Berliner Boersenzeitung - Climate maths 'doesn't add up' without carbon capture: COP28 chief

EUR -
AED 4.228054
AFN 74.833174
ALL 93.364555
AMD 421.565177
AOA 1055.720532
ARS 1720.29465
AUD 1.644322
AWG 2.075175
AZN 1.93458
BAM 1.956524
BBD 2.321559
BDT 142.332678
BHD 0.434661
BIF 3410.162114
BMD 1.151276
BND 1.478247
BOB 14.033194
BRL 5.876107
BSD 1.152627
BTN 109.836651
BWP 15.676802
BYN 3.369447
BYR 22565.011394
BZD 2.318258
CAD 1.616823
CDF 2604.186139
CHF 0.932539
CLF 0.026975
CLP 1065.114926
CNY 7.774106
CNH 7.779345
COP 3734.601488
CRC 523.593784
CUC 1.151276
CUP 30.508816
CVE 110.305825
CZK 24.210243
DJF 205.255966
DKK 7.476495
DOP 66.864747
DZD 153.095548
EGP 57.700579
ERN 17.269141
ETB 186.044056
FJD 2.553418
FKP 0.853954
GBP 0.857338
GEL 3.004992
GGP 0.853954
GHS 13.468985
GIP 0.853954
GMD 85.19465
GNF 10121.746096
GTQ 8.794446
GYD 241.529391
HKD 9.028595
HNL 30.895435
HRK 7.537984
HTG 150.705777
HUF 364.154961
IDR 20689.697769
ILS 3.504064
IMP 0.853954
INR 109.753395
IQD 1509.958841
IRR 1583292.445177
ISK 142.021308
JEP 0.853954
JMD 182.587576
JOD 0.816268
JPY 181.256644
KES 148.940984
KGS 100.678981
KHR 4657.723841
KMF 492.746197
KRW 1648.419913
KWD 0.356389
KYD 0.960556
KZT 546.772362
LAK 26069.648473
LBP 103224.003586
LKR 387.003231
LRD 208.057003
LSL 19.009736
LTL 3.399419
LVL 0.696395
LYD 7.346719
MAD 10.747378
MDL 20.125449
MGA 4909.817141
MKD 61.547779
MMK 2417.315001
MNT 4137.143512
MOP 9.310646
MRU 46.164085
MUR 54.040305
MVR 17.787481
MWK 1998.739741
MXN 19.945516
MYR 4.71906
MZN 73.567165
NAD 19.009736
NGN 1570.190972
NIO 42.415698
NOK 10.977766
NPR 175.739042
NZD 1.961976
OMR 0.442682
PAB 1.152627
PEN 3.893041
PGK 5.086883
PHP 70.146828
PKR 320.062556
PLN 4.312772
PYG 6875.544665
QAR 4.201955
RON 5.246941
RSD 117.390701
RUB 92.562984
RWF 1690.325596
SAR 4.309375
SBD 9.292129
SCR 15.452692
SDG 690.765342
SEK 11.010401
SGD 1.476615
SLE 28.148317
SOS 658.743804
SRD 43.525146
STD 23829.090678
STN 24.509071
SVC 10.085733
SZL 19.013037
THB 38.463672
TJS 10.64474
TMT 4.029466
TND 3.382425
TRY 54.748357
TTD 7.815893
TWD 37.313999
TZS 3049.72806
UAH 51.703936
UGX 4313.596478
USD 1.151276
UYU 46.358164
UZS 13820.114876
VES 860.983443
VND 30263.594618
VUV 137.059598
WST 3.148154
XAF 656.199862
XAG 0.019721
XAU 0.000283
XCD 3.111381
XCG 2.077369
XDR 0.816102
XOF 656.199862
XPF 119.331742
YER 274.461274
ZAR 19.019311
ZMK 10362.854282
ZMW 21.662017
ZWL 370.710432
  • CMSC

