The COP28 agreement on transitioning away from fossil fuels is a significant rhetorical milestone, but the deal's lack of specifics and weak language on climate finance will likely limit its overall impact. This year's U.N. climate summit has ended with the signing of the first-ever global agreement to reduce all fossil fuel consumption. In the final COP28 deal announced Dec. 13 after extended negotiations, over 200 countries agreed to begin ''transitioning away from fossil fuels in energy systems, in a just, orderly and equitable manner, accelerating action in this critical decade, so as to achieve net zero by 2050 in keeping with the science.'' While it does not include language regarding a phase-out of hydrocarbons desired by Western countries and small island nations, the final agreement is still stronger than the previous draft text, which lacked any language referencing the need to reduce fossil fuel consumption. The historic agreement also...
