COP28 oil company to spend $1 bn a month on fossil fuels this decade despite ‘green’ claims

COP28 oil company to spend $1 bn a month on fossil fuels this decade despite ‘green’ claims

LONDON 4th September, 2023 – The oil and gas firm ran by the president of COP28 climate talks is set to spend more than $1 billion every month this decade on fossil fuels, despite its claims to be a leading green energy provider, Global Witness analysis has found.  

The Abu Dhabi National Oil Company (ADNOC) announced in January this year that it was earmarking $15 billion for investment in “low-carbon solutions” by 2030.  A week later its CEO Sultan al-Jaber was unveiled as COP28 president, a move that caused dismay among climate organisations and US and EU lawmakers.  

Read more: globalwitness.org

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