‘Historic’ COP28 deal sets transition from fossil fuels
DUBAI—Representatives from nearly 200 countries agreed at the Conference of Parties (COP28) climate summit on Wednesday to begin reducing global consumption of fossil fuels to avert the worst of climate change, a first of its kind deal signaling the eventual end of the oil age.
The deal struck in Dubai after two weeks of hard-fought negotiations was meant to send a powerful signal to investors and policymakers that the world is united in its desire to break with fossil fuels, something scientists say is the last best hope to stave off climate catastrophe.
COP28 President Sultan Al Jaber called the deal “historic” but added that its true success would be in its implementation.
“We are what we do, not what we say,” he told the crowded plenary at the summit. “We must take the steps necessary to turn this agreement into tangible actions.”
Elusive for yearsSeveral countries cheered the deal for accomplishing something elusive in decades of climate talks.
“It is the first time that the world unites around such a clear text on the need to transition away from fossil fuels,” said Norway Minister of Foreign Affairs Espen Barth Eide. “It has been the elephant in the room. At last we address it head on.” More than 100 countries had lobbied hard for strong language in the COP28 agreement to “phase out” oil, gas and coal use, but came up against powerful opposition from the Saudi Arabia-led oil producer group Organization of the Petroleum Exporting Countries (Opec), which argued that the world can slash emissions without shunning specific fuels.
Overtime
That battle pushed the summit a full day into overtime on Wednesday.
Members of Opec together control nearly 80 percent of the world’s proven oil reserves along with about a third of global oil output, and their governments rely heavily on those revenues.
Small climate-vulnerable island states, meanwhile, were among the most vocal supporters of phasing out fossil fuels and had the backing of huge oil and gas producers such as the United States, Canada and Norway, along with the EU bloc and scores of other governments.
“This is a moment where multilateralism has actually come together and people have taken individual interests and attempted to define the common good,” US climate envoy John Kerry said after the deal was adopted.A representative for the Alliance of Small Island States also addressed the plenary, complaining that the agreement had been gaveled before its delegates had arrived in the room and criticizing the text as unambitious. But she did not formally object to the pact and her speech drew a standing ovation. Danish Minister for Climate and Energy Dan Jorgensen marveled at the circumstances of the deal: “We’re standing here in an oil country surrounded by oil countries, and we made the decision saying let’s move away from oil and gas.”Opec resistance
The deal specifically calls for “transitioning away from fossil fuels in energy systems, in a just, orderly and equitable manner … so as to achieve net zero by 2050 in keeping with the science.”
It also calls for a tripling of renewable energy capacity globally by 2030, speeding up efforts to reduce coal use, and accelerating technologies such as carbon capture and storage that can clean up hard-to-decarbonize industries.
In the United States, the world’s top producer of oil and gas and the largest historical emitter of greenhouse gases, climate-conscious administrations have struggled to pass laws aligned with their climate vows through a politically divided Congress.
Public support
US President Joe Biden scored a major victory on that front last year with passage of the Inflation Reduction Act which contained hundreds of billions of dollars in subsidies for electric vehicles, wind, solar and other clean energy technologies.
Mounting public support for renewables and electric vehicles from Brussels to Beijing in recent years, along with improving technology, sliding costs and rising private investment have also driven rapid growth in their deployments.
Even so, oil, gas and coal still account for about 80 percent of the world’s energy, and projections vary widely about when global demand will finally hit its peak.
