|
Presented by Chevron: Your guide to the political forces shaping the energy transformation | | | | |  | | By Joel Kirkland and Minho Kim | Presented by Chevron | | 
United Nations Secretary-General Antonio Guterres speaks during a session at the COP28 U.N. Climate Summit, Friday, Dec. 1, 2023, in Dubai, United Arab Emirates. (AP Photo/Joshua A. Bickel) | AP | | Tensions over the Israel-Hamas war boiled over during the United Nations climate summit today, shoving aside global warming at the end of a week-long truce in Gaza. Friday was a parade of speeches by world leaders meeting in Dubai for the COP28 summit. But condemnations of violence, furious sideline diplomacy and an Iranian boycott darkened the mood, write Zia Weise, Karl Mathiesen, Charlie Cooper and Suzanne Lynch, part of the POLITICO team covering the conference. The day brought plenty of intrigue. Middle East leaders abruptly disappeared from the speakers’ list. Mahmoud Abbas, head of the Palestinian Authority, had been scheduled to talk just a few slots after Israeli President Isaac Herzog — but neither ended up speaking. The crown prince of Saudi Arabia, Mohammed bin Salman, was a total no-show. Shortly after leaders posed for a group photo, the Iranian delegation packed up its pavilion and walked out. The reason: Israel was there. (Or the “fake Zionist regime,” in the words of Iran’s energy minister.) Leaders from Jordan, Iraq and South Africa, and Turkish President Recep Tayyip Erdoğan, used their speeches to bring attention to the war in Gaza. Meanwhile in the backrooms of the conference, U.S. Secretary of State Antony Blinken met with Herzog. And Vice President Kamala Harris is expected to have discussions about the war besides being scheduled to speak at the conference on Saturday. The annual climate summits — 104,000 people in attendance this year — aren’t fenced off from the violence and political turmoil swirling around them. Russia and Ukraine remain at war, far-right electoral victors are testing global politics, and inflation is roiling economies. “There are currently a number of very, very serious crises that are causing great suffering for many people,” a German diplomat told our reporters. “It was clear that these would also affect the mood at the COP.” 2023 is almost certain to be the hottest year ever recorded, according to the World Meteorological Organization. Keeping heat, natural disasters and rising seas from dislocating huge populations is still driving the talks, if organizers can be kept on track. On Thursday, leaders cheered an agreement to support a fund meant to help island nations and poor communities cope with sea-level rise and climate disasters. Countries followed that with hundreds of millions of dollars in initial pledges — a surprisingly quick burst of cash, even if it’s a rounding error compared with the total need. Heading into the weekend, more speeches from leaders will set the stage for an almost two-week slog toward sealing deals around fossil fuel use and renewable energy targets.
| | | It's Friday — thank you for tuning in to POLITICO's Power Switch. I'm your host, Joel Kirkland, with help from Minho Kim. Power Switch is brought to you by the journalists behind E&E News and POLITICO Energy. Send your tips, comments, questions to jkirkland@eenews.net.
| | | | GET A BACKSTAGE PASS TO COP28 WITH GLOBAL PLAYBOOK: Get insider access to the conference that sets the tone of the global climate agenda with POLITICO's Global Playbook newsletter. Authored by Suzanne Lynch, Global Playbook delivers exclusive, daily insights and comprehensive coverage that will keep you informed about the most crucial climate summit of the year. Dive deep into the critical discussions and developments at COP28 from Nov. 30 to Dec. 12. SUBSCRIBE NOW. | | | | | | | | Today in POLITICO Energy’s podcast: Sara Schonhardt breaks down what is and isn’t going well so far at the U.N. climate talks in Dubai.
| | | | A message from Chevron: Progress means moving toward a lower carbon future. We’re producing renewable fuels that are lower carbon to work in engines on the road now. | | | | | | | 
An oil pump jack operates in Long Beach, California, in 2021. The Biden administration is racing to finalize a series of methane rules on the oil and gas sector. | Mario Tama/AFP via Getty Images | New methane regulation expected to roll out at COP28
A federal rule that would limit methane emissions from oil and gas production, storage, pipelines and other facilities could become final as soon as Saturday at an event hosted by the U.S. and China at the United Nations climate summit, writes Jean Chemnick. Methane, the major component of natural gas, traps 80 times more heat than carbon dioxide over a 20-year period. It accounts for roughly a third of global warming since industrialization, but the oil and gas industry says the new policy clashes with state programs and other federal regulations. Biden’s industrial policy clashes with his climate goals
A new, stringent rule for electric vehicle tax credits could shrink the number of consumers who can benefit from the climate subsidies and hamper President Joe Biden’s ambitious EV agenda, writes James Bikales. The rule disqualifies car models using parts from companies with even loose ties to Beijing, which include suppliers producing in China or having as little as 25 percent of board seats controlled by the Chinese government. In passing last year’s Inflation Reduction Act, Congress made vehicle models built with battery parts or critical minerals from China, Russia, Iran and North Korea ineligible for $7,500 EV tax credits. UK prime minister roasted for 11-hour COP visit
Rishi Sunak’s less-than-a-day stay contrasts with longer visits by King Charles III and other European leaders and could amplify criticism that he is “simply uninterested” in climate issues, writes Charlie Cooper. The British government recently backtracked on its emissions targets for electric vehicles and home heating, while committing to new oil and gas developments in the North Sea, which triggered uproar from environmentalists. Sunak has recently labeled his climate approach “pragmatic,” saying green policies should not “burden ordinary families.”
| | | | A message from Chevron:   | | | | | Controlling atmosphere: A new United Nations report lays out an ethical framework for climate engineering. New climate fund: The United Arab Emirates has set up a $30 billion fund to invest in clean energy projects worldwide, with a particular emphasis on financing infrastructure in developing countries. | | | | A message from Chevron: Our partnerships enable us to make a bigger impact on the lifecycle carbon intensity of the transportation industry. Working with agriculture, transportation, and other allies, we’re aiming to continue scaling lower carbon intensity fuels. We’re also developing strong value chains to help keep producing renewable fuel solutions using a variety of feedstocks such as plant byproducts and cow manure. Taking these steps bring us closer to our target production capacity of 100,000 barrels of renewable fuels per day by 2030. Driving the world forward today, while forging new roads to the future. That’s energy in progress. | | | | | A showcase of some of our best content.
| 
A fisherman walks across a dry patch of land in the marshes of Dhi Qar province, Iraq, on Sept. 2, 2022. | Anmar Khalil/AP Photo |
Climate-fueled heat, droughts and floods could deepen long-standing tensions in the Middle East and Central and South Asia, further destabilizing U.S. interests in the region, a new RAND report says.
Minnesota-based Cargill pledged to stop buying ag products from deforested areas in South America, but enviros say its new promise is not enough. Arizona regulators approved two new natural-gas generation units and sparked fury among climate advocates, as utilities across the country struggle to meet growing industrial and residential demand. That's it for today, folks. Thanks for reading, and have a great weekend!
| | | | SUBSCRIBE TO CALIFORNIA CLIMATE: Climate change isn’t just about the weather. It's also about how we do business and create new policies, especially in California. So we have something cool for you: A brand-new California Climate newsletter. It's not just climate or science chat, it's your daily cheat sheet to understanding how the legislative landscape around climate change is shaking up industries across the Golden State. Subscribe now to California Climate to keep up with the changes. | | | | | | | | | Follow us on Twitter | | | | Follow us | | | | |  |
