EU Parliament Votes to Push for End of Global Fossil Fuel Subsidies by 2025 at COP28

The European Parliament has voted overwhelmingly in favor of a resolution for the upcoming UN COP28 Climate Conference, calling for an end to global fossil fuel subsidies by 2025. The resolution also supports phasing out fossil fuels, halting new investments in fossil fuel extraction, and setting ambitious targets for renewable energy and energy efficiency. Previous climate conferences have fallen short in securing commitments to phase out fossil fuels, but last year’s COP27 did include some progress in funding for climate change responses. The European Union aims to unite with other nations, particularly the least developed countries and small island states, to hold accountable those who have not fulfilled their climate responsibilities.

Resource: https://www.esgtoday.com/eu-parliament-votes-to-push-for-end-of-global-fossil-fuel-subsidies-by-2025-at-cop28/