Earlier this month, an agreement was made at the Conference of the Parties (COP28) in Dubai; the use of fossil fuels needs to end. Many see this as a renewal of commitment to the Paris Agreement.
"This is finally the whole world coming together in the industry to say we're going to transition away [from fossil fuels]," says Greg Keoleian, the Co-Director with the Center for Sustainable Systems at the University of Michigan. This recognition of a need for change comes from the oil industry itself. Tripling renewable energy sources and doubling energy efficiency are now the expressed goals for 2030.
But the road ahead is long and its conclusion uncertain. "It's really going to depend on what [the petroleum industry does] in the next few years," says Keoleian. "There are loopholes... it's really going to depend on what they do in terms of shifting investment away from petroleum."
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