COP28 UAE: Fossil fuels, finance remain key hurdles in the negotiation text at the climate summit

COP28 UAE: Fossil fuels, finance remain key hurdles in the negotiation text at the climate summit

With the clock ticking away, negotiators at the COP28 UN climate summit are saying that a just and equitable phase out of fossil fuels and financing the climate urgency in the Global South are key hurdles that need to be overcome in the negotiating text.

“There has been language before on finance and a starting point is to acknowledge that $4 trillion are needed by 2030 to address the climate needs of the Global South,” said Andreas Sieber, Associate Director of Global Policy and Campaigns at 350.org, an organistion championing the phase out of fossil fuels and adopting renewable energy.

“Fossil fuels, or a phase out of it, is one crunch issues in the negotiations. Finance and the global goal for adaptation is another. We need a fair outcome. The Global South can’t be ignored under small fine print,” he told Zawya.

“Rich countries have to take the lead, developed countries need to take the lead, in this rapid decline of fossil fuels. And it has to be done this decade. These are some of the words that remain issues,” said Sieber. “A phase out of fossil fuels as opposed to a phase out of fossil fuel emissions is a key element to