• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

2

Nvidia CEO Jensen Huang admits he criticizes everything his 42,000-plus employees show him: ‘You can’t go a day without some criticism’

3

Current price of oil as of May 27, 2026

1

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

2

Nvidia CEO Jensen Huang admits he criticizes everything his 42,000-plus employees show him: ‘You can’t go a day without some criticism’

3

Current price of oil as of May 27, 2026
Environmentclimate change
Asia

Climate activist Al Gore blasts COP28 outcome as biggest failure in history—it ‘reads as if OPEC dictated it word for word’

Christiaan Hetzner
By
Christiaan Hetzner
Christiaan Hetzner
Senior Reporter
Down Arrow Button Icon
Christiaan Hetzner
By
Christiaan Hetzner
Christiaan Hetzner
Senior Reporter
Down Arrow Button Icon
December 12, 2023, 8:27 AM ET
Former US vice president and climate campaigner Al Gore
Former U.S. vice president Al Gore fears time may have run out on the world's climate ambitions.Paul Ellis—AFP via Getty Images

Al Gore warned the Paris agreement’s goal of limiting global warming to 1.5 degrees centigrade could die now that world leaders failed to agree on phasing out fossil fuels.

The 28th U.N. climate change summit known as COP, held this year in Dubai, is set to conclude on Tuesday with a draft agreement that will have been written by and for the petrostates, according to the former U.S. vice president. 

“This obsequious draft reads as if OPEC dictated it word for word,” he wrote on Monday.

Long before Greta Thunberg ever went on school strike and crystallized Gen Z’s fears over the warming planet they will inherit, Gore had been raising awareness as an advocate, including through his 2006 Oscar-winning documentary An Inconvenient Truth.

COP28 is now on the verge of complete failure. The world desperately needs to phase out fossil fuels as quickly as possible, but this obsequious draft reads as if OPEC dictated it word for word. It is even worse than many had feared. It is “Of the Petrostates, By the Petrostates…

— Al Gore (@algore) December 11, 2023

Thanks to the COP21 declaration in Paris, the world agreed eight years ago on the long-term target to limit global warming to 1.5 degrees over pre-industrial levels. The European Union has even written this into its legislation, allowing citizens to litigate against companies and countries that fail to comply.

While COP has since grown in importance to become a major event in the global calendar, critics fear it has also subsequently become more and more a soapbox for greenwashing riddled with special interests. Supporters agree it is not perfect, but it remains the only dedicated forum for dialogue.

“In order to prevent COP28 from being the most embarrassing and dismal failure in 28 years of international climate negotiations, the final text must include clear language on phasing out fossil fuels,” Gore continued. “Anything else is a massive step backwards from where the world needs to be to truly address the climate crisis and make sure the 1.5° C goal doesn’t die in Dubai.”

Committing to their phase-out has proven to be too contentious an issue, however. Instead, oil-dependent countries like COP28 host the United Arab Emirates (UAE) argue technology is under development that would enable economies to capture emissions from burning fossil fuels and safely store them. Carbon sequestering, also known as CCS, remains in its infancy, however, and has never proven itself commercially as a cost-effective solution at scale.

Like defense companies dominating a peace conference

Belgian scientist Jean-Pascal van Ypersele, a former vice-chair of the Intergovernmental Panel on Climate Change, subsequently branded COP28 a “monument of schizophrenia” full of talk and no action. He pointed to a text that included 115 mentions where policymakers acknowledge the numerous risks but only five that reference concrete decisions to prevent them.

My reaction to the latest #COP28 draft Global Stocktake text:

The text is a monument of schizophrenia: It first acknowledges, recognises, or notes the numerous and gigantic gaps between what is needed and what has been delivered up to now.
Those gaps are in every sector:…

— Prof. Jean-Pascal van Ypersele (@Mastodon.World) (@JPvanYpersele) December 11, 2023

“The prescribed treatment is a mixture of wishful thinking and magic,” van Ypersele said.

COP28 host UAE has itself come under fire for installing Sultan al Jaber, the CEO of the country’s petroleum giant ADNOC, as the president of this year’s summit. This cozy relationship with the fossil fuel industry will likely change little with next year’s summit, scheduled to be held in Azerbaijan’s capital of Baku, a city on the Caspian Sea rich in oil and natural gas reserves.

