"Countries Unite at COP28 to Phase Out Fossil Fuels and Boost Clean Energy"

At the U.N. climate summit in Dubai, 118 countries pledged to triple the world's renewable energy capacity by 2030, aiming to reduce the share of fossil fuels in global energy production. The pledge also called for the phase-out of unabated coal power and an end to financing new coal-fired power plants. Additionally, more than 20 nations signed a declaration to triple nuclear power capacity by 2050. France plans to ask the OECD to measure the climate and financial risks of investing in new coal assets, while nearly 50 oil and gas companies, including Exxon Mobil, signed the Oil and Gas Decarbonization Charter. The Biden administration unveiled final rules to crack down on U.S. oil and gas industry methane emissions, and several countries joined the Global Methane Pledge to reduce methane emissions by 30% by 2030.