COP28 reaches historic deal on fossil fuels

On December 13, the countries attending the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28) in Dubai, United Arab Emirates (UAE), closed and approved the final agreement. This agreement paves the way for reducing the use of fossil fuels globally, to prevent the worst impacts of climate change.

Participants at the closing conference of COP28. Photo: REUTERS

According to Reuters, this is considered a turning point for the world in the process of reducing greenhouse gas emissions that cause climate change. After 2 weeks of difficult negotiations, this draft agreement received consensus from nearly 200 countries attending COP28. The conference reaching this important agreement is expected to send a strong message to investors and policymakers that the world is now united in ending the use of fossil fuels to prevent climate disasters.

The agreement specifically calls for a fair, orderly and equitable transition away from fossil fuels in energy systems, leading to net zero emissions by 2050. It also calls for tripling global renewable energy capacity by 2030, accelerating efforts to reduce coal use and accelerating technologies such as carbon capture and storage that can clean up hard-to-decarbonize industries.

Implementation of the COP28 agreement will be up to individual countries, through their own policies and investments. Oil, gas and coal still account for about 80% of the world’s energy. Burning coal, oil and gas is a major cause of climate change. These fuels also account for more than three-quarters of global greenhouse gas emissions.

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Source: https://www.sggp.org.vn/cop28-dat-thoa-thuan-lich-su-ve-nhien-lieu-hoa-thach-post718239.html