ʶԳ

Geopolitics

Western Producer Alignment Critical for COP28 Success

Copyright © 2025 ʶԳ Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.
Merger,Acquisitions,Consolidation,Connection,Business,m&a
Andrii Yalanskyi/Shutterstock

Championed by Island states and strongly supported by the EU, the real clincher for last week's COP28 agreement to transition away from fossil fuels may ultimately have been the broad alignment of big Western fossil fuel producers — like the US, Canada, Australia and Norway — behind fossil fuel language. This “alignment around the fact that fossil fuels had to be mentioned in the final communique for the first time,” whether it was abated (with carbon mitigation) or unabated fossil fuels, “was critical,” argues James Henderson from the Oxford Institute for Energy Studies. The “introduction of the ability to remove carbon or CO2 as part of the process” was also “very important" and a "big driver for the US," Henderson told ʶԳ. Notably, the political stars among these center-left producer-consumer governments may not align as favorably again, with the US facing a polarizing election in November 2024.

Topics:
COP28, Low-Carbon Policy, Policy and Regulation, Carbon Capture (CCS), CO2 Emissions, Hydrogen, Methane Emissions
Wanda Ad #2 (article footer)
China is on a climate diplomacy charm offensive after the US abdicated its leadership role and after dominating the clean tech industry, but it faces challenges.
Thu, May 8, 2025
Oman's third green hydrogen auction highlights Mideast progress despite a lack of FIDs, while incentives in Europe and the Asia-Pacific keep the sector on a steady path.
Thu, May 8, 2025
Most big European oil companies seem reluctant to commit to firm end-use emissions cuts, but the approaches are nuanced.
Wed, Dec 18, 2024