By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > News > Nobel winners hit out at removal of fossil fuels from draft UN pact
News

Nobel winners hit out at removal of fossil fuels from draft UN pact

News Room
Last updated: 2024/08/13 at 4:40 AM
By News Room
Share
4 Min Read
SHARE

Stay informed with free updates

Simply sign up to the Climate change myFT Digest — delivered directly to your inbox.

Nearly 80 Nobel prizewinners and former world leaders have hit out at the removal of a specific mention of fossil fuels from the draft of a UN climate pact at the centre of a summit in New York next month.

The initial draft negotiating text for the UN’s ambitious Summit of the Future included a reference to “accelerating” a “transition away from fossil fuels”.

This matched the agreement already struck between almost 200 countries after negotiations at last November’s UN COP28 conference in Dubai.

But revisions to the text to be put forward in the separate pact in New York have excised any reference to fossil fuels, instead calling for climate action “on the basis of the best available science”. 

Alarm was raised by a group of climate leaders, including former president of Ireland Mary Robinson — who clashed with the COP28 president in the UAE over the need to phase out fossil fuels to limit global warming — as well as former Swedish prime minister Stefan Löfven.

“We are gravely concerned that the draft Pact for the Future does not even mention fossil fuels, one of the greatest threats facing the world today,” said the collection of Nobel prizewinners in a statement.

“We call on the United Nations to ensure that the Pact for the Future includes robust commitments to manage and finance a fast and fair global transition away from coal, oil and gas extraction in line with the 1.5C limit agreed to by nations in the Paris Agreement.”

The burning of fossil fuels is the biggest contributor to the greenhouse gas emissions behind global warming. Scientists say emissions must be cut by 43 per cent by 2030 to keep the rise in the global average temperature to 1.5C. It has already risen at least 1.1C during the industrial era.

The UN’s Summit of the Future will see all the member states meet and agree a text aimed at tackling a range of global issues, including sustainable development, technological co-operation and climate change.

Billed by the UN as a “once-in-a-generation opportunity to enhance co-operation on critical challenges”, the organisation said the goals of the summit and its resulting pact were to “reinvigorate multilateralism”, “restore trust” and “boost implementation of existing commitments”.

It will also be the last formal opportunity for climate discussions ahead of the UN COP29 summit to be held in Baku in November, when another petrostate will host the negotiations.

The failure to refer to fossil fuels in the pact in New York would risk “sending a signal that the world is uncertain about the need to phase out fossil fuels”, said Alex Rafalowicz, director of the Fossil Fuel Non-Proliferation Treaty campaign group.

“It’s extremely concerning that the text doesn’t even contain the language agreed in Dubai last year,” he added, referring to the last November’s COP28 agreement, known as the UAE Consensus. 

As part of the consensus, countries agreed to take actions including “transitioning away from fossil fuels in energy systems, in a just, orderly and equitable manner, accelerating action in this critical decade, so as to achieve net zero by 2050 in keeping with the science”.

It also recognised that targets should be set “in light of different national circumstances”, ack­now­ledging that poorer nations may find cutting emissions more difficult than wealthier countries.

The UN did not respond to request for comment.

Read the full article here

News Room August 13, 2024 August 13, 2024
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Benjamin Netanyahu says Israel plans to take over all of Gaza

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

Putin thinks that time is on his side

Unlock the White House Watch newsletter for freeYour guide to what Trump’s…

Bond vigilantes give retail banks an unlikely leg-up

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

Rise in loans to US non-bank financial groups raises systemic risk fears

Stay informed with free updatesSimply sign up to the US banks myFT…

Stricter US border controls prompt business travel rethink

When Alexander, an Asian research scientist at a top US university, was…

- Advertisement -
Ad imageAd image

You Might Also Like

News

Benjamin Netanyahu says Israel plans to take over all of Gaza

By News Room
News

Putin thinks that time is on his side

By News Room
News

Bond vigilantes give retail banks an unlikely leg-up

By News Room
News

Rise in loans to US non-bank financial groups raises systemic risk fears

By News Room
News

Stricter US border controls prompt business travel rethink

By News Room
News

EU agrees to launch €150bn loans-for-arms scheme

By News Room
News

UK and EU agree post-Brexit reset after ‘breakthrough’ in talks

By News Room
News

US Treasury yields reach 5% over fiscal concerns

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?