Delegates at UN Climate Talks in Dubai Agree to 'Transition Away' from Planet-warming Fossil Fuels

COP28 President Sultan al-Jaber attends a plenary session at the COP28 UN Climate Summit, Wednesday, Dec. 13, 2023, in Dubai, United Arab Emirates. (AP Photo/Kamran Jebreili)
COP28 President Sultan al-Jaber attends a plenary session at the COP28 UN Climate Summit, Wednesday, Dec. 13, 2023, in Dubai, United Arab Emirates. (AP Photo/Kamran Jebreili)
TT

Delegates at UN Climate Talks in Dubai Agree to 'Transition Away' from Planet-warming Fossil Fuels

COP28 President Sultan al-Jaber attends a plenary session at the COP28 UN Climate Summit, Wednesday, Dec. 13, 2023, in Dubai, United Arab Emirates. (AP Photo/Kamran Jebreili)
COP28 President Sultan al-Jaber attends a plenary session at the COP28 UN Climate Summit, Wednesday, Dec. 13, 2023, in Dubai, United Arab Emirates. (AP Photo/Kamran Jebreili)

United Nations climate negotiators directed the world on Wednesday to transition away from planet-warming fossil fuels in a move the talks chief called historic.
Within minutes of opening Wednesday’s session in Dubai, COP28 President Sultan al-Jaber gaveled approval of the central document — the global stocktake that says how off-track the world is on climate and how it will get back on track. Delegates stood and hugged each other.
“It is a plan that is led by the science,’’ al-Jaber said. “It is an enhanced, balanced, but make no mistake, a historic package to accelerate climate action. It is the UAE consensus.”
“We have language on fossil fuel in our final agreement for the first time ever,” said al-Jaber, who's also CEO of the UAE’s oil company.
United Nations Climate Secretary Simon Stiell told delegates their efforts were “needed to signal a hard stop to humanity’s core climate problem: fossil fuels and that planet-burning pollution".
Stiell cautioned people that what they adopted was a “climate action lifeline, not a finish line.”
The new deal had been floated early Wednesday and was stronger than a draft proposed days earlier.
The European Union's delegation celebrated the agreement as historic.
“I am in awe of the spirit of cooperation that has brought everybody together," United States Special Envoy John Kerry said. He said it shows that multilateralism can still work despite what the globe sees with wars in Ukraine and the Middle East. “This document sends very strong messages to the world.”
The deal also includes a call for tripling the use of renewable energy and doubling energy efficiency. Earlier in the talks, the conference adopted a special fund for poor nations hurt by climate change and nations put nearly $800 million in the fund.
United Nations Secretary-General Antonio Guterres said in a statement that “for the first time, the outcome recognizes the need to transition away from fossil fuels.”
“The era of fossil fuels must end – and it must end with justice and equity,” he said.
The deal doesn’t go so far as to seek a “phase-out” of fossil fuels, which more than 100 nations, like small island states and European nations, had pleaded for. Instead, it calls for “transitioning away from fossil fuels in energy systems, in a just, orderly and equitable manner, accelerating action in this critical decade.”
The deal says that the transition would be done in a way that gets the world to net zero greenhouse gas emissions in 2050 and follows the dictates of climate science. It projects a world peaking its ever-growing carbon pollution by the year 2025 to reach its agreed-upon threshold, but gives wiggle room to individual nations like China to peak later.
Intensive sessions with all sorts of delegates went well into the small hours of Wednesday morning. Then, the United Arab Emirates-led presidency presented delegates from nearly 200 nations a new central document — called the global stocktake — just after sunrise.

It was the third version presented in about two weeks and the word “oil” does not appear anywhere in the 21-page document, but “fossil fuels” appears twice.

