Berliner Boersenzeitung - Nations urged to 'go further' as fossil fuel exit talks wrap in Colombia

EUR -
AED 4.2854
AFN 73.513877
ALL 95.510242
AMD 433.136935
ANG 2.088595
AOA 1071.203322
ARS 1623.155257
AUD 1.637048
AWG 2.103316
AZN 1.988841
BAM 1.949665
BBD 2.351002
BDT 143.219321
BGN 1.946488
BHD 0.440592
BIF 3472.658894
BMD 1.166888
BND 1.490503
BOB 8.065619
BRL 5.857427
BSD 1.167227
BTN 110.652801
BWP 15.777285
BYN 3.286757
BYR 22871.006156
BZD 2.347613
CAD 1.596245
CDF 2707.180185
CHF 0.923656
CLF 0.026831
CLP 1055.999007
CNY 7.979472
CNH 7.98372
COP 4242.349933
CRC 530.8296
CUC 1.166888
CUP 30.922534
CVE 110.708526
CZK 24.389535
DJF 207.37905
DKK 7.473107
DOP 69.283997
DZD 154.851697
EGP 61.871784
ERN 17.503321
ETB 183.201494
FJD 2.574858
FKP 0.863638
GBP 0.866006
GEL 3.138536
GGP 0.863638
GHS 13.057687
GIP 0.863638
GMD 85.182963
GNF 10239.442958
GTQ 8.917899
GYD 244.210479
HKD 9.143869
HNL 31.051229
HRK 7.535408
HTG 152.878925
HUF 365.773316
IDR 20277.072323
ILS 3.468517
IMP 0.863638
INR 110.835288
IQD 1528.623371
IRR 1535041.255104
ISK 143.807139
JEP 0.863638
JMD 183.034034
JOD 0.827365
JPY 187.105255
KES 150.680561
KGS 102.020206
KHR 4679.221247
KMF 492.427083
KPW 1050.160366
KRW 1733.231342
KWD 0.35939
KYD 0.972735
KZT 540.648702
LAK 25642.365622
LBP 104474.479546
LKR 372.936454
LRD 214.561568
LSL 19.685307
LTL 3.445517
LVL 0.705839
LYD 7.409465
MAD 10.809759
MDL 20.094681
MGA 4842.585502
MKD 61.638331
MMK 2450.441126
MNT 4176.159573
MOP 9.422649
MRU 46.651906
MUR 54.645753
MVR 18.034257
MWK 2032.137573
MXN 20.479933
MYR 4.627916
MZN 74.569985
NAD 19.685422
NGN 1604.55262
NIO 42.836401
NOK 10.879948
NPR 177.044124
NZD 2.000105
OMR 0.44867
PAB 1.167227
PEN 4.112129
PGK 5.064072
PHP 71.770626
PKR 325.415929
PLN 4.258634
PYG 7262.147676
QAR 4.251559
RON 5.102787
RSD 117.399467
RUB 87.225251
RWF 1704.823469
SAR 4.376524
SBD 9.380426
SCR 16.071443
SDG 700.710364
SEK 10.870572
SGD 1.494516
SHP 0.8712
SLE 28.702881
SLL 24469.054893
SOS 666.881356
SRD 43.712824
STD 24152.227095
STN 24.738027
SVC 10.213859
SYP 129.215466
SZL 19.6617
THB 38.239409
TJS 10.943018
TMT 4.089943
TND 3.374932
TOP 2.809587
TRY 52.723968
TTD 7.937024
TWD 36.91894
TZS 3028.074582
UAH 51.448105
UGX 4348.316838
USD 1.166888
UYU 46.45382
UZS 14061.001063
VES 566.626558
VND 30754.501952
VUV 138.127072
WST 3.169123
XAF 653.896535
XAG 0.016137
XAU 0.000256
XCD 3.153573
XCG 2.10368
XDR 0.814159
XOF 652.290523
XPF 119.331742
YER 278.448622
ZAR 19.651737
ZMK 10503.389618
ZMW 22.031671
ZWL 375.737482
  • CMSD

