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COP28 Reaches Historic Deal on Fossil Fuel Transition

On December 13, COP28 concluded with an overtime session where nearly 200 countries came together to agree on transitioning away from fossil fuels. While the stronger demand to \"phase out\" fossil fuels was ultimately omitted, this agreement marks a significant milestone in the global effort to combat climate change.

The consensus emphasizes that the transition must be carried out in a \"just, orderly, and equitable manner,\" highlighting the importance of fairness in the shift away from fossil fuels. This approach recognizes the principle of \"common but differentiated responsibilities,\" where fossil-fuel producers and consumers are expected to make substantial cuts to mitigate environmental impact.

Developing countries have voiced that the developed world should bear a larger share of the burden. Historical emissions data underscores this stance, with developed nations responsible for 79 percent of carbon emissions between 1850 and 2011. The United States alone accounted for 20 percent by 2021, and collectively, countries like the U.S., Canada, and those in Western Europe contribute significantly to global greenhouse gas emissions both in total and on a per capita basis.

Despite these responsibilities, tangible actions from developed nations have been limited. Jeffrey Sachs, a professor at Columbia University, pointed out the strong influence of oil, coal, and gas lobbies in U.S. politics, hindering clear public policies on climate action. Similarly, Gaston Browne, Prime Minister of Antigua and Barbuda, criticized the prioritization of profits over the well-being of people and the planet.

The commitment of developed countries to mobilize $100 billion annually to support developing nations in reducing emissions and adapting to climate change remains unmet. By 2020, only $83.3 billion was mobilized, and the actual value of spending was significantly lower, leading to feelings of betrayal among developing nations.

Hindou Oumarou Ibrahim, President of the Association for Indigenous Women and Peoples of Chad, emphasized the necessity of developed nations fulfilling their financial commitments, stating, \"We cannot anymore accept the talk and commitment without the real action that is following.\" Mary Robinson, former President of Ireland, echoed the sentiment, highlighting the importance of trust and the fulfillment of promises.

The transition away from fossil fuels is essential, but it must not impede the development of emerging economies. Ensuring a just, orderly, and equitable transition is crucial for maintaining global trust and achieving sustainable growth for all nations.

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