End of oil age? COP28 forum ends with deal on fossil fuel phase-out

Applause, cheers, and hugs accompanied the closure of the 28th Conference of Parties (COP28) as President Sultan Ahmed Al Jaber read the final text yesterday.

Despite closing way past its scheduled time, the final plenary was well attended, with the room filled with delegates from across the globe.

Bringing the first-ever Global Stocktake (GST) to a close, the COP Presidency read through the final text, addressing the thorny issue of fossil fuel phase-out for the first time.

Mr Al Jaber lauded the agreement to address emissions and transition to renewable energy. The agreement sets ambitions to triple renewable energy and double energy efficiency by 2030.

“We have delivered a comprehensive response to the global stocktake. We have delivered a robust action plan, a balanced plan that addresses emissions, to keep 1.5°C in reach,” he said during the gathering that brought two weeks of hard-fought negotiations to an end.

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In the final text, christened CMA.5, representatives from nearly 200 countries agreed to begin reducing global consumption of fossil fuels to avert the worst of climate change, a first-of-its-kind deal signalling the eventual end of the oil age.

The text, gavelled down in the last few minutes, runs to 21 pages and has nearly 200 paragraphs. Part of it states that countries will contribute to a transition away from all fossil fuels, enabling the world to reach net zero by 2050.

Fossil fuels — oil, gas, and coal — account for about 80 per cent of the world's energy, and scientists have consistently said that a phase-out is the last best hope to stave off climate catastrophe.

This is the first time there has been an apparent reference to the future of all fossil fuels in a COP text, and Mr Al Jaber was keen to mention it, calling it ‘historic’.

“The text is built on common ground, strengthened by full inclusivity. It is enhanced, balanced, but make no mistake, a historic package. We have language on fossil fuels in our final agreement for the first time ever,” he said.

Mr Al Jaber urged countries to unite and turn the agreement into tangible action. “Any agreement is only as good as its implementation,” he said. “We are what we do, not what we say.”

Despite the loud applause at the final plenary, climate justice advocates say the text fell far short of what was needed for a fair transition by failing to include any wording on the ‘phase-out of fossil fuels’, something many governments wanted.

Mr Joab Okanda, Senior Climate Adviser at Christian Aid, said: “It is clear that the era of fossil fuels is coming to a close. We may not have driven the nail into the coffin here at COP28 but the end is coming for dirty energy. But there is a gaping hole on climate finance to actually fund the transition from dirty to clean energy in developing countries. Without that, we risk the global shift being much slower.”

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Climate Action Network International Executive Director Tasneem Essop said the road to transition away from fossil fuels is at risk due to a lack of agreement on energy transition funding.

“The COP outcome opened the road for a fossil fuel-free world, but this road is full of potholes and dangerous distractions and if allowed, could lead to a dead end,” Ms Essop said.

Criticising the new climate agreement, Mr Romain Ioualalen, Global Policy Manager at Oil Change International, said: “While the agreement calls for a global fossil fuel transition, it falls short of the full, fast, fair, and funded phase-out that communities urgently need. Rich nations must pay their fair share to enable a just transition in the Global South. Disgracefully, the agreement's loopholes leave escape hatches for the fossil fuel industry, potentially undermining progress.”

Manuel Pulgar-Vidal, WWF Global Climate and Energy Lead, added: “While regrettable, the inclusion of ‘unabated’ suggests dangerous distractions like carbon capture and ‘transitional fuels’ still have room. All fossil fuels must be phased out entirely for a liveable planet.”

Congratulating the UAE team for the final text, Dr Pacifica Ogolla, Kenya’s Head of Delegation and Chief Negotiator, said: “It was a delicate balance. You know it is a fair text when both sides are equally unhappy.”

COP28 also tackled crucial issues the African Group of Negotiators raised, including water, food, health, ecosystems, infrastructure, poverty, and culture.

Through the Global Goal on Adaptation (GGA), the conference established a long-term goal for climate resilience with specific thematic priorities, providing clear targets for action.

Additionally, an annual ministerial dialogue was created to foster ongoing discussion and accountability, while developed countries will be required to report annually on their progress towards doubling adaptation finance.

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On adaptation, the conference recognised the need to significantly scale up finance beyond the doubling to meet urgent and evolving needs.

Reacting to the adaptation bit, Mr Adow Mohamed Adow, Director of the think tank Power Shift Africa, stressed the necessity for additional financial support to assist vulnerable communities in coping with climate impacts.

“Finance is where the whole energy transition plan will stand or fall,” he said.

While acknowledging the progress made in the GST, Ms Hailey Campbell, Co-Executive Director of Care About Climate, voiced youth dissatisfaction. “Despite the celebratory atmosphere, we will not applaud complacency,” she said. “The agreement lacks a clear commitment to funding a just fossil fuel phase, jeopardising our future. This is not a ‘UAE consensus’ but a ‘UAE compromise’. Our fight for a better tomorrow continues.”

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