• UGI USER
  • Dec 14, 2023
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COP-28’S CALL FOR FOSSIL FUEL TRANSITION

Why in the News?

  • Negotiators at COP-28 in Dubai adopt a resolution titled the “Dubai Consensus.”
  • The resolution represents a small but crucial step towards phasing out fossil fuels.

Key Clause on Fossil Fuel Transition:

  • Emphasis on transitioning away from fossil fuels in energy systems.
  • Calls for a just, orderly, and equitable transition, aiming to achieve net-zero emissions by 2050 in line with scientific recommendations.
Source:  Zawya

Compromise and Dilution from Earlier Drafts:

  • The language of “transitioning” replaces earlier drafts that called for an actual “phase-out” of all fossil fuels.
  • Despite the compromise, the resolution acknowledges the urgency of achieving net-zero greenhouse gas emissions by 2050.

Global Response and Compromise Dynamics

  • Transitioning away from fossil fuels aligns with efforts to limit global temperature rise to 1.5 degrees Celsius by 2050.
  • The consensus text reflects a compromise between developed and developing nations, considering historical responsibility for the climate crisis.

Mixed Reactions and Future Concerns:

  • Delegates from vulnerable nations express dissatisfaction, indicating that the agreement falls short in ending fossil fuel use, putting their countries at risk.
  • Some countries, including Saudi Arabia, Egypt, etc see the agreement as a step forward but express concerns about fund allocation from developed to developing nations.

COP-28 Agreements Beyond Fossil Fuels

  • Countries commit to tripling global renewable energy capacity by 2030.
  • The agreement aims to double the annual rate of energy efficiency improvements, critical for limiting temperature rise.

Loss and Damage (L&D) Fund Operationalization:

  • The Loss and Damage Fund receives nearly $800 million in its first capitalization.
  • The fund supports developing nations in recovering from climate disasters.

Methane Emissions Reduction and Adaptation Framework:

  • COP-28 includes a call for reducing methane emissions, recognizing its potency in causing global warming.
  • A global framework for defining adaptation goals is established, identifying common objectives such as climate-resilient food and agriculture.

COP-28’s adoption of the Dubai Consensus marks progress in the global effort to transition away from fossil fuels.