Sultan Al Jaber, chief executive of the UAE’s Abu Dhabi National Oil Company (ADNOC) and president of this year’s COP28 climate summit gestures during an interview as part of the 7th Ministerial on Climate Action (MoCA) in Brussels on July 13, 2023.
Francois Walschaerts | Afp | Getty Images
UAE oil giant ADNOC — run by the president of the COP28 climate conference — is expected to spend more than $1 billion every month this decade on fossil fuels, according to new analysis by international NGO Global Witness.
This is nearly seven times higher than its commitment to decarbonization projects over the same timeframe, the research says.
ADNOC, which recently became the first among its peers to bring forward its net-zero ambition to 2045, disputes Global Witness’ analysis and says the assumptions made are inaccurate.
It comes ahead of the COP28 climate summit, with Dubai set to host the U.N.’s annual conference from Nov. 30 through to Dec. 12. Viewed as one of the most significant climate conferences since 2015’s landmark Paris Agreement, COP28 will see global leaders gather to discuss how to progress in the fight against the climate crisis.
The person overseeing the talks, Sultan al-Jaber, is chief executive of ADNOC (the Abu Dhabi National Oil Company) — one of the world’s largest oil and gas firms. His position as both COP28 president and ADNOC CEO caused dismay among civil society groups and U.S. and EU lawmakers, although several government ministers have since defended his appointment.
Global Witness’ analysis, provided exclusively to CNBC, found that ADNOC is planning to spend an average of $1.14 billion a month on oil and gas production alone between now and 2030 — the same year in which the U.N. says the world must cut emissions by 45% to avoid global catastrophe.
It means that ADNOC is forecast to spend nearly seven times more on fossil fuels through to 2030 than it does on “low-carbon solution” projects.
By 2050, the year in which the U.N. says the entire world economy must achieve net-zero emissions, ADNOC is projected to have invested $387 billion in oil and gas. The burning of fossil fuels is the chief driver of the climate emergency.
A spokesperson at ADNOC told CNBC via email: “The analysis of, and assumptions made, regarding ADNOC’s capital expenditure program beyond the company’s current five-year business plan (2023 to 2027) are speculative and therefore incorrect.”
The Abu Dhabi energy group announced in January this year that it would allocate $15 billion for investment in “low-carbon solutions” by 2030, including investments in clean power, carbon capture and storage and electrification projects.
High-rise tower buildings along the central Sheikh Zayed Road in Dubai on July 3, 2023.
Karim Sahib | Afp | Getty Images
Global Witness arrived at its projections by analyzing ADNOC’s forecasted oil and gas capital expenditure, exploratory capital expenditure and operational expenditure for the period from 2023 to 2050. The data was sourced from Rystad Energy’s UCube database.
Rystad’s data is not available to the public, but is widely used and referenced by major oil and gas companies and international bodies.
“Fossil fuels companies like to burnish their green credentials, yet they rarely say the quiet part out loud: that they continue to throw eyewatering amounts at the same old polluting oil and gas that is accelerating the climate crisis,” said Patrick Galey, senior investigator at Global Witness.
“How [al-Jaber] can expect to lecture other nations on the need to decarbonise and be taken seriously is anyone’s guess, while he continues to provide vastly more funding to oil and gas than to renewable alternatives,” he added.
“He is a fossil fuel boss, plain and simple, saying one thing while his company does the other,” Galey said.
The United Nations Framework Convention on Climate Change did not immediately respond to a request for comment on the analysis conducted by Global Witness. The Conference of the Parties (COP) is the supreme decision-making body of the UNFCCC.
Main priority for COP28
Al-Jaber was the founding CEO of Abu Dhabi state-owned renewable energy firm Masdar, which works in more than 40 countries worldwide and has invested in or committed to invest in renewable energy projects with a total value of over $30 billion.
Speaking earlier this year, al-Jaber said the main priority for the COP28 summit will be to keep alive the fight to limit global heating to 1.5 degrees Celsius.
The Paris Agreement aims to limit the increase in the global average temperature to “well below” 2 degrees Celsius above pre-industrial levels and to pursue efforts to limit global heating to 1.5 degrees Celsius. Beyond the critical temperature threshold of 1.5 degrees Celsius, it becomes more likely that small changes can trigger dramatic shifts in Earth’s entire life support system.
