COP28 reaches groundbreaking climate deal in Dubai calling for 'transitioning away from fossil fuels'

After negotiators worked through the night, a new deal has been reached at COP28 which could signal the world's desire to move away from fossil fuels over the next few decades in an effort to address climate change.

Representatives from nearly 200 countries gathered in a public meeting in Dubai to support the new deal, one day after the climate summit was scheduled to close. Moments after opening Wednesday's session, COP28 President Sultan al-Jaber gave approval of the central document with the drop of the gavel.

"From the bottom of my heart, thank you," al-Jaber said. "Together, we have confronted realities and we have set the world in the right direction."

"We leave Dubai with our heads held high and our work goes on," he said.

The agreement contains much stronger language on fossil fuels compared to a previous proposal.

For the first time, the text calls for a "transitioning away from fossil fuels in energy systems, in a just, orderly and equitable manner, accelerating action in this critical decade, so as to achieve net zero by 2050 in keeping with the science."

During the two-week summit, al-Jaber raised expectations by consistently vowing to strike a historic deal in Dubai.

The  agreement is groundbreaking as it would mark the first time that nations agree at a UN climate summit to explicitly address fossil fuels and the need to move away from oil, natural gas and coal in order to limit global warming.

"I am in awe of the spirit of cooperation that has brought everyone together," said John Kerry, U.S. Special Presidential Envoy for Climate.

"To have as strong a document as has been put together, I find, is cause for optimism, cause for gratitude," Kerry said.

There is added significance considering the climate summit is being held in OPEC-territory and al-Jaber, himself, is the chief executive of the United Arab Emirates' state-owned oil company, ADNOC.

Still, some countries and environmental leaders are feeling disappointed because the deal does not call for a 'phase out' or 'phase down' of fossil fuels. Al-Jaber had suggested those terms could be included in a final agreement, but are absent.

The phrasing of transiting away from oil, gas and coal to reach net zero emissions implies that countries will aim to lower their production and consumption of fossil fuels over the coming decades, but can still use them beyond 2050 by using carbon capture facilities and other technology to prevent greenhouse gases from entering the atmosphere.

That's why the agreement is described by some environmental experts as a paradox, since it's neither a small step forward nor a giant leap in efforts to address climate change, but somewhere in the middle.