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European Parliament Calls for Global End to Fossil Fuel Subsidies by 2025 in UN COP28 Resolution

ESGEuropean Parliament Calls for Global End to Fossil Fuel Subsidies by 2025 in UN COP28 Resolution

Lawmakers in the European Parliament voted in favor of a resolution outlining the delegation’s position at the upcoming UN COP28 Climate Conference. The resolution calls for the global end of fossil fuel subsidies by 2025, both directly and indirectly at national, EU, and global levels. It also supports a tangible phasing out of fossil fuels as soon as possible, a halt to new investments in fossil fuel extraction, and a global target to triple renewable energy and double energy efficiency by 2030. The resolution aims to secure global commitments to phase out fossil fuels, addressing areas where previous UN climate conferences have seen limited progress. The need to increase international climate financing, particularly toward the loss and damage fund agreed to at COP27, is also emphasized.

By FCCT Editorial Team

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

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