Ahead of COP28, 131 companies with nearly $1 trillion in global annual revenue have urged national governments to set a timeline for the phaseout of fossil fuels.
As many as 131 companies representing nearly $1 trillion in global annual revenue are urging governments to set targets and timelines for the phaseout of unabated fossil fuels.
This means turbocharging the renewables revolution, electrifying key sectors and massively improving efficiency — thereby creating the conditions for a rapid, well-managed and just transition away from fossil fuels,” the signatories to the letter wrote. The companies are setting their own emission-reduction targets, but they say that they “cannot make this transition securely or efficiently alone.
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