The International Energy Agency says no new oil, gas or coal development is compatible with the goal of curbing global heating to 1.5 degrees Celsius.
In response to a request for comment from CNBC, an ADNOC spokesperson said that energy demand is increasing as the world’s population is expanding. “All of the current energy transition scenarios, including by the IEA, show that some level of oil and gas will be needed into the future,” the spokesperson said.
“As such, it is important that, in addition to accelerating investments in renewables and lower carbon energy solutions, we consider the least carbon intensive sources of oil and gas and further reduce their intensity to enable a fair, equitable, orderly, and responsible energy transition. This is the approach ADNOC is taking,” they added.
The spokesperson said its 2022 upstream emissions data confirmed the energy group as one of the least carbon-intensive producers worldwide. The company will seek to further reduce its carbon intensity by 25% and target near zero methane emissions by 2030, they added.
“As we reduce our emissions, we are also ramping up investments in renewables and zero carbon energies like hydrogen for our customers,” the spokesperson said.
A separate report published in April last year by Global Witness and Oil Change International found that 20 of the world’s biggest oil and gas companies were projected to spend $932 billion by the end of the decade to develop new oil and gas fields.
At that time, Russian state company Gazprom was estimated to spend the most on fossil fuel development and exploration projects through to 2030 ($139 billion), followed by U.S. oil majors ExxonMobil ($84 billion) and Chevron ($67 billion).
DJI may be best known for drones, but the company just launched a ground-based product that has the power to keep all your tech airborne – and then some. The new DJI Power 2000 is a 2,048 Wh portable power station with a 3,000 W output that quietly muscles its way into the heavy-hitter end of the mobile power world. I’ve been testing it for the past week in a wide range of scenarios – from charging up my electric tractor in the field to power my family’s chest freezer. And of course smaller jobs like charging up my phone and drone are easy jobs too. From my experience so far, I can tell you that this thing delivers.
But before I get into all the praise, let me get my one gripe out of the way early: You can’t use the DJI Power 2000 until you pair it with the DJI Home app.
That step alone doesn’t take long, but I’m not a fan of products that require a phone connection to get started.
When I take a power station out of the box, I want to push a button and see juice, not start pairing like I’m connecting Bluetooth earbuds.
Advertisement – scroll for more content
With that said, once it’s set up, the Power 2000 makes a compelling case as the go-to portable power station for everything from remote camping to emergency home use.
It’s quiet. It’s fast. It’s powerful. And it might be one of the most rugged unit I’ve tested – which is a LOT of power stations by this point.
You can definitely tell that it’s built solidly, and I really like the 1/4-20 threaded inserts on the sides for mounting accessories – either those from DJI or others that I could possibly dream up.
Easily charging my KANDI Innovator electric UTV
Big power, fast charging
Let’s start with the headline numbers: 2,048 watt-hours of capacity and a continuous 3,000W output. That’s enough to run nearly any household appliance, including a microwave, power tools, or even charging up my electric UTV.
When I plugged in my Kandi UTV, the DJI Power 2000 didn’t even flinch. This would be a great way to recharge in the field if you ever accidentally ran low on power in the field. To put it in slightly outdated terms, it’s the equivalent of a little red gasoline can, but in the electric era.
As another “charging out in the field” test, I tried it out with my NESHER L880 electric loader. You shouldn’t ever run out of charge in an electric tractor as long as you’re watching your battery meter – but if you ever did, this would be a convenient way to get some charge back into it to drive home.
And as an added bonus, the NESHER L880’s loader bucket makes a great way to carry the fairly heavy power station around in the pasture.
It works great to charge my NESHER L880 electric loader out in the pasture
For ports, the unit features four AC outlets, four USB-A ports, and four USB-C ports (two at 140W and two at 65W), plus dedicated SDC drone ports and a DC car outlet. I also used it to power my chest freezer for a test – it ran smoothly for hours, simulating a blackout scenario where this could genuinely save hundreds of dollars in spoiled food.
