New Global Stocktake text a ‘giant step backwards’ on fossil fuels, ActionAid warns

Teresa Anderson, Global Climate Lead at ActionAid, said: “The previous COP28 draft text broke new ground in proposing a phase out of fossil fuels. To take it over the finishing line we just needed to agree the finance and fair timelines that would make the package workable for lower-income countries.  

“But instead of taking us closer to a fossil-free future, this draft takes a giant step backwards. It’s staggeringly empty of any new commitments. Instead of deciding to take action, it simply ‘recognises the need’ to phase down unabated coal and scale up renewable energy, leaving out any reference to other fossil fuels such as oil and gas. It ‘notes the need for’ finance, but doesn’t actually provide any. It legitimises debunked technologies such as carbon capture and storage. It’s a paper fan being waved at a burning house. After all the momentum and hope that has been building here, it’s horrible. It’s devastating. 

“If the biggest polluters don’t start phasing out fossil fuels now, none of us will have a safe future. With COP28 scheduled to end tomorrow, we need rich countries to agree to end their fossil dependence and provide the finance that can swing the deal and promise a safer future for billions of people.”

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