The resolution calls for an end of all direct and indirect fossil fuel subsidies, at national, EU, and global levels, “as soon as possible and by 2025 at the latest”. MEPs also support a global target to triple renewable energy and double energy efficiency by 2030, together with a tangible phasing out of fossil fuels as soon as possible, and halting all new investments in fossil fuel extraction.
The text asks all countries to strengthen their climate commitments and contribute their fair share to increase international climate financing.
MEPs emphasize the importance of protecting, conserving, and restoring biodiversity and want a significant reduction of the climate impact and emissions from methane and sectors such as international shipping and aviation, agriculture, and defense.
The resolution constitutes the mandate for Parliament's delegation, which will attend COP28 between 8 and 12 December.
COP28 takes place from 30 November to 12 December 2023 in Dubai (United Arab Emirates).
The Paris Agreement entered into force on 4 November 2016. The Global Stocktake takes place every five years, with the first-ever stocktake scheduled to conclude at COP28, which aims to provide an overall picture of its implementation progress.