{"id":81205,"date":"2023-12-13T00:00:00","date_gmt":"2023-12-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/12\/13\/today-a-revised-draft-has-landed-with-a-call-to-transition-away-from-fossil-fuels\/"},"modified":"2023-12-13T00:00:00","modified_gmt":"2023-12-13T00:00:00","slug":"today-a-revised-draft-has-landed-with-a-call-to-transition-away-from-fossil-fuels","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/12\/13\/today-a-revised-draft-has-landed-with-a-call-to-transition-away-from-fossil-fuels\/","title":{"rendered":"TODAY: A revised draft has landed with a call to transition away from fossil fuels"},"content":{"rendered":"

Good morning, nice people. <\/strong>After 30+ hours of fraught negotiations, we have a revised draft of the Global Stocktake and ministers will be heading into a plenary session shortly to hammer out the details. Let\u2019s catch up on what\u2019s happened in the past 24 hours.<\/p>\n

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<\/a><\/strong>OVER IN COPLAND- We have a new draft text<\/strong>:<\/strong> COP28 has officially gone into overtime with ministers assessing an updated draft (pdf)<\/a> of the Global Stocktake this morning before meeting later in the AM to discuss. The COP presidency reportedly had several discussions scheduled with negotiators until 3am Dubai time, Bloomberg<\/a> reports. The new draft includes stronger language on moving away from the dirtiest sources of energy, in line with a target to reach climate neutrality by 2050. We have the full rundown in the news well below.<\/strong><\/p>\n

THE BIG QUESTION LOOMS-<\/strong> Will Saudi Arabia and friends take an immovable stance against a transition away from fossil fuels? The revised draft will need to be agreed upon by almost 200 countries represented at COP. <\/p>\n

IN ALL CASES, IT\u2019S A HISTORIC MOVE-<\/strong> If this revised text centered on the transition away from fossil fuels is approved, it would mark the first time in COP history nations agree on a united move away from oil, gas and coal \u2013 products that account for about 80% of global energy generation.<\/p>\n

<\/a>HERE\u2019S WHAT HAPPENED IN THE LEAD UP- <\/strong>The means of implementation was also a contentious point in the negotiations as developed nations continue to fall short<\/a> on their climate funding commitments stipulated under the Paris Agreement, the Guardian<\/a> reports. The developing countries \u201chave received less than 10% of the support of what we need between now and 2030 for the implementation plan,\u201d South Africa\u2019s environment minister, Barbara Creecy said, according to the news outlet. \u201cDeveloping countries simply cannot accept a fossil fuel phase-out \u2014 or any new target \u2014 without means of implementation, as they\u2019re already unable to even fund their current mitigation and adaptation plans (all while loss and damage costs are spiraling),\u201d the Guardian writes.<\/p>\n

ISLAND NATIONS HELD OUT FOR A PHASEOUT- <\/strong>The Alliance of Small Island States (AOSIS) reaffirmed<\/a> its stance, saying that they \u201ccannot sign on to a text that does not have strong commitments on phasing out fossil fuels,\u201d and \u201cany text that compromises 1.5C will be rejected.\u201d The small island countries said that signing the draft as is would be like signing their death certificate<\/a>. <\/p>\n

OTHERS WANTED STRONGER COMMITMENTS- <\/strong>The Umbrella Group<\/a> nations demanded a stronger text on fossil fuels, saying that they will not sign the agreement otherwise, Australian Climate and Energy Minister Chris Bowen said<\/a> in a statement on behalf of group members US, the UK, Canada and Japan. The US also reiterated the call for the text\u2019s language on fossil fuels to be \u201c substantially strengthened<\/a>.\u201d Other blocs that are pushing for phaseout language include the EU, the 46 Least Developed Countries, and the Independent Alliance of Latin America and the Caribbean, the Guardian<\/a> reports.<\/p>\n

KSA SAID NO WAY- <\/strong>Saudi Arabia reportedly refused \u2014 on behalf of the 22 Arab Group countries \u2014 the inclusion of a stronger language on fossil fuels in the draft, saying that the draft text is a \u201cgood base to work from\u201d and that the science does not necessitate a complete fossil fuel phaseout by 2050, The Guardian<\/a> reports. Kuwait also explicitly reiterated its rejection of an item calling for phasing out fossil fuels in the draft text, Oil Minister Saad Al Barrak told<\/a> Kuwait's state news agency (KUNA). Qatar was also amongst those clearly opposing tougher language on fossil fuels stating that the need lies in reducing emissions rather than eliminating the sources of emissions.<\/p>\n

AND BROUGHT THEIR FRIENDS ON BOARD- <\/strong>Speaking on behalf of the Like Minded Developing Countries<\/a> \u2014 which include Egypt, Algeria, Jordan, Iran, and Iraq, amongst others \u2014 Bolivia said that the text cannot prescribe the actions of countries and should be voluntary, similar to the Paris Agreement. Some African countries also share the same sentiment, saying that for them a fossil fuel phaseout is a \u201cnon-starter,\u201d Politico<\/a> reports, citing two anonymous African diplomats.<\/p>\n

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<\/a>WATCH <\/strong>THIS SPACE #1- Morocco is scouting for white <\/strong>hydrogen<\/strong>: <\/strong>Morocco\u2019s National Bureau for Hydrocarbons and Minerals signed an agreement with an unnamed Swiss company to conduct 3D seismic surveys in the Southern and Eastern parts of the country in a bid to quantify Morocco\u2019s geologic hydrogen reserves, Hespress<\/a> reports. <\/p>\n

SOUNDSMART- What is white hydrogen?<\/strong> Geologic hydrogen \u2014 also known as white hydrogen<\/a> \u2014 is believed to be produced deep underground through reactions between ultramafic and mafic rocks with anoxic water. The naturally-occurring hydrogen can be found in abundance in layers of continental and oceanic crusts, geysers, and hydrothermal systems. <\/p>\n

Already proven viable: <\/strong>The Malian town of Bourak\u00e9bougou is the first locale globally<\/a> to be powered by white hydrogen. Wildcatters \u2014 oil and gas explorers \u2014 have also found deposits of the gas in Oman, New Caledonia, Canada, Russia, Australia, Japan, Germany, and New Zealand. Oman\u2019s Energy and Minerals Ministry signed two MoUs<\/a> back in September with Eden GeoPower and Earth Sciences Consultancy Centre to conduct preliminary studies on exploring geological white hydrogen and identifying new sites for research. <\/p>\n

<\/a><\/strong>WATCH <\/strong>THIS SPACE #2- Biden administration to release SAF subsidy guidance this <\/strong>week: <\/strong>The US Treasury is expected to release guidance by the end of the week regarding whether to ease eligibility for subsidies for sustainable aviation fuel (SAF) derived from corn-based ethanol, Reuters<\/a> reports, citing multiple sources close to the Biden administration.<\/p>\n

Internal division:<\/strong> The administration has been divided over this decision for months due to lobbying pressure from stakeholders in the US Farm Belt, an influential constituency ahead of elections. SAF is crucial for corn-based ethanol producers to grow their industry amid the rise of EVs, and they argued for its use in reducing carbon emissions. However, environmental groups oppose clearing land to grow fuel crops, claiming that it is counterproductive to mitigating global warming. The guidance was originally expected in September but was then delayed until December, Reuters<\/a> reported.<\/p>\n

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Good morning, nice people. After 30+ hours of fraught negotiations, we have a revised draft of the Global Stocktake and ministers will be heading into a plenary session shortly to hammer out the details. Let\u2019s catch up on what\u2019s happened in the past 24 hours. 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