Critics pan draft text at UN climate talks as watered down as COP28 nears its finale in Dubai
DUBAI, United Arab Emirates (AP) — Countries moved closer to reaching what critics called a watered-down final deal Monday, avoiding calls from more than 100 nations to phase out planet-warming fossil fuels as United Nations climate talks in Dubai neared their culmination.
A new draft released Monday afternoon on what’s known as the global stocktake — the part of talks that assesses where the world is with its climate goals and how it can reach them — called for countries to reduce “consumption and production of fossil fuels, in a just, orderly and equitable manner.”
The release triggered a frenzy of fine-tuning by government envoys and gimlet-eye analysis by advocacy groups, just hours before the planned late morning finish to the talks on Tuesday — even though many observers expect the finale to run over time, as is common at the annual U.N. talks.
The draft noted that some $4.3 trillion needs to be invested annually through 2030 in order to reach ambitions of net-zero emissions of heat-trapping gases in the atmosphere by mid-century. It said financing needs for adaptation were but a fraction of current outlays.