NRC: Praised climate agreement in Dubai shows the first cracks
Paul Luttikhuis.
From one of our correspondents.
The world reacted with praise to the outcome of the climate summit in Dubai. The carbon price shows that the business community is not very impressed with it. In the meantime, the EU is struggling with the existing plans.
More than a week after the climate summit in Dubai, which was judged to be a success, the first sobering observations follow, writes NRC climate editor Paul Luttikhuis:
The tone of the chord is 'weaker than weak'
At the end of last week, the Financial Times pointed to the falling price of emission allowances. And this week, the European Environment Agency published an analysis showing that it will be quite a challenge for the European Union to meet its 2030 climate and environmental targets.
According to the British business newspaper, the low CO2 price shows that, on the basis of the agreement concluded in Dubai, companies are apparently not very apprehensive about new, major ambitions in climate policy. The tone of the agreement is "weaker than weak," according to Yan Qin, a carbon market analyst at the London Stock Exchange. No one in the business world will lose sleep over "a call" to contribute to the energy transition.
A second important climate target will almost certainly be missed.
https://www.climategate.nl/2023/12/nrc-geprezen-klimaatakkoord-in-dubai-vertoont-de-eerste-scheuren/
