Good COP, Bad COP

​Young activist stage the last protest in COP28 conference venue.
Young activist stage the last protest in COP28 conference venue.
(Photo by Dominika Zarzycka/NurPhoto)

It was a chaotic COP28, to say the least. But after 28 years of climate negotiations, on Wednesday representatives from nearly 200 countries signed an agreement to transition away from fossil fuels.

The agreement contains much stronger language on fossil fuels compared to a previous proposal, which said nations “could” take actions to slash greenhouse gas emissions, giving fossil fuel-producing countries – including COP28’s host, the United Arab Emirates – the option to not give up the Golden Goose.

President Sultan al-Jaber, an Emirati oil company executive leading the talks, gavelled in approval of this earlier version on Wednesday morning without giving critics a chance to speak, and when representatives of small island nations – who have been outspoken that they “will not go silently to [their] watery graves'' – were not present. Al-Jaber’s statement that there was “no science” to support a phaseout sparked an uproar, sending the conference into overtime.

The US and Canada joined forces with small island nations to insist that a fossil fuel phaseout make it into the agreement. In the end, the countries compromised to “transition away” from fossil fuels. This is the first time the root cause of the climate crisis has been stated in a decision in nearly 30 years of environment talks.

But critics say the final document contains “a litany of loopholes.” Fossil fuels are just called “transitional fuels” and are condoned to “facilitate the energy transition.” It legitimizes gas burning on the basis that it is less polluting than coal, though liquefied natural gas may be worse than coal due to methane leaks.

After a year of devastating natural disasters, Canada came to the conference as the only major oil-producing country to implement an emissions cap. Ottawa also announced the world’s most ambitious methane regulations it claims will lead to emissions reductions of at least 75% by 2030. It is also the first G20 nation to phase out fossil fuel subsidies, two years ahead of the deadline.

Meanwhile, the US had less to be proud of. While the Inflation Reduction Act marked the most aggressive climate investment in US history, oil and gas production is at record highs, and it is planning continued expansion, especially in LNG.

Talk is cheap. The agreement called for a tripling of renewable energy by 2030. But whether that can happen depends on how much money is offered for emerging economies and low-income countries, and how soon. All details are left for next year's COP, which will be hosted by Azerbaijan, another petrostate. However, a $700 million fund was formally established to offer money to countries that have suffered irreparable economic losses and damages, and the World Bank and the IMF were called upon to expedite loans for energy projects in developing countries.

A key test for national governments will come in 2025, when every country is expected to set its next round of climate targets. COP30 is the one to watch, as it will be held in the Brazilian Amazon, a region on the frontlines of the climate change crisis, which is expected to amplify the voices of vulnerable countries.

More from GZERO Media

- YouTube

Fifty years after the fall of Saigon (or its liberation, depending on whom you ask), Vietnam has transformed from a war-torn battleground to one of Asia’s fastest-growing economies—and now finds itself caught between two superpowers. Ian Bremmer breaks down how Vietnam went from devastation in the wake of the Vietnam War to becoming a regional economic powerhouse.

Eurasia Group and GZERO Media are seeking a highly creative, detail-oriented Graphic and Animation Designer who lives and breathes news, international affairs, and policy. The ideal candidate has demonstrated experience using visual storytelling—including data visualizations and short-form animations—to make complex geopolitical topics accessible, social-friendly, and engaging across platforms. You will join a dynamic team of researchers, editors, video producers, and writers to elevate our storytelling and thought leadership through innovative multimedia content.

The body of Pope Francis in the coffin exposed in St. Peter's Basilica in Vatican City on April 24, 2025. The funeral will be celebrated on Saturday in St. Peter's Square.
Pasquale Gargano/KONTROLAB/ipa-agency.net/IPA/Sipa USA

While the Catholic world prepares for the funeral of Pope Francis on Saturday – the service begins at 10 a.m. local time, 4 a.m. ET – certain high-profile attendees may also have other things on their mind. Several world leaders will be on hand to pay their respects to the pontiff, but they could also find themselves involved in bilateral talks.

A Ukrainian rescue worker sits atop the rubble of a destroyed residential building during rescue operations, following a Russian missile strike on a residential apartment building block in Kyiv, Ukraine, on April 24, 2025.
Photo by Justin Yau/ Sipa USA
Members of the M23 rebel group stand guard at the opening ceremony of Caisse Generale d'epargne du Congo (CADECO) which will serve as the bank for the city of Goma where all banks have closed since the city was taken by the M23 rebels, in Goma, North Kivu province in the East of the Democratic Republic of Congo, April 7, 2025.
REUTERS/Arlette Bashizi

The Democratic Republic of the Congo and an alliance of militias led by the notorious M23 rebels announced a ceasefire on Thursday after talks in Qatar and, after three years of violence, said they would work toward a permanent truce.

Students shout slogans and burn an effigy to protest the Pahalgam terror attack in Guwahati, Assam, India, on April 24, 2025. On April 22, a devastating terrorist attack occurs in Pahalgam, Jammu and Kashmir, resulting in the deaths of at least 28 tourists.
Photo by David Talukdar/NurPhoto

Prime Minister Narendra Modi has blamed Pakistan for Tuesday’s deadly terrorist attack in Kashmir, and he’s takenaggressive action against its government.

- YouTube

“When things are going fine, nobody really tests the skills and talents of their financial advisor, but this is a moment where really good advice can be extraordinarily powerful,” says Margaret Franklin, CFA Institute's CEO and President. In conversation with GZERO’s Tony Maciulis, Franklin describes the current financial climate as “maximum uncertainty,” rating it a 10 out of 10 on the risk scale.

President Donald Trump at a bilateral meeting with China's President Xi Jinping during the G20 leaders summit in Osaka, Japan, on June 29, 2019.
REUTERS/Kevin Lamarque/File Photo

On Wednesday, Donald Trump said he would deliver a “fair deal” with China and that he’d be “very nice” to the country after meeting with major retailers. But Beijing denies that there are any ongoing talks and has told the US it must cancel its unilateral tariffs before China will broker any negotiations.