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DRAFT CLIMATE DEAL FAILS TO ‘PHASE OUT’ FOSSIL FUEL

Why in the News?

• Recent draft omits the term ‘phase out’ concerning fossil fuels, raising concerns about parity between coal, oil, and gas elimination.
• The revised text strongly urges a “rapid phase-down” of unabated coal, potentially sparking objections from major coal-consuming nations like India, Indonesia, and China.

Source: New Indian Express

Significance of Text

• Crucial Mention of Fossil Fuels: Inclusion of any statement advocating the elimination of fossil fuels in the final text, expected imminently, signifies a significant step towards aligning with the 1.5°C temperature goal.
• Current Text’s Stance: Urges countries to reduce both consumption and production of fossil fuels, aiming for net-zero emissions around 2050 in alignment with scientific goals.

Fossil Fuel Impact

• Emission Contribution: Fossil fuels, accounting for about 80% of greenhouse gas emissions, entail coal at 40%, with oil and gas constituting the remainder.
• Emission Reduction Goals: Achieving a temperature increase below 1.5°C necessitates reducing emissions to 43% of 2019 levels by 2030. Despite renewable energy commitments, emissions continue to rise annually.

Stakeholder Perspectives

• The altered text indicates regression, attributing it to fossil fuel lobbying, favoring prolonged use rather than explicit phase-out commitments.
• Influence of the Venue: Observers speculate the influence of the conference location, a petrostate, in shaping the wording of the text, potentially compromising between opposing viewpoints.

Interpretations and Prospects

• Views the draft as a stepping stone, acknowledging it as the first COP incorporating ‘fossil fuel’ in the text, marking the beginning of an era shift, albeit amidst compromises.
• Perceived Compromise: Balancing Saudi Arabia’s resistance to mentioning fossil fuels with progressive nations calling for explicit phase-out language defines the current text’s landscape.