The COP28 climate conference was supposed to conclude on Tuesday, December 12.
However, until now, countries have failed to agree on the final text typically issued annually after the conference, meaning that the conference continues until a consensus is reached on the statement.
The primary reason for the deadlock lies in the disagreement between European countries, the United States, Australia, several nations severely affected by climate change, and oil-exporting countries, i.e., OPEC+, including Saudi Arabia, Iraq, Russia, and others.
Oil-exporting countries have been pressing not to include the issue of fossil fuels, namely oil, gas, and coal, and anything related to reducing oil production in the final text. Meanwhile, other countries are adamant that the final text should include the phrase "phase-out of all fossil fuels," meaning a gradual elimination of fossil fuels in the future.
The United Arab Emirates, hosting the conference, presented a middle-ground formula on Monday: "Reducing the consumption and production of fossil fuels in a fair, organized, and equitable manner to achieve net zero by 2050 or earlier, in line with scientific knowledge."
However, even this formulation has yet to satisfy either party so far.
The UAE seeks to find a formula that will gain countries' consensus as quickly as possible, as the coming hours will be decisive.