COP 28 has yet to come to a consensus on a variety of topics, particularly tourism and any other potential issues.
The COP28 climate negotiations took longer than alloted on Tuesday as countries involved worked hard to bridge the wide gaps between them concerning the usage of fossil fuels in the final report of the summit. The result of this meeting will make it unmistakably clear to worldwide financiers and stock exchanges how serious governments are about either stopping the utilization of oil or sustaining its usage in the foreseeable future. Many nations expressed their disapproval of the proposed agreement that was distributed on Monday due to it not advocating for the elimination of fossil fuels, which scientists proclaim is the leading source of greenhouse gases and the cause of climate change. Despite having many powerful nations in agreement, such as the US, European Union, and various island nations, these endeavors encountered harsh opposition from OPEC and its allies. Saudi Arabia has been standing against the insertion of any language that is unfavorable to fossil fuels in the COP763 negotiations, as reported by negotiators and observers. Yet, there has been adversity from various OPEC and OPEC+ participants, specifically Iran, Iraq, and Russia, with regard to coming to an agreement about ceasing to employ fossil fuels. Various signatories, such as Australia, Canada, Chile, Norway, the European Union, and the United States, out of the entire 100-person coalition that advocated for a drastic shift away from coal, oil, and gas, voiced displeasure with the draft of the Monday deal for not being strong enough. Even though renewable energies have made an impactful increase recently, oil, gas, and coal still make up the bulk of the world’s energy sources, accounting for around 80 percent.