Countries unite at COP28, agreeing to phase out fossil fuels in historic climate deal

At the COP28 climate summit in Dubai, representatives from nearly 200 nations reached a landmark agreement to commence reducing global reliance on fossil fuels, signaling a significant shift away from the oil age.

COP28 President Sultan Al Jaber hailed the deal as “historic,” emphasizing the importance of turning words into concrete actions for its success.

Norway’s Minister of Foreign Affairs, Espen Barth Eide, praised the agreement as a united global effort to transition away from fossil fuels, a significant departure from previous climate talks.

However, the negotiations faced resistance from the Saudi Arabia-led OPEC, which opposed explicit language about phasing out specific fuels.

The deliberations extended beyond schedule due to this disagreement, highlighting the substantial influence of OPEC, which controls a significant portion of the world’s oil reserves and output.

On one side, small climate-vulnerable island nations strongly advocated for fossil fuel phase-out, supported by major oil and gas producers like the United States, Canada, Norway, and the EU bloc.

U.S. climate envoy John Kerry commended the unity displayed in reaching the agreement, viewing it as a moment where individual interests were aligned with the common good.

Nevertheless, not all voices were completely satisfied. A representative for the Alliance of Small Island States criticized the deal as insufficient for achieving the necessary course correction, despite receiving a standing ovation for her speech.

Danish Minister for Climate and Energy Dan Jorgensen marveled at the decision made in an oil-rich environment to move away from oil and gas.

The deal explicitly outlines transitioning from fossil fuels in energy systems by 2050, focusing on achieving net-zero emissions in line with scientific recommendations.

Moreover, it calls for a significant increase in renewable energy capacity by 2030, accelerated efforts to reduce coal use, and advancements in technologies like carbon capture and storage.

However, the responsibility now lies with individual countries to implement the agreement through national policies and investments.

In the United States, despite being a major oil and gas producer and a historical greenhouse gas emitter, passing climate-aligned laws through a politically divided Congress has been challenging.

However, recent victories, like the Inflation Reduction Act, which provided substantial subsidies for clean energy technologies, indicate progress.

While support for renewables and electric vehicles has grown globally, fossil fuels still dominate the world’s energy landscape, accounting for roughly 80% of the energy mix.

There’s uncertainty about when global demand for these fuels will peak, with projections varying widely.

OPEC’s Secretary General, Haitham Al Ghais, advocated for targeting emissions rather than fossil fuels, arguing that technology could mitigate the climate impact of fossil fuels by capturing and storing carbon dioxide emissions.

However, the feasibility and scalability of carbon capture remain uncertain and expensive.

Source-Reuters