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Nations strike deal at COP28 to transition away from 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 Reuters or enjoy below:

🗞️ Driving the news: The COP28 climate summit concluded with a groundbreaking agreement among nearly 200 countries to start reducing global fossil fuel consumption
• This unprecedented move marks a significant shift towards ending the oil age and addressing climate change

🔭 The context: This deal, achieved after intensive negotiations, is a first in the history of climate talks
• It sends a clear message to investors and policymakers about the global commitment to move away from fossil fuels, as emphasized by nations like Norway and supported by the U.S., Canada, and the EU

🌍 Why it matters for the planet: The agreement represents a critical step in global efforts to limit climate change
• It focuses on transitioning from fossil fuels in a just and equitable manner to achieve net-zero emissions by 2050, aligning with scientific recommendations

⏭️ What's next: Countries must now translate this agreement into tangible actions through national policies and investments
• The deal includes advancing renewable energy, reducing coal use, and developing technologies like carbon capture to decarbonize industries

💬 One quote: "We are what we do, not what we say, We must take the steps necessary to turn this agreement into tangible actions" (Sultan Al Jaber, COP28 President)

📈 One stat: Despite the agreement, fossil fuels still account for about 80% of the world's energy, highlighting the significant challenge ahead in transitioning to cleaner energy sources

Click for more news covering the latest on COP28

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