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Exciting developments are happening at Cop28 in Dubai, where a draft text has been revealed that could potentially phase out all nonrenewable fuel sources. The debate is on whether to “phase down” all nonrenewable fuel sources, focus on coal alone, or remain silent. The text is a response to the global stocktake of progress to meet the Paris Agreement goals and aims to prevent the worst climate change scenarios.
The draft states that while progress has been made in preventing extreme climate change situations, we are still not in line with the Paris Agreement objectives of limiting warming to 2 ° C and aiming for 1.5 ° C. There is division around the wording, with Russia opposing a “phase out” due to potential discrimination against their economy. The potential for a “stage down” of nonrenewable fuel sources has been suggested by the Cop28 presidency and the IEA.
The global stocktake text also proposes ending nonrenewable fuel subsidies, tripling renewable energy, and doubling energy efficiency, all of which have garnered strong support. Certain aspects did not make it into the draft, such as a medium-term target for 2035, which the IPCC deems necessary to cut emissions by 60% by that time to meet the 1.5 ° C target.
Recent headlines include updates on world leaders speaking at Cop28 and promises of $400m in funding to establish a loss and damage fund.
Circus in Dubai
Day 2 of Cop28 in Dubai saw over 150 world leaders in attendance, showing modest funding promises and bids for future Cops. However, no new emissions targets were announced. The presence of the leaders affected accessibility and movement within the venue, with parts of the area blocked off for leaders and restrictions on access for delegates and journalists.
The day began with a Climate Ambition Summit, where UN chief Antonio Guterres emphasized the imperative of a nonrenewable fuel phase out. Following this, national leaders had their chance to speak, with some exceeding the advised time limits.
Indian prime minister Narendra Modi expressed interest in hosting Cop33 in 2028 and introduced a “green credits initiative” aimed at going beyond traditional carbon credits.
