At the Cop28 climate summit in Dubai, fossil fuel industry vested interests were apparent, with major oil-producing countries in opposition to the final deal. However, the deal is considered historic as it calls on all countries to transition away from fossil fuels to achieve net-zero by 2050. This is the first time this language has been secured and is a significant step towards tackling the climate crisis. Despite the achievement, the agreement does not include an explicit commitment to phase out or phase down fossil fuels.
Despite criticisms of the agreement and the role of the fossil fuels industry at the summit, a renewables revolution is already underway, with renewables poised to provide half of the world’s electricity by 2030. The International Energy Agency’s (IEA) World Energy Outlook report published last October showed that major shifts to the renewables industry would mean a “considerably different” global energy system by 2030, with demand for coal, oil, and gas forecast to peak before then. The IEA predicts that solar PV will generate more electricity than the current US power system, and EVs on the roads are projected to increase tenfold.
Despite the progress towards transitioning away from fossil fuels, global emissions remain too high, and the fossil fuel phase-out requires acceleration to meet the Paris Agreement’s vital 1.5C target.
Though the UAE hosted Cop28, which was led by an oil executive and attended by oil lobbyists, progress continues towards the renewables transition, which is both unstoppable and vital. The solution requires continued effort and support to achieve the shift to clean energy, requiring all nations to stand together and for more significant sectors to shift toward renewable power
Read the full article on Positive News here: Read More