COP28 Reaches Deal to Transition Away From Fossil Fuels

Representatives from nearly 200 countries agreed at the COP28 climate summit on Wednesday to begin reducing global consumption of fossil fuels.

By Inc.Arabia Staff
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The curtains closed on the 28th session of the United Nations Climate Change Conference (COP 28) with the global community striking a deal[1] to move away from fossil fuels to prevent the worst effects of climate change.

The agreement did not go as far as calling for a “phase-out” of fossil fuels as more than 100 countries, had called for.

But the deal, which required a global consensus to be passed, called for a “transition away” from fossil fuels and said it should take place “in this critical decade” – by 2030.

The deal was met by applause, and cheering from the audience, as well as relief after heated debates that were not very promising yesterday. 

An updated proposal published by the UAE earlier on Wednesday, which was agreed on after all-night discussions, called for a “transitioning away from fossil fuels in energy systems, in a just, orderly and equitable manner, accelerating action in this critical decade, so as to achieve net zero by 2050 in keeping with the science.”

Read More: What to Expect at COP28 and Who is Attending?

The president of COP28 Sultan al-Jaber praised the agreement reached by almost 200 nations on Wednesday, calling it a historic package of policies that provided a robust plan to maintain the 1.5C objective within reach.

After two weeks of intense discussions, a deal was reached in Dubai that was intended to send a strong message to investors and decision-makers that the world is now united in its desire to move away from fossil fuels, which scientists believe is the last best hope to prevent a global warming disaster.

The Saudi Arabia-led organization of oil producers, known as OPEC, strongly resisted[2] the efforts of more than 100 countries to include strong wording in the COP28 accord that would phase out the use of oil, gas, and coal, arguing that global emissions could be reduced without banning any particular fuel.

Along with intensifying efforts to cut coal use and developing technology like carbon capture and storage that help clean up difficult-to-decarbonize industries, the deal also calls for a tripling of renewable energy capacity worldwide by 2030.

Chairman of the World Green Economy Organization (WGEO) Saeed Mohammed Al Tayer also declared[3] that 86 countries have officially joined the Global Alliance on Green Economy (GAGE).

The Global Alliance on Green Economy was launched at the ministerial meeting during the World Green Economy Summit 2022.

It aims to foster international collaboration amidst escalating climate pressures and the increasing need for unified efforts across nations.

The stark reality of global economic policies and strategies potentially leading to a 2.8-degree Celsius temperature increase by the end of the century has fueled a renewed sense of urgency.

Delegates highlighted the imperative to align climate planning and financing with the objectives of the Paris Agreement and the United Nations 2030 Agenda for Sustainable Development.

Recognizing that addressing climate change requires a united front, COP28 witnessed a commitment to strengthening international cooperation.

Delegates emphasized the necessity of close partnerships between nations and stakeholders globally.

The conference underscored the importance of adopting new approaches and more efficient work mechanisms to ensure the success of global climate endeavors.

Attendees also stressed the need for alignment and linkage between these aspects to achieve the goals outlined in international agreements. This integrated approach is seen as critical in advancing the objectives of the Paris Agreement and the UN 2030 Agenda.

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