The End of Fossil Fuels – COP28

In a demonstration of global cooperation, negotiators from almost 200 countries primarily recognized the need to transition away from fossil fuels at the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change.

COP28 run from November 30 to December 13, 2023 at the Expo City in Dubai.

The global precedent was set by nearly 200 countries having agreed on “global stocktake,” the decision to keep global temperature at a limit of 1.5° enabling the end of climate action before the end of the decade.

The stocktake recognized as the main outcome of COP28. It recognizes the science that indicates global greenhouse gas emissions need to be reduced by 2030 at a 43% rate and also to limit global warming to 1.5°.

COP28 encouraged parties to come out with ambitious, economy and wide reduction targets covering all greenhouse gases, sectors and categories with keeping global warming under 1.5°.

At COP28 there was the boost in the Green Climate Fund (GCF) with six (6) countries pledging new funding – with total pledges at COP28 of USD 12.8 billion from 31 countries.

The event developed parallel strategies of providing platforms for governments, businesses and civil society to collaborate and showcase their real-world climate solutions.