Charging the Power 2000 itself is no slouch, either. DJI claims it can go from 0 to 100% in 90 minutes from a standard wall outlet, and my tests confirmed it. I clocked just under an hour to nearly 80%, which is pretty impressive for a battery this size. It also supports car charging and solar input – dual 1.8 kW fast charging if you have the right panels and setup.
Quiet, durable, and smart
What impressed me most beyond the specs was how thoughtfully rugged the Power 2000 is. It uses LFP battery cells (my favorite for safety and longevity), is built with flame-retardant materials, and can allegedly support up to one ton of static weight. While I didn’t park a car on it, I did load it into the back of my electric UTV and bounce it down a dirt trail and across many acres of pasture land. It kept powering devices without interruption, despite getting a decent workout and tossed around quite a bit.
DJI claims that the unit includes 26 built-in temperature sensors that provide constant real-time monitoring, along with 21 fuses to handle any operation abnormality. Those seem like weirdly high numbers, but sure, why not?
DJI also offers a Zignes 100W solar panel and a solar panel adapter, which I tested out for a solar charging setup. It’s not enough to fully recharge the unit quickly on its own, but it’s a nice bonus for trickle charging during daylight hours or topping off mid-campout. And of course you can bundle more solar panels to double or triple the charging power via DJI’s adapter, which can also mount to the side of the unit with the built-in threaded inserts in the side of the power station.
Solar charging feels like a cheat code!
Drone-friendly by design
As expected from DJI, there’s native support for their drone ecosystem. It’s a nice touch that makes this more than just a generic battery box – it’s clearly built for creators and drone operators in mind.
The system works to rapid charge DJI drones including the Air 3, Mavic 3, Inspire 3, and Matrice series. Of course I’ve got the one that doesn’t work: the Mini series. But that’s ok, since I was still able to charge it and the controller directly from the USB-C ports on the power station.
If the power goes out and you don’t want your chest freezer to thaw, the DJI Power 2000 can come to the rescue
Final Thoughts
At $1,299, the DJI Power 2000 isn’t the cheapest battery in town, but for the performance, safety, and sheer ruggedness it delivers, the price seems quite fair compared to other units in the market that don’t feel as well put together. This isn’t just a big battery in a plastic shell. It’s an industrial-grade power station built to handle your wildest overlanding trips, blackouts, and gear-charging needs with ease.
Would I recommend it? Absolutely. But I’d recommend DJI also rethink requiring an app just to get started. The Power 2000 deserves to shine on its own, right out of the box.
FTC: We use income earning auto affiliate links.More.
Mercedes-Benz continues to demonstrate the capabilities of its future lineup of all-electric vans and multi-purpose vehicles (MPVs), all atop its new 800V Van Architecture. Most recently, Mercedes drove two test versions of its VLE MPVs nearly 1,100 kilometers, from Germany to Rome, Italy.
While Mercedes-Benz remains a leading provider of vans, that is one of the few vehicle segments it has truly electrified. At least, not yet. Beginning in 2026, Mercedes intends to begin launching a new series of all-electric, ultra-efficient vans and multi-purpose vehicles on its new Van Electric Architecture (VAN.EA).
VAN.EA was unveiled in 2023 as a new 800-volt purpose-built EV architecture that will support both mid and large vans. These new models will feature 4MATIC AWD, significantly expanding driving range and ensuring the BEVs “meet the highest standards regardless of weather conditions.”
In the fall of 2024, we first looked at early camouflaged prototypes testing on public roads. One model, originally codenamed the VAN.EA-P has completed winter testing in Sweden and has since been renamed the VLE by Mercedes.
Advertisement – scroll for more content
The VLE and a second all-electric model called the VLS will be the first two Mercedes vehicles to hit the market atop the new Van Electric Architecture. Still, before then, the German automaker took two test models of the former through the Alps to Rome, only stopping to charge twice along the way.
Source: Mercedes-Benz
Mercedes’ VLE demonstrates efficiency through EU
According to Mercedes-Benz, two VLE electric van test models recently completed a real-world trip from Stuttgart to Rome, covering 1,090 kilometers (677 miles) and traversing steep, winding mountain passes in the Alps.
