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CNN —The United States is receiving criticism for contributing an “embarrassing” amount of money to a new climate fund adopted Thursday at the COP28 talks in Dubai, offering a pledge more than five times lower than the United Arab Emirates . Some countries pledged money to the fund right after it was agreed. Money from rich nations must now begin flowing into the fund, they said. Several wealthy nations, including the United States, have been reluctant to tie countries’ obligations to their historic emissions. It’s also been contentious because wealthy nations have expressed concern that paying for such a fund could be seen as admission of climate liability.

Persons: Sultan Al Jaber, ”, Ani Dasgupta, Dasgupta, ” “, ” Dasgupta, Mohamed Adow, ” Adow, “, Biden, John Kerry, ” Tom Evans, ” Evans, “ they’re, It’s, Al Jaber —, ADNOC —, Al Jaber Organizations: CNN, United, United Arab Emirates, World Bank, Japan, World Resources Institute, Republican, Republicans, US Locations: United States, Dubai, United Arab Emirates, United Arab, Germany, UAE, COP28, Egypt

☆ Oil giant led by COP28 boss to spend an ‘eyewatering’ $1 billion a month on fossil fuels this decade, Global Witness says
▼ + stars: | 2023-09-04 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

UAE oil giant ADNOC — run by the president of the COP28 climate conference — is expected to spend more than $1 billion every month this decade on fossil fuels, according to new analysis by international NGO Global Witness. It comes ahead of the COP28 climate summit, with Dubai set to host the U.N.'s annual conference from Nov. 30 through to Dec. 12. The person overseeing the talks, Sultan al-Jaber, is chief executive of ADNOC (the Abu Dhabi National Oil Company) — one of the world's largest oil and gas firms. His position as both COP28 president and ADNOC CEO caused dismay among civil society groups and U.S. and EU lawmakers, although several government ministers have since defended his appointment. It means that ADNOC is forecast to spend nearly seven times more on fossil fuels through to 2030 than it does on "low-carbon solution" projects.

Persons: Sultan Al Jaber, Sultan al, Jaber Organizations: Abu Dhabi National Oil Company, UAE, Global, ADNOC, CNBC Locations: Abu Dhabi, Brussels, Dubai, Paris

☆ UAE oil chief is ‘the perfect person’ to lead UN climate talks, COP28 director general says
▼ + stars: | 2023-06-01 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

The UAE will host the COP28 climate summit from Nov. 30 through to Dec. 12. The director general of COP28 on Thursday defended the appointment of oil executive Sultan al-Jaber, describing the Abu Dhabi National Oil Company CEO as the "perfect person" to lead the climate talks. The UAE, the third-largest oil-producing member of the OPEC alliance, will host the COP28 climate summit from Nov. 30 through to Dec. 12. Asked by CNBC's Dan Murphy to respond to the calls to remove al-Jaber as president-designate of the summit, COP28 Director General Majid al-Suwaidi said: "This is a discussion that we've seen a lot in the media. "As the UAE we've been really focused on how do we deliver the results we need for COP28 and I know that Dr. Sultan is the perfect person to do that.

Persons: Sultan al, Jaber, COP28, Joe Biden, Ursula von der Leyen, Bernie Sanders, Elizabeth Warren, CNBC's Dan Murphy, Majid al, Suwaidi, we've, —, they're, Sultan Organizations: Abu, Abu Dhabi National Oil Company, European, United, U.S, UAE we've Locations: UAE, COP28, Abu Dhabi, United Arab Emirates

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