ROAD TO COP28: EU reiterates stance on fossil fuels phaseout

The European Council will push for a global phaseout of unabated fossil fuels -- when emissions are not captured, utilized or stored -- as its negotiating position at the upcoming UN Climate Change conference (COP28), it said.

Wording on fossil fuel phaseout will again be a contentious issue at COP28 in Dubai from Nov. 30 to Dec. 12, with some oil, gas and coal producer nations preferring to focus on carbon capture, utilization and storage.

"The transition to a climate-neutral economy will require a global phaseout of unabated fossil fuels and a peak in their consumption in this decade," the council said late Oct. 16.

EU climate ministers also called for a tripling of installed renewable energy capacity to 11,000 GW and a doubling of energy efficiency measures by 2030.

Member states were, however, divided on the wording for fossil fuels.

Countries like Denmark, France and Germany were demanding a phaseout of all fossil fuels while the likes of the Czech Republic and Hungary called for a more careful approach with a focus only on "unabated" fossil fuels.

Divergent views

The council said its position aimed for an "energy sector predominantly free of fossil fuels well before 2050, as well as of striving for a fully or predominantly decarbonized global power system in the 2030s, leaving no room for new coal power, since cost-effective emissions reduction measures are readily available."

Cooperation with developing nations was essential to address the challenges and secure the benefits of the transition, it said.

Many countries are hoping COP28 will result in an ambitious but well managed phaseout of coal and crude oil.

But key oil producers and consumers fear this approach will harm their economies, instead calling for the elimination of emissions from the sector rather than phasing out the consumption of fossil fuels.

The UN Framework Convention on Climate Change (UNFCCC) has repeatedly said phasing out of fossil fuels was urgently needed for the world to meet its Paris Agreement commitments, to limit warming to 1.5 degrees Celsius above pre-industrial levels.

Based on current national commitments, the gap to emissions consistent with limiting warming to 1.5 C in 2030 was estimated to be between 20.3 billion mtCO2e and 23.9 billion mtCO2e, it said in a recent report.

Stocktake focus

The European Council said conducting a first global stocktake of climate action and setting up more ambitious Nationally Determined Contributions were key priorities at COP28.

The stocktake will itemize what countries and stakeholders are doing or failing to do to meet Paris Agreement commitments.

"Present commitments put the 1.5 C Paris Agreement goal out of reach. The conclusion of the first ever global stocktake at COP28 will be a defining moment to assess current gaps and accelerate efforts in climate ambition and implementation," said Sara Giordano, Principal Research Analyst, S&P Global Commodity Insights.

The council urged all parties to increase efforts to integrate climate change adaptation and resilience into existing policies and strengthen existing climate finance arrangements.

COP28 President-Designate Sultan al-Jaber has been touring the world in the lead up to the event, urging governments to update their 2030 Nationally Determined Contributions targets.

Jaber has also called for the tripling of renewable energy output to 11,000 GW, the doubling of energy efficiency measures, and the doubling of hydrogen production to 180 million mt/year by 2030.