COP30 Presidency publishes global fossil fuel transition roadmap

Today, the COP30 presidency announced its global roadmap for a transition away from fossil fuels.In response, Romain Ioualalen, Global Policy lead at Oil Change International, said:“Brazil has offered a valuable blueprint for the global transition away from fossil fuels. It recognizes there is no one-size-fits-all pathway, that all countries need to plan their transition now, and that equity and finance are critical to achieving fossil-free prosperity in many countries.

“Now that we have a global roadmap, we need to see action. If all this process leads to is another series of dialogues, it will be a massive missed opportunity in an already closing window. Countries need to develop their own domestic roadmaps that plan their economic diversification away from fossil fuels using the guidance and tools provided by Brazil’s report. We also need to see the global Mutirão for the transition away from fossil fuels deliver key decisions that allow countries with strong economic and energy constraints to unlock their transition.

The Second Global Stocktake in 2028 will be a critical opportunity to make that happen.“Delivering on this global roadmap for countries with deep financial constraints hinges on finance. Enough public finance can be delivered to fund a fair fossil fuel phaseout as rich countries can unlock trillions every year through taxing polluters and extreme wealth, ending fossil fuel subsidies, and reforming unfair financial rules.“One area of real concern is the suggestion that global action on reducing fossil fuel supply could wait until the 2030s.

That would be a grave mistake, and a guarantee to further lock in fossil fuels and for a chaotic transition. Existing fossil fuel extraction projects already commit the world to emissions nearly seven times the remaining 1.5°C carbon budget. There is no time to pass the baton between supply and demand. Both need to be addressed now, through a fair, funded, and fast transition.”