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Oil and Gas Industry News

Reacting to the adoption of the outcome document, UN chief António Guterres said that mention of the world’s leading contributor to climate change comes after many years in which the discussion of this issue was blocked.

He stressed that the era of fossil fuels must end with justice and equity.

“To those who opposed a clear reference to a phaseout of fossil fuels in the COP28 text, I want to say that a fossil fuel phase out is inevitable whether they like it or not. Let’s hope it doesn’t come too late,” added the Secretary-General.

The latest edition of the annual UN climate conference has been running in Dubai, the largest city in the United Arab Emirates, since 30 November. 

COP28 had been scheduled to close on Tuesday, but intense overnight negotiations on whether the outcome would include a call to “phase down” or “phase out” planet heating fossil fuels like oil, gas and coal forced the conference into overtime.

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