Cop28 host UAE has world’s biggest climate-busting oil plans, data indicates

The researchers behind the new data said Adnoc’s huge planned expansion of oil and gas production is a clear conflict of interest and that his position is “ridiculous”.

At Cop28, nations will attempt to agree to cut fossil fuel use and triple renewable energy. The summit comes at the end of a year in which global temperatures have soared, intense impacts of extreme weather have wrecked lives and there have been repeated warnings that the world already has plans to exploit far more fossil fuel reserves than can safely be burned.

The data is from the Global Oil and Gas Exit List (Gogel), a public database detailing the activities of more than 1,600 companies representing 95% of global production. 

The data shows that almost all companies are ignoring warnings from climate scientists that new oil and gas fields cannot be developed if global temperature rise is to be kept to the internationally agreed 1.5C limit. 

It also shows that:

• $140bn has been spent by the industry on exploration for new oil and gas reserves since 2021;
• 96% of the 700 companies that explore or develop new oil and gas fields are continuing to do so;
• More than 1,000 companies are planning new gas pipelines, gas-fired power plants or liquified natural gas (LNG) export terminals.

The UN warned last week that fossil fuel producers were planning expansions that would blow the planet’s carbon budget twice over. Experts called the plans “insanity” and said they “throw humanity’s future into question”. 

A long series of scientific studies has concluded that most existing oil, gas and coal reserves need to remain in the ground to tackle the climate emergency but major fossil fuel companies and petrostates have yet to stop exploring for more.

“The magnitude of the industry’s expansion plans is truly frightening,” said Nils Bartsch, head of oil and gas research at the NGO Urgewald, which produces Gogel along with partners. 

“To keep 1.5C alive, a speedy, managed decline in oil and gas production is vital. Instead, oil and gas companies are building a bridge to climate chaos.” 

Bartsch criticised the dual role of Al Jaber. “I think it’s ridiculous. I’m not sure how a person that’s responsible for this kind of oil and gas expansion is fit to lead the climate negotiations. It is the most obvious conflict of interest there can be."

An Adnoc spokesperson said: “The data and assumptions in this report about Adnoc are incorrect and misleading.” 

The company did not provide its own figure for its planned expansion of oil and gas production.

The spokesperson also said Adnoc "produces some of the world’s least carbon-intensive oil and gas". 

Al Jaber is also the chair of the UAE’s renewables company Masdar and is the nation’s climate envoy. His appointment to run Cop28 has been criticised by politicians and campaigners. 

Some figures have supported him, including the US climate envoy, John Kerry, and Al Jaber has said his knowledge of the energy business is an advantage. The Cop28 office did not respond to a request for comment.

 - The Guardian