COP28: OPEC Urges Members To Reject Fossil Fuel Phase-Out, Stresses Emission Cuts

COP28: OPEC Urges Members To Reject Fossil Fuel Phase-Out, Stresses Emission Cuts

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OPEC’s Secretary General, Haitham Al-Ghais, called upon member nations to prioritize emission reductions over targeting fossil fuels, citing the necessity for a fair transition.

Al-Ghais expressed concerns about politically motivated campaigns endangering global prosperity and urged proactive rejection of any discourse exclusively targeting energy sources.

Speaking to S&P Global Commodity Insights at COP28, Al-Ghais emphasized continuous advocacy for emission reduction while highlighting the need for investments across diverse energy sectors, including hydrocarbons and varied technologies.

READ ALSO: OPEC Announces 1 Million Bpd Cut In Monthly Oil Output For 2024 To Bolster Market Stability

He stressed the importance of equitable energy transitions addressing the needs of all communities.

At the joint GECF-OPEC meeting, Al-Ghais reiterated the core objectives of the Paris Agreement, emphasizing emission reduction, energy security, and universal access to affordable energy.

Nigerian officials at COP28 reinforced their stance, with Salisu Dahiru asserting that Nigeria will not halt its fossil fuel usage, underlining its reliance on these resources for economic growth.

OPEC’s stance refutes predictions advocating for halting investments in oil and gas projects, highlighting ongoing industry technological advancements aimed at emission reduction and the pivotal role fossil fuels play in ensuring global energy security.

Meanwhile, Nigeria asserts its position against fossil fuel phase-out, aligning with its economic interests and Africa’s stand.

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