    -0.0800

    21.76

    -0.37%

  • NGG

    -0.1100

    79.86

    -0.14%

  • BCC

    6.6500

    83.03

    +8.01%

  • RYCEF

    0.6500

    20.2

    +3.22%

  • RIO

    -0.9500

    95.9

    -0.99%

  • RBGPF

    1.7800

    70.99

    +2.51%

  • BCE

    0.1100

    21.79

    +0.5%

  • GSK

    -0.1800

    51.51

    -0.35%

  • JRI

    -0.1400

    12.82

    -1.09%

  • AZN

    -11.6700

    157.97

    -7.39%

  • CMSD

    -0.0900

    22.02

    -0.41%

  • VOD

    -0.1700

    15.61

    -1.09%

  • RELX

    0.7400

    36.16

    +2.05%

  • BTI

    -1.0900

    59.56

    -1.83%

  • BP

    -0.9600

    44.26

    -2.17%

Climate maths 'doesn't add up' without carbon capture: COP28 chief
Climate maths 'doesn't add up' without carbon capture: COP28 chief / Photo: Karim SAHIB - AFP

Climate maths 'doesn't add up' without carbon capture: COP28 chief

The Emirati oil chief leading this year's UN climate talks said Wednesday the world must get "serious" about new emission-capturing technology, rather than focussing only on replacing fossil fuels with renewable energy.

Text size:

Sultan Al Jaber said renewables such as solar and wind "cannot be the only answer", especially in the steel, cement and aluminium industries, where emissions are particularly hard to reduce.

While major oil producers Saudi Arabia and the United Arab Emirates are touting carbon capture and storage as a remedy for global warming, some experts caution that the nascent technology is unproven and expensive, and should not replace efforts to phase out hydrocarbons.

"Renewable energies are not and cannot be the only answer," argued Al Jaber, who is simultaneously the head of state oil giant ADNOC and the country's climate envoy.

"If we are serious about curbing industrial emissions, we need to get serious about carbon capture technologies," he told the United Arab Emirates' Climate Tech event in Abu Dhabi.

"We need to phase out emissions," added Al Jaber, reiterating his position that crude remains indispensable to the global economy and crucial to financing the energy transition.

- COP battleground issue -

The debate between carbon capture and reduced fossil fuel use is shaping as a key battleground at COP28, beginning in November in Dubai, the UAE's commercial hub.

Earlier this year, the UN's climate expert panel (IPCC) said the world risks crossing the key 1.5-degree Celsius global warming threshold in about a decade, urging a drastic reduction in planet-heating emissions.

One of the fastest transformations will need to be in energy, the report said, with solar and wind power already expanding dramatically.

Major economies are taking key steps, with the European Union banning sales of new fossil fuel cars from 2035 and planning to nearly double renewable energy production by 2030.

But greenhouse gas emissions from existing fossil fuel infrastructure will still push the world beyond 1.5C unless the costly and emerging carbon capture and storage technologies are utilised, the IPCC said.

"Cost remains a barrier," said Al Jaber, president-designate of COP28.

He said policymakers must provide incentives to companies to commercialise technological solutions, including carbon capture and storage (CCS) and direct air capture (DAC).

CCS syphons off CO2 pollution from energy production and heavy industry and stores it underground, thus preventing it from entering the atmosphere.

By contrast, direct air capture -– still in its infancy -- removes CO2 directly from ambient air, which makes it a "negative emissions" technology.

- 'Distraction we can't afford' -

Some environmentalists are sceptical about the focus on carbon capture, with Rex Weyler from Greenpeace last year labelling it a "scam".

"Carbon offset technologies are a distraction that we cannot afford," Julien Jreissati, programme director at Greenpeace MENA, told AFP on Wednesday.

"They have yet to be commercially viable and are not proven at scale despite years of development and billions of dollars of investment."

Worldwide, there are about 35 commercial facilities applying carbon capture, utilisation and storage to industrial processes, fuel transformation and power generation, with a total annual capture capacity of almost 45 million tonnes of CO2, according to the International Energy Agency.

Current global CO2 emissions from all sources are about 40 billion tonnes.

Novel DAC technologies only account for a tiny fraction -- about 0.1 percent -- of worldwide carbon dioxide removal, the first global assessment of CO2 removal said in January.

The report stated that capping global warming at liveable levels will be impossible without massively scaling up the extraction of planet-warming carbon dioxide from the atmosphere.

(S.G.Stein--BBZ)