The Minister of Energy of Spain, Teresa Ribera has warned that talks at the COP28 climate summit will be “demanding” as energy ministers and climate leaders from around the world kick off a conference in Madrid.

Spain, which holds the rotating presidency of the European Union, is pushing for an international coalition to support the Paris Agreement’s (2015) goal of limiting global warming to 1.5 degrees Celsius above its levels pre-industrial era.

At the COP28 conference, countries will assess efforts to tackle climate change that fall short of the Paris Agreement targets and discuss plans to get back on track.

There are five conditions for the upcoming summit to be considered a success, International Energy Agency chief Fatih Birol said.

These include tripling global capital spending on renewable energy, improving energy efficiency and an agreement on mechanisms to support clean energy financing in emerging economies.

Global consumption of coal, oil and natural gas may peak before 2030, he added.

More than 20 oil and gas companies have responded positively to calls to align with the goal of zero emissions by 2050, to eliminate methane emissions and halt their increase by 2030, COP28 President Sultan al-Jaber told the conference. , without expanding.