85 Nations Meet to Phase Out Fossil Fuels by Majority Rule
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- 85 countries backed a roadmap to phase out fossil fuels at COP30, combining for a $33.3tn economic bloc larger than the U.S. or China alone.
- Colombia and the Netherlands will co-host the First International Conference on the Just Transition Away from Fossil Fuels on April 28–29, operating by majority rule to bypass petrostate vetoes.
- California Governor Gavin Newsom has been invited and is seen as a potential ally, with his state’s $4.1tn economy adding significant weight to the coalition if it formally joins.
- António Guterres has tasked the International Energy Agency with creating a global platform to align the decline of fossil fuel investment with clean energy expansion.
- Mohamed Adow of Power Shift Africa stated that a coalition of 85 nations signaling a fossil fuel exit would send an unmistakable market signal, shifting smart investment toward clean energy.
- Fossil fuel subsidies totaling $7tn annually are a key target for reform, with the conference aiming to phase them out without harming dependent workers or communities.
Why it matters: The coalition’s $33.3tn combined GDP gives it greater economic weight than the U.S., meaning coordinated policy shifts could redirect global capital flows. If participants establish credible phaseout plans, investors may treat new fossil projects as stranded assets, accelerating the energy transition independently of UN consensus.
