🌍 Methane reduction deal reached at COP28, but fossil fuel conflict persists

Major fossil fuel countries and companies have agreed to significantly reduce methane leaks at the 2023 UN Climate Change Conference (COP28) in Dubai. The deal, which could prevent up to 0.5°C of future climate heating, is seen as a significant step. However, the ongoing use of fossil fuels remains a contentious issue. Sultan Al Jaber, the president of COP28 and head of the state-owned Abu Dhabi National Oil Company (ADNOC), rejected the notion that ending fossil fuel use is necessary to limit global heating to 1.5°C. This stance contradicts the views expressed by UN Secretary-General António Guterres at the conference. 🌡️

Barbados Prime Minister Mia Mottley, a leading climate advocate, has called for countries to move beyond voluntary pledges and implement taxes to increase climate funding. She suggested a global 0.1% tax on financial services could raise $420 billion, while a 5% tax on global oil and gas profits in 2022 would have generated around $200 billion. Mottley also urged governments to address methane emissions, emphasizing the need for strong regulation and compliance. Despite the methane deal, which saw around 50 oil and gas companies pledge to reduce leaky methane systems to "near zero" by 2030, concerns remain as oil, coal, and gas deals were conducted on the conference's sidelines, and several countries have backtracked on previous emissions reduction commitments. 🏭

Further controversy was stirred by Al Jaber's near climate change denial, which contrasts starkly with the UN Secretary-General's address. The UAE, where Al Jaber's ADNOC is based, is suffering from "alarmingly high" air pollution levels due to its fossil fuel industry, according to Human Rights Watch. The Israel-Gaza war and the absence of several heads of state also overshadowed the conference, leading to questions about its ultimate impact. 🌫️