By Sharon Kimathi, Energy and ESG Editor, Reuters Digital |
Hello! Countries remain divided over fossil fuels in the run-up to the 28th United Nations Climate Change Conference or Conference of the Parties (COP28) summit next month. Spain's Energy Minister Teresa Ribera warned that talks at COP28 will be "challenging" as she opened a gathering of energy ministers and climate leaders from around the world in Madrid. The COP28 summit is scheduled to take place in Dubai between Nov. 30 and Dec. 12. Spain, which holds the rotating presidency of the European Union Council, is pushing for an international coalition to back the 2015 Paris deal's target to limit global warming to 1.5 degrees Celsius above pre-industrial levels. At the COP28 conference, countries will assess how efforts to tackle climate change are falling short of the Paris agreement goal and discuss plans to get on track. |
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Nations remain divided over fossil fuels ahead of the COP28 summit scheduled to take place in Dubai between Nov. 30 and Dec. 12. in Abu Dhabi, United Arab Emirates. REUTERS/Amr Alfiky |
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There are five conditions for the upcoming summit to be considered successful, the International Energy Agency Chief Fatih Birol said. These include tripling global capital expenditure on renewables, a doubling of energy efficiency improvements and an agreement on mechanisms to support clean energy financing in emerging countries. More than 20 oil and gas companies have positively answered calls to align around net zero by 2050, to eliminate methane emissions and stop routine flaring by 2030, COP28 president Sultan al-Jaber said at the conference. He did not elaborate. |
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Making a decarbonization commitment |
Speaking of fossil fuel firms, major oil and gas company chiefs held discussions with heavy industry bosses in the United Arab Emirates (UAE) to agree on a firm commitment to reduce carbon emissions ahead of COP28. "What we have done today is something quite unprecedented in the COP process, to bring together both the demand and supply side in terms of emissions," Adnan Amin, COP28 chief executive officer, told Reuters. Amin said the aim was to get major industry players to make decarbonization commitments that would help limit global warming. The meeting, convened by the UAE president of COP28, Jaber, was attended by U.S. Climate Envoy John Kerry and tackled issues such as commercializing hydrogen, scaling up carbon capture technologies, methane elimination and increasing renewable energy, a statement by COP28 said. |
A part of the conversation |
Jaber has said the oil and gas industry needs to be part of the conversation on climate change. He has urged the energy industry to achieve net-zero emissions by or before 2050 and to accelerate an industry-wide commitment to reach near-zero methane emissions by 2030. The inclusion of oil and gas representatives is a far cry from the 2021 U.N. climate change summit in Scotland, where energy companies complained they were shut out of the event. "For too long, this industry has been viewed as part of the problem, that it's not doing enough and, in some cases, even blocking progress. This is your opportunity to show the world that, in fact, you are central to the solution," Jaber said at the oil and gas conference in Abu Dhabi. Jaber, who is also head of UAE state oil giant ADNOC, was a controversial pick to lead the climate summit because his country is an OPEC member and a major oil exporter. Ahead of COP28, countries remain divided between those demanding a deal to phase out planet-warming fossil fuels and nations insisting on preserving a role for coal, oil and natural gas. |
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Attorney Ben Crump, Fearless Fund co-partners Arian Simone, Ayana Parsons, Lead counsel Mylan Denerstein and Co-Counsel Alphonso David. New York, U.S.REUTERS/Eduardo Munoz |
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- A federal appeals court blocked a venture capital fund from moving forward with a program that awards funding to businesses run by Black women in a case by the anti-affirmative action activist behind the successful U.S. Supreme Court challenge to race-conscious college admissions policies.
- The European Union launched the first phase of the world's first system to impose CO2 emissions tariffs on imported steel, cement and other goods as it tries to stop more polluting foreign products from undermining its green transition. The bloc will not begin collecting any CO2 emission charges at the border until 2026.
- Reuters legal columnist Hassan Kanu shares his thoughts about a recent decision in the 5th U.S. Circuit Court of Appeals, which ruled that the Louisiana Fair Housing Action Center has no right to bring a race bias suit against an apartment complex that allegedly refused to rent to anyone with a criminal record. Click here for more.
- Japan's top talent agency Johnny & Associates said it would split into two entities – one devoted to compensating victims of sexual abuse by its late founder, adding that 325 people so far have sought damages.
- Click here for a feature on three workers in Britain who have benefited from a gradual improvement in employment terms since the global pandemic and Brexit forced companies to work harder to find staff in a tight labor market, by Reuters journalists James Davey, Kate Holton and David Milliken.