The failure in Dubai highlights how economic damage wrought by a once-in-a-century pandemic, a war in Ukraine, and the resulting bout of high inflation have all combined to sap political will on the subject. Other issues like uncontrolled migration dominate the headlines once more. 

As a result, next year’s COP29 in Baku could be held against the backdrop of Donald Trump’s reelection. The former President is himself an avowed climate change denier who has branded the issue a hoax, opposed renewable energy from offshore wind because it supposedly causes whales to go crazy, and briefly succeeded in pulling the U.S. out of the Paris agreement.

Gore’s disappointment was shared by British climate activist George Monbiot, who condemned COP28 as a summit already hijacked by lobbyists from fossil fuel and livestock producers. Writing in the Guardian, he said vested-interest attendees outnumbered those of government delegations in almost all cases.

“It’s like allowing weapons manufacturers to dominate a peace conference,” he argued on Saturday.

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter will deliver clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Author
Christiaan Hetzner
By Christiaan HetznerSenior Reporter
Instagram iconLinkedIn iconTwitter icon

Christiaan Hetzner is a former writer for Fortune, where he covered Europe’s changing business landscape.

See full bioRight Arrow Button Icon

Latest in Environment

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Environment

Asia is already grappling with a fuel crisis. A ‘Super El Nino’ threatens to make things worse
Environmentclimate change
Asia is already grappling with a fuel crisis. A ‘Super El Nino’ threatens to make things worse
By Angelica AngMay 28, 2026
5 hours ago
r
Environmentwater use and conservation
The river that supplies 40 million Americans is down to 23% — and about to make a $25 million bet on one fish
By Dorany Pineda, Brittany Peterson and The Associated PressMay 27, 2026
21 hours ago
a
EnergyCorporate Governance
BP ousts chairman months into his tenure, citing ‘important governance standards, oversight and conduct’ concerns
By Michelle Chapman and The Associated PressMay 26, 2026
2 days ago
As the U.S. and Europe pull back from global climate aid, can Asian funders fill the gap?
Asiaphilanthropy
As the U.S. and Europe pull back from global climate aid, can Asian funders fill the gap?
By Angelica AngMay 25, 2026
3 days ago
g
North Americawater use and conservation
America’s largest oil export hub is so starved of water that it’s been illegal to have a green lawn for 2 years
By Michelle Hummel and The ConversationMay 25, 2026
3 days ago
g
EnvironmentLaw
You can’t repair your tractor because Hollywood was terrified of the VCR
By Oana Godeanu-Kenworthy and The ConversationMay 25, 2026
3 days ago

Most Popular

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
Success
Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
By Preston ForeMay 21, 2026
7 days ago
Nvidia CEO Jensen Huang admits he criticizes everything his 42,000-plus employees show him: ‘You can’t go a day without some criticism’
Success
Nvidia CEO Jensen Huang admits he criticizes everything his 42,000-plus employees show him: ‘You can’t go a day without some criticism’
By Preston ForeMay 26, 2026
2 days ago
Current price of oil as of May 27, 2026
Personal Finance
Current price of oil as of May 27, 2026
By Joseph HostetlerMay 27, 2026
23 hours ago
Techlash grows in education: 'My daughter went to middle school and was sent home with a screen addiction in her backpack'
North America
Techlash grows in education: 'My daughter went to middle school and was sent home with a screen addiction in her backpack'
By Jocelyn Gecker and The Associated PressMay 26, 2026
2 days ago
Jamie Dimon said the American Dream was slipping away. JPMorgan just put $40 million on the table to fix it
Banking
Jamie Dimon said the American Dream was slipping away. JPMorgan just put $40 million on the table to fix it
By Nick LichtenbergMay 27, 2026
23 hours ago
Even if every California billionaire left tomorrow, it would take 25 years for the state to lose as much as it stands to gain from proposed wealth tax
Economy
Even if every California billionaire left tomorrow, it would take 25 years for the state to lose as much as it stands to gain from proposed wealth tax
By Tristan BoveMay 27, 2026
19 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.