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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Live updates: Follow the latest news on Cop28

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

  • Cop27 President Sameh Shoukry, left, hands over the gavel to Cop28 President Dr Sultan Al Jaber at the UN climate conference's opening ceremony. AFP
    Cop27 President Sameh Shoukry, left, hands over the gavel to Cop28 President Dr Sultan Al Jaber at the UN climate conference's opening ceremony. AFP
  • Dr Sultan Al Jaber speaks during the opening session at Expo City Dubai. AP
    Dr Sultan Al Jaber speaks during the opening session at Expo City Dubai. AP
  • King Charles III visiting Heriot-Watt University Dubai Campus during the Cop28 summit. PA
    King Charles III visiting Heriot-Watt University Dubai Campus during the Cop28 summit. PA
  • Sameh Shoukry, Cop27 President, centre, attends the opening session. AP
    Sameh Shoukry, Cop27 President, centre, attends the opening session. AP
  • US Special Presidential Envoy for Climate John Kerry attends the Cop28 opening session. Reuters
    US Special Presidential Envoy for Climate John Kerry attends the Cop28 opening session. Reuters
  • Raquel Sousa Chaves from Brazil at Cop28. Chris Whiteoak / The National
    Raquel Sousa Chaves from Brazil at Cop28. Chris Whiteoak / The National
  • Visitors on the first day of Cop28. Chris Whiteoak / The National
    Visitors on the first day of Cop28. Chris Whiteoak / The National
  • Recyclable wind turbines on show on the first day of Cop28. Chris Whiteoak / The National
    Recyclable wind turbines on show on the first day of Cop28. Chris Whiteoak / The National
  • A plant-based food cafe at Cop28. Chris Whiteoak / The National
    A plant-based food cafe at Cop28. Chris Whiteoak / The National
  • Vegan activists on the first day of Cop28. Chris Whiteoak / The National
    Vegan activists on the first day of Cop28. Chris Whiteoak / The National
  • Pollution Pods, an installation by British artist Michael Pinsky, where Cop28 visitors can safely experience the air pollution in Beijing and other cities. Chris Whiteoak / The National
    Pollution Pods, an installation by British artist Michael Pinsky, where Cop28 visitors can safely experience the air pollution in Beijing and other cities. Chris Whiteoak / The National
  • Indigenous leaders and climate campaigners are among the attendees at Cop28. Chris Whiteoak / The National
    Indigenous leaders and climate campaigners are among the attendees at Cop28. Chris Whiteoak / The National
  • Fair-trade vegan chocolate being handed out at Cop28. Chris Whiteoak / The National
    Fair-trade vegan chocolate being handed out at Cop28. Chris Whiteoak / The National
  • Day one at Cop28, Dubai. Chris Whiteoak / The National
    Day one at Cop28, Dubai. Chris Whiteoak / The National
  • Cop28, Dubai Expo City. Chris Whiteoak / The National
    Cop28, Dubai Expo City. Chris Whiteoak / The National
  • The first day of Cop28. Chris Whiteoak / The National
    The first day of Cop28. Chris Whiteoak / The National
  • Cop28, Dubai. Chris Whiteoak / The National
    Cop28, Dubai. Chris Whiteoak / The National
  • The first day of Cop 28 at Expo City, Dubai. Chris Whiteoak / The National
    The first day of Cop 28 at Expo City, Dubai. Chris Whiteoak / The National
  • National flags on display at the UN climate summit. AP
    National flags on display at the UN climate summit. AP
  • Delegates arriving for the opening of Cop28. Pawan Singh / The National
    Delegates arriving for the opening of Cop28. Pawan Singh / The National
  • More than 70,000 delegates, including world leaders, climate scientists, business leaders and young people, are expected to attend. Pawan Singh / The National
    More than 70,000 delegates, including world leaders, climate scientists, business leaders and young people, are expected to attend. Pawan Singh / The National
  • Delegates will engage in a stock take to see how pledges to limit global warming are being implemented. Pawan Singh / The National
    Delegates will engage in a stock take to see how pledges to limit global warming are being implemented. Pawan Singh / The National
  • The summit aims to keep on track efforts to restrict global warming to less than 1.5C above pre-industrial levels. Pawan Singh / The National
    The summit aims to keep on track efforts to restrict global warming to less than 1.5C above pre-industrial levels. Pawan Singh / The National
  • Hora – The Unity Dance artwork, by Marius Diaconu, on display at Cop28. Chris Whiteoak / The National
    Hora – The Unity Dance artwork, by Marius Diaconu, on display at Cop28. Chris Whiteoak / The National
  • Cop28 runs until December 12. Chris Whiteoak / The National
    Cop28 runs until December 12. Chris Whiteoak / The National

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”.

