The clean energy sector faced challenges in 2023, but 2024 brings hope. Brands show commitment to sustainability, climate change gains more attention, and clean energy remains resilient despite obstacles. Stay mindful of the climate crisis but remain hopeful during the festive season.
Despite of a deal at COP28 OPEC members still hangs on to the fairy-tale that fossil fuels will last forever.
The UN’s climate talks almost collapsed over the phrasing of reducing fossil fuel usage. While nearly 130 countries supported the more assertive ‘phasing out’ language, it was replaced by the softer option, ‘phasing down’, due to opposition from economies heavily reliant on fossil fuels. Despite the compromised language, the deal marked a first-time indication that the fossil fuel industry’s days are numbered. However, critics argue it falls short of action necessary to avoid severe climate change impacts.
Former US Vice President Al Gore criticized COP28 hosts, the UAE, for appointing the head of their national oil company as COP president. Gore highlighted that UAE’s greenhouse gas emissions rose by 7.5% in 2022 and questioned the participation and influence of fossil fuel companies in climate negotiation.
As the UN’s COP28 climate summit began, the WMO confirmed 2023 is on track to be the warmest year on record, approaching the 1.5°C target set in the Paris Agreement. The report urged urgent emissions reduction amid escalating climate impacts.
COP28 will be judged on its solutions to questions of climate finance – for mitigation, adaptation, and loss and damage – all of which are deeply contentious issues.
British actress Olivia Colman features in a Make My Money Matter campaign film, highlighting that £88 billion of UK pension savings is invested in fossil fuels.
Ahead of the COP28 climate summit, UN scientists warn that the world is likely to heat by 3 degrees C this decade, double the target set in the 2015 Paris Agreement. This temperature increase could lead to irreversible changes, such as melting ice sheets and drying rainforests.
On the eve of COP28, the UN’s World Meteorological Organization warns of continued growth in greenhouse gases, linking it to increased extreme weather events. The agency’s Secretary-General urgently calls for reduced fossil fuel consumption.
The Net Zero Tracker found that half of the world’s 2000 largest companies aim for net-zero emissions by mid-century, yet only a small fraction meet UN guidelines. Inadequate targets and rising contention create a battleground ahead of the upcoming COP28 UN climate summit.
A greener life, a greener world 