What does Lego tell us about the COP28 climate deal?
Dec 16, 2023
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COP28 reached a "historic" and "unprecedented" conclusion to "move away from fossil fuels"; campaigners argue it doesn't go far enough; importance of national policies in transitioning away from fossil fuels; difficulties in utilizing hydrogen as a replacement for fossil fuels
Transitioning away from fossil fuels requires finding alternatives for essential industries like LEGO blocks made from oil.
The inclusion of a loss and damage fund, with $792 million pledged, is a significant win for vulnerable nations, but trillions of dollars are needed to address challenges faced by small island developing states.
Deep dives
Key Points of the UAE Consensus
The recently concluded climate talks in Dubai resulted in the UAE consensus, which highlighted several key points. Countries will need to transition away from fossil fuels in energy, although there was debate over the use of the term 'phase out.' The agreement calls for a tripling of renewable energy and a doubling of energy efficiency by 2030. Countries must also establish new adaptation plans by 2025 to address the impacts of the climate crisis. Additionally, the creation of a loss and damage fund was a significant outcome, with pledges amounting to $792 million. However, more funding, amounting to trillions of dollars, is needed to adequately support countries affected by climate change.
Caribbean Islands' Perspective
Raquel Moses, CEO of the Caribbean Climate Smart Accelerator, expressed both satisfaction and concern regarding the UAE consensus. While acknowledging that the agreement fell short of expectations, Moses considered it a remarkable achievement given the urgency of the situation. She highlighted the inclusion of loss and damage funding, with $792 million pledged, as a significant win for vulnerable nations. Moses emphasized the importance of the fund in addressing the devastating impact of climate change on Caribbean islands, including hurricanes, flooding, and droughts. However, she also stressed the need for trillions of dollars to truly address the challenges faced by small island developing states.
Challenges in Transitioning Away from Fossil Fuels
Sky's economics editor, Ed Conway, presented insights into the difficulty of transitioning from fossil fuels. He highlighted the example of LEGO, explaining that finding alternatives to petrochemical-based products, such as LEGO blocks made from oil, remains a challenge. While renewable energy, like solar power, is becoming cheaper, certain industrial processes still heavily rely on fossil fuels. Conway suggested that ambitious goals, like a complete phase-out of fossil fuels, may not be realistic due to the lack of effective alternatives for essential industries. He also discussed the issues surrounding hydrogen as a potential alternative and highlighted the need for gradual shifts in investment and energy policies to navigate the complex transition process.
This week COP28 reached a "historic" and "unprecedented" conclusion to "move away from fossil fuels".
While leaders are hailing the agreement a breakthrough, campaigners argue it doesn't go far enough and it should phase out fossil fuels entirely, but how realistic is that ambition?
On this week's ClimateCast Tom Heap is joined by Sky's economics editor Ed Conway who explains why the answer to our fossil fuel reliance starts with a piece of Lego.
They discuss what happens to fossil fuels now that deal is in place and what a net-zero 2050 might look like, and how we get there.
Tom is also joined by Racquel Moses, CEO of the Caribbean Climate-Smart Accelerator, who speaks about the enormous impact the climate deal with have on small island developing states for decades to come.
Producers: Emma Rae Woodhouse Editor: Paul Stanworth
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