International Business: EU supports COP27 call to phase down fossil fuels – Gulf Digital News

International Business: EU supports COP27 call to phase down fossil fuels – Gulf Digital News

The European Union supports a call by India to phase down fossil fuel use as part of a COP27 deal, the bloc’s climate policy chief Frans Timmermans said yesterday, provided it does not weaken previous agreements on reducing the use of coal.

India, the world’s second-biggest buyer of coal, wants countries to agree to phase down all fossil fuels at the UN climate summit in Egypt, rather than a narrower deal to phase down coal that was agreed at COP26 last year.

“We are in support of any call to phase down all fossil fuels,” Timmermans told a news conference.

“But we also have to make sure that this call does not diminish the earlier agreements we had on phasing down coal, so if it comes on top of what we already agreed in Glasgow, then the EU will support in this proposal.”

Timmermans’ comments come even as the EU ramps up its quest for coal and natural gas in the near term to counter an energy supply crunch triggered by high demand and supply disruptions since Russia’s invasion of Ukraine.

The proposal could benefit India by easing the global focus on its coal use, but is also likely to face stiff opposition from developing