To phase out or phase down? Why the debate on fossil fuels misses key point
As COP28 nears its conclusion, a great deal of optimism and controversy is centred around the phasing ‘out’ or ‘down’ of fossil fuels. Neither term has ever been included in the negotiating text of previous COPs, hence the optimism.
But the revelation that the Organization of the Petroleum Exporting Countries (OPEC) sent private letters to its 13 members – including COP28 host the United Arab Emirates (UAE) – urging them to ‘proactively reject any text or formula that targets energy, ie fossil fuels, rather than emissions’ caused controversy. OPEC members own 80 per cent of global oil reserves.
However, this optimism and controversy appears to be missing the more important question: after we apply any such target to ‘unabated’ fossil fuels, what about ‘abated’ fossil fuels?… Seguir leyendo »