by Sven Harmeling, Head of Climate at CAN Europe
As the world looks towards COP 29, the issues of climate finance and a fossil fuel phaseout, as part of a just energy transition, are ever more crucial. WithUN General Assembly, the UN Summit of the Future, and the Global Renewables Summit all taking place in September, there are multiple opportunities to reiterate demands and escalate public pressure to compel governments, international institutions and corporations to take action.
In New York, in a special summit connected to the UN General Assembly on 22 and 23 September, governments are expected to adopt a “Pact for the Future” which may (or may not) reiterate the call for an accelerated transition away from fossil fuels that was made at last year’s UN climate summit COP28. The EU was a key proponent of such an agreement.
To still achieve the global goal of holding climate warming to within 1.5 degrees celsius above pre-industrial temperatures, rapidly and fully phasing out of fossil fuels, which are at the root of the climate crisis, is indispensable. While the agreement from COP28 does not name this pathway explicitly, it reflects the required emission pathways of reducing emissions globally by 43% by 2030 and by 60% by 2035, compared to 1990 levels. Industrialised countries and historic emitters must take the lead. While the COP28 outcome signalled a consensus to move away from fossil fuels in the future, it however fell short in providing the fair scale, clarity and speed we truly need to tackle the climate emergency.
What about the “Pact for the Future”? According to Climate Change News fossil fuel transition is back in the latest text. Since the previous version seemed to contain too many concessions for the fossil fuel lobby, there was a large pushback from civil society and key stakeholders, urging not to ignore the scientific necessities. How could a Pact for the Future not urge for the transition away from fossil fuels at a time when the climate crisis already leaves devastation and human suffering in more and more parts of the world, undermining livelihoods and destroying precious ecosystems?
This call is not just about saying NO to fossil fuels, the major source of the rapidly unfolding climate crisis. It is even more so about saying YES to better solutions, most notably promoting renewable energy use and energy efficiency. COP28 endorsed the goals of tripling RE and doubling EE improvement rates by 2030. Concrete cooperation to accelerate towards these goals (and where possible overachieve them) must now accelerate. We need a much bigger demonstration of solidarity through partnership, equitable taxation, and finance, and concrete commitments to support the energy transition as well as adaptation in those regions of the world. There are a number of critical steps which civil society organisations have laid out for a Global Week of Action that need to be taken in an “all hands on deck” approach:
- No new fossil fuels – no new finance public or private, no new approvals, licences, permits, or extensions.
- A rapid, just and equitable phase out of existing infrastructure in line with the 1.5C temperature limit and a global plan, like a Fossil Fuel Non-Proliferation Treaty, to ensure that each country does its part.
- New commitments for international cooperation to drastically scale up climate finance delivery and technology transfers to ensure renewable energy access, economic diversification plans, and Just Transition processes so that every country and community can phase out fossil fuels.
- Stop greenwashing and claiming that offsets, CCS, or geoengineering are solutions to the climate crisis, instead of accelerating the fossil fuel phase out.
- Hold polluters responsible for the damage they’ve caused and make sure it’s coal, oil, and gas corporations that pay reparations for climate loss and damage and for local rehabilitation, remediation and transition.
- End fossil fuel corporate capture. No to corporations writing the rules of climate action, bankrolling climate talks, or undermining the global response to climate change.
What does it mean for the EU?
The EU’s economy still relies very heavily on subsidised fossil fuels, even though significant progress has been made on renewables roll out over the last years. While coal has become largely economically unviable and is on the exit pathway in most EU countries, fossil gas still needs to be put on a similar exit trajectory. To wean off Russian gas, the EU has built up new dependencies on other suppliers, leading to a stark over expansion of LNG infrastructure in contradiction with LNG demand forecasts. The EU’s dependence comes at the cost of energy security and with high prices for consumers and citizens while fossil fuel companies continue generating billions in profits.
Nevertheless, emergency gas demand reductions implemented by Member States in response to the crisis have proven to be very effective and brought down EU gas demand by almost 20% between 2022 and 2024.
From an international perspective, the big responsibility lies on the EU to translate the COP28 outcome on transitioning away from fossil fuels in accordance with the 1.5°C limitation goal into ambitious work at home and in its cooperation abroad. The EU’s responsibility extends beyond its borders. As a key economic and financial hub, Europe must not only phase out its own fossil fuel consumption but also play a leading role in supporting other countries—particularly in Latin America, Africa, and Asia—in achieving an equitable phaseout. The EU must leverage its influence to ensure that its financial centres are no longer havens for fossil investments and that European companies operating internationally respect the rights and needs of nature and local communities, prioritising well-being over profit. This entails the EU voting in favour of the new UN Tax Convention, to ensure high-net worth persons, and fossil fuel companies pay their fair share, wherever they choose to locate their operations. Only by transforming its global footprint can the EU truly support a just transition on a global scale.
To further clarify the trajectory from its 2030 emission reduction target towards its legally binding goal of reaching climate neutrality in 2050, the EU has recently kicked off its political process to determine a 2040 target. This policy process is also reflected in the European Commission President’s new Political Guidelines for the 2024-2029 policy cycle which promises to propose amendments to the European Climate Law for a 90% reduction target by 2040 within the first 100 days of the Commission’s term.
While it is important to address this next step in the journey towards net zero emission, in CAN Europe‘s view, it is critical to plan to achieve the latter already by 2040, so to bring forward that goal in light of the EU’s fair share for accumulated greenhouse gas emissions. This would also respond to the call by UN Secretary General Antonio Guiterres on developed countries to bring forward their climate neutrality goals to 2040 as part of the global efforts to tackle the climate crisis. CAN Europe expects concrete fossil fuel phase out deadlines for Europe at the soonest: phase out from coal by 2030, from gas by 2035 and from oil by 2040.
The Commission and the soon to be announced Commissioners in charge of key portfolios such as energy, climate,. need to take on these tasks early-on. In CAN Europe’s new Energy Compass they find more detailed guidance on how to provide clarity and predictability for the energy sector while ramping up the many proven solutions that already exist to increase renewables and reduce demand reduction. All these steps need to be embedded into a strategy of ensuring a socially just transition and closing the investment gap that yet has been hindering a sufficient acceleration of the energy transition away from fossil fuels.
