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BRUSSELS/DUBAI, Nov 30 (Reuters) - Countries at the U.N.'s COP28 climate summit opening on Thursday hope to clinch an early deal on a new fund to pay for climate-caused damage, aiming to muster some political goodwill before talks turn to divisive topics including the future of fossil fuels. With finance also high on the meeting agenda, the United Arab Emirates' COP28 presidency published a proposal on the eve of the summit, for countries to adopt a new U.N. climate damage fund - raising hopes among some delegates that this could be among the first deals struck in Dubai. "Opening these negotiations is like opening Pandora's box. Adnan Amin, CEO of the COP28 summit, told Reuters this month the aim was to secure several hundred million U.S. dollars for the climate damage fund during the event. A breakthrough on the climate damage fund - which poorer nations have demanded for years - could help grease the wheels for other compromises.

Persons: Wopke Hoekstra, Adnan Amin, Kate Abnett, Valerie Volcovici, Katy Daigle, Matthew Lewis Organizations: United Arab, Reuters, The European Union, Thomson Locations: BRUSSELS, DUBAI, Dubai, United Arab Emirates, Germany, Denmark, Netherlands, China, UAE, Brussels, Washington

☆ Yemen's Houthi capture ship on suspicion of Israeli connection
▼ + stars: | 2023-11-20 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

Adnan Amin / 500Px | 500Px | Getty ImagesYemen's Iran-backed Houthi militants have captured what they called an Israeli ship in the Red Sea and taken it to the Yemeni coast, calling all Israeli vessels a "legitimate target." He urged the international community to avoid working with Israeli ships or owned by Israeli individuals. "Yemeni armed forces confirm that they will continue to carry out military operations against the Israeli enemy until the aggression against Gaza stops," the spokesperson said. On Monday, Japan's top government spokesperson confirmed the capture of the Nippon Yusen-operated ship, Galaxy Leader, according to Reuters. It is not an Israeli ship."

Persons: Adnan Amin, Houthi, Yahya Saree, Benjamin Netanyahu's, Netanyahu, Nasser Kanaani Organizations: Gaza, Nippon, Galaxy, Reuters, Google, Republic News Agency, Islamic Revolutionary Guard Corps Locations: Iran, Yemeni, Tokyo, Saudi, Omani, Bahamas, Yemen, Turkey, India, Israeli, British, Israel, Straits, Hormuz, Tehran

The world-first climate "loss and damage" fund is set to be launched during the United Nations COP28 climate summit to be held Nov. 30-Dec. 12 in Dubai in the United Arab Emirates. "The Commissioner is ready to announce substantial financial contribution by the EU and its member states to the loss & damage fund at COP28 in the context of an ambitious outcome at COP28," the European Commission and the UAE's incoming COP28 president said in a joint statement, referring to EU Climate Commissioner Wopke Hoekstra. Adnan Amin, CEO of the COP28 summit, said the aim was to secure several hundred million U.S. dollars for it by the end of the event. He said he was "hopeful" that the COP28 host, the UAE, would also make a contribution. Countries agreed at last year's U.N. climate talks to launch the climate damage fund, a deal hailed as a breakthrough by more vulnerable, developing nations that have long demanded support to cope with climate-driven damage from drought, floods and rising seas.

Persons: Stephanie Lecocq, Wopke Hoekstra, Adnan Amin, Amin, John Kerry, Washington, Kate Abnett, Bart Meijer, Gareth Jones, Mark Heinrich Our Organizations: Environmental, Republique, New Global Financial, REUTERS, Rights, European Union, United, EU, European Commission, Finance, Reuters, Bloomberg, Economy, Thomson Locations: Paris, France, Rights BRUSSELS, United Nations, Dubai, United Arab Emirates, COP28, EU, UAE, Singapore

☆ COP28 CEO says oil and gas majors need to 'step up and be part of the solution'
▼ + stars: | 2023-10-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCOP28 CEO says oil and gas majors need to 'step up and be part of the solution'Adnan Amin, COP28 CEO, says "there's a growing realization in the oil and gas industry that, as a result of climate change, the social license to operate is precarious."

Persons: Adnan Amin

The COP28 summit is scheduled to take place in Dubai between Nov. 30 and Dec. 12. The United Arab Emirates' president of the conference, Jaber, has said the oil and gas industry needs to be part of the conversation on climate change. He has urged the energy industry to achieve net-zero emissions by or before 2050 and to accelerate an industry-wide commitment to reach near-zero methane emissions by 2030. "If the oil and gas industry signs up to decarbonization agreements and methane abatement that is a huge contribution to the debate," Amin said. Jaber, who is also head of UAE state oil giant ADNOC, was a controversial pick to lead the climate summit because his country is an OPEC member and a major oil exporter.

Persons: Amr Alfiky, COP28 UAE's Jaber, Adnan Amin, Amin, Sultan al, Jaber, John Kerry, COP28, Maha El, Emelia Sithole Organizations: United, United Arab Emirates, REUTERS, United Arab, Reuters, COP28, U.S . Climate, Thomson Locations: Abu Dhabi, United Arab, ABU DHABI, United Arab Emirates, United Nations, Dubai, U.S, Scotland, COP28, UAE, OPEC

Yet Amin said that while an agreement ridding the world of fossil fuels doesn't look likely, a “phase-down of fossil fuels is inevitable." In 10 years when critics and others look back at the talks, Amin wants to hear amazement. They say a phase-out of fossil fuels is the only way to curb warming to a manageable level. He pointed to the desire by some African countries to use fossil fuels to develop. Amin said upcoming climate talks aim to be the most inclusive ever, but that also includes the at-times vilified fossil fuel industry.

Persons: Adnan Amin, Amin, Sultan al, Jaber, Greta Thunberg, ” Amin, Antonio Guterres, it’s, Mohamed Adow, Adow, Niklas Hohne, Bill Hare, ” Hare, Nigel Purvis, “, Seth Borenstein Organizations: of Parties, United, Associated Press, petrostate United, petrostate United Arab Emirates, New Climate Institute, Analytics, U.S . State Department, AP Locations: Dubai, United Nations, petrostate United Arab, Kenya, UAE, Africa, Russia, China, Saudi Arabia

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