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Countries at the COP28 climate conference are considering calling for a formal phase-out of fossil fuels as part of the U.N. summit’s final deal to fight global warming, according to a draft negotiating text seen on Tuesday
Countries at the COP28 climate conference are considering calling for a formal phase-out of fossil fuels as part of the U.N. summit’s final deal to fight global warming, according to a draft negotiating text seen on Tuesday. The latest draft of a global climate agreement presents all options on fossil fuels — from phasing them out to not discussing them at all. The draft forms the basis of negotiations that will unfold in the coming days, with a final text expected in theory by December 12.
Research published on Tuesday showed global carbon dioxide emissions from burning fossil fuels are set to hit a record high this year, exacerbating climate change and fuelling more destructive extreme weather. The fate of oil, gas, and coal is the thorniest issue being thrashed out at the COP28 UN climate talks in Dubai, and divisions around their future have dominated the conference.
On the COP28 main stage, the chief executives of several major energy firms argued in favor of oil and gas and sought to highlight their climate-friendly credentials such as cutting the greenhouse gas methane.
The second version of the negotiating text puts three options on the table, setting the stage for a grueling showdown as representatives from nearly 200 nations try to reach a final agreement. The first proposes “an orderly and just phase out of fossil fuels” — the toughest stance and one seen as essential by low-lying island nations at threat from rising seas. The second calls for faster efforts to phase out projects that lack the means to capture and store emissions, and to “rapidly” reduce fossil fuel use to achieve carbon neutrality in global energy production by 2050. The third option contained in the 24-page draft is “no text” at all, a position supported by oil giant Saudi Arabia and China.
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A previous version had only mentioned the options of a phase-out or a weaker phase-down. Major oil and gas producers including Saudi Arabia and Russia have resisted past proposals for a phase-out. Saudi Arabia’s energy minister told Bloomberg on Monday that he “absolutely” rejected calls for a phase-down, hinting at the bitter fight ahead over the issue.
It is a formal response to the “global stocktake”, a damning report card published in September that highlighted how little the world had done to confront the climate crisis.