    -0.1400

    23.06

    -0.61%

  • BCC

    -3.6100

    79

    -4.57%

  • RBGPF

    0.2800

    63.75

    +0.44%

  • VOD

    -0.1500

    15.34

    -0.98%

  • RELX

    -0.2100

    35.8

    -0.59%

  • NGG

    -1.4700

    85.98

    -1.71%

  • BCE

    -0.2400

    23.26

    -1.03%

  • RYCEF

    -0.4000

    14.9

    -2.68%

  • CMSC

    -0.0100

    22.82

    -0.04%

  • RIO

    -2.0000

    96.49

    -2.07%

  • JRI

    -0.0700

    12.74

    -0.55%

  • GSK

    -3.0700

    51.4

    -5.97%

  • BTI

    -1.0200

    57.45

    -1.78%

  • BP

    0.4500

    46.8

    +0.96%

  • AZN

    -1.4800

    185.2

    -0.8%

Nations urged to 'go further' as fossil fuel exit talks wrap in Colombia

Nations urged to 'go further' as fossil fuel exit talks wrap in Colombia

Nearly 60 nations hailed progress in the fight to exit fossil fuels as a breakaway conference wrapped up in Colombia on Wednesday -- but now face the harder work of turning words into action.

Text size:

Ministers and envoys gathered in the coal port of Santa Marta in the hope of speeding the shift away from planet-heating fossil fuels and breaking a stalemate at the UN climate talks.

The conference was announced last year after nations failed to include an explicit reference to fossil fuels in the final deal reached at the UN COP30 climate summit in Brazil.

But organizers say it gained momentum after the US-Israel attacks on Iran ignited a global energy crisis -- underscoring the risks of reliance even as some nations looked to fossil fuels to plug supply gaps.

From tiny island states to European powers and emerging markets, nations attended the conference voluntarily after an effort to tackle fossil fuels head-on at last year's COP30 failed.

"Countries are taking steps," said Dutch Climate Minister Stientje van Veldhoven, whose country co-hosted.

"Everybody who is here is here because they want to move further than where they are right now, and they think that we can be stronger together.

"Together we can be stronger -- and we can go further."

No binding commitments were expected but Colombian Environment Minister Irene Velez Torres said "big results" were achieved nonetheless.

She pointed to the creation of an expert panel of world-renowned climate scientists tasked with helping governments on their own transitions -- a daunting task in particular for developing nations dependent on oil and gas.

She thanked nations for coming together "to talk about the challenges (and) to talk about the taboos."

"When they look back at us from the future...They will remember that we were there and working on the challenges of our time," she said.

The climate-threatened Pacific nation of Tuvalu was also named as host of next year's conference with Ireland in what was seen as a crucial signal that the momentum would carry on beyond the first edition.

- 'Good atmosphere' -

Many major fossil fuel producers turned out for the event, from wealthy economies like Canada and Norway to developing oil giants like Angola and Brazil.

The United States, China, Saudi Arabia and Russia -- among other major producers and consumers of fossil fuels -- did not show up.

The conference bypassed the United Nations climate process altogether, reflecting a growing impatience with its failure to tackle fossil fuels, the main driver of global warming.

Many nations spoke of the relief at not having to cobble an agreement by consensus between nearly 200 nations -- a process that takes nearly two weeks at the annual COP climate summits and often ends in bitter disappointment.

"You could really feel it there -- that it's somehow a new beginning or a wake-up call, like things can't go on this way," German environment state secretary Jochen Flasbarth told reporters, noting "a very good atmosphere here."

Away from the conference rooms on the Caribbean coast, oil prices surged Wednesday to their highest level since early 2022, underlining the risk of fossil fuel reliance.

The global energy crisis triggered by the Middle East war dominated the talks, with fossil fuels cast as a threat to energy independence as much as the climate.

- Tough message -

For many nations -- particularly developing fossil fuel producers -- phasing out a major source of state revenue is easier said than done.

"Not phasing out -- phase down. That is the message," Onuoha Magnus Chidi, an adviser to Nigeria's regional development minister, told AFP in Santa Marta.

"People are going to lose their jobs...How are you trying to re-engage them in other sectors?" said the delegate from one of Africa's biggest oil and gas producers.

Nearly 200 countries agreed at COP28 in 2023 to transition away from fossil fuels, but efforts to turn that pledge into action have stalled.

The discussions in Santa Marta would feed into a voluntary "roadmap" aimed at moving the world away from fossil fuels being compiled by Brazil, said Ana Toni, CEO of last year's COP30.

(T.Burkhard--BBZ)