COP28

With the ink barely dry on the COP28 agreement to transition away from fossil fuels, U.K.-based oil major BP plc (NYSE:BP) was called on by an activist investor to drop its commitments to clean energy production. Bluebell Capital Partners, a London-based hedge fund with a small stake in BP, wrote...

Crude oil prices were trading under pressure on Wednesday after the COP28 climate summit ended with a historic agreement to shift away from fossil fuels and increase commitments to renewable energy sources. Nymex WTI, the U.S. benchmark crude futures contract, was trading flat at $68.72 a barrel in...

The COP28 Presidency released a proposed climate deal text on Wednesday, emphasizing a significant shift from fossil fuels to combat climate change. What Happened: Reuters reports that this development marks a first in the COP summit’s three-decade history, proposing “transitioning...

The draft text of the COP28 climate deal has sparked outrage globally due to its failure to address the phasing out of fossil fuels. Key stakeholders at the summit, which is being held in Dubai, have expressed their disappointment and concern. What Happened: A CNBC reported that the draft proposal...

On Monday, a 12-year-old Indian climate activist, Licypriya Kangujam, made headlines as she took to the stage of the COP28 summit in Dubai, demanding an end to the use of fossil fuels. What Happened: As reported by Reuters, Kangujam interrupted the climate summit carrying a sign that read, ...

Solar energy is poised for a record year in 2023, but stocks in the sector are broadly lower this year as interest rates were hiked to a 16-year peak. Data from the Solar Energy Industries Association (SEIA) on Thursday reported the U.S. solar industry added 6.5 gigawatts of new generating capacity...

Global oil prices fell on Monday after COP28 president Sultan Al Jaber hit back at criticisms of comments he made before the climate summit about scientific evidence of the need to phase down the use of fossil fuels. In an online event in November, Al Jaber had reportedly remarked there was “...

The launch of COP28 on Thursday is the latest glimpse at the ongoing effort to decarbonize the global economy. Whether its goal is to be a force for good or, as the BBC recently revealed, serve "as an opportunity to strike oil and gas deals" remains unclear. Either way, the so-called “...