CNBC's Sam Meredith is reporting that a fossil fuel fight takes center stage at the COP28 climate summit. 

The COP28 climate summit in Dubai has put a spotlight on the contentious debate about the future of fossil fuels. Policymakers from nearly 200 countries are considering the importance of phasing out fossil fuels, a key driver of the climate crisis. There is a significant discussion on whether to commit to a complete phase-out of fossil fuels or a more gradual phase-down. Some propose focusing on "abated" fossil fuels using carbon capture technologies, while others advocate for a total phase-out. Johan Rockstrom, a leading Earth scientist, emphasizes that COP28 must mark the beginning of the end for fossil fuel dependence in the world economy. The draft text of the summit hints at the possibility of an agreement to phase out all fossil fuels, but opinions vary, with some countries and industry leaders favoring a phase-down approach or no mention of fossil fuels at all. The summit also saw progress on a fund for climate disaster impacts in vulnerable countries, setting the stage for more focused negotiations on fossil fuels. U.N. Secretary-General António Guterres stressed the urgency of completely phasing out fossil fuels to maintain the crucial 1.5 degrees Celsius temperature threshold, beyond which Earth's life support systems face dangerous tipping points.

Source: CNBC

(This article was written with assistance from ChatGPT)

Written by Ursa Nova

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