200 call for global fossil fuels phase out pledge at COP28

Dubai, UAE, where COP28 is being held. Credit: Aleksandar Pasaric
Dubai, UAE, where COP28 is being held. Credit: Aleksandar Pasaric
Some of the world’s largest companies, including Bayer, Capgemini, Coca-Cola and Heineken, have signed the letter coordinated by We Mean Business Coalition

A letter released ahead of COP28 in Dubai has applied a substantial amount of pressure on governments and other highly-influential administrations to commit to extreme measures to tackle the ever-growing issue of fossil fuels.

The 204 companies that have attributed their names to the cause — which is calling for countries to agree to a full phase-out of all fossil fuels — represent more than US$1.5 trillion in global annual revenue and include industry giants from electronics, automotive, hospitality and food and beverages sectors, including Nestlé, Capgemini, eBay, Unilever, ReNew, Bayer, JLL and Heineken.

COP28 is taking place in the UAE’s most populous city between 30 November and 12 December 2023.

COP28: Who is behind the letter calling for a phase-out of fossil fuels?

Youtube Placeholder

The letter, addressed to the heads of state attending COP28, was coordinated by non-profit We Mean Business Coalition and its partners through the Fossil to Clean campaign. The movement says that, with bold business and political leadership, as a collective individuals, businesses and leaders can scale clean energy and end reliance on fossil fuels.

“We, the undersigned companies, celebrate the exponential growth of solutions that have made clean energy cheaper and more accessible than ever before,” the letter reads. “However, global emissions continue to rise because we haven’t addressed the primary cause of climate change: the burning of fossil fuels.

“Our businesses are feeling the impacts and cost of increasing extreme weather events resulting from climate change. We recognise the need to transition in a way that safeguards our future collective prosperity on a liveable planet. That means reducing our emissions, adopting clean solutions and reducing our use of fossil fuels to limit global heating in line with the Paris Agreement’s ultimate goal of 1.5°C.

Youtube Placeholder

“We have an important role to play in sending a clear signal about our future energy use, which is rapidly becoming cleaner through renewables. We are taking action and working toward phasing out our use of fossil fuels. That is why we are setting science-based targets, developing climate transition action plans, investing in net-zero solutions and disclosing our progress. Climate action is good for business now and in the future.”

The document goes on to urge for collaboration between businesses and policymakers to secure capital, action net-zero targets and set enabling conditions, policies, regulations and investments for a just clean energy transition to seek outcomes “that will lay the groundwork to transform the global energy system towards a full phase-out of unabated fossil fuels and halve emissions this decade”.

The open letter laying out the demands for a fossil fuel phase out first launched in October and had initial backing from more than 130 companies, which has gained momentum in the run up to the annual UNFCCC event.

Sony, Virgin Media O2, DHL and Coca Cola Europacific Partners are among the most recent signatories of the letter.

Will a commitment to phasing out fossil fuels come out of COP28?

A whole host of countries have previously shared their support for a final agreement from the UAE-hosted talks to include a commitment to phasing all fossil fuels worldwide. However, the stringent measure is expected to be met with fierce opposition from countries who are oil and gas-producing giants.

Speaking to The Times, former UK Prime Minister and Chair of green organisation Aldersgate Group Theresa May urged the UK government to stop approving new domestic oil and gas fields as advised by leading scientists and field specialists.

“I take a different view from the government on the oil and gas licences,” she said. “This is about a phase-out and, ultimately, that is what it has to be about in terms of fossil fuels.”

*******************************************

For more energy insights check out the latest edition of Energy Digital Magazine and be sure to follow us on LinkedIn & Twitter.

You may also be interested in Sustainability Magazine and EV Magazine

************************************************

Sustainability LIVE Net Zero will be hosted live from the QEII Centre, London on the 6th and 7th of March, and streamed globally via our virtual event platform Brella. Sustainability LIVE Net Zero will delve deeper into the strategies, innovations, and collaborative efforts propelling us toward a net-zero future. The conference and exhibition gives the opportunity to connect with like-minded peers and actively contribute to crafting a sustainable future.

Following Sustainability LIVE Net Zero, viewers can also sign up for Sustainability LIVE Dubai, Singapore and New York.

Sign up to the The Global Sustainability & ESG Awards 2024, coming to London on the 10th September 2024.

************************************************

BizClik is a global provider of B2B digital media platforms that cover Executive Communities for CEOs, CFOs, CMOs, Sustainability Leaders, Procurement & Supply Chain Leaders, Technology & AI Leaders, Cyber Leaders, FinTech & InsurTech Leaders as well as covering industries such as Manufacturing, Mining, Energy, EV, Construction, Healthcare + Food & Drink.

BizClik – based in London, Dubai, and New York – offers services such as Content Creation, Advertising & Sponsorship Solutions, Webinars & Events.

Share

Featured Articles

CGG, now Viridien, Providing Data-Driven Earth Science

Longstanding French geoscience and technology company CGG has rebranded as Viridien, pivoting to high-growth areas like HPC and AI solutions

Equinix Data Centre Heat Warms Buildings and Swimming Pools

The Equinix Heat Export programme unlocks the value of residual heat generated in its International Business Exchange (IBX) data centres

GE Vernova’s CEO of Offshore Wind Jan Kjærsgård Steps Down

Following three years in the position of Offshore Wind CEO at GE Vernova, Jan Kjærsgård announced he stepped down as of 7 June

Celebrating World Environment Day: ‘Our Land, Our Future’

Sustainability

Scientist Claudia Sheinbaum: Mexico’s First Female President

Renewable Energy

Waste Heat From Google Data Centre Warming up Finnish Homes

Technology & AI