Dubai Climate Summit (COP28) closed by “historic” agreement in which he admits for the first time the need to leave fossil fuels behindand as we know them today, to ensure climate security while leaving the door open to low- or zero-emission coal, oil and gas.

On the other hand, it is recognized that this transition must be carried out taking into account different starting points and different circumstances of each country, one of the main complaints of developing countries.

After two weeks of intense negotiations in which fossil fuels and the language that would be used to define their future were among the main obstacles, COP28 concluded with Global Balance text stating that limit global warming to 1.5°C (the limit set by science to ensure a climate-safe planet) requires rapid emissions reductions.

This reduction should be 43% in 2030 and 60% in 2035 compared to 2019. before reaching an emission neutral world in 2050, According to the text, which calls on the parties to contribute to the achievement of this global goal, taking into account the Paris Agreement as well as their different national circumstances, paths and approaches.
Triple renewable energy and double efficiency

Among these methods, Article 28 calls for triple installed renewable capacity and double the annual rate of energy efficiency improvements by 2030, and accelerate efforts to phase out carbon energy without mitigation systems (CCS).

It also calls for increased efforts to zero-emission energy systems through the use of zero or low CO2 emitting fuels “well before or around mid-century”.

Next call “transition” away from fossil fuels in energy systems in a “fair, orderly and equitable” manner.accelerating action in “this critical decade” to achieve carbon neutrality by 2050, according to science.

The above article also mentions acceleration low or zero emission technologies, These include renewables, nuclear power and carbon capture and storage (CCS), especially in sectors where decarbonization is difficult, as well as low-emission hydrogen production.

Gradually reducing unfair subsidies

To facilitate the transition, the document calls on parties (198 countries) phase out fossil fuel subsidies as soon as possible “ineffective” that do not solve the problem of energy poverty or simply transition.

Reduce methane emissions ‘substantially’ by 2030 and accelerate reductions in road transport emissions through low or zero emission vehicles These are other measures under Article 28 of the Global Balance, the first review process of what has been achieved since the Paris Agreement and which should outline the steps that need to be followed to ensure the planet’s climate security.

In parallel, the text recognizes the role of transition fuels in promoting facilitate the energy transition while guaranteeing energy security.

Many consider gas to be a transition fuel and under this nomenclature they may also fall under synthetic fuel (is at an experimental stage and is produced by mixing hydrogen with carbon captured from the atmosphere).

Light and shade

Thus, on the one hand, the text echoes one of the main requests of the bloc led by the European Union to send market signals to The world stops investing in fossil fuels do this by developing “clean” technologies that allow their replacement.

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On the other hand, it gives access to “principle of technological neutrality” This is demanded by oil companies and oil and gas producing countries, who have been asking for years to be allowed to compete with electrification by developing low- or zero-emission fossil fuels.

It remains to be seen how governments and investors will interpret these signals and whether they will be sufficient to putting the world on track to end the fossil fuel era in accordance with the recommendations of scientists, many of whom believe that “clean” fuel is a false solution because it does not prevent emissions into the atmosphere.

(EFE)