Fortescue is deeply disappointed by the release of draft text by the COP28 Presidency that does not explicitly call for a phase-out of fossil fuels.
DUBAI, United Arab Emirates --- We are deeply disappointed by the release of draft text by the COP28 Presidency that does not explicitly call for a phase-out of fossil fuels.
Arguing oil and gas development equals economic opportunity is to blindly or wilfully miss the much greater opportunity of green energy.
Countries from a range of economic circumstances, regions and stages in the energy transition have all backed high-ambition language. We support this ambition.
There is still time in the final negotiations not to undermine the spirit of the Paris Agreement and to effectively address the climate crisis.
Fortescue has engaged closely with developing countries and emerging markets through the COP process.
We stand unequivocally with countries who will face the disproportionate impact of Lethal Humidity and Heat for whom this text, if enacted without amendment, will signal a significant erosion of the ability to hold global temperatures to 1.5 degrees.