 

 



Makkah Gears Up for Ramadan with Tourism Drive, Record Hospitality Growth  

Tourism Minister Ahmed Al-Khateeb and other officials during his inspection tour on Tuesday. (Asharq Al-Awsat)
Tourism Minister Ahmed Al-Khateeb and other officials during his inspection tour on Tuesday. (Asharq Al-Awsat)
TT

Makkah Gears Up for Ramadan with Tourism Drive, Record Hospitality Growth  

Tourism Minister Ahmed Al-Khateeb and other officials during his inspection tour on Tuesday. (Asharq Al-Awsat)
Tourism Minister Ahmed Al-Khateeb and other officials during his inspection tour on Tuesday. (Asharq Al-Awsat)

Saudi Arabia’s Ministry of Tourism has raised the readiness of Makkah’s hospitality sector to its highest level ahead of the holy month of Ramadan, stressing that serving pilgrims and visitors remains a top national priority.

Makkah is preparing to receive worshippers and visitors amid a marked expansion in hospitality capacity. The city now has more than 2,200 licensed accommodation facilities, reflecting growth of 35 percent over the past year. The number of licensed hotel rooms has exceeded 380,000, up 25 percent, while total domestic and inbound tourism spending is projected to surpass SAR 143 billion ($38.1 billion) in 2025.

The wider Makkah region recorded unprecedented performance indicators last year, both in visitor numbers and tourism spending, underscoring sustained growth and operational readiness.

Total domestic and international visitors exceeded 50 million, marking a 14 percent increase compared with 2024.

Tourism Minister Ahmed Al-Khateeb announced the figures during an annual inspection tour on Tuesday, stressing that the indicators reflect a major expansion in accommodation capacity and record growth in visitor numbers.

The tour included inspections of temporary lodging facilities designated for pilgrims, part of a proactive plan to increase capacity during peak seasons, alongside early preparations for the upcoming Hajj.

Vision 2030 targets surpassed

Official data has shown that Saudi Arabia has exceeded its Vision 2030 targets for the Umrah. The number of pilgrims arriving from abroad rose from 8.5 million in 2019 to more than 18 million in 2025, surpassing the original goal of 15 million by 2030.

A number of hotels surrounding the Grand Mosque in Makkah. (General Authority for Awqaf)

Service quality indicators improved as well, with pilgrim satisfaction reaching 94 percent, exceeding Vision 2030 benchmarks.

Workforce development kept pace with demand, as the number of licensed tour guides rose to more than 980, a 23 percent increase.

Masar Mall project

Al-Khateeb announced a joint financing agreement between the Tourism Development Fund and the Arab National Bank with Hamat Holding to support the Masar Mall project. The development carries a total cost of SAR 936 million (about $250 million).

The project is expected to become the largest shopping center in Makkah with the capacity to accommodate around 20 million visitors annually.

Its location near the Haramain High-Speed Railway station and a direct pedestrian link to the Grand Mosque are expected to strengthen the city’s commercial and tourism infrastructure.

Jeddah: Gateway to pilgrims

Meanwhile, Jeddah continues to consolidate its position as a complementary destination to Makkah and a primary gateway for pilgrims, while also expanding its role as a coastal tourism hub.

The city welcomed more than 13 million domestic and international visitors in 2025, a 10 percent increase from 2024. Tourism spending reached SAR 28 billion ($7.47 billion), up 6 percent year on year.

Jeddah’s hospitality sector also expanded, with more than 500 licensed facilities and over 33,000 licensed rooms.

The city is currently developing 46 tourism projects valued at SAR 21 billion ($5.6 billion) and expected to add more than 11,000 hotel rooms and further strengthen its tourism infrastructure and economic value.


ECB President Lagarde Reportedly Plans to Quit Before Macron's Term Ends

FILE PHOTO: European Central Bank (ECB) President Christine Lagarde addresses the press following the ECB's Governing Council meeting, at the ECB headquarters in Frankfurt, Germany, February 5, 2026. REUTERS/Jana Rodenbusch/File Photo
FILE PHOTO: European Central Bank (ECB) President Christine Lagarde addresses the press following the ECB's Governing Council meeting, at the ECB headquarters in Frankfurt, Germany, February 5, 2026. REUTERS/Jana Rodenbusch/File Photo
TT

