COP28’s Historic Deal Cements a Role for Big Oil’s Priorities
- Need for transitional fuels, CO2 capture cited in final text
- Big Oil has long promoted natural gas as bridge to renewables
COP28 President Sultan Al Jaber brokered an agreement that committed to shifting away from all fossil fuels.
Photographer: Christopher Pike/COP28This article is for subscribers only.
The historic COP28 deal, which committed the world to the transition away from fossil fuels, also cemented a role for two key oil industry priorities.
The summit’s final text indicated that natural gas, which is somewhat less carbon-intensive than oil and coal, can play a part in cutting emissions. It also placed CO2 capture and storage alongside renewables and nuclear as key technologies that would drive the transition.