We Mean Business Coalition welcomes ‘the beginning of the end of the fossil fuel era’ as COP28 outcomes are agreed
Maria Mendiluce, CEO, We Mean Business Coalition said: “Once upon a time the world put its climate future in the hands of a petrostate and asked it to phase out fossil fuels. This isn’t the perfect fairytale ending we had hoped for, but for the first time we have a global agreement to transition away from all fossil fuels in line with the science.
“COP28 President Sultan Al Jaber wanted to deliver something historic, unprecedented, and although we called for much more, the seeds planted here in UAE will be seen by future generations as the beginning of the end of the fossil fuel era.
“Leading businesses came to COP28 with a call for the phase out of fossil fuels, the tripling of renewable capacity and doubling of energy efficiency. Their voices were loud and clear, and their courage to stand up and speak out must be applauded. But the certainty and stability they were seeking in order to tether their investment and innovation plans, will still need to be delivered through national plans.
“The vast majority of countries have been supportive of ambitious language on the phase out of fossil fuels, and even without explicit agreement to phase out at COP28, we count on these countries to take that language into their NDCs to help guide domestic investment decisions. This in turn will signal to leading businesses which countries have a clear vision and a coherent plan for scaling clean solutions and phasing out of fossil fuels.”
Notes to editors
We Mean Business Coalition is leading the Fossil to Clean campaign to mobilise businesses and governments for the decisive action needed to phase out fossil fuels and ramp up clean solutions. While recognising the great strides taken to scale-up climate solutions over recent years, the campaign highlights the continued burning of fossil fuels as the primary driver of climate change and demands immediate action from business and government. The letter to UNFCCC leaders is informed by the Fossil to Clean Principles for Global Fossil Fuel Phase-out. More than 200 businesses have signed up to a Fossil To Clean letter to COP28 President and global leaders. The letter and signatories can be found here.