that he believes in the inevitable phase-down and phase-out of fossil fuels. The COP28 presidency’s published summary referred to a “phase down” rather than “phase-out,” causing confusion. The ongoing talks aim to find common ground on fossil fuel agreements, with different countries supporting varying approaches to achieving the 1.5 degrees Celsius target. Al-Jaber urged giving the process space and emphasized judging based on outcomes at the end of the COP.
Chevron, Exxon Opt Out of Funding COP28 Methane-Cutting Fund
Six major oil companies — BP, Eni, Equinor, Occidental Petroleum, Shell, and TotalEnergies — have each contributed tens of millions of dollars to a Global Flaring and Methane Reduction Partnership run by the World Bank, an initiative announced on the first day of COP28. The initiative aims to help developing countries and their national oil companies reduce methane emissions.
Chevron and Exxon Mobil have just opted out during COP28, citing a focus on funding methane reductions in their own portfolio. The initiative received financial support from countries such as the United Arab Emirates, the US, Germany, and Norway. The funding will be granted to companies committed to reducing methane intensity and eliminating routine flaring of natural gas by 2030. Exxon has not provided the funds yet.
Clinton Calls Out Some Delegations at COP28 For Not Having Enough Women
Former Secretary of State Hillary Clinton addressed the issue of gender representation at the COP28 climate summit, criticizing some delegations for having few women.
Speaking at an Atlantic Council event, Clinton highlighted the importance of empowering women in climate change discussions and expressed concern about the retraction of women’s rights in various countries.
Clinton called for increased involvement of women in decision-making processes and urged organizations to elevate women’s voices in addressing the climate crisis. Women are often disproportionately affected by climate change, and she advocated for collective action.
COP28 Crowds: A Dangerous Distraction or Sign of Success?
The COP28 climate summit in Dubai has drawn criticism for its flashy pavilions, big-name sponsored events, and a record 84,000 registered attendees. Some view this as a positive sign of increased global engagement, while others see it as a dangerous distraction from the core mission of combating climate change.
Critics argue that the event has become a platform for polluters to influence politicians under the guise of addressing climate issues. Pledges and agreements announced during the summit have varied in nature, with some praised for their positive impact and others criticized as mere distractions from the real challenges.
The presence and influence of oil companies, including the COP28 president’s role as the head of a state oil firm, have also raised concerns. Critics suggest the need for greater accountability and mechanisms to ensure that pledges are not forgotten or used as distractions.
Rockefeller Foundation at COP28 Backs Early Coal Retirement Using Carbon Credits
A consortium led by the Rockefeller Foundation has launched the Coal to Clean Credit Initiative (CCCI), a pilot program that aims to use carbon credits to retire a coal power plant in the Philippines, the South Luzon Thermal Energy Corporation (SLTEC), by as early as 2030.
The initiative, announced during the COP28 climate talks in Dubai, involves collaboration with Philippine energy company ACEN and the Monetary Authority of Singapore. CCCI plans to finance the early closure of the coal plant using carbon credits and aims to create incentives for asset owners and communities while mobilizing additional finance. The initiative is considered a “first of its kind” in using carbon credits to retire a coal plant ahead of schedule.
Critics argue for tighter scrutiny of carbon credits to ensure they contribute to emission reductions rather than supporting the continued use of fossil fuels. The announcement of CCCI complements the Energy Transition Accelerator (ETA), designed by the Rockefeller Foundation and other groups, which aims to shift away from coal using high-quality carbon credits and generate over $200 billion in transition finance by 2035.
