COP28’s: finally the deal for global transition away from fossil fuels
A compromise unveiled between global efforts and contentions
The recently concluded COP28 in Dubai marked a pivotal moment in the international commitment to combating climate change, as countries, for the first time, reached an agreement to transition away from fossil fuels. While hailed as „historic“ by COP28 President Sultan al-Jaber, the deal faced criticism from 39 small-island nations, revealing the complexities and challenges inherent in the global pursuit of net-zero emissions by 2050.
Finding middle ground: ambition and reality
COP28 aimed to balance big climate goals with the practical challenges each country faces. All nations were asked to set ambitious emission targets in the next two years, considering their use of fossil fuels. The goal? To limit global warming to 1.5°C above pre-industrial levels. Recognizing the differences between developed and developing nations, the agreement acknowledged that cutting emissions might be harder for some.
UAE Consensus: progress and disagreements
Dubbed the UAE Consensus, the final agreement called on countries to transition away from fossil fuels in a fair and orderly way. This was a big deal, especially because the host, the United Arab Emirates, is a major oil and gas producer. However, it faced criticism from small island nations for potential loopholes and a lack of clarity on funding for poorer countries making the shift.
A night of compromises and hope
After a night of talks involving key players like the US and Saudi Arabia, an agreement was reached. John Kerry, the US climate envoy, called it a reason for hope. But he admitted that it was a compromise, and some wanted clearer language on reducing fossil fuels in the crucial decade ahead.
What’s Next: money matters and transitioning away
In closing, COP28’s move away from fossil fuels is a big deal, but challenges remain.
It is also the first time that a final statement from the COP conference declare the will to abandon fossil fuels (oil, gas, and coal). Even if a slightly softer term is chosen – transitioning away – instead of the term – phase out – requested by more ambitious countries, but rejected by major oil-producing countries, with Saudi Arabia at the forefront.
Figuring out the money part and deciding on what kind of fuels to use during the transition are key.
The success of this shift depends on countries working together and sticking to their commitments.
Next appointment: COP29 in November 2024 in Azerbaijan. Stay tuned!