Readers’ Voice
Shift from fossil fuels must be fair
Climate talks at COP-28 culminated with a landmark deal that is being hailed as the “beginning of the end of the fossil fuel era.” The deal paves the way for the world to transition away from fossil fuels in a just, orderly, and equitable manner to achieve net-zero emissions by 2050. However, where is the money to help poor developing economies transition away from dirty fuels? The COP-28 agreement appears to absolve developed nations of their responsibility for phasing out their fossil fuel use in this critical decade.
While developing countries, still dependent on fossil fuels for energy, income, and jobs, are left without robust guarantees for adequate financial support in their urgent and equitable transition to renewable energy. During the climate talks at COP-28, the middle-income developing countries were uncertain about the phase-out of fossil fuels. Nigeria, Uganda, Colombia, and others pointed out that they needed revenue from the sale of coal, oil, and gas to ensure they could pay for the transition to greener energy. Likewise, several other developing countries, including Bolivia, Cuba, China, and others, showed dissatisfaction with the text of the deal on fossil fuels, stating that it eroded the principle of equity and climate justice.
In 2010, industrialised nations like the US pledged to give $100 billion each year by 2020 to help developing states adapt to climate change and transition away from dirty fuels. However, experts assert that $100 billion is still far short of climate finance that’s really needed.
Therefore, the polluting countries must deliver adequate funding to achieve a just and equitable transition away from ignoble fuels. The president and CEO of the World Resource Institute, Ani Dasgupta, summed it up aptly: “the COP-28 outcome opens the road for a fossil fuel-free world, but this road is full of potholes, dangerous distractions, and, if allowed, could lead to a dead end. The shift from fossil fuels must be fair and fast, and no one can be left behind.”
Asif Raihan
By email
