“The COP28 agreement for the first time secured language to end the use of fossil fuels, though it’s weak. The agreement calls for “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.” It also calls for “Phasing out inefficient fossil fuel subsidies that do not address energy poverty or just transitions, as soon as possible.”
The accord doesn’t establish a specific timeline, benchmarks, or investment goals, however. Fossil fuel-exporting countries and some developing countries pushed back against such language. Most countries have set goals of zeroing out their greenhouse gas emissions by the middle of the century, but many are counting on technology fixes like carbon capture to balance out their fossil fuel consumption.”