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The outcome – COP28 daily

The outcome of the first global stocktake was approved by Parties as of today. The approved text further recognises the need for deep, rapid and sustained reductions in greenhouse gas emissions in line with 1.5°C pathways and calls on Parties to contribute to the following global efforts, in a nationally determined manner, taking into account the Paris Agreement and their different national circumstances, pathways and approaches:

  • Tripling renewable energy capacity globally and doubling the global average annual rate of energy efficiency improvements by 2030;
  • Accelerating efforts towards the phase-down of unabated coal power;
  • Accelerating efforts globally towards net zero emission energy systems, utilising zero- and low-carbon fuels well before or by around mid-century;
  • Transitioning away from fossil fuels in energy systems, in a just, orderly and equitable manner, accelerating action in this critical decade, so as to achieve net zero by 2050 in keeping with the science;
  • Accelerating zero- and low-emission technologies, including, inter alia, renewables, nuclear, abatement and removal technologies such as carbon capture and utilisation and storage, particularly in hard-to-abate sectors and low-carbon hydrogen production;
  • Accelerating and substantially reducing non-carbon-dioxide emissions globally, including in particular methane emissions by 2030;
  • Accelerating the reduction of emissions from road transport on a range of pathways, including through the development of infrastructure and rapid deployment of zero- and low-emission vehicles;
  • Phasing out inefficient fossil fuel subsidies that do not address energy poverty or just transitions, as soon as possible.

The text also recognises that transitional fuels can play a role in facilitating the energy transition while ensuring energy security.

In summary, the global community has just made a momentous decision at COP28, signalling the commencement of an irreversible, accelerated transition away from fossil fuels. This landmark achievement signifies the realisation of our initial objective: to ensure that the target of limiting global warming to 1.5 degrees Celsius remains attainable, while simultaneously heralding the beginning of the end of fossil fuels. If it signifies fossil fuel phase-out, which is fast, fair, full and funded, well, every individual possesses the right to make their own decision.

 

 

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