The Fossil Fuel Turning Point
In that spirit, COP30 stimulated coalitions under the Global Climate Action Agenda, such as the one that organized the Santa Marta Conference, convened by Colombia and the Netherlands. The subsequent report set out options for national planning, investment, and international cooperation.
These efforts are building the foundations for our future beyond oil, gas, and coal. The test now is whether they help countries turn commitments into action.
An early answer came last month when Germany became the third country, after France and the Netherlands, to publish a national roadmap for transitioning away from fossil fuels. At the UN General Assembly in New York, Environment Minister Carsten Schneider presented the roadmap to phase out oil, coal and gas by 2045, framing fossil fuel dependence as a costly vulnerability.
Our fossil fuel dependence laid bare
When the war against Iran disrupted shipping through the Strait of Hormuz, the consequences reached far beyond the region. Brent crude prices rose above $100 a barrel, putting pressure on fuel costs worldwide, squeezing government and household budgets alike. Since the start of the crisis, inflated prices for oil and gas have cost an extra $1.83 billion per day to importers with no additional benefit.
