HISTORIC CLIMATE PACT BRINGS CURTAIN DOWN ON LANDMARK GLOBAL SUMMIT

▶ Nations to ‘transition away’ from coal, oil and gas but rich and developing countries have homework to do

The global climate deal agreed to in the UAE is a compromise package with a bit of something for everyone.

It emerged from all-night negotiations after a more than 24-hour push by rich nations, vulnerable island states and campaigners to get the whole world “transitioning away” from fossil fuels.

That is a first – although in return, there are concessions to developing countries, coal users and gas exporters that mean the fossil fuel industry retains “large footholds” for the future.

It is now up to each of the 198 countries involved to put this blueprint into action back home.

“Now all governments and businesses need to turn these pledges into real economy outcomes, without delay,” the UN’s climate chief Simon Stiell told Cop28’s closing plenary.

In 21 pages of text that were fought over line by line, everyone – the developing world included – is asked to contribute to “transitioning away from fossil fuels”.

However, there are sweeteners for countries who say they need fossil fuels – for a while yet – for revenue and economic development.

Gas is treated as a “transitional fuel”, there is no phase-out of coal, and fossil fuel subsidies are acceptable if they tackle “energy poverty”. There is a recognition of “different national circumstances, pathways and approaches”. There is also language stressing the need for funding and that developed countries “should continue taking the lead” on emissions cuts. Some campaigners, though, say the rich are offering too few specifics on finance.

“A critical test is whether far more finance is mobilised for developing countries to help make the energy transition possible,” said Ani Dasgupta, president of the World Resources Institute.

Diplomats from Europe and North America sounded content with the results of their fossil fuel offensive.

There is no suggestion that emissions cuts are a job for the biggest historical polluters alone.

The deal does, however, call for “accelerated financial support” from rich countries and scolds them for failing to deliver on a long-promised $100 billion pledge.

It warns of a “growing gap” between the money being provided to developing countries and the estimated cost of at least $5.8 trillion for them to implement green policies.

Europe and the US should not “posture as climate champions” when they are the biggest contributors to climate change and have failed to provide adequate finance, said Friends of the Earth spokeswoman Sara Shaw.

German Foreign Minister Annalena Baerbock acknowledged the deal was “just the starting point” for EU countries and that “this way can be walked only together, if we are supporting the most vulnerable here in the world, if we are providing the technologies”.

“The text of the global stocktake decision rightly stresses the need to mobilise trillions of dollars in investment to accelerate cuts in greenhouse gases, strengthen adaptation and resilience, and respond to loss and damage,” said Nicholas Stern, chairman of the Grantham Institute on Climate Change.

“That is a challenge that must now be taken forward by finance ministries and the international financial institutions, including the multilateral development banks,” Lord Stern added.

Members from small island states, which face extinction if sea levels rise too far, have been a powerful voice at Cop28.

In a closing message, the small island alliance warned of loopholes that could undermine the fossil fuel push.

The world must take actions that “meet the magnitude of the climate crisis, that meet the expectations that the world has of us, and that meet what is needed to secure the future of the coming generations,” said lead negotiator Anne Rasmussen.

Aside from efforts to slow global warming, vulnerable countries also need funding to adapt to a hotter climate and deal with disasters that may no longer be stopped.

Cop28’s first-day loss and damage deal creates a fund to meet some of these costs.

On adaptation – stepping in with things like flood defences before loss and damage occurs – there is a separate Cop28 decision on a “global goal” to protect water, food, health, biodiversity and cultural heritage.

In the stocktake there is “very good language” on scaling up adaptation finance, said Gabrielle Swaby of the World Resources Institute.

Many described the Dubai deal as marking the “beginning of the end of the fossil fuel era”.

Still, Mr Dasgupta said the text “contains some large footholds for the fossil fuel industry”. There is agreement “that transitional fuels can play a role in facilitating the energy transition” – meaning natural gas. Russia, China and Iraq were among those who sought this language.

Further agreements would be needed to “ensure murky concepts like ‘abatement technologies’ deliver real climate progress”, said Anusha Mata, policy adviser at think tank E3G.

Despite the deal, “oil and gas are going to be used for decades to come”, said British negotiator Graham Stuart.

One message from the global stocktake has long been clear – the world is “not yet collectively on track” to limit global warming to 1.5°C above pre-industrial levels to stave off the worst effects of climate change.

The fossil fuel deal “can ... become a historic step ... if a massive drawdown of coal, oil and gas really happens worldwide in the coming years”, said Christoph Bals of lobby group Germanwatch.

Now all governments and businesses need to turn these pledges into real economy outcomes, without delay SIMON STIELL UN climate chief