Is COP28 A Big Cop Out? | Explains - video Dailymotion

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Is the world’s biggest climate summit actually just a trojan horse for fossil fuel companies to make more money? And does COP28 actually change anything? The COP President, selected through the regional group members of the host region, is Sultan al-Jaber, the CEO of the Abu Dhabi National Oil Company. Meanwhile, $700M has been committed to the loss and damage fund in the first day of the conference. Equally important, this is the one stage where activists, Indigenous delegations and the media come face to face in one room with world leaders.  Producer and Host Sophia Li   Editor  Seung Won Baik  Editor-in-Chief Keshia Hannam  Head of Production Stephanie Tangkilisan  Post Production Coordinator Skolastika Lupitawina  Assistant Editor Rendy Abi Pratama  Additional Archival UN Climate Change Sky.com The Intercept KCCU The New York Times The Guardian FRANCE 24 English Bloomberg.com Daily Sabah Visual Capitalist Statista NPR Simpleflying Climate Change News BBC Earth.org Oxfam Instagram: climatereality.indsa, reearthinitiative

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00:00 We're one week in at COP28 in Dubai and the elephant in the room still remains.

00:04 Is the world's biggest climate summit actually just a Trojan horse for fossil fuel companies

00:10 to make more money?

00:12 And does this conference actually change anything?

00:14 Let's get into it.

00:15 This is EST Explains.

00:17 COP is the only summit to bring together all the players to address climate change and

00:22 its consequences.

00:23 The mission everyone's rallying around.

00:25 By 2030, reach net zero to keep the planet no more than 1.5 degrees Celsius warmer so

00:31 we may have a viable future.

00:33 The fastest and most efficient way of doing this is facing out fossil fuels.

00:37 The 1.5 degree limit is only possible if we ultimately stop burning all fossil fuels.

00:44 This year, before the start of the conference, the person appointed as president of COP28

00:48 is Sultan Aljubeir, the CEO of Abu Dhabi's national oil company.

00:53 Huge conflict of interest.

00:55 It's been found that Aljubeir has been using meetings with world leaders to sell more oil

01:01 and gas.

01:02 Just this week, he's been spreading misinformation that there's no science behind fossil fuel

01:07 phase out.

01:08 There is no science out there or no scenario out there that says that the phase out of

01:14 fossil fuel is what's going to achieve 1.5.

01:16 The icy on the cake was when Putin, who rarely leaves Russia, landed in Abu Dhabi this week

01:21 to renegotiate Russia's oil exports with UAE and Saudi Arabia to fund his evasion of Ukraine.

01:27 So yes, we are experiencing almost comical levels of greenwashing by the UAE and sponsors

01:33 who pay to play here.

01:34 On the flip side of the coin, this is the one time of the year for world leaders to

01:38 negotiate climate finance.

01:40 The countries most affected by climate change rely on these negotiations to lock in crucial

01:45 funding from richer countries.

01:47 This is also called loss and damage when wealthy, high polluting countries finally pay what

01:52 they owe to developing nations that have contributed next to nothing in carbon emissions yet bear

01:57 the bulk of climate disasters.

01:59 And for the first time ever, this year, the loss and damage fund was agreed on during the

02:03 first day of COP 28.

02:05 $700 million so far has been committed to the loss and damage fund.

02:09 That sounds like a lot, but it's actually around 0.2% of the irreversible economic and

02:15 non-economic losses developing countries are currently facing.

02:19 As disheartening and infuriating as this is, it just goes to show how negotiations that

02:23 only happen once a year are all the more important.

02:26 And it's quite a rarity where opposition groups like activists, indigenous delegations, and

02:31 the media come face to face in one room with world leaders.

02:34 The global stage here can be one giant oxymoron, but being here, I am reminded of the importance

02:39 of community building.

02:41 There's also so much joy and purpose and community building that re-solidifies why this work

02:45 is pivotal.

02:46 This is a collective, powerful, and historic grassroots movement.

02:50 We refuse to let the colonial powers and fossil fuel companies determine the outcome.

02:55 [MUSIC PLAYING]

Is COP28 A Big Cop Out? | Explains

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