Historic Agreement at COP 28 – A Shift Away From Fossil Fuels and a Call to Action

一    Tiffany McGrath
|    December 17, 2023

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Historic Agreement at COP 28 Dubai – A Shift Away from Fossil Fuels and a Call to Action 

COP28 marks a turning point in the fight against climate change, with the final agreement for the first time calling for a move away from fossil fuels. This is a major victory for activists and a sign that the world is finally starting to take the issue seriously. However, there is still much work to be done to turn these global ambitions into local actions. 

As COP28 came to a close key takeaways were evident and unanimously agreed upon by many commentators. 

  • Historic Agreement: COP28 marks the first time an agreement explicitly calls for a global transition AWAY FROM fossil fuels, a significant step towards achieving the 1.5°C goal. 
  • Momentum Builds, but More Needed: While progress is evident, leaders must increase ambition and deliver on existing commitments to close the gaps in goals, finance, and adaptation. 
  • Action Beyond Agreements: Beyond the final text, COP28 saw concrete actions, including: 
    • Renewable Energy: Over 100 countries pledged to triple renewable energy use by 2030. 
    • Loss & Damage: The Loss and Damage fund became operational, providing financial support for vulnerable countries impacted by climate change. 
    • Decarbonization: Major oil and gas players committed to reducing emissions and methane leaks. 
    • Food & Land-Use: Over 100 countries signed a declaration to address the role of food and land-use changes in carbon emissions. 
    • Focus on Implementation: The next steps involve translating commitments into real-world action.  
  • Decarbonizing Hard-to-Abate Sectors: Companies can start today by accelerating decarbonization in sectors like heavy industry and transportation. 
  • Scaling Up Green Businesses: Incumbents, investors, and start-ups can collaborate to scale up new green businesses and innovative climate technologies. 
  • Mobilizing Investment: The financial sector can play a crucial role by deploying capital at scale to support transformative climate solutions. 

 Going Forward: 

  • Maintaining Momentum: COP28 sets the stage for future action, with a clear vision of achieving the 1.5°C goal and closing the ambition, finance, and adaptation gaps. 
  • Financing Innovation: Start-ups and green technologies require significant investment and support. Initiatives like the GBB100 program aim to bridge the gap and accelerate innovation. 
  • Moving Beyond Announcements: Accountability and collaboration are key to translating commitments into action. COP can facilitate this process by providing a platform for stakeholders to work together and ensure progress. 
  • Cross-Industry Collaboration: Silos must be broken down to unlock the trillions needed for the net-zero transition. Governments, philanthropies, banks, and investors must work together to define and build a new climate economy. 

Overall, COP28 marked a significant milestone in the fight against climate change. While challenges remain, the agreement and concrete actions taken represent a step in the right direction. The path forward requires continued momentum, focus on implementation, and collaboration across sectors to achieve a sustainable future. 

Ready to take action?

Here are 3 ways you can make a difference today:

  1. Join a local climate action group and push for ambitious policies in your community.
  2. Support green businesses by choosing sustainable products and services.
  3. Adopt sustainable practices in your own life, such as reducing energy consumption, choosing renewable energy options, and minimizing waste.

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