A United Nations report has called for fossil fuel exploration to cease worldwide by 2030, alongside a sharp increase in climate funding for poorer nations. The synthesis report, published ahead of the Cop28 summit in Dubai, proposes that annual financial support for developing countries hit between $200bn and $400bn by the same date.
The report, which forms part of the global stocktake process under the Paris agreement, concludes that nations remain 'way off track' in meeting their emissions targets. It stresses that greenhouse gas emissions must peak by 2025 at the latest to give any chance of limiting global heating to 1.5C above pre-industrial levels.
Simon Stiell, the UN's climate chief, described the report as offering clear targets that provide a 'north star' for action required by countries. He said it presented a major opportunity for the 'course correction' urgently needed, though he acknowledged significant divergence among nations on how to achieve the necessary changes.
Other recommendations include tripling renewable energy capacity and doubling energy efficiency by 2030. Fossil fuel phase-out has proved highly contentious, having been sidelined at the previous two UN climate summits. There is no guarantee the proposals will appear in the final Cop28 outcome or even on the official agenda.
The report will be discussed at UN technical meetings next week and at a pre-Cop gathering in Abu Dhabi later this month. Campaigners expressed concern that the United Arab Emirates, as a major oil producer, may not push for a phase-out. Catherine Pettengell of Climate Action Network UK said Cop28 must be 'a decisive moment to end the era of fossil fuels.' Harjeet Singh of Climate Action Network International called for a new global fossil fuel treaty, arguing that the industry had 'long evaded accountability' and that a just transition for workers and communities was essential.
