Transitioning From Fossil Fuels Should be Part of a Country's Climate Plans, COP29 President Says -- Market Talk

Dow Jones
11 Nov 2024

0810 GMT - Moving away from fossil fuels should be part of a country's nationally determined contributions (NDCs), according to COP29 President Mukhtar Babayev. He is grateful to everyone who has already committed to producing NDCs aligned with the 1.5 degrees Celsius temperature limit, he says during the opening speech at the COP summit in Baku. "We need to get this right, and we need to get it done on time. Including transitioning away from fossil fuels in a just and orderly manner, taking into account different national circumstances, pathways and approaches," he says. The COP29 presidency had omitted transitioning away from fossil fuels as one of its key priorities going into the conference, despite it being agreed upon at last year's COP that it should be a priority. (yusuf.khan@wsj.com)

 

(END) Dow Jones Newswires

November 11, 2024 03:11 ET (08:11 GMT)

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