Joy Agwunobi
Representatives from nearly 200 countries attending the COP28 climate summit have reached an agreement to reduce global consumption of fossil fuel,marking a major milestone in the effort to limit climate change and secure a more sustainable future for generations to come.
The agreement calls for a just, orderly, and equitable transition away from fossil fuels by 2050. It also sets targets for renewable energy and the phase-out of coal, in accordance with the scientific evidence and the goal of net zero emissions by 2050. To achieve this, the agreement calls for a tripling of renewable energy capacity by 2030 and the acceleration of technologies such as carbon capture and storage, which can help reduce emissions from hard-to-decarbonise industries.
The agreement is the result of lengthy negotiations and represents a breakthrough in global cooperation on this critical issue. It sends a powerful message to investors and policymakers that the world is committed to moving away from fossil fuels and towards cleaner, renewable energy sources.
Sultan AL Jaber, the COP28 president, described the agreement as “historic,” stressing that its true success will depend on how it is implemented. He called on all parties to turn the agreement’s words into action, noting that actions will speak louder than words.
Many countries applauded the agreement, including Espen Barth Eide,Norway’s Minister of Foreign Affairs, who stated that it was the first time the world had come together around such a clear text.Â
While over 100 countries pushed for the inclusion of strong language in the COP28 agreement calling for the phasing out of fossil fuels, opposition from members of the Organisation of the Petroleum Exporting Countries (OPEC) prevented this from happening. The debate revolved around whether it is possible to reduce greenhouse gas emissions without completely eliminating certain types of fuel. Some countries argued that it is not possible to completely phase out fossil fuels, while others maintained that it is essential to do so in order to prevent the worst effects of climate change.
The debate over phasing out fossil fuels was one of the most contentious issues at the COP28 summit, pushing the conference into overtime as negotiators struggled to find a compromise. However, after a tense day of negotiations, an agreement was finally reached. While the agreement did not explicitly call for the phasing out of fossil fuels, it did include language on reducing global emissions and investing in renewable energy sources.
The negotiations were not without controversy, with some countries accusing others of obstructing progress. However, the final agreement was seen as a significant step forward in the fight against climate change, even if it fell short of what some had hoped for
The issue of phasing out fossil fuels has been particularly contentious for small island nations, which are especially vulnerable to the effects of climate change. These nations have been some of the strongest advocates for the language on phasing out fossil fuels in the COP28 agreement. They were joined by the United States, Canada, Norway, the European Union, and many other countries in their support for the language on phasing out fossil fuels.
John Kerry, U.S. climate envoy hailed the agreement as a victory for multilateralism, noting that countries had been able to put aside their individual interests to achieve a common goal. “This is a moment where we have come together and defined the common good,” Kerry said.
While many hailed the agreement as a positive step forward, Anne Rasmussen, lead negotiator for the Alliance of Small Island States (AOSIS), criticised it as falling short of what is needed to address the climate crisis. “We need an exponential step change in our actions, not just an incremental advancement,” she said.
Despite her disappointment with the agreement, Rasmussen did not formally object to it. In fact, her speech drew a standing ovation from the audience, demonstrating that while the agreement may not have been perfect, it was still seen as a significant achievement.
Dan Jorgensen, Danish minister for climate and energy expressed his surprise at the circumstances of the deal that led to the decision to phase out fossil fuels. “We’re standing here in an oil country, surrounded by oil countries, and we made the decision saying let’s move away from oil and gas,” he said.
Rachel Cleetus, policy director at the Union of Concerned Scientists, applauded the agreement while acknowledging that it did not commit wealthy nations to provide additional financial assistance to help developing countries transition away from fossil fuels. Cleetus said, “The provisions on finance and equity are far from adequate, and must be strengthened in the future to ensure that low- and middle-income countries have the resources they need to transition to clean energy and close the energy poverty gap.”
