Press Conference – Transitioning Away from Fossil Fuels: Operationalising the UAE Consensus

Saturday, 21 June 2025 | 10:30 – 11:00
Nairobi 4, Main Building – Entrance Level, Press Conference Room, UNFCCC SB62
Bonn, Germany

As delegates gather in Bonn for the 62nd session of the UNFCCC Subsidiary Bodies (SB62), attention is turning to how countries and companies are delivering on the commitments made at COP28 in Dubai. The UAE Consensus – calling for a just and orderly transition away from fossil fuels – was a historic outcome. Yet, with new fossil fuel projects still being approved worldwide, the gap between commitment and implementation remains dangerously wide.

This press conference will bring together experts from the World Benchmarking Alliance (WBA), the International Institute for Sustainable Development (IISD), and WWF Brazil to present new data and strategies on how to operationalise the UAE Consensus. The discussion will focus on transition planning, fossil fuel phase-out pathways, and financial mechanisms that support implementation at both the country and company level—particularly in oil- and gas-dependent economies.

The event will also spotlight findings from a new joint report, ‘Brazil at a Crossroads: Rethinking Petrobras’ Oil and Gas Expansion’, which reveals that up to 85% of Petrobras’ planned new oil production would be unviable in a 1.5°C-aligned world. The report warns that Brazil’s ongoing oil push not only risks locking in stranded assets but also undermines its climate credibility. Speakers will explore how governments can use public finance, ownership levers, and corporate mandates to steer national oil companies like Petrobras toward credible transition pathways.

Speakers

Joachim Roth (World Benchmarking Alliance)
Natalie Jones (IISD)
Alexandre Prado (WWF Brazil)

Moderator

Maria Azul Schvartzman (World Benchmarking Alliance)