Citizens' Climate Lobby UK

Category: COP28

  • What happened at COP28?

    What happened at COP28?

    This is an extract from the slideshow delivered by Cathy Orlando, CCI program director on the 20th December 2023 giving the CCI analysis of the outcome of COP28. The worst case scenario – that fossil fuels would get a free pass and the pledge to work to keep temperature rises within 1.5 Celsius would be dropped, was averted.

    CCI applauds the eventual operationalisation of the Loss and Damage Fund, the declarations on tripling renewables and doubling energy efficiency, and tackling the fossil fuel subsidy issue. Highlighting the role of agricultural systems and the effects of climate change on human health and the natural world as well as the need for the transition to be just were also welcome signs of progress and proof that COP conferences, while not perfect, are important and necessary.

    CCL UK agrees that COP28 confirms that CCI’s campaigning for the reform of financial systems is the path forward.

    Governments’ 2030 targets will lead to 2.5°C of warming by the end of the century: 0.1°C higher than last year. This change is due to weak existing targets rather than any major shifts in new NDC updates: we take the level of emissions anticipated under current policies for those countries that we expect to overachieve their weak 2030 targets.

    Since COP28 the FFNPT now has 12 nation states signed up, in September the State of California became the largest economy to endorse the call (the 5th largest economy in the world and the largest sub-national economy)…… California Senate Majority Whip Senator Lena A Gonzalez (D – Long Beach), said: “It is essential that we commit once and for all to ending our reliance on fossil fuels. People around the world, especially low-income people of color, are suffering the adverse health impacts of fossil fuel pollution, from asthma to cancer. The recent devastating fires and hurricanes emphasize the urgency of taking action, to prevent further extreme weather changes. The science has been clear for decades—fossil fuels are responsible for the climate crisis. We can prevent further harm to our communities, and that is why I am proud that California has now been added to the growing list of governments endorsing the Fossil Fuel Non-Proliferation Treaty. It is time for our nation to be a part of the solution, to forge strong unity and commitment to phasing out the use of fossil fuels.”

    France and Kenya formally launched the ‘Taskforce on International Taxation to Scale Up Development, Climate, and Nature Action‘ with Barbados, Antigua, Barbuda, and Spain signing on as members.

    CCI and CCL UK members will continue to educate and campaign for the solutions that will enable the world’s financial resources to be unlocked to ensure a liveable future in 2024.

  • When they say we need fossil fuels…Citizens’ Climate International Laser Talk, November 2023

    When they say we need fossil fuels…….The primary driver of inflation around the world is fossil fuels.  Economies are addicted to fossil fuels at every level: mobility, energy production, agriculture and goods production. When the prices of oil and gas go up, every other price tends to go up. Actually, high fossil fuel prices are historically inseparable from inflation and economic crises. Mark Zandi, chief economist at credit rating agency Moody’s, said in an article for Vox that “every recession since World War II has been preceded by a jump in oil prices”. And there is a term for it: fossilflation.

    Factors driving fossil fuel prices are many, and diverse. Most of the time, though, these come directly from producing countries, which raise and lower production, thus flooding or drying up the market. This is often used as a political tool, driving millions of people into despair. Here is just a sample of the many ways of how fossilflation happens:

    1. The market-rigging actions of the OPEC Plus cartel (including Russia);
    2. Profiteering on energy supply disruptions due to Russia’s invasion of Ukraine;
    3. Climate damages (a.k.a. climateflation) Extreme weather, climate and water-related events caused almost $1.5 trillion of economic losses in the decade to 2019, up from $184 billion in the 1970s, according to a World Meteorological Organization (WMO) report.
    4. Embedded energy costs across all classes of consumer products and business services;
    5. Food system effects including embedded fossil fuel costs and climate damage;
    6. Embedded climate risk and liability costs;
    7. Sovereign debt stresses driven by fossil fuels, including:
      a. Public spending and sovereign debt burdens resulting from disaster response;
      b. Direct spending on disaster response;
      c. Extremely high, punishing interest rates linked to that spending compelled by actions a country did not initiate or decide;
      d. All-time record fossil fuel subsidies ($7 trillion), linked to rigged fossil fuel price spikes;
      e. Public spending to compensate consumers for unaffordable price shocks linked to higher embedded energy costs.

    There is one solution: move away from fossil fuels. We need to do it fast, and we need to do it fairly. That is why at COP 28, Citizens’ Climate International is linking arms with many organisations and calling for a fossil fuel phaseout.

    By breaking free of coal, oil and gas, and replacing them with renewable energy sources, we will protect our planet and our economy.

    Summary

    The primary driver of inflation around the world is fossil fuels. In fact there is a term for it: fossilflation. There is a simple solution: move away from fossil fuels. We need to do it fast, and we need to do it fairly.

    That is why at COP 28, Citizens’ Climate International is linking arms with many organisations and calling for a fossil fuel phaseout. By breaking free of coal, oil and gas, and replacing them by renewable energy sources, we will protect our planet and our economy.