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COP28: The latest draft deal released by the United Nations Framework Convention on Climate Change has called for the reduction of fossil fuel consumption and production, but has not directly referred to a ‘phase-out’ of fossil fuels. The text mentions that Parties recognise the need for deep, rapid, and sustained reductions in greenhouse gas emissions.
The text also urges Parties to take actions such as tripling renewable energy capacity globally and doubling the global average annual rate of energy efficiency improvements by 2030, rapidly phase down unabated coal, impose limitations on permitting new and unabated coal power generation, accelerate efforts towards net zero emissions energy systems, utilise zero and low-carbon fuels by mid-century, accelerate zero and low emissions technologies such as renewable energy nuclear energy, abatement and removal technologies, implement carbon capture and storage, enhance low-carbon hydrogen production, and enhance efforts towards substituting unabated fossil fuels in energy systems, a Reuters report said.
