Equity in the Transition Away from Fossil Fuels: Perspectives from the Global South and North (COP31)

Countries are planning the second Global Stocktake in the middle of a deep global energy crisis. The case for transitioning away from fossil fuels is now settled in the Paris process. How to do it equitably is not. Producer countries face falling revenues and stranded investments. Importers face price shocks. Communities in oil-producing regions risk carrying the heaviest costs of a transition they did not design.

This side event brings together a representative set of Parties and negotiating groups from the Global South and North. They will identify the risks and opportunities that countries, and the international community, must address to ensure an equitable transition away from fossil fuels. The discussion builds on the Santa Marta conference and the Brazilian COP30 Presidency’s work on transition roadmaps.