On Wednesday 13 December 2023, Greenpeace Luxembourg noted that the COP28 in Dubai has just closed with an agreement that is both historic and mixed.
Despite the hope suggested by the agreement signed on the end of the exploitation of fossil fuels, it still leaves too much room for loopholes from a real rapid reduction in their use. These include the potential for capture and the option to offset greenhouse gas (GHG) emissions.
However, Greenpeace named the agreement a historic one because, for the first time since the launch of the COPs, the text mentions a "renunciation of fossil fuels in energy systems, in a fair, orderly and equitable manner [...]”. The massive acceleration of renewable energies and the increase in energy efficiency by the end of this decade are also included. However, the role of technological solutions that have not yet proven their effectiveness (such as GHG capture or compensation) remains too significant, Greenpeace Luxembourg emphasised. The group pointed out that a truly ambitious agreement would have mentioned a more rapid elimination without possible compensation.
Despite the launch of the loss and damage fund, significant efforts remain to be developed to support the poorest countries most affected by climate change; the announced amount of $700 million does not, in fact, make it possible to shoulder the costs of the climate crisis.
For Frédéric Meys, in charge of the Let's Rebuild Tomorrow campaign for Greenpeace Luxembourg, “the populations on the front line of the climate catastrophe need more than that. They require a strong and determined commitment to a rapid, equitable and properly financed phase-out of all fossil fuels, as well as a comprehensive package of financial measures to enable developing countries to transition to renewable energy and address the worsening consequences of global warming.”
Moreover, the agreement does not explicitly address a financial contribution from the oil industry, despite its significant profits, even though it is considered a key factor in the crisis. To respond to this, more ambitious and more equitable measures must be taken by States, Greenpeace added. In this context, Greenpeace considers the end of subsidies granted to fossil fuels key to solving this issue and it welcomes the initiative of the Grand Duchy, which is committed to this path alongside other countries, including Belgium and France. According to the non-governmental organisation, the launch of new extraction projects should be stopped at all costs. This is an indispensable requirement to restrict global warming to 1.5°C, Greenpeace concluded.
