have lots of calls on their cash. they don t want to sign up to an open ended commitment that could end up costing hundreds of billions of dollars. the us climate envoy, john kerry, told the bbc the world s focus should remain on trying to cut emissions to minimise future climate change. we have an enormous challenge ahead of us to stop the damage from happening, and lots of countries are contributing to that damage today, including in the developing world. so we have to move faster to get off of coal. we have to move faster to reduce fossil fuel consumption. so there is real potential for conflict and disagreement at the conference. the last cop ended on a high note, with ambitious pledges from many nations. this year is about implementing those pledges, and that is a much more ambitious task.
we have an enormous challenge ahead of us to stop the damage from happening, and lots of countries are contributing to that damage today, including in the developing world. so we have to move faster to get off coal. we have to move faster to reduce fossil fuel consumption. so there is real potential for conflict and disagreement at the conference. the last cop ended on a high note, with ambitious pledges from many nations. this year is about implementing those pledges, and that is a much more ambitious task. in short, don t expect any big breakthroughs in egypt. justin rowlatt, bbc news. matt mcgrath is at the cop27 summit with the latest. i asked him for the latest developments. .- i asked him for the latest develoments. . . i asked him for the latest develoments. . u, . ., developments. . the conference have ado ted an developments. . the conference have adopted an agenda developments. . the conference have
the director at the university of iceland has witnessed the retreat up close. about 14 years ago i started to do repeat photography at one of the glaciers here. and i went once a month for eight years. it s like visiting an old friend. there s a sense of familiarity. we have about 20 outlet glaciers that come down from the ice cap. all of them have receded. he is part of a team documenting the glacier retreat over laying archive photos with current-day drone footage reveals the dramatic change in the landscape. rising global temperatures driven by rampant fossil fuel consumption left some experts warning the glacials in iceland are at risk of disappearing
have to deal with the system we have now and fuel as we need. but ultimately, they should fuel us and pushes toward the energy transition that we know we need. yeah, i think the danger i see here, when you see some of the things that are being called for by industry particularly, which is like, oh, we ve got to get rid of regulatory hurdles and they are like, oh, let s drill more. you get lock in, then, basically. the things you do in short term crises produce lock in to more fossil fuel production, to more fossil fuel consumption and higher levels of carbon emissions, even though that s literally the opposite of what we need right now. there is some truth to that. i mean, we do not want to build a lot of reliance on fossil fuel infrastructure when oil is actually being phased out. but again, it s going to take a while to phase it out. we cannot just sort of phase it out entirely in favor of a new energy system. and now investors need to understand that some of those fossil systems
CBIC chairman Vivek Johri anticipates the central government’s indirect tax revenue sources to undergo a shift, with green mobility picking up and fossil fuel consumption declining over time.