A new deal reached at COP28 in Dubai signals a global shift away from fossil fuels to combat climate change. Representatives from nearly 200 countries supported the agreement, which contains stronger language on fossil fuels than previous proposals. The deal calls for a transition away from fossil fuels in energy systems in a just, orderly, and equitable manner, aiming for net zero by 2050.
COP28 President Sultan al-Jaber, who is also the CEO of the UAE’s state-owned oil company ADNOC, endorsed the agreement, which is groundbreaking for explicitly addressing the need to move away from oil, natural gas, and coal. U.S. Special Presidential Envoy for Climate John Kerry expressed optimism about the strength of the document.
However, the deal has faced criticism for not including terms like ‘phase out’ or ‘phase down’ of fossil fuels, which were initially suggested by al-Jaber. Instead, the agreement implies countries will reduce fossil fuel production and consumption over the coming decades, potentially using carbon capture technology to offset emissions beyond 2050. This approach has led some environmental experts to describe the agreement as a paradox – neither a small step nor a giant leap in climate change efforts.
Environmental groups and the Alliance of Small Island States (AOSIS) have expressed disappointment, citing “a litany of loopholes” and the lack of specificity on fossil fuel phase-out. AOSIS described the deal as “incremental and not transformational,” though it committed to working cooperatively with other countries.
The agreement calls for a tripling of renewable energy capacity and a doubling of energy efficiency by 2030. The draft also acknowledges the cause of climate change and adopts a global climate damage fund to assist developing countries with climate change impacts. Germany, the UAE, and Canada are among the largest contributors to this fund.
Despite some criticisms, Canada’s federal environment minister Steven Guilbeault recognized the deal’s commitments to renewable energy, energy efficiency, and transitioning away from fossil fuels. While acknowledging the deal’s imperfections, Guilbeault noted its breakthrough commitments. Meanwhile, Canadian oil production is expected to reach a record high in 2024, with many large oil companies in Canada setting net-zero targets for 2050.
https://www.cbc.ca/news/climate/bakx-cop28-climate-deal-1.7056812