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As climate talks near, calls mount for a ‘phaseout’ of fossil fuels

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By illuminem briefings

· 2 min read

illuminem summarizes for you the essential news of the day. Read the full piece on Yale Environment 360 or enjoy below:

🗞️ Driving the news: The upcoming COP28 climate summit is facing increasing pressure to address the issue of "carbon bombs," large-scale fossil fuel projects that could significantly contribute to global warming
• Activists and scientists are urging world leaders to take decisive action to phase out fossil fuels and prevent the development of these projects

🔭 The context: "Carbon bombs" refer to fossil fuel extraction projects that have the potential to release over a billion tons of CO2 emissions over their lifetimes
• These projects pose a substantial threat to global efforts to limit warming to 1.5 degrees Celsius above pre-industrial levels, a target set by the Paris Agreement

🌍 Why it matters for the planet: The development of "carbon bombs" could push the planet past critical climate thresholds, leading to more severe and irreversible impacts of climate change
• Phasing out fossil fuels and halting these projects is crucial for achieving global climate goals and protecting ecosystems and communities worldwide

⏭️ What's next: COP28 presents a critical opportunity for world leaders to commit to ending fossil fuel subsidies, investing in renewable energy, and implementing policies to phase out fossil fuels
• The success of the summit in addressing these issues will be a key determinant of global progress in the fight against climate change

💬 One quote: “The planet’s atmospheric thermostat responds to CO2, not dollars. Taking control of that thermostat will require halting the hemorrhaging of ever more fossil carbon into the atmosphere.” (Fred Pearce, journalist)

📈 One stat: "Carbon bombs" represent a significant portion of potential future CO2 emissions, with some estimates suggesting that existing and planned projects could release over 600 billion tons of CO2, far exceeding the remaining carbon budget to limit warming to 1.5 degrees Celsius

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