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While the UN's COP28 climate summit marked a pivot moment, when the world pledged to say "goodbye" to fossil fuels, International Energy Agency chief Fatih Birol told AFP on Friday, it needs to now urgently boost finance for the energy transition in developing countries.What is missing big time, in my view, is how to help developing countries to finance their green energy transitions.
Notes Islamabad accounts for two-thirds of South Asia’s external debt obligations to Beijing
After COP28's landmark call for the world to move away from fossil fuels, experts say the pressure is on to fast-track -- and fund -- the global energy transition. It calls for "transitioning away from fossil fuels in energy systems, in a just, orderly and equitable manner" -- after three decades without naming the main driver of planet-heating pollution.
David Dapice is a Senior Economist in the Ash Center for Democratic Governance and Innovation at John F. Kennedy School of Government, Harvard University.
As the COP28 climate talks in Dubai wrapped, landmark language about fossil fuels is overshadowed by power dynamics and Global South exclusion.