There is no single answer to the challenges of energy transition — OPEC Chief

As the pressure to agree on a phase-out of fossil fuels at the COP28 climate conference rises, the chairman of OPEC oil cartel stated on Saturday that there was no “single solution” to the energy transition.

OPEC secretary general Haitham Al Ghais stated at the UN summit in Dubai that “there is no single solution or path to achieve a sustainable energy future.”

“Realistic strategies that promote economic expansion, aid in the eradication of poverty, and boost resilience are what we need to address emissions.”

The Kuwaiti secretary general wrote to OPEC’s 13 members and 10 allies this week, pushing them to “proactively reject” any language that “targets” fossil fuels rather than emissions, which led to criticism of the organisation on Saturday.

In an effort to meet the global target of keeping warming to 1.5 degrees Celsius, negotiators have engaged in lengthy sessions with the purpose of reaching a compromise about the future of oil, gas, and coal.

AFP