{"id":30329,"date":"2023-12-01T09:57:05","date_gmt":"2023-12-01T09:57:05","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/at-cop28-un-chief-says-ending-fossil-fuel-use-only-way-to-save-burning-planet\/"},"modified":"2023-12-01T09:57:05","modified_gmt":"2023-12-01T09:57:05","slug":"at-cop28-un-chief-says-ending-fossil-fuel-use-only-way-to-save-burning-planet","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/at-cop28-un-chief-says-ending-fossil-fuel-use-only-way-to-save-burning-planet\/","title":{"rendered":"At COP28, UN chief says ending fossil fuel use only way to save burning planet"},"content":{"rendered":"<p><\/p>\n<div dir=\"auto\">\n<figure class=\"media  w-full  w-full  media--stretch  media--embed  \">\n<p><div class=\"ast-oembed-container \" style=\"height: 100%;\"><iframe title=\"\ud83d\udd34 LIVE COP28: World Leaders Address Climate Change Conference In Dubai | Dawn News English\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/AMXopqLSuI8?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/p>\n<\/figure>\n<p>United Nations Secretary General Antonio Guterres told world leaders on Friday that the burning of fossil fuels must be stopped outright and a reduction or abatement in their use would not be enough to stop global warming.<\/p>\n<p>\u201cWe cannot save a burning planet with a fire hose of fossil fuels,\u201d Guterres said.<\/p>\n<p>The 28th UNFCCC Conference of Parties commenced in Dubai\u2019s Expo City on Thursday with 52,000 party delegates and 90,000 non-party delegates joining this year\u2019s proceedings.<\/p>\n<p>The summit opened with good news for poor nations struggling to cope with natural disasters, as delegates <a href=\"https:\/\/www.dawn.com\/news\/1794105\/cop28-starts-on-high-note-with-creation-of-loss-and-damage-fund\">adopted<\/a> the \u201closs and damage fund\u201d to help the developing world bear the cost of climate-driven damages.<\/p>\n<p>In a speech at the opening ceremony of the summit today, the UN chief said: \u201cThe 1.5-degree limit is only possible if we ultimately stop burning all fossil fuels. Not reduce. Not abate.\u201d<\/p>\n<p>He urged fossil fuel companies to invest in a transition to renewable energy sources and told governments to help by forcing that change \u2014 including through the use of windfall taxes on industry profits.<\/p>\n<p>\u201cI urge governments to help industry make the right choice by regulating, legislating, putting a fair price on carbon, ending fossil fuel subsidies, and adopting a windfall tax on profits,\u201d he said.<\/p>\n<p>Addressing the world leaders, Guterres asserted that climate justice was long over due and developing countries were being devastated by disasters they did not cause. \u201cExtortionate borrowing costs are blocking their climate action plans and support is far too little, far too late.\u201d<\/p>\n<p>He went on to say that the climate challenge was not just another \u201cissue to the inbox\u201d but protecting the climate was the world\u2019s \u201cgreatest test of leadership\u201d.<\/p>\n<p>\u201cI urge you \u2026 make this COP count, make this COP a game changer, make this COP the newer hope in future of modern times,\u201d the UN chief concluded.<\/p>\n<p>Meanwhile, Britain\u2019s King Charles said the world was \u201cdreadfully far off track\u201d on addressing climate change and that the global economy would be in peril unless the environment was rapidly repaired.<\/p>\n<p>He told world leaders the dangers of climate change were no longer a distant risk, and urged them to take more action.<\/p>\n<p>\u201cI pray with all my heart that COP28 will be another critical turning point towards genuine transformational action,\u201d he said, in reference to the 2021 summit held in France.<\/p>\n<p>\u201cWe are seeing alarming tipping points being reached.\u201d<\/p>\n<p>Charles cited the impact of climate change globally, including floods in India and Pakistan and severe wildfires in the United States, Canada and Greece.<\/p>\n<p>\u201cUnless we rapidly repair and restore nature\u2019s unique economy, based on harmony and balance, which is our ultimate sustainer, our own economy and survivability will be imperiled,\u201d he said.