ECB President Lagarde Reportedly Plans to Quit Before Macron's Term Ends

FILE PHOTO: European Central Bank (ECB) President Christine Lagarde addresses the press following the ECB's Governing Council meeting, at the ECB headquarters in Frankfurt, Germany, February 5, 2026. REUTERS/Jana Rodenbusch/File Photo
FILE PHOTO: European Central Bank (ECB) President Christine Lagarde addresses the press following the ECB's Governing Council meeting, at the ECB headquarters in Frankfurt, Germany, February 5, 2026. REUTERS/Jana Rodenbusch/File Photo

European Central Bank President Christine Lagarde plans to leave her job before next year's French presidential election to allow Emmanuel Macron to have an input into picking her successor, the Financial Times reported on Wednesday.

Lagarde's term is due to end in October 2027 but some fear that the far right may win the French presidential race ‌in the spring of ‌2027, complicating the selection for the ‌new ⁠leader of Europe's most ⁠important financial institution.

Citing a person familiar with the matter, the FT said Lagarde has not yet decided on the exact timing of her departure but was keen on Macron and German Chancellor Friedrich Merz to be the key deciders in who succeeds her. Macron cannot run again for a third term.

"President Lagarde is ⁠totally focused on her mission and has not ‌taken any decision regarding the end ‌of her term," Reuters quoted an ECB spokesperson as saying.

The FT report comes only ‌a week after Bank of France Governor Francois Villeroy de Galhau ‌said he would step down in June this year, more than a year before the end of his term, allowing Macron to name his replacement before the presidential election that the far-right could win.

While it ‌will be up to all leaders from the 21-nation euro zone to pick Lagarde's successor, ⁠past practice ⁠suggests that any successful candidate must have both German and French support to clinch the role.

There are no formal candidates for the job yet but several names have been floating among ECB circles as potential ECB presidents. The most prominent among these are former Dutch central bank chief Klaas Knot and Bank for International Settlements General Manager Pablo Hernandez de Cos.

Lagarde's non-renewable term at the ECB runs until October 31, 2027. Prior to heading the ECB, she was managing director of the International Monetary Fund from 2011 to 2019 and before that, the French finance minister.


UK Inflation Falls to 3.0% in January

Pedestrians cross Westminster Bridge in front of Parliament during the early morning hours in London, Tuesday, Feb. 10, 2026.(AP Photo/Kin Cheung)
Pedestrians cross Westminster Bridge in front of Parliament during the early morning hours in London, Tuesday, Feb. 10, 2026.(AP Photo/Kin Cheung)
TT

UK Inflation Falls to 3.0% in January

Pedestrians cross Westminster Bridge in front of Parliament during the early morning hours in London, Tuesday, Feb. 10, 2026.(AP Photo/Kin Cheung)
Pedestrians cross Westminster Bridge in front of Parliament during the early morning hours in London, Tuesday, Feb. 10, 2026.(AP Photo/Kin Cheung)

Britain's annual ‌rate of consumer price inflation fell to 3.0% in January from 3.4% in December, official figures showed on Wednesday.

A Reuters poll of economists had shown a median forecast of 3.0% in January and the Bank of England projected earlier this month that the headline measure of inflation would slow to ‌2.9%.

British inflation ‌has run higher than in ‌the ⁠United States and in ⁠the euro zone where it stood at 2.4% and 1.7% respectively in January.

But the BoE expects the pace of price rises to slow sharply to almost its 2% target in ⁠April as last year's rises ‌in utility costs and ‌other government-controlled tariffs fall out of ‌the annual comparison.

Investors expect the central bank ‌to cut its benchmark interest rate to 3.5% at its next meeting in March after a tight vote to keep borrowing costs ‌on hold in February although some policymakers remain worried about underlying ⁠inflation ⁠pressure.

Financial markets on Tuesday also priced a second quarter-point interest rate cut by the BoE by the end of in 2026.

ONS data last week painted a downbeat picture of Britain's economy at the end of 2025 with output barely growing. Figures released on Tuesday showed the labor market was still losing jobs although there were some signs of a stabilization.