The Transition away from Fossil Fuels has begun!
In December 2023, an agreement was reached at COP28 that is meant to signal the beginning of the end for fossil fuels. To mark the United Nations International Day of Clean Energy on 26th January, the FUELGAE Project is taking a brief look back at COP28 and what an end to fossil fuels might mean.
What happened at COP28?
COP28, held in Dubai, UAE, from 30th November to 12th December 2023, was the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change. The main goals of COP28 were:
- to conduct the first Global Stocktake (GST) of the progress and gaps in implementing the Paris Agreement, which aims to limit global warming to 1.5°C above pre-industrial levels;
- to finalize the rules and mechanisms for international cooperation on climate action, especially on carbon markets and finance;
- to enhance the ambition and action of countries, regions, cities, businesses, and other stakeholders to reduce greenhouse gas emissions and adapt to climate impacts; and,
- to address the needs and concerns of the most vulnerable countries and communities, especially on loss and damage, adaptation, and resilience.
According to the official summary of global climate action at COP28, one of the key outcomes and achievements of the conference was a historic agreement to “transition away from fossil fuels” in energy systems and a commitment to triple renewable energy, double energy efficiency and reduce methane emissions by 2030. In addition to this, a new Loss and Damage Fund to support developing countries facing the irreversible impacts of climate change was created. The Loss and Damage Fund will be augmented by a new framework for the Global Goal on Adaptation, which aims to enhance the world’s adaptive capacity and resilience and reduce the vulnerability of countries and communities facing the biggest risks from climate change.
However, whilst this is a step in the right direction, COP28 also faced many challenges and criticisms. These included a lack of sufficient ambition and action from major Greenhouse Gas (GHG) emitters, especially on phasing out coal and other fossil fuels, and the gap between their pledges and the Paris Agreement’s 1.5°C goal.
Funding remained an issue, in particular the lack of clarity and transparency on the sources, allocation, and effectiveness of the funds for climate finance. A further issue was controversy over the role and influence of the oil and gas industry in the COP28 presidency and the negotiations, and the allegations of greenwashing and human rights violations by the host country.
Overall, COP28 showed that the world is moving in the right direction, but not fast enough or far enough to avoid the worst impacts of climate change. The next COP, which will be held in 2024, will be another critical moment to raise the ambition and action of all actors, and to ensure that the Paris Agreement is fully implemented and delivers on its goals.
What does this mean?
Oil is the main primary energy fuel in the world, followed by other fossil fuels such as coal and natural gas. The largest energy consumers globally are the industrial and transportation sectors. The industrial sector is responsible for approximately 37% of the world’s total final energy consumption, while the transportation sector accounts for 31%. Whilst the use of renewables and biofuels has more than doubled in the EU since 1990, further development in the production of biofuels could potentially contribute to increased reduction of net CO2 emissions in both transportation and industrial sectors. Such reductions are vital if the transition away from fossil fuels is to be successful and the goals of the UNFCCC to be achieved.
However, there are a number of barriers that must be overcome if the production of biofuels is ever to reach the scale required to make the reductions required feasible. These include:
- Economic Viability and Cost Competitiveness: Biofuels often face challenges in terms of cost competitiveness with traditional fossil fuels. The economic viability of biofuel production depends on factors such as feedstock costs, processing technologies, and government subsidies.
- Technological Challenges: Advances in biofuel technologies are needed to improve efficiency, reduce production costs, and enhance the overall sustainability of the biofuel production process.
- Policy and Regulatory Uncertainty: Uncertainty in policy and regulatory frameworks can impede investment in the biofuel sector.
- Infrastructure Compatibility: Adapting or building new infrastructure to accommodate biofuels can be expensive and logistically challenging.
- Research and Development Gaps: Insufficient investment in research and development for biofuel technologies can slow progress in improving efficiency, sustainability, and scalability. Therefore, investment in this type of research is crucial.
This is why the research being done by projects like FUELGAE, and its sister project COCPIT, is so valuable! The FUELGAE project, which launched in October 2023, aims to develop an innovative method to produce advanced liquid fuels (ALF) out of the different CO₂ emissions streams of two test sites in two different industrial sectors (a biorefinery and an energy-intensive industry, specifically, a steel mill). The project will develop a microalgae pilot plant to be integrated into the infrastructure of the chosen testing sites.
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