<\/p>\n<h2><a id=\"uae-president-announces-30bn-fund-to-bridge-climate-finance-gap\" href=\"#uae-president-announces-30bn-fund-to-bridge-climate-finance-gap\" class=\"heading-permalink\" aria-hidden=\"true\" title=\"Permalink\"\/>UAE president announces $30bn fund to bridge climate finance gap<\/h2>\n<p>Separately, United Arab Emirates President Sheikh Mohammed Bin Zayed announced the establishment of a $30 billion climate fund for global climate solutions that it hopes will lead to $250 billion of investment by the end of the decade.<\/p>\n<p>Dubbed ALTRRA, the fund will allocate $25 billion towards climate strategies and $5 billion specifically to incentivise investment flows into the Global South, according to a statement by the COP28 Presidency.<\/p>\n<p>In collaboration with global asset managers BlackRock, Brookfield and TPG, ALTRRA has committed $6.5 billion to climate-dedicated funds for global investments, including the Global South, the statement said.<\/p>\n<p>ALTRRA was established by Abu Dhabi-based alternate investment manager Lunate, and COP28 Director-General Majid Al Suwaidi will serve as ALTRRA\u2019s chief executive officer.<\/p>\n<h2><a id=\"pm-kakar-joins-world-leaders-at-high-level-segment\" href=\"#pm-kakar-joins-world-leaders-at-high-level-segment\" class=\"heading-permalink\" aria-hidden=\"true\" title=\"Permalink\"\/>PM Kakar joins world leaders at high-level segment<\/h2>\n<p>Earlier, caretaker Prime Minister Anwaarul Haq Kakar joined world leaders at the Dubai Expo City for the high-level segment at the summit.<\/p>\n<p>According to a statement issued by the PM\u2019s Office, the premier was received by the UAE president and Guterres upon arrival at the venue.<\/p>\n<p>He also had an informal conversation with King Charles ahead of the segment.<\/p>\n<p>PM Kakar is leading the Pakistani delegation in the high-level segment and will attend the World Climate Action Summit on Dec 1 and 2. Foreign Minister Jalil Abbas Jilani, Finance Minister Dr Shamshad Akhtar, Federal Minister for Climate Change Ahmed Irfan Aslam and Energy Minister Muhammad Ali are also participating in COP28.<\/p>\n<p>Yesterday, the prime minister joined the chorus calling for the immediate operationalisation of the newly-approved fund, and called for its utilisation \u201con merit\u201d to help states in need.<\/p>\n<p>\u201cIf we wait for a UN framework it will take years [and] years. Therefore, initially it is possible to operationalise it under the World Bank and other multilateral entities,\u201d a PM Office statement quoted him as <a rel=\"noopener noreferrer\" target=\"_blank\" class=\"link--external\" href=\"https:\/\/www.youtube.com\/watch?v=NjMAxTYWJ2A\">telling<\/a> <em>CNN<\/em>.<\/p>\n<p>He said the utilisation of the fund should not be linked with development funds and loans from multilateral financial entities, rather the loss and damage funding should be in addition to these.<\/p>\n<p>Currently, he said, Pakistan\u2019s focus was on transformation from coal-based power plants to renewable energy projects.<\/p>\n<p>\u201cThis is the area which could attract interest of countries here in Gulf Cooperation Council (GCC), UAE, Saudi Arabia, Kuwait, and the settled economies and democracies on the Western side, so it is an opportunity for all of them and all of us,\u201d he added.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>United Nations Secretary General Antonio Guterres told world leaders on Friday that the burning of fossil fuels must be stopped outright and a reduction or abatement in their use would not be enough to stop global warming. \u201cWe cannot save a burning planet with a fire hose of fossil fuels,\u201d Guterres said. The 28th UNFCCC [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":30330,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/i.dawn.com\/large\/2023\/12\/011410384cf18c0.png?r=141118","fifu_image_alt":"","footnotes":""},"categories":[10],"tags":[],"class_list":["post-30329","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pakistan"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/30329","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/comments?post=30329"}],"version-history":[{"count":0,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/30329\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media\/30330"}],"wp:attachment":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media?parent=30329"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/categories?post=30329"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/tags?post=30329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}