Welcome to Energy Day aka Fossil Fuel Phaseout Day. Today is packed with new data, press conferences, expected new announcements, actions and more – all with the same goal: a full, fast, fair, and funded phase out of fossil fuels.
Today was Finance Day at the UN climate talks in Dubai, with a mixed bag of outcomes according to Oil Change International campaigners. Multilateral development bank representatives met with the COP28 Presidency, and failed to show progress in redirecting much needed finance for a just energy transition, while export credit agencies indicate a significant drop in fossil fuel support.
Leaders expressed ambition to keep Paris goals within reach, highlighted opportunities to cut emissions in every sector, and emphasized the need for a “phase down of fossil fuels in support of a transition consistent with limiting warming to 1.5°C”.
A global coalition of civil society groups organized a demonstration at the COP28 climate negotiations in UAE on “Finance Day” to demand that the Japanese government stop financing new fossil fuel projects and shift support to renewable energy. The action featured activists wearing inflatable Pikachu costumes and a slogan calling on Japan to say #SayonaraFossilFuels.