Racecard

6pm: The Pointe - Conditions (TB) Dh82,500 (Turf) 1,400m

6.35pm: Palm West Beach - Maiden (TB) Dh82,500 (T) 1,800m

7.10pm: The View at the Palm - Handicap (TB) Dh85,000 (Dirt) 1,400m

7.45pm: Nakeel Graduate Stakes - Conditions (TB) Dh100,000 (T) 1,600m

8.20pm: Club Vista Mare - Handicap (TB) Dh95,000 (D) 1,900m

8.55pm: The Palm Fountain - Handicap (TB) Dh95,000 (D) 1,200m

9.30pm: The Palm Tower - Handicap (TB) Dh87,500 (T) 1,600m

Squad for first two ODIs

Kohli (c), Rohit, Dhawan, Rayudu, Pandey, Dhoni (wk), Pant, Jadeja, Chahal, Kuldeep, Khaleel, Shami, Thakur, Rahul.

How to watch Ireland v Pakistan in UAE

When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.

The End of Loneliness
Benedict Wells
Translated from the German by Charlotte Collins
Sceptre

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
How Voiss turns words to speech

The device has a screen reader or software that monitors what happens on the screen

The screen reader sends the text to the speech synthesiser

This converts to audio whatever it receives from screen reader, so the person can hear what is happening on the screen

A VOISS computer costs between $200 and $250 depending on memory card capacity that ranges from 32GB to 128GB

The speech synthesisers VOISS develops are free

Subsequent computer versions will include improvements such as wireless keyboards

Arabic voice in affordable talking computer to be added next year to English, Portuguese, and Spanish synthesiser

Partnerships planned during Expo 2020 Dubai to add more languages

At least 2.2 billion people globally have a vision impairment or blindness

More than 90 per cent live in developing countries

The Long-term aim of VOISS to reach the technology to people in poor countries with workshops that teach them to build their own device

BRAZIL%20SQUAD
%3Cp%3EGoalkeepers%3A%20Alisson%2C%20Ederson%2C%20Weverton%3Cbr%3E%3Cbr%3EDefenders%3A%20Dani%20Alves%2C%20Marquinhos%2C%20Thiago%20Silva%2C%20Eder%20Militao%20%2C%20Danilo%2C%20Alex%20Sandro%2C%20Alex%20Telles%2C%20Bremer.%3Cbr%3E%3Cbr%3EMidfielders%3A%20Casemiro%2C%20Fred%2C%20Fabinho%2C%20Bruno%20Guimaraes%2C%20Lucas%20Paqueta%2C%20Everton%20Ribeiro.%3Cbr%3E%3Cbr%3EForwards%3A%20Neymar%2C%20Vinicius%20Junior%2C%20Richarlison%2C%20Raphinha%2C%20Antony%2C%20Gabriel%20Jesus%2C%20Gabriel%20Martinelli%2C%20Pedro%2C%20Rodrygo%3C%2Fp%3E%0A
Electric scooters: some rules to remember
  • Riders must be 14-years-old or over
  • Wear a protective helmet
  • Park the electric scooter in designated parking lots (if any)
  • Do not leave electric scooter in locations that obstruct traffic or pedestrians
  • Solo riders only, no passengers allowed
  • Do not drive outside designated lanes
Heavily-sugared soft drinks slip through the tax net

Some popular drinks with high levels of sugar and caffeine have slipped through the fizz drink tax loophole, as they are not carbonated or classed as an energy drink.

Arizona Iced Tea with lemon is one of those beverages, with one 240 millilitre serving offering up 23 grams of sugar - about six teaspoons.

A 680ml can of Arizona Iced Tea costs just Dh6.

Most sports drinks sold in supermarkets were found to contain, on average, five teaspoons of sugar in a 500ml bottle.

Updated: December 01, 2023, 12:46 PM