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Dear readers,
Welcome to the Climate Weekly newsletter by the Centre for Science and Environment’s Climate Change programme and Down to Earth.
It is reported that the Organization of the Petroleum Exporting Countries (OPEC) will set up a Pavilion to showcase its work and vision at the annual climate summit - COP 28 - in Dubai later this year.
This is a theme that leads us to growing concern over the industry's influence seeping into high-stakes climate negotiations. For example, COP28 is also poised to be led by oil baron and Head of Abu Dhabi’s national oil company, Sultan Al Jaber. This choice of leadership has already stirred controversy over a potential conflict of interest.
OPEC has locked horns with other groups over the future of its industry in recent years. As oil demand reached an all-time high of 103 million barrels per day in June of this year, OPEC forecasted further growth over the next two decades in its 2023 World Oil Outlook Report. It seems that the global economy's appetite for oil is far from waning. However, the International Energy Agency (IEA) claimed last month that fossil fuel demand, including oil and gas, would have already peaked by 2030, marking the beginning of the end of the fossil fuel era. OPEC criticized this perspective and called it 'an extremely risky and impractical narrative’. I wrote this week about what the fossil fuel industry's posturing means for the sacred negotiation process at COP summits.
The oil and gas industry has many supporters. While the European Union is generally ambitious about climate goals, it is divided on phasing out fossil fuels, as Parth Kumar and Manas Agrawal of CSE’s Industrial Pollution programme point out. Only 10 EU countries advocate for a total phase-out, while others support continuing fossil fuels in certain sectors with emission capture technology.
This week, CSE Director-General Sunita Narain highlights the need for the voluntary carbon market to change for the good of the people and the planet. This is elaborated in our new report Discredited, which focuses on the dark underbelly of the voluntary carbon market in India.
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By - Trishant Dev
Climate Change, CSE
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| EXTREME WEATHER TRACKER |
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More than 200 scientists from 19 countries want to tell us the Southern Ocean is in trouble, 18 October 2023
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Amazon forests threatened: 10% more wildfires than last year, environmental gains may be undone, 17 October 2023
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CLIMATE NEWS | SCIENCE| IMPACTS| POLITICS |
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| Video |
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CSE-Down To Earth investigation |
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