Fossil Fuels Face a Reckoning at the COP28 Climate Summit

A statement from World Resources Institute President and CEO Ani Dasgupta regarding the outcomes of the COP28 climate summit in Dubai, highlighting the agreement to transition away from fossil fuels and the establishment of the Loss and Damage Fund.

• The COP28 negotiations in Dubai resulted in an agreement to transition the world away from fossil fuels, establish a framework for the Global Goal on Adaptation, and activate the Loss and Damage Fund.
• The Loss and Damage Fund received approximately $700 million in early pledges during the first days of COP28, though this is described as insufficient compared to the estimated $580 billion in climate-related damages vulnerable countries could face by 2030.
• The summit's outcome includes calls to double energy efficiency, triple renewable energy, transform food systems, accelerate sustainable transport, and protect nature to move toward a new climate economy.
• The final agreement is criticized for failing to address the limitations of carbon capture technology, which the author asserts should not be used as a reason to delay the transition to renewables.
• To maintain the 1.5°C goal, emissions must be reduced by 60% by 2035, and annual climate-related finance flows need to reach $4.3 trillion by 2030.

APA

Dasgupta, A. (2023). Fossil Fuels Face a Reckoning at the COP28 Climate Summit. World Resources Institute. https://www.wri.org/news/statement-fossil-fuels-face-reckoning-cop28-climate-summit

Chicago

Dasgupta, Ani. Fossil Fuels Face a Reckoning at the COP28 Climate Summit. World Resources Institute, 2023. https://www.wri.org/news/statement-fossil-fuels-face-reckoning-cop28-climate-summit.

Wikipedia

{{cite press release |last1=Dasgupta |first1=Ani |title=Fossil Fuels Face a Reckoning at the COP28 Climate Summit |publisher=World Resources Institute |date=13 December 2023 |url=https://www.wri.org/news/statement-fossil-fuels-face-reckoning-cop28-climate-summit |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{dasgupta2023fossil, author = {Dasgupta, Ani}, title = {{Fossil Fuels Face a Reckoning at the COP28 Climate Summit}}, publisher = {World Resources Institute}, year = {2023}, month = dec, url = {https://www.wri.org/news/statement-fossil-fuels-face-reckoning-cop28-climate-summit}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }