Following two weeks of discussions and negotiations, global leaders at the current climate summit officially embraced the “UAE Consensus” on Wednesday, marking a significant shift away from fossil fuels,Premium Times reports.
Sultan Al Jaber, the COP28 President, announced the groundbreaking agreement during the closing plenary in Dubai, expressing a collective commitment to the new direction set by The UAE Consensus. This marks a historic moment, as it is the first time such a comprehensive agreement has been reached in nearly three decades of COP negotiations.
The COP, which commenced on November 30 and was initially scheduled to conclude on December 12, extended its duration due to persistent challenges, including issues surrounding the phase-out/down of fossil fuels, inadequate financing for the Global Goal on Adaptation (GGA), and concerns over wording in various draft texts.
Delegates, hoping for a more robust final agreement, continued discussions throughout the night at the COP’s Expo center.
The adopted text emphasizes a just, orderly, and equitable transition away from fossil fuels in energy systems. It underscores the need to accelerate actions during this critical decade to achieve net-zero emissions by 2050, aligning with scientific recommendations. Fossil fuels, responsible for over 75% of Greenhouse Gas (GHG) emissions contributing to climate change, are targeted for phase-out, a move endorsed by scientists striving to achieve the 1.5 degrees Celsius target.
This adopted text, integrated into the Global Stocktake, serves as a pivotal element of this year’s conference, urging expedited efforts toward the reduction of unabated coal power.