COP28 Conference Meet: Highlights of Oil and Gas convection on the globe

The COP28 summit is currently going on, in Dubai, United Arab Emirates. The basic discussions are taking place on fossil fuels energy which are mainly responsible for greenhouse gases emissions. Since the host country is itself associated with leading natural gas and oil companies, it is very obvious that it would be mindful to make any commitment.

These climate conferences are held to take possible pledges by different countries to reduce the emissions to some extent. As oil and gas are fundamental needs of energy mobility which could be rather reduced by assembling together towards this commitment and most importantly steping towards substitution by renewable resources.

About 75% of greenhouse gases come from fossil fuels which forms a major amount of carbon emission and global warming. Many major initiatives have been taken by developing countries to reduce the carbon emission like carbon credit , net zero carbon emissions and kyoto protocol etc.

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This discussion about oil and gas has gained serious limelight with several initiatives aimed at cleaning up the greenhouse gas emissions. Exxon and Saudi Arabia’s Aramco, the world’s largest state owned oil and gas company, led a pledge by almost 50 producers to cut emissions from their own operations. Also, many of the significant groups set a goal of eliminating emissions of methane which is primarily the basic greenhouse gas responsible for carbon addition.

Basically, methane is one of the most toxic gases which releases as a byproduct in industrial raw sector and accounts for almost 80 times more warming effect than carbon dioxide and is typically responsible for 30percent of the current global temperature rises.  

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Al Jaber and the UAE have jointly stepped forward for a global commitment to triple down the renewable energy, followed by 123 signatories. The oil and gas industry is eventually working upon a new technology called carbon capture, which can separate greenhouse gases from fossil fuel emissions. The basic strategies are previously discussed in earlier conferences like the Paris Agreement and Kyoto Protocol which had embarked a historical achievements in attaining low carbon emissions results. 

Second half schedule of the meeting will culminate on 12th December when major points will be highlighted according to different nation’s opinions and their visionary solutions.

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