In a historic agreement reached at the COP28 summit in Dubai, all parties committed to 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,” according to the final draft approved at a plenary session this morning, as reported by Reuters.
The deal further recognizes “the need for deep, rapid and sustained reductions in greenhouse gas emissions” to ensure that global temperatures do not exceed a 1.5-degree increase.
This milestone comes on the heels of last week's commitment at the UN climate summit, where heads of state pledged to triple global renewable energy capacity by 2030.
Ember's global insights lead, Dave Jones, shared his perspective on this transformative agreement, stating, “This marks the beginning of the end of the fossil fuel era. For the first time, the world has recognized the scale of ambition required this decade to build the new clean energy system: a tripling of renewables and doubling of efficiency improvements.”
Jones emphasized the crucial role of renewables and efficiency in achieving rapid fossil fuel reductions, urging governments to prioritize them in energy and climate plans. “Renewables and efficiency must now be at the top of every energy and climate plan. Together they are the single largest actions that can deliver rapid fossil fuel cuts this decade. There's so much to gain from transitioning to a clean, electrified energy system: it's time for governments to grab the opportunity with both hands,” he added.
