{"id":14513,"date":"2023-11-22T11:12:44","date_gmt":"2023-11-22T11:12:44","guid":{"rendered":"https:\/\/www.esgtoday.com\/?p=14513"},"modified":"2023-11-22T17:04:22","modified_gmt":"2023-11-22T17:04:22","slug":"eu-parliament-votes-to-push-for-end-of-global-fossil-fuel-subsidies-by-2025-at-cop28","status":"publish","type":"post","link":"https:\/\/www.esgtoday.com\/eu-parliament-votes-to-push-for-end-of-global-fossil-fuel-subsidies-by-2025-at-cop28\/","title":{"rendered":"EU Parliament Votes to Push for End of Global Fossil Fuel Subsidies by 2025 at COP28"},"content":{"rendered":"\n
\n <\/div>\n\n\n\n

Lawmakers in the European Parliament voted 462-134 for a resolution outlining its delegation\u2019s position at the upcoming UN COP28 Climate Conference, which includes a call for the end of fossil fuel subsidies globally by 2025.<\/p>\n\n\n\n

COP28 is set to take place in Dubai from November 30 to December 12. In addition to calling all for an end to all direct and indirect fossil fuel subsidies, at national, EU and global levels, \u201cas soon as possible and by 2025 the latest,\u201d the resolution also supports a tangible phasing out of fossil fuels as soon as possible and a halt to all new investments in fossil fuel extraction, as well as for the global target to triple renewable energy and double energy efficiency by 2030.<\/p>\n\n\n\n

Efforts to secure global commitments to phase out fossil fuels in prior UN climate conferences have failed, with last year\u2019s COP27 agreement<\/a> only calling for an \u201cincrease in low-emission\u201d energy and renewables, and COP26 including<\/a> a pledge to \u201cphase down\u201d unabated coal use and inefficient fossil fuel subsidies.<\/p>\n\n\n\n

While the international agreement reached at last year\u2019s COP27 conference included some achievements, including a landmark deal to fund poorer countries\u2019 response to climate change-related loss and damage, it saw little progress on key climate mitigation areas, such as raised national emissions ambitions or commitments to transition from fossil fuels to cleaner energy sources.<\/p>\n\n\n\n

The text also highlights the need to increase international climate financing, with all countries asked to \u201ccontribute their fair share,\u201d particularly toward the loss and damage fund agreed to at COP27, which saw developed nations committing to set up a fund that would pay for climate-change related damage in poorer, vulnerable countries.<\/p>\n\n\n\n

In a statement following the vote, Peter Liese, Chair of the EP delegation to COP28, said:<\/p>\n\n\n\n

\n

\u201cThe European Union is financing much more than we should per capita, the problem are others, and I think we need to unite with the least developed countries, the small island states, to put pressure on those that didn\u2019t live up to their responsibilities.\u201d<\/p>\n<\/blockquote><\/span>","protected":false},"excerpt":{"rendered":"

Lawmakers in the European Parliament voted 462-134 for a resolution outlining its delegation\u2019s position at the upcoming UN COP28 Climate Conference, which includes a call for the end of fossil fuel subsidies globally by 2025. COP28 is set to take place in Dubai from November 30 to December 12. In addition to calling all for […]<\/p>\n","protected":false},"author":2,"featured_media":14514,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[36,31],"tags":[],"acf":[],"yoast_head":"\nEU Parliament Votes to Push for End of Global Fossil Fuel Subsidies by 2025 at COP28 - ESG Today<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.esgtoday.com\/eu-parliament-votes-to-push-for-end-of-global-fossil-fuel-subsidies-by-2025-at-cop28\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EU Parliament Votes to Push for End of Global Fossil Fuel Subsidies by 2025 at COP28 - ESG Today\" \/>\n<meta property=\"og:description\" content=\"Lawmakers in the European Parliament voted 462-134 for a resolution outlining its delegation\u2019s position at the upcoming UN COP28 Climate Conference, which includes a call for the end of fossil fuel subsidies globally by 2025. 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