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COP29 faces credibility crisis amid fossil fuel controversies and absent leaders

COP29, led by president Mukhtar Babayev, faces skepticism as major world leaders absent and allegations of fossil fuel dealings emerge. Health experts warn of climate change's toll, with nearly 7 million premature deaths annually, urging urgent action to protect vulnerable communities. The credibility of the UN climate process is further challenged as Azerbaijan, a petrostate, hosts the talks amid concerns over industry influence and insufficient commitments to reduce emissions.

AI and energy convergence highlighted at global oil and gas summit

This week, 180,000 attendees gathered in Abu Dhabi for ADIPEC, the largest annual event in the oil and gas sector, focusing on the intersection of artificial intelligence and energy. Sultan Al Jaber, CEO of ADNOC, hosted a meeting with leaders from tech and energy sectors, revealing a survey indicating that AI could significantly enhance efficiency and reduce greenhouse-gas emissions in the energy industry.

ubs maintains neutral rating for covestro with target price of 62 euros

UBS AG maintains a "Neutral" rating on Covestro shares with a target price of €62, indicating a potential upside of 6.42% from the current trading price of €58.26. Analyst Geoff Haire noted that the market reaction is expected to be minor, particularly in light of the ongoing takeover by Adnoc. Covestro's share price has risen by 10.6% since the start of 2024, with Q3 2024 results set to be released on October 29, 2024.
09:52 29.10.2024
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