COP28 climate talks: To phase out or phase down fossil fuels?

COP28 climate talks: To phase out or phase down fossil fuels?

  • The UAE-hosted U.N. climate conference discussed the need to phase out fossil fuels, but also featured oil companies as speakers.
  • The Global Stocktake draft document had many options for reducing emissions, but no clear consensus on how to achieve them.
  • Climate scientist Bill Hare said the phasing out of fossil fuels was the central issue of the conference and the key to lowering temperature.
  • The draft document had different options for phasing out or phasing down coal power, with some loopholes for “unabated” fossil fuels.
  • Climate experts said “unabated” fossil fuels meant allowing carbon capture and storage, a technology that was not proven to work well.
  • Many countries still funded fossil fuel expansion, especially the UAE, which planned to invest $150 billion in its oil and gas industry.
  • China, the world’s biggest carbon emitter, was expected to peak its emissions in 2025 and reduce them to 2017 levels by 2035.
  • Activists pressured the conference participants to phase out coal, oil and gas, and move to clean energy in a fair way.
  • A team of scientists reported that the world emitted 1.1% more carbon dioxide than last year, mainly due to China and India.
  • Protests at the conference focused on phasing out fossil fuels and calling for finance to boost clean energy.
  • Over 100 countries pledged to triple their renewable capacity and double their energy efficiency by 2030.
  • The conference aimed to accelerate the global transition to a low-carbon economy and limit the warming to 1.5°C.

COP28 climate talks: To phase out or phase down fossil fuels?

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DAILYSABAH COP28 crucial warming concerns climate negotiators phase out or phase down fossil fuels Saudi Arabia UAE China

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Abu Hamza is member of Business Bee Staff

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