- Breakingviews podcast: The country's automakers are overtaking legacy marques at home and abroad. Click here to listen to the Reuters Breakingviews Exchange podcast, where industry consultant Tu Le explains what has given BYD the edge over rivals. He also makes the case for treating Elon Musk's Tesla as a Chinese carmaker.
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Dave Timms, head of political affairs at UK-based environmental organization, Friends of the Earth, shares his thoughts on the Conservative Party Conference being held in Manchester following government U-turns on crucial green policies: "The Prime Minister's unraveling of vital climate policies last week was made up of exactly the cheap ploys and short-termism he railed against. "In one fell swoop he's put not just UK, and international, climate progress at stake, but dismantled crucial measures during a cost of living crisis that would actually help people hold on to more of their hard-earned cash. "What's more, he's undermined business confidence and failed to harness the huge green growth potential of transitioning to a zero carbon future. "Friends of the Earth has successfully taken the government to court once - we're willing to do it again if these new proposals fall short. We urge the Prime Minister to come clean on how his reckless policy reversals can possibly deliver on our climate goals. "Despite assurances the Prime Minister is committed to the UK's climate goals, it remains unclear how they will feasibly be met, with a government press release stating only that it 'will bring forward comprehensive new reforms in due course'." |
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Production of the chocolate-making ingredient, cocoa, is expanding outside of the main growing area in West Africa as farmers in places such Brazil, Ecuador and Colombia see potential profit in the crop. It also poses a threat to the livelihood of small farmers in Africa since recently planted orchards such as the ones in South America are more productive, reducing the overall cost of production. As environmental concerns rise globally, the fact that cocoa is a native species from the Amazon region makes planting it in South America a type of reforestation, while in Africa native forests are being razed to open space for cocoa orchards. |
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Ruth Essel, founder of Pointe Black Ballet School, teaches the girls their finishing positions at the end of class in south London, Britain. REUTERS/Alishia Abodunde |
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Today's ESG Spotlight focuses on women breaking barriers as two Wider Images special reports from Reuters take us from a safe space for Black ballerinas in London to a rickshaw company in Tokyo seeking more female recruits. It was a pointed comment about her Afro-braided hair that spurred Ruth Essel to carve out what she calls a safe space for Black dancers. The founder of Pointe Black Ballet School in London said when she was a child, teachers and assistants all but punished her for not fitting the traditional ballerina mold, as if she was using her race as some kind of rebellion. The iconic image of a ballet dancer remains light-skinned, even though the artform – which originated in the Italian Renaissance as court entertainment – has expanded globally with stars from Asia, South America and Cuba. And classical ballet companies strive for a uniform look especially in works like "Swan Lake," making it harder for dancers of color to get hired or promoted. |
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Rickshaw puller Yuka Akimoto, prepares her rickshaw in a garage at the Asakusa district, Tokyo, Japan. REUTERS/Issei Kato |
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Over in Japan, rickshaw puller Yuka Akimoto breathlessly dashes down the streets of Tokyo under a scorching summer sun, two French tourists enjoying the sights from the back of her black, two-wheeled cart. Akimoto is one of a handful of women who have chosen to pull rickshaws in Tokyo, attracted to the male-dominated profession through social media, which in turn has given some of these female pullers a strong local and international following. She joined Tokyo Rickshaw two years ago after the pandemic dashed her plans to start a job at Tokyo Disneyland. The company, which mainly operates in the Asakusa tourist area, says about a third of their 90 pullers are now women, and they are seeking more female recruits. "The first girl who joined was cool," said Tokyo Rickshaw President Ryuta Nishio. "Since we posted videos of her on social media, many girls have followed suit and joined us." |
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"The fossil fuel industry has admitted to creating 'sacrifice zones' around their plants where Black, brown, indigenous and poor communities endure polluted water and air, and increased asthma and cancer rates. Frontline communities have fought against this toxic industry for decades. Enough is enough, we deserve better. We are done dying!" Reverend Lennox Yearwood Jr., president and CEO of the national non-profit, Hip Hop Caucus |
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- Oct. 4, Abu Dhabi, UAE: The last day of a conference that brought leaders from the oil and gas sector and broader energy industry together for the city's annual flagship conference, Abu Dhabi International Progressive Energy Congress (ADIPEC).
- Oct. 4, Vatican City, Vatican City: Pope Francis will issue a new document on the protection of nature.
- Oct. 4, Johannesburg, South Africa: The country's top mining CEOs gather for a two-day conference, Joburg Indaba, to discuss the future of an industry battling to navigate challenges posed by rolling power outages, rail constraints and low platinum-group metal prices.
- Oct. 4-5, Madrid, Spain: EU Energy Commissioner Kadri Simson and Spain's Energy Minister Teresa Ribera, open the 10th Solar Forum, a two-day event organized by the Spanish Photovoltaic Union.
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