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Historic turn at the COP28 climate summit, the agreement on the transition from fossil fuels is reached

2023-12-13 13:18:15Biznes SHKRUAR NGA REDAKSIA VOX

Government ministers representing nearly 200 countries reached an agreement calling for a transition away from fossil fuels, after an earlier proposal was met with strong backlash.

Through a status on social platforms, the UAE summit presidency confirmed that with an unprecedented reference to divestment from all fossil fuels, the UAE Consensus is delivering a paradigm shift that has the potential to redefine the economies of the participating countries. Dubai has been hosting the conference for the past two weeks against a backdrop of controversy, geopolitical conflict and an increase in extreme weather events.

The latest proposal published by the United Arab Emirates called for "the phase-out of fossil fuels in energy systems, in a fair, orderly and equitable manner, accelerating action in this critical decade, in order to achieve the level zero emissions by 2050.

The text of the agreement also called for accelerating efforts towards the continued reduction of coal power and tripling the capacity of renewable energy globally. But also doubling the global average annual rate of energy efficiency improvements by 2030. Critically, the proposal did not mandate an absolute phase-out of hydrocarbons.

A phased commitment would likely require a shift away from fossil fuels until their use is eliminated, while a phased agreement would have seen a reduction in their use – but not an absolute end.

Many believed that the COP28 summit could only be considered a success if it resulted in an agreement to divest from all fossil fuels. On Monday, a young climate activist took to the stage to call for action on the issue. Licypriya Kangujam, 12, interrupted a presidency briefing while holding a sign that read: "End fossil fuel. Save our planet and our future.”

The burning of coal, oil and gas is the largest contributor to climate change, accounting for more than three-quarters of global greenhouse gas emissions. The statement comes after an earlier draft text published in the final throes of the talks drew widespread criticism for failing to include a decision to end the use of fossil fuels, as negotiations highlighted deep divisions among policymakers over the future of hydrocarbons.


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