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Backchannel Oil Deals Revealed in U.N. Climate Talks

Photo Credit: AP Photo / Martin Meissner / Guliver image

In a perfect storm of hilarity and overt irony, it appears that the United Arab Emirates planned to use the 2023 COP28 summit on climate talks to facilitate backchannel oil and gas deals. The COP28, or Conference of the Parties, is the 28th United Nations Climate Change Conference. Commencing today until December 12th, the forum is being hosted by the UAE in Dubai and is due to be attended by 167 world leaders, including the Pope and King Charles III.

The documents — obtained by independent journalists at the Centre for Climate Reporting working alongside the BBC — show detailed suggestions to offer new oil and gas projects to visiting officials, which would benefit the UAE.

These briefing documents were prepared for Dr. Jaber, host of the COP28, who is also CEO of the UAE’s giant state oil company, Adnoc, and of the state’s renewable business, Masdar. One specific document shows talking points requesting the Brazilian environment minister be asked for help “securing alignment and endorsement” for Adnoc’s bid for Latin America’s largest oil and gas processing company, Braskem. Earlier this month, Adnoc made a $2.1 Bn (£1.7 Bn) offer to buy a key stake.

Al Jaber, his office, and the UAE have become the target of massive worldwide censure, for appointing its top oil executive to preside over the talks, which begin today and are expected to address ways to ramp down fossil fuel use.

Dr. Al Jaber, COP President, stated, “These allegations are false, not true, incorrect, and not accurate,” at a press conference in Dubai on Wednesday, when asked for comment by a reporter. He added, “and it’s an attempt to undermine the work of the COP28 presidency.”