COP28 Climate Conference: Scant Exit Plans for Oil and Gas Producers
The debate surrounding the phase-out of coal, oil, and gas is heating up at COP28 - and a recent analysis reveals that the vast majority of oil-producing nations have no intentions of phasing these resources out.
According to the Net Zero Tracker, an evaluation tool developed jointly by organizations such as the NewClimate Institute and Oxford University, only 3% of oil-producing countries have a clear goal to cease oil production. Similarly, only 3% of gas-producing nations have decided to phase out gas production.
Oil and Gas Persist
The same trend is observed in oil and gas production: only 3% of the producing countries have committed to a phase-out. This translates into less than 0.8% of oil and gas production from countries aiming for climate neutrality being covered. In coal production, only 3% of nations have pledged to phase out coal, although notables like China, the USA, Indonesia, and India are absent from this list.
Spain serves as a positive example with its legislation transposing phase-out targets.
The phase-out of coal, oil, and gas remains a contentious topic at COP28, a crucial step towards achieving international climate targets. The UAE and other nations maintain their reliance on fossil fuels and propose utilizing technologies such as CO2 storage or capture, though experts view these approaches as scientifically questionable and expensive, particularly at a large scale in the near future.
Ambitious Demands from Activists
Activists, spearheaded by Fridays for Future leader Luisa Neubauer, are urging COP28 delegates to pursue more ambitious efforts in combating global warming. A complete phase-out of coal, oil, and gas is demanded, challenging statements made by COP28 President Sultan al-Jaber, who leads the state oil company, regarding the necessity of phasing out fossil fuels. The activists have voiced concerns about the mockery of the negotiation process and questioned the justification of contradicting well-established climate research findings.
Calls to Action From Fridays for Future
Clara Duvigneau from Fridays for Future rallied "leaders of the global North," criticizing their lackluster climate protection efforts for years. She urged countries to halt all coal, gas, and oil projects, demanding a complete phase-out of fossil fuels at COP28. This commitment would mark the end of loopholes that have inhibited the fight against climate change to date.
References
www.stern.de
Additional Insights
- The UAE Presidency at COP28 emphasizes the need to phase out fossil fuel emissions, focusing on reducing carbon emissions from the oil and gas sector. However, opposition has surfaced regarding addressing Scope 3 emissions, as Western countries aimed at holding final consumers accountable.
- Renewable energy commitments also dominate the COP28 agenda. The goal is to triple renewable energy capacity worldwide by 2030 and double energy efficiency, promoting competitive solar energy and facilitating the transition towards renewable energy sources.
- Despite these commitments, achieving mitigation actions to lower greenhouse gas emissions remains uncertain, with talks on transitioning away from fossil fuels at COP29 encountering obstacles. Some nations, like Saudi Arabia, have opposed the inclusion of language pertaining to phasing out fossil fuels in the final agreement, as seen at COP29.