The trip lasted approximately 13 hours and faced steady traffic. It began at Mercedes HQ in Stuttgart, Germany, where temperatures were 52°F, and ended in Rome, where temperatures were significantly higher at 91°F. Despite the long route and weather changes, Mercedes said the cabin temperature of each VLE remained comfortable at 72°F.
During the nearly 1,110-kilometer journey, Mercedes says the VLE vans only stopped to charge twice, completing sessions around 15 minutes each time. By completing the journey, Mercedes-Benz says it has confirmed the VLE is ready for real-world use and will bring space and efficiency to families and adventure seekers alike. Per Dr. Andreas Zygan, Head of Development Mercedes-Benz Vans, Mercedes-Benz AG:
Our future MPVs have once again impressively demonstrated their suitability for everyday use on the long-distance route. With just two short charging stops from Stuttgart to the Alps to Rome – the Mercedes-Benz VLE demonstrates impressive efficiency of the new Van Electric Architecture.
Mercedes said it will continue to test the VLE and its Van Electric Architecture in Stuttgart and in real-world environments en route to product launches in 2026 as promised. As mentioned before, two of those initial models have now been confirmed with the names “Mercedes-Benz VLE” and the “Mercedes-Benz VLS.”
The VLE can accommodate up to 8 seats and serves a multitude of purposes, from family-friendly transport to exclusive VIP shuttles. Like the VLE, Mercedes is hailing the VLS as a “Grand Limousine” that will “define a unique segment of its own that bestows true greatness to automotive luxury.”
Better yet, Mercedes says it will offer these all-electric MPVs or Grand Limousines for the first time in the US, Canada, and China. As we move closer to 2026, we expect to see more of the VLE and VLS inside and out, and learn more about the performance specifications and pricing Mercedes intends to deliver. Stay tuned.
FTC: We use income earning auto affiliate links.More.
As it struggles to sell EVs in the US, Toyota is resorting to bigger, gas-powered SUVs. That new Toyota electric SUV we are still waiting on? It’s delayed again, but there’s more to it.
Toyota pushes to sell gas SUVs as EV sales slump
Toyota sold 1,223 models of the bZ4X, its sole electric SUV in the US, last month. That’s less than the nearly 1,400 it sold in June 2024 despite upgrading it for the 2025 model year.
Through the first half of 2025, Toyota has sold 9,249 bZ4X models in the US, down from the nearly 9,500 sold in the same period last year.
Its luxury Lexus brand is also struggling to sell its electric SUV, the RZ. Last month, Lexus RZ sales fell 30% to just 763 units. Through the first half of 2025, RZ sales are down by a third (-33%), with just 3,779 units sold.
Advertisement – scroll for more content
As the struggles continue, Toyota is now delaying more EV models as it shifts its focus back to gas-powered SUVs.
Toyota plans to begin producing a new electric SUV at its Kentucky plant in 2028, a year later than initially expected. The new EV was scheduled to be built at the automaker’s Princeton, Indiana, facility, following an additional $1.4 billion investment made last April.
2026 Toyota bZ electric SUV (Source: Toyota)
According to AutoNews, the sudden shift is to free up capacity for its massive gas-powered Grand Highlander SUV.
Toyota is consolidating EV production and will build the new EV in Kentucky alongside a separate three-row electric SUV. The larger electric SUV is set for production in late 2026, rather than earlier in the year as initially planned.
2026 Toyota C-HR electric SUV (Source: Toyota)
“As previously announced, Toyota plans to produce two all-new, three-row battery electric SUVs in the US. Toyota will now assemble both vehicles at Toyota Kentucky,” Toyota said in a statement.
Toyota will ramp up production of the Grand Highlander in Indiana with a new dedicated assembly line. Through the first half of 2025, Toyota Grand Highlander sales are 20% with over 65,000 units sold.
2026 Toyota Woodland electric SUV (Source: Toyota)
Despite the delay, Toyota is still planning to launch seven new EVs in the US by mid-2027, including under the Lexus brand.
Later this year, Toyota will introduce the new bZ electric SUV (an upgraded bZ4X) with more driving range and an added NACS port to charge at Tesla Superchargers.
The smaller Toyota C-HR and rugged bZ Woodland electric SUVs are expected to arrive sometime next year.
FTC: We use income earning auto affiliate links.More.