The chance of a good outcome at Cop28 has increased despite a “fiendishly difficult” geopolitical backdrop, a British minister has said.
Graham Stuart, the UK’s Minister of State for Energy Security and Net Zero, said he had come away from the pre-Cop event in Abu Dhabi this week feeling more positive than he had expected.
Speaking to The National on Wednesday, Mr Stuart said there was now hope at the crunch talks of clinching a decision ranging from fossil fuels to climate adaptation that parties could live with.
If you genuinely care about climate change, the UK is one country you don't need to worry about
Graham Stuart,
UK Minister of State for Energy Security and Net Zero
“The geopolitical context for this is fiendishly difficult and challenging,” said Mr Stuart.
“Coming into this there [was] not a huge amount of trust and goodwill. And yet, I've come away much more positive than I expected and a huge amount of that is down to the way the UAE has worked so hard at this.
“I feel we can find landing grounds that bring the world together and does allow us to enter Cop28 with a hope of getting a cover decision with which we can all live,” he said, referring to the declaration usually issued at the end of Cops.
The pre-Cop event attracted about 70 ministers from around the world.
It aimed to iron out major differences on key issues such as fossil fuels, boosting renewable energy, scaling up climate finance and the contentious issue of loss and damage.
Mr Stuart said he was hopeful of a deal on loss and damage at Cop28, but a sticking point in the talks surrounded who receives any money pledged, with some parties at the table advocating for all developing countries to be eligible.
He also said more work had to be done, rejecting, for example, the idea of “significant funds going to the world's largest emitter … instead of countries literally disappearing under the sea”, referring to how countries such as China are still classified as developing using some criteria.
“The eligibility for who receives [the funding] – that's contentious. I hope we can land that,” he said.
Mr Stuart rejected criticism of British Prime Minister Rishi Sunak's decision to postpone the ban on the sale of new petrol and diesel vehicles to 2035.
“If you genuinely care about climate change, the UK is one country you don't need to worry about,” he said.
He pointed to the fact that the UK has slashed emissions and enshrined its 2050 net zero target in law.
“Other than that we are an absolute laggard,” he said, adding that the best approach on climate issues was to bring everyone along.
“Take my constituents, many of whom are off the gas grid and worried about being forced to have a heat pump,” he said, referring residents of Beverly and Holderness, in northern England.
“We know if we are to maintain the UK as a clear global leader on climate action, which we are, then we have to retain the support and consent of the British people.
“We believe as Conservatives that it is best done by going with the grain of people's choices: not forcing them. The car change is simply going to align us with the rest of Europe,” he said.
Mr Stuart said it is “bizarre to have a focus” on the UK.
“We are so obviously the climate leader because we have cut emissions more than anyone else,” he added.
Cop28, at Expo City Dubai from November 30 to December 12, will see global leaders tackling the climate emergency.
Mr Stuart praised the role of Cop28 President-designate Dr Sultan Al Jaber, stating that he was “exactly the right man” to guide the talks.
“I've come out of pre-Cop feeling optimistic,” Mr Stuart said. “We need to act. It is the tragedy of the commons [where] everybody sits there looking at their pasture saying, 'I've only got eight cows and I'm not the one causing the problem.'
“Yet if anyone ruins the pasture, we will all starve. I can see a window where we can have a successful Cop28.”
If you go
- The nearest international airport to the start of the Chuysky Trakt is in Novosibirsk. Emirates (www.emirates.com) offer codeshare flights with S7 Airlines (www.s7.ru) via Moscow for US$5,300 (Dh19,467) return including taxes. Cheaper flights are available on Flydubai and Air Astana or Aeroflot combination, flying via Astana in Kazakhstan or Moscow. Economy class tickets are available for US$650 (Dh2,400).
- The Double Tree by Hilton in Novosibirsk ( 7 383 2230100,) has double rooms from US$60 (Dh220). You can rent cabins at camp grounds or rooms in guesthouses in the towns for around US$25 (Dh90).
- The transport Minibuses run along the Chuysky Trakt but if you want to stop for sightseeing, hire a taxi from Gorno-Altaisk for about US$100 (Dh360) a day. Take a Russian phrasebook or download a translation app. Tour companies such as Altair-Tour ( 7 383 2125115 ) offer hiking and adventure packages.
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
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Multitasking pays off for money goals
Tackling money goals one at a time cost financial literacy expert Barbara O'Neill at least $1 million.
That's how much Ms O'Neill, a distinguished professor at Rutgers University in the US, figures she lost by starting saving for retirement only after she had created an emergency fund, bought a car with cash and purchased a home.
"I tell students that eventually, 30 years later, I hit the million-dollar mark, but I could've had $2 million," Ms O'Neill says.
Too often, financial experts say, people want to attack their money goals one at a time: "As soon as I pay off my credit card debt, then I'll start saving for a home," or, "As soon as I pay off my student loan debt, then I'll start saving for retirement"."
People do not realise how costly the words "as soon as" can be. Paying off debt is a worthy goal, but it should not come at the expense of other goals, particularly saving for retirement. The sooner money is contributed, the longer it can benefit from compounded returns. Compounded returns are when your investment gains earn their own gains, which can dramatically increase your balances over time.
"By putting off saving for the future, you are really inhibiting yourself from benefiting from that wonderful magic," says Kimberly Zimmerman Rand , an accredited financial counsellor and principal at Dragonfly Financial Solutions in Boston. "If you can start saving today ... you are going to have a lot more five years from now than if you decide to pay off debt for three years and start saving in year four."
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Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
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Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
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French business
France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.
UAE currency: the story behind the money in your pockets