Advancing a Fair and Funded Transition Away from Fossil Fuels at COP30

At the 28th United Nations Climate Change Conference (COP28) in 2023, countries for the first time agreed to “transition away from fossil fuels in energy systems, in a just, orderly and equitable manner.” Yet, since then, global fossil fuel production and use has continued to increase, while energy transition finance (currently USD 2.2 tn/yr) has fallen far short of needs ($5.7 tn/yr).

The outsized responsibility of Global North countries is clear: Oil Change International analysis shows that just four Global North countries, the U.S., Canada, Australia, and Norway, increased their oil and gas production by nearly 40% since the Paris Agreement while production in the rest of the world combined declined by 2%.

The report recommends that governments lead the fossil fuel phase-out to ensure it is rooted in justice and equity.

To implement the Paris Agreement and the COP28 commitment to transition away from fossil fuels, Global North countries must:

• Halt their fossil fuel expansion and plan a phase-out in line with 1.5°C
• Deliver on their legal obligations to provide climate finance for a just energy transition in the Global South and support changes to global finance rules that act as a barrier to transition

To advance a fair, full and funded fossil fuel phase-out at COP30, all governments must:

• Support the operationalization of the COP28 commitment to transition away from fossil fuels by launching a formal process for countries
• Increase good quality public funding for a just energy transition as well as other mitigation priorities, adaptation, and loss & damage
• End fossil fuel finance and make polluters pay
• Support a just transition for affected workers and communities and build inclusive, equitable and resilient energy and industrial futures
• Strengthen the effectiveness of the UNFCCC in supporting a just energy transition

Download the Briefing