Reuters's Kate Abnett, Gloria Dickie and David Stanway is reporting that new COP28 draft deal stops short of fossil fuel 'phase out'.
The COP28 climate summit in Dubai has reached a crucial stage, with a new draft deal proposing measures to reduce greenhouse gas emissions but stopping short of the demanded "phase out" of fossil fuels. This omission has drawn criticism from the U.S., the EU, and climate-vulnerable countries. Over 100 countries are advocating for an agreement to end the oil age, facing opposition from OPEC members. COP28 President Sultan Al Jaber urged countries to finalize a deal with high ambition on fossil fuel language, but the new draft only suggests options like reducing fossil fuel consumption and production, tripling renewable energy by 2030, and scaling up CO2 capture technologies.
U.S. Special Climate Envoy John Kerry, EU chief negotiator Wopke Hoekstra, and representatives from Pacific Island nations have expressed dissatisfaction with the draft, highlighting its inadequacy in addressing the urgent need to phase out fossil fuels. The draft has triggered protests and calls for stronger commitments. The UAE, under pressure from Saudi Arabia and other OPEC members, is hesitant to include explicit fossil fuel phase-out language. The outcome of the summit remains uncertain, with a new draft expected soon and little time for resolving disagreements. The final agreement requires consensus among nearly 200 countries, with developing nations emphasizing the need for financial support for a just transition. Despite the growth of renewable energy, fossil fuels still account for about 80% of the world's energy.
Source: Reuters
https://www.reuters.com/markets/commodities/new-cop28-draft-deal-stops-short-fossil-fuel-phase-out-2023-12-11/
(This article was written with assitance from ChatGPT)
