COP28 Outcome: Transitioning Away From Fossil Fuels; Half the World’s Oil and Gas Producers Sign New Pledge

The COP28 UN Climate Change Conference in Dubai has set the world on a clear path towards decarbonisation, with a pledge to transition away from fossil fuels, reduce global emissions by 43% by 2030, and accelerate emission reductions towards net zero by 2050. Additionally, world leaders have committed to tripling renewable energy capacity and doubling the rate of energy efficiency improvements by 2030.