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By Sharon Kimathi, Energy and ESG Editor, Reuters Digital
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Hello!
Delegates at the United Nations climate summit are nearing completion of an agreement as COP28 comes to a close this week.
The U.N. climate agency published a new draft of its COP28 agreement which included a range of options for the future of fossil fuel use, the most contentious issue at the summit.
The new options included in the text, which is still under negotiation, were for the final deal to call upon countries to “take further action in this critical decade towards: a phase out of fossil fuels in line with best available science and provisions of the Paris Agreement”.
It calls countries to take action towards “a phase-out of unabated fossil fuels recognizing the need for a peak in their consumption in this decade and underlining the importance for the energy sector to be predominantly free of fossil fuels well ahead of 2050″.
A coalition of more than 80 countries including the United States, the European Union and small island nations are pushing for an agreement that includes language to “phase out” fossil fuels, a feat not achieved in 30 years of the U.N. summits. But they are coming up against some strong opposition. Keep scrolling below for more Reuters features on the issue.
Here is a rundown of what to watch at COP28 on Monday.
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Human rights advocates protest in solidarity with political prisoners in Egypt and United Arab Emirates on the sidelines of COP28 in Dubai, United Arab Emirates. REUTERS/Stringer
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- A small group of demonstrators staged a very rare protest in Dubai at the COP28 U.N. climate summit site to demand the release of pro-democracy activists imprisoned in the United Arab Emirates and Egypt.
- With the COP28 climate talks entering crunch time, U.N. climate chief Simon Stiell urged countries to come together to reach a final deal for the summit – where they were facing off over whether to call for an end to fossil fuels.
- U.N. Secretary-General Antonio Guterres said one key to success of the COP28 climate summit was for nations to reach agreement on the need to “phase out” fossil fuels, albeit with countries possibly moving at different rates.
- OPEC Secretary General Haitham Al Ghais urged OPEC members to reject proposals for any deal under negotiation at the COP28 climate summit which targeted fossil fuels rather than emissions, a letter dated Dec. 6 and seen by Reuters showed.
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Palestinian Haneen Jarr reacts during the United Nations Climate Change Conference (COP28) in Dubai, United Arab Emirates. REUTERS/Amr Alfiky
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- The United Nations appealed for $46 billion in funding for 2024 to help millions of people affected by humanitarian crises around the world, including in the occupied Palestinian territories, Sudan and Ukraine.
- Animal welfare: Dozens of elephants have died of thirst in Zimbabwe’s popular Hwange National Park, and conservationists fear losing more as a drought caused by climate change and the El Nino global weather pattern dries up watering holes.
- AI: Britain’s antitrust regulator said it will review whether to launch a merger probe of Microsoft’s multi-billion dollar partnership with ChatGPT maker OpenAI, weighing in on the U.S. software giant’s tie-ups for a second time this year.
- Workers’ rights: U.S. automaker Tesla should respect fundamental labor rights, including collective bargaining, Norway’s $1.5 trillion sovereign wealth fund, the world’s biggest stock market investor, told Reuters.
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Antoine de Saint-Affrique, CEO of multinational food company Danone, shares his thoughts on COP28’s ‘Food, Agriculture, and Water’ day on Sunday:
“The phase out of fossil fuels must be the priority for COP28. But food being on the top table for the first time is an important step forward, for the climate, for transforming food systems and for improving food and social stability and livelihoods of people all around the world.
“One third of greenhouse emissions and 40% of methane emissions caused by humans come from the agriculture sector globally.
“Solutions, like regenerative agriculture, to reduce those numbers already exist but they must be scaled as fast as we can. That cannot happen without greater financing. In 2022, food systems only received 4.3% of climate finance despite generating 1/3 of emissions.
“Public-private partnerships must work harder to unlock the financing farmers need to spearhead the transition. As part of the Global Methane Hub, $200m of funding has already been raised for new technologies for less carbon intensive farming methods. It can be done.
“This Declaration is a signal to all actors to scale financing, collaboration and policies so our food systems are more secure, equitable and better for the planet.”
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Workers collect green waste of feedstock on the agricultural fields of International Center for Biosline Agriculture in Dubai, UAE. REUTERS/Rula Rouhana
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Today’s ESG spotlight shines a light on sustainable farming practices as part of COP28’s focus on ‘Food, Agriculture and Water’.
Funding for a joint effort by the United States and United Arab Emirates to advance climate-friendly farming around the world has grown to more than $17 billion, the countries announced on Friday at the COP28 climate summit in Dubai.
The Agriculture Innovation Mission for Climate (AIM for Climate) was launched in 2021 at COP26 in Glasgow and its funding comes from governments, companies, and non-governmental organizations.
Globally, food and farming contribute about a third of anthropogenic greenhouse gas emissions, according to the U.N.’s Food and Agriculture Organization.
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