While world leaders pose for photos at Cop28, negotiations on the global stocktake are beginning in the background. AFP
While world leaders pose for photos at Cop28, negotiations on the global stocktake are beginning in the background. AFP
While world leaders pose for photos at Cop28, negotiations on the global stocktake are beginning in the background. AFP
While world leaders pose for photos at Cop28, negotiations on the global stocktake are beginning in the background. AFP

First draft of Cop28 global stocktake hints at tough talks ahead


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Cop28 has begun work on one of its central tasks: delivering a verdict on global climate policy that must be agreed by almost 200 countries.

A first working draft was circulated on Friday of the first “global stocktake”, which will set out how close we are to limiting global warming to 1.5°C and outline what more needs to be done.

The 12-page text of “building blocks” is a rough starting point for the two weeks of talks in the UAE.

It leaves key issues open and is sure to go through many revisions.

Still, it was welcomed as a useful opening salvo in which “all the ingredients are there”, as countries began giving their first reactions to the text at Dubai’s Expo City.

The draft text for the global stocktake:

· Says that countries are “not collectively on track to achieve the goals of the Paris Agreement”, which set the 1.5°C goal

· Notes with “significant concern” that there is a rapidly narrowing window to take the action needed to keep 1.5°C alive

· Leaves several options open on the table on the key energy debate, including a “phase-down/out [of] fossil fuels” and a “phase-down/out/no new coal”

· Emphasises the importance of protecting nature and ecosystems, while leaving specific calls to action on deforestation, agriculture and oceans for further discussion

· Urges parties to take the GST’s findings into account when they submit their next round of national climate policies, which are due before the Cop30 summit in 2025.

Fossil fuel debate

A verdict that the world is not on track has long been expected, after a September report underpinning the stocktake said “much more action” is still needed.

How to plug those gaps is a much more contentious issue, with differing views expressed on fossil fuels.

With the next stocktake not due until 2028, the talks in Dubai are regarded as a key moment to agree action before it is too late.

At Cop26 in Britain two years ago, a short early draft on “accelerating the phase-out of unabated coal power” turned into a much wordier compromise in which the language was changed to “phase-down” at the last minute.

Still, the fact that fossil fuels were mentioned in Friday’s draft at all was taken as a good sign.

“All the ingredients are there, just have to mix them together in a coherent string of words now,” said Sonia Dunlop, the chief executive of the Global Solar Council.

Simon Evans of energy website Carbon Brief said those pushing to agree language on a phase-out of fossil fuels “will be encouraged to see that explicitly in this first draft”.

“That's already a contrast with Cop27 [in Egypt], where the presidency consistently failed to include fossil fuel phase-out in draft negotiating texts, leaving many countries frustrated.”

Cop28 begins at Dubai's Expo City – in pictures

Analyst Tom Evans from think tank E3G said the draft was a “useful building block for the negotiations”.

“It highlights some areas where there is already convergence, but the most contentious areas aren't written as text just yet – including possible outcomes on renewable energy and fossil fuels, and on unlocking finance for climate action,” he said.

“There's much work ahead for negotiators to unpack this long text further and resolve these political debates.”

Hopes have been raised after a breakthrough on day one of Cop28, when countries agreed a deal on climate-related loss and damage – another key subject that has involved difficult talks.

Dr Sultan Al Jaber, Cop28 President and UAE Minister of Industry and Advanced Technology, said the loss and damage deal “sets a clear ambition for us to agree a comprehensive, ambitious GST decision over the next 12 days”.

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

What is cyberbullying?

Cyberbullying or online bullying could take many forms such as sending unkind or rude messages to someone, socially isolating people from groups, sharing embarrassing pictures of them, or spreading rumors about them.

Cyberbullying can take place on various platforms such as messages, on social media, on group chats, or games.

Parents should watch out for behavioural changes in their children.

When children are being bullied they they may be feel embarrassed and isolated, so parents should watch out for signs of signs of depression and anxiety

How to get exposure to gold

Although you can buy gold easily on the Dubai markets, the problem with buying physical bars, coins or jewellery is that you then have storage, security and insurance issues.

A far easier option is to invest in a low-cost exchange traded fund (ETF) that invests in the precious metal instead, for example, ETFS Physical Gold (PHAU) and iShares Physical Gold (SGLN) both track physical gold. The VanEck Vectors Gold Miners ETF invests directly in mining companies.

Alternatively, BlackRock Gold & General seeks to achieve long-term capital growth primarily through an actively managed portfolio of gold mining, commodity and precious-metal related shares. Its largest portfolio holdings include gold miners Newcrest Mining, Barrick Gold Corp, Agnico Eagle Mines and the NewMont Goldcorp.

Brave investors could take on the added risk of buying individual gold mining stocks, many of which have performed wonderfully well lately.

London-listed Centamin is up more than 70 per cent in just three months, although in a sign of its volatility, it is down 5 per cent on two years ago. Trans-Siberian Gold, listed on London's alternative investment market (AIM) for small stocks, has seen its share price almost quadruple from 34p to 124p over the same period, but do not assume this kind of runaway growth can continue for long

However, buying individual equities like these is highly risky, as their share prices can crash just as quickly, which isn't what what you want from a supposedly safe haven.

The rules on fostering in the UAE

A foster couple or family must:

  • be Muslim, Emirati and be residing in the UAE
  • not be younger than 25 years old
  • not have been convicted of offences or crimes involving moral turpitude
  • be free of infectious diseases or psychological and mental disorders
  • have the ability to support its members and the foster child financially
  • undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
  • A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
Stage 2

1. Mathieu van der Poel (NED) Alpecin-Fenix 4:18:30

2. Tadej Pogacar (SLV) UAE Team Emirates 0:00:06

3.  Primoz Roglic (SLV) Jumbo-Visma 0:00:06

4. Wilco Kelderman (NED) Bora-Hansgrohe 0:00:06

5. Julian Alaphilippe (FRA) Deceuninck-QuickStep 0:00:08

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Updated: December 01, 2023, 12:46 PM