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COP28 nations adopt first-ever climate deal to 'transition away' from fossil fuels

  • Nearly 200 countries have agreed to transition away from fossil fuels and achieve net zero by 2050 in a just and orderly manner, according to a new text approved at the COP28 summit in Dubai.
  • The agreement calls for phasing down unabated coal, tripling renewable energy capacity globally by 2030, and doubling the rate of energy efficiency improvements.
  • Some countries have expressed concerns about the lack of a "phase-out" of fossil fuels and the recognition of transitional fuels, while others consider it a historic moment in the fight against climate change.
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Forbes broke the news in Jersey City, United States on Wednesday, December 13, 2023.
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