The Dubai summit multiplies initiatives and promises to achieve cleaner energy

The Dubai climate conference (COP28) has made public throughout the weekend numerous agreements and initiatives to accelerate commitments to decarbonize energy and achieve a cleaner energy model.

In the most far-reaching initiative, 118 governments have committed to tripling global renewable energy capacity by 2030 as part of the path to reducing the presence of fossil fuels in energy production. It remains to be seen whether this agreement will be included in the final political declaration of the summit, which is scheduled to close on December 12.

The commitment also entails “the progressive reduction of coal-based energy” and the end of financing for new coal-fired power plants.

“This can and will help the world transition away from the relentless use of coal,” said Sultan al Yaber, president of the UAE COP28 summit.

Led by the European Union, the United States and the United Arab Emirates, this agreement includes Brazil, Nigeria, Australia, Japan, Canada, Chile and Barbados among its promoters.

While China and India have expressed support for the idea of ??tripling renewable energy by 2030, neither has backed it with their signature.

Supporters of this pact, including the EU and the United Arab Emirates, want the commitment on renewable energy to be included in the final decision of the summit, which would require consensus among the almost 200 countries present.

These advances almost coincide with statements by the president of COP28, Ahmed al Yaber, in which he points out that “there is no science” that affirms that the progressive elimination of fossil fuels will allow us to achieve the objective of preventing an increase in temperature to 1 .5ºC, The Guardian reported.

In a video posted online during a debate with human rights defender and president of The Elders, Mary Robinson, the COP28 president is heard saying: “There is no science, no scenario that says that the elimination of fuels fossils is what 1.5ºC is going to achieve.” And later, she adds: “Please help me, show me the roadmap where it says that a phase-out of fossil fuels will allow for sustainable socio-economic development, unless you want to take the world back to the caves.”

More than 100 countries already support a phase-out of fossil fuels. However, the final COP28 agreement must clarify whether weaker language is used, referring to a “gradual reduction.” In any case, deep and rapid cuts are needed to bring fossil fuel emissions to zero and limit climate impacts.

Some of the countries most vulnerable to climate change insisted that the renewable targets (tripling power by 2030) must be accompanied by an agreement between countries at COP28 to gradually eliminate the use of fossil fuels in the world.

“It’s only half the solution. Compromise cannot greenwash countries that are simultaneously expanding fossil fuel production,” said Tina Stege, Marshall Islands climate envoy.

Although renewable energies, such as solar and wind, have experienced a great boost as costs have fallen, various barriers (regulation, labor limitations and supply chain problems) mean that they still have to overcome important obstacles in many countries.

Reaching the goal of 10,000 gigawatts of renewable energy installed worldwide by 2030 will also require governments and financial institutions to increase investments and address the high cost of capital that has hampered renewable energy projects in developing countries.

Africa has received just 2% of global renewable energy investments over the past two decades, the International Renewable Energy Agency said.

Other agreements, also relating to the energy sector – the source of around three quarters of greenhouse gas emissions – include the expansion of nuclear energy, the reduction of methane emissions and the blocking of private financing for energy of coal.

More than 20 nations also signed a declaration on Saturday that aims to triple nuclear energy capacity by 2050. US climate envoy John Kerry said the world cannot achieve “net zero” emissions without building new reactors.

“We are not arguing at all that this is going to be the central alternative to any other energy source,” he said. “But you can’t get to net zero emissions in 2050 without some nuclear power, just as you can’t get there without some use of carbon capture, utilization and storage.”

Global nuclear capacity now stands at 370 gigawatts, and 31 countries have reactors in operation. Triple that capacity by 2050 would require a significant increase in new approvals and funding.

COP28 President Sultan Al Jaber launched an initiative to reduce methane emissions from the oil and gas sector.

Exxon Mobil Corp. and Saudi Arabia’s Aramco are among 50 producers that have signed up to the Oil and Gas Decarbonization Charter. The world’s largest private and state-owned oil companies led this commitment to reduce emissions from their own operations.

The companies signing the pact – more than half (60%) national oil companies – committed to “carbon-neutral operations” by 2050, to end routine gas flaring by 2030 and to reduce methane emissions to almost zero.

Among the signatories is the Abu Dhabi National Oil Company (Adnoc), Abu Dhabi’s national oil company headed by the president of COP28, Sultan Al Jaber; as well as Aramco. Also included are large European companies such as Repsol, the Norwegian public Equinor and the French TotalEnergies.

The agreement will be controversial: neither company agrees to reduce oil and gas production. Their commitment focuses on limiting emissions of methane, one of the most dangerous greenhouse gases, to near zero by 2030 and stopping the routine flaring of natural gas.

Through this letter, the oil companies agreed to carry out a series of measures to cut their emissions, such as investing in renewable energy, “low-carbon fuels” and “negative emissions technologies.”

They also promise to improve transparency, through “measurement, tracking, reporting and independent verification” of greenhouse gas emissions. They also promise to reduce energy poverty and provide “safe and affordable” energy to support the development of all economies.

“I am committed to both inclusion and transparency,” Al Yaber said in statements offered to the media.

“If we want to accelerate progress across the climate agenda, we must hold everyone accountable and responsible for climate action. “We must all focus on reducing emissions and apply a positive vision to drive climate action and get everyone to act,” said the Emirati.