At the upcoming COP28 climate summit in Dubai, the European Union has agreed to push for the global phaseout of fossil fuels. Citing the environmental and climate impacts of emissions-spewing fossil fuels, the EU has called for a shift towards a climate-neutral economy, including the peak of fossil fuel use in the near future. They are also advocating for an immediate end to the financing of new coal infrastructure in third countries, and for the phasing out of environmentally harmful fossil fuel subsidies. This strengthens their position since COP27, where nations failed to agree on a phaseout of oil and gas due to intervention from oil-rich nations. The UAE’s decision to appoint an oil company boss as the president of the climate talks may overshadow this agreement, however.
Read more at: https://www.euronews.com/green/2023/03/10/eu-agrees-to-push-for-worldwide-phaseout-of-fossil-fuels-at-cop28