CNBC's Sam Meredith is reporting that the UAE reportedly planned to use COP28 climate summit to lobby for oil and gas deals.
The article discusses the United Arab Emirates' (UAE) alleged plans to use its hosting of the COP28 climate summit as an opportunity to lobby for oil and gas deals. Leaked documents, published by the Centre for Climate Reporting in collaboration with the BBC, suggest that Sultan al-Jaber, COP28 president-designate and CEO of the state oil company ADNOC, intended to discuss fossil fuel deals with 15 countries at the conference. These revelations have sparked criticism due to the apparent conflict of interest, as al-Jaber is also involved in renewable energy through Masdar. The UAE's COP28 team reportedly prepared briefing notes for meetings with nearly 30 foreign governments, covering various subjects, including potential deals with China and petrochemical supply to Egypt. The summit, attended by leaders and delegates from around 200 countries, is seen as crucial for advancing global climate action. Amnesty International has called for al-Jaber to resign from ADNOC to ensure the summit's success, citing concerns over the influence of the fossil fuel lobby. Despite the controversy, ADNOC has announced plans to invest in low-carbon solutions, and Masdar is actively involved in renewable energy projects worldwide.