· 2 min read
illuminem summarizes for you the essential news of the day. Read the full piece on Reuters or enjoy below:
🗞️ Driving the news: The European Parliament urged a global agreement at the upcoming U.N. COP28 climate summit to phase out fossil fuels
• This call comes as part of efforts to intensify climate change action at the conference scheduled from November 30 to December 12 in Dubai
🔭 The context: The resolution by the EU Parliament, which passed with significant support, is aimed at keeping the global temperature rise below 1.5°C, as outlined in the 2015 Paris Agreement
• Current global efforts are falling short, with projections suggesting a possible 3°C rise this century
🌍 Why it matters for the planet: The European Parliament's push for a fossil fuel phase-out is critical in combating climate change
• The lawmakers also advocated for ending fossil fuel subsidies by 2025 and supporting a new climate damage fund at COP28
⏭️ What's next: The EU's stance at the COP28 negotiations may evolve, currently supporting a phase-out of "unabated" fossil fuels, which allows for continued use if emissions are captured
💬 One quote: "We need to start work and understand that we are already in the crisis of climate change" (Pär Holmgren, Green lawmaker)
📈 One stat: The resolution was passed with 462 votes in favor, 134 against, and 30 abstentions, indicating strong support within the EU Parliament
Click for more news covering the latest on energy
