Tag: COP28

  • COP28: Exxon Mobil boss rejects IEA criticism of carbon capture strategy

    Exxon Mobil CEO Darren Woods on Saturday rejected the International Energy Agency’s recent claim that using wide-scale carbon capture to fight climate change was an implausible “illusion”, saying the same could be said about electric vehicles and solar energy. “There is no solution set out there today that is at the scale to solve the…

  • COP28: Sunak unveils £11bn deal for UK’s Dogger Bank wind farm

    A “massive” deal has been struck between energy firms RWE and Masdar to invest up to £11bn in the UK’s Dogger Bank wind farm, Rishi Sunak has said. The Prime Minister said the agreement included the funding commitment between the UAE-state owned and German-based renewable energy firms in what will be the world’s biggest wind…

  • COP28 hosts back proposed additional Saudi oil cuts

    Saudi Arabia could cut oil production further thanks to the first stage of the OPEC+ group’s meeting this morning, supported by the UAE. The nation has won provisional backing for the move has made it contingent on other nations contributing to the cuts, measures that if not could jeopardise the agreement. The UAE, hosts of…

  • What is COP28 and why does it matter? – CityAM

    What do King Charles, Greta Thunberg, Larry Fink, Rishi Sunak, Leonardo DiCaprio and Bill Gates all have in common? As of Friday, December 30, the monarch, prime minister, businessmen, film star and activist are among those expected — or rumoured — to convene in Dubai for the COP28 summit. The climate convention is unlikely to…

  • COP28: Global climate investment must hit £3.5 trillion during ‘decisive decade’

    Global climate investment needs to rise to $3.6 trillion (£2.9 trillion) by 2026, Allianz Trade has said, ahead of the COP28 environmental summit this week. The fortnight-long conference will begin on Thursday in Dubai, hosted by the United Arab Emirates, with scores of world leaders and delegates from almost 200 nations set to attend. It’s…