World raises toast to fossil-fuel transition

COP28 closes with action plan to keep temp rise within target

- lavashree Nandi

History was made in Dubai on Wednesday when 196 countries agreed to transition away from fossil fuels, in a just, orderly and equitable manner, accelerating action in this critical decade to achieve net zero emissions by 2050. However, experts said the deal doesn’t do enough on almost all fronts—climate targets, funding, phasing out fossil fuels, and holding historical polluters accountable.

Still, fossil fuels have been a topic of taboo for years in climate negotiations, and while the text still doesn’t mention the words “oil" or “gas", the very fact that there is a consensus is being seen as a victory in some quarters.

“The world needed to find a new way. By following our North Star, we have found that path. We have delivered a comprehensive response to the Global Stocktake and all the other mandates. Together, we have confronted realities and we have set the world in the right direction. We have given it a robust action plan to keep 1.5 within reach," said COP28 president Sultan Al Jaber, who gavelled the decision on the global stocktake (GST) at the very start of the plenary session.

His reference is to one of the two flagship goals of the Paris accord (2015)—to keep global warming under 1.5 degrees Celsius over pre-industrial levels. The adoption of a very carefully calibrated decision text titled the UAE Consensus seemed impossible even on Tuesday, and some experts were already beginning to term COP28 a complete failure.

Al Jaber described the outcome as a “a balanced plan, that tackles emissions, bridges the gap on adaptation, reimagines global finance, and delivers on loss and damage" and one “ built on common ground".