Representatives of almost 200 countries agreed this Wednesday, within the framework of the COP28 climate summit, start reducing global fossil fuel consumption to avoid worsening the effects of climate change. This unprecedented pact represents a serious step towards the eventual end of the oil era. The agreement, reached in Dubai after two weeks of intense negotiations, aims to send a strong signal to investors and policymakers: the world is now united in its desire to break away from fossil fuels.

This is a step that scientists have been warning about for years as the last and necessary hope to avoid a climate catastrophe that is already upon us. “It’s the first time the world comes together around such a clear text on the need to move away from fossil fuels”, said the Minister of Foreign Affairs of Norway, Espen Barth Eide, about the agreed text, adding that “it has been the elephant in the room. Finally, we addressed it head-on.” After the agreement, there was applause at the opening of the plenary session.

And rightly so, since this unity has not been by any means easy. More than 100 countries had pushed hard for strong language in the COP28 agreement to “phase out” the use of oil, gas and coal, but met with strong opposition from the Saudi-led group and the Organization of the Petroleum Exporting Countries (OPEC), which argued that the world was capable of reducing emissions without giving up specific fuels. This battle extended the summit until Wednesday, although now that the agreement has been reached, countries are responsible for fulfilling the commitments through national policies and investments.

The proposed agreement specifically calls for “Transition away from fossil fuels in energy systemsin a fair, orderly and equitable manner… to achieve net zero emissions by 2050 according to science.” It also calls for tripling renewable energy capacity globally by 2030, accelerating efforts to reduce carbon and accelerating technologies such as carbon capture and storage that can clean up industries that are difficult to decarbonize.