FrankHH/Shutterstock COP28 was hailed by some as marking 鈥渢he beginning of the end of the fossil fuel era" just 24 hours after being described as a "petrostate COP."COPs are often most important for their symbolism and momentum, with real-world impacts harder to quantify.While implementation will be key, there are clear and major ramifications for today鈥檚 energy system, producer economies and the global political economy. Save for later Print Download Share The COP28 agreement has its critics, with Samoa, representing island states, slamming it for having a 鈥渓itany of loopholes鈥� enabling fossil fuels to get a reprieve. However, consensus is that, although flawed, the Dubai deal represents a real step change in climate ambition. Dubai commitments mark a 鈥渃limate action lifeline, not a finish line,鈥� UN climate chief Simon Stiell told the final plenary session. 鈥淣ow all governments and businesses need to turn these pledges into real economy outcomes without delay.鈥�
