As the 28th Conference of the Parties (COP28) of the United Nations Framework Convention on Climate Change is about to come to an end on Tuesday, the fight between the parties over key wordings in the final agreement has also entered a fierce stage. It is reported that all parties participating in the meeting received the latest COP28 draft agreement released by the organizer on Monday, which lists 8 emission reduction measures that countries can take, including reducing the consumption and production of fossil fuels, tripling renewable energy power generation by 2030, and large-scale carbon capture technology.


(Summary of some emission reduction measures)

What are the parties arguing about?

The debate over the future of “fossil fuels” that occurred during the last COP27 in Egypt is also happening again this year. Although in the draft ""Reducing fossil fuel consumption and production in a just, orderly and equitable manner", but many countries are still not satisfied and call for the use of firmer language - phasing out fossil fuels.

These words are naturally of great significance. If these two words appear in the final agreement, it meansFor the first time, the most important climate summit on earth has agreed on plans to ditch all fossil fuels. In previous meetings, the parties had only agreed on the "phasing out" of untreated coal mines.

It is reported that more than 100 countries, including a number of ocean island countries, the United States, Canada, and the European Union, hope to add such a historic step to the COP28 agreement. As previously reported by the Financial Associated Press, OPEC oil-producing countries are firmly opposed to this.


In a meeting last Sunday, representatives of the Saudi delegation publicly stated,The COP28 agreement should not be selective about the source of energy, but should focus on reducing emissions. "We have been raising concerns about attacks on energy sources," the representative said.

According to the rules of procedure of the Climate Conference, the COP28 agreement must be adopted by consensus among the nearly 200 countries and regions present. Such high standards are designed to ensure that the world can take unified action on climate change. Although COP28 is scheduled to end on Tuesday, if all parties cannot reach an agreement, there may be an "overtime" situation.

According to CCTV News, last Saturday (December 9), the Chinese delegation attending COP28 held its first collective interview with reporters. Xie Zhenhua, China’s special envoy for climate change, also raised the issue of fossil fuels.

Xie Zhenhua said: "On the issue of fossil energy, China is currently conducting intensive consultations with various major countries and major groups, and positive progress has been made. The current stance on this issue is very contradictory. We hope to find a clear and correct direction for the future, reflect positive energy, and form a solution that embodies the greatest inclusiveness, is acceptable to everyone, and can also solve the problem. What is the result? Let's wait and see, we are still confident about it. "

In addition to "whether to phase out fossil fuels", the source of funds for energy transition in developing countries is also a hot topic at COP28. Many developing countries have stated that any COP28 agreement aimed at reforming the world's energy system must provide adequate financial support to developing countries.

According to data from the COP28 official live broadcast room, this conference has received more than 80 billion US dollars in investment commitments, of which 60 billion US dollars are investment commitments for climate-related projects, of which the United Arab Emirates alone accounts for half of the investment commitments.


In addition, as a major breakthrough at this session, the "Damage and Loss Fund" funded by developed countries has currently received a total investment commitment of less than US$800 million.