COP27: A Year On From Glasgow Climate Pact, The World Is Burning More Fossil Fuels Than Ever
2 years, 1 month ago

COP27: A Year On From Glasgow Climate Pact, The World Is Burning More Fossil Fuels Than Ever

ABP News  

The burning of fossil fuels caused 86 per cent of all CO₂ emissions during the past ten years. The ongoing energy crisis – and the short-term responses to it by governments around the world – have made it more difficult to meet the pact’s goals of ending the dominance of fossil fuels. Fossil fuels at COP27 US and European allies pressured developing countries at COP26 to commit to bolder action to eliminate coal power, often touting natural gas as a useful transition fuel. A short-term dash for gas and coal might make sense given the shock of Russia’s invasion, but ideally, sky-high fossil fuel prices would speed up the transition to renewables. The IEA expects that demand for fossil fuels will peak within five years thanks to programs like the EU’s RePowerEU plan, the US Inflation Reduction Act, and Japan’s green transformation plan, which incentivize renewables.

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