Representatives from nearly 200 countries agreed at the COP28 climate conference on Wednesday (13) to begin reducing global fossil fuel consumption to avoid the worst of climate change, signaling the eventual end of the oil era.
The agreement reached in Dubai, after two weeks of hard negotiations, aimed to send a powerful message to investors and politicians that the world is united in its desire to break away from fossil fuels, something scientists say is the best hope to avoid a climate catastrophe.
The COP28 president, Sultan al-Jaber, called the agreement “historic,” but added that its true success would lie in its implementation.
“We are what we do, not what we say,” he told the packed plenary at the summit. “We must take the necessary steps to turn this agreement into tangible actions.”
Several countries applauded the agreement for achieving something that has so far been left out of climate negotiations.
“It is the first time the world has united around such a clear text on the need to abandon fossil fuels,” said Norway’s Foreign Minister, Espen Barth Eide.
More than 100 countries lobbied strongly for strong language in the COP28 agreement to “phase out” the use of oil, gas, and coal, but faced strong opposition from the oil-producing group OPEC, led by Saudi Arabia, which stated that the world can reduce emissions without eliminating specific fuels.
This battle pushed the conference into a full day of extension on Wednesday, leaving some observers concerned about a deadlock.
Emission Reduction
The agreement calls for the “transition from fossil fuels in energy systems, in a fair, orderly, and equitable manner… in order to achieve net zero by 2050, according to science.”
To some extent, this language describes what has already begun to happen, with some governments enacting policies in recent years to transition to a greener economy.
The agreement urges governments to accelerate this process – specifically tripling global renewable energy capacity by 2030, speeding up efforts to reduce coal use, and accelerating technologies like carbon capture and storage, which can clean hard-to-decarbonize industries.
Now that the agreement has been reached, countries are responsible for its realization through national policies and investments.
China, now the world’s largest carbon polluter, suggested that industrialized countries should lead the way.
“Developed countries have historical responsibilities for climate change,” said the country’s Vice Minister of Environment, Zhao Yingmin, after the pact was approved.
Oil, gas, and coal account for about 80% of global energy, and projections vary widely on when global demand will finally peak.
Source: Reuters