The European Union (EU) is set to call for a global commitment to phase out the use of fossil fuels "well ahead of 2050" at the upcoming COP28 climate summit, as per Frans Timmermans, the EU's climate chief. Timmermans outlined three interconnected elements of this pledge during a meeting of the bloc's environmental and energy ministers.
The first component of the proposed pledge is a call to triple the annual deployment of new renewable energy between now and 2030. Timmermans emphasized the urgency of accelerating renewable energy adoption to combat climate change effectively. The second part of the pledge entails doubling the rate at which energy efficiency improves compared to the previous decade.
The final and most significant aspect of the EU's push is the aim to "phase out unabated fossil fuels well ahead of 2050." Timmermans clarified that achieving this target would involve eliminating emissions from the oil and gas sector, as well as products sold by oil and gas companies. Additionally, a complete cessation of coal usage would be necessary. Timmermans acknowledged the ambitious nature of these proposals but stressed their necessity in sending a strong signal on climate action to decision-makers, investors, and civil society.
Timmermans also addressed the role of carbon capture and storage (CCS) technology, highlighting that it should play a minimal role in the fossil fuel phaseout. He emphasized that CCS should be reserved for hard-to-abate sectors, with the burden of proof resting on the industry to demonstrate the feasibility of this approach and propose credible investment strategies in carbon abatement technologies.
The ongoing informal climate meeting of the EU's environmental and energy ministers in Valladolid precedes the COP28 summit, scheduled to take place in Dubai later this year. Sultan Al Jaber, the controversial president of the UN climate summit, is also present at the meeting. Timmermans underscored the importance of COP28 as a "paradigm shift" for climate action, citing the urgency of the situation and the need to maintain the 1.5-degree temperature limit outlined in the latest Intergovernmental Panel on Climate Change (IPCC) report.
During the summit in November, discussions on the definition of "unabated" and the role of CCS technology in the fossil fuel phaseout are expected to take center stage. However, the proposal to accelerate the deployment of renewable energy is likely to receive less resistance, with backing from Sultan Al Jaber and support from representatives of small island states, the United States, and Chile.
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