The COP president dismisses calls to phase out fossil fuels, claiming there is no scientific basis for such demands. However, it is concerning that the conference has become a platform for oil trading, with a record number of fossil fuel lobbyists attending. The oil majors have previously advocated for a carbon tax on companies’ CO2 emissions, suggesting a two-step approach involving global implementation and international agreement. Implementing a carbon tax globally is challenging due to the need for international coordination, as carbon leakage could occur if not all countries participate.
Source: From the Paris agreement to COP28, how oil and gas giants try to influence the global climate agenda
