Advancing a Fair and Funded Transition Away from Fossil Fuels

The document argues that despite the COP 28 agreement to transition away from fossil fuels, production continues to rise, led by wealthy nations. It calls for COP 30 to establish differentiated phase-out timelines based on historical responsibility, mandate annual progress reports, and launch the Belém Action Mechanism for Just Transition. The briefing emphasizes that the transition is economically feasible if Global North countries redirect fossil fuel subsidies and tax polluters to mobilize over USD 5,000 billion annually for climate finance, prioritizing grants over loans to avoid exacerbating debt in the Global South.

• Global fossil fuel production and consumption have continued to increase since COP 28, with the United States and Canada leading the expansion of oil and gas extraction.
• Current climate finance is inadequate and poorly structured, often provided as loans that worsen the debt crisis in the Global South; by 2030, USD 1,800 billion per year is needed, while the adopted USD 300 billion target and USD 1,300 billion mobilization target for 2035 fall short.
• Rich countries could mobilize over USD 5,000 billion annually for climate finance by ending fossil fuel subsidies, taxing polluters and the ultra-wealthy, and reforming global financial rules.
• The document identifies several 'dangerous distractions'—technologies that perpetuate fossil fuel use and divert funds from real solutions—including carbon capture and storage (CCS), fossil-based hydrogen, carbon credits, and geoengineering.
• To ensure a just transition, the briefing proposes the creation of the Belém Action Mechanism for Just Transition at COP 30 to coordinate international cooperation, fill implementation gaps, and facilitate non-debt-inducing finance.
• The briefing recommends that COP 30 adopt differentiated timelines for phasing out fossil fuels based on wealth and historical responsibility, and mandate an annual UNFCCC report on global progress.

APA

Jones, N., van der Burg, L., Ioulalen, R., Tucker, B., Douo, M., & Khalil, S. (2025). Advancing a Fair and Funded Transition Away from Fossil Fuels. International Institute for Sustainable Development. https://www.iisd.org/system/files/2025-06/advancing-fair-funded-transition-fossil-fuels.pdf

Chicago

Jones, Natalie, Laurie van der Burg, Romain Ioulalen, Bronwen Tucker, Myriam Douo, and Shady Khalil. Advancing a Fair and Funded Transition Away from Fossil Fuels. International Institute for Sustainable Development, 2025. https://www.iisd.org/system/files/2025-06/advancing-fair-funded-transition-fossil-fuels.pdf.

Wikipedia

{{cite report |last1=Jones |first1=Natalie |last2=van der Burg |first2=Laurie |last3=Ioulalen |first3=Romain |last4=Tucker |first4=Bronwen |last5=Douo |first5=Myriam |last6=Khalil |first6=Shady |title=Advancing a Fair and Funded Transition Away from Fossil Fuels |publisher=International Institute for Sustainable Development |date=June 2025 |url=https://www.iisd.org/system/files/2025-06/advancing-fair-funded-transition-fossil-fuels.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{jones2025advancing, author = {Jones, Natalie and van der Burg, Laurie and Ioulalen, Romain and Tucker, Bronwen and Douo, Myriam and Khalil, Shady}, title = {{Advancing a Fair and Funded Transition Away from Fossil Fuels}}, institution = {International Institute for Sustainable Development}, year = {2025}, month = jun, url = {https://www.iisd.org/system/files/2025-06/advancing-fair-funded-transition-fossil-fuels.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }