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Wednesday, June 19, 2024

Oil-Rich Countries Dominance at COP28 Negotiations

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The Caspian Times is a platform that showcases stories and perspectives from across Eurasia. We aim to inform, inspire and empower our readers with high-quality journalism that covers the diverse and dynamic region.

At the 28th Conference of the Parties (COP28), the group of oil-rich nations exerted significant influence over the climate negotiations, raising concerns about the efficacy of global efforts to combat climate change.

Reports from the sources within the conference claim that a cartel of oil-producing countries, including major players in the fossil fuel industry, has played a substantial role in shaping the discussions and outcomes of COP28. Critics argue that the influence of these nations gives strong repulsion to the phase-out of fossil fuel and hinders progress toward meaningful climate action.

Environmental advocates and representatives from less economically powerful nations have voiced their concerns, suggesting that the interests of the oil-rich cartel may be divergent from the goals of the Paris Agreement.

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