UAE Oil Giant ADNOC, led by the president of COP28 climate conference, is projected to spend over $1 billion per month on fossil fuels this decade, according to Global Witness. This is almost seven times more than its commitment to decarbonization projects. ADNOC disputes the analysis, claiming it is inaccurate. The COP28 climate summit, set to take place in Dubai, has faced criticism for having ADNOC's CEO as its president. Global Witness found that ADNOC plans to spend an average of $1.14 billion per month on oil and gas production alone until 2030, significantly more than on low-carbon projects.

The post Oil Giant Led by COP28 boss to spend an ‘eyewatering’ $1 billion a month on fossil fuels this decade, Global Witness says appeared first on Balanced News Summary.