At the COP28 climate summit in Dubai, a historic agreement was reached by almost every nation to begin a transition away from fossil fuels, which are the primary drivers of climate change. This agreement marks a historic first in the 28 years of international climate negotiations.
The commitment forms part of the initial “global stocktake” aimed at enhancing actions to fulfill the objectives of the Paris Agreement. Despite this progress, the absence of an explicit directive for phasing out fossil fuels within this decade left many countries dissatisfied. They also expressed concerns about potential loopholes in the agreement that could allow the continued production and use of coal, oil, and gas.
While the establishment of a fund to compensate for the “loss and damage” caused by climate change was a significant early achievement, developing nations were left wanting due to the absence of new financial pledges to support the transition from fossil fuels and to adapt to the effects of climate change.
Dr. Sultan Al Jaber, the president of COP28 and an oil executive, celebrated this unprecedented accomplishment of incorporating “fossil fuels” into a UN climate change agreement.